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x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Commission
File Number
|
|
Name of Registrant, State of Incorporation,
Address of Principal Executive Offices and Telephone Number
|
|
IRS Employer
Identification Number
|
1-9894
|
|
ALLIANT ENERGY CORPORATION
|
|
39-1380265
|
|
|
(a Wisconsin corporation)
|
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4902 N. Biltmore Lane
|
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|
Madison, Wisconsin 53718
|
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Telephone (608) 458-3311
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|
||
1-4117
|
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INTERSTATE POWER AND LIGHT COMPANY
|
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42-0331370
|
|
|
(an Iowa corporation)
|
|
|
|
|
Alliant Energy Tower
|
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|
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|
Cedar Rapids, Iowa 52401
|
|
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|
|
Telephone (319) 786-4411
|
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|
||
0-337
|
|
WISCONSIN POWER AND LIGHT COMPANY
|
|
39-0714890
|
|
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(a Wisconsin corporation)
|
|
|
|
|
4902 N. Biltmore Lane
|
|
|
|
|
Madison, Wisconsin 53718
|
|
|
|
|
Telephone (608) 458-3311
|
|
|
|
Large Accelerated Filer
|
|
Accelerated Filer
|
|
Non-accelerated Filer
|
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Smaller Reporting Company Filer
|
Alliant Energy Corporation
|
x
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Interstate Power and Light Company
|
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x
|
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Wisconsin Power and Light Company
|
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|
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x
|
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Page
|
Alliant Energy Corporation:
|
|
Interstate Power and Light Company:
|
|
Wisconsin Power and Light Company:
|
|
Abbreviation or Acronym
|
|
Definition
|
2015 Form 10-K
|
|
Combined Annual Report on Form 10-K filed by Alliant Energy, IPL and WPL for the year ended Dec. 31, 2015
|
AFUDC
|
|
Allowance for funds used during construction
|
Alliant Energy
|
|
Alliant Energy Corporation
|
AROs
|
|
Asset retirement obligations
|
ATC
|
|
American Transmission Company LLC
|
CAA
|
|
Clean Air Act
|
CCR
|
|
Coal Combustion Residuals
|
CEO
|
|
Chief Executive Officer
|
CFO
|
|
Chief Financial Officer
|
Columbia
|
|
Columbia Energy Center
|
Corporate Services
|
|
Alliant Energy Corporate Services, Inc.
|
CRANDIC
|
|
Cedar Rapids and Iowa City Railway Company
|
DAEC
|
|
Duane Arnold Energy Center
|
Dth
|
|
Dekatherm
|
Edgewater
|
|
Edgewater Generating Station
|
EGU
|
|
Electric generating unit
|
EPA
|
|
U.S. Environmental Protection Agency
|
EPS
|
|
Earnings per weighted average common share
|
FERC
|
|
Federal Energy Regulatory Commission
|
Financial Statements
|
|
Condensed Consolidated Financial Statements
|
FTR
|
|
Financial transmission right
|
Fuel-related
|
|
Electric production fuel and energy purchases
|
GAAP
|
|
U.S. generally accepted accounting principles
|
HDD
|
|
Heating degree days
|
IPL
|
|
Interstate Power and Light Company
|
ITC
|
|
ITC Midwest LLC
|
IUB
|
|
Iowa Utilities Board
|
Marshalltown
|
|
Marshalltown Generating Station
|
MDA
|
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
MGP
|
|
Manufactured gas plant
|
MISO
|
|
Midcontinent Independent System Operator, Inc.
|
MW
|
|
Megawatt
|
MWh
|
|
Megawatt-hour
|
N/A
|
|
Not applicable
|
NAAQS
|
|
National Ambient Air Quality Standards
|
Nelson Dewey
|
|
Nelson Dewey Generating Station
|
Note(s)
|
|
Combined Notes to Condensed Consolidated Financial Statements
|
NOx
|
|
Nitrogen oxide
|
OPEB
|
|
Other postretirement benefits
|
PSCW
|
|
Public Service Commission of Wisconsin
|
Receivables Agreement
|
|
Receivables Purchase and Sale Agreement
|
Resources
|
|
Alliant Energy Resources, LLC
|
Riverside
|
|
Riverside Energy Center
|
RMT
|
|
RMT, Inc.
|
SCR
|
|
Selective catalytic reduction
|
SO2
|
|
Sulfur dioxide
|
U.S.
|
|
United States of America
|
Whiting Petroleum
|
|
Whiting Petroleum Corporation
|
WPL
|
|
Wisconsin Power and Light Company
|
|
1
|
|
•
|
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 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 carbon dioxide emissions reductions from new and existing fossil-fueled EGUs, and litigation associated with environmental requirements;
|
•
|
the ability to defend against environmental claims brought by state and federal agencies, such as the EPA, state natural resources agencies or third parties, such as the Sierra Club, and the impact on operating expenses of defending and resolving such claims;
|
|
2
|
|
•
|
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 transmission and distribution safety regulations, such as proposed rules recently 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;
|
•
|
inability to access technological developments, including those related to wind turbines, solar generation, smart technology and other future technologies;
|
•
|
changes in technology that alter the channels through which electric customers buy or utilize power;
|
•
|
impacts of ATC’s potential restructuring;
|
•
|
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 revenue recognition and lease standards;
|
•
|
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 Risk Factors in Item 1A in the
2015
Form 10-K.
|
|
3
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions, except per share amounts)
|
||||||
Operating revenues:
|
|
|
|
||||
Electric utility
|
|
$668.9
|
|
|
|
$671.3
|
|
Gas utility
|
152.2
|
|
|
198.4
|
|
||
Other utility
|
13.2
|
|
|
16.4
|
|
||
Non-regulated
|
9.5
|
|
|
11.3
|
|
||
Total operating revenues
|
843.8
|
|
|
897.4
|
|
||
Operating expenses:
|
|
|
|
||||
Electric production fuel and purchased power
|
200.9
|
|
|
215.9
|
|
||
Electric transmission service
|
127.9
|
|
|
123.2
|
|
||
Cost of gas sold
|
95.2
|
|
|
130.8
|
|
||
Other operation and maintenance
|
145.1
|
|
|
147.9
|
|
||
Depreciation and amortization
|
102.5
|
|
|
100.2
|
|
||
Taxes other than income taxes
|
26.3
|
|
|
26.5
|
|
||
Total operating expenses
|
697.9
|
|
|
744.5
|
|
||
Operating income
|
145.9
|
|
|
152.9
|
|
||
Interest expense and other:
|
|
|
|
||||
Interest expense
|
48.0
|
|
|
46.6
|
|
||
Equity income from unconsolidated investments, net
|
(10.5
|
)
|
|
(6.5
|
)
|
||
Allowance for funds used during construction
|
(13.2
|
)
|
|
(6.8
|
)
|
||
Interest income and other
|
(0.2
|
)
|
|
(0.1
|
)
|
||
Total interest expense and other
|
24.1
|
|
|
33.2
|
|
||
Income from continuing operations before income taxes
|
121.8
|
|
|
119.7
|
|
||
Income taxes
|
21.6
|
|
|
20.5
|
|
||
Income from continuing operations, net of tax
|
100.2
|
|
|
99.2
|
|
||
Loss from discontinued operations, net of tax
|
(1.1
|
)
|
|
—
|
|
||
Net income
|
99.1
|
|
|
99.2
|
|
||
Preferred dividend requirements of Interstate Power and Light Company
|
2.6
|
|
|
2.6
|
|
||
Net income attributable to Alliant Energy common shareowners
|
|
$96.5
|
|
|
|
$96.6
|
|
Weighted average number of common shares outstanding (basic and diluted) (a)
|
113.4
|
|
|
111.1
|
|
||
Earnings per weighted average common share attributable to Alliant Energy common
shareowners (basic and diluted) (a):
|
|
|
|
||||
Income from continuing operations, net of tax
|
|
$0.86
|
|
|
|
$0.87
|
|
Loss from discontinued operations, net of tax
|
(0.01
|
)
|
|
—
|
|
||
Net income
|
|
$0.85
|
|
|
|
$0.87
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
||||
Income from continuing operations, net of tax
|
|
$97.6
|
|
|
|
$96.6
|
|
Loss from discontinued operations, net of tax
|
(1.1
|
)
|
|
—
|
|
||
Net income
|
|
$96.5
|
|
|
|
$96.6
|
|
Dividends declared per common share (a)
|
|
$0.5875
|
|
|
|
$0.55
|
|
(a)
|
Amounts do not reflect the effects of a two-for-one common stock split approved by Alliant Energy’s Board of Directors on April 20, 2016. Refer to
Note 6
for additional details.
|
|
4
|
|
|
March 31,
2016 |
|
December 31,
2015 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$4.8
|
|
|
|
$5.8
|
|
Accounts receivable, less allowance for doubtful accounts
|
390.6
|
|
|
397.6
|
|
||
Production fuel, at weighted average cost
|
98.0
|
|
|
98.8
|
|
||
Gas stored underground, at weighted average cost
|
15.9
|
|
|
43.3
|
|
||
Materials and supplies, at weighted average cost
|
83.3
|
|
|
81.4
|
|
||
Regulatory assets
|
111.5
|
|
|
120.2
|
|
||
Other
|
64.4
|
|
|
79.7
|
|
||
Total current assets
|
768.5
|
|
|
826.8
|
|
||
Property, plant and equipment, net
|
9,626.6
|
|
|
9,519.1
|
|
||
Investments:
|
|
|
|
||||
Investment in American Transmission Company LLC
|
302.5
|
|
|
293.3
|
|
||
Other
|
21.0
|
|
|
53.0
|
|
||
Total investments
|
323.5
|
|
|
346.3
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,805.7
|
|
|
1,788.4
|
|
||
Deferred charges and other
|
10.7
|
|
|
14.6
|
|
||
Total other assets
|
1,816.4
|
|
|
1,803.0
|
|
||
Total assets
|
|
$12,535.0
|
|
|
|
$12,495.2
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$313.4
|
|
|
|
$313.4
|
|
Commercial paper
|
213.4
|
|
|
159.8
|
|
||
Accounts payable
|
323.8
|
|
|
402.4
|
|
||
Regulatory liabilities
|
193.1
|
|
|
187.1
|
|
||
Other
|
304.8
|
|
|
296.6
|
|
||
Total current liabilities
|
1,348.5
|
|
|
1,359.3
|
|
||
Long-term debt, net (excluding current portion)
|
3,522.7
|
|
|
3,522.2
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
2,424.6
|
|
|
2,381.2
|
|
||
Regulatory liabilities
|
517.9
|
|
|
550.6
|
|
||
Pension and other benefit obligations
|
446.5
|
|
|
451.8
|
|
||
Other
|
310.2
|
|
|
306.0
|
|
||
Total other liabilities
|
3,699.2
|
|
|
3,689.6
|
|
||
Commitments and contingencies (
Note 13
)
|
|
|
|
|
|
||
Equity:
|
|
|
|
||||
Alliant Energy Corporation common equity:
|
|
|
|
||||
Common stock - $0.01 par value - 240,000,000 shares authorized; 113,562,651 and 113,459,216 shares outstanding (a)
|
1.1
|
|
|
1.1
|
|
||
Additional paid-in capital
|
1,673.7
|
|
|
1,663.0
|
|
||
Retained earnings
|
2,098.9
|
|
|
2,068.9
|
|
||
Accumulated other comprehensive loss
|
(0.4
|
)
|
|
(0.4
|
)
|
||
Shares in deferred compensation trust - 214,881 and 215,093 shares at a weighted average cost of $40.36 and $39.69 per share (a)
|
(8.7
|
)
|
|
(8.5
|
)
|
||
Total Alliant Energy Corporation common equity
|
3,764.6
|
|
|
3,724.1
|
|
||
Cumulative preferred stock of Interstate Power and Light Company
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
3,964.6
|
|
|
3,924.1
|
|
||
Total liabilities and equity
|
|
$12,535.0
|
|
|
|
$12,495.2
|
|
(a)
|
Share and per share amounts do not reflect the effects of a two-for-one common stock split approved by Alliant Energy’s Board of Directors on April 20, 2016. Refer to
Note 6
for additional details.
