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☒
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Commission
File Number
|
|
Name of Registrant, State of Incorporation,
Address of Principal Executive Offices and Telephone Number
|
|
IRS Employer
Identification Number
|
1-9894
|
|
ALLIANT ENERGY CORPORATION
|
|
39-1380265
|
|
|
(a Wisconsin corporation)
|
|
|
|
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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
|
|
INTERSTATE POWER AND LIGHT COMPANY
|
|
42-0331370
|
|
|
(an Iowa corporation)
|
|
|
|
|
Alliant Energy Tower
|
|
|
|
|
Cedar Rapids, Iowa 52401
|
|
|
|
|
Telephone (319) 786-4411
|
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|
|
|
||
0-337
|
|
WISCONSIN POWER AND LIGHT COMPANY
|
|
39-0714890
|
|
|
(a Wisconsin corporation)
|
|
|
|
|
4902 N. Biltmore Lane
|
|
|
|
|
Madison, Wisconsin 53718
|
|
|
|
|
Telephone (608) 458-3311
|
|
|
|
Title of Class
|
Name of Each Exchange on Which Registered
|
Alliant Energy Corporation
|
Common Stock, $0.01 Par Value
|
New York Stock Exchange
|
Alliant Energy Corporation
|
Common Share Purchase Rights
|
New York Stock Exchange
|
Interstate Power and Light Company
|
5.100% Series D Cumulative Perpetual Preferred Stock, $0.01 Par Value
|
New York Stock Exchange
|
|
Large Accelerated Filer
|
|
Accelerated Filer
|
|
Non-accelerated Filer
|
|
Smaller Reporting Company Filer
|
Alliant Energy Corporation
|
☒
|
|
|
|
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|
Interstate Power and Light Company
|
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|
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|
☒
|
|
|
Wisconsin Power and Light Company
|
|
|
|
|
☒
|
|
|
Alliant Energy Corporation
|
$9.0 billion
|
Interstate Power and Light Company
|
$—
|
Wisconsin Power and Light Company
|
$—
|
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|
Abbreviation or Acronym
|
Definition
|
Abbreviation or Acronym
|
Definition
|
2017 Alliant Energy Proxy Statement
|
Alliant Energy’s Proxy Statement for the 2017 Annual Meeting of Shareowners
|
HDD
|
Heating degree days
|
AEF
|
Alliant Energy Finance, LLC
|
IPL
|
Interstate Power and Light Company
|
AFUDC
|
Allowance for funds used during construction
|
IRS
|
Internal Revenue Service
|
Alliant Energy
|
Alliant Energy Corporation
|
ITC
|
ITC Midwest LLC
|
AOCL
|
Accumulated other comprehensive loss
|
IUB
|
Iowa Utilities Board
|
ARO
|
Asset retirement obligation
|
KWh
|
Kilowatt-hour
|
ATC
|
American Transmission Company LLC
|
Marshalltown
|
Marshalltown Generating Station
|
ATI
|
AE Transco Investments, LLC
|
MDA
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
CA
|
Certificate of authority
|
MGP
|
Manufactured gas plant
|
CAA
|
Clean Air Act
|
MISO
|
Midcontinent Independent System Operator, Inc.
|
CAIR
|
Clean Air Interstate Rule
|
MW
|
Megawatt
|
CCR
|
Coal combustion residuals
|
MWh
|
Megawatt-hour
|
CDD
|
Cooling degree days
|
N/A
|
Not applicable
|
CO2
|
Carbon dioxide
|
NAAQS
|
National Ambient Air Quality Standards
|
Corporate Services
|
Alliant Energy Corporate Services, Inc.
|
Note(s)
|
Combined Notes to Consolidated Financial Statements
|
CPCN
|
Certificate of Public Convenience and Necessity
|
NOx
|
Nitrogen oxide
|
CRANDIC
|
Cedar Rapids and Iowa City Railway Company
|
OIP
|
Alliant Energy 2010 Omnibus Incentive Plan
|
CSAPR
|
Cross-State Air Pollution Rule
|
OPEB
|
Other postretirement benefits
|
CWIP
|
Construction work in progress
|
PATH Act
|
Protecting Americans from Tax Hikes Act
|
DAEC
|
Duane Arnold Energy Center
|
PPA
|
Purchased power agreement
|
DATC
|
Duke-American Transmission Company, LLC
|
PSCW
|
Public Service Commission of Wisconsin
|
DCP
|
Alliant Energy Deferred Compensation Plan
|
Receivables Agreement
|
Receivables Purchase and Sale Agreement
|
DLIP
|
Alliant Energy Director Long Term Incentive Plan
|
RES
|
Renewable energy standards
|
Dth
|
Dekatherm
|
Riverside
|
Riverside Energy Center
|
EEP
|
Energy efficiency plan
|
RMT
|
RMT, Inc.
|
EGU
|
Electric generating unit
|
SCR
|
Selective catalytic reduction
|
EPA
|
U.S. Environmental Protection Agency
|
SEC
|
Securities and Exchange Commission
|
EPB
|
Emissions plan and budget
|
SO2
|
Sulfur dioxide
|
EPS
|
Earnings per weighted average common share
|
U.S.
|
United States of America
|
FERC
|
Federal Energy Regulatory Commission
|
VEBA
|
Voluntary Employees’ Beneficiary Association
|
Financial Statements
|
Consolidated Financial Statements
|
VIE
|
Variable interest entity
|
FTR
|
Financial transmission right
|
WACC
|
Weighted-average cost of capital
|
Fuel-related
|
Electric production fuel and purchased power
|
Whiting Petroleum
|
Whiting Petroleum Corporation
|
GAAP
|
U.S. generally accepted accounting principles
|
WPL
|
Wisconsin Power and Light Company
|
GHG
|
Greenhouse gases
|
WPL Transco
|
WPL Transco, LLC
|
•
|
federal and state regulatory or governmental actions, including the impact of energy, tax (including potential tax reform), 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, environmental compliance and remediation 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 pending retail electric base rate filing, which is currently expected to be filed in the second quarter of 2017;
|
•
|
weather effects on results of utility operations;
|
•
|
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 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;
|
•
|
the ability to qualify for the full level of production tax credits on planned and potential new wind farms and the impact of changes to production tax credits for wind farms;
|
•
|
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;
|
•
|
changes in the price of delivered natural gas, purchased electricity and coal due to shifts in supply and demand caused by market conditions and regulations;
|
•
|
impacts on equity income from unconsolidated investments due to further 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, the Clean Power Plan, future changes in environmental laws and regulations, including the EPA’s regulations for CO2 emissions reductions from new and existing fossil-fueled EGUs, and litigation associated with environmental requirements;
|
•
|
the ability to defend against environmental claims brought by state and federal agencies, such as the EPA, state natural resources agencies or third parties, such as the Sierra Club, and the impact on operating expenses of defending and resolving such claims;
|
•
|
impacts that storms or natural disasters in IPL’s and WPL’s service territories may have on their operations and recovery of 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 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 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;
|
•
|
current or future litigation, regulatory investigations, proceedings or inquiries;
|
•
|
reputational damage from negative publicity, protests, fines, penalties and other negative consequences resulting in regulatory and/or legal actions;
|
•
|
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, battery storage and other future technologies;
|
•
|
changes in technology that alter the channels through which electric customers buy or utilize electricity;
|
•
|
material changes in employee-related benefit and compensation costs;
|
•
|
the effect of accounting standards issued periodically by standard-setting bodies;
|
•
|
the impact of adjustments made to deferred tax assets and liabilities from state apportionment assumptions;
|
•
|
the ability to utilize tax credits and net operating losses generated to date, and those that may be generated in the future, before they expire;
|
•
|
impacts of the extension of bonus depreciation deductions;
|
•
|
the ability to successfully complete tax audits and changes in tax accounting methods with no material impact on earnings and cash flows; and
|
•
|
factors listed in
MDA
and
Item 1A Risk Factors
.
|
|
Total
|
|
Number of
|
|
Percentage of Employees
|
|
Number of
|
|
Bargaining Unit
|
|
Covered by Collective
|
|
Employees
|
|
Employees
|
|
Bargaining Agreements
|
Alliant Energy
|
3,978
|
|
2,244
|
|
56%
|
IPL
|
1,679
|
|
1,095
|
|
65%
|
WPL
|
1,286
|
|
1,044
|
|
81%
|
IPL
|
|
WPL
|
|
IPL
|
|
WPL
|
||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
||||||||||||
All fuels
|
|
$2.17
|
|
|
|
$2.21
|
|
|
|
$2.50
|
|
|
|
$2.61
|
|
|
|
$2.67
|
|
|
|
$2.82
|
|
Natural gas (a)
|
2.86
|
|
|
3.37
|
|
|
6.05
|
|
|
3.25
|
|
|
3.68
|
|
|
5.51
|
|
||||||
Coal
|
1.98
|
|
|
1.94
|
|
|
2.05
|
|
|
2.47
|
|
|
2.49
|
|
|
2.22
|
|
(a)
|
The average cost of natural gas includes commodity and transportation costs as well as realized gains and losses from swap and option contracts used to hedge the price of natural gas volumes expected to be used by IPL’s and WPL’s natural gas-fired EGUs.
|
Electric Operating Information - Alliant Energy
|
2016
|
|
2015
|
|
2014
|
||||||
Operating Revenues (in millions):
|
|
|
|
|
|
||||||
Residential (a)
|
|
$1,001.1
|
|
|
|
$983.0
|
|
|
|
$994.5
|
|
Commercial (a)
|
712.6
|
|
|
667.8
|
|
|
658.0
|
|
|||
Industrial (a)
|
787.1
|
|
|
763.4
|
|
|
735.1
|
|
|||
Industrial - co-generation
|
64.0
|
|
|
59.9
|
|
|
63.9
|
|
|||
Retail subtotal
|
2,564.8
|
|
|
2,474.1
|
|
|
2,451.5
|
|
|||
Sales for resale:
|
|
|
|
|
|
||||||
Wholesale (a)
|
256.6
|
|
|
221.0
|
|
|
206.6
|
|
|||
Bulk power and other
|
10.1
|
|
|
28.5
|
|
|
2.9
|
|
|||
Other
|
44.0
|
|
|
46.9
|
|
|
52.6
|
|
|||
Total
|
|
$2,875.5
|
|
|
|
$2,770.5
|
|
|
|
$2,713.6
|
|
Electric Sales (000s MWh):
|
|
|
|
|
|
||||||
Residential (a)
|
7,152
|
|
|
7,271
|
|
|
7,697
|
|
|||
Commercial (a)
|
6,545
|
|
|
6,374
|
|
|
6,449
|
|
|||
Industrial (a)
|
10,702
|
|
|
10,820
|
|
|
10,813
|
|
|||
Industrial - co-generation
|
940
|
|
|
915
|
|
|
1,008
|
|
|||
Retail subtotal
|
25,339
|
|
|
25,380
|
|
|
25,967
|
|
|||
Sales for resale:
|
|
|
|
|
|
||||||
Wholesale (a)
|
4,039
|
|
|
3,614
|
|
|
3,586
|
|
|||
Bulk power and other
|
360
|
|
|
1,228
|
|
|
335
|
|
|||
Other
|
100
|
|
|
129
|
|
|
155
|
|
|||
Total
|
29,838
|
|
|
30,351
|
|
|
30,043
|
|
|||
Customers (End of Period):
|
|
|
|
|
|
||||||
Residential (a)
|
811,459
|
|
|
809,634
|
|
|
850,322
|
|
|||
Commercial (a)
|
141,528
|
|
|
137,870
|
|
|
139,138
|
|
|||
Industrial (a)
|
2,546
|
|
|
2,544
|
|
|
2,871
|
|
|||
Other
|
2,785
|
|
|
2,930
|
|
|
3,662
|
|
|||
Total
|
958,318
|
|
|
952,978
|
|
|
995,993
|
|
|||
Other Selected Electric Data:
|
|
|
|
|
|
||||||
Maximum summer peak hour demand (MW)
|
5,615
|
|
|
5,385
|
|
|
5,426
|
|
|||
Maximum winter peak hour demand (MW)
|
4,559
|
|
|
4,668
|
|
|
4,803
|
|
|||
Cooling degree days (b):
|
|
|
|
|
|
||||||
Cedar Rapids, Iowa (IPL) (normal - 766)
|
971
|
|
|
732
|
|
|
670
|
|
|||
Madison, Wisconsin (WPL) (normal - 662)
|
780
|
|
|
665
|
|
|
620
|
|
|||
Sources of electric energy (000s MWh):
|
|
|
|
|
|
||||||
Gas
|
4,505
|
|
|
4,738
|
|
|
2,971
|
|
|||
Purchased power:
|
|
|
|
|
|
||||||
Nuclear
|
3,444
|
|
|
3,741
|
|
|
3,133
|
|
|||
Wind (c)
|
1,079
|
|
|
1,190
|
|
|
1,252
|
|
|||
Other (c)
|
8,912
|
|
|
6,675
|
|
|
8,074
|
|
|||
Wind (c)
|
1,382
|
|
|
1,441
|
|
|
1,390
|
|
|||
Coal
|
11,019
|
|
|
13,040
|
|
|
13,818
|
|
|||
Other (c)
|
228
|
|
|
189
|
|
|
212
|
|
|||
Total
|
30,569
|
|
|
31,014
|
|
|
30,850
|
|
|||
Revenue per KWh sold to retail customers (cents)
|
10.12
|
|
|
9.75
|
|
|
9.44
|
|
(a)
|
In 2015, Alliant Energy sold its electric distribution assets in Minnesota to Southern Minnesota Energy Cooperative. At the date of the sale, Alliant Energy had approximately 42,000 retail electric customers in Minnesota. Prior to the asset sale, the electric sales to these retail customers are included in residential, commercial and industrial retail sales. Subsequent to the asset sale, the related electric sales are included in wholesale electric sales pursuant to a wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative, which is discussed in
Note 3
.
|
(b)
|
Cooling degree days are calculated using a simple average of the high and low temperatures each day compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year average of historical cooling degree days. Refer to “
Gas Utility Operations
” below for details of heating degree days.
|
(c)
|
All or some of the renewable energy attributes associated with generation from these sources may be used in future years to comply with renewable energy standards or other regulatory requirements, or sold to third parties in the form of renewable energy credits or other environmental commodities.
|
Electric Operating Information
|
IPL
|
|
WPL
|
||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
||||||||||||
Operating Revenues (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Residential (a)
|
|
$536.7
|
|
|
|
$540.3
|
|
|
|
$556.4
|
|
|
|
$464.4
|
|
|
|
$442.7
|
|
|
|
$438.1
|
|
Commercial (a)
|
445.4
|
|
|
416.3
|
|
|
410.2
|
|
|
267.2
|
|
|
251.5
|
|
|
247.8
|
|
||||||
Industrial (a)
|
396.4
|
|
|
393.7
|
|
|
394.6
|
|
|
390.7
|
|
|
369.7
|
|
|
340.5
|
|
||||||
Industrial - co-generation
|
64.0
|
|
|
59.9
|
|
|
63.9
|
|
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
||||||
Retail subtotal
|
1,442.5
|
|
|
1,410.2
|
|
|
1,425.1
|
|
|
1,122.3
|
|
|
1,063.9
|
|
|
1,026.4
|
|
||||||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Wholesale (a)
|
94.2
|
|
|
56.4
|
|
|
32.2
|
|
|
162.4
|
|
|
164.6
|
|
|
174.4
|
|
||||||
Bulk power and other
|
3.6
|
|
|
5.1
|
|
|
2.1
|
|
|
6.5
|
|
|
23.4
|
|
|
0.8
|
|
||||||
Other
|
29.4
|
|
|
32.1
|
|
|
33.9
|
|
|
14.6
|
|
|
14.8
|
|
|
18.7
|
|
||||||
Total
|
|
$1,569.7
|
|
|
|
$1,503.8
|
|
|
|
$1,493.3
|
|
|
|
$1,305.8
|
|
|
|
$1,266.7
|
|
|
|
$1,220.3
|
|
Electric Sales (000s MWh):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Residential (a)
|
3,633
|
|
|
3,843
|
|
|
4,164
|
|
|
3,519
|
|
|
3,428
|
|
|
3,533
|
|
||||||
Commercial (a)
|
4,159
|
|
|
4,059
|
|
|
4,099
|
|
|
2,386
|
|
|
2,315
|
|
|
2,350
|
|
||||||
Industrial (a)
|
5,791
|
|
|
6,007
|
|
|
6,124
|
|
|
4,911
|
|
|
4,813
|
|
|
4,689
|
|
||||||
Industrial - co-generation
|
940
|
|
|
915
|
|
|
1,008
|
|
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
||||||
Retail subtotal
|
14,523
|
|
|
14,824
|
|
|
15,395
|
|
|
10,816
|
|
|
10,556
|
|
|
10,572
|
|
||||||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Wholesale (a)
|
1,360
|
|
|
845
|
|
|
485
|
|
|
2,679
|
|
|
2,769
|
|
|
3,101
|
|
||||||
Bulk power and other
|
46
|
|
|
178
|
|
|
59
|
|
|
314
|
|
|
1,050
|
|
|
276
|
|
||||||
Other
|
41
|
|
|
67
|
|
|
81
|
|
|
59
|
|
|
62
|
|
|
74
|
|
||||||
Total
|
15,970
|
|
|
15,914
|
|
|
16,020
|
|
|
13,868
|
|
|
14,437
|
|
|
14,023
|
|
||||||
Customers (End of Period):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Residential (a)
|
403,558
|
|
|
406,028
|
|
|
445,483
|
|
|
407,901
|
|
|
403,606
|
|
|
404,839
|
|
||||||
Commercial (a)
|
83,936
|
|
|
80,982
|
|
|
81,853
|
|
|
57,592
|
|
|
56,888
|
|
|
57,285
|
|
||||||
Industrial (a)
|
1,511
|
|
|
1,572
|
|
|
1,856
|
|
|
1,035
|
|
|
972
|
|
|
1,015
|
|
||||||
Other
|
862
|
|
|
1,050
|
|
|
1,385
|
|
|
1,923
|
|
|
1,880
|
|
|
2,277
|
|
||||||
Total
|
489,867
|
|
|
489,632
|
|
|
530,577
|
|
|
468,451
|
|
|
463,346
|
|
|
465,416
|
|
||||||
Other Selected Electric Data:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Maximum summer peak hour demand (MW)
|
2,996
|
|
|
3,005
|
|
|
2,840
|
|
|
2,681
|
|
|
2,564
|
|
|
2,594
|
|
||||||
Maximum winter peak hour demand (MW)
|
2,479
|
|
|
2,531
|
|
|
2,601
|
|
|
2,131
|
|
|
2,153
|
|
|
2,202
|
|
||||||
Cooling degree days (b):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cedar Rapids, Iowa (IPL) (normal - 766)
|
971
|
|
|
732
|
|
|
670
|
|
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
||||||
Madison, Wisconsin (WPL) (normal - 662)
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
|
780
|
|
|
665
|
|
|
620
|
|
||||||
Sources of electric energy (000s MWh):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Gas
|
1,838
|
|
|
1,874
|
|
|
1,069
|
|
|
2,667
|
|
|
2,864
|
|
|
1,902
|
|
||||||
Purchased power:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Nuclear
|
3,444
|
|
|
3,741
|
|
|
3,133
|
|
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
||||||
Wind (c)
|
635
|
|
|
757
|
|
|
798
|
|
|
444
|
|
|
433
|
|
|
454
|
|
||||||
Other (c)
|
4,267
|
|
|
3,015
|
|
|
3,802
|
|
|
4,645
|
|
|
3,660
|
|
|
4,272
|
|
||||||
Wind (c)
|
630
|
|
|
653
|
|
|
622
|
|
|
752
|
|
|
788
|
|
|
768
|
|
||||||
Coal
|
5,598
|
|
|
6,263
|
|
|
7,092
|
|
|
5,421
|
|
|
6,777
|
|
|
6,726
|
|
||||||
Other (c)
|
6
|
|
|
5
|
|
|
12
|
|
|
222
|
|
|
184
|
|
|
200
|
|
||||||
Total
|
16,418
|
|
|
16,308
|
|
|
16,528
|
|
|
14,151
|
|
|
14,706
|
|
|
14,322
|
|
||||||
Revenue per KWh sold to retail customers (cents)
|
9.93
|
|
|
9.51
|
|
|
9.26
|
|
|
10.38
|
|
|
10.08
|
|
|
9.71
|
|
(a)
|
In 2015, IPL sold its electric distribution assets in Minnesota to Southern Minnesota Energy Cooperative. At the date of the sale, IPL had approximately 42,000 retail electric customers in Minnesota. Prior to the asset sale, the electric sales to these retail customers are included in IPL’s residential, commercial and industrial retail sales. Subsequent to the asset sale, the related electric sales are included in IPL’s wholesale electric sales pursuant to a wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative, which is discussed in
Note 3
.
|
(b)
|
Cooling degree days are calculated using a simple average of the high and low temperatures each day compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year average of historical cooling degree days. Refer to “
Gas Utility Operations
” below for details of heating degree days.
|
(c)
|
All or some of the renewable energy attributes associated with generation from these sources may be used in future years to comply with renewable energy standards or other regulatory requirements, or sold to third parties in the form of renewable energy credits or other environmental commodities.
|
Gas Operating Information - Alliant Energy
|
2016
|
|
2015
|
|
2014
|
||||||
Operating Revenues (in millions):
|
|
|
|
|
|
||||||
Residential (a)
|
|
$197.6
|
|
|
|
$215.1
|
|
|
|
$287.5
|
|
Commercial (a)
|
109.6
|
|
|
120.5
|
|
|
172.8
|
|
|||
Industrial (a)
|
15.2
|
|
|
14.3
|
|
|
23.4
|
|
|||
Retail subtotal (a)
|
322.4
|
|
|
349.9
|
|
|
483.7
|
|
|||
Transportation/other
|
33.0
|
|
|
31.3
|
|
|
33.8
|
|
|||
Total
|
|
$355.4
|
|
|
|
$381.2
|
|
|
|
$517.5
|
|
Gas Sales (000s Dths):
|
|
|
|
|
|
||||||
Residential (a)
|
25,571
|
|
|
26,672
|
|
|
31,718
|
|
|||
Commercial (a)
|
18,820
|
|
|
18,966
|
|
|
23,301
|
|
|||
Industrial (a)
|
3,352
|
|
|
2,997
|
|
|
3,710
|
|
|||
Retail subtotal (a)
|
47,743
|
|
|
48,635
|
|
|
58,729
|
|
|||
Transportation/other
|
77,485
|
|
|
74,162
|
|
|
64,717
|
|
|||
Total
|
125,228
|
|
|
122,797
|
|
|
123,446
|
|
|||
Retail Customers at End of Period (a):
|
|
|
|
|
|
||||||
Residential
|
366,786
|
|
|
364,415
|
|
|
373,319
|
|
|||
Commercial
|
44,587
|
|
|
44,613
|
|
|
46,180
|
|
|||
Industrial
|
385
|
|
|
377
|
|
|
428
|
|
|||
Total
|
411,758
|
|
|
409,405
|
|
|
419,927
|
|
|||
Other Selected Gas Data:
|
|
|
|
|
|
||||||
Heating degree days (b):
|
|
|
|
|
|
||||||
Cedar Rapids, Iowa (IPL) (normal - 6,798)
|
5,933
|
|
|
6,300
|
|
|
7,657
|
|
|||
Madison, Wisconsin (WPL) (normal - 7,082)
|
6,420
|
|
|
6,667
|
|
|
7,884
|
|
|||
Revenue per Dth sold to retail customers
|
|
$6.75
|
|
|
|
$7.19
|
|
|
|
$8.24
|
|
Purchased gas costs per Dth sold to retail customers
|
|
$3.99
|
|
|
|
$4.40
|
|
|
|
$5.52
|
|
Gas Operating Information
|
IPL
|
|
WPL
|
||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
||||||||||||
Operating Revenues (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Residential (a)
|
|
$110.6
|
|
|
|
$120.0
|
|
|
|
$162.5
|
|
|
|
$87.0
|
|
|
|
$95.1
|
|
|
|
$125.0
|
|
Commercial (a)
|
61.9
|
|
|
67.9
|
|
|
96.1
|
|
|
47.7
|
|
|
52.6
|
|
|
76.7
|
|
||||||
Industrial (a)
|
10.6
|
|
|
10.5
|
|
|
17.4
|
|
|
4.6
|
|
|
3.8
|
|
|
6.0
|
|
||||||
Retail subtotal (a)
|
183.1
|
|
|
198.4
|
|
|
276.0
|
|
|
139.3
|
|
|
151.5
|
|
|
207.7
|
|
||||||
Transportation/other
|
20.9
|
|
|
18.9
|
|
|
20.5
|
|
|
12.1
|
|
|
12.4
|
|
|
13.3
|
|
||||||
Total
|
|
$204.0
|
|
|
|
$217.3
|
|
|
|
$296.5
|
|
|
|
$151.4
|
|
|
|
$163.9
|
|
|
|
$221.0
|
|
Gas Sales (000s Dths):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Residential (a)
|
13,788
|
|
|
14,472
|
|
|
17,839
|
|
|
11,783
|
|
|
12,200
|
|
|
13,879
|
|
||||||
Commercial (a)
|
10,143
|
|
|
10,166
|
|
|
12,641
|
|
|
8,677
|
|
|
8,800
|
|
|
10,660
|
|
||||||
Industrial (a)
|
2,299
|
|
|
2,239
|
|
|
2,804
|
|
|
1,053
|
|
|
758
|
|
|
906
|
|
||||||
Retail subtotal (a)
|
26,230
|
|
|
26,877
|
|
|
33,284
|
|
|
21,513
|
|
|
21,758
|
|
|
25,445
|
|
||||||
Transportation/other
|
37,158
|
|
|
34,129
|
|
|
31,377
|
|
|
40,327
|
|
|
40,033
|
|
|
33,340
|
|
||||||
Total
|
63,388
|
|
|
61,006
|
|
|
64,661
|
|
|
61,840
|
|
|
61,791
|
|
|
58,785
|
|
||||||
Retail Customers at End of Period (a):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Residential
|
199,326
|
|
|
199,408
|
|
|
208,240
|
|
|
167,460
|
|
|
165,007
|
|
|
165,079
|
|
||||||
Commercial
|
24,882
|
|
|
25,289
|
|
|
26,530
|
|
|
19,705
|
|
|
19,324
|
|
|
19,650
|
|
||||||
Industrial
|
212
|
|
|
217
|
|
|
244
|
|
|
173
|
|
|
160
|
|
|
184
|
|
||||||
Total
|
224,420
|
|
|
224,914
|
|
|
235,014
|
|
|
187,338
|
|
|
184,491
|
|
|
184,913
|
|
||||||
Other Selected Gas Data:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Maximum daily winter peak demand (Dth)
|
262,409
|
|
|
267,314
|
|
|
296,190
|
|
|
203,655
|
|
|
209,289
|
|
|
234,837
|
|
||||||
Heating degree days (b):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cedar Rapids, Iowa (IPL) (normal - 6,798)
|
5,933
|
|
|
6,300
|
|
|
7,657
|
|
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
||||||
Madison, Wisconsin (WPL) (normal - 7,082)
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
|
6,420
|
|
|
6,667
|
|
|
7,884
|
|
||||||
Revenue per Dth sold to retail customers
|
|
$6.98
|
|
|
|
$7.38
|
|
|
|
$8.29
|
|
|
|
$6.48
|
|
|
|
$6.96
|
|
|
|
$8.16
|
|
Purchased gas cost per Dth sold to retail customers
|
|
$4.21
|
|
|
|
$4.53
|
|
|
|
$5.54
|
|
|
|
$3.72
|
|
|
|
$4.25
|
|
|
|
$5.48
|
|
(a)
|
In April 2015, IPL sold its natural gas distribution assets in Minnesota. At the date of the sale, IPL had approximately 11,000 retail gas customers in Minnesota.
|
(b)
|
Heating degree days are calculated using a simple average of the high and low temperatures each day compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year average of historical heating degree days.
|
IPL
|
|
Expected
|
|
|
|
Primary
|
|
Nameplate
|
|
Generating
|
||
|
|
Retirement or
|
|
In-service
|
|
Dispatch
|
|
Capacity
|
|
Capacity
|
||
Name of EGU and Location
|
|
Fuel Switch (a)
|
|
Dates
|
|
Type (b)
|
|
in MW
|
|
in MW (c)
|
||
Emery Generating Station (Units 1-3); Mason City, IA
|
|
N/A
|
|
2004
|
|
IN
|
|
603
|
|
|
527
|
|
M.L. Kapp Generating Station (Unit 2); Clinton, IA
|
|
N/A
|
|
1967
|
|
IN
|
|
218
|
|
|
92
|
|
Sutherland Generating Station (Units 1,3); Marshalltown, IA
|
|
Retire by 6/30/17 (d)
|
|
1955-1961
|
|
IN
|
|
119
|
|
|
99
|
|
Fox Lake Generating Station (Units 1,3); Sherburn, MN
|
|
Retire by 12/31/17
|
|
1950-1962
|
|
IN
|
|
93
|
|
|
83
|
|
Burlington Combustion Turbines (Units 1-4); Burlington, IA
|
|
Retire by 12/31/17
|
|
1994-1996
|
|
PK
|
|
79
|
|
|
51
|
|
Dubuque Generating Station (Units 3-4); Dubuque, IA
|
|
Retire by 6/30/17 (d)
|
|
1952-1959
|
|
IN
|
|
66
|
|
|
59
|
|
Grinnell Combustion Turbines (Units 1-2); Grinnell, IA
|
|
Retire by 12/31/17
|
|
1990-1991
|
|
PK
|
|
48
|
|
|
36
|
|
Red Cedar Combustion Turbine (Unit 1); Cedar Rapids, IA
|
|
Retire by 12/31/18
|
|
1996
|
|
PK
|
|
23
|
|
|
11
|
|
Total Gas
|
|
|
|
|
|
|
|
1,249
|
|
|
958
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Ottumwa Generating Station (Unit 1); Ottumwa, IA (e)
|
|
N/A
|
|
1981
|
|
BL
|
|
348
|
|
|
326
|
|
Lansing Generating Station (Unit 4); Lansing, IA
|
|
N/A
|
|
1977
|
|
BL
|
|
275
|
|
|
235
|
|
Prairie Creek Generating Station (Units 1,3,4); Cedar Rapids, IA
|
|
Units 1 and 3 - fuel switch or retire by 12/31/25; Unit 4 - fuel switch by 12/31/17 (d)
|
|
1958-1997
|
|
BL
|
|
213
|
|
|
147
|
|
Burlington Generating Station (Unit 1); Burlington, IA
|
|
Fuel switch by 12/31/21 (d)
|
|
1968
|
|
BL
|
|
212
|
|
|
203
|
|
George Neal Generating Station (Unit 4); Sioux City, IA (f)
|
|
N/A
|
|
1979
|
|
BL
|
|
179
|
|
|
160
|
|
George Neal Generating Station (Unit 3); Sioux City, IA (g)
|
|
N/A
|
|
1975
|
|
BL
|
|
164
|
|
|
131
|
|
Louisa Generating Station (Unit 1); Louisa, IA (h)
|
|
N/A
|
|
1983
|
|
BL
|
|
32
|
|
|
29
|
|
Total Coal
|
|
|
|
|
|
|
|
1,423
|
|
|
1,231
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Marshalltown Combustion Turbines (Units 1-3); Marshalltown, IA
|
|
Fuel switch by 12/31/17
|
|
1978
|
|
PK
|
|
189
|
|
|
139
|
|
Lime Creek Combustion Turbines (Units 1-2); Mason City, IA
|
|
N/A
|
|
1991
|
|
PK
|
|
90
|
|
|
69
|
|
Centerville Combustion Turbines (Units 1-2); Centerville, IA
|
|
Retire by 12/31/17
|
|
1990
|
|
PK
|
|
54
|
|
|
47
|
|
Diesel Stations (5 Units); Iowa (i)
|
|
Retire by 12/31/17
|
|
1963-1966
|
|
PK
|
|
10
|
|
|
—
|
|
Total Oil
|
|
|
|
|
|
|
|
343
|
|
|
255
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Whispering Willow - East (121 Units); Franklin Co., IA
|
|
N/A
|
|
2009
|
|
IN
|
|
200
|
|
|
33
|
|
Total Wind
|
|
|
|
|
|
|
|
200
|
|
|
33
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Total capacity
|
|
|
|
|
|
|
|
3,215
|
|
|
2,477
|
|
WPL
|
|
|
|
|
|
Primary
|
|
Nameplate
|
|
Generating
|
||
|
|
|
|
In-service
|
|
Dispatch
|
|
Capacity
|
|
Capacity
|
||
Name of EGU and Location
|
|
Expected Retirement (a)
|
|
Dates
|
|
Type (b)
|
|
in MW
|
|
in MW (c)
|
||
Riverside Energy Center (Units 1-3); Beloit, WI
|
|
N/A
|
|
2004
|
|
IN
|
|
675
|
|
|
539
|
|
Neenah Energy Facility (Units 1-2); Neenah, WI
|
|
N/A
|
|
2000
|
|
PK
|
|
371
|
|
|
283
|
|
South Fond du Lac Combustion Turbines (2 Units); Fond du Lac, WI (j)
|
|
N/A
|
|
1994
|
|
PK
|
|
191
|
|
|
146
|
|
Rock River Combustion Turbines (Units 3-6); Beloit, WI
|
|
Retire by 12/31/20
|
|
1967-1972
|
|
PK
|
|
169
|
|
|
122
|
|
Sheepskin Combustion Turbine (Unit 1); Edgerton, WI
|
|
Retire by 12/31/20
|
|
1971
|
|
PK
|
|
42
|
|
|
35
|
|
Total Gas
|
|
|
|
|
|
|
|
1,448
|
|
|
1,125
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Columbia Energy Center (Units 1-2); Portage, WI (k)
|
|
N/A
|
|
1975-1978
|
|
BL
|
|
514
|
|
|
495
|
|
Edgewater Generating Station (Unit 5); Sheboygan, WI
|
|
N/A
|
|
1985
|
|
BL
|
|
414
|
|
|
399
|
|
Edgewater Generating Station (Unit 4); Sheboygan, WI (l)
|
|
Retire by 12/31/18 (d)
|
|
1969
|
|
BL
|
|
239
|
|
|
191
|
|
Total Coal
|
|
|
|
|
|
|
|
1,167
|
|
|
1,085
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Bent Tree (122 Units); Freeborn Co., MN
|
|
N/A
|
|
2010-2011
|
|
IN
|
|
201
|
|
|
32
|
|
Cedar Ridge (41 Units); Fond du Lac Co., WI
|
|
N/A
|
|
2008
|
|
IN
|
|
68
|
|
|
9
|
|
Total Wind
|
|
|
|
|
|
|
|
269
|
|
|
41
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Prairie du Sac Hydro Plant (8 Units); Prairie due Sac, WI
|
|
N/A
|
|
1914-1940
|
|
IN
|
|
32
|
|
|
12
|
|
Kilbourn Hydro Plant (4 Units); Wisconsin Dells, WI
|
|
N/A
|
|
1926-1939
|
|
IN
|
|
10
|
|
|
6
|
|
Total Hydro
|
|
|
|
|
|
|
|
42
|
|
|
18
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Total capacity
|
|
|
|
|
|
|
|
2,926
|
|
|
2,269
|
|
(a)
|
Expected dates for the retirement and fuel switching of these EGUs are subject to change depending on operational, regulatory, market and other factors. The potential retirement of other EGUs within the generation fleet continues to be evaluated. IPL and WPL are working with MISO, state regulatory commissions and other regulatory agencies, as required, to determine the final timing of certain of these actions. Final MISO studies could indicate that the retirement of an individual EGU may result in reliability issues and that transmission network upgrades for system reliability are necessary to enable such retirement. Under the current MISO tariff, the specific timing for the retirement of these EGUs could depend on the timing of the required transmission network upgrades as well as various operational, market and other factors.
|
(b)
|
Base load EGUs (BL) are designed for nearly continuous operation at or near full capacity to provide the system base load. Intermediate EGUs (IN) follow system load changes with frequent starts and curtailments of output during low demand. Peak load EGUs (PK) are generally low efficiency, quick response units that run primarily when there is high demand.