|
|
5
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$99.1
|
|
|
|
$99.2
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
102.5
|
|
|
100.2
|
|
||
Deferred tax expense and investment tax credits
|
22.8
|
|
|
29.7
|
|
||
Other
|
(17.6
|
)
|
|
(0.1
|
)
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(47.8
|
)
|
|
6.6
|
|
||
Sales of accounts receivable
|
57.0
|
|
|
52.0
|
|
||
Gas stored underground
|
27.4
|
|
|
49.5
|
|
||
Accounts payable
|
(31.2
|
)
|
|
(32.8
|
)
|
||
Regulatory liabilities
|
(28.7
|
)
|
|
(6.6
|
)
|
||
Other
|
44.8
|
|
|
17.0
|
|
||
Net cash flows from operating activities
|
228.3
|
|
|
314.7
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Construction and acquisition expenditures:
|
|
|
|
||||
Utility business
|
(220.4
|
)
|
|
(226.0
|
)
|
||
Alliant Energy Corporate Services, Inc. and non-regulated businesses
|
(18.8
|
)
|
|
(19.8
|
)
|
||
Other
|
19.2
|
|
|
(5.1
|
)
|
||
Net cash flows used for investing activities
|
(220.0
|
)
|
|
(250.9
|
)
|
||
Cash flows used for financing activities:
|
|
|
|
||||
Common stock dividends
|
(66.5
|
)
|
|
(60.7
|
)
|
||
Proceeds from issuance of common stock, net
|
6.2
|
|
|
122.1
|
|
||
Net change in commercial paper
|
53.6
|
|
|
(99.8
|
)
|
||
Other
|
(2.6
|
)
|
|
15.3
|
|
||
Net cash flows used for financing activities
|
(9.3
|
)
|
|
(23.1
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
(1.0
|
)
|
|
40.7
|
|
||
Cash and cash equivalents at beginning of period
|
5.8
|
|
|
56.9
|
|
||
Cash and cash equivalents at end of period
|
|
$4.8
|
|
|
|
$97.6
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash (paid) refunded during the period for:
|
|
|
|
||||
Interest, net of capitalized interest
|
|
($44.5
|
)
|
|
|
($40.2
|
)
|
Income taxes, net
|
|
$—
|
|
|
|
$0.1
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$105.0
|
|
|
|
$119.0
|
|
|
6
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions)
|
||||||
Operating revenues:
|
|
|
|
||||
Electric utility
|
|
$361.6
|
|
|
|
$362.6
|
|
Gas utility
|
84.2
|
|
|
111.2
|
|
||
Steam and other
|
12.9
|
|
|
15.2
|
|
||
Total operating revenues
|
458.7
|
|
|
489.0
|
|
||
Operating expenses:
|
|
|
|
||||
Electric production fuel and purchased power
|
99.4
|
|
|
110.1
|
|
||
Electric transmission service
|
86.5
|
|
|
83.9
|
|
||
Cost of gas sold
|
52.4
|
|
|
71.0
|
|
||
Other operation and maintenance
|
92.0
|
|
|
92.6
|
|
||
Depreciation and amortization
|
52.7
|
|
|
51.8
|
|
||
Taxes other than income taxes
|
13.7
|
|
|
14.1
|
|
||
Total operating expenses
|
396.7
|
|
|
423.5
|
|
||
Operating income
|
62.0
|
|
|
65.5
|
|
||
Interest expense and other:
|
|
|
|
||||
Interest expense
|
24.9
|
|
|
24.1
|
|
||
Allowance for funds used during construction
|
(10.3
|
)
|
|
(5.3
|
)
|
||
Interest income and other
|
—
|
|
|
(0.1
|
)
|
||
Total interest expense and other
|
14.6
|
|
|
18.7
|
|
||
Income before income taxes
|
47.4
|
|
|
46.8
|
|
||
Income tax benefit
|
(0.8
|
)
|
|
(3.3
|
)
|
||
Net income
|
48.2
|
|
|
50.1
|
|
||
Preferred dividend requirements
|
2.6
|
|
|
2.6
|
|
||
Earnings available for common stock
|
|
$45.6
|
|
|
|
$47.5
|
|
|
7
|
|
|
March 31,
2016 |
|
December 31,
2015 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$3.0
|
|
|
|
$4.5
|
|
Accounts receivable, less allowance for doubtful accounts
|
180.9
|
|
|
200.0
|
|
||
Production fuel, at weighted average cost
|
60.8
|
|
|
60.2
|
|
||
Gas stored underground, at weighted average cost
|
3.1
|
|
|
18.2
|
|
||
Materials and supplies, at weighted average cost
|
47.0
|
|
|
45.7
|
|
||
Regulatory assets
|
29.7
|
|
|
39.6
|
|
||
Other
|
13.8
|
|
|
28.2
|
|
||
Total current assets
|
338.3
|
|
|
396.4
|
|
||
Property, plant and equipment, net
|
4,993.8
|
|
|
4,925.1
|
|
||
Investments
|
0.7
|
|
|
19.6
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,376.2
|
|
|
1,363.0
|
|
||
Deferred charges and other
|
4.4
|
|
|
5.0
|
|
||
Total other assets
|
1,380.6
|
|
|
1,368.0
|
|
||
Total assets
|
|
$6,713.4
|
|
|
|
$6,709.1
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
|
$153.5
|
|
|
|
$197.2
|
|
Regulatory liabilities
|
133.1
|
|
|
130.9
|
|
||
Other
|
198.3
|
|
|
203.0
|
|
||
Total current liabilities
|
484.9
|
|
|
531.1
|
|
||
Long-term debt, net (excluding current portion)
|
1,857.4
|
|
|
1,856.9
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,408.9
|
|
|
1,378.0
|
|
||
Regulatory liabilities
|
335.1
|
|
|
358.3
|
|
||
Pension and other benefit obligations
|
160.5
|
|
|
160.2
|
|
||
Other
|
223.7
|
|
|
229.3
|
|
||
Total other liabilities
|
2,128.2
|
|
|
2,125.8
|
|
||
Commitments and contingencies (
Note 13
)
|
|
|
|
|
|
||
Equity:
|
|
|
|
||||
Interstate Power and Light Company common equity:
|
|
|
|
||||
Common stock - $2.50 par value - 24,000,000 shares authorized; 13,370,788 shares outstanding
|
33.4
|
|
|
33.4
|
|
||
Additional paid-in capital
|
1,447.9
|
|
|
1,407.8
|
|
||
Retained earnings
|
561.6
|
|
|
554.1
|
|
||
Total Interstate Power and Light Company common equity
|
2,042.9
|
|
|
1,995.3
|
|
||
Cumulative preferred stock
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
2,242.9
|
|
|
2,195.3
|
|
||
Total liabilities and equity
|
|
$6,713.4
|
|
|
|
$6,709.1
|
|
|
8
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$48.2
|
|
|
|
$50.1
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
52.7
|
|
|
51.8
|
|
||
Other
|
3.2
|
|
|
12.8
|
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(37.5
|
)
|
|
(2.2
|
)
|
||
Sales of accounts receivable
|
57.0
|
|
|
52.0
|
|
||
Gas stored underground
|
15.1
|
|
|
26.4
|
|
||
Accounts payable
|
(19.5
|
)
|
|
(36.1
|
)
|
||
Regulatory liabilities
|
(23.6
|
)
|
|
(11.8
|
)
|
||
Other
|
20.8
|
|
|
27.1
|
|
||
Net cash flows from operating activities
|
116.4
|
|
|
170.1
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Utility construction and acquisition expenditures
|
(135.3
|
)
|
|
(150.6
|
)
|
||
Other
|
12.1
|
|
|
(5.7
|
)
|
||
Net cash flows used for investing activities
|
(123.2
|
)
|
|
(156.3
|
)
|
||
Cash flows from (used for) financing activities:
|
|
|
|
||||
Common stock dividends
|
(38.1
|
)
|
|
(35.0
|
)
|
||
Capital contributions from parent
|
40.0
|
|
|
—
|
|
||
Other
|
3.4
|
|
|
18.5
|
|
||
Net cash flows from (used for) financing activities
|
5.3
|
|
|
(16.5
|
)
|
||
Net decrease in cash and cash equivalents
|
(1.5
|
)
|
|
(2.7
|
)
|
||
Cash and cash equivalents at beginning of period
|
4.5
|
|
|
5.3
|
|
||
Cash and cash equivalents at end of period
|
|
$3.0
|
|
|
|
$2.6
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash (paid) refunded during the period for:
|
|
|
|
||||
Interest
|
|
($22.6
|
)
|
|
|
($18.4
|
)
|
Income taxes, net
|
|
$1.1
|
|
|
|
$6.2
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$47.6
|
|
|
|
$82.8
|
|
|
9
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions)
|
||||||
Operating revenues:
|
|
|
|
||||
Electric utility
|
|
$307.3
|
|
|
|
$308.7
|
|
Gas utility
|
68.0
|
|
|
87.2
|
|
||
Other
|
0.3
|
|
|
1.2
|
|
||
Total operating revenues
|
375.6
|
|
|
397.1
|
|
||
Operating expenses:
|
|
|
|
||||
Electric production fuel and purchased power
|
101.5
|
|
|
105.8
|
|
||
Electric transmission service
|
41.4
|
|
|
39.3
|
|
||
Cost of gas sold
|
42.8
|
|
|
59.8
|
|
||
Other operation and maintenance
|
52.1
|
|
|
54.0
|
|
||
Depreciation and amortization
|
47.4
|
|
|
46.0
|
|
||
Taxes other than income taxes