|
(c)
|
Based on the accredited generating capacity of the EGUs included in MISO’s resource adequacy process for the planning period from
June 2016 through May 2017
.
|
(d)
|
Actions and plans for retirement or fuel switch meet requirements specified in IPL’s and WPL’s respective Consent Decree, which are discussed in
Note 16(e)
.
|
(e)
|
Represents IPL’s 48% ownership interest in this 726 MW (nameplate capacity) / 680 MW (generating capacity) EGU, which is operated by IPL.
|
(f)
|
Represents IPL’s 25.695% ownership interest in this 696 MW (nameplate capacity) / 622 MW (generating capacity) EGU, which is operated by MidAmerican Energy Company.
|
(g)
|
Represents IPL’s 28% ownership interest in this 584 MW (nameplate capacity) / 466 MW (generating capacity) EGU, which is operated by MidAmerican Energy Company.
|
(h)
|
Represents IPL’s 4% ownership interest in this 812 MW (nameplate capacity) / 725 MW (generating capacity) EGU, which is operated by MidAmerican Energy Company.
|
(i)
|
These EGUs did not receive any accredited generating capacity for the planning period from
June 2016 through May 2017
.
|
(j)
|
Represents Units 2 and 3, which WPL owns. WPL also operates, but does not own, South Fond du Lac Combustion Turbines Units 1 and 4.
|
(k)
|
Represents WPL’s 46.2% ownership interest in this 1,112 MW (nameplate capacity) / 1,072 MW (generating capacity) EGU, which is operated by WPL.
|
(l)
|
Represents WPL’s 68.2% ownership interest in this 351 MW (nameplate capacity) / 280 MW (generating capacity) EGU, which is operated by WPL.
|
Patricia L. Kampling
|
57
|
Ms. Kampling has served as a director since January 2012, and as Chairman of the Board, President and Chief Executive Officer (CEO) since April 2012. She previously served as President and Chief Operating Officer since February 2011.
|
James H. Gallegos
|
56
|
Mr. Gallegos has served as Senior Vice President (VP), General Counsel and Corporate Secretary since February 2015. He previously served as Senior VP and General Counsel since February 2014 and as VP and General Counsel from November 2010 to February 2014.
|
Douglas R. Kopp
|
63
|
Mr. Kopp has served as Senior VP since March 2014. He previously served as VP-Environmental Affairs since January 2013 and as Director-Environmental Affairs from January 2011 to January 2013.
|
John O. Larsen
|
53
|
Mr. Larsen has served as Senior VP since February 2014. He previously served as Senior VP-Generation since January 2010.
|
Wayne A. Reschke
|
61
|
Mr. Reschke has served as Senior VP since February 2016. He previously served as VP since February 2014 and as VP-Human Resources from September 2009 to February 2014.
|
Robert J. Durian
|
46
|
Mr. Durian has served as VP, Chief Financial Officer (CFO) and Treasurer since December 2016. He previously served as VP, Chief Accounting Officer (CAO) and Treasurer since July 2016; VP, CAO and Controller from July 2015 to July 2016; and as Controller and CAO from February 2011 to July 2015.
|
Benjamin M. Bilitz
|
42
|
Mr. Bilitz has served as CAO and Controller since December 2016. He previously served as Controller since July 2016 and as Assistant Controller from March 2011 to July 2016.
|
Patricia L. Kampling
|
57
|
Ms. Kampling has served as a director since January 2012, and as Chairman of the Board and CEO since April 2012.
|
Douglas R. Kopp
|
63
|
Mr. Kopp has served as President since April 2014.
|
James H. Gallegos
|
56
|
Mr. Gallegos has served as Senior VP, General Counsel and Corporate Secretary since February 2015.
|
John O. Larsen
|
53
|
Mr. Larsen has served as Senior VP since February 2014.
|
Wayne A. Reschke
|
61
|
Mr. Reschke has served as Senior VP since February 2016.
|
Robert J. Durian
|
46
|
Mr. Durian has served as VP, CFO and Treasurer since December 2016.
|
Benjamin M. Bilitz
|
42
|
Mr. Bilitz has served as CAO and Controller since December 2016.
|
Patricia L. Kampling
|
57
|
Ms. Kampling has served as a director since January 2012, and as Chairman of the Board and CEO since April 2012.
|
John O. Larsen
|
53
|
Mr. Larsen has served as President since December 2010.
|
James H. Gallegos
|
56
|
Mr. Gallegos has served as Senior VP, General Counsel and Corporate Secretary since February 2015.
|
Douglas R. Kopp
|
63
|
Mr. Kopp has served as Senior VP since March 2014.
|
Wayne A. Reschke
|
61
|
Mr. Reschke has served as Senior VP since February 2016.
|
Robert J. Durian
|
46
|
Mr. Durian has served as VP, CFO and Treasurer since December 2016.
|
Benjamin M. Bilitz
|
42
|
Mr. Bilitz has served as CAO and Controller since December 2016.
|
|
|
Total Number
|
|
Average Price
|
|
Total Number of Shares
|
|
Maximum Number (or Approximate
|
|||
|
|
of Shares
|
|
Paid Per
|
|
Purchased as Part of
|
|
Dollar Value) of Shares That May
|
|||
Period
|
|
Purchased (a)
|
|
Share
|
|
Publicly Announced Plan
|
|
Yet Be Purchased Under the Plan (a)
|
|||
October 1 to October 31
|
|
3,919
|
|
|
|
$37.22
|
|
|
—
|
|
N/A
|
November 1 to November 30
|
|
3,684
|
|
|
35.76
|
|
|
—
|
|
N/A
|
|
December 1 to December 31
|
|
144
|
|
|
37.14
|
|
|
—
|
|
N/A
|
|
|
|
7,747
|
|
|
36.52
|
|
|
—
|
|
|
(a)
|
All shares were purchased on the open market and held in a rabbi trust under the DCP. There is no limit on the number of shares of Alliant Energy common stock that may be held under the DCP, which currently does not have an expiration date.
|
Alliant Energy
|
2016 (a)
|
|
2015 (a)
|
|
2014 (a)
|
|
2013
|
|
2012
|
||||||||||
|
(dollars in millions, except per share data)
|
||||||||||||||||||
Income Statement Data:
|
|
||||||||||||||||||
Operating revenues
|
|
$3,320.0
|
|
|
|
$3,253.6
|
|
|
|
$3,350.3
|
|
|
|
$3,276.8
|
|
|
|
$3,094.5
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations, net of tax
|
373.8
|
|
|
380.7
|
|
|
385.5
|
|
|
364.2
|
|
|
324.9
|
|
|||||
Loss from discontinued operations, net of tax
|
(2.3
|
)
|
|
(2.5
|
)
|
|
(2.4
|
)
|
|
(5.9
|
)
|
|
(5.1
|
)
|
|||||
Net income
|
371.5
|
|
|
378.2
|
|
|
383.1
|
|
|
358.3
|
|
|
319.8
|
|
|||||
Common Stock Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted) (b):
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations, net of tax
|
|
$1.65
|
|
|
|
$1.69
|
|
|
|
$1.74
|
|
|
|
$1.64
|
|
|
|
$1.47
|
|
Loss from discontinued operations, net of tax
|
|
($0.01
|
)
|
|
|
($0.01
|
)
|
|
|
($0.01
|
)
|
|
|
($0.02
|
)
|
|
|
($0.03
|
)
|
Net income
|
|
$1.64
|
|
|
|
$1.68
|
|
|
|
$1.73
|
|
|
|
$1.62
|
|
|
|
$1.44
|
|
Common shares outstanding at year-end (000s) (b)
|
227,674
|
|
|
226,918
|
|
|
221,871
|
|
|
221,887
|
|
|
221,975
|
|
|||||
Dividends declared per common share (b)
|
|
$1.175
|
|
|
|
$1.10
|
|
|
|
$1.02
|
|
|
|
$0.94
|
|
|
|
$0.90
|
|
Market value per share at year-end (b)
|
|
$37.89
|
|
|
|
$31.225
|
|
|
|
$33.21
|
|
|
|
$25.80
|
|
|
|
$21.955
|
|
Book value per share at year-end (b)
|
|
$16.96
|
|
|
|
$16.41
|
|
|
|
$15.50
|
|
|
|
$14.79
|
|
|
|
$14.12
|
|
Market capitalization at year-end
|
|
$8,626.6
|
|
|
|
$7,085.5
|
|
|
|
$7,368.3
|
|
|
|
$5,724.7
|
|
|
|
$4,873.5
|
|
Other Selected Financial Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash flows from operating activities
|
|
$859.6
|
|
|
|
$871.2
|
|
|
|
$891.6
|
|
|
|
$731.0
|
|
|
|
$841.1
|
|
Construction and acquisition expenditures
|
|
$1,196.8
|
|
|
|
$1,034.3
|
|
|
|
$902.8
|
|
|
|
$798.3
|
|
|
|
$1,158.1
|
|
Total assets at year-end
|
|
$13,373.8
|
|
|
|
$12,495.2
|
|
|
|
$12,063.5
|
|
|
|
$11,092.5
|
|
|
|
$10,766.0
|
|
Long-term obligations, net
|
|
$4,325.1
|
|
|
|
$3,837.0
|
|
|
|
$3,768.7
|
|
|
|
$3,318.2
|
|
|
|
$3,122.0
|
|
IPL
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating revenues
|
|
$1,820.4
|
|
|
|
$1,774.5
|
|
|
|
$1,848.1
|
|
|
|
$1,818.8
|
|
|
|
$1,650.3
|
|
Earnings available for common stock
|
215.6
|
|
|
186.0
|
|
|
181.6
|
|
|
172.0
|
|
|
145.7
|
|
|||||
Cash dividends declared on common stock
|
151.9
|
|
|
140.0
|
|
|
140.0
|
|
|
128.1
|
|
|
122.9
|
|
|||||
Cash flows from operating activities
|
361.9
|
|
|
385.0
|
|
|
406.1
|
|
|
232.6
|
|
|
291.0
|
|
|||||
Total assets
|
7,304.7
|
|
|
6,709.1
|
|
|
6,450.2
|
|
|
5,793.9
|
|
|
5,446.8
|
|
|||||
Long-term obligations, net
|
2,154.0
|
|
|
1,857.4
|
|
|
1,758.6
|
|
|
1,549.5
|
|
|
1,353.7
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
WPL
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating revenues
|
|
$1,459.1
|
|
|
|
$1,435.1
|
|
|
|
$1,449.1
|
|
|
|
$1,406.3
|
|
|
|
$1,392.0
|
|
Earnings available for common stock
|
190.4
|
|
|
176.3
|
|
|
180.4
|
|
|
177.5
|
|
|
169.4
|
|
|||||
Cash dividends declared on common stock
|
135.0
|
|
|
126.9
|
|
|
118.7
|
|
|
116.3
|
|
|
112.0
|
|
|||||
Cash flows from operating activities
|
521.4
|
|
|
449.8
|
|
|
424.4
|
|
|
423.3
|
|
|
427.4
|
|
|||||
Total assets
|
5,290.3
|
|
|
5,270.4
|
|
|
5,117.6
|
|
|
4,796.2
|
|
|
4,754.4
|
|
|||||
Long-term obligations, net
|
1,623.2
|
|
|
1,624.2
|
|
|
1,658.3
|
|
|
1,423.2
|
|
|
1,426.3
|
|
(a)
|
Refer to “
Results of Operations
” in MDA for discussion of the
2016
,
2015
and
2014
results of operations.
|
(b)
|
Amounts reflect the effects of a two-for-one common stock split distributed in May 2016. Refer to
Note 7
for additional details.
|
(a)
|
At
December 31, 2016
, ATI, a wholly-owned subsidiary of AEF, holds all of Alliant Energy’s investment in ATC, a transmission-only utility operating primarily in the Midwest.
|
|
2016
|
|
2015
|
||||||||||||
|
Income (Loss)
|
|
EPS (a)
|
|
Income (Loss)
|
|
EPS (a)
|
||||||||
Continuing operations:
|
|
|
|
|
|
|
|
||||||||
Utilities, ATC and Corporate Services
|
|
$420.4
|
|
|
|
$1.85
|
|
|
|
$374.5
|
|
|
|
$1.66
|
|
Non-regulated and Parent
|
(46.6
|
)
|
|
(0.20
|
)
|
|
6.2
|
|
|
0.03
|
|
||||
Income from continuing operations
|
373.8
|
|
|
1.65
|
|
|
380.7
|
|
|
1.69
|
|
||||
Loss from discontinued operations
|
(2.3
|
)
|
|
(0.01
|
)
|
|
(2.5
|
)
|
|
(0.01
|
)
|
||||
Net income
|
|
$371.5
|
|
|
|
$1.64
|
|
|
|
$378.2
|
|
|
|
$1.68
|
|
•
|
IPL’s Expansion of Wind Generation -
In October 2016, IPL and the Iowa Office of Consumer Advocate, among other customer groups, filed a settlement agreement with the IUB regarding the appropriate rate-making principles for up to 500 MW of additional wind generation at IPL. In October 2016, the IUB issued an order approving the settlement agreement, with limited modifications, and establishing rate-making principles, which IPL accepted, with key terms as follows. Refer to “
Strategic Overview
” for further discussion.
|
▪
|
Up to 500 MW of additional wind generation that qualifies for the full level of production tax credits, regardless of the location in Iowa, with a cost cap of $1,830/kilowatt, including AFUDC and transmission costs. Any costs incurred in excess of this $1,830/kilowatt cost cap are expected to be incorporated into rates if determined to be reasonable and prudent.
|
▪
|
A depreciable life of the wind generation of 40 years, unless changed as a result of a contested case before the IUB.
|
▪
|
An 11.0% return on common equity, with the exception of certain transmission facilities classified as intangible assets, which would earn the rate of return on common equity the IUB finds reasonable during a future rate case.
|
•
|
Franklin County Wind Farm -
In addition to IPL’s expansion of wind generation discussed above, in February 2017, FERC issued an order approving the transfer of the 99 MW Franklin County wind farm from AEF to IPL. Alliant Energy and IPL currently expect to complete this transfer in 2017.
|
•
|
IPL’s and WPL’s Potential Expansion of Wind Generation -
In addition to IPL’s 500 MW expansion of wind generation and transfer of the 99 MW Franklin County wind farm to IPL in 2017 discussed above, IPL and WPL are each exploring options to own and operate up to 200 MW of additional new wind generation.
|
•
|
WPL’s Construction of the Riverside Expansion
- In May 2016, WPL received an order from the PSCW authorizing WPL to construct an approximate 730 MW natural gas-fired combined-cycle EGU in Beloit, Wisconsin, referred to as the Riverside expansion. After receiving the final necessary regulatory approvals and permits in the third quarter of 2016, WPL began constructing the Riverside expansion. WPL currently expects to place the Riverside expansion in service by early 2020. In November 2016, various electric cooperatives notified WPL of their intent to exercise their options to acquire approximately 65 MW of the Riverside expansion while the EGU is being constructed. As a result of the various electric cooperatives funding a portion of the capital expenditures during construction, WPL’s estimated portion of capital expenditures is expected to be approximately $640 million.
|
•
|
WPL’s Wisconsin Retail Electric and Gas Rate Case (2017/2018 Test Period) -
In December 2016,
WPL received an order from the PSCW authorizing WPL to implement an increase in annual retail electric rates of $9 million, or approximately 1%, and an increase in annual retail gas rates of $9 million, or approximately 13%. These increases are effective January 1, 2017 and extend through the end of 2018. The order included a return on common equity of 10.0% and continues a regulatory return on common equity sharing mechanism, whereby WPL must defer a portion of its earnings if its annual regulatory return on common equity exceeds 10.25% during the 2017 and 2018 Test Period. WPL must defer 50% of its excess earnings between 10.25% and 11.00%, and 100% of any excess earnings above 11.00%.
|
•
|
MISO Transmission Owner Return on Equity Complaints -
A group of MISO cooperative and municipal utilities previously filed two complaints with FERC requesting a reduction to the base return on equity used by MISO transmission owners, including ITC and ATC. In September 2016, FERC issued an order on the first complaint and established a base return on equity of 10.32%, excluding any incentive adders granted by FERC, effective September 28, 2016, and for the refund period from November 12, 2013 through February 11, 2015. In October 2016, in response to MISO’s and the MISO transmission owners’ request, FERC ordered the related refunds to be issued no later than July 2017. In June 2016, a FERC administrative law judge issued an initial decision regarding the second complaint and recommended a base return on equity of 9.70%, excluding any incentive adders granted by FERC, for the refund period from February 12, 2015 through May 11, 2016. A final decision from FERC on the second complaint is currently expected in the first half of 2017. As a result of the two MISO complaints, Alliant Energy and WPL have realized a cumulative $24 million of reductions in the amounts of equity income from ATC through December 31, 2016, including $9 million realized in 2016.
|
•
|
Transfer of ATC Investment -
In June 2016, WPL received an order from the PSCW requiring WPL to transfer its investment in ATC to Alliant Energy or an Alliant Energy subsidiary by December 31, 2022. On December 31, 2016, pursuant to the PSCW order, the investment in ATC was transferred to ATI. Refer to
Note 6(a)
for further discussion.
|
•
|
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 authorized 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 received 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 did not change as a result of the stock split. The additional shares were distributed on May 19, 2016 and post-split trading began on May 20, 2016. All Alliant Energy share and per share amounts in this report have been reflected on a post-split basis.
|
•
|
Planned Utility Rate Case -
IPL currently expects to make a retail electric rate filing in the second quarter of 2017 based on a 2016 historical Test Year. Refer to “
Rate Matters
” for further discussion.
|
•
|
Financing Plans -
Alliant Energy currently expects to issue up to $150 million of common stock in 2017 through one or more offerings and its Shareowner Direct Plan. Both IPL and WPL currently expect to receive capital contributions of approximately $150 million from their parent company, Alliant Energy, in 2017. IPL and WPL currently expect to issue up to $250 million and $300 million, respectively, of long-term debt securities in 2017.
|
•
|
Common Stock Dividends -
Alliant Energy announced an increase in its targeted 2017 annual common stock dividend to $1.26 per share, which is equivalent to a quarterly rate of $0.315 per share, beginning with the February 2017 dividend payment. The timing and amount of future dividends is subject to an approved dividend declaration from Alliant Energy’s Board of Directors, and is dependent upon earnings expectations, capital requirements, and general financial business conditions, among other factors. In addition, IPL and WPL currently expect to pay common stock dividends of approximately $156 million and $126 million, respectively, to their parent company in 2017.
|
•
|
Utility Electric Margins -
Alliant Energy, IPL and WPL currently expect an increase in electric margins in 2017 compared to 2016 as a result of base rate increases in effect from WPL’s recent retail electric rate case and IPL’s planned retail electric rate case. Refer to “
Rate Matters
” for further discussion of these rate cases.
|
•
|
Other Operation and Maintenance Expenses
- Alliant Energy currently expects its other operation and maintenance expenses to increase in 2017 compared to 2016 primarily due to IPL’s Marshalltown facility, which is expected to be placed in service in April 2017, as well as higher energy delivery infrastructure maintenance expenditures. Also contributing to the increase are energy efficiency regulatory amortizations at WPL, which will be offset by increases in WPL’s base rates as discussed in “
Rate Matters
.”
|
•
|
Depreciation and Amortization Expenses
- Alliant Energy currently expects its depreciation and amortization expenses to increase in 2017 compared to 2016 due to property additions, including various environmental controls projects at IPL and WPL placed in service in 2016 and IPL’s Marshalltown facility, which is expected to be placed in service in April 2017. Refer to “
Rate Matters
” for discussion of updated depreciation rates for WPL effective January 1, 2017 as a result of a recently completed depreciation study.
|
•
|
Interest Expense
- Alliant Energy currently expects its interest expense to increase in 2017 compared to 2016 due to financings completed in 2016 and planned in 2017 as discussed above.
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
|||||||||||||||||||||||||
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|||||||||
Residential (c)
|
|
$1,001.1
|
|
|
|
$983.0
|
|
|
2%
|
|
|
$994.5
|
|
|
(1%)
|
|
7,152
|
|
|
7,271
|
|
|
(2%)
|
|
7,697
|
|
|
(6%)
|
Commercial (c)
|
712.6
|
|
|
667.8
|
|
|
7%
|
|
658.0
|
|
|
1%
|
|
6,545
|
|
|
6,374
|
|
|
3%
|
|
6,449
|
|
|
(1%)
|
|||
Industrial (c)
|
787.1
|
|
|
763.4
|
|
|
3%
|
|
735.1
|
|
|
4%
|
|
10,702
|
|
|
10,820
|
|
|
(1%)
|
|
10,813
|
|
|
—%
|
|||
Industrial - co-generation
|
64.0
|
|
|
59.9
|
|
|
7%
|
|
63.9
|
|
|
(6%)
|
|
940
|
|
|
915
|
|
|
3%
|
|
1,008
|
|
|
(9%)
|
|||
Retail subtotal (c)
|
2,564.8
|
|
|
2,474.1
|
|
|
4%
|
|
2,451.5
|
|
|
1%
|
|
25,339
|
|
|
25,380
|
|
|
—%
|
|
25,967
|
|
|
(2%)
|
|||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Wholesale (c)
|
256.6
|
|
|
221.0
|
|
|
16%
|
|
206.6
|
|
|
7%
|
|
4,039
|
|
|
3,614
|
|
|
12%
|
|
3,586
|
|
|
1%
|
|||
Bulk power and other
|
10.1
|
|
|
28.5
|
|
|
(65%)
|
|
2.9
|
|
|
883%
|
|
360
|
|
|
1,228
|
|
|
(71%)
|
|
335
|
|
|
267%
|
|||
Other
|
44.0
|
|
|
46.9
|
|
|
(6%)
|
|
52.6
|
|
|
(11%)
|
|
100
|
|
|
129
|
|
|
(22%)
|
|
155
|
|
|
(17%)
|
|||
Total revenues/sales
|
2,875.5
|
|
|
2,770.5
|
|
|
4%
|
|
2,713.6
|
|
|
2%
|
|
29,838
|
|
|
30,351
|
|
|
(2%)
|
|
30,043
|
|
|
1%
|
|||
Electric production fuel expense
|
408.1
|
|
|
463.6
|
|
|
(12%)
|
|
443.9
|
|
|
4%
|
|
|
|
|
|
|
|
|
|
|
||||||
Purchased power expense
|
445.9
|
|
|
374.1
|
|
|
19%
|
|
433.3
|
|
|
(14%)
|
|
|
|
|
|
|
|
|
|
|
||||||
Electric transmission service expense
|
527.9
|
|
|
485.3
|
|
|
9%
|
|
447.5
|
|
|
8%
|
|
|
|
|
|
|
|
|
|
|
||||||
Electric margins (d)
|
|
$1,493.6
|
|
|
|
$1,447.5
|
|
|
3%
|
|
|
$1,388.9
|
|
|
4%
|
|
|
|
|
|
|
|
|
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
|||||||||||||||||||||||||
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|||||||||
Residential (c)
|
|
$536.7
|
|
|
|
$540.3
|
|
|
(1%)
|
|
|
$556.4
|
|
|
(3%)
|
|
3,633
|
|
|
3,843
|
|
|
(5%)
|
|
4,164
|
|
|
(8%)
|
Commercial (c)
|
445.4
|
|
|
416.3
|
|
|
7%
|
|
410.2
|
|
|
1%
|
|
4,159
|
|
|
4,059
|
|
|
2%
|
|
4,099
|
|
|
(1%)
|
|||
Industrial (c)
|
396.4
|
|
|
393.7
|
|
|
1%
|
|
394.6
|
|
|
—%
|
|
5,791
|
|
|
6,007
|
|
|
(4%)
|
|
6,124
|
|
|
(2%)
|
|||
Industrial - co-generation
|
64.0
|
|
|
59.9
|
|
|
7%
|
|
63.9
|
|
|
(6%)
|
|
940
|
|
|
915
|
|
|
3%
|
|
1,008
|
|
|
(9%)
|
|||
Retail subtotal (c)
|
1,442.5
|
|
|
1,410.2
|
|
|
2%
|
|
1,425.1
|
|
|
(1%)
|
|
14,523
|
|
|
14,824
|
|
|
(2%)
|
|
15,395
|
|
|
(4%)
|
|||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Wholesale (c)
|
94.2
|
|
|
56.4
|
|
|
67%
|
|
32.2
|
|
|
75%
|
|
1,360
|
|
|
845
|
|
|
61%
|
|
485
|
|
|
74%
|
|||
Bulk power and other
|
3.6
|
|
|
5.1
|
|
|
(29%)
|
|
2.1
|
|
|
143%
|
|
46
|
|
|
178
|
|
|
(74%)
|
|
59
|
|
|
202%
|
|||
Other
|
29.4
|
|
|
32.1
|
|
|
(8%)
|
|
33.9
|
|
|
(5%)
|
|
41
|
|
|
67
|
|
|
(39%)
|
|
81
|
|
|
(17%)
|
|||
Total revenues/sales
|
1,569.7
|
|
|
1,503.8
|
|
|
4%
|
|
1,493.3
|
|
|
1%
|
|
15,970
|
|
|
15,914
|
|
|
—%
|
|
16,020
|
|
|
(1%)
|
|||
Electric production fuel expense
|
159.1
|
|
|
194.5
|
|
|
(18%)
|
|
231.5
|
|
|
(16%)
|
|
|
|
|
|
|
|
|
|
|
||||||
Purchased power expense
|
271.4
|
|
|
233.9
|
|
|
16%
|
|
265.8
|
|
|
(12%)
|
|
|
|
|
|
|
|
|
|
|
||||||
Electric transmission service expense
|
359.7
|
|
|
328.2
|
|
|
10%
|
|
323.4
|
|
|
1%
|
|
|
|
|
|
|
|
|
|
|
||||||
Electric margins (d)
|
|
$779.5
|
|
|
|
$747.2
|
|
|
4%
|
|
|
$672.6
|
|
|
11%
|
|
|
|
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
|||||||||||||||||||||||
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|||||||
Residential
|
|
$464.4
|
|
|
$442.7
|
|
5%
|
|
$438.1
|
|
1%
|
|
3,519
|
|
|
3,428
|
|
|
3%
|
|
3,533
|
|
|
(3%)
|
||
Commercial
|
267.2
|
|
|
251.5
|
|
|
6%
|
|
247.8
|
|
|
1%
|
|
2,386
|
|
|
2,315
|
|
|
3%
|
|
2,350
|
|
|
(1%)
|
|
Industrial
|
390.7
|
|
|
369.7
|
|
|
6%
|
|
340.5
|
|
|
9%
|
|
4,911
|
|
|
4,813
|
|
|
2%
|
|
4,689
|
|
|
3%
|
|
Retail subtotal
|
1,122.3
|
|
|
1,063.9
|
|
|
5%
|
|
1,026.4
|
|
|
4%
|
|
10,816
|
|
|
10,556
|
|
|
2%
|
|
10,572
|
|
|
—%
|
|
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Wholesale
|
162.4
|
|
|
164.6
|
|
|
(1%)
|
|
174.4
|
|
|
(6%)
|
|
2,679
|
|
|
2,769
|
|
|
(3%)
|
|
3,101
|
|
|
(11%)
|
|
Bulk power and other
|
6.5
|
|
|
23.4
|
|
|
(72%)
|
|
0.8
|
|
|
2,825%
|
|
314
|
|
|
1,050
|
|
|
(70%)
|
|
276
|
|
|
280%
|
|
Other
|
14.6
|
|
|
14.8
|
|
|
(1%)
|
|
18.7
|
|
|
(21%)
|
|
59
|
|
|
62
|
|
|
(5%)
|
|
74
|
|
|
(16%)
|
|
Total revenues/sales
|
1,305.8
|
|
|
1,266.7
|
|
|
3%
|
|
1,220.3
|
|
|
4%
|
|
13,868
|
|
|
14,437
|
|
|
(4%)
|
|
14,023
|
|
|
3%
|
|
Electric production fuel expense
|
249.0
|
|
|
269.1
|
|
|
(7%)
|
|
212.4
|
|
|
27%
|
|
|
|
|
|
|
|
|
|
|
||||
Purchased power expense
|
174.5
|
|
|
140.2
|
|
|
24%
|
|
167.5
|
|
|
(16%)
|
|
|
|
|
|
|
|
|
|
|
||||
Electric transmission service expense
|
168.2
|
|
|
157.1
|
|
|
7%
|
|
124.1
|
|
|
27%
|
|
|
|
|
|
|
|
|
|
|
||||
Electric margins
|
$714.1
|
|
$700.3
|
|
2%
|
|
$716.3
|
|
(2%)
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Reflects the % change from
2015
to
2016
. (b) Reflects the % change from
2014
to
2015
.
|
(c)
|
On July 31, 2015, IPL sold its electric distribution assets in Minnesota. Prior to the asset sale, the related electric sales are included in residential, commercial and industrial retail sales. Subsequent to the asset sale, the related electric sales are included in wholesale electric sales pursuant to a wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative.
|
(d)
|
Includes $64 million, $72 million and $85 million of electric tax benefit rider credits on IPL’s Iowa retail electric customers’ bills for
2016
,
2015
and
2014
, respectively. The electric tax benefit rider resulted in reductions in electric revenues that were offset by reductions in income tax expense for
2016
,
2015
and
2014
.
|
2016 vs. 2015 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher revenues at IPL due to lower retail electric customer billing credits related to the approved retail electric base rate freeze through 2016 (Refer to
Note 2
for details)
|
|
$15
|
|
|
|
$15
|
|
|
|
$—
|
|
Estimated changes in sales caused by temperatures (Refer to “Temperatures” below for details)
|
15
|
|
|
10
|
|
|
5
|
|
|||
Higher revenues at IPL due to fewer electric tax benefit rider credits on customers’ bills (Refer to
Note 2
for details)
|
8
|
|
|
8
|
|
|
—
|
|
|||
Higher electric transmission service expense at WPL (Refer to “Electric Transmission Service Expense” below for details)
|
(11
|
)
|
|
—
|
|
|
(11
|
)
|
|||
Other (a)
|
19
|
|
|
(1
|
)
|
|
20
|
|
|||
|
|
$46
|
|
|
|
$32
|
|
|
|
$14
|
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher revenues at IPL due to lower retail electric customer billing credits related to the approved retail electric base rate freeze (Refer to
Note 2
for details)
|
|
$48
|
|
|
|
$48
|
|
|
|
$—
|
|
Lower purchased electric capacity expense at IPL attributed to the previous DAEC PPA, which ended in February 2014
|
25
|
|
|
25
|
|
|
—
|
|
|||
Higher revenues at IPL due to fewer electric tax benefit rider credits on customers’ bills (Refer to
Note 2
for details)
|
13
|
|
|
13
|
|
|
—
|
|
|||
Changes in electric fuel-related costs, net of recoveries at WPL (Refer to “Electric Production Fuel and Purchased Power (Fuel-related) Expenses” below for details)
|
11
|
|
|
—
|
|
|
11
|
|
|||
Higher revenues at WPL from the impact of increased sales volumes approved in its retail electric base rate case for 2015 (b)
|
9
|
|
|
—
|
|
|
9
|
|
|||
Higher electric transmission service expense at WPL (Refer to “Electric Transmission Service Expense” below for details)
|
(33
|
)
|
|
—
|
|
|
(33
|
)
|
|||
Estimated changes in sales caused by temperatures (Refer to “Temperatures” below for details)
|
(19
|
)
|
|
(10
|
)
|
|
(9
|
)
|
|||
Other (a)
|
5
|
|
|
(1
|
)
|
|
6
|
|
|||
|
|
$59
|
|
|
|
$75
|
|
|
|
($16
|
)
|
(a)
|
Includes increases in temperature-normalized retail sales volumes at WPL in 2016 and 2015. Refer to “Sales Trends” below for more information.
|
(b)
|
The PSCW order received for WPL’s retail fuel-related rate filing (2015 Test Year) contained an increase in retail electric fuel-related revenues in 2015. A portion of the approved increase was attributable to the impact of increased sales volumes approved in WPL’s retail electric base rate case for 2015 resulting in higher electric margin in 2015.
|
|
2016
|
|
2015
|
|
2014
|
||||||
IPL
|
|
$3
|
|
|
|
($7
|
)
|
|
|
$3
|
|
WPL
|
1
|
|
|
(4
|
)
|
|
5
|
|
|||
Total Alliant Energy
|
|
$4
|
|
|
|
($11
|
)
|
|
|
$8
|
|
2016 vs. 2015 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher electric transmission service costs billed from ITC, ATC and MISO primarily due to increased electric transmission service rates
|
|
$35
|
|
|
|
$18
|
|
|
|
$17
|
|
Changes at IPL in the under-/over-collection of electric transmission service expense through the transmission cost rider (a)
|
12
|
|
|
12
|
|
|
—
|
|
|||
Changes in WPL’s costs deferred pursuant to escrow treatment for the difference between actual electric transmission service costs and those costs used to determine rates (a)
|
(7
|
)
|
|
—
|
|
|
(7
|
)
|
|||
Other
|
3
|
|
|
2
|
|
|
1
|
|
|||
|
|
$43
|
|
|
|
$32
|
|
|
|
$11
|
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher electric transmission service costs billed from ITC, ATC and MISO primarily due to increased electric transmission service rates
|
|
$18
|
|
|
|
$6
|
|
|
|
$12
|
|
WPL escrow treatment for the difference between actual electric transmission service costs and those costs used to determine rates (a)
|
21
|
|
|
—
|
|
|
21
|
|
|||
Other
|
(1
|
)
|
|
(1
|
)
|
|
—
|
|
|||
|
|
$38
|
|
|
|
$5
|
|
|
|
$33
|
|
(a)
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
|||||||||||||||||||||||||
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|||||||||
Residential
|
|
$197.6
|
|
|
|
$215.1
|
|
|
(8%)
|
|
|
$287.5
|
|
|
(25%)
|
|
25,571
|
|
|
26,672
|
|
|
(4%)
|
|
31,718
|
|
|
(16%)
|
Commercial
|
109.6
|
|
|
120.5
|
|
|
(9%)
|
|
172.8
|
|
|
(30%)
|
|
18,820
|
|
|
18,966
|
|
|
(1%)
|
|
23,301
|
|
|
(19%)
|
|||
Industrial
|
15.2
|
|
|
14.3
|
|
|
6%
|
|
23.4
|
|
|
(39%)
|
|
3,352
|
|
|
2,997
|
|
|
12%
|
|
3,710
|
|
|
(19%)
|
|||
Retail subtotal
|
322.4
|
|
|
349.9
|
|
|
(8%)
|
|
483.7
|
|
|
(28%)
|
|
47,743
|
|
|
48,635
|
|
|
(2%)
|
|
58,729
|
|
|
(17%)
|
|||
Transportation/other
|
33.0
|
|
|
31.3
|
|
|
5%
|
|
33.8
|
|
|
(7%)
|
|
77,485
|
|
|
74,162
|
|
|
4%
|
|
64,717
|
|
|
15%
|
|||
Total revenues/sales
|
355.4
|
|
|
381.2
|
|
|
(7%)
|
|
517.5
|
|
|
(26%)
|
|
125,228
|
|
|
122,797
|
|
|
2%
|
|
123,446
|
|
|
(1%)
|
|||
Cost of gas sold
|
194.3
|
|
|
219.1
|
|
|
(11%)
|
|
327.8
|
|
|
(33%)
|
|
|
|
|
|
|
|
|
|
|
||||||
Gas margins (c)
|
|
$161.1
|
|
|
|
$162.1
|
|
|
(1%)
|
|
|
$189.7
|
|
|
(15%)
|
|
|
|
|
|
|
|
|
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
|||||||||||||||||||||||||
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|||||||||
Residential
|
|
$110.6
|
|
|
|
$120.0
|
|
|
(8%)
|
|
|
$162.5
|
|
|
(26%)
|
|
13,788
|
|
|
14,472
|
|
|
(5%)
|
|
17,839
|
|
|
(19%)
|
Commercial
|
61.9
|
|
|
67.9
|
|
|
(9%)
|
|
96.1
|
|
|
(29%)
|
|
10,143
|
|
|
10,166
|
|
|
—%
|
|
12,641
|
|
|
(20%)
|
|||
Industrial
|
10.6
|
|
|
10.5
|
|
|
1%
|
|
17.4
|
|
|
(40%)
|
|
2,299
|
|
|
2,239
|
|
|
3%
|
|
2,804
|
|
|
(20%)
|
|||
Retail subtotal
|
183.1
|
|
|
198.4
|
|
|
(8%)
|
|
276.0
|
|
|
(28%)
|
|
26,230
|
|
|
26,877
|
|
|
(2%)
|
|
33,284
|
|
|
(19%)
|
|||
Transportation/other
|
20.9
|
|
|
18.9
|
|
|
11%
|
|
20.5
|
|
|
(8%)
|
|
37,158
|
|
|
34,129
|
|
|
9%
|
|
31,377
|
|
|
9%
|
|||
Total revenues/sales
|
204.0
|
|
|
217.3
|
|
|
(6%)
|
|
296.5
|
|
|
(27%)
|
|
63,388
|
|
|
61,006
|
|
|
4%
|
|
64,661
|
|
|
(6%)
|
|||
Cost of gas sold
|
111.0
|
|
|
123.3
|
|
|
(10%)
|
|
185.5
|
|
|
(34%)
|
|
|
|
|
|
|
|
|
|
|
||||||
Gas margins (c)
|
|
$93.0
|
|
|
|
$94.0
|
|
|
(1%)
|
|
|
$111.0
|
|
|
(15%)
|
|
|
|
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
|||||||||||||||||||||||||
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|
2016
|
|
2015
|
|
(a)
|
|
2014
|
|
(b)
|
|||||||||
Residential
|
|
$87.0
|
|
|
|
$95.1
|
|
|
(9%)
|
|
|
$125.0
|
|
|
(24%)
|
|
11,783
|
|
|
12,200
|
|
|
(3%)
|
|
13,879
|
|
|
(12%)
|
Commercial
|
47.7
|
|
|
52.6
|
|
|
(9%)
|
|
76.7
|
|
|
(31%)
|
|
8,677
|
|
|
8,800
|
|
|
(1%)
|
|
10,660
|
|
|
(17%)
|
|||
Industrial
|
4.6
|
|
|
3.8
|
|
|
21%
|
|
6.0
|
|
|
(37%)
|
|
1,053
|
|
|
758
|
|
|
39%
|
|
906
|
|
|
(16%)
|
|||
Retail subtotal
|
139.3
|
|
|
151.5
|
|
|
(8%)
|
|
207.7
|
|
|
(27%)
|
|
21,513
|
|
|
21,758
|
|
|
(1%)
|
|
25,445
|
|
|
(14%)
|
|||
Transportation/other
|
12.1
|
|
|
12.4
|
|
|
(2%)
|
|
13.3
|
|
|
(7%)
|
|
40,327
|
|
|
40,033
|
|
|
1%
|
|
33,340
|
|
|
20%
|
|||
Total revenues/sales
|
151.4
|
|
|
163.9
|
|
|
(8%)
|
|
221.0
|
|
|
(26%)
|
|
61,840
|
|
|
61,791
|
|
|
—%
|
|
58,785
|
|
|
5%
|
|||
Cost of gas sold
|
83.3
|
|
|
95.8
|
|
|
(13%)
|
|
142.3
|
|
|
(33%)
|
|
|
|
|
|
|
|
|
|
|
||||||
Gas margins
|
|
$68.1
|
|
|
|
$68.1
|
|
|
—%
|
|
|
$78.7
|
|
|
(13%)
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Reflects the % change from
2015
to
2016
. (b) Reflects the % change from
2014
to
2015
.
|
(c)
|
Includes $12 million of gas tax benefit rider credits on IPL’s Iowa retail gas customers’ bills for each of
2016
,
2015
and
2014
. The gas tax benefit rider resulted in reductions in gas revenues that were offset by reductions in income tax expense for
2016
,
2015
and
2014
.
|
2016 vs. 2015 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Estimated changes in sales caused by temperatures (Refer to “Temperatures” below for details)
|
|
($3
|
)
|
|
|
($2
|
)
|
|
|
($1
|
)
|
Other
|
2
|
|
|
1
|
|
|
1
|
|
|||
|
|
($1
|
)
|
|
|
($1
|
)
|
|
|
$—
|
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Estimated changes in sales caused by temperatures (Refer to “Temperatures” below for details)
|
|
($14
|
)
|
|
|
($7
|
)
|
|
|
($7
|
)
|
Lower revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (a)
|
(9
|
)
|
|
(9
|
)
|
|
—
|
|
|||
Lower revenues at WPL due to the impact of changes in retail gas base rates effective January 2015
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
|||
Other
|
(1
|
)
|
|
(1
|
)
|
|
—
|
|
|||
|
|
($28
|
)
|
|
|
($17
|
)
|
|
|
($11
|
)
|
(a)
|
Changes in gas energy efficiency revenues were mostly offset by changes in energy efficiency expense included in other operation and maintenance expenses.
|
|
2016
|
|
2015
|
|
2014
|
||||||
IPL
|
|
($4
|
)
|
|
|
($2
|
)
|
|
|
$5
|
|
WPL
|
(3
|
)
|
|
(2
|
)
|
|
5
|
|
|||
Total Alliant Energy
|
|
($7
|
)
|
|
|
($4
|
)
|
|
|
$10
|
|
2016 vs. 2015 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower steam sales
|
|
($3
|
)
|
|
|
($3
|
)
|
|
|
$—
|
|
Other
|
(6
|
)
|
|
(4
|
)
|
|
(3
|
)
|
|||
|
|
($9
|
)
|
|
|
($7
|
)
|
|
|
($3
|
)
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower margins from IPL’s sharing mechanism related to optimizing gas capacity contracts (a)
|
|
($5
|
)
|
|
|
($5
|
)
|
|
|
$—
|
|
Other
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
|||
|
|
($8
|
)
|
|
|
($5
|
)
|
|
|
($3
|
)
|
(a)
|
Approximately 50% of all margins earned from IPL’s sharing mechanism relating to optimizing gas capacity contracts flow through the gas adjustment clause to reduce retail gas customer bills in Iowa. The remaining margins are retained by IPL and recorded in utility other revenues. Due to the extreme cold temperatures causing natural gas price fluctuations in the first quarter of 2014, margins were higher than normal in 2014.
|
2016 vs. 2015 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower energy efficiency cost recovery amortizations at WPL (a)
|
|
($15
|
)
|
|
|
$—
|
|
|
|
($15
|
)
|
Losses on sales of IPL’s Minnesota distribution assets recorded in 2015 (Refer to
Note 3
for details)
|
(14
|
)
|
|
(14
|
)
|
|
—
|
|
|||
Voluntary employee separation charges in 2015 (Refer to
Note 12(a)
for details)
|
(8
|
)
|
|
(5
|
)
|
|
(3
|
)
|
|||
Higher bad debt expense at IPL (b)
|
9
|
|
|
9
|
|
|
—
|
|
|||
Higher stock-based performance compensation expense (Refer to
Note 12(b)
for details)
|
7
|
|
|
4
|
|
|
3
|
|
|||
Higher employee benefits-related expense (c)
|
7
|
|
|
5
|
|
|
2
|
|
|||
Other (includes lower costs due to cost controls and operational efficiencies)
|
(9
|
)
|
|
(5
|
)
|
|
(3
|
)
|
|||
|
|
($23
|
)
|
|
|
($6
|
)
|
|
|
($16
|
)
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower energy efficiency cost recovery amortizations at WPL (a)
|
|
($38
|
)
|
|
|
$—
|
|
|
|
($38
|
)
|
Lower generation expense (d)
|
(13
|
)
|
|
(2
|
)
|
|
(11
|
)
|
|||
Changes in energy efficiency expense at IPL (e)
|
(5
|
)
|
|
(5
|
)
|
|
—
|
|
|||
Losses on sales of IPL’s Minnesota distribution assets recorded in 2015 (Refer to
Note 3
for details)
|
14
|
|
|
14
|
|
|
—
|
|
|||
Higher employee benefits-related expense (c)
|
14
|
|
|
7
|
|
|
7
|
|
|||
Voluntary employee separation charges in 2015 (Refer to
Note 12(a)
for details)
|
8
|
|
|
5
|
|
|
3
|
|
|||
Other (includes lower costs due to cost controls and operational efficiencies)
|
(16
|
)
|
|
(10
|
)
|
|
(3
|
)
|
|||
|
|
($36
|
)
|
|
|
$9
|
|
|
|
($42
|
)
|
(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. The July 2012 PSCW order for WPL’s 2013/2014 Test Period electric and gas base rate case authorized changes in energy efficiency cost recovery amortizations for 2014. Regulatory amortizations at WPL related to energy efficiency costs were ($11) million, $4 million and $42 million in 2016, 2015 and 2014, respectively.
|
(b)
|
Primarily due to an increase in IPL’s allowance for doubtful accounts as a result of increases in past due accounts receivable.
|
(c)
|
Primarily due to an increase in retirement plans costs and other employee benefits-related costs. The increased retirement plan costs in 2016 were largely due to lower than expected returns on plan assets in 2015. The increased retirement plan costs in 2015 were largely due to decreases in discount rates and a change to life expectancy assumptions in 2014.
|
(d)
|
Primarily due to the timing and extent of maintenance projects at IPL’s and WPL’s EGUs.
|
(e)
|
Changes in IPL’s energy efficiency expense were offset by changes in electric and gas energy efficiency revenues.
|
2016 vs. 2015 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher amortization expense from the new customer billing and information system placed in service in 2015
|
|
$8
|
|
|
|
$4
|
|
|
|
$4
|
|
Lower depreciation expense from the sale of IPL’s Minnesota distribution assets in 2015
|
(3
|
)
|
|
(3
|
)
|
|
—
|
|
|||
Other (includes the impact of property additions)
|
5
|
|
|
3
|
|
|
4
|
|
|||
|
|
$10
|
|
|
|
$4
|
|
|
|
$8
|
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher depreciation expense for IPL’s Ottumwa Unit 1 scrubber and baghouse placed in service in 2014
|
|
$5
|
|
|
|
$5
|
|
|
|
$—
|
|
Other (includes the impact of other property additions)
|
8
|
|
|
5
|
|
|
3
|
|
|||
|
|
$13
|
|
|
|
$10
|
|
|
|
$3
|
|
2016 vs. 2015 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher interest expense from the issuance of IPL’s $250 million, 3.4% senior debentures in August 2015
|
|
$5
|
|
|
|
$5
|
|
|
|
$—
|
|
Other
|
4
|
|
|
1
|
|
|
(1
|
)
|
|||
|
|
$9
|
|
|
|
$6
|
|
|
|
($1
|
)
|
2015 vs. 2014 Summary:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher interest expense from the issuance of WPL’s $250 million, 4.1% debentures in October 2014
|
|
$8
|
|
|
|
$—
|
|
|
|
$8
|
|
Higher interest expense from the issuance of IPL’s $250 million, 3.25% senior debentures in November 2014
|
8
|
|
|
8
|
|
|
—
|
|
|||
Lower interest expense from the retirement of Alliant Energy’s $250 million, 4% senior notes in October 2014
|
(8
|
)
|
|
—
|
|
|
—
|
|
|||
Other
|
(1
|
)
|
|
(1
|
)
|
|
(2
|
)
|
|||
|
|
$7
|
|
|
|
$7
|
|
|
|
$6
|
|
•
|
Natural gas
- constructing and/or converting to natural gas-fired EGUs.
|
•
|
Renewables
- operating wind farms, solar projects and hydroelectric generators, as well as developing future wind sites and solar projects.
|
•
|
PPAs
- purchasing electricity to meet a portion of customers’ demand for electricity, including wind, solar power and nuclear generation PPAs.
|
•
|
Coal
- implementing environmental controls and generation performance and reliability improvements at newer, larger and more efficient coal-fired EGUs, and fuel switching at, and retirement of, certain older, smaller and less efficient coal-fired EGUs.
|
•
|
An 11% return on common equity for the 35-year depreciable life of Marshalltown and a 10.3% return on common equity for the calculation of AFUDC related to the construction of Marshalltown.
|
•
|
The application of double leverage is deferred until IPL’s next retail electric base rate case, which is expected to be filed in the second quarter of 2017 based on a 2016 historical Test Year.
|
Counterparty
|
|
Option Amount
|
|
Option Timing
|
Wisconsin Public Service Corporation (WPSC)
|
|
up to 200 MW (no more than 100 MW to be acquired in first two years) (a)
|
|
2020-2024 (b)
|
Madison Gas and Electric Company (MGE)
|
|
up to 50 MW (no more than 25 MW to be acquired in first two years)
|
|
2020-2025 (b)
|
Electric cooperatives
|
|
approximately 65 MW
|
|
During construction of the EGU
|
(a)
|
If WPSC exercises its options, WPL may exercise reciprocal options, subject to approval by the PSCW, to purchase up to 200 MW of any natural-gas combined-cycle EGU that either WPSC or its affiliated utility, Wisconsin Electric Power Company (Wisconsin Electric), places in service within 10 years of the date the Riverside expansion is placed in service.
|
(b)
|
Assumes an in-service date in early 2020.
|
•
|
Riverside Expansion Market Participation Date
- WPL agreed that the Riverside expansion would not enter the MISO capacity market prior to the date set by MISO for qualifying generation as a capacity asset for the MISO planning year beginning June 1, 2020.
|
•
|
WPL and Wisconsin Electric Capacity Agreement
- In the second quarter of 2016, WPL and Wisconsin Electric executed a capacity agreement whereby WPL would purchase specified levels of capacity from Wisconsin Electric from June 1, 2017 through May 31, 2020.
|
•
|
Renewable Generation Joint Development Agreement
- In June 2016, WPL, Wisconsin Electric and WPSC executed a separate joint development agreement for the purpose of cooperatively developing any renewable resources greater than 50 MW in Wisconsin for the benefit of their respective customers. The agreement has a 10-year term beginning June 1, 2016, and the utility that originates such renewable resource would hold a majority ownership and operational control of the renewable resource. The other two utilities would have the right to acquire a minority interest in the other utility’s renewable resource.
|
|
|
Status
|
|
IPL
|
|
WPL
|
||
Expansion of wind generation
|
|
Approved by IUB
|
|
500
|
|
|
N/A
|
|
Expansion of wind generation
|
|
Planned
|
|
200
|
|
|
200
|
|
Transfer of Franklin County wind farm assets from AEF to IPL
|
|
Approved by FERC
|
|
99
|
|
|
N/A
|
|
•
|
Up to 500 MW of additional wind generation that qualifies for the full level of production tax credits, regardless of the location in Iowa, with a cost cap of $1,830/kilowatt, including AFUDC and transmission costs. Any costs incurred in excess of this $1,830/kilowatt cost cap are expected to be incorporated into rates if determined to be reasonable and prudent.
|
•
|
A depreciable life of the wind generation of 40 years, unless changed as a result of a contested case before the IUB.
|
•
|
An 11.0% return on common equity, with the exception of certain transmission facilities classified as intangible assets, which would earn the rate of return on common equity the IUB finds reasonable during a future rate case.
|
•
|
A return on common equity for the calculation of AFUDC during the construction period that is the greater of 10.0% or the percentage the IUB finds reasonable during IPL’s next rate case.
|
•
|
The application of double leverage is deferred until IPL’s next retail electric base rate case or other future proceeding.
|
•
|
Amortization over a 10-year period of IPL’s prudently incurred and unreimbursed costs, effective with IPL’s next retail electric base rate case, if IPL cancels the construction of the wind generation.
|
IPL
|
|
WPL
|
||||||||||||
|
|
Expected
|
|
Net Book
|
|
|
|
Expected
|
|
Net Book
|
||||
EGU
|
|
Action
|
|
Value
|
|
EGU
|
|
Action
|
|
Value
|
||||
Sutherland Units 1 and 3
|
|
Retire by 6/30/17
|
|
|
$43
|
|
|
Edgewater Unit 4
|
|
Retire by 12/31/18
|
|
|
$37
|
|
Dubuque Units 3 and 4
|
|
Retire by 6/30/17
|
|
5
|
|
|
Rock River CT Units 3-6
|
|
Retire by 12/31/20
|
|
2
|
|
||
Prairie Creek Unit 4
|
|
Fuel switch by 12/31/17
|
|
52
|
|
|
Sheepskin CT Unit 1
|
|
Retire by 12/31/20
|
|
—
|
|
||
Marshalltown CT Units 1-3
|
|
Fuel switch by 12/31/17
|
|
4
|
|
|
|
|
|
|
|
|||
Fox Lake Unit 1 and 3
|
|
Retire by 12/31/17
|
|
2
|
|
|
|
|
|
|
|
|||
Other units
|
|
Retire by 12/31/17
|
|
1
|
|
|
|
|
|
|
|
|||
Red Cedar CT Unit 1
|
|
Retire by 12/31/18
|
|
4
|
|
|
|
|
|
|
|
|||
Burlington Unit 1
|
|
Fuel switch by 12/31/21
|
|
62
|
|
|
|
|
|
|
|
|||
Prairie Creek Units 1 and 3
|
|
Fuel switch or retire by 12/31/25
|
|
94
|
|
|
|
|
|
|
|
|
Electric
|
|
Gas
|
|
Total
|
||||||
Regulatory liability account balance approved by IUB
|
|
$520
|
|
|
|
$55
|
|
|
|
$575
|
|
2011 through 2016 customer billing credits
|
(444
|
)
|
|
(47
|
)
|
|
(491
|
)
|
|||
2017 customer billing credits (estimate)
|
(76
|
)
|
|
(8
|
)
|
|
(84
|
)
|
|||
Remaining balance available for future periods
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
|
|
Authorized Return
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
|
Test
|
|
on Common
|
|
Regulatory Capital Structure
|
|
After-tax
|
|
Rate Base
|
|||||||
Jurisdictions
|
|
Period/Year
|
|
Equity (a)
|
|
CE
|
|
PE
|
|
LD
|
|
SD
|
|
WACC
|
|
(in millions)
|
|
IPL:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Iowa retail (IUB):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Electric:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Emery (b)
|
|
2009
|
|
11.58
|
%
|
|
48.2%
|
|
6.5%
|
|
45.3%
|
|
N/A
|
|
8.85%
|
|
$281 (c)
|
- Whispering Willow - East (b)
|
|
2009
|
|
11.09
|
%
|
|
48.2%
|
|
6.5%
|
|
45.3%
|
|
N/A
|
|
8.61%
|
|
266 (c)
|
- Other (b)
|
|
2009
|
|
9.53
|
%
|
|
48.2%
|
|
6.5%
|
|
45.3%
|
|
N/A
|
|
7.86%
|
|
1,843 (c)
|
Gas (d)
|
|
2011
|
|
9.56
|
%
|
|
48.8%
|
|
5.0%
|
|
46.2%
|
|
N/A
|
|
7.76%
|
|
255 (c)
|
Wholesale electric (FERC) (e)
|
|
2016
|
|
10.97
|
%
|
|
47.8%
|
|
5.0%
|
|
47.2%
|
|
N/A
|
|
7.90%
|
|
119 (f)
|
WPL:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wisconsin retail (PSCW):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Electric
|
|
2017
|
|
10.00
|
%
|
|
52.2%
|
|
N/A
|
|
43.9%
|
|
3.9%
|
|
7.57%
|
|
2,699 (g)
|
Electric
|
|
2018
|
|
10.00
|
%
|
|
52.2%
|
|
N/A
|
|
45.2%
|
|
2.6%
|
|
7.59%
|
|
2,851 (g)
|
Gas
|
|
2017
|
|
10.00
|
%
|
|
52.2%
|
|
N/A
|
|
43.9%
|
|
3.9%
|
|
7.57%
|
|
259 (g)
|
Gas
|
|
2018
|
|
10.00
|
%
|
|
52.2%
|
|
N/A
|
|
45.2%
|
|
2.6%
|
|
7.59%
|
|
284 (g)
|
Wholesale electric (FERC) (h)
|
|
2016
|
|
10.90
|
%
|
|
55.0%
|
|
N/A
|
|
45.0%
|
|
N/A
|
|
8.39%
|
|
299 (f)
|
(a)
|
Authorized returns on common equity may not be indicative of actual returns earned or projections of future returns.
|
(b)
|
Authorized returns on common equity and after-tax WACC reflect application of double leverage pursuant to a January 2011 IUB order. Prior to the application of double leverage, authorized returns on common equity were: Emery-12.23%, Whispering Willow-East-11.7% and Other-10.0%, and after-tax WACC were: Emery-9.16%, Whispering Willow-East-8.91% and Other-8.09%.
|
(c)
|
Average rate base was calculated using balances as of the end of the test year, adjusted for post-test year capital additions placed in service by September 30 following the end of the test year.
|
(d)
|
Authorized returns on common equity and after-tax WACC reflect application of double leverage pursuant to the unanimous settlement agreement approved in the IUB’s November 2012 order. Prior to the application of double leverage, authorized return on common equity was 10.0% and after-tax WACC was 8.0%.
|
(e)
|
IPL’s wholesale formula rates reflect annual changes in CE, PE, LD, WACC and rate base.
|
(f)
|
Wholesale average rate base reflects production-related rate base calculated as the simple average of the beginning of the test year and end of the test year balances in accordance with the respectively approved formula rates.
|
(g)
|
Average rate base amounts do not include CWIP or a cash working capital allowance and were calculated using a forecasted 13-month average for the test period. The PSCW provides a return on selected CWIP and a cash working capital allowance by adjusting the percentage return on rate base.
|
(h)
|
WPL’s wholesale formula rates reflect annual changes in WACC and rate base.
|
Environmental Rule
|
|
Emissions Regulated
|
|
Alliant Energy’s Primary Facilities Potentially Affected
|
|
Actual/Anticipated Compliance Deadline
|
CSAPR
|
|
SO2, NOx
|
|
Fossil-fueled EGUs over 25 MW capacity in IA, WI and MN
|
|
Phase I - 2015; Phase II - 2017
|
CAA Section 111(d)
|
|
CO2
|
|
Existing fossil-fueled EGUs over 25 MW capacity
|
|
Phase I - 2022-2029; Phase II - 2030
|
CAA Section 111(b)
|
|
CO2
|
|
IPL’s Marshalltown facility and WPL’s Riverside expansion
|
|
Upon startup of EGU
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||
|
2016
|
2015
|
2014
|
|
2016
|
2015
|
2014
|
|
2016
|
2015
|
2014
|
||||||||||||||||||
Cash and cash equivalents, January 1
|
|
$5.8
|
|
|
$56.9
|
|
|
$9.8
|
|
|
|
$4.5
|
|
|
$5.3
|
|
|
$4.4
|
|
|
|
$0.4
|
|
|
$46.7
|
|
|
$0.5
|
|
Cash flows from (used for):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Operating activities
|
859.6
|
|
871.2
|
|
891.6
|
|
|
361.9
|
|
385.0
|
|
406.1
|
|
|
521.4
|
|
449.8
|
|
424.4
|
|
|||||||||
Investing activities
|
(1,186.5
|
)
|
(919.2
|
)
|
(917.7
|
)
|
|
(693.6
|
)
|
(511.9
|
)
|
(552.7
|
)
|
|
(478.9
|
)
|
(358.2
|
)
|
(320.1
|
)
|
|||||||||
Financing activities
|
329.3
|
|
(3.1
|
)
|
73.2
|
|
|
330.5
|
|
126.1
|
|
147.5
|
|
|
(38.7
|
)
|
(137.9
|
)
|
(58.1
|
)
|
|||||||||
Net increase (decrease)
|
2.4
|
|
(51.1
|
)
|
47.1
|
|
|
(1.2
|
)
|
(0.8
|
)
|
0.9
|
|
|
3.8
|
|
(46.3
|
)
|
46.2
|
|
|||||||||
Cash and cash equivalents, December 31
|
|
$8.2
|
|
|
$5.8
|
|
|
$56.9
|
|
|
|
$3.3
|
|
|
$4.5
|
|
|
$5.3
|
|
|
|
$4.2
|
|
|
$0.4
|
|
|
$46.7
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Decreased collections from IPL’s retail customers due to increased past due amounts
|
|
($33
|
)
|
|
|
($33
|
)
|
|
|
$—
|
|
Changes in cash collateral balances
|
(27
|
)
|
|
—
|
|
|
—
|
|
|||
Changes in income taxes (paid) refunded
|
(10
|
)
|
|
(30
|
)
|
|
35
|
|
|||
Changes in the level of cash proceeds from IPL’s sales of accounts receivable
|
33
|
|
|
33
|
|
|
—
|
|
|||
Timing of WPL’s fuel-related cost recoveries from customers (Refer to
Note 2
for details)
|
17
|
|
|
—
|
|
|
17
|
|
|||
Changes in collections at IPL from higher revenues from retail electric customer billing credits related to the approved retail electric base rate freeze through 2016 (Refer to
Note 2
for details)
|
15
|
|
|
15
|
|
|
—
|
|
|||
Other (includes other changes in working capital largely related to changes in inventory levels)
|
(7
|
)
|
|
(8
|
)
|
|
20
|
|
|||
|
|
($12
|
)
|
|
|
($23
|
)
|
|
|
$72
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Decreased collections from IPL’s and WPL’s retail customers caused by temperature impacts on electric and gas sales
|
|
($33
|
)
|
|
|
($17
|
)
|
|
|
($16
|
)
|
Final receipt related to Alliant Energy’s tax separation and indemnification agreement with Whiting Petroleum in 2014 (Refer to
Note 5(c)
for details)
|
(26
|
)
|
|
—
|
|
|
—
|
|
|||
Timing of WPL’s fuel-related cost recoveries from customers
|
50
|
|
|
—
|
|
|
50
|
|
|||
Changes in collections at IPL from higher revenues from retail electric customer billing credits related to the approved retail electric base rate freeze (Refer to
Note 2
for details)
|
48
|
|
|
48
|
|
|
—
|
|
|||
Other (includes other changes in working capital largely related to changes in inventory levels)
|
(59
|
)
|
|
(52
|
)
|
|
(9
|
)
|
|||
|
|
($20
|
)
|
|
|
($21
|
)
|
|
|
$25
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
IPL
|
|
($11
|
)
|
|
|
$19
|
|
|
|
$20
|
|
WPL
|
28
|
|
|
(7
|
)
|
|
(12
|
)
|
|||
Other subsidiaries
|
(27
|
)
|
|
(12
|
)
|
|
(3
|
)
|
|||
Alliant Energy
|
|
($10
|
)
|
|
|
$—
|
|
|
|
$5
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher utility construction expenditures (largely due to higher expenditures for IPL’s expansion of wind generation, IPL’s and WPL’s electric and gas distribution systems and WPL’s Riverside expansion in 2016, partially offset by lower expenditures for IPL’s Marshalltown facility and environmental controls projects at WPL’s Edgewater Unit 5 in 2016)
|
|
($179
|
)
|
|
|
($70
|
)
|
|
|
($109
|
)
|
Proceeds from IPL’s Minnesota distribution asset sales in 2015 (Refer to
Note 3
for details)
|
(140
|
)
|
|
(140
|
)
|
|
—
|
|
|||
Proceeds from the liquidation of company-owned life insurance policies in 2016
|
31
|
|
|
19
|
|
|
—
|
|
|||
Other
|
21
|
|
|
9
|
|
|
(12
|
)
|
|||
|
|
($267
|
)
|
|
|
($182
|
)
|
|
|
($121
|
)
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Proceeds from IPL’s Minnesota distribution asset sales in 2015 (Refer to
Note 3
for details)
|
|
$140
|
|
|
|
$140
|
|
|
|
$—
|
|
Higher utility construction expenditures (largely due to higher expenditures for IPL’s Marshalltown facility and environmental controls projects at WPL’s Edgewater Unit 5 in 2015, partially offset by lower expenditures for environmental controls projects at IPL’s Ottumwa Unit 1 and WPL’s Columbia Units 1 and 2 in 2015)
|
(125
|
)
|
|
(93
|
)
|
|
(31
|
)
|
|||
Other
|
(17
|
)
|
|
(6
|
)
|
|
(7
|
)
|
|||
|
|
($2
|
)
|
|
|
$41
|
|
|
|
($38
|
)
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|||||||||||||||||||||||||||||||||
|
2017
|
2018
|
2019
|
2020
|
|
2017
|
2018
|
2019
|
2020
|
|
2017
|
2018
|
2019
|
2020
|
||||||||||||||||||||||||
Generation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Renewable projects
|
|
$105
|
|
|
$310
|
|
|
$690
|
|
|
$260
|
|
|
|
$140
|
|
|
$290
|
|
|
$500
|
|
|
$150
|
|
|
|
$—
|
|
|
$20
|
|
|
$190
|
|
|
$110
|
|
Riverside expansion
|
255
|
|
230
|
|
75
|
|
5
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
255
|
|
230
|
|
75
|
|
5
|
|
||||||||||||
Marshalltown
|
50
|
|
—
|
|
—
|
|
—
|
|
|
50
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
||||||||||||
Other
|
240
|
|
180
|
|
170
|
|
160
|
|
|
85
|
|
85
|
|
85
|
|
85
|
|
|
155
|
|
95
|
|
85
|
|
75
|
|
||||||||||||
Distribution:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Electric systems
|
465
|
|
485
|
|
420
|
|
405
|
|
|
280
|
|
310
|
|
240
|
|
235
|
|
|
185
|
|
175
|
|
180
|
|
170
|
|
||||||||||||
Gas systems
|
130
|
|
125
|
|
95
|
|
220
|
|
|
90
|
|
55
|
|
55
|
|
165
|
|
|
40
|
|
70
|
|
40
|
|
55
|
|
||||||||||||
Other
|
155
|
|
115
|
|
110
|
|
105
|
|
|
40
|
|
25
|
|
25
|
|
20
|
|
|
20
|
|
15
|
|
15
|
|
15
|
|
||||||||||||
|
|
$1,400
|
|
|
$1,445
|
|
|
$1,560
|
|
|
$1,155
|
|
|
|
$685
|
|
|
$765
|
|
|
$905
|
|
|
$655
|
|
|
|
$655
|
|
|
$605
|
|
|
$585
|
|
|
$430
|
|
|
Initial
|
|
Current
|
||||
|
Authorization
|
|
Remaining Authority
|
||||
Long-term debt securities issuances in aggregate
|
|
$550
|
|
|
|
$250
|
|
Short-term debt securities outstanding at any time (including borrowings from its parent)
|
300
|
|
|
300
|
|
||
Preferred stock issuances in aggregate
|
300
|
|
|
300
|
|
Company
|
|
Principal Amount
|
|
Type
|
|
Interest Rate
|
|
Maturity Date
|
|
Use of Proceeds
|
||
2016:
|
|
|
|
|
|
|
|
|
|
|
||
AEF
|
|
|
$500
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2016
|
|
Oct-2018
|
|
Retire borrowings under Alliant Energy’s and Franklin County Holdings LLC’s variable-rate term loan credit agreements that matured in 2016, reduce outstanding commercial paper and for general corporate purposes
|
IPL
|
|
300
|
|
|
Senior debentures
|
|
3.7%
|
|
Sep-2046
|
|
Reduce cash amounts received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt and for general corporate purposes
|
|
2015:
|
|
|
|
|
|
|
|
|
|
|
||
IPL
|
|
250
|
|
|
Senior debentures
|
|
3.4%
|
|
Aug-2025
|
|
Reduce commercial paper classified as long-term debt, reduce cash amounts received from its sales of accounts receivable program and for general corporate purposes
|
|
2014:
|
|
|
|
|
|
|
|
|
|
|
||
Alliant Energy
|
|
250
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2015
|
|
Oct-2016
|
|
Retire its $250 million, 4% senior notes due 2014
|
|
IPL
|
|
250
|
|
|
Senior debentures
|
|
3.25%
|
|
Dec-2024
|
|
Reduce cash amounts received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt and for general corporate purposes
|
|
WPL
|
|
250
|
|
|
Debentures
|
|
4.1%
|
|
Oct-2044
|
|
Reduce commercial paper and for general corporate purposes
|
|
Franklin County Holdings LLC
|
|
60
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2015
|
|
Dec-2016
|
|
Retire borrowings under a term loan credit agreement that matured in December 2014
|
Company
|
|
Principal Amount
|
|
Type
|
|
Interest Rate
|
|
Retirement Date
|
||
2016:
|
|
|
|
|
|
|
|
|
||
Alliant Energy
|
|
|
$250
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2015
|
|
Oct-2016
|
Franklin County Holdings LLC
|
|
60
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2015
|
|
Oct-2016
|
|
2015:
|
|
|
|
|
|
|
|
|
||
IPL
|
|
150
|
|
|
Senior debentures
|
|
3.3%
|
|
Jun-2015
|
|
WPL
|
|
16
|
|
|
Pollution control revenue bonds
|
|
5%
|
|
Sep-2015
|
|
WPL
|
|
15
|
|
|
Pollution control revenue bonds
|
|
5.375%
|
|
Aug-2015
|
|
2014:
|
|
|
|
|
|
|
|
|
||
Alliant Energy
|
|
250
|
|
|
Senior notes
|
|
4%
|
|
Oct-2014
|
|
Franklin County Holdings LLC
|
|
60
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2013
|
|
Dec-2014
|
|
IPL
|
|
38
|
|
|
Pollution control revenue bonds
|
|
5%
|
|
Jul-2014
|
|
|
Standard & Poor’s Ratings Services
|
|
Moody’s Investors Service
|
Alliant Energy:
|
Corporate/issuer
|
A-
|
|
Baa1
|
|
Commercial paper
|
A-2
|
|
P-2
|
|
Senior unsecured long-term debt
|
N/A
|
|
Baa1
|
|
Outlook
|
Stable
|
|
Stable
|
IPL:
|
Corporate/issuer
|
A-
|
|
Baa1
|
|
Commercial paper
|
A-2
|
|
P-2
|
|
Senior unsecured long-term debt
|
A-
|
|
Baa1
|
|
Preferred stock
|
BBB
|
|
Baa3
|
|
Outlook
|
Stable
|
|
Stable
|
WPL:
|
Corporate/issuer
|
A
|
|
A2
|
|
Commercial paper
|
A-1
|
|
P-1
|
|
Senior unsecured long-term debt
|
A
|
|
A2
|
|
Outlook
|
Stable
|
|
Stable
|
Alliant Energy
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|
Total
|
||||||||||||||
Operating expense purchase obligations (
Note 16(b)
)
|
|
$529
|
|
|
|
$389
|
|
|
|
$297
|
|
|
|
$237
|
|
|
|
$220
|
|
|
|
$728
|
|
|
|
$2,400
|
|
Long-term debt maturities (
Note 9(b)
)
|
5
|
|
|
856
|
|
|
256
|
|
|
357
|
|
|
8
|
|
|
2,875
|
|
|
4,357
|
|
|||||||
Interest - long-term debt obligations
|
199
|
|
|
197
|
|
|
167
|
|
|
151
|
|
|
140
|
|
|
2,074
|
|
|
2,928
|
|
|||||||
Capital purchase obligations (
Note 16(a)
)
|
58
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
58
|
|
|||||||
Operating leases (
Note 10(a)
)
|
6
|
|
|
6
|
|
|
2
|
|
|
2
|
|
|
1
|
|
|
15
|
|
|
32
|
|
|||||||
Capital leases
|
2
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
—
|
|
|
6
|
|
|||||||
|
|
$799
|
|
|
|
$1,449
|
|
|
|
$723
|
|
|
|
$748
|
|
|
|
$370
|
|
|
|
$5,692
|
|
|
|
$9,781
|
|
IPL
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|
Total
|
||||||||||||||
Operating expense purchase obligations (
Note 16(b)
)
|
|
$322
|
|
|
|
$225
|
|
|
|
$209
|
|
|
|
$176
|
|
|
|
$172
|
|
|
|
$670
|
|
|
|
$1,774
|
|
Long-term debt maturities (
Note 9(b)
)
|
—
|
|
|
350
|
|
|
—
|
|
|
200
|
|
|
—
|
|
|
1,625
|
|
|
2,175
|
|
|||||||
Interest - long-term debt obligations
|
107
|
|
|
107
|
|
|
83
|
|
|
83
|
|
|
75
|
|
|
1,117
|
|
|
1,572
|
|
|||||||
Capital purchase obligations (
Note 16(a)
)
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|||||||
Operating leases (
Note 10(a)
)
|
3
|
|
|
2
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
10
|
|
|
18
|
|
|||||||
Capital leases
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||||
|
|
$436
|
|
|
|
$684
|
|
|
|
$293
|
|
|
|
$460
|
|
|
|
$248
|
|
|
|
$3,422
|
|
|
|
$5,543
|
|
WPL
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|
Total
|
||||||||||||||
Operating expense purchase obligations (
Note 16(b)
)
|
|
$206
|
|
|
|
$162
|
|
|
|
$85
|
|
|
|
$59
|
|
|
|
$46
|
|
|
|
$53
|
|
|
|
$611
|
|
Long-term debt maturities (
Note 9(b)
)
|
—
|
|
|
—
|
|
|
250
|
|
|
150
|
|
|
—
|
|
|
1,150
|
|
|
1,550
|
|
|||||||
Interest - long-term debt obligations
|
80
|
|
|
80
|
|
|
80
|
|
|
64
|
|
|
60
|
|
|
951
|
|
|
1,315
|
|
|||||||
Capital purchase obligations (
Note 16(a)
)
|
55
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
55
|
|
|||||||
Operating leases (
Note 10(a)
)
|
3
|
|
|
4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|||||||
Capital lease - Sheboygan Falls (
Note 10(b)
)
|
15
|
|
|
15
|
|
|
15
|
|
|
15
|
|
|
15
|
|
|
53
|
|
|
128
|
|
|||||||
Capital leases - other
|
1
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
—
|
|
|
5
|
|
|||||||
|
|
$360
|
|
|
|
$262
|
|
|
|
$431
|
|
|
|
$289
|
|
|
|
$122
|
|
|
|
$2,207
|
|
|
|
$3,671
|
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
Change in Actuarial Assumption
|
|
Impact on Projected Benefit Obligation at December 31, 2016
|
|
Impact on 2017 Net Periodic Benefit Costs
|
|
Impact on Projected Benefit Obligation at December 31, 2016
|
|
Impact on 2017 Net Periodic Benefit Costs
|
||||||||
Alliant Energy
|
|
|
|
|
|
|
|
|
||||||||
1% change in discount rate
|
|
|
$162
|
|
|
|
$11
|
|
|
|
$21
|
|
|
|
$2
|
|
1% change in expected rate of return
|
|
N/A
|
|
|
9
|
|
|
N/A
|
|
|
1
|
|
||||
IPL
|
|
|
|
|
|
|
|
|
||||||||
1% change in discount rate
|
|
75
|
|
|
5
|
|
|
8
|
|
|
1
|
|
||||
1% change in expected rate of return
|
|
N/A
|
|
|
4
|
|
|
N/A
|
|
|
1
|
|
||||
WPL
|
|
|
|
|
|
|
|
|
||||||||
1% change in discount rate
|
|
71
|
|
|
6
|
|
|
8
|
|
|
1
|
|
||||
1% change in expected rate of return
|
|
N/A
|
|
|
4
|
|
|
N/A
|
|
|
—
|
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(in millions, except per share amounts)
|
||||||||||
Operating revenues:
|
|
|
|
|
|
||||||
Electric utility
|
|
$2,875.5
|
|
|
|
$2,770.5
|
|
|
|
$2,713.6
|
|
Gas utility
|
355.4
|
|
|
381.2
|
|
|
517.5
|
|
|||
Other utility
|
48.6
|
|
|
57.9
|
|
|
66.1
|
|
|||
Non-regulated
|
40.5
|
|
|
44.0
|
|
|
53.1
|
|
|||
Total operating revenues
|
3,320.0
|
|
|
3,253.6
|
|
|
3,350.3
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Electric production fuel and purchased power
|
854.0
|
|
|
837.7
|
|
|
877.2
|
|
|||
Electric transmission service
|
527.9
|
|
|
485.3
|
|
|
447.5
|
|
|||
Cost of gas sold
|
194.3
|
|
|
219.1
|
|
|
327.8
|
|
|||
Asset valuation charges for Franklin County wind farm
|
86.4
|
|
|
—
|
|
|
—
|
|
|||
Other operation and maintenance
|
606.5
|
|
|
629.5
|
|
|
665.0
|
|
|||
Depreciation and amortization
|
411.6
|
|
|
401.3
|
|
|
388.1
|
|
|||
Taxes other than income taxes
|
102.3
|
|
|
103.7
|
|
|
101.1
|
|
|||
Total operating expenses
|
2,783.0
|
|
|
2,676.6
|
|
|
2,806.7
|
|
|||
Operating income
|
537.0
|
|
|
577.0
|
|
|
543.6
|
|
|||
Interest expense and other:
|
|
|
|
|
|
||||||
Interest expense
|
196.2
|
|
|
187.1
|
|
|
180.6
|
|
|||
Equity income from unconsolidated investments, net
|
(39.6
|
)
|
|
(33.8
|
)
|
|
(40.4
|
)
|
|||
Allowance for funds used during construction
|
(62.5
|
)
|
|
(36.9
|
)
|
|
(34.8
|
)
|
|||
Interest income and other
|
(0.5
|
)
|
|
(0.7
|
)
|
|
(1.8
|
)
|
|||
Total interest expense and other
|
93.6
|
|
|
115.7
|
|
|
103.6
|
|
|||
Income from continuing operations before income taxes
|
443.4
|
|
|
461.3
|
|
|
440.0
|
|
|||
Income taxes
|
59.4
|
|
|
70.4
|
|
|
44.3
|
|
|||
Income from continuing operations, net of tax
|
384.0
|
|
|
390.9
|
|
|
395.7
|
|
|||
Loss from discontinued operations, net of tax
|
(2.3
|
)
|
|
(2.5
|
)
|
|
(2.4
|
)
|
|||
Net income
|
381.7
|
|
|
388.4
|
|
|
393.3
|
|
|||
Preferred dividend requirements of Interstate Power and Light Company
|
10.2
|
|
|
10.2
|
|
|
10.2
|
|
|||
Net income attributable to Alliant Energy common shareowners
|
|
$371.5
|
|
|
|
$378.2
|
|
|
|
$383.1
|
|
Weighted average number of common shares outstanding (basic and diluted) (a)
|
227.1
|
|
|
225.4
|
|
|
221.7
|
|
|||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted) (a):
|
|
|
|
|
|
||||||
Income from continuing operations, net of tax
|
|
$1.65
|
|
|
|
$1.69
|
|
|
|
$1.74
|
|
Loss from discontinued operations, net of tax
|
(0.01
|
)
|
|
(0.01
|
)
|
|
(0.01
|
)
|
|||
Net income
|
|
$1.64
|
|
|
|
$1.68
|
|
|
|
$1.73
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
||||||
Income from continuing operations, net of tax
|
|
$373.8
|
|
|
|
$380.7
|
|
|
|
$385.5
|
|
Loss from discontinued operations, net of tax
|
(2.3
|
)
|
|
(2.5
|
)
|
|
(2.4
|
)
|
|||
Net income
|
|
$371.5
|
|
|
|
$378.2
|
|
|
|
$383.1
|
|
(a)
|
Amounts reflect the effects of a two-for-one common stock split distributed in May 2016
.