|
11.6
|
|
|
11.4
|
|
||
Total operating expenses
|
296.8
|
|
|
316.3
|
|
||
Operating income
|
78.8
|
|
|
80.8
|
|
||
Interest expense and other:
|
|
|
|
||||
Interest expense
|
22.9
|
|
|
23.1
|
|
||
Equity income from unconsolidated investments
|
(10.7
|
)
|
|
(7.8
|
)
|
||
Allowance for funds used during construction
|
(2.9
|
)
|
|
(1.5
|
)
|
||
Interest income and other
|
(0.1
|
)
|
|
0.1
|
|
||
Total interest expense and other
|
9.2
|
|
|
13.9
|
|
||
Income before income taxes
|
69.6
|
|
|
66.9
|
|
||
Income taxes
|
22.6
|
|
|
21.8
|
|
||
Net income
|
47.0
|
|
|
45.1
|
|
||
Net income attributable to noncontrolling interest
|
0.5
|
|
|
0.2
|
|
||
Earnings available for common stock
|
|
$46.5
|
|
|
|
$44.9
|
|
|
10
|
|
|
March 31,
2016 |
|
December 31,
2015 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$1.3
|
|
|
|
$0.4
|
|
Accounts receivable, less allowance for doubtful accounts
|
192.6
|
|
|
185.4
|
|
||
Production fuel, at weighted average cost
|
37.2
|
|
|
38.6
|
|
||
Gas stored underground, at weighted average cost
|
12.8
|
|
|
25.1
|
|
||
Materials and supplies, at weighted average cost
|
34.0
|
|
|
33.5
|
|
||
Regulatory assets
|
81.8
|
|
|
80.6
|
|
||
Other
|
51.2
|
|
|
59.9
|
|
||
Total current assets
|
410.9
|
|
|
423.5
|
|
||
Property, plant and equipment, net
|
4,141.6
|
|
|
4,103.7
|
|
||
Investments:
|
|
|
|
||||
Investment in American Transmission Company LLC
|
302.5
|
|
|
293.3
|
|
||
Other
|
14.7
|
|
|
15.4
|
|
||
Total investments
|
317.2
|
|
|
308.7
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
429.5
|
|
|
425.4
|
|
||
Deferred charges and other
|
6.7
|
|
|
9.1
|
|
||
Total other assets
|
436.2
|
|
|
434.5
|
|
||
Total assets
|
|
$5,305.9
|
|
|
|
$5,270.4
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Commercial paper
|
|
$25.5
|
|
|
|
$19.9
|
|
Accounts payable
|
111.0
|
|
|
136.0
|
|
||
Regulatory liabilities
|
60.0
|
|
|
56.2
|
|
||
Other
|
146.7
|
|
|
124.8
|
|
||
Total current liabilities
|
343.2
|
|
|
336.9
|
|
||
Long-term debt, net (excluding current portion)
|
1,534.2
|
|
|
1,533.9
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,025.1
|
|
|
1,005.4
|
|
||
Regulatory liabilities
|
182.8
|
|
|
192.3
|
|
||
Capital lease obligations - Sheboygan Falls Energy Facility
|
82.1
|
|
|
83.6
|
|
||
Pension and other benefit obligations
|
186.4
|
|
|
188.7
|
|
||
Other
|
169.0
|
|
|
162.0
|
|
||
Total other liabilities
|
1,645.4
|
|
|
1,632.0
|
|
||
Commitments and contingencies (
Note 13
)
|
|
|
|
||||
Equity:
|
|
|
|
||||
Wisconsin Power and Light Company common equity:
|
|
|
|
||||
Common stock - $5 par value - 18,000,000 shares authorized; 13,236,601 shares outstanding
|
66.2
|
|
|
66.2
|
|
||
Additional paid-in capital
|
959.1
|
|
|
959.0
|
|
||
Retained earnings
|
743.8
|
|
|
731.1
|
|
||
Total Wisconsin Power and Light Company common equity
|
1,769.1
|
|
|
1,756.3
|
|
||
Noncontrolling interest
|
14.0
|
|
|
11.3
|
|
||
Total equity
|
1,783.1
|
|
|
1,767.6
|
|
||
Total liabilities and equity
|
|
$5,305.9
|
|
|
|
$5,270.4
|
|
|
11
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$47.0
|
|
|
|
$45.1
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
47.4
|
|
|
46.0
|
|
||
Deferred tax expense and investment tax credits
|
18.8
|
|
|
10.1
|
|
||
Other
|
(10.9
|
)
|
|
(0.9
|
)
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Gas stored underground
|
12.3
|
|
|
23.1
|
|
||
Accounts payable
|
(15.3
|
)
|
|
4.0
|
|
||
Derivative liabilities
|
19.5
|
|
|
4.6
|
|
||
Other
|
4.8
|
|
|
25.8
|
|
||
Net cash flows from operating activities
|
123.6
|
|
|
157.8
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Utility construction and acquisition expenditures
|
(85.1
|
)
|
|
(75.4
|
)
|
||
Other
|
(6.3
|
)
|
|
(3.0
|
)
|
||
Net cash flows used for investing activities
|
(91.4
|
)
|
|
(78.4
|
)
|
||
Cash flows used for financing activities:
|
|
|
|
||||
Common stock dividends
|
(33.8
|
)
|
|
(31.8
|
)
|
||
Other
|
2.5
|
|
|
(3.4
|
)
|
||
Net cash flows used for financing activities
|
(31.3
|
)
|
|
(35.2
|
)
|
||
Net increase in cash and cash equivalents
|
0.9
|
|
|
44.2
|
|
||
Cash and cash equivalents at beginning of period
|
0.4
|
|
|
46.7
|
|
||
Cash and cash equivalents at end of period
|
|
$1.3
|
|
|
|
$90.9
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash (paid) refunded during the period for:
|
|
|
|
||||
Interest
|
|
($21.9
|
)
|
|
|
($22.6
|
)
|
Income taxes, net
|
|
($7.4
|
)
|
|
|
$9.1
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$49.7
|
|
|
|
$32.9
|
|
|
12
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
March 31,
2016 |
|
December 31,
2015 |
|
March 31,
2016 |
|
December 31,
2015 |
|
March 31,
2016 |
|
December 31,
2015 |
||||||||||||
Tax-related
|
|
$1,002.7
|
|
|
|
$987.7
|
|
|
|
$972.0
|
|
|
|
$958.2
|
|
|
|
$30.7
|
|
|
|
$29.5
|
|
Pension and OPEB costs
|
570.0
|
|
|
579.5
|
|
|
293.6
|
|
|
298.1
|
|
|
276.4
|
|
|
281.4
|
|
||||||
AROs
|
96.1
|
|
|
92.4
|
|
|
54.1
|
|
|
50.8
|
|
|
42.0
|
|
|
41.6
|
|
||||||
Derivatives
|
86.6
|
|
|
70.6
|
|
|
25.5
|
|
|
28.2
|
|
|
61.1
|
|
|
42.4
|
|
||||||
WPL’s EGUs retired early
|
43.2
|
|
|
45.0
|
|
|
—
|
|
|
—
|
|
|
43.2
|
|
|
45.0
|
|
||||||
Emission allowances
|
26.7
|
|
|
26.9
|
|
|
26.7
|
|
|
26.9
|
|
|
—
|
|
|
—
|
|
||||||
Commodity cost recovery
|
26.3
|
|
|
35.9
|
|
|
0.3
|
|
|
2.8
|
|
|
26.0
|
|
|
33.1
|
|
||||||
Other
|
65.6
|
|
|
70.6
|
|
|
33.7
|
|
|
37.6
|
|
|
31.9
|
|
|
33.0
|
|
||||||
|
|
$1,917.2
|
|
|
|
$1,908.6
|
|
|
|
$1,405.9
|
|
|
|
$1,402.6
|
|
|
|
$511.3
|
|
|
|
$506.0
|
|
|
13
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
March 31,
2016 |
|
December 31,
2015 |
|
March 31,
2016 |
|
December 31,
2015 |
|
March 31,
2016 |
|
December 31,
2015 |
||||||||||||
Cost of removal obligations
|
|
$408.1
|
|
|
|
$406.0
|
|
|
|
$263.1
|
|
|
|
$260.4
|
|
|
|
$145.0
|
|
|
|
$145.6
|
|
IPL’s tax benefit riders
|
141.1
|
|
|
159.2
|
|
|
141.1
|
|
|
159.2
|
|
|
—
|
|
|
—
|
|
||||||
Electric transmission cost recovery
|
51.4
|
|
|
43.5
|
|
|
25.5
|
|
|
21.9
|
|
|
25.9
|
|
|
21.6
|
|
||||||
Energy efficiency cost recovery
|
41.6
|
|
|
48.3
|
|
|
—
|
|
|
—
|
|
|
41.6
|
|
|
48.3
|
|
||||||
Commodity cost recovery
|
35.2
|
|
|
37.6
|
|
|
20.4
|
|
|
23.5
|
|
|
14.8
|
|
|
14.1
|
|
||||||
Other
|
33.6
|
|
|
43.1
|
|
|
18.1
|
|
|
24.2
|
|
|
15.5
|
|
|
18.9
|
|
||||||
|
|
$711.0
|
|
|
|
$737.7
|
|
|
|
$468.2
|
|
|
|
$489.2
|
|
|
|
$242.8
|
|
|
|
$248.5
|
|
Electric tax benefit rider credits
|
|
$15
|
|
Gas tax benefit rider credits
|
3
|
|
|
|
|
$18
|
|
|
2016
|
|
2015
|
||
Billing credits to reduce retail electric customers’ bills
|
$2
|
|
|
$6
|
|
|
14
|
|
|
2016
|
|
2015
|
||||
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)
|
|
$75.0
|
|
|
|
$118.0
|
|
Average outstanding aggregate cash proceeds (based on daily outstanding balances)
|
39.1
|
|
|
68.0
|
|
|
March 31, 2016
|
|
December 31, 2015
|
||||
Customer accounts receivable
|
|
$142.7
|
|
|
|
$109.7
|
|
Unbilled utility revenues
|
77.5
|
|
|
71.3
|
|
||
Other receivables
|
0.3
|
|
|
0.1
|
|
||
Receivables sold to third party
|
220.5
|
|
|
181.1
|
|
||
Less: cash proceeds (a)
|
62.0
|
|
|
5.0
|
|
||
Deferred proceeds
|
158.5
|
|
|
176.1
|
|
||
Less: allowance for doubtful accounts
|
4.3
|
|
|
4.1
|
|
||
Fair value of deferred proceeds
|
|
$154.2
|
|
|
|
$172.0
|
|
(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.