Refer to
Note 7
for additional details.
|
|
December 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$8.2
|
|
|
|
$5.8
|
|
Accounts receivable, less allowance for doubtful accounts
|
493.3
|
|
|
397.6
|
|
||
Production fuel, at weighted average cost
|
98.1
|
|
|
98.8
|
|
||
Gas stored underground, at weighted average cost
|
37.6
|
|
|
43.3
|
|
||
Materials and supplies, at weighted average cost
|
86.6
|
|
|
81.4
|
|
||
Regulatory assets
|
57.8
|
|
|
120.2
|
|
||
Other
|
95.5
|
|
|
79.7
|
|
||
Total current assets
|
877.1
|
|
|
826.8
|
|
||
Property, plant and equipment, net
|
10,279.2
|
|
|
9,519.1
|
|
||
Investments:
|
|
|
|
||||
Investment in American Transmission Company LLC
|
317.6
|
|
|
293.3
|
|
||
Other
|
20.0
|
|
|
53.0
|
|
||
Total investments
|
337.6
|
|
|
346.3
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,857.3
|
|
|
1,788.4
|
|
||
Deferred charges and other
|
22.6
|
|
|
14.6
|
|
||
Total other assets
|
1,879.9
|
|
|
1,803.0
|
|
||
Total assets
|
|
$13,373.8
|
|
|
|
$12,495.2
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$4.6
|
|
|
|
$313.4
|
|
Commercial paper
|
244.1
|
|
|
159.8
|
|
||
Accounts payable
|
445.3
|
|
|
402.4
|
|
||
Regulatory liabilities
|
186.2
|
|
|
187.1
|
|
||
Accrued taxes
|
59.5
|
|
|
53.2
|
|
||
Other
|
222.3
|
|
|
243.4
|
|
||
Total current liabilities
|
1,162.0
|
|
|
1,359.3
|
|
||
Long-term debt, net (excluding current portion)
|
4,315.6
|
|
|
3,522.2
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
2,570.2
|
|
|
2,381.2
|
|
||
Regulatory liabilities
|
494.8
|
|
|
550.6
|
|
||
Pension and other benefit obligations
|
489.9
|
|
|
451.8
|
|
||
Other
|
279.3
|
|
|
306.0
|
|
||
Total other liabilities
|
3,834.2
|
|
|
3,689.6
|
|
||
Commitments and contingencies (
Note 16
)
|
|
|
|
||||
Equity:
|
|
|
|
||||
Alliant Energy Corporation common equity:
|
|
|
|
||||
Common stock - $0.01 par value - 480,000,000 shares authorized; 227,673,654 and 226,918,432 shares outstanding (a)
|
2.3
|
|
|
2.3
|
|
||
Additional paid-in capital (a)
|
1,693.1
|
|
|
1,661.8
|
|
||
Retained earnings
|
2,177.0
|
|
|
2,068.9
|
|
||
Accumulated other comprehensive loss
|
(0.4
|
)
|
|
(0.4
|
)
|
||
Shares in deferred compensation trust - 441,695 and 430,186 shares at a weighted average cost of $22.71 and $19.84 per share (a)
|
(10.0
|
)
|
|
(8.5
|
)
|
||
Total Alliant Energy Corporation common equity
|
3,862.0
|
|
|
3,724.1
|
|
||
Cumulative preferred stock of Interstate Power and Light Company
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
4,062.0
|
|
|
3,924.1
|
|
||
Total liabilities and equity
|
|
$13,373.8
|
|
|
|
$12,495.2
|
|
(a)
|
Amounts reflect the effects of a two-for-one common stock split distributed in May 2016. Refer to
Note 7
for additional details.
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(in millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
|
$381.7
|
|
|
|
$388.4
|
|
|
|
$393.3
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
411.6
|
|
|
401.3
|
|
|
388.1
|
|
|||
Other amortizations
|
(4.8
|
)
|
|
12.4
|
|
|
54.2
|
|
|||
Deferred tax expense and tax credits
|
84.6
|
|
|
114.2
|
|
|
55.2
|
|
|||
Equity income from unconsolidated investments, net
|
(39.6
|
)
|
|
(33.8
|
)
|
|
(40.4
|
)
|
|||
Distributions from equity method investments
|
28.3
|
|
|
30.6
|
|
|
36.4
|
|
|||
Equity component of allowance for funds used during construction
|
(42.3
|
)
|
|
(24.4
|
)
|
|
(23.1
|
)
|
|||
Asset valuation charges for Franklin County wind farm
|
86.4
|
|
|
—
|
|
|
—
|
|
|||
Other
|
0.8
|
|
|
15.7
|
|
|
2.0
|
|
|||
Other changes in assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable
|
(121.4
|
)
|
|
36.8
|
|
|
48.7
|
|
|||
Sales of accounts receivable
|
16.0
|
|
|
(17.0
|
)
|
|
(7.0
|
)
|
|||
Regulatory assets
|
(3.6
|
)
|
|
(104.5
|
)
|
|
(439.8
|
)
|
|||
Regulatory liabilities
|
(63.0
|
)
|
|
(67.8
|
)
|
|
10.8
|
|
|||
Deferred income taxes
|
102.4
|
|
|
94.6
|
|
|
138.4
|
|
|||
Pension and other benefit obligations
|
38.1
|
|
|
30.1
|
|
|
215.1
|
|
|||
Other
|
(15.6
|
)
|
|
(5.4
|
)
|
|
59.7
|
|
|||
Net cash flows from operating activities
|
859.6
|
|
|
871.2
|
|
|
891.6
|
|
|||
Cash flows used for investing activities:
|
|
|
|
|
|
||||||
Construction and acquisition expenditures:
|
|
|
|
|
|
||||||
Utility business
|
(1,142.7
|
)
|
|
(963.6
|
)
|
|
(838.9
|
)
|
|||
Alliant Energy Corporate Services, Inc. and non-regulated businesses
|
(54.1
|
)
|
|
(70.7
|
)
|
|
(63.9
|
)
|
|||
Proceeds from Minnesota electric and natural gas distribution asset sales
|
—
|
|
|
139.9
|
|
|
—
|
|
|||
Other
|
10.3
|
|
|
(24.8
|
)
|
|
(14.9
|
)
|
|||
Net cash flows used for investing activities
|
(1,186.5
|
)
|
|
(919.2
|
)
|
|
(917.7
|
)
|
|||
Cash flows from (used for) financing activities:
|
|
|
|
|
|
||||||
Common stock dividends
|
(266.5
|
)
|
|
(247.3
|
)
|
|
(225.8
|
)
|
|||
Proceeds from issuance of common stock, net
|
26.6
|
|
|
151.2
|
|
|
—
|
|
|||
Proceeds from issuance of long-term debt
|
800.0
|
|
|
250.7
|
|
|
812.9
|
|
|||
Payments to retire long-term debt
|
(313.4
|
)
|
|
(183.0
|
)
|
|
(358.5
|
)
|
|||
Net change in commercial paper
|
84.3
|
|
|
18.5
|
|
|
(138.1
|
)
|
|||
Other
|
(1.7
|
)
|
|
6.8
|
|
|
(17.3
|
)
|
|||
Net cash flows from (used for) financing activities
|
329.3
|
|
|
(3.1
|
)
|
|
73.2
|
|
|||
Net increase (decrease) in cash and cash equivalents
|
2.4
|
|
|
(51.1
|
)
|
|
47.1
|
|
|||
Cash and cash equivalents at beginning of period
|
5.8
|
|
|
56.9
|
|
|
9.8
|
|
|||
Cash and cash equivalents at end of period
|
|
$8.2
|
|
|
|
$5.8
|
|
|
|
$56.9
|
|
Supplemental cash flows information:
|
|
|
|
|
|
||||||
Cash (paid) refunded during the period for:
|
|
|
|
|
|
||||||
Interest, net of capitalized interest
|
|
($192.4
|
)
|
|
|
($184.8
|
)
|
|
|
($180.8
|
)
|
Income taxes, net
|
|
($9.8
|
)
|
|
|
$—
|
|
|
|
$5.3
|
|
Significant non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Accrued capital expenditures
|
|
$154.4
|
|
|
|
$148.3
|
|
|
|
$160.3
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
||||||||||||
|
|
|
|
|
|
|
Accumulated
|
|
Shares in
|
|
Alliant
|
||||||||||||
|
|
|
Additional
|
|
|
|
Other
|
|
Deferred
|
|
Energy
|
||||||||||||
|
Common
|
|
Paid-In
|
|
Retained
|
|
Comprehensive
|
|
Compensation
|
|
Common
|
||||||||||||
|
Stock
|
|
Capital
|
|
Earnings
|
|
Income (Loss)
|
|
Trust
|
|
Equity
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
2014:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance (a)
|
|
$2.2
|
|
|
|
$1,506.7
|
|
|
|
$1,780.7
|
|
|
|
($0.2
|
)
|
|
|
($8.0
|
)
|
|
|
$3,281.4
|
|
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
383.1
|
|
|
|
|
|
|
383.1
|
|
||||||||||
Common stock dividends ($1.02 per share) (a)
|
|
|
|
|
(225.8
|
)
|
|
|
|
|
|
(225.8
|
)
|
||||||||||
Other
|
|
|
1.3
|
|
|
|
|
|
|
(0.9
|
)
|
|
0.4
|
|
|||||||||
Other comprehensive loss, net of tax
|
|
|
|
|
|
|
(0.4
|
)
|
|
|
|
(0.4
|
)
|
||||||||||
Ending balance (a)
|
2.2
|
|
|
1,508.0
|
|
|
1,938.0
|
|
|
(0.6
|
)
|
|
(8.9
|
)
|
|
3,438.7
|
|
||||||
2015:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
378.2
|
|
|
|
|
|
|
378.2
|
|
||||||||||
Common stock dividends ($1.10 per share) (a)
|
|
|
|
|
(247.3
|
)
|
|
|
|
|
|
(247.3
|
)
|
||||||||||
Common stock issued, net (a)
|
0.1
|
|
|
151.1
|
|
|
|
|
|
|
|
|
151.2
|
|
|||||||||
Other
|
|
|
2.7
|
|
|
|
|
|
|
0.4
|
|
|
3.1
|
|
|||||||||
Other comprehensive income, net of tax
|
|
|
|
|
|
|
0.2
|
|
|
|
|
0.2
|
|
||||||||||
Ending balance (a)
|
2.3
|
|
|
1,661.8
|
|
|
2,068.9
|
|
|
(0.4
|
)
|
|
(8.5
|
)
|
|
3,724.1
|
|
||||||
2016:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
371.5
|
|
|
|
|
|
|
371.5
|
|
||||||||||
Common stock dividends ($1.175 per share) (a)
|
|
|
|
|
(266.5
|
)
|
|
|
|
|
|
(266.5
|
)
|
||||||||||
Common stock issued, net
|
|
|
26.6
|
|
|
|
|
|
|
|
|
26.6
|
|
||||||||||
Other
|
|
|
4.7
|
|
|
3.1
|
|
|
|
|
(1.5
|
)
|
|
6.3
|
|
||||||||
Ending balance
|
|
$2.3
|
|
|
|
$1,693.1
|
|
|
|
$2,177.0
|
|
|
|
($0.4
|
)
|
|
|
($10.0
|
)
|
|
|
$3,862.0
|
|
(a)
|
Amounts reflect the effects of a two-for-one common stock split distributed in May 2016
.
Refer to
Note 7
for additional details.
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(in millions)
|
||||||||||
Operating revenues:
|
|
|
|
|
|
||||||
Electric utility
|
|
$1,569.7
|
|
|
|
$1,503.8
|
|
|
|
$1,493.3
|
|
Gas utility
|
204.0
|
|
|
217.3
|
|
|
296.5
|
|
|||
Steam and other
|
46.7
|
|
|
53.4
|
|
|
58.3
|
|
|||
Total operating revenues
|
1,820.4
|
|
|
1,774.5
|
|
|
1,848.1
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Electric production fuel and purchased power
|
430.5
|
|
|
428.4
|
|
|
497.3
|
|
|||
Electric transmission service
|
359.7
|
|
|
328.2
|
|
|
323.4
|
|
|||
Cost of gas sold
|
111.0
|
|
|
123.3
|
|
|
185.5
|
|
|||
Other operation and maintenance
|
383.7
|
|
|
389.9
|
|
|
381.1
|
|
|||
Depreciation and amortization
|
210.8
|
|
|
207.2
|
|
|
197.5
|
|
|||
Taxes other than income taxes
|
53.9
|
|
|
55.6
|
|
|
54.1
|
|
|||
Total operating expenses
|
1,549.6
|
|
|
1,532.6
|
|
|
1,638.9
|
|
|||
Operating income
|
270.8
|
|
|
241.9
|
|
|
209.2
|
|
|||
Interest expense and other:
|
|
|
|
|
|
||||||
Interest expense
|
103.2
|
|
|
96.8
|
|
|
89.9
|
|
|||
Allowance for funds used during construction
|
(52.0
|
)
|
|
(28.2
|
)
|
|
(25.9
|
)
|
|||
Interest income and other
|
(0.3
|
)
|
|
(0.2
|
)
|
|
2.3
|
|
|||
Total interest expense and other
|
50.9
|
|
|
68.4
|
|
|
66.3
|
|
|||
Income before income taxes
|
219.9
|
|
|
173.5
|
|
|
142.9
|
|
|||
Income tax benefit
|
(5.9
|
)
|
|
(22.7
|
)
|
|
(48.9
|
)
|
|||
Net income
|
225.8
|
|
|
196.2
|
|
|
191.8
|
|
|||
Preferred dividend requirements
|
10.2
|
|
|
10.2
|
|
|
10.2
|
|
|||
Earnings available for common stock
|
|
$215.6
|
|
|
|
$186.0
|
|
|
|
$181.6
|
|
|
December 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$3.3
|
|
|
|
$4.5
|
|
Accounts receivable, less allowance for doubtful accounts
|
240.7
|
|
|
200.0
|
|
||
Production fuel, at weighted average cost
|
70.3
|
|
|
60.2
|
|
||
Gas stored underground, at weighted average cost
|
16.3
|
|
|
18.2
|
|
||
Materials and supplies, at weighted average cost
|
46.5
|
|
|
45.7
|
|
||
Regulatory assets
|
17.7
|
|
|
39.6
|
|
||
Other
|
27.7
|
|
|
28.2
|
|
||
Total current assets
|
422.5
|
|
|
396.4
|
|
||
Property, plant and equipment, net
|
5,435.6
|
|
|
4,925.1
|
|
||
Investments
|
0.8
|
|
|
19.6
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,441.1
|
|
|
1,363.0
|
|
||
Deferred charges and other
|
4.7
|
|
|
5.0
|
|
||
Total other assets
|
1,445.8
|
|
|
1,368.0
|
|
||
Total assets
|
|
$7,304.7
|
|
|
|
$6,709.1
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
|
$186.3
|
|
|
|
$197.2
|
|
Accounts payable to associated companies
|
43.3
|
|
|
37.7
|
|
||
Regulatory liabilities
|
149.6
|
|
|
130.9
|
|
||
Accrued taxes
|
53.8
|
|
|
67.6
|
|
||
Accrued interest
|
31.6
|
|
|
28.2
|
|
||
Other
|
57.2
|
|
|
69.5
|
|
||
Total current liabilities
|
521.8
|
|
|
531.1
|
|
||
Long-term debt, net
|
2,153.5
|
|
|
1,856.9
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,511.8
|
|
|
1,378.0
|
|
||
Regulatory liabilities
|
281.2
|
|
|
358.3
|
|
||
Pension and other benefit obligations
|
173.2
|
|
|
160.2
|
|
||
Other
|
214.2
|
|
|
229.3
|
|
||
Total other liabilities
|
2,180.4
|
|
|
2,125.8
|
|
||
Commitments and contingencies (
Note 16
)
|
|
|
|
||||
Equity:
|
|
|
|
||||
Interstate Power and Light Company common equity:
|
|
|
|
||||
Common stock - $2.50 par value - 24,000,000 shares authorized; 13,370,788 shares outstanding
|
33.4
|
|
|
33.4
|
|
||
Additional paid-in capital
|
1,597.8
|
|
|
1,407.8
|
|
||
Retained earnings
|
617.8
|
|
|
554.1
|
|
||
Total Interstate Power and Light Company common equity
|
2,249.0
|
|
|
1,995.3
|
|
||
Cumulative preferred stock
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
2,449.0
|
|
|
2,195.3
|
|
||
Total liabilities and equity
|
|
$7,304.7
|
|
|
|
$6,709.1
|
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(in millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
|
$225.8
|
|
|
|
$196.2
|
|
|
|
$191.8
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
210.8
|
|
|
207.2
|
|
|
197.5
|
|
|||
Deferred tax expense (benefit) and tax credits
|
35.6
|
|
|
28.9
|
|
|
(11.5
|
)
|
|||
Equity component of allowance for funds used during construction
|
(35.2
|
)
|
|
(18.6
|
)
|
|
(17.1
|
)
|
|||
Other
|
2.9
|
|
|
19.5
|
|
|
11.3
|
|
|||
Other changes in assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable
|
(59.7
|
)
|
|
20.4
|
|
|
43.3
|
|
|||
Sales of accounts receivable
|
16.0
|
|
|
(17.0
|
)
|
|
(7.0
|
)
|
|||
Regulatory assets
|
(54.7
|
)
|
|
(76.3
|
)
|
|
(272.9
|
)
|
|||
Accounts payable
|
8.0
|
|
|
(42.7
|
)
|
|
18.8
|
|
|||
Regulatory liabilities
|
(67.3
|
)
|
|
(75.5
|
)
|
|
(18.9
|
)
|
|||
Deferred income taxes
|
97.7
|
|
|
82.1
|
|
|
140.4
|
|
|||
Pension and other benefit obligations
|
13.1
|
|
|
17.8
|
|
|
93.8
|
|
|||
Other
|
(31.1
|
)
|
|
43.0
|
|
|
36.6
|
|
|||
Net cash flows from operating activities
|
361.9
|
|
|
385.0
|
|
|
406.1
|
|
|||
Cash flows used for investing activities:
|
|
|
|
|
|
||||||
Utility construction and acquisition expenditures
|
(689.7
|
)
|
|
(619.3
|
)
|
|
(526.0
|
)
|
|||
Proceeds from Minnesota electric and natural gas distribution asset sales
|
—
|
|
|
139.9
|
|
|
—
|
|
|||
Other
|
(3.9
|
)
|
|
(32.5
|
)
|
|
(26.7
|
)
|
|||
Net cash flows used for investing activities
|
(693.6
|
)
|
|
(511.9
|
)
|
|
(552.7
|
)
|
|||
Cash flows from financing activities:
|
|
|
|
|
|
||||||
Common stock dividends
|
(151.9
|
)
|
|
(140.0
|
)
|
|
(140.0
|
)
|
|||
Capital contributions from parent
|
190.0
|
|
|
165.0
|
|
|
90.0
|
|
|||
Proceeds from issuance of long-term debt
|
300.0
|
|
|
250.0
|
|
|
250.0
|
|
|||
Payments to retire long-term debt
|
—
|
|
|
(150.0
|
)
|
|
(38.4
|
)
|
|||
Other
|
(7.6
|
)
|
|
1.1
|
|
|
(14.1
|
)
|
|||
Net cash flows from financing activities
|
330.5
|
|
|
126.1
|
|
|
147.5
|
|
|||
Net increase (decrease) in cash and cash equivalents
|
(1.2
|
)
|
|
(0.8
|
)
|
|
0.9
|
|
|||
Cash and cash equivalents at beginning of period
|
4.5
|
|
|
5.3
|
|
|
4.4
|
|
|||
Cash and cash equivalents at end of period
|
|
$3.3
|
|
|
|
$4.5
|
|
|
|
$5.3
|
|
Supplemental cash flows information:
|
|
|
|
|
|
||||||
Cash (paid) refunded during the period for:
|
|
|
|
|
|
||||||
Interest
|
|
($99.7
|
)
|
|
|
($93.9
|
)
|
|
|
($89.8
|
)
|
Income taxes, net
|
|
($11.1
|
)
|
|
|
$19.3
|
|
|
|
$20.1
|
|
Significant non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Accrued capital expenditures
|
|
$53.8
|
|
|
|
$77.0
|
|
|
|
$113.2
|
|
|
|
|
|
|
|
|
Total
|
||||||||
|
|
|
Additional
|
|
|
|
IPL
|
||||||||
|
Common
|
|
Paid-In
|
|
Retained
|
|
Common
|
||||||||
|
Stock
|
|
Capital
|
|
Earnings
|
|
Equity
|
||||||||
|
(in millions)
|
||||||||||||||
2014:
|
|
|
|
|
|
|
|
||||||||
Beginning balance
|
|
$33.4
|
|
|
|
$1,152.8
|
|
|
|
$461.9
|
|
|
|
$1,648.1
|
|
Earnings available for common stock
|
|
|
|
|
181.6
|
|
|
181.6
|
|
||||||
Common stock dividends
|
|
|
|
|
(140.0
|
)
|
|
(140.0
|
)
|
||||||
Capital contribution from parent
|
|
|
90.0
|
|
|
|
|
90.0
|
|
||||||
Other
|
|
|
|
|
4.6
|
|
|
4.6
|
|
||||||
Ending balance
|
33.4
|
|
|
1,242.8
|
|
|
508.1
|
|
|
1,784.3
|
|
||||
2015:
|
|
|
|
|
|
|
|
||||||||
Earnings available for common stock
|
|
|
|
|
186.0
|
|
|
186.0
|
|
||||||
Common stock dividends
|
|
|
|
|
(140.0
|
)
|
|
(140.0
|
)
|
||||||
Capital contribution from parent
|
|
|
165.0
|
|
|
|
|
165.0
|
|
||||||
Ending balance
|
33.4
|
|
|
1,407.8
|
|
|
554.1
|
|
|
1,995.3
|
|
||||
2016:
|
|
|
|
|
|
|
|
||||||||
Earnings available for common stock
|
|
|
|
|
215.6
|
|
|
215.6
|
|
||||||
Common stock dividends
|
|
|
|
|
(151.9
|
)
|
|
(151.9
|
)
|
||||||
Capital contribution from parent
|
|
|
190.0
|
|
|
|
|
190.0
|
|
||||||
Ending balance
|
|
$33.4
|
|
|
|
$1,597.8
|
|
|
|
$617.8
|
|
|
|
$2,249.0
|
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(in millions)
|
||||||||||
Operating revenues:
|
|
|
|
|
|
||||||
Electric utility
|
|
$1,305.8
|
|
|
|
$1,266.7
|
|
|
|
$1,220.3
|
|
Gas utility
|
151.4
|
|
|
163.9
|
|
|
221.0
|
|
|||
Other
|
1.9
|
|
|
4.5
|
|
|
7.8
|
|
|||
Total operating revenues
|
1,459.1
|
|
|
1,435.1
|
|
|
1,449.1
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Electric production fuel and purchased power
|
423.5
|
|
|
409.3
|
|
|
379.9
|
|
|||
Electric transmission service
|
168.2
|
|
|
157.1
|
|
|
124.1
|
|
|||
Cost of gas sold
|
83.3
|
|
|
95.8
|
|
|
142.3
|
|
|||
Other operation and maintenance
|
219.8
|
|
|
235.4
|
|
|
277.2
|
|
|||
Depreciation and amortization
|
192.5
|
|
|
184.3
|
|
|
181.2
|
|
|||
Taxes other than income taxes
|
44.8
|
|
|
44.5
|
|
|
43.4
|
|
|||
Total operating expenses
|
1,132.1
|
|
|
1,126.4
|
|
|
1,148.1
|
|
|||
Operating income
|
327.0
|
|
|
308.7
|
|
|
301.0
|
|
|||
Interest expense and other:
|
|
|
|
|
|
||||||
Interest expense
|
91.4
|
|
|
92.4
|
|
|
86.4
|
|
|||
Equity income from unconsolidated investments
|
(39.8
|
)
|
|
(35.1
|
)
|
|
(42.8
|
)
|
|||
Allowance for funds used during construction
|
(10.5
|
)
|
|
(8.7
|
)
|
|
(8.9
|
)
|
|||
Interest income and other
|
(0.2
|
)
|
|
(0.4
|
)
|
|
(0.1
|
)
|
|||
Total interest expense and other
|
40.9
|
|
|
48.2
|
|
|
34.6
|
|
|||
Income before income taxes
|
286.1
|
|
|
260.5
|
|
|
266.4
|
|
|||
Income taxes
|
93.3
|
|
|
82.9
|
|
|
85.3
|
|
|||
Net income
|
192.8
|
|
|
177.6
|
|
|
181.1
|
|
|||
Net income attributable to noncontrolling interest
|
2.4
|
|
|
1.3
|
|
|
0.7
|
|
|||
Earnings available for common stock
|
|
$190.4
|
|
|
|
$176.3
|
|
|
|
$180.4
|
|
|
December 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$4.2
|
|
|
|
$0.4
|
|
Accounts receivable, less allowance for doubtful accounts
|
226.3
|
|
|
185.4
|
|
||
Production fuel, at weighted average cost
|
27.8
|
|
|
38.6
|
|
||
Gas stored underground, at weighted average cost
|
21.3
|
|
|
25.1
|
|
||
Materials and supplies, at weighted average cost
|
36.3
|
|
|
33.5
|
|
||
Regulatory assets
|
40.1
|
|
|
80.6
|
|
||
Prepaid gross receipts tax
|
39.8
|
|
|
39.2
|
|
||
Other
|
20.7
|
|
|
20.7
|
|
||
Total current assets
|
416.5
|
|
|
423.5
|
|
||
Property, plant and equipment, net
|
4,426.7
|
|
|
4,103.7
|
|
||
Investments:
|
|
|
|
||||
Investment in American Transmission Company LLC
|
—
|
|
|
293.3
|
|
||
Other
|
13.7
|
|
|
15.4
|
|
||
Total investments
|
13.7
|
|
|
308.7
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
416.2
|
|
|
425.4
|
|
||
Deferred charges and other
|
17.2
|
|
|
9.1
|
|
||
Total other assets
|
433.4
|
|
|
434.5
|
|
||
Total assets
|
|
$5,290.3
|
|
|
|
$5,270.4
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Commercial paper
|
|
$52.3
|
|
|
|
$19.9
|
|
Accounts payable
|
192.9
|
|
|
136.0
|
|
||
Accounts payable to associated companies
|
34.6
|
|
|
21.6
|
|
||
Regulatory liabilities
|
36.6
|
|
|
56.2
|
|
||
Accrued interest
|
23.6
|
|
|
23.7
|
|
||
Other
|
54.7
|
|
|
79.5
|
|
||
Total current liabilities
|
394.7
|
|
|
336.9
|
|
||
Long-term debt, net
|
1,535.2
|
|
|
1,533.9
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
971.6
|
|
|
1,005.4
|
|
||
Regulatory liabilities
|
213.6
|
|
|
192.3
|
|
||
Capital lease obligations - Sheboygan Falls Energy Facility
|
77.2
|
|
|
83.6
|
|
||
Pension and other benefit obligations
|
207.8
|
|
|
188.7
|
|
||
Other
|
159.4
|
|
|
162.0
|
|
||
Total other liabilities
|
1,629.6
|
|
|
1,632.0
|
|
||
Commitments and contingencies (
Note 16
)
|
|
|
|
||||
Equity:
|
|
|
|
||||
Wisconsin Power and Light Company common equity:
|
|
|
|
||||
Common stock - $5 par value - 18,000,000 shares authorized; 13,236,601 shares outstanding
|
66.2
|
|
|
66.2
|
|
||
Additional paid-in capital
|
1,019.0
|
|
|
959.0
|
|
||
Retained earnings
|
645.6
|
|
|
731.1
|
|
||
Total Wisconsin Power and Light Company common equity
|
1,730.8
|
|
|
1,756.3
|
|
||
Noncontrolling interest
|
—
|
|
|
11.3
|
|
||
Total equity
|
1,730.8
|
|
|
1,767.6
|
|
||
Total liabilities and equity
|
|
$5,290.3
|
|
|
|
$5,270.4
|
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(in millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
|
$192.8
|
|
|
|
$177.6
|
|
|
|
$181.1
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
192.5
|
|
|
184.3
|
|
|
181.2
|
|
|||
Other amortizations
|
(8.7
|
)
|
|
5.3
|
|
|
47.3
|
|
|||
Deferred tax expense and tax credits
|
114.5
|
|
|
77.6
|
|
|
82.6
|
|
|||
Equity income from unconsolidated investments
|
(39.8
|
)
|
|
(35.1
|
)
|
|
(42.8
|
)
|
|||
Distributions from equity method investments
|
28.3
|
|
|
30.6
|
|
|
36.4
|
|
|||
Other
|
(6.3
|
)
|
|
(5.7
|
)
|
|
(7.2
|
)
|
|||
Other changes in assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable
|
(47.6
|
)
|
|
3.7
|
|
|
2.2
|
|
|||
Regulatory assets
|
51.1
|
|
|
(28.2
|
)
|
|
(166.9
|
)
|
|||
Pension and other benefit obligations
|
19.1
|
|
|
8.3
|
|
|
92.0
|
|
|||
Other
|
25.5
|
|
|
31.4
|
|
|
18.5
|
|
|||
Net cash flows from operating activities
|
521.4
|
|
|
449.8
|
|
|
424.4
|
|
|||
Cash flows used for investing activities:
|
|
|
|
|
|
||||||
Utility construction and acquisition expenditures
|
(453.0
|
)
|
|
(344.3
|
)
|
|
(312.9
|
)
|
|||
Other
|
(25.9
|
)
|
|
(13.9
|
)
|
|
(7.2
|
)
|
|||
Net cash flows used for investing activities
|
(478.9
|
)
|
|
(358.2
|
)
|
|
(320.1
|
)
|
|||
Cash flows used for financing activities:
|
|
|
|
|
|
||||||
Common stock dividends
|
(135.0
|
)
|
|
(126.9
|
)
|
|
(118.7
|
)
|
|||
Capital contribution from parent
|
60.0
|
|
|
—
|
|
|
—
|
|
|||
Proceeds from issuance of long-term debt
|
—
|
|
|
—
|
|
|
250.0
|
|
|||
Net change in commercial paper
|
32.4
|
|
|
19.9
|
|
|
(183.7
|
)
|
|||
Other
|
3.9
|
|
|
(30.9
|
)
|
|
(5.7
|
)
|
|||
Net cash flows used for financing activities
|
(38.7
|
)
|
|
(137.9
|
)
|
|
(58.1
|
)
|
|||
Net increase (decrease) in cash and cash equivalents
|
3.8
|
|
|
(46.3
|
)
|
|
46.2
|
|
|||
Cash and cash equivalents at beginning of period
|
0.4
|
|
|
46.7
|
|
|
0.5
|
|
|||
Cash and cash equivalents at end of period
|
|
$4.2
|
|
|
|
$0.4
|
|
|
|
$46.7
|
|
Supplemental cash flows information:
|
|
|
|
|
|
||||||
Cash (paid) refunded during the period for:
|
|
|
|
|
|
||||||
Interest
|
|
($91.5
|
)
|
|
|
($93.1
|
)
|
|
|
($84.6
|
)
|
Income taxes, net
|
|
$27.8
|
|
|
|
($7.4
|
)
|
|
|
($12.2
|
)
|
Significant non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Accrued capital expenditures
|
|
$93.1
|
|
|
|
$55.2
|
|
|
|
$38.4
|
|
Transfer of investment in ATC and tax liability to ATI
|
|
($163.6
|
)
|
|
|
$—
|
|
|
|
$—
|
|
|
Total WPL Common Equity
|
|
|
|
|
||||||||||||||
|
|
|
Additional
|
|
|
|
|
|
|
||||||||||
|
Common
|
|
Paid-In
|
|
Retained
|
|
Noncontrolling
|
|
Total
|
||||||||||
|
Stock
|
|
Capital
|
|
Earnings
|
|
Interest
|
|
Equity
|
||||||||||
|
(in millions)
|
||||||||||||||||||
2014:
|
|
|
|
|
|
|
|
|
|
||||||||||
Beginning balance
|
|
$66.2
|
|
|
|
$959.0
|
|
|
|
$622.2
|
|
|
|
$—
|
|
|
|
$1,647.4
|
|
Net income
|
|
|
|
|
180.4
|
|
|
0.7
|
|
|
181.1
|
|
|||||||
Common stock dividends
|
|
|
|
|
(118.7
|
)
|
|
|
|
(118.7
|
)
|
||||||||
Contributions from noncontrolling interest
|
|
|
|
|
|
|
8.6
|
|
|
8.6
|
|
||||||||
Distributions to noncontrolling interest
|
|
|
|
|
|
|
(0.8
|
)
|
|
(0.8
|
)
|
||||||||
Other
|
|
|
|
|
(2.2
|
)
|
|
|
|
(2.2
|
)
|
||||||||
Ending balance
|
66.2
|
|
|
959.0
|
|
|
681.7
|
|
|
8.5
|
|
|
1,715.4
|
|
|||||
2015:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income
|
|
|
|
|
176.3
|
|
|
1.3
|
|
|
177.6
|
|
|||||||
Common stock dividends
|
|
|
|
|
(126.9
|
)
|
|
|
|
(126.9
|
)
|
||||||||
Contributions from noncontrolling interest
|
|
|
|
|
|
|
3.4
|
|
|
3.4
|
|
||||||||
Distributions to noncontrolling interest
|
|
|
|
|
|
|
(1.9
|
)
|
|
(1.9
|
)
|
||||||||
Ending balance
|
66.2
|
|
|
959.0
|
|
|
731.1
|
|
|
11.3
|
|
|
1,767.6
|
|
|||||
2016:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income
|
|
|
|
|
190.4
|
|
|
2.4
|
|
|
192.8
|
|
|||||||
Common stock dividends
|
|
|
|
|
(135.0
|
)
|
|
|
|
(135.0
|
)
|
||||||||
Capital contribution from parent
|
|
|
60.0
|
|
|
|
|
|
|
60.0
|
|
||||||||
Contributions from noncontrolling interest
|
|
|
|
|
|
|
11.5
|
|
|
11.5
|
|
||||||||
Distributions to noncontrolling interest
|
|
|
|
|
|
|
(2.5
|
)
|
|
(2.5
|
)
|
||||||||
Transfer of investment in ATC to ATI
|
|
|
|
|
(140.9
|
)
|
|
(22.7
|
)
|
|
(163.6
|
)
|
|||||||
Ending balance
|
|
$66.2
|
|
|
|
$1,019.0
|
|
|
|
$645.6
|
|
|
|
$—
|
|
|
|
$1,730.8
|
|
|
IPL
|
|
WPL
|
||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
Electric - generation
|
3.5%
|
|
3.6%
|
|
3.6%
|
|
3.1%
|
|
3.2%
|
|
3.2%
|
Electric - distribution
|
2.4%
|
|
2.4%
|
|
2.5%
|
|
2.6%
|
|
2.7%
|
|
2.7%
|
Electric - other
|
4.2%
|
|
4.0%
|
|
4.0%
|
|
4.7%
|
|
4.5%
|
|
5.9%
|
Gas
|
3.3%
|
|
3.2%
|
|
3.3%
|
|
2.5%
|
|
2.5%
|
|
2.5%
|
Other
|
3.9%
|
|
3.9%
|
|
4.3%
|
|
5.9%
|
|
6.0%
|
|
6.0%
|
(a)
|
In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a
10.3%
return on common equity for the calculation of AFUDC related to the construction of such facility.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Tax-related
|
|
$1,055.6
|
|
|
|
$987.7
|
|
|
|
$1,022.4
|
|
|
|
$958.2
|
|
|
|
$33.2
|
|
|
|
$29.5
|
|
Pension and OPEB costs
|
578.7
|
|
|
579.5
|
|
|
294.0
|
|
|
298.1
|
|
|
284.7
|
|
|
281.4
|
|
||||||
AROs
|
105.9
|
|
|
92.4
|
|
|
64.3
|
|
|
50.8
|
|
|
41.6
|
|
|
41.6
|
|
||||||
WPL’s EGUs retired early
|
41.4
|
|
|
45.0
|
|
|
—
|
|
|
—
|
|
|
41.4
|
|
|
45.0
|
|
||||||
Derivatives
|
30.7
|
|
|
70.6
|
|
|
10.0
|
|
|
28.2
|
|
|
20.7
|
|
|
42.4
|
|
||||||
Emission allowances
|
26.2
|
|
|
26.9
|
|
|
26.2
|
|
|
26.9
|
|
|
—
|
|
|
—
|
|
||||||
Commodity cost recovery
|
6.0
|
|
|
35.9
|
|
|
0.3
|
|
|
2.8
|
|
|
5.7
|
|
|
33.1
|
|
||||||
Other
|
70.6
|
|
|
70.6
|
|
|
41.6
|
|
|
37.6
|
|
|
29.0
|
|
|
33.0
|
|
||||||
|
|
$1,915.1
|
|
|
|
$1,908.6
|
|
|
|
$1,458.8
|
|
|
|
$1,402.6
|
|
|
|
$456.3
|
|
|
|
$506.0
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Cost of removal obligations
|
|
$411.6
|
|
|
|
$406.0
|
|
|
|
$269.4
|
|
|
|
$260.4
|
|
|
|
$142.2
|
|
|
|
$145.6
|
|
IPL’s tax benefit riders
|
83.5
|
|
|
159.2
|
|
|
83.5
|
|
|
159.2
|
|
|
—
|
|
|
—
|
|
||||||
Electric transmission cost recovery
|
72.0
|
|
|
43.5
|
|
|
35.7
|
|
|
21.9
|
|
|
36.3
|
|
|
21.6
|
|
||||||
Derivatives
|
31.5
|
|
|
8.5
|
|
|
12.1
|
|
|
6.7
|
|
|
19.4
|
|
|
1.8
|
|
||||||
Commodity cost recovery
|
30.8
|
|
|
37.6
|
|
|
17.8
|
|
|
23.5
|
|
|
13.0
|
|
|
14.1
|
|
||||||
Energy efficiency cost recovery
|
20.5
|
|
|
48.3
|
|
|
—
|
|
|
—
|
|
|
20.5
|
|
|
48.3
|
|
||||||
Other
|
31.1
|
|
|
34.6
|
|
|
12.3
|
|
|
17.5
|
|
|
18.8
|
|
|
17.1
|
|
||||||
|
|
$681.0
|
|
|
|
$737.7
|
|
|
|
$430.8
|
|
|
|
$489.2
|
|
|
|
$250.2
|
|
|
|
$248.5
|
|
Electric tax benefit rider credits
|
|
$64
|
|
Gas tax benefit rider credits
|
12
|
|
|
|
|
$76
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
Credit to IPL’s Iowa retail electric customers’ bills with reduction to electric revenues (based on customers’ KWh usage)
|
|
$64
|
|
|
|
$72
|
|
|
|
$85
|
|
Income tax benefit resulting from decreased taxable income caused by credits
|
27
|
|
|
30
|
|
|
35
|
|
|||
Income tax benefit representing tax benefits realized from electric tax benefit rider
|
37
|
|
|
42
|
|
|
50
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
Revenue requirement adjustment
|
|
$14
|
|
|
|
$14
|
|
|
|
$15
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
Credit to IPL’s Iowa retail gas customers’ bills with reduction to gas revenues (based on a fixed amount per day)
|
|
$12
|
|
|
|
$12
|
|
|
|
$12
|
|
Income tax benefit resulting from decreased taxable income caused by credits
|
5
|
|
|
5
|
|
|
5
|
|
|||
Income tax benefit representing tax benefits realized from gas tax benefit rider
|
7
|
|
|
7
|
|
|
7
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
Billing credits to reduce retail electric customers’ bills
|
|
$9
|
|
|
|
$24
|
|
|
|
$72
|
|
|
|
Retail Electric
|
|
Deferral of Over (Under)
|
|
Timing of Refunds To or
|
||||||
Year
|
|
Rate Increase
|
|
Collected Fuel-related Costs
|
|
Collections From Customers
|
||||||
2016
|
|
|
$7
|
|
|
1%
|
|
|
$9
|
|
|
Pending
|
2015
|
|
39
|
|
|
4%
|
|
10
|
|
|
2016
|
||
2014
|
|
19
|
|
|
2%
|
|
(28
|
)
|
|
2016
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Utility:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Electric plant:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Generation in service
|
|
$5,866.9
|
|
|
|
$5,643.7
|
|
|
|
$2,916.8
|
|
|
|
$3,011.6
|
|
|
|
$2,950.1
|
|
|
|
$2,632.1
|
|
Distribution in service
|
4,739.2
|
|
|
4,489.9
|
|
|
2,589.3
|
|
|
2,447.9
|
|
|
2,149.9
|
|
|
2,042.0
|
|
||||||
Other in service
|
329.1
|
|
|
311.3
|
|
|
223.5
|
|
|
212.2
|
|
|
105.6
|
|
|
99.1
|
|
||||||
Anticipated to be retired early (a)
|
108.3
|
|
|
—
|
|
|
108.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total electric plant
|
11,043.5
|
|
|
10,444.9
|
|
|
5,837.9
|
|
|
5,671.7
|
|
|
5,205.6
|
|
|
4,773.2
|
|
||||||
Gas plant in service
|
1,107.6
|
|
|
1,018.3
|
|
|
556.7
|
|
|
513.6
|
|
|
550.9
|
|
|
504.7
|
|
||||||
Other plant in service
|
549.3
|
|
|
530.6
|
|
|
313.0
|
|
|
296.0
|
|
|
236.3
|
|
|
234.6
|
|
||||||
Accumulated depreciation
|
(4,135.7
|
)
|
|
(3,939.6
|
)
|
|
(2,258.3
|
)
|
|
(2,152.8
|
)
|
|
(1,877.4
|
)
|
|
(1,786.8
|
)
|
||||||
Net plant
|
8,564.7
|
|
|
8,054.2
|
|
|
4,449.3
|
|
|
4,328.5
|
|
|
4,115.4
|
|
|
3,725.7
|
|
||||||
Leased Sheboygan Falls Energy Facility, net (b)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
52.4
|
|
|
58.6
|
|
||||||
Construction work in progress
|
1,226.8
|
|
|
897.5
|
|
|
968.1
|
|
|
578.2
|
|
|
258.7
|
|
|
319.3
|
|
||||||
Other, net
|
18.4
|
|
|
18.5
|
|
|
18.2
|
|
|
18.4
|
|
|
0.2
|
|
|
0.1
|
|
||||||
Total utility
|
9,809.9
|
|
|
8,970.2
|
|
|
5,435.6
|
|
|
4,925.1
|
|
|
4,426.7
|
|
|
4,103.7
|
|
||||||
Non-regulated and other:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-regulated Generation, net (c)
|
135.0
|
|
|
229.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Corporate Services and other, net (d)
|
334.3
|
|
|
319.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total non-regulated and other
|
469.3
|
|
|
548.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total property, plant and equipment
|
|
$10,279.2
|
|
|
|
$9,519.1
|
|
|
|
$5,435.6
|
|
|
|
$4,925.1
|
|
|
|
$4,426.7
|
|
|
|
$4,103.7
|
|
(a)
|
In 2016, IPL received approval from MISO to retire Sutherland Unit 3 and currently anticipates retiring this EGU by June 30, 2017. The recovery of the remaining net book value of this EGU is expected to be addressed in IPL’s next retail electric base rate case, which is currently expected to be filed in the second quarter of 2017.
|
(b)
|
Less accumulated amortization of
$71.4 million
and
$65.2 million
for WPL as of
December 31, 2016
and
2015
, respectively. The Sheboygan Falls Energy Facility is eliminated from WPL upon consolidation and is included in the “Non-regulated Generation, net” line within Alliant Energy’s consolidated property, plant and equipment.
|
(c)
|
Less accumulated depreciation of
$46.5 million
and
$59.0 million
for Alliant Energy as of
December 31, 2016
and
2015
, respectively.
|
(d)
|
Less accumulated depreciation of
$272.0 million
and
$252.9 million
for Alliant Energy as of
December 31, 2016
and
2015
, respectively.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
||||||||||||||||||
Equity
|
|
$42.3
|
|
|
|
$24.4
|
|
|
|
$23.1
|
|
|
|
$35.2
|
|
|
|
$18.6
|
|
|
|
$17.1
|
|
|
|
$7.1
|
|
|
|
$5.8
|
|
|
|
$6.0
|
|
Debt
|
20.2
|
|
|
12.5
|
|
|
11.7
|
|
|
16.8
|
|
|
9.6
|
|
|
8.8
|
|
|
3.4
|
|
|
2.9
|
|
|
2.9
|
|
|||||||||
|
|
$62.5
|
|
|
|
$36.9
|
|
|
|
$34.8
|
|
|
|
$52.0
|
|
|
|
$28.2
|
|
|
|
$25.9
|
|
|
|
$10.5
|
|
|
|
$8.7
|
|
|
|
$8.9
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
IPL:
|
|
|
|
|
|
||||||
Marshalltown
|
|
$43.8
|
|
|
|
$20.7
|
|
|
|
$3.7
|
|
Environmental controls - Ottumwa Unit 1
|
—
|
|
|
—
|
|
|
10.6
|
|
|||
Other
|
8.2
|
|
|
7.5
|
|
|
11.6
|
|
|||
|
52.0
|
|
|
28.2
|
|
|
25.9
|
|
|||
WPL:
|
|
|
|
|
|
||||||
Environmental controls - Edgewater Unit 5
|
4.3
|
|
|
5.1
|
|
|
2.7
|
|
|||
Other
|
6.2
|
|
|
3.6
|
|
|
6.2
|
|
|||
|
10.5
|
|
|
8.7
|
|
|
8.9
|
|
|||
Alliant Energy
|
|
$62.5
|
|
|
|
$36.9
|
|
|
|
$34.8
|
|
|
|
|
|
|
Accumulated
|
|
Construction
|
|||||||
|
Ownership
|
|
Electric
|
|
Provision for
|
|
Work in
|
|||||||
|
Interest %
|
|
Plant
|
|
Depreciation
|
|
Progress
|
|||||||
IPL
|
|
|
|
|
|
|
|
|||||||
Ottumwa Unit 1
|
48.0
|
%
|
|
|
$489.4
|
|
|
|
$137.3
|
|
|
|
$11.1
|
|
George Neal Unit 4
|
25.7
|
%
|
|
185.2
|
|
|
80.8
|
|
|
1.6
|
|
|||
George Neal Unit 3
|
28.0
|
%
|
|
150.7
|
|
|
49.1
|
|
|
0.3
|
|
|||
Louisa Unit 1
|
4.0
|
%
|
|
36.5
|
|
|
21.8
|
|
|
0.6
|
|
|||
|
|
|
861.8
|
|
|
289.0
|
|
|
13.6
|
|
||||
WPL
|
|
|
|
|
|
|
|
|||||||
Columbia Units 1-2
|
46.2
|
%
|
|
640.2
|
|
|
185.0
|
|
|
51.0
|
|
|||
Edgewater Unit 4
|
68.2
|
%
|
|
99.4
|
|
|
58.4
|
|
|
0.2
|
|
|||
|
|
|
739.6
|
|
|
243.4
|
|
|
51.2
|
|
||||
Alliant Energy
|
|
|
|
$1,601.4
|
|
|
|
$532.4
|
|
|
|
$64.8
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Customer
|
|
$111.7
|
|
|
|
$93.8
|
|
|
|
$—
|
|
|
|
$4.6
|
|
|
|
$104.4
|
|
|
|
$81.5
|
|
Unbilled utility revenues
|
90.2
|
|
|
83.1
|
|
|
—
|
|
|
1.2
|
|
|
90.2
|
|
|
81.9
|
|
||||||
Deferred proceeds
|
211.1
|
|
|
172.0
|
|
|
211.1
|
|
|
172.0
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
89.0
|
|
|
53.5
|
|
|
30.7
|
|
|
22.8
|
|
|
38.8
|
|
|
25.7
|
|
||||||
Allowance for doubtful accounts
|
(8.7
|
)
|
|
(4.8
|
)
|
|
(1.1
|
)
|
|
(0.6
|
)
|
|
(7.1
|
)
|
|
(3.7
|
)
|
||||||
|
|
$493.3
|
|
|
|
$397.6
|
|
|
|
$240.7
|
|
|
|
$200.0
|
|
|
|
$226.3
|
|
|
|
$185.4
|
|
|
Maximum
|
|
Average
|
||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
Outstanding aggregate cash proceeds
|
$172.0
|
|
$137.0
|
|
$150.0
|
|
$73.2
|
|
$46.7
|
|
$46.4
|
|
2016
|
|
2015
|
Customer accounts receivable
|
$157.6
|
|
$109.7
|
Unbilled utility revenues
|
90.4
|
|
71.3
|
Other receivables
|
0.1
|
|
0.1
|
Receivables sold to third party
|
248.1
|
|
181.1
|
Less: cash proceeds (a)
|
21.0
|
|
5.0
|
Deferred proceeds
|
227.1
|
|
176.1
|
Less: allowance for doubtful accounts
|
16.0
|
|
4.1
|
Fair value of deferred proceeds
|
$211.1
|
|
$172.0
|
Outstanding receivables past due
|
$68.0
|
|
$18.0
|
(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
|
|
2014
|
Collections reinvested in receivables
|
$1,818.1
|
|
$1,812.9
|
|
$1,997.9
|
Write-offs, net of recoveries
|
4.8
|
|
8.8
|
|
11.4
|
|
Ownership Interest at
|
|
Carrying Value at December 31,
|
|
Equity (Income) / Loss
|
||||||||||||||||
|
December 31, 2016
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2014
|
||||||||||
Alliant Energy
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ATC (a)
|
16%
|
|
|
$317.6
|
|
|
|
$293.3
|
|
|
|
($39.1
|
)
|
|
|
($34.2
|
)
|
|
|
($41.9
|
)
|
Other
|
Various
|
|
8.4
|
|
|
9.6
|
|
|
(0.5
|
)
|
|
0.4
|
|
|
1.5
|
|
|||||
|
|
|
|
$326.0
|
|
|
|
$302.9
|
|
|
|
($39.6
|
)
|
|
|
($33.8
|
)
|
|
|
($40.4
|
)
|
WPL
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ATC
|
—%
|
|
|
$—
|
|
|
|
$293.3
|
|
|
|
($39.1
|
)
|
|
|
($34.2
|
)
|
|
|
($41.9
|
)
|
Wisconsin River Power Company
|
50%
|
|
7.7
|
|
|
8.7
|
|
|
(0.7
|
)
|
|
(0.9
|
)
|
|
(0.9
|
)
|
|||||
|
|
|
|
$7.7
|
|
|
|
$302.0
|
|
|
|
($39.8
|
)
|
|
|
($35.1
|
)
|
|
|
($42.8
|
)
|
(a)
|
Alliant Energy currently has the ability to exercise significant influence over ATC’s financial and operating policies through its participation on ATC’s Board of Directors. Refer to
Note 18
for information regarding related party transactions with ATC.
|
|
Alliant Energy
|
|
WPL
|
||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
||||||||||||
Operating revenues
|
|
$658
|
|
|
|
$624
|
|
|
|
$643
|
|
|
|
$658
|
|
|
|
$624
|
|
|
|
$643
|
|
Operating income
|
331
|
|
|
299
|
|
|
330
|
|
|
331
|
|
|
299
|
|
|
330
|
|
||||||
Net income
|
232
|
|
|
186
|
|
|
240
|
|
|
234
|
|
|
202
|
|
|
240
|
|
||||||
As of December 31:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Current assets
|
82
|
|
|
88
|
|
|
|
|
6
|
|
|
87
|
|
|
|
||||||||
Non-current assets
|
4,340
|
|
|
3,987
|
|
|
|
|
19
|
|
|
3,977
|
|
|
|
||||||||
Current liabilities
|
498
|
|
|
332
|
|
|
|
|
3
|
|
|
332
|
|
|
|
||||||||
Non-current liabilities
|
2,144
|
|
|
2,052
|
|
|
|
|
7
|
|
|
2,052
|
|
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Cash surrender value
|
$10.6
|
|
$42.3
|
|
$—
|
|
$18.9
|
|
$5.8
|
|
$6.4
|
|
2016
|
|
2015
|
|
2014
|
|||
Shares outstanding, January 1
|
226,918,432
|
|
|
221,871,360
|
|
|
221,887,338
|
|
At-the-market offering program
|
—
|
|
|
4,373,234
|
|
|
—
|
|
Shareowner Direct Plan issuances
|
732,814
|
|
|
606,010
|
|
|
—
|
|
Equity-based compensation plans (
Note 12(b)
)
|
22,408
|
|
|
112,756
|
|
|
71,094
|
|
Other
|
—
|
|
|
(44,928
|
)
|
|
(87,072
|
)
|
Shares outstanding, December 31
|
227,673,654
|
|
|
226,918,432
|
|
|
221,871,360
|
|
Series
|
|
Liquidation Preference/Stated Value
|
|
Shares Authorized
|
|
Shares Outstanding
|
|
2016
|
|
2015
|
||||
|
|
|
|
|
|
|
|
(in millions)
|
||||||
5.1%
|
|
$25
|
|
8,000,000
|
|
8,000,000
|
|
|
$200.0
|
|
|
|
$200.0
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
December 31
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Commercial paper outstanding
|
$244.1
|
|
$159.8
|
|
$—
|
|
$—
|
|
$52.3
|
|
$19.9
|
Commercial paper weighted average interest rates
|
0.9%
|
|
0.7%
|
|
N/A
|
|
N/A
|
|
0.7%
|
|
0.4%
|
Available credit facility capacity
|
$755.9
|
|
$840.2
|
|
$300.0
|
|
$300.0
|
|
$347.7
|
|
$380.1
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
For the year ended
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Maximum amount outstanding (based on daily outstanding balances)
|
$251.8
|
|
$181.2
|
|
$3.1
|
|
$18.4
|
|
$118.3
|
|
$24.7
|
Average amount outstanding (based on daily outstanding balances)
|
$179.0
|
|
$119.2
|
|
$—
|
|
$0.2
|
|
$38.1
|
|
$2.2
|
Weighted average interest rates
|
0.6%
|
|
0.4%
|
|
0.7%
|
|
0.4%
|
|
0.4%
|
|
0.3%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
Requirement, not to exceed
|
65%
|
|
58%
|
|
58%
|
Actual
|
53%
|
|
47%
|
|
49%
|
|
2016
|
|
2015
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Senior Debentures (a):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
5.875%, due 2018
|
|
$100.0
|
|
|
|
$100.0
|
|
|
|
$—
|
|
|
|
$100.0
|
|
|
|
$100.0
|
|
|
|
$—
|
|
7.25%, due 2018
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
3.65%, due 2020
|
200.0
|
|
|
200.0
|
|
|
—
|
|
|
200.0
|
|
|
200.0
|
|
|
—
|
|
||||||
3.25%, due 2024
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
3.4%, due 2025
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
5.5%, due 2025
|
50.0
|
|
|
50.0
|
|
|
—
|
|
|
50.0
|
|
|
50.0
|
|
|
—
|
|
||||||
6.45%, due 2033
|
100.0
|
|
|
100.0
|
|
|
—
|
|
|
100.0
|
|
|
100.0
|
|
|
—
|
|
||||||
6.3%, due 2034
|
125.0
|
|
|
125.0
|
|
|
—
|
|
|
125.0
|
|
|
125.0
|
|
|
—
|
|
||||||
6.25%, due 2039
|
300.0
|
|
|
300.0
|
|
|
—
|
|
|
300.0
|
|
|
300.0
|
|
|
—
|
|
||||||
4.7%, due 2043
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
3.7%, due 2046 (b)
|
300.0
|
|
|
300.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
2,175.0
|
|
|
2,175.0
|
|
|
—
|
|
|
1,875.0
|
|
|
1,875.0
|
|
|
—
|
|
||||||
Debentures (a):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
5%, due 2019
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
4.6%, due 2020
|
150.0
|
|
|
—
|
|
|
150.0
|
|
|
150.0
|
|
|
—
|
|
|
150.0
|
|
||||||
2.25%, due 2022
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
6.25%, due 2034
|
100.0
|
|
|
—
|
|
|
100.0
|
|
|
100.0
|
|
|
—
|
|
|
100.0
|
|
||||||
6.375%, due 2037
|
300.0
|
|
|
—
|
|
|
300.0
|
|
|
300.0
|
|
|
—
|
|
|
300.0
|
|
||||||
7.6%, due 2038
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
4.1%, due 2044
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
|
1,550.0
|
|
|
—
|
|
|
1,550.0
|
|
|
1,550.0
|
|
|
—
|
|
|
1,550.0
|
|
||||||
Other:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
AEF term loan credit agreement through 2018, 1% at December 31, 2016 (c)(d)
|
500.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Corporate Services 3.45% senior notes, due 2022 (a)
|
75.0
|
|
|
—
|
|
|
—
|
|
|
75.0
|
|
|
—
|
|
|
—
|
|
||||||
Sheboygan Power, LLC 5.06% senior secured notes, due 2017 to 2024 (secured by Sheboygan Falls and related assets) (a)
|
53.8
|
|
|
—
|
|
|
—
|
|
|
56.8
|
|
|
—
|
|
|
—
|
|
||||||
Alliant Energy term loan credit agreement, 1% at December 31, 2015 (Retired in 2016) (c)
|
—
|
|
|
—
|
|
|
—
|
|
|
250.0
|
|
|
—
|
|
|
—
|
|
||||||
Franklin County Holdings LLC term loan credit agreement, 1% at December 31, 2015 (Retired in 2016) (c)
|
—
|
|
|
—
|
|
|
—
|
|
|
60.0
|
|
|
—
|
|
|
—
|
|
||||||
Other, 1% at December 31, 2016, due 2017 to 2025
|
3.3
|
|
|
—
|
|
|
—
|
|
|
3.7
|
|
|
—
|
|
|
—
|
|
||||||
|
632.1
|
|
|
—
|
|
|
—
|
|
|
445.5
|
|
|
—
|
|
|
—
|
|
||||||
Subtotal
|
4,357.1
|
|
|
2,175.0
|
|
|
1,550.0
|
|
|
3,870.5
|
|
|
1,875.0
|
|
|
1,550.0
|
|
||||||
Current maturities
|
(4.6
|
)
|
|
—
|
|
|
—
|
|
|
(313.4
|
)
|
|
—
|
|
|
—
|
|
||||||
Unamortized debt issuance costs
|
(23.4
|
)
|
|
(13.7
|
)
|
|
(9.1
|
)
|
|
(22.3
|
)
|
|
(11.8
|
)
|
|
(9.9
|
)
|
||||||
Unamortized debt (discount) and premium, net
|
(13.5
|
)
|
|
(7.8
|
)
|
|
(5.7
|
)
|
|
(12.6
|
)
|
|
(6.3
|
)
|
|
(6.2
|
)
|
||||||
Long-term debt, net (e)
|
|
$4,315.6
|
|
|
|
$2,153.5
|
|
|
|
$1,535.2
|
|
|
|
$3,522.2
|
|
|
|
$1,856.9
|
|
|
|
$1,533.9
|
|
(a)
|
Contains optional redemption provisions which, if elected by the issuer at its sole discretion, could require material redemption premium payments by the issuer. The redemption premium payments under these optional redemption provisions are variable and dependent on applicable U.S. Treasury rates at the time of redemption.
|
(b)
|
In 2016, IPL issued
$300 million
of
3.7%
senior debentures due 2046. The proceeds from the issuance were used by IPL to reduce cash amounts received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt by
$100 million
and for general corporate purposes.
|
(c)
|
In 2016, AEF entered into a
$500 million
variable-rate term loan credit agreement and used the proceeds from borrowings under this agreement to retire Alliant Energy’s and Franklin County Holdings LLC’s variable-rate term loan credit agreements that matured in 2016, reduce outstanding commercial paper at Alliant Energy and for general corporate purposes.
|
(d)
|
Refer to
Note 9(a)
for discussion of a financial covenant contained in AEF’s term loan credit agreement.
|
(e)
|
There were no significant sinking fund requirements related to the outstanding long-term debt.
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
||||||||||
IPL
|
|
$—
|
|
|
|
$350
|
|
|
|
$—
|
|
|
|
$200
|
|
|
|
$—
|
|
WPL
|
—
|
|
|
—
|
|
|
250
|
|
|
150
|
|
|
—
|
|
|||||
AEF
|
5
|
|
|
506
|
|
|
6
|
|
|
7
|
|
|
8
|
|
|||||
Alliant Energy
|
|
$5
|
|
|
|
$856
|
|
|
|
$256
|
|
|
|
$357
|
|
|
|
$8
|
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|
Total
|
||||||||||||||
Alliant Energy
|
|
$6
|
|
|
|
$6
|
|
|
|
$2
|
|
|
|
$2
|
|
|
|
$1
|
|
|
|
$15
|
|
|
|
$32
|
|
IPL
|
3
|
|
|
2
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
10
|
|
|
18
|
|
|||||||
WPL
|
3
|
|
|
4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
Interest expense
|
|
$9.3
|
|
|
|
$9.9
|
|
|
|
$10.4
|
|
Depreciation and amortization
|
6.2
|
|
|
6.2
|
|
|
6.2
|
|
|||
|
|
$15.5
|
|
|
|
$16.1
|
|
|
|
$16.6
|
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|
Total
|
|
Less: amount representing interest
|
|
Present value of minimum capital lease payments
|
Sheboygan Falls
|
$15
|
|
$15
|
|
$15
|
|
$15
|
|
$15
|
|
$53
|
|
$128
|
|
$44
|
|
$84
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
||||||||||||||||||
Current tax expense (benefit):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Federal
|
|
$1.8
|
|
|
|
$2.0
|
|
|
|
$36.6
|
|
|
|
($12.8
|
)
|
|
|
($14.1
|
)
|
|
|
$8.9
|
|
|
|
($22.3
|
)
|
|
|
$4.7
|
|
|
|
$2.0
|
|
State
|
17.2
|
|
|
3.2
|
|
|
9.3
|
|
|
15.5
|
|
|
11.5
|
|
|
10.4
|
|
|
1.1
|
|
|
0.6
|
|
|
0.8
|
|
|||||||||
IPL’s tax benefit riders
|
(44.2
|
)
|
|
(49.0
|
)
|
|
(56.7
|
)
|
|
(44.2
|
)
|
|
(49.0
|
)
|
|
(56.7
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Deferred tax expense (benefit):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Federal
|
112.8
|
|
|
120.8
|
|
|
83.5
|
|
|
59.1
|
|
|
40.7
|
|
|
10.8
|
|
|
112.3
|
|
|
76.8
|
|
|
81.1
|
|
|||||||||
State
|
4.9
|
|
|
27.9
|
|
|
4.6
|
|
|
(9.0
|
)
|
|
3.3
|
|
|
(7.9
|
)
|
|
20.8
|
|
|
20.2
|
|
|
20.0
|
|
|||||||||
Production tax credits
|
(31.8
|
)
|
|
(33.1
|
)
|
|
(31.3
|
)
|
|
(14.0
|
)
|
|
(14.5
|
)
|
|
(13.8
|
)
|
|
(17.8
|
)
|
|
(18.6
|
)
|
|
(17.5
|
)
|
|||||||||
Investment tax credits
|
(1.3
|
)
|
|
(1.4
|
)
|
|
(1.6
|
)
|
|
(0.5
|
)
|
|
(0.6
|
)
|
|
(0.6
|
)
|
|
(0.8
|
)
|
|
(0.8
|
)
|
|
(1.0
|
)
|
|||||||||
Provision recorded as a change in accrued interest
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
|||||||||
|
|
$59.4
|
|
|
|
$70.4
|
|
|
|
$44.3
|
|
|
|
($5.9
|
)
|
|
|
($22.7
|
)
|
|
|
($48.9
|
)
|
|
|
$93.3
|
|
|
|
$82.9
|
|
|
|
$85.3
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|||||||||
Statutory federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
State income taxes, net of federal benefits
|
5.4
|
|
|
5.2
|
|
|
5.4
|
|
|
6.4
|
|
|
6.2
|
|
|
6.1
|
|
|
5.1
|
|
|
5.1
|
|
|
5.1
|
|
IPL’s tax benefit riders
|
(10.0
|
)
|
|
(10.6
|
)
|
|
(12.9
|
)
|
|
(20.1
|
)
|
|
(28.3
|
)
|
|
(39.6
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
Effect of rate-making on property-related differences
|
(8.5
|
)
|
|
(6.8
|
)
|
|
(7.5
|
)
|
|
(16.2
|
)
|
|
(17.2
|
)
|
|
(21.9
|
)
|
|
(0.7
|
)
|
|
(0.5
|
)
|
|
(0.7
|
)
|
Production tax credits
|
(7.2
|
)
|
|
(7.2
|
)
|
|
(7.1
|
)
|
|
(6.3
|
)
|
|
(8.3
|
)
|
|
(9.6
|
)
|
|
(6.2
|
)
|
|
(7.1
|
)
|
|
(6.6
|
)
|
Adjustment of prior period taxes
|
(0.8
|
)
|
|
0.8
|
|
|
(1.3
|
)
|
|
(1.2
|
)
|
|
0.7
|
|
|
(3.0
|
)
|
|
(0.1
|
)
|
|
0.1
|
|
|
—
|
|
Other items, net
|
(0.5
|
)
|
|
(1.1
|
)
|
|
(1.5
|
)
|
|
(0.3
|
)
|
|
(1.2
|
)
|
|
(1.2
|
)
|
|
(0.5
|
)
|
|
(0.8
|
)
|
|
(0.8
|
)
|
Overall income tax rate
|
13.4
|
%
|
|
15.3
|
%
|
|
10.1
|
%
|
|
(2.7
|
%)
|
|
(13.1
|
%)
|
|
(34.2
|
%)
|
|
32.6
|
%
|
|
31.8
|
%
|
|
32.0
|
%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Deferred tax liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Property
|
|
$2,919.0
|
|
|
|
$2,762.9
|
|
|
|
$1,677.0
|
|
|
|
$1,587.8
|
|
|
|
$1,124.5
|
|
|
|
$1,027.0
|
|
Investment in ATC
|
153.1
|
|
|
138.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
138.9
|
|
||||||
Other
|
95.3
|
|
|
157.3
|
|
|
71.4
|
|
|
87.8
|
|
|
59.1
|
|
|
67.9
|
|
||||||
Total deferred tax liabilities
|
3,167.4
|
|
|
3,058.3
|
|
|
1,748.4
|
|
|
1,675.6
|
|
|
1,183.6
|
|
|
1,233.8
|
|
||||||
Deferred tax assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Federal credit carryforwards
|
268.4
|
|
|
236.4
|
|
|
95.9
|
|
|
81.7
|
|
|
112.9
|
|
|
95.5
|
|
||||||
Net operating losses carryforwards - federal
|
173.3
|
|
|
250.9
|
|
|
69.6
|
|
|
113.1
|
|
|
75.4
|
|
|
105.1
|
|
||||||
Regulatory liability - IPL’s tax benefit riders
|
34.7
|
|
|
66.1
|
|
|
34.7
|
|
|
66.1
|
|
|
—
|
|
|
—
|
|
||||||
Net operating losses carryforwards - state
|
32.9
|
|
|
38.3
|
|
|
0.6
|
|
|
1.1
|
|
|
0.1
|
|
|
3.6
|
|
||||||
Other
|
87.9
|
|
|
85.4
|
|
|
35.8
|
|
|
35.6
|
|
|
23.6
|
|
|
24.2
|
|
||||||
Total deferred tax assets
|
597.2
|
|
|
677.1
|
|
|
236.6
|
|
|
297.6
|
|
|
212.0
|
|
|
228.4
|
|
||||||
Total deferred tax liabilities, net
|
|
$2,570.2
|
|
|
|
$2,381.2
|
|
|
|
$1,511.8
|
|
|
|
$1,378.0
|
|
|
|
$971.6
|
|
|
|
$1,005.4
|
|
|
Range of Expiration Dates
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Federal net operating losses
|
2030-2034
|
|
|
$506
|
|
|
|
$206
|
|
|
|
$215
|
|
State net operating losses
|
2018-2034
|
|
673
|
|
|
12
|
|
|
2
|
|
|||
Federal tax credits
|
2022-2036
|
|
274
|
|
|
100
|
|
|
113
|
|
Consolidated federal income tax returns (a)
|
2013
|
-
|
2015
|
Consolidated Iowa income tax returns (b)
|
2013
|
-
|
2015
|
Wisconsin combined tax returns (c)
|
2012
|
-
|
2015
|
(a)
|
The federal tax returns for 2013 and 2014 are effectively settled as a result of participation in the IRS Compliance Assurance Program, which allows Alliant Energy and the IRS to work together to resolve issues related to Alliant Energy’s current tax year before filing its federal income tax return. The statute of limitations for these federal tax returns expires
three
years from each filing date.
|
(b)
|
The statute of limitations for these Iowa tax returns expires
three
years from each filing date.
|
(c)
|
The statute of limitations for these Wisconsin combined tax returns expires
four
years from each filing date.