|
|
2016
|
|
2015
|
||||
Collections reinvested in receivables
|
|
$440.2
|
|
|
|
$505.9
|
|
Credit losses, net of recoveries
|
0.4
|
|
|
1.0
|
|
|
Alliant Energy
|
|
WPL
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
ATC
|
|
($10.7
|
)
|
|
|
($7.8
|
)
|
|
|
($10.7
|
)
|
|
|
($7.8
|
)
|
Other
|
0.2
|
|
|
1.3
|
|
|
—
|
|
|
—
|
|
||||
|
|
($10.5
|
)
|
|
|
($6.5
|
)
|
|
|
($10.7
|
)
|
|
|
($7.8
|
)
|
|
15
|
|
Shares outstanding, January 1, 2016
|
113,459,216
|
|
Shareowner Direct Plan issuances
|
92,231
|
|
Equity-based compensation plans (
Note 9(b)
)
|
11,204
|
|
Shares outstanding, March 31, 2016
|
113,562,651
|
|
|
2016
|
|
2015
|
||||
Basic and diluted EPS:
|
|
|
|
||||
As reported
|
|
$0.85
|
|
|
|
$0.87
|
|
Pro forma
|
0.43
|
|
|
0.43
|
|
|
Alliant Energy
|
|
Parent
|
|
|
|
|
March 31, 2016
|
(Consolidated)
|
|
Company
|
|
IPL
|
|
WPL
|
Commercial paper:
|
|
|
|
|
|
|
|
Amount outstanding
|
$213.4
|
|
$187.9
|
|
$—
|
|
$25.5
|
Weighted average remaining maturity
|
2 days
|
|
2 days
|
|
N/A
|
|
1 day
|
Weighted average interest rates
|
0.6%
|
|
0.6%
|
|
N/A
|
|
0.4%
|
Available credit facility capacity
|
$786.6
|
|
$112.1
|
|
$300.0
|
|
$374.5
|
|
16
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||
Three Months Ended March 31
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||
Maximum amount outstanding
(based on daily outstanding balances)
|
|
$242.6
|
|
|
|
$151.3
|
|
|
|
$—
|
|
|
|
$1.4
|
|
|
$55.7
|
|
|
$—
|
|
Average amount outstanding
(based on daily outstanding balances)
|
|
$199.0
|
|
|
|
$127.9
|
|
|
|
$—
|
|
|
|
$—
|
|
|
$25.8
|
|
|
$—
|
|
Weighted average interest rates
|
0.6
|
%
|
|
0.4
|
%
|
|
N/A
|
|
|
0.4
|
%
|
|
0.4%
|
|
N/A
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Three Months Ended March 31
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||
Statutory federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
IPL’s tax benefit riders
|
(8.7
|
)
|
|
(9.9
|
)
|
|
(20.7
|
)
|
|
(25.2
|
)
|
|
—
|
|
|
—
|
|
Effect of rate-making on property-related differences
|
(6.8
|
)
|
|
(6.1
|
)
|
|
(15.2
|
)
|
|
(14.6
|
)
|
|
(0.8
|
)
|
|
(0.6
|
)
|
Production tax credits
|
(6.3
|
)
|
|
(6.2
|
)
|
|
(6.7
|
)
|
|
(7.1
|
)
|
|
(6.5
|
)
|
|
(6.2
|
)
|
Other items, net
|
4.5
|
|
|
4.3
|
|
|
5.9
|
|
|
4.8
|
|
|
4.8
|
|
|
4.4
|
|
Overall income tax rate
|
17.7
|
%
|
|
17.1
|
%
|
|
(1.7
|
%)
|
|
(7.1
|
%)
|
|
32.5
|
%
|
|
32.6
|
%
|
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Earliest
Expiration Date
|
|
Tax Carryforwards
|
|
Deferred
Tax Assets
|
|
Tax Carryforwards
|
|
Deferred
Tax Assets
|
|
Tax Carryforwards
|
|
Deferred
Tax Assets
|
||||||||||||
Federal net operating losses
|
2030
|
|
|
$733
|
|
|
|
$252
|
|
|
|
$330
|
|
|
|
$111
|
|
|
|
$298
|
|
|
|
$104
|
|
State net operating losses
|
2018
|
|
748
|
|
|
39
|
|
|
20
|
|
|
1
|
|
|
47
|
|
|
2
|
|
||||||
Federal tax credits
|
2022
|
|
250
|
|
|
246
|
|
|
89
|
|
|
86
|
|
|
101
|
|
|
101
|
|
||||||
|
|
|
|
|
|
$537
|
|
|
|
|
|
$198
|
|
|
|
|
|
$207
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Service cost
|
|
$3.2
|
|
|
|
$4.0
|
|
|
|
$1.3
|
|
|
|
$1.4
|
|
Interest cost
|
13.3
|
|
|
13.4
|
|
|
2.3
|
|
|
2.2
|
|
||||
Expected return on plan assets
|
(16.4
|
)
|
|
(18.7
|
)
|
|
(1.5
|
)
|
|
(2.1
|
)
|
||||
Amortization of prior service credit
|
(0.1
|
)
|
|
(0.1
|
)
|
|
(1.0
|
)
|
|
(2.8
|
)
|
||||
Amortization of actuarial loss
|
9.3
|
|
|
8.8
|
|
|
1.2
|
|
|
1.2
|
|
||||
Additional benefit costs
|
—
|
|
|
0.2
|
|
|
—
|
|
|
—
|
|
||||
|
|
$9.3
|
|
|
|
$7.6
|
|
|
|
$2.3
|
|
|
|
($0.1
|
)
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Service cost
|
|
$1.9
|
|
|
|
$2.2
|
|
|
|
$0.6
|
|
|
|
$0.6
|
|
Interest cost
|
6.1
|
|
|
6.2
|
|
|
1.0
|
|
|
0.9
|
|
||||
Expected return on plan assets
|
(7.7
|
)
|
|
(8.9
|
)
|
|
(1.0
|
)
|
|
(1.4
|
)
|
||||
Amortization of prior service credit
|
—
|
|
|
—
|
|
|
(0.7
|
)
|
|
(1.5
|
)
|
||||
Amortization of actuarial loss
|
4.1
|
|
|
3.8
|
|
|
0.6
|
|
|
0.6
|
|
||||
|
|
$4.4
|
|
|
|
$3.3
|
|
|
|
$0.5
|
|
|
|
($0.8
|
)
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Service cost
|
|
$1.2
|
|
|
|
$1.4
|
|
|
|
$0.5
|
|
|
|
$0.6
|
|
Interest cost
|
5.6
|
|
|
5.6
|
|
|
0.9
|
|
|
0.9
|
|
||||
Expected return on plan assets
|
(7.1
|
)
|
|
(8.1
|
)
|
|
(0.2
|
)
|
|
(0.4
|
)
|
||||
Amortization of prior service cost (credit)
|
0.1
|
|
|
0.1
|
|
|
(0.2
|
)
|
|
(0.9
|
)
|
||||
Amortization of actuarial loss
|
4.4
|
|
|
4.2
|
|
|
0.5
|
|
|
0.6
|
|
||||
Additional benefit costs
|
—
|
|
|
0.2
|
|
|
—
|
|
|
—
|
|
||||
|
|
$4.2
|
|
|
|
$3.4
|
|
|
|
$1.5
|
|
|
|
$0.8
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
401(k) costs
|
|
$6.2
|
|
|
|
$6.7
|
|
|
|
$3.1
|
|
|
|
$3.4
|
|
|
|
$2.8
|
|
|
|
$2.9
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Compensation expense
|
|
$5.3
|
|
|
|
$3.2
|
|
|
|
$2.8
|
|
|
|
$1.7
|
|
|
|
$2.3
|
|
|
|
$1.4
|
|
Income tax benefits
|
2.2
|
|
|
1.3
|
|
|
1.1
|
|
|
0.7
|
|
|
0.9
|
|
|
0.6
|
|
|
18
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||
Nonvested awards, January 1
|
144,215
|
|
|
144,424
|
|
|
58,206
|
|
|
63,665
|
|
Granted
|
33,776
|
|
|
45,403
|
|
|
11,959
|
|
|
17,837
|
|
Vested
|
(49,093
|
)
|
|
(45,612
|
)
|
|
(21,380
|
)
|
|
(22,845
|
)
|
Forfeited
|
(615
|
)
|
|
—
|
|
|
(382
|
)
|
|
(93
|
)
|
Nonvested awards, March 31
|
128,283
|
|
|
144,215
|
|
|
48,403
|
|
|
58,564
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
2013 Grant
|
|
2012 Grant
|
|
2013 Grant
|
|
2012 Grant
|
||||||||
Performance awards vested
|
49,093
|
|
|
45,612
|
|
|
21,380
|
|
|
22,845
|
|
||||
Percentage of target number of performance awards
|
165.0
|
%
|
|
167.5
|
%
|
|
165.0
|
%
|
|
167.5
|
%
|
||||
Aggregate payout value (in millions)
|
|
$5.1
|
|
|
|
$5.1
|
|
|
|
$1.7
|
|
|
|
$1.6
|
|
Payout - cash (in millions)
|
|
$2.9
|
|
|
|
$3.2
|
|
|
|
$1.7
|
|
|
|
$1.6
|
|
Payout - common stock shares issued
|
11,204
|
|
|
10,975
|
|
|
N/A
|
|
N/A
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||||||||||
|
2016 Grant
|
|
2015 Grant
|
|
2014 Grant
|
|
2016 Grant
|
|
2015 Grant
|
|
2014 Grant
|
||||||||||||
Nonvested awards
|
33,161
|
|
|
45,403
|
|
|
49,719
|
|
|
11,959
|
|
|
17,209
|
|
|
19,235
|
|
||||||
Alliant Energy common stock closing price on March 31, 2016
|
|
$74.28
|
|
|
|
$74.28
|
|
|
|
$74.28
|
|
|
|
$74.28
|
|
|
N/A
|
|
N/A
|
||||
Alliant Energy common stock closing price on grant date
|
N/A
|
|
N/A
|
|
N/A
|
|
N/A
|
|
|
$65.09
|
|
|
|
$53.77
|
|
||||||||
Estimated payout percentage based on performance criteria
|
108
|
%
|
|
90
|
%
|
|
138
|
%
|
|
108
|
%
|
|
90
|
%
|
|
138
|
%
|
||||||
Fair values of each nonvested award
|
|
$80.22
|
|
|
|
$66.85
|
|
|
|
$102.51
|
|
|
|
$80.22
|
|
|
|
$58.58
|
|
|
|
$74.20
|
|
|
2016
|
|
2015
|
||||||||||
|
Shares
|
|
Weighted Average
Grant Date Fair Value
|
|
Shares
|
|
Weighted Average
Grant Date Fair Value
|
||||||
Nonvested shares, January 1
|
95,122
|
|
|
|
$59.17
|
|
|
98,812
|
|
|
|
$50.69
|
|
Granted
|
—
|
|
|
—
|
|
|
45,403
|
|
|
65.09
|
|
||
Vested (a)
|
—
|
|
|
—
|
|
|
(49,093
|
)
|
|
47.58
|
|
||
Nonvested shares, March 31
|
95,122
|
|
|
59.17
|
|
|
95,122
|
|
|
59.17
|
|
|
19
|
|
(a)
|
In 2015,
49,093
performance contingent restricted shares granted in 2013 vested because the specified performance criteria for such shares were met.