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
|||||||||||||||||
Alliant Energy
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|||||||||
Discount rate for benefit obligations
|
4.19%
|
|
4.47%
|
|
4.18%
|
|
3.98%
|
|
4.30%
|
|
3.97%
|
|||||||||
Discount rate for net periodic cost
|
4.47%
|
|
4.18%
|
|
4.97%
|
|
4.30%
|
|
3.97%
|
|
4.59%
|
|||||||||
Expected rate of return on plan assets
|
7.60%
|
|
7.60%
|
|
7.60%
|
|
6.30%
|
|
6.20%
|
|
7.40%
|
|||||||||
Rate of compensation increase
|
3.65
|
%
|
-
|
4.50%
|
|
3.65
|
%
|
-
|
4.50%
|
|
3.50
|
%
|
-
|
4.50%
|
|
N/A
|
|
N/A
|
|
N/A
|
Medical cost trend on covered charges:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Initial trend rate (end of year)
|
N/A
|
|
N/A
|
|
N/A
|
|
7.00%
|
|
7.25%
|
|
6.75%
|
|||||||||
Ultimate trend rate
|
N/A
|
|
N/A
|
|
N/A
|
|
5.00%
|
|
5.00%
|
|
5.00%
|
|
Qualified Defined Benefit Pension Plan
|
|
OPEB Plans
|
||||||||
IPL
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
Discount rate for benefit obligations
|
4.22%
|
|
4.50%
|
|
4.20%
|
|
3.95%
|
|
4.28%
|
|
3.94%
|
Discount rate for net periodic cost
|
4.50%
|
|
4.20%
|
|
5.05%
|
|
4.28%
|
|
3.94%
|
|
4.55%
|
Expected rate of return on plan assets
|
7.60%
|
|
7.60%
|
|
7.60%
|
|
6.60%
|
|
6.60%
|
|
7.60%
|
Rate of compensation increase
|
3.65%
|
|
3.65%
|
|
3.50%
|
|
N/A
|
|
N/A
|
|
N/A
|
Medical cost trend on covered charges:
|
|
|
|
|
|
|
|
|
|
|
|
Initial trend rate (end of year)
|
N/A
|
|
N/A
|
|
N/A
|
|
7.00%
|
|
7.25%
|
|
6.75%
|
Ultimate trend rate
|
N/A
|
|
N/A
|
|
N/A
|
|
5.00%
|
|
5.00%
|
|
5.00%
|
|
Qualified Defined Benefit Pension Plan
|
|
OPEB Plans
|
||||||||
WPL
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
Discount rate for benefit obligations
|
4.23%
|
|
4.51%
|
|
4.20%
|
|
3.96%
|
|
4.28%
|
|
3.96%
|
Discount rate for net periodic cost
|
4.51%
|
|
4.20%
|
|
5.05%
|
|
4.28%
|
|
3.96%
|
|
4.56%
|
Expected rate of return on plan assets
|
7.60%
|
|
7.60%
|
|
7.60%
|
|
4.70%
|
|
4.60%
|
|
7.30%
|
Rate of compensation increase
|
3.65%
|
|
3.65%
|
|
3.50%
|
|
N/A
|
|
N/A
|
|
N/A
|
Medical cost trend on covered charges:
|
|
|
|
|
|
|
|
|
|
|
|
Initial trend rate (end of year)
|
N/A
|
|
N/A
|
|
N/A
|
|
7.00%
|
|
7.25%
|
|
6.75%
|
Ultimate trend rate
|
N/A
|
|
N/A
|
|
N/A
|
|
5.00%
|
|
5.00%
|
|
5.00%
|
Alliant Energy
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|||||||||||||
Service cost
|
|
$12.6
|
|
|
|
$15.9
|
|
|
|
$13.1
|
|
|
|
$5.3
|
|
|
|
$5.5
|
|
|
|
$5.2
|
|
Interest cost
|
53.0
|
|
|
53.6
|
|
|
54.1
|
|
|
9.4
|
|
|
9.1
|
|
|
9.5
|
|
||||||
Expected return on plan assets (a)
|
(65.5
|
)
|
|
(75.0
|
)
|
|
(74.9
|
)
|
|
(6.1
|
)
|
|
(8.4
|
)
|
|
(8.3
|
)
|
||||||
Amortization of prior service cost (credit) (b)
|
(0.3
|
)
|
|
(0.2
|
)
|
|
—
|
|
|
(4.1
|
)
|
|
(11.3
|
)
|
|
(11.9
|
)
|
||||||
Amortization of actuarial loss (c)
|
37.4
|
|
|
35.4
|
|
|
19.5
|
|
|
4.7
|
|
|
4.8
|
|
|
2.4
|
|
||||||
Additional benefit costs
|
—
|
|
|
0.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
|
$37.2
|
|
|
|
$30.2
|
|
|
|
$11.8
|
|
|
|
$9.2
|
|
|
|
($0.3
|
)
|
|
|
($3.1
|
)
|
IPL
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|||||||||||||
Service cost
|
|
$7.5
|
|
|
|
$8.8
|
|
|
|
$7.2
|
|
|
|
$2.3
|
|
|
|
$2.4
|
|
|
|
$2.4
|
|
Interest cost
|
24.5
|
|
|
25.0
|
|
|
25.1
|
|
|
3.8
|
|
|
3.8
|
|
|
3.9
|
|
||||||
Expected return on plan assets (a)
|
(30.9
|
)
|
|
(35.8
|
)
|
|
(35.7
|
)
|
|
(4.3
|
)
|
|
(5.7
|
)
|
|
(5.8
|
)
|
||||||
Amortization of prior service cost (credit) (b)
|
(0.2
|
)
|
|
(0.1
|
)
|
|
—
|
|
|
(2.6
|
)
|
|
(6.1
|
)
|
|
(6.3
|
)
|
||||||
Amortization of actuarial loss (c)
|
16.5
|
|
|
15.3
|
|
|
8.0
|
|
|
2.6
|
|
|
2.3
|
|
|
1.1
|
|
||||||
|
|
$17.4
|
|
|
|
$13.2
|
|
|
|
$4.6
|
|
|
|
$1.8
|
|
|
|
($3.3
|
)
|
|
|
($4.7
|
)
|
WPL
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|||||||||||||
Service cost
|
|
$4.9
|
|
|
|
$5.8
|
|
|
|
$4.9
|
|
|
|
$2.0
|
|
|
|
$2.1
|
|
|
|
$2.0
|
|
Interest cost
|
22.3
|
|
|
22.6
|
|
|
22.6
|
|
|
3.8
|
|
|
3.7
|
|
|
3.8
|
|
||||||
Expected return on plan assets (a)
|
(28.3
|
)
|
|
(32.4
|
)
|
|
(32.4
|
)
|
|
(0.8
|
)
|
|
(1.5
|
)
|
|
(1.3
|
)
|
||||||
Amortization of prior service cost (credit) (b)
|
0.2
|
|
|
0.2
|
|
|
0.3
|
|
|
(0.9
|
)
|
|
(3.5
|
)
|
|
(3.9
|
)
|
||||||
Amortization of actuarial loss (c)
|
17.6
|
|
|
16.8
|
|
|
9.2
|
|
|
1.8
|
|
|
2.2
|
|
|
1.3
|
|
||||||
Additional benefit costs
|
—
|
|
|
0.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
|
$16.7
|
|
|
|
$13.5
|
|
|
|
$4.6
|
|
|
|
$5.9
|
|
|
|
$3.0
|
|
|
|
$1.9
|
|
(a)
|
The expected return on plan assets is based on the expected rate of return on plan assets and the fair value approach to the market-related value of plan assets.
|
(b)
|
Unrecognized prior service costs (credits) for the OPEB plans are amortized over the average future service period to full eligibility of the participants of each plan.
|
(c)
|
Unrecognized net actuarial gains or losses in excess of 10% of the greater of the plans’ benefit obligations or assets are amortized over the average future service lives of plan participants, except for the Alliant Energy Cash Balance Pension Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Defined Benefit
|
|
|
|
Defined Benefit
|
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
|
Pension Plans
|
|
OPEB Plans
|
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
Actuarial loss
|
|
$37.5
|
|
|
|
$3.8
|
|
|
|
$16.1
|
|
|
|
$2.0
|
|
|
|
$18.5
|
|
|
|
$1.6
|
|
Prior service cost (credit)
|
(0.4
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
—
|
|
|
0.1
|
|
|
(0.2
|
)
|
||||||
|
|
$37.1
|
|
|
|
$3.6
|
|
|
|
$15.9
|
|
|
|
$2.0
|
|
|
|
$18.6
|
|
|
|
$1.4
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Change in benefit obligation:
|
|
|
|
|
|
|
|
||||||||
Net benefit obligation at January 1
|
|
$1,206.3
|
|
|
|
$1,301.5
|
|
|
|
$221.4
|
|
|
|
$231.1
|
|
Service cost
|
12.6
|
|
|
15.9
|
|
|
5.3
|
|
|
5.5
|
|
||||
Interest cost
|
53.0
|
|
|
53.6
|
|
|
9.4
|
|
|
9.1
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
2.4
|
|
|
3.1
|
|
||||
Plan amendments
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.3
|
)
|
||||
Additional benefit costs
|
—
|
|
|
0.5
|
|
|
—
|
|
|
—
|
|
||||
Actuarial (gain) loss
|
48.3
|
|
|
(70.1
|
)
|
|
(0.3
|
)
|
|
(9.4
|
)
|
||||
Gross benefits paid
|
(75.9
|
)
|
|
(95.1
|
)
|
|
(18.1
|
)
|
|
(17.7
|
)
|
||||
Net benefit obligation at December 31
|
1,244.3
|
|
|
1,206.3
|
|
|
220.1
|
|
|
221.4
|
|
||||
Change in plan assets:
|
|
|
|
|
|
|
|
||||||||
Fair value of plan assets at January 1
|
895.0
|
|
|
1,018.1
|
|
|
106.9
|
|
|
121.6
|
|
||||
Actual return on plan assets
|
74.3
|
|
|
(30.2
|
)
|
|
8.2
|
|
|
(4.9
|
)
|
||||
Employer contributions
|
2.3
|
|
|
2.2
|
|
|
6.4
|
|
|
4.8
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
2.4
|
|
|
3.1
|
|
||||
Gross benefits paid
|
(75.9
|
)
|
|
(95.1
|
)
|
|
(18.1
|
)
|
|
(17.7
|
)
|
||||
Fair value of plan assets at December 31
|
895.7
|
|
|
895.0
|
|
|
105.8
|
|
|
106.9
|
|
||||
Under funded status at December 31
|
|
($348.6
|
)
|
|
|
($311.3
|
)
|
|
|
($114.3
|
)
|
|
|
($114.5
|
)
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Amounts recognized on the balance sheets consist of:
|
|
|
|
|
|
|
|
||||||||
Non-current assets
|
|
$—
|
|
|
|
$—
|
|
|
|
$3.2
|
|
|
|
$3.0
|
|
Other current liabilities
|
(6.5
|
)
|
|
(2.6
|
)
|
|
(8.6
|
)
|
|
(6.2
|
)
|
||||
Pension and other benefit obligations
|
(342.1
|
)
|
|
(308.7
|
)
|
|
(108.9
|
)
|
|
(111.3
|
)
|
||||
Net amounts recognized at December 31
|
|
($348.6
|
)
|
|
|
($311.3
|
)
|
|
|
($114.3
|
)
|
|
|
($114.5
|
)
|
Amounts recognized in Regulatory Assets (refer to
Note 2
for details) and AOCL (refer to
Alliant Energy’s common equity statements
for details) consist of:
|
|
|
|
|
|
|
|
||||||||
Net actuarial loss
|
|
$535.1
|
|
|
|
$533.1
|
|
|
|
$52.6
|
|
|
|
$59.8
|
|
Prior service credit
|
(6.9
|
)
|
|
(7.2
|
)
|
|
(1.5
|
)
|
|
(5.6
|
)
|
||||
|
|
$528.2
|
|
|
|
$525.9
|
|
|
|
$51.1
|
|
|
|
$54.2
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Change in benefit obligation:
|
|
|
|
|
|
|
|
||||||||
Net benefit obligation at January 1
|
|
$556.1
|
|
|
|
$603.1
|
|
|
|
$91.3
|
|
|
|
$96.4
|
|
Service cost
|
7.5
|
|
|
8.8
|
|
|
2.3
|
|
|
2.4
|
|
||||
Interest cost
|
24.5
|
|
|
25.0
|
|
|
3.8
|
|
|
3.8
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
0.9
|
|
|
1.0
|
|
||||
Plan amendments
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
||||
Actuarial (gain) loss
|
19.1
|
|
|
(32.3
|
)
|
|
(0.7
|
)
|
|
(4.6
|
)
|
||||
Gross benefits paid
|
(36.8
|
)
|
|
(48.5
|
)
|
|
(7.5
|
)
|
|
(7.6
|
)
|
||||
Net benefit obligation at December 31
|
570.4
|
|
|
556.1
|
|
|
90.1
|
|
|
91.3
|
|
||||
Change in plan assets:
|
|
|
|
|
|
|
|
||||||||
Fair value of plan assets at January 1
|
422.7
|
|
|
484.7
|
|
|
69.2
|
|
|
78.7
|
|
||||
Actual return on plan assets
|
35.3
|
|
|
(14.3
|
)
|
|
5.3
|
|
|
(3.1
|
)
|
||||
Employer contributions
|
0.8
|
|
|
0.8
|
|
|
0.3
|
|
|
0.2
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
0.9
|
|
|
1.0
|
|
||||
Gross benefits paid
|
(36.8
|
)
|
|
(48.5
|
)
|
|
(7.5
|
)
|
|
(7.6
|
)
|
||||
Fair value of plan assets at December 31
|
422.0
|
|
|
422.7
|
|
|
68.2
|
|
|
69.2
|
|
||||
Under funded status at December 31
|
|
($148.4
|
)
|
|
|
($133.4
|
)
|
|
|
($21.9
|
)
|
|
|
($22.1
|
)
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Amounts recognized on the balance sheets consist of:
|
|
|
|
|
|
|
|
||||||||
Non-current assets
|
|
$—
|
|
|
|
$—
|
|
|
|
$0.4
|
|
|
|
$—
|
|
Other current liabilities
|
(0.7
|
)
|
|
(0.8
|
)
|
|
(1.9
|
)
|
|
—
|
|
||||
Pension and other benefit obligations
|
(147.7
|
)
|
|
(132.6
|
)
|
|
(20.4
|
)
|
|
(22.1
|
)
|
||||
Net amounts recognized at December 31
|
|
($148.4
|
)
|
|
|
($133.4
|
)
|
|
|
($21.9
|
)
|
|
|
($22.1
|
)
|
Amounts recognized in Regulatory Assets consist of (refer to
Note 2
for details):
|
|
|
|
|
|
|
|
||||||||
Net actuarial loss
|
|
$233.6
|
|
|
|
$235.5
|
|
|
|
$25.4
|
|
|
|
$29.8
|
|
Prior service credit
|
(2.3
|
)
|
|
(2.5
|
)
|
|
—
|
|
|
(2.7
|
)
|
||||
|
|
$231.3
|
|
|
|
$233.0
|
|
|
|
$25.4
|
|
|
|
$27.1
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Change in benefit obligation:
|
|
|
|
|
|
|
|
||||||||
Net benefit obligation at January 1
|
|
$505.9
|
|
|
|
$547.6
|
|
|
|
$89.7
|
|
|
|
$94.0
|
|
Service cost
|
4.9
|
|
|
5.8
|
|
|
2.0
|
|
|
2.1
|
|
||||
Interest cost
|
22.3
|
|
|
22.6
|
|
|
3.8
|
|
|
3.7
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.2
|
|
|
1.6
|
|
||||
Plan amendments
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.2
|
)
|
||||
Additional benefit costs
|
—
|
|
|
0.5
|
|
|
—
|
|
|
—
|
|
||||
Actuarial (gain) loss
|
25.7
|
|
|
(30.0
|
)
|
|
0.5
|
|
|
(3.5
|
)
|
||||
Gross benefits paid
|
(29.6
|
)
|
|
(40.6
|
)
|
|
(8.3
|
)
|
|
(8.0
|
)
|
||||
Net benefit obligation at December 31
|
529.2
|
|
|
505.9
|
|
|
88.9
|
|
|
89.7
|
|
||||
Change in plan assets:
|
|
|
|
|
|
|
|
||||||||
Fair value of plan assets at January 1
|
386.8
|
|
|
440.3
|
|
|
18.7
|
|
|
21.8
|
|
||||
Actual return on plan assets
|
32.4
|
|
|
(13.0
|
)
|
|
1.2
|
|
|
(1.1
|
)
|
||||
Employer contributions
|
0.1
|
|
|
0.1
|
|
|
5.8
|
|
|
4.4
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.2
|
|
|
1.6
|
|
||||
Gross benefits paid
|
(29.6
|
)
|
|
(40.6
|
)
|
|
(8.3
|
)
|
|
(8.0
|
)
|
||||
Fair value of plan assets at December 31
|
389.7
|
|
|
386.8
|
|
|
18.6
|
|
|
18.7
|
|
||||
Under funded status at December 31
|
|
($139.5
|
)
|
|
|
($119.1
|
)
|
|
|
($70.3
|
)
|
|
|
($71.0
|
)
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Amounts recognized on the balance sheets consist of:
|
|
|
|
|
|
|
|
||||||||
Non-current assets
|
|
$—
|
|
|
|
$—
|
|
|
|
$2.7
|
|
|
|
$3.0
|
|
Other current liabilities
|
(0.1
|
)
|
|
(0.1
|
)
|
|
(6.4
|
)
|
|
(6.0
|
)
|
||||
Pension and other benefit obligations
|
(139.4
|
)
|
|
(119.0
|
)
|
|
(66.6
|
)
|
|
(68.0
|
)
|
||||
Net amounts recognized at December 31
|
|
($139.5
|
)
|
|
|
($119.1
|
)
|
|
|
($70.3
|
)
|
|
|
($71.0
|
)
|
Amounts recognized in Regulatory Assets consist of (refer to
Note 2
for details):
|
|
|
|
|
|
|
|
||||||||
Net actuarial loss
|
|
$236.1
|
|
|
|
$232.1
|
|
|
|
$21.5
|
|
|
|
$23.3
|
|
Prior service credit
|
(1.4
|
)
|
|
(1.2
|
)
|
|
(1.5
|
)
|
|
(2.4
|
)
|
||||
|
|
$234.7
|
|
|
|
$230.9
|
|
|
|
$20.0
|
|
|
|
$20.9
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Accumulated benefit obligations
|
|
$1,201.5
|
|
|
|
$1,166.0
|
|
|
|
$220.1
|
|
|
|
$221.4
|
|
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Accumulated benefit obligations
|
1,201.5
|
|
|
1,166.0
|
|
|
220.1
|
|
|
221.4
|
|
||||
Fair value of plan assets
|
895.7
|
|
|
895.0
|
|
|
105.8
|
|
|
106.9
|
|
||||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Projected benefit obligations
|
1,244.3
|
|
|
1,206.3
|
|
|
N/A
|
|
|
N/A
|
|
||||
Fair value of plan assets
|
895.7
|
|
|
895.0
|
|
|
N/A
|
|
|
N/A
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Accumulated benefit obligations
|
|
$546.7
|
|
|
|
$531.0
|
|
|
|
$90.1
|
|
|
|
$91.3
|
|
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Accumulated benefit obligations
|
546.7
|
|
|
531.0
|
|
|
90.1
|
|
|
91.3
|
|
||||
Fair value of plan assets
|
422.0
|
|
|
422.7
|
|
|
68.2
|
|
|
69.2
|
|
||||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Projected benefit obligations
|
570.4
|
|
|
556.1
|
|
|
N/A
|
|
|
N/A
|
|
||||
Fair value of plan assets
|
422.0
|
|
|
422.7
|
|
|
N/A
|
|
|
N/A
|
|
|
Defined Benefit
|
|
|
||||||||||||
|
Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Accumulated benefit obligations
|
|
$513.2
|
|
|
|
$493.8
|
|
|
|
$88.9
|
|
|
|
$89.7
|
|
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Accumulated benefit obligations
|
513.2
|
|
|
493.8
|
|
|
88.9
|
|
|
89.7
|
|
||||
Fair value of plan assets
|
389.7
|
|
|
386.8
|
|
|
18.6
|
|
|
18.7
|
|
||||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Projected benefit obligations
|
529.2
|
|
|
505.9
|
|
|
N/A
|
|
|
N/A
|
|
||||
Fair value of plan assets
|
389.7
|
|
|
386.8
|
|
|
N/A
|
|
|
N/A
|
|
|
IPL
|
|
WPL
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Regulatory assets
|
|
$37.3
|
|
|
|
$38.0
|
|
|
|
$30.0
|
|
|
|
$29.5
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Defined benefit pension plans (a)
|
|
$6.5
|
|
|
|
$0.7
|
|
|
|
$0.1
|
|
OPEB plans
|
8.7
|
|
|
2.0
|
|
|
6.4
|
|
(a)
|
Alliant Energy sponsors several non-qualified defined benefit pension plans that cover certain current and former key employees of IPL and WPL. Alliant Energy allocates pension costs to IPL and WPL for these plans. In addition, IPL and WPL amounts reflect funding for their non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans.
|
Alliant Energy
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
2022 - 2026
|
||||||||||||
Defined benefit pension benefits
|
|
$74.8
|
|
|
|
$73.2
|
|
|
|
$75.5
|
|
|
|
$77.6
|
|
|
|
$79.9
|
|
|
|
$405.9
|
|
OPEB
|
18.6
|
|
|
18.5
|
|
|
18.2
|
|
|
17.8
|
|
|
17.6
|
|
|
82.6
|
|
||||||
|
|
$93.4
|
|
|
|
$91.7
|
|
|
|
$93.7
|
|
|
|
$95.4
|
|
|
|
$97.5
|
|
|
|
$488.5
|
|
IPL
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
2022 - 2026
|
||||||||||||
Defined benefit pension benefits
|
|
$34.0
|
|
|
|
$35.1
|
|
|
|
$35.0
|
|
|
|
$37.2
|
|
|
|
$37.9
|
|
|
|
$192.1
|
|
OPEB
|
7.7
|
|
|
7.6
|
|
|
7.4
|
|
|
7.4
|
|
|
7.2
|
|
|
34.0
|
|
||||||
|
|
$41.7
|
|
|
|
$42.7
|
|
|
|
$42.4
|
|
|
|
$44.6
|
|
|
|
$45.1
|
|
|
|
$226.1
|
|
WPL
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
2022 - 2026
|
||||||||||||
Defined benefit pension benefits
|
|
$30.2
|
|
|
|
$30.9
|
|
|
|
$31.8
|
|
|
|
$32.5
|
|
|
|
$32.4
|
|
|
|
$167.1
|
|
OPEB
|
8.0
|
|
|
8.0
|
|
|
7.8
|
|
|
7.4
|
|
|
7.3
|
|
|
32.7
|
|
||||||
|
|
$38.2
|
|
|
|
$38.9
|
|
|
|
$39.6
|
|
|
|
$39.9
|
|
|
|
$39.7
|
|
|
|
$199.8
|
|
|
Target Range
|
|
Actual
|
|||
|
Allocation
|
|
Allocation
|
|||
Cash and equivalents
|
0
|
%
|
-
|
5%
|
|
3%
|
Equity securities - domestic
|
22
|
%
|
-
|
42%
|
|
30%
|
Equity securities - international
|
8
|
%
|
-
|
28%
|
|
17%
|
Global asset allocation securities
|
5
|
%
|
-
|
15%
|
|
10%
|
Risk parity allocation securities
|
5
|
%
|
-
|
15%
|
|
10%
|
Fixed income securities
|
20
|
%
|
-
|
40%
|
|
30%
|
|
Target Range
|
|
Actual
|
|||
|
Allocation
|
|
Allocation
|
|||
Cash and equivalents
|
0
|
%
|
-
|
15%
|
|
3%
|
Equity securities - domestic
|
0
|
%
|
-
|
45%
|
|
22%
|
Equity securities - international
|
0
|
%
|
-
|
21%
|
|
13%
|
Global asset allocation securities
|
5
|
%
|
-
|
40%
|
|
16%
|
Fixed income securities
|
10
|
%
|
-
|
70%
|
|
46%
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$30.4
|
|
|
|
$5.0
|
|
|
|
$25.4
|
|
|
|
$—
|
|
|
|
$23.1
|
|
|
|
$—
|
|
|
|
$23.1
|
|
|
|
$—
|
|
Equity securities - domestic
|
183.6
|
|
|
183.6
|
|
|
—
|
|
|
—
|
|
|
116.4
|
|
|
116.4
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
97.4
|
|
|
97.4
|
|
|
—
|
|
|
—
|
|
|
93.9
|
|
|
93.9
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
53.0
|
|
|
53.0
|
|
|
—
|
|
|
—
|
|
|
52.9
|
|
|
52.9
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
125.4
|
|
|
53.6
|
|
|
71.8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
489.8
|
|
|
|
$392.6
|
|
|
|
$97.2
|
|
|
|
$—
|
|
|
286.3
|
|
|
|
$263.2
|
|
|
|
$23.1
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
405.9
|
|
|
|
|
|
|
|
|
608.5
|
|
|
|
|
|
|
|
||||||||||||||
Accrued investment income
|
1.1
|
|
|
|
|
|
|
|
|
0.2
|
|
|
|
|
|
|
|
||||||||||||||
Due to brokers, net (pending trades with brokers)
|
(1.1
|
)
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
|
||||||||||||||
Total pension plan assets
|
|
$895.7
|
|
|
|
|
|
|
|
|
|
$895.0
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$14.4
|
|
|
|
$2.4
|
|
|
|
$12.0
|
|
|
|
$—
|
|
|
|
$10.9
|
|
|
|
$—
|
|
|
|
$10.9
|
|
|
|
$—
|
|
Equity securities - domestic
|
86.5
|
|
|
86.5
|
|
|
—
|
|
|
—
|
|
|
54.9
|
|
|
54.9
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
45.9
|
|
|
45.9
|
|
|
—
|
|
|
—
|
|
|
44.4
|
|
|
44.4
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
24.9
|
|
|
24.9
|
|
|
—
|
|
|
—
|
|
|
25.0
|
|
|
25.0
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
59.1
|
|
|
25.3
|
|
|
33.8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
230.8
|
|
|
|
$185.0
|
|
|
|
$45.8
|
|
|
|
$—
|
|
|
135.2
|
|
|
|
$124.3
|
|
|
|
$10.9
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
191.2
|
|
|
|
|
|
|
|
|
287.4
|
|
|
|
|
|
|
|
||||||||||||||
Accrued investment income
|
0.5
|
|
|
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
||||||||||||||
Due to brokers, net (pending trades with brokers)
|
(0.5
|
)
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
|
||||||||||||||
Total pension plan assets
|
|
$422.0
|
|
|
|
|
|
|
|
|
|
$422.7
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$13.3
|
|
|
|
$2.2
|
|
|
|
$11.1
|
|
|
|
$—
|
|
|
|
$10.0
|
|
|
|
$—
|
|
|
|
$10.0
|
|
|
|
$—
|
|
Equity securities - domestic
|
79.9
|
|
|
79.9
|
|
|
—
|
|
|
—
|
|
|
50.3
|
|
|
50.3
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
42.4
|
|
|
42.4
|
|
|
—
|
|
|
—
|
|
|
40.6
|
|
|
40.6
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
23.0
|
|
|
23.0
|
|
|
—
|
|
|
—
|
|
|
22.8
|
|
|
22.8
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
54.5
|
|
|
23.3
|
|
|
31.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
213.1
|
|
|
|
$170.8
|
|
|
|
$42.3
|
|
|
|
$—
|
|
|
123.7
|
|
|
|
$113.7
|
|
|
|
$10.0
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
176.6
|
|
|
|
|
|
|
|
|
263.0
|
|
|
|
|
|
|
|
||||||||||||||
Accrued investment income
|
0.5
|
|
|
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
||||||||||||||
Due to brokers, net (pending trades with brokers)
|
(0.5
|
)
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
|
||||||||||||||
Total pension plan assets
|
|
$389.7
|
|
|
|
|
|
|
|
|
|
$386.8
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$3.5
|
|
|
|
$2.0
|
|
|
|
$1.5
|
|
|
|
$—
|
|
|
|
$3.6
|
|
|
|
$—
|
|
|
|
$3.6
|
|
|
|
$—
|
|
Equity securities - domestic
|
22.5
|
|
|
22.5
|
|
|
—
|
|
|
—
|
|
|
22.1
|
|
|
22.1
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
13.5
|
|
|
13.5
|
|
|
—
|
|
|
—
|
|
|
13.4
|
|
|
13.4
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
16.5
|
|
|
16.5
|
|
|
—
|
|
|
—
|
|
|
16.0
|
|
|
16.0
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
46.8
|
|
|
46.2
|
|
|
0.6
|
|
|
—
|
|
|
46.3
|
|
|
46.3
|
|
|
—
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
102.8
|
|
|
|
$100.7
|
|
|
|
$2.1
|
|
|
|
$—
|
|
|
101.4
|
|
|
|
$97.8
|
|
|
|
$3.6
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
3.0
|
|
|
|
|
|
|
|
|
5.5
|
|
|
|
|
|
|
|
||||||||||||||
Total OPEB plan assets
|
|
$105.8
|
|
|
|
|
|
|
|
|
|
$106.9
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$0.8
|
|
|
|
$0.8
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$0.9
|
|
|
|
$—
|
|
|
|
$0.9
|
|
|
|
$—
|
|
Equity securities - domestic
|
17.0
|
|
|
17.0
|
|
|
—
|
|
|
—
|
|
|
16.7
|
|
|
16.7
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
11.0
|
|
|
11.0
|
|
|
—
|
|
|
—
|
|
|
10.8
|
|
|
10.8
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset allocation securities
|
7.0
|
|
|
7.0
|
|
|
—
|
|
|
—
|
|
|
6.9
|
|
|
6.9
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
32.4
|
|
|
32.4
|
|
|
—
|
|
|
—
|
|
|
33.3
|
|
|
33.3
|
|
|
—
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
68.2
|
|
|
|
$68.2
|
|
|
|
$—
|
|
|
|
$—
|
|
|
68.6
|
|
|
|
$67.7
|
|
|
|
$0.9
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
—
|
|
|
|
|
|
|
|
|
0.6
|
|
|
|
|
|
|
|
||||||||||||||
Total OPEB plan assets
|
|
$68.2
|
|
|
|
|
|
|
|
|
|
$69.2
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$2.0
|
|
|
|
$0.7
|
|
|
|
$1.3
|
|
|
|
$—
|
|
|
|
$2.3
|
|
|
|
$—
|
|
|
|
$2.3
|
|
|
|
$—
|
|
Global asset allocation securities
|
5.5
|
|
|
5.5
|
|
|
—
|
|
|
—
|
|
|
5.4
|
|
|
5.4
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
11.1
|
|
|
11.1
|
|
|
—
|
|
|
—
|
|
|
11.0
|
|
|
11.0
|
|
|
—
|
|
|
—
|
|
||||||||
Total OPEB plan assets
|
|
$18.6
|
|
|
|
$17.3
|
|
|
|
$1.3
|
|
|
|
$—
|
|
|
|
$18.7
|
|
|
|
$16.4
|
|
|
|
$2.3
|
|
|
|
$—
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|
2016
|
|
2015
|
|
2014
|
|||||||||||||||
401(k) costs
|
|
$23.6
|
|
|
|
$24.9
|
|
|
|
$22.5
|
|
|
|
$12.0
|
|
|
|
$12.7
|
|
|
|
$11.1
|
|
|
|
$10.7
|
|
|
|
$11.2
|
|
|
|
$10.5
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
||||||||||||||||||
Compensation expense
|
|
$18.0
|
|
|
|
$10.7
|
|
|
|
$15.3
|
|
|
|
$9.5
|
|
|
|
$5.7
|
|
|
|
$8.3
|
|
|
|
$7.9
|
|
|
|
$4.7
|
|
|
|
$6.4
|
|
Income tax benefits
|
7.4
|
|
|
4.4
|
|
|
6.2
|
|
|
4.0
|
|
|
2.4
|
|
|
3.4
|
|
|
3.2
|
|
|
1.9
|
|
|
2.6
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
||||||
Nonvested awards, January 1
|
288,430
|
|
|
288,848
|
|
|
279,880
|
|
|
116,412
|
|
|
127,330
|
|
|
131,824
|
|
Granted
|
68,585
|
|
|
90,806
|
|
|
102,442
|
|
|
23,918
|
|
|
35,674
|
|
|
40,844
|
|
Vested
|
(98,186
|
)
|
|
(91,224
|
)
|
|
(90,470
|
)
|
|
(42,760
|
)
|
|
(45,690
|
)
|
|
(41,502
|
)
|
Forfeited
|
(1,230
|
)
|
|
—
|
|
|
(3,004
|
)
|
|
(4,250
|
)
|
|
(902
|
)
|
|
(3,836
|
)
|
Nonvested awards, December 31
|
257,599
|
|
|
288,430
|
|
|
288,848
|
|
|
93,320
|
|
|
116,412
|
|
|
127,330
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016
|
|
2015
|
|
2014
|
|
2013 Grant
|
|
2012 Grant
|
|
2011 Grant
|
|
2013 Grant
|
|
2012 Grant
|
|
2011 Grant
|
Performance awards vested
|
98,186
|
|
91,224
|
|
90,470
|
|
42,760
|
|
45,690
|
|
41,502
|
Percentage of target number of performance awards
|
165.0%
|
|
167.5%
|
|
147.5%
|
|
165.0%
|
|
167.5%
|
|
147.5%
|
Aggregate payout value (in millions)
|
$5.1
|
|
$5.1
|
|
$3.4
|
|
$1.7
|
|
$1.6
|
|
$1.2
|
Payout - cash (in millions)
|
$2.9
|
|
$3.2
|
|
$2.9
|
|
$1.7
|
|
$1.6
|
|
$1.2
|
Payout - common stock shares issued
|
22,408
|
|
21,950
|
|
9,620
|
|
N/A
|
|
N/A
|
|
N/A
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||||||||||
|
2016 Grant
|
|
2015 Grant
|
|
2014 Grant
|
|
2016 Grant
|
|
2015 Grant
|
|
2014 Grant
|
||||||||||||
Nonvested awards at target
|
67,355
|
|
|
90,806
|
|
|
99,438
|
|
|
22,657
|
|
|
33,268
|
|
|
37,395
|
|
||||||
Alliant Energy common stock closing price on December 30, 2016
|
|
$37.89
|
|
|
|
$37.89
|
|
|
|
$37.89
|
|
|
|
$37.89
|
|
|
N/A
|
|
N/A
|
||||
Alliant Energy common stock closing price on grant date
|
N/A
|
|
N/A
|
|
N/A
|
|
N/A
|
|
|
$32.55
|
|
|
|
$26.89
|
|
||||||||
Estimated payout percentage based on performance criteria
|
135
|
%
|
|
155
|
%
|
|
148
|
%
|
|
135
|
%
|
|
155
|
%
|
|
148
|
%
|
||||||
Fair values of each nonvested award
|
|
$51.15
|
|
|
|
$58.73
|
|
|
|
$56.08
|
|
|
|
$51.15
|
|
|
|
$50.45
|
|
|
|
$39.80
|
|
|
2016
|
|
2015
|
|
2014
|
|||||||||||||||
|
|
|
Weighted Average
|
|
|
|
Weighted Average
|
|
|
|
Weighted Average
|
|||||||||
|
Shares
|
|
Grant Date Fair Value
|
|
Shares
|
|
Grant Date Fair Value
|
|
Shares
|
|
Grant Date Fair Value
|
|||||||||
Nonvested shares, January 1
|
190,244
|
|
|
|
$29.59
|
|
|
197,624
|
|
|
|
$25.35
|
|
|
317,844
|
|
|
|
$21.36
|
|
Granted
|
—
|
|
|
—
|
|
|
90,806
|
|
|
32.55
|
|
|
102,442
|
|
|
26.89
|
|
|||
Vested (a)
|
—
|
|
|
—
|
|
|
(98,186
|
)
|
|
23.79
|
|
|
(181,694
|
)
|
|
20.46
|
|
|||
Forfeited (b)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(40,968
|
)
|
|
19.93
|
|
|||
Nonvested shares, December 31
|
190,244
|
|
|
29.59
|
|
|
190,244
|
|
|
29.59
|
|
|
197,624
|
|
|
25.35
|
|
(a)
|
In 2015,
98,186
performance-contingent restricted shares granted in 2013 vested because the specified performance criteria for such shares were met. In 2014,
91,224
and
90,470
performance-contingent restricted shares granted in 2012 and 2011, respectively, vested because the specified performance criteria for such shares were met.