|
|
2016
|
|
Granted
|
11,959
|
|
Nonvested units, March 31
|
11,959
|
|
|
20
|
|
|
2016
|
||||
|
Restricted Stock Units
|
|
Restricted Units
|
||
Granted
|
28,952
|
|
|
10,251
|
|
Forfeited
|
(527
|
)
|
|
—
|
|
Nonvested units, March 31
|
28,425
|
|
|
10,251
|
|
|
2016
|
|
2015
|
||
Nonvested awards, January 1
|
81,876
|
|
|
78,930
|
|
Granted
|
—
|
|
|
41,105
|
|
Vested (a)
|
—
|
|
|
(37,332
|
)
|
Forfeited
|
(382
|
)
|
|
(469
|
)
|
Nonvested awards, March 31
|
81,494
|
|
|
82,234
|
|
(a)
|
In 2015,
37,332
performance-contingent cash awards granted in 2013 vested, resulting in cash payouts valued at
$2.4 million
.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Balance, January 1
|
|
$214.0
|
|
|
|
$114.0
|
|
|
|
$132.9
|
|
|
|
$51.8
|
|
|
|
$71.9
|
|
|
|
$52.4
|
|
Revisions in estimated cash flows
|
0.5
|
|
|
—
|
|
|
0.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Liabilities settled
|
(2.7
|
)
|
|
(2.2
|
)
|
|
(0.7
|
)
|
|
(2.2
|
)
|
|
(2.0
|
)
|
|
—
|
|
||||||
Liabilities incurred
|
0.7
|
|
|
—
|
|
|
0.7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Accretion expense
|
1.6
|
|
|
1.0
|
|
|
0.9
|
|
|
0.4
|
|
|
0.6
|
|
|
0.4
|
|
||||||
Balance, March 31
|
|
$214.1
|
|
|
|
$112.8
|
|
|
|
$134.3
|
|
|
|
$50.0
|
|
|
|
$70.5
|
|
|
|
$52.8
|
|
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)
|
Manage rail transportation costs
|
Diesel fuel swap contracts (WPL)
|
|
21
|
|
Alliant Energy
|
March 31, 2016
|
|
December 31, 2015
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$7.7
|
|
|
|
$—
|
|
|
|
$1.2
|
|
|
|
$6.5
|
|
|
|
$7.7
|
|
|
|
$18.4
|
|
|
|
$—
|
|
|
|
$2.5
|
|
|
|
$15.9
|
|
|
|
$18.4
|
|
Deferred proceeds
|
154.2
|
|
|
—
|
|
|
—
|
|
|
154.2
|
|
|
154.2
|
|
|
172.0
|
|
|
—
|
|
|
—
|
|
|
172.0
|
|
|
172.0
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
84.0
|
|
|
—
|
|
|
11.6
|
|
|
72.4
|
|
|
84.0
|
|
|
64.6
|
|
|
—
|
|
|
16.0
|
|
|
48.6
|
|
|
64.6
|
|
||||||||||
Long-term debt (including current maturities)
|
3,836.1
|
|
|
—
|
|
|
4,452.3
|
|
|
3.3
|
|
|
4,455.6
|
|
|
3,835.6
|
|
|
—
|
|
|
4,332.4
|
|
|
3.7
|
|
|
4,336.1
|
|
||||||||||
Cumulative preferred stock of IPL
|
200.0
|
|
|
208.3
|
|
|
—
|
|
|
—
|
|
|
208.3
|
|
|
200.0
|
|
|
206.6
|
|
|
—
|
|
|
—
|
|
|
206.6
|
|
|
22
|
|
IPL
|
March 31, 2016
|
|
December 31, 2015
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$5.8
|
|
|
|
$—
|
|
|
|
$1.1
|
|
|
|
$4.7
|
|
|
|
$5.8
|
|
|
|
$15.5
|
|
|
|
$—
|
|
|
|
$2.0
|
|
|
|
$13.5
|
|
|
|
$15.5
|
|
Deferred proceeds
|
154.2
|
|
|
—
|
|
|
—
|
|
|
154.2
|
|
|
154.2
|
|
|
172.0
|
|
|
—
|
|
|
—
|
|
|
172.0
|
|
|
172.0
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
23.3
|
|
|
—
|
|
|
5.5
|
|
|
17.8
|
|
|
23.3
|
|
|
23.4
|
|
|
—
|
|
|
8.0
|
|
|
15.4
|
|
|
23.4
|
|
||||||||||
Long-term debt (including current maturities)
|
1,857.4
|
|
|
—
|
|
|
2,147.2
|
|
|
—
|
|
|
2,147.2
|
|
|
1,856.9
|
|
|
—
|
|
|
2,092.7
|
|
|
—
|
|
|
2,092.7
|
|
||||||||||
Cumulative preferred stock
|
200.0
|
|
|
208.3
|
|
|
—
|
|
|
—
|
|
|
208.3
|
|
|
200.0
|
|
|
206.6
|
|
|
—
|
|
|
—
|
|
|
206.6
|
|
WPL
|
March 31, 2016
|
|
December 31, 2015
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$1.9
|
|
|
|
$—
|
|
|
|
$0.1
|
|
|
|
$1.8
|
|
|
|
$1.9
|
|
|
|
$2.9
|
|
|
|
$—
|
|
|
|
$0.5
|
|
|
|
$2.4
|
|
|
|
$2.9
|
|
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
60.7
|
|
|
—
|
|
|
6.1
|
|
|
54.6
|
|
|
60.7
|
|
|
41.2
|
|
|
—
|
|
|
8.0
|
|
|
33.2
|
|
|
41.2
|
|
||||||||||
Long-term debt (including current maturities)
|
1,534.2
|
|
|
—
|
|
|
1,854.3
|
|
|
—
|
|
|
1,854.3
|
|
|
1,533.9
|
|
|
—
|
|
|
1,793.0
|
|
|
—
|
|
|
1,793.0
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended March 31
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Beginning balance, January 1
|
|
($32.7
|
)
|
|
|
$17.9
|
|
|
|
$172.0
|
|
|
|
$177.2
|
|
Total net losses included in changes in net assets (realized/unrealized)
|
(31.4
|
)
|
|
(18.1
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers into Level 3
|
0.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.6
|
)
|
|
(0.9
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(2.1
|
)
|
|
(12.0
|
)
|
|
(17.8
|
)
|
|
(59.5
|
)
|
||||
Ending balance, March 31
|
|
($65.9
|
)
|
|
|
($13.1
|
)
|
|
|
$154.2
|
|
|
|
$117.7
|
|
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 March 31
|
|
($30.0
|
)
|
|
|
($16.5
|
)
|
|
|
$—
|
|
|
|
$—
|
|
|
23
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended March 31
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Beginning balance, January 1
|
|
($1.9
|
)
|
|
|
$19.4
|
|
|
|
$172.0
|
|
|
|
$177.2
|
|
Total net losses included in changes in net assets (realized/unrealized)
|
(7.6
|
)
|
|
(12.5
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers into Level 3
|
0.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.6
|
)
|
|
(0.9
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(3.5
|
)
|
|
(11.0
|
)
|
|
(17.8
|
)
|
|
(59.5
|
)
|
||||
Ending balance, March 31
|
|
($13.1
|
)
|
|
|
($5.0
|
)
|
|
|
$154.2
|
|
|
|
$117.7
|
|
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 March 31
|
|
($6.6
|
)
|
|
|
($10.7
|
)
|
|
|
$—
|
|
|
|
$—
|
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
Three Months Ended March 31
|
2016
|
|
2015
|
||||
Beginning balance, January 1
|
|
($30.8
|
)
|
|
|
($1.5
|
)
|
Total net losses included in changes in net assets (realized/unrealized)
|
(23.8
|
)
|
|
(5.6
|
)
|
||
Transfers into Level 3
|
0.4
|
|
|
—
|
|
||
Settlements
|
1.4
|
|
|
(1.0
|
)
|
||
Ending balance, March 31
|
|
($52.8
|
)
|
|
|
($8.1
|
)
|
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 March 31
|
|
($23.4
|
)
|
|
|
($5.8
|
)
|
(a)
|
Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash proceeds received from the receivables sold.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
||||||||||||
March 31, 2016
|
|
($67.9
|
)
|
|
|
$2.0
|
|
|
|
($15.0
|
)
|
|
|
$1.9
|
|
|
|
($52.9
|
)
|
|
|
$0.1
|
|
December 31, 2015
|
(43.1
|
)
|
|
10.4
|
|
|
(12.3
|
)
|
|
10.4
|
|
|
(30.8
|
)
|
|
—
|
|
|
Electricity
|
|
FTRs
|
|
Natural Gas
|
|
Coal
|
|
Diesel Fuel
|
|||||||||||||||
|
MWhs
|
|
Years
|
|
MWhs
|
|
Years
|
|
Dths
|
|
Years
|
|
Tons
|
|
Years
|
|
Gallons
|
|
Years
|
|||||
Alliant Energy
|
5,115
|
|
|
2016-2018
|
|
3,768
|
|
|
2016
|
|
94,635
|
|
|
2016-2020
|
|
4,240
|
|
|
2016-2018
|
|
5,292
|
|
|
2016-2017
|
IPL
|
660
|
|
|
2016
|
|
2,232
|
|
|
2016
|
|
49,747
|
|
|
2016-2020
|
|
1,661
|
|
|
2016-2018
|
|
—
|
|
|
—
|
WPL
|
4,455
|
|
|
2016-2018
|
|
1,536
|
|
|
2016
|
|
44,888
|
|
|
2016-2020
|
|
2,579
|
|
|
2016-2018
|
|
5,292
|
|
|
2016-2017
|
|
24
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Commodity contracts
|
March 31,
2016 |
|
December 31,
2015 |
|
March 31,
2016 |
|
December 31,
2015 |
|
March 31,
2016 |
|
December 31,
2015 |
||||||||||||
Current derivative assets
|
|
$6.1
|
|
|
|
$15.1
|
|
|
|
$4.8
|
|
|
|
$13.8
|
|
|
|
$1.3
|
|
|
|
$1.3
|
|
Non-current derivative assets
|
1.6
|
|
|
3.3
|
|
|
1.0
|
|
|
1.7
|
|
|
0.6
|
|
|
1.6
|
|
||||||
Current derivative liabilities
|
56.3
|
|
|
47.3
|
|
|
18.7
|
|
|
18.5
|
|
|
37.6
|
|
|
28.8
|
|
||||||
Non-current derivative liabilities
|
27.7
|
|
|
17.3
|
|
|
4.6
|
|
|
4.9
|
|
|
23.1
|
|
|
12.4
|
|
|
25
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Purchased power (a):
|
|
|
|
|
|
||||||
DAEC (IPL)
|
|
$1,390
|
|
|
|
$1,390
|
|
|
|
$—
|
|
Other
|
145
|
|
|
1
|
|
|
144
|
|
|||
|
1,535
|
|
|
1,391
|
|
|
144
|
|
|||
Natural gas
|
408
|
|
|
225
|
|
|
183
|
|
|||
Coal (b)
|
238
|
|
|
102
|
|
|
136
|
|
|||
SO2 emission allowances
|
8
|
|
|
8
|
|
|
—
|
|
|||
Other (c)
|
24
|
|
|
5
|
|
|
2
|
|
|||
|
|
$2,213
|
|
|
|
$1,731
|
|
|
|
$465
|
|
(a)
|
Includes payments required by purchased power agreements for capacity rights and minimum quantities of MWhs required to be purchased.
|
(b)
|
Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of
March 31, 2016
regarding expected future usage, which is subject to change.
|
(c)
|
Includes individual commitments incurred during the normal course of business that exceeded
$1 million
at
March 31, 2016
.
|
|
26
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Range of estimated future costs
|
|
$12
|
|
-
|
$28
|
|
|
$10
|
|
-
|
$24
|
|
|
$2
|
|
-
|
$4
|
Current and non-current environmental liabilities
|
16
|
|
13
|
|
3
|
|
27
|
|
|
Utility
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
Three Months Ended March 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$668.9
|
|
|
|
$152.2
|
|
|
|
$13.2
|
|
|
|
$834.3
|
|
|
|
$9.5
|
|
|
|
$843.8
|
|
Operating income
|
109.8
|
|
|
28.8
|
|
|
2.2
|
|
|
140.8
|
|
|
5.1
|
|
|
145.9
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income from continuing operations, net of tax
|
|
|
|
|
|
|
92.1
|
|
|
5.5
|
|
|
97.6
|
|
|||||||||
Loss from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
(1.1
|
)
|
|
(1.1
|
)
|
|||||||||
Net income
|
|
|
|
|
|
|
92.1
|
|
|
4.4
|
|
|
96.5
|
|
|||||||||
Three Months Ended March 31, 2015
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$671.3
|
|
|
|
$198.4
|
|
|
|
$16.4
|
|
|
|
$886.1
|
|
|
|
$11.3
|
|
|
|
$897.4
|
|
Operating income
|
104.7
|
|
|
36.3
|
|
|
5.3
|
|
|
146.3
|
|
|
6.6
|
|
|
152.9
|
|
||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
92.4
|
|
|
4.2
|
|
|
96.6
|
|
|
28
|
|
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Three Months Ended March 31, 2016
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$361.6
|
|
|
|
$84.2
|
|
|
|
$12.9
|
|
|
|
$458.7
|
|
Operating income
|
43.4
|
|
|
15.8
|
|
|
2.8
|
|
|
62.0
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
45.6
|
|
|||||||
Three Months Ended March 31, 2015
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$362.6
|
|
|
|
$111.2
|
|
|
|
$15.2
|
|
|
|
$489.0
|
|
Operating income
|
40.3
|
|
|
20.6
|
|
|
4.6
|
|
|
65.5
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
47.5
|
|
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Three Months Ended March 31, 2016
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$307.3
|
|
|
|
$68.0
|
|
|
|
$0.3
|
|
|
|
$375.6
|
|
Operating income (loss)
|
66.4
|
|
|
13.0
|
|
|
(0.6
|
)
|
|
78.8
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
46.5
|
|
|||||||
Three Months Ended March 31, 2015
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$308.7
|
|
|
|
$87.2
|
|
|
|
$1.2
|
|
|
|
$397.1
|
|
Operating income
|
64.4
|
|
|
15.7
|
|
|
0.7
|
|
|
80.8
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
44.9
|
|
|
IPL
|
|
WPL
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Corporate Services billings
|
|
$38
|
|
|
|
$36
|
|
|
|
$33
|
|
|
|
$28
|
|
Sales credited
|
1
|
|
|
4
|
|
|
1
|
|
|
6
|
|
||||
Purchases billed
|
96
|
|
|
79
|
|
|
19
|
|
|
14
|
|
|
IPL
|
|
WPL
|
||||
|
March 31, 2016
|
|
December 31, 2015
|
|
March 31, 2016
|
|
December 31, 2015
|
Net payables to Corporate Services
|
$100
|
|
$93
|
|
$59
|
|
$54
|
|
2016
|
|
2015
|
||||
ATC billings to WPL
|
|
$27
|
|
|
|
$25
|
|
WPL billings to ATC
|
3
|
|
|
2
|
|
|
29
|
|
|
2016
|
||
Operating expenses
|
|
$1.9
|
|
Loss before income taxes
|
(1.9
|
)
|
|
Income tax benefit
|
(0.8
|
)
|
|
Loss from discontinued operations, net of tax
|
|
($1.1
|
)
|
|
2016
|
|
2015
|
||||||||||||
|
Income (Loss)
|
|
EPS (a)
|
|
Income (Loss)
|
|
EPS (a)
|
||||||||
Continuing operations:
|
|
|
|
|
|
|
|
||||||||
Utilities, ATC and Corporate Services
|
|
$95.4
|
|
|
|
$0.84
|
|
|
|
$95.1
|
|
|
|
$0.86
|
|
Non-regulated and Parent
|
2.2
|
|
|
0.02
|
|
|
1.5
|
|
|
0.01
|
|
||||
Income from continuing operations
|
97.6
|
|
|
0.86
|
|
|
96.6
|
|
|
0.87
|
|
||||
Loss from discontinued operations
|
(1.1
|
)
|
|
(0.01
|
)
|
|
—
|
|
|
—
|
|
||||
Net income
|
|
$96.5
|
|
|
|
$0.85
|
|
|
|
$96.6
|
|
|
|
$0.87
|
|
(a)
|
Amounts do not reflect the effects of a two-for-one common stock split approved by Alliant Energy’s Board of Directors on April 20, 2016. Refer to
Note 6
for additional details.