|
(b)
|
The forfeitures during 2014 were primarily caused by retirements and terminations of participants.
|
(a)
|
In 2015,
74,664
performance-contingent cash awards granted in 2013 vested, resulting in cash payouts valued at
$2.4 million
. In 2014,
69,532
and
41,502
performance-contingent cash awards granted in 2012 and 2011 vested, resulting in cash payouts valued at
$1.9 million
and
$1.1 million
, respectively.
|
|
2016
|
|
2015
|
||||
Carrying value
|
|
$10.0
|
|
|
|
$8.5
|
|
Fair market value
|
16.7
|
|
|
13.4
|
|
|
Alliant Energy
|
|
IPL
|
||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Carrying value
|
$19.4
|
|
$18.3
|
|
$4.6
|
|
$5.0
|
|
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 (a)
|
(13.3
|
)
|
|
17.3
|
|
|
(5.8
|
)
|
|
15.1
|
|
|
(7.5
|
)
|
|
3.2
|
|
||||||
Liabilities settled
|
(14.0
|
)
|
|
(8.8
|
)
|
|
(6.8
|
)
|
|
(4.3
|
)
|
|
(7.2
|
)
|
|
(4.5
|
)
|
||||||
Liabilities incurred (a)
|
2.6
|
|
|
86.6
|
|
|
0.7
|
|
|
67.8
|
|
|
1.9
|
|
|
18.8
|
|
||||||
Accretion expense
|
6.4
|
|
|
4.9
|
|
|
3.7
|
|
|
2.5
|
|
|
2.3
|
|
|
2.0
|
|
||||||
Balance, December 31
|
|
$195.7
|
|
|
|
$214.0
|
|
|
|
$124.7
|
|
|
|
$132.9
|
|
|
|
$61.4
|
|
|
|
$71.9
|
|
(a)
|
In April 2015, the EPA published the final CCR Rule, which regulates CCR as a non-hazardous waste and was effective October 2015. IPL and WPL have
nine
and
three
coal-fired EGUs, respectively, with coal ash ponds that are impacted by this rule. In addition, IPL and WPL have
four
and
two
active CCR landfills, respectively, that are impacted by this rule. In 2015, Alliant Energy, IPL and WPL recognized additional AROs of
$87 million
,
$67 million
and
$20 million
, respectively, as a result of the final CCR Rule. These increases in AROs resulted in corresponding increases in property, plant and equipment, net on the respective balance sheets. Actual costs resulting from the CCR Rule may be different than the amounts recorded in 2015 due to potential changes in compliance strategies that will be used, as well as other potential cost estimate changes. Expenditures incurred by IPL and WPL to comply with the CCR Rule are anticipated to be recovered in rates from their customers.
|
Risk management purpose
|
Type of instrument
|
Mitigate pricing volatility for:
|
|
Electricity purchased to supply customers
|
Electric swap and physical forward contracts (IPL and WPL)
|
Fuel used to supply natural gas-fired EGUs
|
Natural gas swap and physical forward contracts (IPL and WPL)
|
|
Natural gas options (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)
|
Alliant Energy
|
2016
|
|
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
|
|
$41.4
|
|
|
|
$—
|
|
|
|
$4.6
|
|
|
|
$36.8
|
|
|
|
$41.4
|
|
|
|
$18.4
|
|
|
|
$—
|
|
|
|
$2.5
|
|
|
|
$15.9
|
|
|
|
$18.4
|
|
Deferred proceeds
|
211.1
|
|
|
—
|
|
|
—
|
|
|
211.1
|
|
|
211.1
|
|
|
172.0
|
|
|
—
|
|
|
—
|
|
|
172.0
|
|
|
172.0
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
28.6
|
|
|
—
|
|
|
0.5
|
|
|
28.1
|
|
|
28.6
|
|
|
64.6
|
|
|
—
|
|
|
16.0
|
|
|
48.6
|
|
|
64.6
|
|
||||||||||
Long-term debt (including current maturities)
|
4,320.2
|
|
|
—
|
|
|
4,795.7
|
|
|
3.3
|
|
|
4,799.0
|
|
|
3,835.6
|
|
|
—
|
|
|
4,332.4
|
|
|
3.7
|
|
|
4,336.1
|
|
||||||||||
IPL’s cumulative preferred stock
|
200.0
|
|
|
194.8
|
|
|
—
|
|
|
—
|
|
|
194.8
|
|
|
200.0
|
|
|
206.6
|
|
|
—
|
|
|
—
|
|
|
206.6
|
|
IPL
|
2016
|
|
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
|
|
$20.8
|
|
|
|
$—
|
|
|
|
$2.8
|
|
|
|
$18.0
|
|
|
|
$20.8
|
|
|
|
$15.5
|
|
|
|
$—
|
|
|
|
$2.0
|
|
|
|
$13.5
|
|
|
|
$15.5
|
|
Deferred proceeds
|
211.1
|
|
|
—
|
|
|
—
|
|
|
211.1
|
|
|
211.1
|
|
|
172.0
|
|
|
—
|
|
|
—
|
|
|
172.0
|
|
|
172.0
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
8.3
|
|
|
—
|
|
|
0.4
|
|
|
7.9
|
|
|
8.3
|
|
|
23.4
|
|
|
—
|
|
|
8.0
|
|
|
15.4
|
|
|
23.4
|
|
||||||||||
Long-term debt (including current maturities)
|
2,153.5
|
|
|
—
|
|
|
2,352.3
|
|
|
—
|
|
|
2,352.3
|
|
|
1,856.9
|
|
|
—
|
|
|
2,092.7
|
|
|
—
|
|
|
2,092.7
|
|
||||||||||
Cumulative preferred stock
|
200.0
|
|
|
194.8
|
|
|
—
|
|
|
—
|
|
|
194.8
|
|
|
200.0
|
|
|
206.6
|
|
|
—
|
|
|
—
|
|
|
206.6
|
|
WPL
|
2016
|
|
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
|
|
$20.6
|
|
|
|
$—
|
|
|
|
$1.8
|
|
|
|
$18.8
|
|
|
|
$20.6
|
|
|
|
$2.9
|
|
|
|
$—
|
|
|
|
$0.5
|
|
|
|
$2.4
|
|
|
|
$2.9
|
|
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
20.3
|
|
|
—
|
|
|
0.1
|
|
|
20.2
|
|
|
20.3
|
|
|
41.2
|
|
|
—
|
|
|
8.0
|
|
|
33.2
|
|
|
41.2
|
|
||||||||||
Long-term debt (including current maturities)
|
1,535.2
|
|
|
—
|
|
|
1,807.4
|
|
|
—
|
|
|
1,807.4
|
|
|
1,533.9
|
|
|
—
|
|
|
1,793.0
|
|
|
—
|
|
|
1,793.0
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Beginning balance, January 1
|
|
($32.7
|
)
|
|
|
$17.9
|
|
|
|
$172.0
|
|
|
|
$177.2
|
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
30.7
|
|
|
(63.5
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers into Level 3
|
0.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
1.2
|
|
|
0.3
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
22.0
|
|
|
36.9
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(1.0
|
)
|
|
(1.9
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(12.4
|
)
|
|
(22.4
|
)
|
|
39.1
|
|
|
(5.2
|
)
|
||||
Ending balance, December 31
|
|
$8.7
|
|
|
|
($32.7
|
)
|
|
|
$211.1
|
|
|
|
$172.0
|
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31
|
|
$32.7
|
|
|
|
($56.0
|
)
|
|
|
$—
|
|
|
|
$—
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Beginning balance, January 1
|
|
($1.9
|
)
|
|
|
$19.4
|
|
|
|
$172.0
|
|
|
|
$177.2
|
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
7.3
|
|
|
(29.6
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers into Level 3
|
0.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
0.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
20.6
|
|
|
33.1
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(1.0
|
)
|
|
(1.8
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(15.6
|
)
|
|
(23.0
|
)
|
|
39.1
|
|
|
(5.2
|
)
|
||||
Ending balance, December 31
|
|
$10.1
|
|
|
|
($1.9
|
)
|
|
|
$211.1
|
|
|
|
$172.0
|
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31
|
|
$8.5
|
|
|
|
($23.1
|
)
|
|
|
$—
|
|
|
|
$—
|
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
|
2016
|
|
2015
|
||||
Beginning balance, January 1
|
|
($30.8
|
)
|
|
|
($1.5
|
)
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
23.4
|
|
|
(33.9
|
)
|
||
Transfers into Level 3
|
0.4
|
|
|
—
|
|
||
Transfers out of Level 3
|
1.0
|
|
|
0.3
|
|
||
Purchases
|
1.4
|
|
|
3.8
|
|
||
Sales
|
—
|
|
|
(0.1
|
)
|
||
Settlements
|
3.2
|
|
|
0.6
|
|
||
Ending balance, December 31
|
|
($1.4
|
)
|
|
|
($30.8
|
)
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31
|
|
$24.2
|
|
|
|
($32.9
|
)
|
(a)
|
Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash amounts received from the receivables sold.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
||||||||||||
2016
|
|
($2.3
|
)
|
|
|
$11.0
|
|
|
|
$0.1
|
|
|
|
$10.0
|
|
|
|
($2.4
|
)
|
|
|
$1.0
|
|
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
|
2,628
|
|
|
2017-2018
|
|
8,970
|
|
|
2017
|
|
139,865
|
|
|
2017-2023
|
|
4,239
|
|
|
2017-2019
|
|
6,552
|
|
|
2017-2018
|
IPL
|
—
|
|
|
—
|
|
5,465
|
|
|
2017
|
|
56,265
|
|
|
2017-2021
|
|
1,955
|
|
|
2017-2019
|
|
—
|
|
|
—
|
WPL
|
2,628
|
|
|
2017-2018
|
|
3,505
|
|
|
2017
|
|
83,600
|
|
|
2017-2023
|
|
2,284
|
|
|
2017-2018
|
|
6,552
|
|
|
2017-2018
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Commodity contracts
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||
Current derivative assets
|
|
$29.4
|
|
|
|
$15.1
|
|
|
|
$19.1
|
|
|
|
$13.8
|
|
|
|
$10.3
|
|
|
|
$1.3
|
|
Non-current derivative assets
|
12.0
|
|
|
3.3
|
|
|
1.7
|
|
|
1.7
|
|
|
10.3
|
|
|
1.6
|
|
||||||
Current derivative liabilities
|
13.3
|
|
|
47.3
|
|
|
2.7
|
|
|
18.5
|
|
|
10.6
|
|
|
28.8
|
|
||||||
Non-current derivative liabilities
|
15.3
|
|
|
17.3
|
|
|
5.6
|
|
|
4.9
|
|
|
9.7
|
|
|
12.4
|
|
Alliant Energy
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|
Total
|
||||||||||||||
Purchased power (a)
|
|
$185
|
|
|
|
$189
|
|
|
|
$159
|
|
|
|
$137
|
|
|
|
$149
|
|
|
|
$599
|
|
|
|
$1,418
|
|
Natural gas
|
223
|
|
|
142
|
|
|
115
|
|
|
98
|
|
|
69
|
|
|
124
|
|
|
771
|
|
|||||||
Coal (b)
|
105
|
|
|
54
|
|
|
18
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
177
|
|
|||||||
Other (c)
|
16
|
|
|
4
|
|
|
5
|
|
|
2
|
|
|
2
|
|
|
5
|
|
|
34
|
|
|||||||
|
|
$529
|
|
|
|
$389
|
|
|
|
$297
|
|
|
|
$237
|
|
|
|
$220
|
|
|
|
$728
|
|
|
|
$2,400
|
|
IPL
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|
Total
|
||||||||||||||
Purchased power (a)
|
|
$138
|
|
|
|
$131
|
|
|
|
$144
|
|
|
|
$137
|
|
|
|
$149
|
|
|
|
$599
|
|
|
|
$1,298
|
|
Natural gas
|
120
|
|
|
74
|
|
|
55
|
|
|
39
|
|
|
23
|
|
|
71
|
|
|
382
|
|
|||||||
Coal (b)
|
49
|
|
|
19
|
|
|
9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
77
|
|
|||||||
Other (c)
|
15
|
|
|
1
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
17
|
|
|||||||
|
|
$322
|
|
|
|
$225
|
|
|
|
$209
|
|
|
|
$176
|
|
|
|
$172
|
|
|
|
$670
|
|
|
|
$1,774
|
|
WPL
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
Thereafter
|
|
Total
|
||||||||||||||
Purchased power (a)
|
|
$47
|
|
|
|
$58
|
|
|
|
$15
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$120
|
|
Natural gas
|
103
|
|
|
68
|
|
|
60
|
|
|
59
|
|
|
46
|
|
|
53
|
|
|
389
|
|
|||||||
Coal (b)
|
56
|
|
|
35
|
|
|
9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
100
|
|
|||||||
Other (c)
|
—
|
|
|
1
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|||||||
|
|
$206
|
|
|
|
$162
|
|
|
|
$85
|
|
|
|
$59
|
|
|
|
$46
|
|
|
|
$53
|
|
|
|
$611
|
|
(a)
|
Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased.
|
(b)
|
Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of
December 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
December 31, 2016
.
|
|
Alliant Energy
|
|
IPL
|
||||||||
Range of estimated future costs
|
|
$14
|
|
-
|
$27
|
|
|
$12
|
|
-
|
$24
|
Current and non-current environmental liabilities
|
16
|
|
13
|
•
|
Utility -
includes the operations of IPL and WPL, which primarily serve retail customers in Iowa and Wisconsin. The utility business has
three
reportable segments: a) utility electric operations, which include Alliant Energy’s investment in ATC; b) utility gas operations; and c) utility other, which includes steam operations and the unallocated portions of the utility business. Various line items in the following tables are not allocated to the electric and gas segments for management reporting purposes, and therefore, are included only in “Total Utility.”
|
•
|
Non-regulated, Parent and Other -
includes the operations of AEF and its subsidiaries, Corporate Services, the Alliant Energy parent company, and any Alliant Energy parent company consolidating adjustments. AEF’s businesses include Transportation, Non-regulated Generation and other non-regulated investments described in
Note 1(a)
.
|
|
Utility
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
2016
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
Operating revenues
|
|
$2,875.5
|
|
|
|
$355.4
|
|
|
|
$48.6
|
|
|
|
$3,279.5
|
|
|
|
$40.5
|
|
|
|
$3,320.0
|
|
Depreciation and amortization
|
367.0
|
|
|
34.2
|
|
|
2.1
|
|
|
403.3
|
|
|
8.3
|
|
|
411.6
|
|
||||||
Operating income (loss)
|
571.9
|
|
|
30.7
|
|
|
(4.8
|
)
|
|
597.8
|
|
|
(60.8
|
)
|
|
537.0
|
|
||||||
Interest expense
|
|
|
|
|
|
|
194.6
|
|
|
1.6
|
|
|
196.2
|
|
|||||||||
Equity (income) loss from unconsolidated investments, net
|
(39.8
|
)
|
|
—
|
|
|
—
|
|
|
(39.8
|
)
|
|
0.2
|
|
|
(39.6
|
)
|
||||||
Income tax expense (benefit)
|
|
|
|
|
|
|
87.4
|
|
|
(28.0
|
)
|
|
59.4
|
|
|||||||||
Net income (loss) attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
406.0
|
|
|
(34.5
|
)
|
|
371.5
|
|
|||||||||
Total assets
|
11,040.5
|
|
|
1,091.1
|
|
|
781.0
|
|
|
12,912.6
|
|
|
461.2
|
|
|
13,373.8
|
|
||||||
Investments in equity method subsidiaries
|
325.3
|
|
|
—
|
|
|
—
|
|
|
325.3
|
|
|
0.7
|
|
|
326.0
|
|
||||||
Construction and acquisition expenditures
|
1,005.5
|
|
|
137.1
|
|
|
0.1
|
|
|
1,142.7
|
|
|
54.1
|
|
|
1,196.8
|
|
|
Utility
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
2015
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
Operating revenues
|
|
$2,770.5
|
|
|
|
$381.2
|
|
|
|
$57.9
|
|
|
|
$3,209.6
|
|
|
|
$44.0
|
|
|
|
$3,253.6
|
|
Depreciation and amortization
|
358.6
|
|
|
31.1
|
|
|
1.8
|
|
|
391.5
|
|
|
9.8
|
|
|
401.3
|
|
||||||
Operating income
|
514.1
|
|
|
34.6
|
|
|
1.9
|
|
|
550.6
|
|
|
26.4
|
|
|
577.0
|
|
||||||
Interest expense
|
|
|
|
|
|
|
189.2
|
|
|
(2.1
|
)
|
|
187.1
|
|
|||||||||
Equity (income) loss from unconsolidated investments, net
|
(35.1
|
)
|
|
—
|
|
|
—
|
|
|
(35.1
|
)
|
|
1.3
|
|
|
(33.8
|
)
|
||||||
Income taxes
|
|
|
|
|
|
|
60.2
|
|
|
10.2
|
|
|
70.4
|
|
|||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
362.3
|
|
|
15.9
|
|
|
378.2
|
|
|||||||||
Total assets
|
10,211.3
|
|
|
939.3
|
|
|
828.9
|
|
|
11,979.5
|
|
|
515.7
|
|
|
12,495.2
|
|
||||||
Investments in equity method subsidiaries
|
302.0
|
|
|
—
|
|
|
—
|
|
|
302.0
|
|
|
0.9
|
|
|
302.9
|
|
||||||
Construction and acquisition expenditures
|
855.8
|
|
|
106.4
|
|
|
1.4
|
|
|
963.6
|
|
|
70.7
|
|
|
1,034.3
|
|
|
Utility
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
2014
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
Operating revenues
|
|
$2,713.6
|
|
|
|
$517.5
|
|
|
|
$66.1
|
|
|
|
$3,297.2
|
|
|
|
$53.1
|
|
|
|
$3,350.3
|
|
Depreciation and amortization
|
347.0
|
|
|
29.9
|
|
|
1.8
|
|
|
378.7
|
|
|
9.4
|
|
|
388.1
|
|
||||||
Operating income
|
442.4
|
|
|
53.8
|
|
|
14.0
|
|
|
510.2
|
|
|
33.4
|
|
|
543.6
|
|
||||||
Interest expense
|
|
|
|
|
|
|
176.3
|
|
|
4.3
|
|
|
180.6
|
|
|||||||||
Equity income (loss) from unconsolidated investments, net
|
(42.8
|
)
|
|
—
|
|
|
—
|
|
|
(42.8
|
)
|
|
2.4
|
|
|
(40.4
|
)
|
||||||
Income taxes
|
|
|
|
|
|
|
36.4
|
|
|
7.9
|
|
|
44.3
|
|
|||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
362.0
|
|
|
21.1
|
|
|
383.1
|
|
|||||||||
Total assets
|
9,660.4
|
|
|
913.5
|
|
|
993.9
|
|
|
11,567.8
|
|
|
495.7
|
|
|
12,063.5
|
|
||||||
Investments in equity method subsidiaries
|
294.3
|
|
|
—
|
|
|
—
|
|
|
294.3
|
|
|
2.3
|
|
|
296.6
|
|
||||||
Construction and acquisition expenditures
|
774.8
|
|
|
63.2
|
|
|
0.9
|
|
|
838.9
|
|
|
63.9
|
|
|
902.8
|
|
2016
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,569.7
|
|
|
|
$204.0
|
|
|
|
$46.7
|
|
|
|
$1,820.4
|
|
Depreciation and amortization
|
189.4
|
|
|
19.3
|
|
|
2.1
|
|
|
210.8
|
|
||||
Operating income
|
252.0
|
|
|
15.5
|
|
|
3.3
|
|
|
270.8
|
|
||||
Interest expense
|
|
|
|
|
|
|
103.2
|
|
|||||||
Income tax benefit
|
|
|
|
|
|
|
(5.9
|
)
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
215.6
|
|
|||||||
Total assets
|
6,278.2
|
|
|
653.3
|
|
|
373.2
|
|
|
7,304.7
|
|
||||
Construction and acquisition expenditures
|
598.1
|
|
|
91.5
|
|
|
0.1
|
|
|
689.7
|
|
2015
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,503.8
|
|
|
|
$217.3
|
|
|
|
$53.4
|
|
|
|
$1,774.5
|
|
Depreciation and amortization
|
187.9
|
|
|
17.5
|
|
|
1.8
|
|
|
207.2
|
|
||||
Operating income
|
218.8
|
|
|
17.7
|
|
|
5.4
|
|
|
241.9
|
|
||||
Interest expense
|
|
|
|
|
|
|
96.8
|
|
|||||||
Income tax benefit
|
|
|
|
|
|
|
(22.7
|
)
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
186.0
|
|
|||||||
Total assets
|
5,754.1
|
|
|
548.2
|
|
|
406.8
|
|
|
6,709.1
|
|
||||
Construction and acquisition expenditures
|
561.2
|
|
|
56.7
|
|
|
1.4
|
|
|
619.3
|
|
2014
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,493.3
|
|
|
|
$296.5
|
|
|
|
$58.3
|
|
|
|
$1,848.1
|
|
Depreciation and amortization
|
178.7
|
|
|
17.0
|
|
|
1.8
|
|
|
197.5
|
|
||||
Operating income
|
166.8
|
|
|
25.7
|
|
|
16.7
|
|
|
209.2
|
|
||||
Interest expense
|
|
|
|
|
|
|
89.9
|
|
|||||||
Income tax benefit
|
|
|
|
|
|
|
(48.9
|
)
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
181.6
|
|
|||||||
Total assets
|
5,398.3
|
|
|
544.1
|
|
|
507.8
|
|
|
6,450.2
|
|
||||
Construction and acquisition expenditures
|
490.0
|
|
|
35.1
|
|
|
0.9
|
|
|
526.0
|
|
2016
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,305.8
|
|
|
|
$151.4
|
|
|
|
$1.9
|
|
|
|
$1,459.1
|
|
Depreciation and amortization
|
177.6
|
|
|
14.9
|
|
|
—
|
|
|
192.5
|
|
||||
Operating income (loss)
|
319.9
|
|
|
15.2
|
|
|
(8.1
|
)
|
|
327.0
|
|
||||
Interest expense
|
|
|
|
|
|
|
91.4
|
|
|||||||
Equity income from unconsolidated investments
|
(39.8
|
)
|
|
—
|
|
|
—
|
|
|
(39.8
|
)
|
||||
Income taxes
|
|
|
|
|
|
|
93.3
|
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
190.4
|
|
|||||||
Total assets
|
4,444.7
|
|
|
437.8
|
|
|
407.8
|
|
|
5,290.3
|
|
||||
Investments in equity method subsidiaries
|
7.7
|
|
|
—
|
|
|
—
|
|
|
7.7
|
|
||||
Construction and acquisition expenditures
|
407.4
|
|
|
45.6
|
|
|
—
|
|
|
453.0
|
|
2015
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,266.7
|
|
|
|
$163.9
|
|
|
|
$4.5
|
|
|
|
$1,435.1
|
|
Depreciation and amortization
|
170.7
|
|
|
13.6
|
|
|
—
|
|
|
184.3
|
|
||||
Operating income (loss)
|
295.3
|
|
|
16.9
|
|
|
(3.5
|
)
|
|
308.7
|
|
||||
Interest expense
|
|
|
|
|
|
|
92.4
|
|
|||||||
Equity income from unconsolidated investments
|
(35.1
|
)
|
|
—
|
|
|
—
|
|
|
(35.1
|
)
|
||||
Income taxes
|
|
|
|
|
|
|
82.9
|
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
176.3
|
|
|||||||
Total assets
|
4,457.2
|
|
|
391.1
|
|
|
422.1
|
|
|
5,270.4
|
|
||||
Investments in equity method subsidiaries
|
302.0
|
|
|
—
|
|
|
—
|
|
|
302.0
|
|
||||
Construction and acquisition expenditures
|
294.6
|
|
|
49.7
|
|
|
—
|
|
|
344.3
|
|
2014
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Operating revenues
|
|
$1,220.3
|
|
|
|
$221.0
|
|
|
|
$7.8
|
|
|
|
$1,449.1
|
|
Depreciation and amortization
|
168.3
|
|
|
12.9
|
|
|
—
|
|
|
181.2
|
|
||||
Operating income (loss)
|
275.6
|
|
|
28.1
|
|
|
(2.7
|
)
|
|
301.0
|
|
||||
Interest expense
|
|
|
|
|
|
|
86.4
|
|
|||||||
Equity income from unconsolidated investments
|
(42.8
|
)
|
|
—
|
|
|
—
|
|
|
(42.8
|
)
|
||||
Income taxes
|
|
|
|
|
|
|
85.3
|
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
180.4
|
|
|||||||
Total assets
|
4,262.1
|
|
|
369.4
|
|
|
486.1
|
|
|
5,117.6
|
|
||||
Investments in equity method subsidiaries
|
294.3
|
|
|
—
|
|
|
—
|
|
|
294.3
|
|
||||
Construction and acquisition expenditures
|
284.8
|
|
|
28.1
|
|
|
—
|
|
|
312.9
|
|
|
2016
|
|
2015
|
||||
IPL
|
|
$104
|
|
|
|
$93
|
|
WPL
|
72
|
|
|
54
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
ATC billings to WPL
|
|
$110
|
|
|
|
$101
|
|
|
|
$96
|
|
WPL billings to ATC
|
13
|
|
|
13
|
|
|
9
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
Operating expenses
|
|
$3.9
|
|
|
|
$4.0
|
|
|
|
$3.7
|
|
Loss before income taxes
|
(3.9
|
)
|
|
(4.0
|
)
|
|
(3.7
|
)
|
|||
Income tax benefit
|
(1.6
|
)
|
|
(1.5
|
)
|
|
(1.3
|
)
|
|||
Loss from discontinued operations, net of tax
|
|
($2.3
|
)
|
|
|
($2.5
|
)
|
|
|
($2.4
|
)
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
||||||||||||||||
|
(in millions, except per share data)
|
||||||||||||||||||||||||||||||
Operating revenues
|
|
$843.8
|
|
|
|
$754.6
|
|
|
|
$924.6
|
|
|
|
$797.0
|
|
|
|
$897.4
|
|
|
|
$717.2
|
|
|
|
$898.9
|
|
|
|
$740.1
|
|
Operating income
|
145.9
|
|
|
128.6
|
|
|
162.6
|
|
|
99.9
|
|
|
152.9
|
|
|
109.0
|
|
|
235.9
|
|
|
79.2
|
|
||||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Income from continuing operations, net of tax
|
97.6
|
|
|
84.4
|
|
|
128.8
|
|
|
63.0
|
|
|
96.6
|
|
|
68.9
|
|
|
180.0
|
|
|
35.2
|
|
||||||||
Loss from discontinued operations, net of tax
|
(1.1
|
)
|
|
(0.5
|
)
|
|
(0.4
|
)
|
|
(0.3
|
)
|
|
—
|
|
|
(1.3
|
)
|
|
(0.1
|
)
|
|
(1.1
|
)
|
||||||||
Net income
|
96.5
|
|
|
83.9
|
|
|
128.4
|
|
|
62.7
|
|
|
96.6
|
|
|
67.6
|
|
|
179.9
|
|
|
34.1
|
|
||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (a):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Income from continuing operations, net of tax
|
0.43
|
|
|
0.37
|
|
|
0.57
|
|
|
0.28
|
|
|
0.43
|
|
|
0.31
|
|
|
0.79
|
|
|
0.16
|
|
||||||||
Loss from discontinued operations, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.01
|
)
|
|
—
|
|
|
(0.01
|
)
|
||||||||
Net income
|
0.43
|
|
|
0.37
|
|
|
0.57
|
|
|
0.28
|
|
|
0.43
|
|
|
0.30
|
|
|
0.79
|
|
|
0.15
|
|
(a)
|
Amounts reflect the effects of a
two
-for-one common stock split distributed in May 2016
.
Refer to
Note 7
for additional details.
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
||||||||||||||||
|
(in millions)
|
||||||||||||||||||||||||||||||
Operating revenues
|
|
$458.7
|
|
|
|
$411.0
|
|
|
|
$516.2
|
|
|
|
$434.5
|
|
|
|
$489.0
|
|
|
|
$382.2
|
|
|
|
$504.6
|
|
|
|
$398.7
|
|
Operating income
|
62.0
|
|
|
48.0
|
|
|
125.9
|
|
|
34.9
|
|
|
65.5
|
|
|
33.8
|
|
|
117.0
|
|
|
25.6
|
|
||||||||
Net income
|
48.2
|
|
|
34.4
|
|
|
116.7
|
|
|
26.5
|
|
|
50.1
|
|
|
19.0
|
|
|
119.1
|
|
|
8.0
|
|
||||||||
Earnings available for common stock
|
45.6
|
|
|
31.9
|
|
|
114.1
|
|
|
24.0
|
|
|
47.5
|
|
|
16.5
|
|
|
116.5
|
|
|
5.5
|
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
||||||||||||||||
|
(in millions)
|
||||||||||||||||||||||||||||||
Operating revenues
|
|
$375.6
|
|
|
|
$334.3
|
|
|
|
$397.0
|
|
|
|
$352.2
|
|
|
|
$397.1
|
|
|
|
$324.7
|
|
|
|
$382.6
|
|
|
|
$330.7
|
|
Operating income
|
78.8
|
|
|
75.0
|
|
|
115.0
|
|
|
58.2
|
|
|
80.8
|
|
|
68.3
|
|
|
110.3
|
|
|
49.3
|
|
||||||||
Net income
|
47.0
|
|
|
43.7
|
|
|
69.6
|
|
|
32.5
|
|
|
45.1
|
|
|
39.7
|
|
|
68.4
|
|
|
24.4
|
|
||||||||
Earnings available for common stock
|
46.5
|
|
|
43.2
|
|
|
69.0
|
|
|
31.7
|
|
|
44.9
|
|
|
39.2
|
|
|
68.0
|
|
|
24.2
|
|
|
|
(A)
|
|
|
|
(C)
|
|
|
Number of securities to be
|
|
(B)
|
|
Number of securities remaining available
|
|
|
issued upon exercise of
|
|
Weighted-average exercise
|
|
for future issuance under equity
|
|
|
outstanding options,
|
|
price of outstanding options,
|
|
compensation plans (excluding
|
Plan Category
|
|
warrants and rights
|
|
warrants and rights
|
|
securities reflected in column (A))
|
Equity compensation plans approved by shareowners
|
|
655,936 (a)
|
|
$31.98
|
|
7,363,980 (b)
|
Equity compensation plans not approved by shareowners (c)
|
|
N/A
|
|
N/A
|
|
N/A (d)
|
|
|
655,936
|
|
$31.98
|
|
7,363,980
|
(a)
|
Represents performance shares, performance restricted stock units and restricted stock units granted under the OIP. Performance shares may be paid out in shares of Alliant Energy’s common stock, cash, or a combination of cash and stock and performance restricted stock units are paid out in shares of Alliant Energy’s common stock. The awards are adjusted by a performance multiplier, which ranges from zero to 200%, based on the performance criteria. The performance share and performance restricted stock unit awards included in column (A) of the table reflect an assumed payout in the form of Alliant Energy’s common stock at the maximum performance multiplier of 200% for the
2016
and
2015
grants and at the estimated payout percentage of 148% for the
2014
grants. Also included are restricted stock units granted under the OIP, which may be paid out in shares of Alliant Energy’s common stock, cash, or a combination of cash and stock at the expiration of a three-year time-vesting period.
|
(b)
|
All of the available shares under the Amended and Restated OIP may be issued as awards in the form of shares of Alliant Energy’s common stock, restricted stock, restricted stock units, performance shares, performance units and other stock-based or cash-based awards. As of
December 31, 2016
, there were performance shares, restricted stock awards, performance restricted stock units and restricted stock units outstanding under the Amended and Restated OIP. Excludes
190,244
shares of non-vested restricted common stock previously issued and outstanding under the Amended and Restated OIP at
December 31, 2016
.
|
(c)
|
As of
December 31, 2016
, there were
441,695
shares of Alliant Energy’s common stock outstanding under the DCP, which is described in
Note 12(c)
.
|
(d)
|
There is no limit on the number of shares of Alliant Energy’s common stock that may be held under the DCP.