|
•
|
WPL’s Construction of the Riverside Expansion
-
In March 2016, WPL received a decision from the PSCW authorizing WPL to construct a natural gas-fired combined-cycle EGU in Beloit, Wisconsin, referred to as the Riverside expansion. The Riverside expansion is subject to the receipt of various other approvals and permits necessary to construct and operate the EGU and connect such EGU to the transmission system. Subject to such approvals, construction is currently expected to begin in 2016 and be completed by early 2020.
|
•
|
Common Stock Split
-
In April 2016, Alliant Energy’s Board of Directors approved a two
-for-one
common stock split and a proportionate increase in the number of shares of common stock of Alliant Energy from 240 million shares to 480 million shares to implement the stock split. Alliant Energy shareowners of record at the close of business on May 4, 2016 will receive one additional share of Alliant Energy common stock for each share held on that date. The proportionate interest that a shareowner owns in Alliant Energy will not change as a result of the stock split. The additional shares are expected to be distributed on May 19, 2016 and post-split trading is expected to begin on May 20, 2016. Based on common shares outstanding as of March 31, 2016, upon the completion of the stock split, Alliant Energy will have approximately 227 million shares of common stock outstanding. The stock split will require all historical common stock shares and EPS data to be recast in the
second
quarter of 2016.
|
•
|
Gas Transmission and Distribution Systems -
In March 2016, the Pipeline and Hazardous Materials Safety Administration announced proposed regulations to update safety requirements for gas pipelines. The proposed regulations would add new assessment and repair criteria for gas pipelines, and require a systematic approach to verify a pipeline’s maximum allowable operating pressure. IPL and WPL currently anticipate final regulations will be issued in 2017.
|
|
31
|
|
•
|
Attachment “O” Rates -
In March 2016, FERC issued an order concluding that ITC acted imprudently by failing to take advantage of tax savings benefits available through bonus tax depreciation deductions. The FERC order requires ITC to recalculate its Attachment “O” rate to simulate taking bonus tax depreciation deductions beginning January 1, 2015. In April 2016, ITC filed a request for rehearing of FERC’s March 2016 order. IPL subsequently filed a response to ITC’s request for rehearing, requesting that FERC require ITC to also take bonus tax depreciation deductions for 2012 through 2014. Alliant Energy and IPL are unable to determine the magnitude of resulting changes to future electric transmission service charges from this proceeding, but do expect such charges to be lower as a result of FERC’s March 2016 order.
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2016
|
|
2015
|
|
Change
|
|
2016
|
|
2015
|
|
Change
|
||||||||
Residential (a)
|
|
$241.3
|
|
|
|
$257.3
|
|
|
(6
|
%)
|
|
1,841
|
|
|
2,052
|
|
|
(10
|
%)
|
Commercial (a)
|
162.1
|
|
|
155.2
|
|
|
4
|
%
|
|
1,596
|
|
|
1,596
|
|
|
—
|
%
|
||
Industrial - IPL co-generation customers
|
17.5
|
|
|
14.6
|
|
|
20
|
%
|
|
262
|
|
|
231
|
|
|
13
|
%
|
||
Industrial - other (a)
|
175.1
|
|
|
172.6
|
|
|
1
|
%
|
|
2,504
|
|
|
2,629
|
|
|
(5
|
%)
|
||
Retail subtotal (a)
|
596.0
|
|
|
599.7
|
|
|
(1
|
%)
|
|
6,203
|
|
|
6,508
|
|
|
(5
|
%)
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale (a)
|
62.0
|
|
|
52.0
|
|
|
19
|
%
|
|
980
|
|
|
864
|
|
|
13
|
%
|
||
Bulk power and other
|
1.3
|
|
|
8.2
|
|
|
(84
|
%)
|
|
99
|
|
|
418
|
|
|
(76
|
%)
|
||
Other
|
9.6
|
|
|
11.4
|
|
|
(16
|
%)
|
|
25
|
|
|
37
|
|
|
(32
|
%)
|
||
Total revenues/sales
|
668.9
|
|
|
671.3
|
|
|
—
|
%
|
|
7,307
|
|
|
7,827
|
|
|
(7
|
%)
|
||
Electric production fuel expense
|
99.0
|
|
|
136.8
|
|
|
(28
|
%)
|
|
|
|
|
|
|
|||||
Energy purchases expense
|
101.5
|
|
|
78.9
|
|
|
29
|
%
|
|
|
|
|
|
|
|||||
Purchased electric capacity expense
|
0.4
|
|
|
0.2
|
|
|
100
|
%
|
|
|
|
|
|
|
|||||
Electric transmission service expense
|
127.9
|
|
|
123.2
|
|
|
4
|
%
|
|
|
|
|
|
|
|||||
Electric margins (b)
|
|
$340.1
|
|
|
|
$332.2
|
|
|
2
|
%
|
|
|
|
|
|
|
|
32
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2016
|
|
2015
|
|
Change
|
|
2016
|
|
2015
|
|
Change
|
||||||||
Residential (a)
|
|
$129.8
|
|
|
|
$143.1
|
|
|
(9
|
%)
|
|
970
|
|
|
1,131
|
|
|
(14
|
%)
|
Commercial (a)
|
98.3
|
|
|
96.5
|
|
|
2
|
%
|
|
1,005
|
|
|
1,019
|
|
|
(1
|
%)
|
||
Industrial - IPL co-generation customers
|
17.5
|
|
|
14.6
|
|
|
20
|
%
|
|
262
|
|
|
231
|
|
|
13
|
%
|
||
Industrial - other (a)
|
86.0
|
|
|
90.4
|
|
|
(5
|
%)
|
|
1,354
|
|
|
1,502
|
|
|
(10
|
%)
|
||
Retail subtotal (a)
|
331.6
|
|
|
344.6
|
|
|
(4
|
%)
|
|
3,591
|
|
|
3,883
|
|
|
(8
|
%)
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale (a)
|
23.2
|
|
|
7.6
|
|
|
205
|
%
|
|
340
|
|
|
119
|
|
|
186
|
%
|
||
Bulk power and other
|
0.6
|
|
|
2.5
|
|
|
(76
|
%)
|
|
8
|
|
|
124
|
|
|
(94
|
%)
|
||
Other
|
6.2
|
|
|
7.9
|
|
|
(22
|
%)
|
|
9
|
|
|
19
|
|
|
(53
|
%)
|
||
Total revenues/sales
|
361.6
|
|
|
362.6
|
|
|
—
|
%
|
|
3,948
|
|
|
4,145
|
|
|
(5
|
%)
|
||
Electric production fuel expense
|
35.2
|
|
|
63.5
|
|
|
(45
|
%)
|
|
|
|
|
|
|
|||||
Energy purchases expense
|
64.1
|
|
|
46.6
|
|
|
38
|
%
|
|
|
|
|
|
|
|||||
Purchased electric capacity expense
|
0.1
|
|
|
—
|
|
|
N/A
|
|
|
|
|
|
|
|
|||||
Electric transmission service expense
|
86.5
|
|
|
83.9
|
|
|
3
|
%
|
|
|
|
|
|
|
|||||
Electric margins (b)
|
|
$175.7
|
|
|
|
$168.6
|
|
|
4
|
%
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2016
|
|
2015
|
|
Change
|
|
2016
|
|
2015
|
|
Change
|
||||||||
Residential
|
|
$111.5
|
|
|
|
$114.2
|
|
|
(2
|
%)
|
|
871
|
|
|
921
|
|
|
(5
|
%)
|
Commercial
|
63.8
|
|
|
58.7
|
|
|
9
|
%
|
|
591
|
|
|
577
|
|
|
2
|
%
|
||
Industrial
|
89.1
|
|
|
82.2
|
|
|
8
|
%
|
|
1,150
|
|
|
1,127
|
|
|
2
|
%
|
||
Retail subtotal
|
264.4
|
|
|
255.1
|
|
|
4
|
%
|
|
2,612
|
|
|
2,625
|
|
|
—
|
%
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale
|
38.8
|
|
|
44.4
|
|
|
(13
|
%)
|
|
640
|
|
|
745
|
|
|
(14
|
%)
|
||
Bulk power and other
|
0.7
|
|
|
5.7
|
|
|
(88
|
%)
|
|
91
|
|
|
294
|
|
|
(69
|
%)
|
||
Other
|
3.4
|
|
|
3.5
|
|
|
(3
|
%)
|
|
16
|
|
|
18
|
|
|
(11
|
%)
|
||
Total revenues/sales
|
307.3
|
|
|
308.7
|
|
|
—
|
%
|
|
3,359
|
|
|
3,682
|
|
|
(9
|
%)
|
||
Electric production fuel expense
|
63.8
|
|
|
73.3
|
|
|
(13
|
%)
|
|
|
|
|
|
|
|||||
Energy purchases expense
|
37.4
|
|
|
32.3
|
|
|
16
|
%
|
|
|
|
|
|
|
|||||
Purchased electric capacity expense
|
0.3
|
|
|
0.2
|
|
|
50
|
%
|
|
|
|
|
|
|
|||||
Electric transmission service expense
|
41.4
|
|
|
39.3
|
|
|
5
|
%
|
|
|
|
|
|
|
|||||
Electric margins
|
|
$164.4
|
|
|
|
$163.6
|
|
|
—
|
%
|
|
|
|
|
|
|
(a)
|
In July 2015, IPL sold its electric distribution assets in Minnesota to Southern Minnesota Energy Cooperative. Prior to the asset sale, the electric sales to retail customers are included in residential, commercial and industrial sales. Subsequent to the asset sale, the related electric sales are included in wholesale electric sales pursuant to the wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative.
|
(b)
|
Includes $15 million and $18 million of credits on IPL’s Iowa retail electric customers’ bills for the
first
quarters of
2016
and
2015
, respectively, resulting from the electric tax benefit rider. The electric tax benefit rider results in reductions in electric revenues that are offset by reductions in income tax expense for the years ended December 31,
2016
and
2015
.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Retail electric customer billing credits at IPL (Refer to
Note 2
for further details)
|
|
$4
|
|
|
|
$4
|
|
|
|
$—
|
|
Higher retail electric sales due to one additional day in 2016 for leap year
|
4
|
|
|
2
|
|
|
2
|
|
|||
Higher revenues at IPL due to changes in credits on Iowa retail electric customers’ bills resulting from the electric tax benefit rider (Refer to
Note 2
for further details)
|
3
|
|
|
3
|
|
|
—
|
|
|||
Estimated changes in sales caused by temperatures
|
(11
|
)
|
|
(6
|
)
|
|
(5
|
)
|
|||
Other (a)
|
8
|
|
|
4
|
|
|
4
|
|
|||
|
|
$8
|
|
|
|
$7
|
|
|
|
$1
|
|
|
33
|
|
(a)
|
Includes increases in retail temperature-normalized sales volumes at IPL and WPL. Refer to “Sales Trends” below for further details.
|
|
Actual
|
|
|
|||||
|
2016
|
|
2015
|
|
Normal
|
|||
HDD (a):
|
|
|
|
|
|
|||
Cedar Rapids, Iowa (IPL)
|
3,069
|
|
|
3,690
|
|
|
3,432
|
|
Madison, Wisconsin (WPL)
|
3,258
|
|
|
3,834
|
|
|
3,519
|
|
(a)
|
HDD are calculated using a simple average of the high and low temperatures each day compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year average of historical HDD.
|
|
2016
|
|
2015
|
|
Resulting Impact in 2016 Compared to 2015
|
First quarter (HDD)
|
10% warmer than normal
|
|
10% colder than normal
|
|
Decrease in IPL’s and WPL’s electric and gas sales due to lower demand by customers for heating
|
|
2016
|
|
2015
|
|
Change
|
||||||
IPL
|
|
($4
|
)
|
|
|
$2
|
|
|
|
($6
|
)
|
WPL
|
(2
|
)
|
|
3
|
|
|
(5
|
)
|
|||
Total Alliant Energy
|
|
($6
|
)
|
|
|
$5
|
|
|
|
($11
|
)
|
|
34
|
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2016
|
|
2015
|
|
Change
|
|
2016
|
|
2015
|
|
Change
|
||||||||
Residential
|
|
$88.1
|
|
|
|
$116.9
|
|
|
(25
|
%)
|
|
12,116
|
|
|
14,986
|
|
|
(19
|
%)
|
Commercial
|
49.9
|
|
|
65.3
|
|
|
(24
|
%)
|
|
8,084
|
|
|
9,568
|
|
|
(16
|
%)
|
||
Industrial
|
5.0
|
|
|
5.9
|
|
|
(15
|
%)
|
|
971
|
|
|
1,023
|
|
|
(5
|
%)
|
||
Retail subtotal
|
143.0
|
|
|
188.1
|
|
|
(24
|
%)
|
|
21,171
|
|
|
25,577
|
|
|
(17
|
%)
|
||
Transportation/other
|
9.2
|
|
|
10.3
|
|
|
(11
|
%)
|
|
22,235
|
|
|
22,587
|
|
|
(2
|
%)
|
||
Total revenues/sales
|
152.2
|
|
|
198.4
|
|
|
(23
|
%)
|
|
43,406
|
|
|
48,164
|
|
|
(10
|
%)
|
||
Cost of gas sold
|
95.2
|
|
|
130.8
|
|
|
(27
|
%)
|
|
|
|
|
|
|
|||||
Gas margins (a)
|
|
$57.0
|
|
|
|
$67.6
|
|
|
(16
|
%)
|
|
|
|
|
|
|
|
35
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2016
|
|
2015
|
|
Change
|
|
2016
|
|
2015
|
|
Change
|
||||||||
Residential
|
|
$48.8
|
|
|
|
$65.1
|
|
|
(25
|
%)
|
|
6,616
|
|
|
8,390
|
|
|
(21
|
%)
|
Commercial
|
27.1
|
|
|
35.7
|
|
|
(24
|
%)
|
|
4,175
|
|
|
5,148
|
|
|
(19
|
%)
|
||
Industrial
|
2.9
|
|
|
3.9
|
|
|
(26
|
%)
|
|
552
|
|
|
701
|
|
|
(21
|
%)
|
||
Retail subtotal
|
78.8
|
|
|
104.7
|
|
|
(25
|
%)
|
|
11,343
|
|
|
14,239
|
|
|
(20
|
%)
|
||
Transportation/other
|
5.4
|
|
|
6.5
|
|
|
(17
|
%)
|
|
9,418
|
|
|
10,017
|
|
|
(6
|
%)
|
||
Total revenues/sales
|
84.2
|
|
|
111.2
|
|
|
(24
|
%)
|
|
20,761
|
|
|
24,256
|
|
|
(14
|
%)
|
||
Cost of gas sold
|
52.4
|
|
|
71.0
|
|
|
(26
|
%)
|
|
|
|
|
|
|
|||||
Gas margins (a)
|
|
$31.8
|
|
|
|
$40.2
|
|
|
(21
|
%)
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2016
|
|
2015
|
|
Change
|
|
2016
|
|
2015
|
|
Change
|
||||||||
Residential
|
|
$39.3
|
|
|
|
$51.8
|
|
|
(24
|
%)
|
|
5,500
|
|
|
6,596
|
|
|
(17
|
%)
|
Commercial
|
22.8
|
|
|
29.6
|
|
|
(23
|
%)
|
|
3,909
|
|
|
4,420
|
|
|
(12
|
%)
|
||
Industrial
|
2.1
|
|
|
2.0
|
|
|
5
|
%
|
|
419
|
|
|
322
|
|
|
30
|
%
|
||
Retail subtotal
|
64.2
|
|
|
83.4
|
|
|
(23
|
%)
|
|
9,828
|
|
|
11,338
|
|
|
(13
|
%)
|
||
Transportation/other
|
3.8
|
|
|
3.8
|
|
|
—
|
%
|
|
12,817
|
|
|
12,570
|
|
|
2
|
%
|
||
Total revenues/sales
|
68.0
|
|
|
87.2
|
|
|
(22
|
%)
|
|
22,645
|
|
|
23,908
|
|
|
(5
|
%)
|
||
Cost of gas sold
|
42.8
|
|
|
59.8
|
|
|
(28
|
%)
|
|
|
|
|
|
|
|||||
Gas margins
|
|
$25.2
|
|
|
|
$27.4
|
|
|
(8
|
%)
|
|
|
|
|
|
|
(a)
|
Includes $3 million of credits on IPL’s Iowa retail gas customers’ bills for both the
first
quarters of
2016
and
2015
resulting from the gas tax benefit rider. The gas tax benefit rider results in reductions in gas revenues that are offset by reductions in income tax expense for the years ended December 31,
2016
and
2015
.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Estimated decrease from changes in sales caused by temperatures
|
|
($6
|
)
|
|
|
($3
|
)
|
|
|
($3
|
)
|
Lower revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (a)
|
(3
|
)
|
|
(3
|
)
|
|
—
|
|
|||
Other
|
(2
|
)
|
|
(2
|
)
|
|
1
|
|
|||
|
|
($11
|
)
|
|
|
($8
|
)
|
|
|
($2
|
)
|
(a)
|
Changes in energy efficiency revenues were mostly offset by changes in energy efficiency expense included in other operation and maintenance expenses.
|
|
2016
|
|
2015
|
|
Change
|
||||||
IPL
|
|
($2
|
)
|
|
|
$1
|
|
|
|
($3
|
)
|
WPL
|
(1
|
)
|
|
2
|
|
|
(3
|
)
|
|||
Total Alliant Energy
|
|
($3
|
)
|
|
|
$3
|
|
|
|
($6
|
)
|
|
36
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower energy efficiency cost recovery amortizations at WPL (a)
|
|
($4
|
)
|
|
|
$—
|
|
|
|
($4
|
)
|
Changes in energy efficiency expense at IPL (b)
|
(3
|
)
|
|
(3
|
)
|
|
—
|
|
|||
Other
|
4
|
|
|
2
|
|
|
2
|
|
|||
|
|
($3
|
)
|
|
|
($1
|
)
|
|
|
($2
|
)
|
(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 and 2016.
|
(b)
|
Changes in IPL’s energy efficiency expense were offset by changes in gas energy efficiency revenues.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower depreciation expense from the sale of IPL’s Minnesota distribution assets in 2015
|
|
($2
|
)
|
|
|
($2
|
)
|
|
|
$—
|
|
Other (includes the impact of property additions)
|
4
|
|
|
3
|
|
|
1
|
|
|||
|
|
$2
|
|
|
|
$1
|
|
|
|
$1
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Marshalltown at IPL
|
|
$6
|
|
|
|
$6
|
|
|
|
$—
|
|
Other
|
—
|
|
|
(1
|
)
|
|
1
|
|
|||
|
|
$6
|
|
|
|
$5
|
|
|
|
$1
|
|
|
37
|
|
|
Alliant Energy
(Consolidated)
|
|
IPL
|
|
WPL
|
|||||||||||||||
Common equity
|
|
$3,764.6
|
|
|
47
|
%
|
|
|
$2,042.9
|
|
|
50
|
%
|
|
|
$1,769.1
|
|
|
53
|
%
|
Preferred stock of IPL
|
200.0
|
|
|
2
|
%
|
|
200.0
|
|
|
5
|
%
|
|
—
|
|
|
—
|
%
|
|||
Noncontrolling interest
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
14.0
|
|
|
—
|
%
|
|||
Long-term debt (incl. current maturities)
|
3,836.1
|
|
|
48
|
%
|
|
1,857.4
|
|
|
45
|
%
|
|
1,534.2
|
|
|
46
|
%
|
|||
Short-term debt
|
213.4
|
|
|
3
|
%
|
|
—
|
|
|
—
|
%
|
|
25.5
|
|
|
1
|
%
|
|||
|
|
$8,014.1
|
|
|
100
|
%
|
|
|
$4,100.3
|
|
|
100
|
%
|
|
|
$3,342.8
|
|
|
100
|
%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Cash and cash equivalents, January 1
|
|
$5.8
|
|
|
|
$56.9
|
|
|
|
$4.5
|
|
|
|
$5.3
|
|
|
|
$0.4
|
|
|
|
$46.7
|
|
Cash flows from (used for):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating activities
|
228.3
|
|
|
314.7
|
|
|
116.4
|
|
|
170.1
|
|
|
123.6
|
|
|
157.8
|
|
||||||
Investing activities
|
(220.0
|
)
|
|
(250.9
|
)
|
|
(123.2
|
)
|
|
(156.3
|
)
|
|
(91.4
|
)
|
|
(78.4
|
)
|
||||||
Financing activities
|
(9.3
|
)
|
|
(23.1
|
)
|
|
5.3
|
|
|
(16.5
|
)
|
|
(31.3
|
)
|
|
(35.2
|
)
|
||||||
Net increase (decrease)
|
(1.0
|
)
|
|
40.7
|
|
|
(1.5
|
)
|
|
(2.7
|
)
|
|
0.9
|
|
|
44.2
|
|
||||||
Cash and cash equivalents, March 31
|
|
$4.8
|
|
|
|
$97.6
|
|
|
|
$3.0
|
|
|
|
$2.6
|
|
|
|
$1.3
|
|
|
|
$90.9
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Changes in levels of gas stored underground
|
|
($22
|
)
|
|
|
($11
|
)
|
|
|
($11
|
)
|
Changes in cash collateral balances
|
(19
|
)
|
|
—
|
|
|
(5
|
)
|
|||
Decreased collections from IPL’s and WPL’s retail customers caused by temperature impacts on electric and gas sales
|
(17
|
)
|
|
(9
|
)
|
|
(8
|
)
|
|||
Changes in levels of production fuel
|
(15
|
)
|
|
(17
|
)
|
|
2
|
|
|||
Changes in income taxes paid/refunded at IPL and WPL
|
—
|
|
|
(5
|
)
|
|
(17
|
)
|
|||
Other
|
(13
|
)
|
|
(12
|
)
|
|
5
|
|
|||
|
|
($86
|
)
|
|
|
($54
|
)
|
|
|
($34
|
)
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Proceeds from the liquidation of company-owned life insurance policies
|
|
$26
|
|
|
|
$18
|
|
|
|
$—
|
|
Lower (higher) utility construction expenditures
|
6
|
|
|
15
|
|
|
(10
|
)
|
|||
Other
|
(1
|
)
|
|
—
|
|
|
(3
|
)
|
|||
|
|
$31
|
|
|
|
$33
|
|
|
|
($13
|
)
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Net changes in the amount of commercial paper outstanding
|
|
$153
|
|
|
|
$—
|
|
|
|
$6
|
|
Lower net proceeds from common stock issuances
|
(116
|
)
|
|
—
|
|
|
—
|
|
|||
Capital contributions from IPL’s parent company, Alliant Energy, in 2016
|
—
|
|
|
40
|
|
|
—
|
|
|||
Other
|
(23
|
)
|
|
(18
|
)
|
|
(2
|
)
|
|||
|
|
$14
|
|
|
|
$22
|
|
|
|
$4
|
|
|
39
|
|
|
40
|
|
|
|
Total Number
|
|
Average Price
|
|
Total Number of Shares
|
|
Maximum Number (or Approximate
|
|||
|
|
of Shares
|
|
Paid Per
|
|
Purchased as Part of
|
|
Dollar Value) of Shares That May Yet
|
|||
Period
|
|
Purchased (a) (b)
|
|
Share (b)
|
|
Publicly Announced Plan
|
|
Be Purchased Under the Plan (a)
|
|||
January 1 through January 31
|
|
2,333
|
|
|
|
$62.66
|
|
|
—
|
|
N/A
|
February 1 through February 29
|
|
1,925
|
|
|
66.98
|
|
|
—
|
|
N/A
|
|
March 1 through March 31
|
|
397
|
|
|
71.00
|
|
|
—
|
|
N/A
|
|
|
|
4,655
|
|
|
65.16
|
|
|
—
|
|
|
(a)
|
All shares were purchased on the open market and held in a rabbi trust under the Alliant Energy Deferred Compensation Plan. There is no limit on the number of shares of Alliant Energy common stock that may be held under the Deferred Compensation Plan, which currently does not have an expiration date.
|
(b)
|
Share and per share amounts do not reflect the effects of a two-for-one common stock split approved by Alliant Energy’s Board of Directors on April 20, 2016. Refer to
Note 6
for additional details.
|
|
41
|
|
ALLIANT ENERGY CORPORATION
|
|
Registrant
|
|
|
|
By: /s/ Robert J. Durian
|
Vice President, Chief Accounting Officer and Controller
|
Robert J. Durian
|
(Principal Accounting Officer and Authorized Signatory)
|
INTERSTATE POWER AND LIGHT COMPANY
|
|
Registrant
|
|
|
|
By: /s/ Robert J. Durian
|
Vice President, Chief Accounting Officer and Controller
|
Robert J. Durian
|
(Principal Accounting Officer and Authorized Signatory)
|
WISCONSIN POWER AND LIGHT COMPANY
|
|
Registrant
|
|
|
|
By: /s/ Robert J. Durian
|
Vice President, Chief Accounting Officer and Controller
|
Robert J. Durian
|
(Principal Accounting Officer and Authorized Signatory)
|
|
42
|
|
Exhibit Number
|
|
Description
|
3.1
|
|
Articles of Amendment to Restated Articles of Incorporation, as amended, effective May 4, 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
|
31.1
|
|
Certification of the Chairman, President and CEO for Alliant Energy
|
31.2
|
|
Certification of the Senior Vice President and CFO for Alliant Energy
|
31.3
|
|
Certification of the Chairman and CEO for IPL
|
31.4
|
|
Certification of the Senior Vice President and CFO for IPL
|
31.5
|
|
Certification of the Chairman and CEO for WPL
|
31.6
|
|
Certification of the Senior Vice President 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
|
|
43
|
|
|
/s/ James. H Gallegos
|
|
James H. Gallegos
|
|
Senior Vice President, General Counsel &
|
|
Corporate Secretary
|
|
Three Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
March 31,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2016
|
|
2015
|
|
2015
|
2014
|
2013
|
2012
|
2011
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income from continuing operations attributable to Alliant Energy Corporation common shareowners
|
|
$97.6
|
|
|
|
$96.6
|
|
|
|
$380.7
|
|
|
$385.5
|
|
|
$364.2
|
|
|
$324.9
|
|
|
$323.1
|
|
Income taxes (a)
|
21.6
|
|
|
20.5
|
|
|
70.4
|
|
44.3
|
|
53.9
|
|
89.4
|
|
69.2
|
|
|||||||
Subtotal
|
119.2
|
|
|
117.1
|
|
|
451.1
|
|
429.8
|
|
418.1
|
|
414.3
|
|
392.3
|
|
|||||||
Fixed charges as defined
|
51.7
|
|
|
50.8
|
|
|
202.3
|
|
195.7
|
|
189.0
|
|
208.0
|
|
208.4
|
|
|||||||
Adjustment for undistributed equity earnings
|
(6.5
|
)
|
|
—
|
|
|
(3.2
|
)
|
(4.0
|
)
|
(8.3
|
)
|
(7.1
|
)
|
(7.0
|
)
|
|||||||
Less:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest capitalized
|
—
|
|
|
0.3
|
|
|
1.3
|
|
1.0
|
|
0.5
|
|
6.1
|
|
2.7
|
|
|||||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
3.2
|
|
|
3.1
|
|
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
22.0
|
|
|||||||
Total earnings as defined
|
|
$161.2
|
|
|
|
$164.5
|
|
|
|
$636.9
|
|
|
$609.2
|
|
|
$585.3
|
|
|
$589.0
|
|
|
$569.0
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$48.0
|
|
|
|
$46.6
|
|
|
|
$187.1
|
|
|
$180.6
|
|
|
$172.8
|
|
|
$156.7
|
|
|
$158.3
|
|
Interest capitalized
|
—
|
|
|
0.3
|
|
|
1.3
|
|
1.0
|
|
0.5
|
|
6.1
|
|
2.7
|
|
|||||||
Estimated interest component of rent expense
|
0.5
|
|
|
0.8
|
|
|
1.9
|
|
2.8
|
|
2.7
|
|
25.1
|
|
25.4
|
|
|||||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
3.2
|
|
|
3.1
|
|
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
22.0
|
|
|||||||
Total fixed charges as defined
|
|
$51.7
|
|
|
|
$50.8
|
|
|
|
$202.3
|
|
|
$195.7
|
|
|
$189.0
|
|
|
$208.0
|
|
|
$208.4
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges (c)
|
3.12
|
|
|
3.24
|
|
|
3.15
|
|
3.11
|
|
3.10
|
|
2.83
|
|
2.73
|
|
|
Three Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
March 31,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2016
|
|
2015
|
|
2015
|
2014
|
2013
|
2012
|
2011
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income
|
|
$48.2
|
|
|
|
$50.1
|
|
|
|
$196.2
|
|
|
$191.8
|
|
|
$188.3
|
|
|
$158.3
|
|
|
$139.3
|
|
Income tax benefit (a)
|
(0.8
|
)
|
|
(3.3
|
)
|
|
(22.7
|
)
|
(48.9
|
)
|
(36.3
|
)
|
(27.9
|
)
|
(3.6
|
)
|
|||||||
Income before income taxes
|
47.4
|
|
|
46.8
|
|
|
173.5
|
|
142.9
|
|
152.0
|
|
130.4
|
|
135.7
|
|
|||||||
Fixed charges as defined
|
25.0
|
|
|
24.6
|
|
|
97.2
|
|
91.0
|
|
82.3
|
|
79.3
|
|
79.6
|
|
|||||||
Total earnings as defined
|
|
$72.4
|
|
|
|
$71.4
|
|
|
|
$270.7
|
|
|
$233.9
|
|
|
$234.3
|
|
|
$209.7
|
|
|
$215.3
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$24.9
|
|
|
|
$24.1
|
|
|
|
$96.8
|
|
|
$89.9
|
|
|
$81.3
|
|
|
$78.5
|
|
|
$78.7
|
|
Estimated interest component of rent expense
|
0.1
|
|
|
0.5
|
|
|
0.4
|
|
1.1
|
|
1.0
|
|
0.8
|
|
0.9
|
|
|||||||
Total fixed charges as defined
|
|
$25.0
|
|
|
|
$24.6
|
|
|
|
$97.2
|
|
|
$91.0
|
|
|
$82.3
|
|
|
$79.3
|
|
|
$79.6
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges
|
2.90
|
|
|
2.90
|
|
|
2.78
|
|
2.57
|
|
2.85
|
|
2.64
|
|
2.70
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Preferred dividend requirements (pre-tax basis) (b)
|
|
$2.6
|
|
|
|
$2.4
|
|
|
|
$9.0
|
|
|
$7.6
|
|
|
$8.7
|
|
|
$10.4
|
|
|
$14.6
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Fixed charges and preferred dividend requirements
|
|
$27.6
|
|
|
|
$27.0
|
|
|
|
$106.2
|
|
|
$98.6
|
|
|
$91.0
|
|
|
$89.7
|
|
|
$94.2
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements
|
2.62
|
|
|
2.64
|
|
|
2.55
|
|
2.37
|
|
2.57
|
|
2.34
|
|
2.29
|
|
|
Three Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
March 31,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2016
|
|
2015
|
|
2015
|
2014
|
2013
|
2012
|
2011
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income
|
|
$47.0
|
|
|
|
$45.1
|
|
|
|
$177.6
|
|
|
$181.1
|
|
|
$179.1
|
|
|
$172.7
|
|
|
$163.5
|
|
Income taxes (a)
|
22.6
|
|
|
21.8
|
|
|
82.9
|
|
85.3
|
|
85.6
|
|
87.6
|
|
81.9
|
|
|||||||
Income before income taxes
|
69.6
|
|
|
66.9
|
|
|
260.5
|
|
266.4
|
|
264.7
|
|
260.3
|
|
245.4
|
|
|||||||
Fixed charges as defined
|
23.2
|
|
|
23.4
|
|
|
93.7
|
|
87.7
|
|
86.4
|
|
103.9
|
|
103.3
|
|
|||||||
Adjustment for undistributed equity earnings
|
(6.7
|
)
|
|
(1.3
|
)
|
|
(4.5
|
)
|
(6.4
|
)
|
(8.3
|
)
|
(7.9
|
)
|
(6.4
|
)
|
|||||||
Total earnings as defined
|
|
$86.1
|
|
|
|
$89.0
|
|
|
|
$349.7
|
|
|
$347.7
|
|
|
$342.8
|
|
|
$356.3
|
|
|
$342.3
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$22.9
|
|
|
|
$23.1
|
|
|
|
$92.4
|
|
|
$86.4
|
|
|
$85.0
|
|
|
$80.2
|
|
|
$79.9
|
|
Estimated interest component of rent expense
|
0.3
|
|
|
0.3
|
|
|
1.3
|
|
1.3
|
|
1.4
|
|
23.7
|
|
23.4
|
|
|||||||
Total fixed charges as defined
|
|
$23.2
|
|
|
|
$23.4
|
|
|
|
$93.7
|
|
|
$87.7
|
|
|
$86.4
|
|
|
$103.9
|
|
|
$103.3
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges
|
3.71
|
|
|
3.80
|
|
|
3.73
|
|
3.96
|
|
3.97
|
|
3.43
|
|
3.31
|
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman, President and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Thomas L. Hanson
|
Thomas L. Hanson
|
Senior Vice President and Chief Financial Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Thomas L. Hanson
|
Thomas L. Hanson
|
Senior Vice President and Chief Financial Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
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
|