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||||||||||||||
|
Fees
|
|
% of Total
|
|
Fees
|
|
% of Total
|
|
Fees
|
|
% of Total
|
|
Fees
|
|
% of Total
|
||||||||||||
Audit fees
|
|
$1,035
|
|
|
93
|
%
|
|
|
$1,036
|
|
|
91
|
%
|
|
|
$1,008
|
|
|
95
|
%
|
|
|
$969
|
|
|
95
|
%
|
Audit-related fees
|
64
|
|
|
6
|
%
|
|
90
|
|
|
8
|
%
|
|
41
|
|
|
4
|
%
|
|
41
|
|
|
4
|
%
|
||||
All other fees
|
8
|
|
|
1
|
%
|
|
7
|
|
|
1
|
%
|
|
7
|
|
|
1
|
%
|
|
7
|
|
|
1
|
%
|
||||
|
|
$1,107
|
|
|
100
|
%
|
|
|
$1,133
|
|
|
100
|
%
|
|
|
$1,056
|
|
|
100
|
%
|
|
|
$1,017
|
|
|
100
|
%
|
(1)
|
Consolidated Financial Statements - Refer to
Item 8
Financial Statements and Supplementary Data.
|
(2)
|
Financial Statement Schedules
-
|
(3)
|
Exhibits Required by SEC Regulation S-K
- Exhibits for Alliant Energy, IPL and WPL are listed in the
Exhibit Index
, which is incorporated herein by reference.
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(in millions)
|
||||||||||
Operating revenues
|
|
$1
|
|
|
|
$2
|
|
|
|
$2
|
|
Operating expenses
|
3
|
|
|
3
|
|
|
3
|
|
|||
Operating loss
|
(2
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|||
Interest expense and other:
|
|
|
|
|
|
||||||
Equity earnings from consolidated subsidiaries
|
(374
|
)
|
|
(379
|
)
|
|
(388
|
)
|
|||
Interest expense
|
3
|
|
|
3
|
|
|
9
|
|
|||
Interest income
|
(2
|
)
|
|
(3
|
)
|
|
(2
|
)
|
|||
Total interest expense and other
|
(373
|
)
|
|
(379
|
)
|
|
(381
|
)
|
|||
Income before income taxes
|
371
|
|
|
378
|
|
|
380
|
|
|||
Income tax benefit
|
(1
|
)
|
|
(1
|
)
|
|
(3
|
)
|
|||
Net income
|
|
$372
|
|
|
|
$379
|
|
|
|
$383
|
|
|
December 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(in millions)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Notes receivable from affiliated companies
|
|
$74
|
|
|
|
$93
|
|
Other
|
5
|
|
|
9
|
|
||
Total current assets
|
79
|
|
|
102
|
|
||
Investments:
|
|
|
|
||||
Investments in consolidated subsidiaries
|
4,211
|
|
|
3,999
|
|
||
Other
|
2
|
|
|
14
|
|
||
Total investments
|
4,213
|
|
|
4,013
|
|
||
Other assets
|
64
|
|
|
20
|
|
||
Total assets
|
|
$4,356
|
|
|
|
$4,135
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$—
|
|
|
|
$250
|
|
Commercial paper
|
192
|
|
|
140
|
|
||
Notes payable to affiliated companies
|
275
|
|
|
—
|
|
||
Other
|
12
|
|
|
12
|
|
||
Total current liabilities
|
479
|
|
|
402
|
|
||
Other liabilities
|
18
|
|
|
12
|
|
||
Common equity:
|
|
|
|
||||
Common stock and additional paid-in capital
|
1,695
|
|
|
1,664
|
|
||
Retained earnings
|
2,174
|
|
|
2,066
|
|
||
Shares in deferred compensation trust
|
(10
|
)
|
|
(9
|
)
|
||
Total common equity
|
3,859
|
|
|
3,721
|
|
||
Total liabilities and equity
|
|
$4,356
|
|
|
|
$4,135
|
|
|
Year Ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(in millions)
|
||||||||||
Net cash flows from operating activities
|
|
$254
|
|
|
|
$262
|
|
|
|
$246
|
|
Cash flows from (used for) investing activities:
|
|
|
|
|
|
|
|
|
|||
Capital contributions to consolidated subsidiaries
|
(250
|
)
|
|
(165
|
)
|
|
(90
|
)
|
|||
Capital repayments from consolidated subsidiaries
|
130
|
|
|
—
|
|
|
50
|
|
|||
Net change in notes receivable from and payable to affiliates
|
294
|
|
|
2
|
|
|
(23
|
)
|
|||
Other
|
10
|
|
|
—
|
|
|
—
|
|
|||
Net cash flows from (used for) investing activities
|
184
|
|
|
(163
|
)
|
|
(63
|
)
|
|||
Cash flows used for financing activities:
|
|
|
|
|
|
|
|
|
|||
Common stock dividends
|
(267
|
)
|
|
(247
|
)
|
|
(226
|
)
|
|||
Proceeds from issuance of common stock, net
|
27
|
|
|
151
|
|
|
—
|
|
|||
Proceeds from issuance of long-term debt
|
—
|
|
|
—
|
|
|
250
|
|
|||
Payments to retire long-term debt
|
(250
|
)
|
|
—
|
|
|
(250
|
)
|
|||
Net change in commercial paper
|
52
|
|
|
(1
|
)
|
|
45
|
|
|||
Other
|
—
|
|
|
(2
|
)
|
|
(2
|
)
|
|||
Net cash flows used for financing activities
|
(438
|
)
|
|
(99
|
)
|
|
(183
|
)
|
|||
Net decrease in cash and cash equivalents
|
—
|
|
|
—
|
|
|
—
|
|
|||
Cash and cash equivalents at beginning of period
|
—
|
|
|
—
|
|
|
—
|
|
|||
Cash and cash equivalents at end of period
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
Supplemental cash flows information:
|
|
|
|
|
|
|
|
|
|||
Cash paid during the period for:
|
|
|
|
|
|
|
|
|
|||
Interest, net of capitalized interest
|
|
($3
|
)
|
|
|
($3
|
)
|
|
|
($11
|
)
|
Income taxes, net
|
(37
|
)
|
|
(9
|
)
|
|
(5
|
)
|
|
|
|
|
Additions
|
|
|
|
|
Balance,
|
Charged to
|
Charged to Other
|
|
Balance,
|
||
Description
|
January 1
|
Expense
|
Accounts (a)
|
Deductions (b)
|
December 31
|
||
|
(in millions)
|
|
Accumulated Provision for Uncollectible Accounts:
|
|
|
|
|
|||||||||||||
|
|
Alliant Energy (c)
|
|
|
|
|
|
|||||||||||
|
|
|
Year ended December 31, 2016
|
|
$4.8
|
|
|
$17.4
|
|
|
$8.8
|
|
|
$22.3
|
|
|
$8.7
|
|
|
|
|
Year ended December 31, 2015
|
5.1
|
|
8.1
|
|
3.0
|
|
11.4
|
|
4.8
|
|
|||||
|
|
|
Year ended December 31, 2014
|
4.8
|
|
11.7
|
|
4.1
|
|
15.5
|
|
5.1
|
|
|||||
|
|
IPL (c)
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2016
|
|
$0.6
|
|
|
$17.2
|
|
|
$—
|
|
|
$16.7
|
|
|
$1.1
|
|
|
|
|
Year ended December 31, 2015
|
0.4
|
|
8.1
|
|
—
|
|
7.9
|
|
0.6
|
|
|||||
|
|
|
Year ended December 31, 2014
|
0.7
|
|
11.5
|
|
—
|
|
11.8
|
|
0.4
|
|
|||||
|
|
WPL
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2016
|
|
$3.7
|
|
|
$0.1
|
|
|
$8.8
|
|
|
$5.5
|
|
|
$7.1
|
|
|
|
|
Year ended December 31, 2015
|
4.2
|
|
—
|
|
3.0
|
|
3.5
|
|
3.7
|
|
|||||
|
|
|
Year ended December 31, 2014
|
1.7
|
|
—
|
|
4.1
|
|
1.6
|
|
4.2
|
|
|
Accumulated Provision for Other Reserves (d):
|
|||||||||||||||||
|
|
Alliant Energy
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2016
|
|
$27.1
|
|
|
$6.1
|
|
|
$—
|
|
|
$8.1
|
|
|
$25.1
|
|
|
|
|
Year ended December 31, 2015
|
32.6
|
|
6.5
|
|
—
|
|
12.0
|
|
27.1
|
|
|||||
|
|
|
Year ended December 31, 2014
|
38.2
|
|
12.5
|
|
—
|
|
18.1
|
|
32.6
|
|
|||||
|
|
IPL
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2016
|
|
$9.4
|
|
|
$1.0
|
|
|
$—
|
|
|
$1.7
|
|
|
$8.7
|
|
|
|
|
Year ended December 31, 2015
|
10.6
|
|
2.1
|
|
—
|
|
3.3
|
|
9.4
|
|
|||||
|
|
|
Year ended December 31, 2014
|
18.1
|
|
3.9
|
|
—
|
|
11.4
|
|
10.6
|
|
|||||
|
|
WPL
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2016
|
|
$11.4
|
|
|
$1.8
|
|
|
$—
|
|
|
$5.1
|
|
|
$8.1
|
|
|
|
|
Year ended December 31, 2015
|
16.3
|
|
0.7
|
|
—
|
|
5.6
|
|
11.4
|
|
|||||
|
|
|
Year ended December 31, 2014
|
16.2
|
|
2.5
|
|
—
|
|
2.4
|
|
16.3
|
|
(a)
|
Accumulated provision for uncollectible accounts: In accordance with its regulatory treatment, certain amounts provided by WPL are recorded in regulatory assets. WPL expenses these amounts when an uncollectible account is written-off.
|
(b)
|
Deductions are of the nature for which the reserves were created. In the case of the accumulated provision for uncollectible accounts, deductions from this reserve are reduced by recoveries of amounts previously written off.
|
(c)
|
Refer to
Note 5(b)
for discussion of IPL’s sales of accounts receivable program.
|
(d)
|
Other reserves are largely related to injury and damage claims arising in the ordinary course of business.
|
ALLIANT ENERGY
|
|
INTERSTATE POWER
|
|
WISCONSIN POWER
|
CORPORATION
|
|
AND LIGHT COMPANY
|
|
AND LIGHT COMPANY
|
By:
/s/ Patricia L. Kampling
|
|
By:
/s/ Patricia L. Kampling
|
|
By:
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
|
Patricia L. Kampling
|
|
Patricia L. Kampling
|
Chairman, President and Chief Executive Officer
|
|
Chairman and Chief Executive Officer
|
|
Chairman and Chief Executive Officer
|
ALLIANT ENERGY
|
|
INTERSTATE POWER
|
|
WISCONSIN POWER
|
CORPORATION
|
|
AND LIGHT COMPANY
|
|
AND LIGHT COMPANY
|
By:
/s/ Patricia L. Kampling
|
|
By:
/s/ Patricia L. Kampling
|
|
By:
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
|
Patricia L. Kampling
|
|
Patricia L. Kampling
|
Chairman, President, Chief Executive Officer and Director (Principal Executive Officer)
|
|
Chairman, Chief Executive Officer and Director (Principal Executive Officer)
|
|
Chairman, Chief Executive Officer and Director (Principal Executive Officer)
|
|
|
|
|
|
/s/ Robert J. Durian
|
|
/s/ Robert J. Durian
|
|
/s/ Robert J. Durian
|
Robert J. Durian
|
|
Robert J. Durian
|
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer (Principal Financial Officer)
|
|
Vice President, Chief Financial Officer and Treasurer (Principal Financial Officer)
|
|
Vice President, Chief Financial Officer and Treasurer (Principal Financial Officer)
|
|
|
|
|
|
/s/ Benjamin M. Bilitz
|
|
/s/ Benjamin M. Bilitz
|
|
/s/ Benjamin M. Bilitz
|
Benjamin M. Bilitz
|
|
Benjamin M. Bilitz
|
|
Benjamin M. Bilitz
|
Chief Accounting Officer and Controller (Principal Accounting Officer)
|
|
Chief Accounting Officer and Controller (Principal Accounting Officer)
|
|
Chief Accounting Officer and Controller (Principal Accounting Officer)
|
|
|
|
|
|
/s/ Patrick E. Allen
|
|
/s/ Patrick E. Allen
|
|
/s/ Patrick E. Allen
|
Patrick E. Allen, Director
|
|
Patrick E. Allen, Director
|
|
Patrick E. Allen, Director
|
|
|
|
|
|
/s/ Michael L. Bennett
|
|
/s/ Michael L. Bennett
|
|
/s/ Michael L. Bennett
|
Michael L. Bennett, Director
|
|
Michael L. Bennett, Director
|
|
Michael L. Bennett, Director
|
|
|
|
|
|
/s/ Deborah B. Dunie
|
|
/s/ Deborah B. Dunie
|
|
/s/ Deborah B. Dunie
|
Deborah B. Dunie, Director
|
|
Deborah B. Dunie, Director
|
|
Deborah B. Dunie, Director
|
|
|
|
|
|
/s/ Darryl B. Hazel
|
|
/s/ Darryl B. Hazel
|
|
/s/ Darryl B. Hazel
|
Darryl B. Hazel, Director
|
|
Darryl B. Hazel, Director
|
|
Darryl B. Hazel, Director
|
|
|
|
|
|
/s/ Singleton B. McAllister
|
|
/s/ Singleton B. McAllister
|
|
/s/ Singleton B. McAllister
|
Singleton B. McAllister, Director
|
|
Singleton B. McAllister, Director
|
|
Singleton B. McAllister, Director
|
|
|
|
|
|
/s/ Thomas F. O’Toole
|
|
/s/ Thomas F. O’Toole
|
|
/s/ Thomas F. O’Toole
|
Thomas F. O’Toole, Director
|
|
Thomas F. O’Toole, Director
|
|
Thomas F. O’Toole, Director
|
|
|
|
|
|
/s/ Dean C. Oestreich
|
|
/s/ Dean C. Oestreich
|
|
/s/ Dean C. Oestreich
|
Dean C. Oestreich, Director
|
|
Dean C. Oestreich, Director
|
|
Dean C. Oestreich, Director
|
|
|
|
|
|
/s/ Carol P. Sanders
|
|
/s/ Carol P. Sanders
|
|
/s/ Carol P. Sanders
|
Carol P. Sanders, Director
|
|
Carol P. Sanders, Director
|
|
Carol P. Sanders, Director
|
|
|
|
|
|
/s/ Susan D. Whiting
|
|
/s/ Susan D. Whiting
|
|
/s/ Susan D. Whiting
|
Susan D. Whiting, Director
|
|
Susan D. Whiting, Director
|
|
Susan D. Whiting, Director
|
Exhibit Number
|
|
Description
|
3.1
|
|
Restated Articles of Incorporation of Alliant Energy, as amended (incorporated by reference to Exhibit 4.1 to Alliant Energy’s Registration Statement on Form S-8 (Reg. No. 333-117654))
|
3.1a
|
|
Articles of Amendment to Restated Articles of Incorporation of Alliant Energy, as amended, effective May 4, 2016 (incorporated by reference to Exhibit 3.1 to Alliant Energy’s Form 10-Q for the quarter ended March 31, 2016 (File No. 1-9894))
|
3.2
|
|
Amended and Restated Bylaws of Alliant Energy, effective May 7, 2015 (incorporated by reference to Exhibit 3.1 to Alliant Energy’s Form 8-K, filed May 13, 2015 (File No. 1-9894))
|
3.3
|
|
Amended and Restated Articles of Incorporation of WPL, effective May 9, 2013 (incorporated by reference to Exhibit 3.4 to WPL’s Form 8-K, filed May 13, 2013 (File No. 0-337))
|
3.4
|
|
Amended and Restated Bylaws of WPL, effective May 7, 2015 (incorporated by reference to Exhibit 3.3 to WPL’s Form 8-K, filed May 13, 2015 (File No. 0-337))
|
3.5
|
|
Amended and Restated Articles of Incorporation of IPL, effective May 10, 2013 (incorporated by reference to Exhibit 3.2 to IPL’s Form 8-K, filed May 13, 2013 (File No. 1-4117))
|
3.6
|
|
Amended and Restated Bylaws of IPL, effective May 7, 2015 (incorporated by reference to Exhibit 3.2 to IPL’s Form 8-K, filed May 13, 2015 (File No. 1-4117))
|
4.1
|
|
Third Amended and Restated Five Year Credit Agreement, dated December 14, 2011, among Alliant Energy and the Banks set forth therein (incorporated by reference to Exhibit 99.1 to Alliant Energy’s Form 8-K, filed December 19, 2011 (File No. 1-9894))
|
4.2
|
|
Senior Note Indenture, dated as of September 30, 2009, between Alliant Energy and Wells Fargo Bank, National Association (N.A.) (incorporated by reference to Exhibit 4.28 to Alliant Energy’s Registration Statement on Form S-3 (Reg. No. 333-162214))
|
4.3
|
|
Amended and Restated Rights Agreement, dated as of December 11, 2008, between Alliant Energy and Wells Fargo Bank, N.A. (incorporated by reference to Exhibit 4.1 to Alliant Energy’s Registration Statement on Form 8-A/A, filed December 12, 2008 (File No. 1-9894))
|
4.4
|
|
Third Amended and Restated Five Year Credit Agreement, dated December 14, 2011, among WPL and the Banks set forth therein (incorporated by reference to Exhibit 99.3 to WPL’s Form 8-K, filed December 19, 2011 (File No. 0-337))
|
4.5
|
|
Indenture, dated as of June 20, 1997, between WPL and Wells Fargo Bank, N.A., Successor, as Trustee (incorporated by reference to Exhibit 4.33 to Amendment No. 2 to WPL’s Registration Statement on Form S-3 (Reg. No. 033-60917))
|
4.6
|
|
Officers’ Certificate, dated as of July 28, 2004, creating WPL’s 6.25% Debentures due July 31, 2034 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed August 2, 2004 (File No. 0-337))
|
4.7
|
|
Officers’ Certificate, dated as of August 8, 2007, creating WPL’s 6.375% Debentures due August 15, 2037 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed August 9, 2007 (File No. 0-337))
|
4.8
|
|
Officer’s Certificate, dated as of October 1, 2008, creating WPL’s 7.60% Debentures due October 1, 2038 (incorporated by reference to Exhibit 4.2 to WPL’s Form 8-K, filed October 2, 2008 (File No. 0-337))
|
4.9
|
|
Officers’ Certificate, dated as of July 7, 2009, creating WPL’s 5.00% Debentures due July 15, 2019 (incorporated by reference to Exhibit 4.2 to WPL’s Form 8-K, filed July 8, 2009 (File No. 0-337))
|
4.10
|
|
Officers’ Certificate, dated as of June 10, 2010, creating WPL’s 4.60% Debentures due June 15, 2020 (incorporated by reference to Exhibit 4.2 to WPL’s Form 8-K, filed June 11, 2010 (File No. 0-337))
|
4.11
|
|
Officers’ Certificate, dated as of November 19, 2012, creating WPL’s 2.25% Debentures due November 15, 2022 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed November 19, 2012 (File No. 0-337))
|
4.12
|
|
Officers’ Certificate, dated as of October 14, 2014, creating WPL’s 4.10% Debentures due October 15, 2044 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed October 14, 2014 (File No. 0-337))
|
4.13
|
|
Third Amended and Restated Five Year Credit Agreement, dated December 14, 2011, among IPL and the Banks set forth therein (incorporated by reference to Exhibit 99.2 to IPL’s Form 8-K, filed December 19, 2011 (File No. 1-4117))
|
Exhibit Number
|
|
Description
|
4.14
|
|
Indenture (For Senior Unsecured Debt Securities), dated as of August 20, 2003, between IPL and The Bank of New York Mellon Trust Co., N.A. (f/k/a The Bank of New York Trust Co., N.A.), as Trustee (incorporated by reference to Exhibit 4.11 to IPL’s Registration Statement on Form S-3 (Reg. No. 333-108199))
|
4.15
|
|
Officer’s Certificate, dated as of September 10, 2003, creating IPL’s 5.875% Senior Debentures due September 15, 2018 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed September 11, 2003 (File No. 1-4117))
|
4.16
|
|
Officer’s Certificate, dated as of October 14, 2003, creating IPL’s 6.45% Senior Debentures due October 15, 2033 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed October 15, 2003 (File No. 1-4117))
|
4.17
|
|
Officer’s Certificate, dated as of May 3, 2004, creating IPL’s 6.30% Senior Debentures due May 1, 2034 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed May 5, 2004 (File No. 1-4117))
|
4.17a
|
|
Officer’s Certificate, dated as of August 2, 2004, reopening IPL’s 6.30% Senior Debentures due May 1, 2034 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed August 5, 2004 (File No. 1-4117))
|
4.18
|
|
Officer’s Certificate, dated as of July 18, 2005, creating IPL’s 5.50% Senior Debentures due July 15, 2025 (incorporated by reference to Exhibit 4 to IPL’s Form 8-K, filed July 19, 2005 (File No. 1-4117))
|
4.19
|
|
Officer’s Certificate, dated as of October 1, 2008, creating IPL’s 7.25% Senior Debentures due October 1, 2018 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed October 2, 2008 (File No. 1-4117))
|
4.20
|
|
Officer’s Certificate, dated as of July 7, 2009, creating IPL’s 6.25% Senior Debentures due July 15, 2039 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed July 8, 2009 (File No. 1-4117))
|
4.21
|
|
Officer’s Certificate, dated as of August 23, 2010, creating IPL’s 3.65% Senior Debentures due September 1, 2020 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed August 24, 2010 (File No. 1-4117))
|
4.22
|
|
Officer’s Certificate, dated as of October 8, 2013, creating IPL’s 4.70% Senior Debentures due October 15, 2043 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed October 8, 2013 (File No. 1-4117))
|
4.23
|
|
Officer’s Certificate, dated as of November 24, 2014, creating IPL’s 3.25% Senior Debentures due December 1, 2024 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed November 24, 2014 (File No. 1-4117))
|
4.24
|
|
Officer’s Certificate, dated as of August 18, 2015, creating IPL’s 3.40% Senior Debentures due August 15, 2025 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed August 18, 2015 (File No. 1-4117))
|
4.25
|
|
Officer’s Certificate, dated as of September 15, 2016, creating IPL’s 3.70% Senior Debentures due September 15, 2046 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed September 15, 2016 (File No. 1-4117))
|
4.26
|
|
Form of Preferred Stock Certificate of IPL (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed March 20, 2013 (File No. 1-4117))
|
10.1
|
|
Operating Agreement of ATC, dated as of January 1, 2001 (incorporated by reference to Exhibit 10.16 to WPL’s Form 10-K for the year 2000 (File No. 0-337))
|
10.2
|
|
Term Loan Credit Agreement, dated as of October 7, 2016, among AEF, Alliant Energy, JPMorgan Chase Bank, N.A. and the lender parties set forth therein (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed October 7, 2016 (File No. 1-9894))
|
10.3#
|
|
OIP (incorporated by reference to Appendix A to Alliant Energy’s definitive proxy statement filed on Schedule 14A on April 1, 2010 (File No. 1-9894))
|
10.3a#
|
|
Amendment to the OIP (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.3b#
|
|
Form of Performance Share Agreement pursuant to the OIP, amended in 2012 (incorporated by reference to Exhibit 10.4c to Alliant Energy’s Form 10-K for the year 2011 (File No. 1-9894))
|
10.3c#
|
|
Form of Performance Share Agreement amended in 2015, pursuant to the OIP, amended in 2012 (incorporated by reference to Exhibit 10.3c to Alliant Energy’s Form 10-K for the year 2014 (File No. 1-9894))
|
10.3d#
|
|
Form of Performance Contingent Restricted Stock Agreement pursuant to the OIP, amended in 2012 (incorporated by reference to Exhibit 10.4e to Alliant Energy’s Form 10-K for the year 2011 (File No. 1-9894))
|
10.3e#
|
|
Form of Performance Contingent Restricted Stock Agreement amended in 2015, pursuant to the OIP, amended in 2012 (incorporated by reference to Exhibit 10.3e to Alliant Energy’s Form 10-K for the year 2014 (File No. 1-9894))
|
10.4#
|
|
Amended and Restated OIP, amended in 2015 (incorporated by reference to Appendix A to Alliant Energy’s definitive proxy statement filed on Schedule 14A on March 24, 2015 (File No. 1-9894))
|
10.4a#
|
|
Form of Performance Share Agreement pursuant to the Amended and Restated OIP, amended in 2015 (incorporated by reference to Exhibit 10.4a to Alliant Energy’s Form 10-K for the year 2015 (File No. 1-9894))
|
10.4b#
|
|
Form of Restricted Stock Unit Agreement pursuant to the Amended and Restated OIP, amended in 2015 (incorporated by reference to Exhibit 10.4b to Alliant Energy’s Form 10-K for the year 2015 (File No. 1-9894))
|
Exhibit Number
|
|
Description
|
10.4c#
|
|
Form of Performance Restricted Stock Unit Agreement pursuant to the Amended and Restated OIP, amended in 2015 (incorporated by reference to Exhibit 10.4c to Alliant Energy’s Form 10-K for the year 2015 (File No. 1-9894))
|
10.5#
|
|
DLIP, for director-level employees, amended in 2012 (incorporated by reference to Exhibit 10.5c to Alliant Energy’s Form 10-K for the year 2011 (File No. 1-9894))
|
10.5a#
|
|
Form of Restricted Cash Agreement pursuant to the DLIP, amended in 2012 (incorporated by reference to Exhibit 10.5d to Alliant Energy’s Form 10-K for the year 2011 (File No. 1-9894))
|
10.5b#
|
|
Form of Performance Restricted Award Agreement pursuant to the DLIP, amended in 2012 (incorporated by reference to Exhibit 10.5e to Alliant Energy’s Form 10-K for the year 2011 (File No. 1-9894))
|
10.6#
|
|
DLIP, for director-level employees, amended in 2016
|
10.6a#
|
|
Form of Performance Unit Agreement pursuant to the DLIP, amended in 2016
|
10.6b#
|
|
Form of Performance Restricted Unit Agreement pursuant to the DLIP, amended in 2016
|
10.6c#
|
|
Form of Restricted Unit Agreement pursuant to the DLIP, amended in 2016
|
10.7#
|
|
DCP, as amended and restated effective January 1, 2011 (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed December 14, 2010 (File No. 1-9894))
|
10.7a#
|
|
Amendment to the DCP, as amended and restated (incorporated by reference to Exhibit 10.2 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.8#
|
|
IES Industries Inc. Amended and Restated Key Employee Deferred Compensation Agreement, as amended (incorporated by reference to Exhibit 10.7 to Alliant Energy’s Form 10-K for the year 2015 (File No. 1-9894))
|
10.9#
|
|
Alliant Energy Rabbi Trust Agreement for DCPs (incorporated by reference to Exhibit 10.19 to Alliant Energy’s Form 10-K for the year 2005 (File No. 1-9894))
|
10.9a#
|
|
Amendment to the Alliant Energy Rabbi Trust Agreement for DCPs (incorporated by reference to Exhibit 10.2 to Alliant Energy’s Form 10-Q for the quarter ended June 30, 2015 (File No. 1-9894))
|
10.9b#
|
|
Second Amendment to the Alliant Energy Rabbi Trust Agreement for DCPs (incorporated by reference to Exhibit 10.3 to Alliant Energy’s Form 10-Q for the quarter ended June 30, 2015 (File No. 1-9894))
|
10.10#
|
|
Alliant Energy Excess Retirement Plan (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 10-Q for the quarter ended September 30, 2008 (File No. 1-9894))
|
10.10a#
|
|
Amendment to the Alliant Energy Excess Retirement Plan (incorporated by reference to Exhibit 10.4 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.11#
|
|
Form of Supplemental Retirement Plan (SRP) Agreement by and between Alliant Energy and each of T.L. Hanson, P.L. Kampling and J.O. Larsen (incorporated by reference to Exhibit 10.3 to Alliant Energy’s Form 8-K, filed December 12, 2008 (File No. 1-9894))
|
10.12#
|
|
Alliant Energy Defined Contribution SRP (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 10-Q for the quarter ended September 30, 2010 (File No. 1-9894))
|
10.12a#
|
|
Amendment to the Alliant Energy Defined Contribution SRP (incorporated by reference to Exhibit 10.3 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.12b#
|
|
Amendment to the Alliant Energy Defined Contribution SRP (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed March 12, 2014 (File No. 1-9894))
|
10.13#
|
|
Form of Key Executive Employment and Severance Agreement (KEESA), by and between Alliant Energy and P.L. Kampling (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed October 29, 2010 (File No. 1-9894))
|
10.14#
|
|
Form of KEESA, by and between Alliant Energy and each of J.H. Gallegos, T.L. Hanson, D.R. Kopp, J.O. Larsen, W.A. Reschke and R.J. Durian (incorporated by reference to Exhibit 10.3 to Alliant Energy’s Form 10-Q for the quarter ended June 30, 2008 (File No. 1-9894))
|
10.14a#
|
|
Form of Amendment to KEESA, by and between Alliant Energy and each of J.H. Gallegos, T.L. Hanson, D.R. Kopp, J.O. Larsen, W.A. Reschke and R.J. Durian (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 10-Q for the quarter ended September 30, 2015 (File No. 1-9894))
|
10.15#
|
|
Form of Amendment Number One to KEESA, by and between Alliant Energy and each of P.L. Kampling, J.H. Gallegos, T.L. Hanson, D.R. Kopp, J.O. Larsen, W.A. Reschke and R.J. Durian (incorporated by reference to Exhibit 10.6 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.16#
|
|
Executive Severance Benefit under the Alliant Energy Severance Plan Summary Plan Description, effective March 19, 2008 (incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K, filed March 24, 2008 (File No. 1-9894))
|
10.16a#
|
|
Amendment to the Executive Severance Benefit under the Alliant Energy Severance Plan Summary Plan Description (incorporated by reference to Exhibit 10.5 to Alliant Energy’s Form 8-K, filed December 5, 2011 (File No. 1-9894))
|
10.17#
|
|
Terms of Alliant Energy Executive Performance Pay Plan (incorporated by reference to Exhibit 10.18 to Alliant Energy’s Form 10-K for the year 2015 (File No. 1-9894))
|
10.18#
|
|
Summary of Compensation and Benefits for Non-Employee Directors of Alliant Energy, IPL and WPL, effective January 1, 2017
|
12.1
|
|
Ratio of Earnings to Fixed Charges for Alliant Energy
|
Exhibit Number
|
|
Description
|
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
|
21.1
|
|
Subsidiaries of Alliant Energy
|
21.2
|
|
Subsidiaries of WPL
|
23.1
|
|
Consent of Independent Registered Public Accounting Firm for Alliant Energy
|
23.2
|
|
Consent of Independent Registered Public Accounting Firm for IPL
|
23.3
|
|
Consent of Independent Registered Public Accounting Firm for WPL
|
31.1
|
|
Certification of the Chairman, President and Chief Executive Officer for Alliant Energy
|
31.2
|
|
Certification of the Vice President, Chief Financial Officer and Treasurer for Alliant Energy
|
31.3
|
|
Certification of the Chairman and Chief Executive Officer for IPL
|
31.4
|
|
Certification of the Vice President, Chief Financial Officer and Treasurer for IPL
|
31.5
|
|
Certification of the Chairman and Chief Executive Officer for WPL
|
31.6
|
|
Certification of the Vice President, Chief Financial Officer and Treasurer for WPL
|
32.1
|
|
Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for Alliant Energy
|
32.2
|
|
Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for IPL
|
32.3
|
|
Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for WPL
|
101.INS
|
|
Extensible Business Reporting Language (XBRL) Instance Document
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
1.
|
Award
. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted
[DPU target award units]
target DPUs on the Award Date.
|
2.
|
Performance Period; Performance Contingency
|
(a)
|
The “Performance Period” is the period beginning on __________, 20___ and ending on __________, 20___.
|
(b)
|
Except as otherwise provided in this Agreement (including Section 9 below), the DPUs will become earned in accordance with the provisions of
Exhibit 1,
which is attached to and forms a part of this Agreement. Any unearned DPUs automatically will terminate and be cancelled, without the payment of any consideration following the last day of the Performance Period. The term
“Performance Contingency”
will have the meaning assigned to such term in Exhibit 1.
|
3.
|
Settlement of Award
. The Award shall be paid in cash in an amount determined in accordance with Exhibit 1, which is attached to and forms part of this Agreement.
|
4.
|
Time of Payment
. Except as otherwise provided in this Agreement (including Section 9 below), payment of DPUs earned, in accordance with the provisions of Section 3, will be delivered as soon as practicable (but in any event within 75 days) following the last day of the Performance Period set forth in Section 2(a), subject to the Total Compensation Committee (the “
Committee
”) certifying in writing as to the satisfaction of the Performance Contingency.
|
5.
|
Retirement, Disability, or Death During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to Change in Control because of the Employee’s Retirement, Disability, or death, the Employee shall be entitled to the full value of the DPUs earned, determined at the end of the Performance Period so long as the termination event occurs after the end of the first performance year of the Performance Period and only if and to the extent the Performance Contingencies are met. If the termination event occurs during the first year of the Performance Period, the Employee will be entitled to a prorated value of the DPUs, earned in accordance with
Exhibit 1
, determined at the end of the
|
6.
|
Involuntary Termination Without Cause During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of Involuntary Termination without Cause, the Employee shall be entitled to the prorated value of the award, determined at the end of the Performance Period and only if and to the extent the Performance Contingency is met, based on the ratio of the number of months the Employee was employed during the Performance Period to the total number of months in the Performance Period which is 36.
|
7.
|
Other Terminations of Employment
. If the Employee’s employment with the Company and its Affiliates terminates prior to payment of the Award and prior to a Change in Control for any reason other than the Employee’s Retirement, Disability, Involuntary Termination without Cause, or death, or if the Employee is no longer in good standing with the Company prior to payment of the award for any reason, the Award made under this Agreement will terminate and be cancelled on the date of such termination of employment.
|
8.
|
Dividend Equivalents
|
(a)
|
After the Performance Period has ended (or, if a Change in Control occurs during the Performance Period, the effective date of the Change in Control), dividend equivalents (“
Dividend Equivalents
”) will be calculated and credited to the account of the Employee with respect to the percentage of the DPUs that is earned. Dividend Equivalents will be credited as additional DPUs, the number of which will be equal to the number of whole DPUs that could be purchased with the amount of the Dividend Equivalents, based on the Fair Market Value of the Shares as of the dividend payment date and the number of earned DPUs (as determined in accordance with Section 3 or Section 9(a)(i), as applicable).
|
(b)
|
Any Dividend Equivalents credited to the Employee’s account pursuant to this Section 8 shall not be vested or paid until the dates of vesting or payment of the Award with respect to which such Dividend Equivalents are credited, and such Dividend Equivalents shall be subject to the same restrictions and other terms and conditions as apply to the DPUs with respect to which they were credited.
|
(c)
|
No Dividend Equivalents shall be credited to the Employee with respect to record dates occurring prior to the Grant Date or with respect to record dates occurring on or after the date, if any, on which the DPUs are cancelled and terminated.
|
9.
|
Change in Control
.
|
(a)
|
No Termination of Employment Prior to a Change in Control
.
|
(i)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, if a Change in Control occurs during the Performance Period and the Employee’s employment does not terminate before the effectiveness of the Change in Control, then the earned portion of the earned DPUs automatically will convert into a contractual right to receive a cash payment (the “
Cash Payment Right
”) in an amount equal to (i) the earned portion of DPUs, multiplied by (ii) the per Share Fair Market Value as of the trading day immediately preceding the effective date of the Change in Control. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to a Cash Payment Right. For purposes of this Section 9 (a), a “pro rata portion of the DPUs” means the number of DPUs that would have been earned by the Employee in accordance with Exhibit 1 assuming that the percentage of DPUs earned for the Performance Period equals 100%, multiplied by a fraction, the numerator of which is the number of months the Employee is employed during the Performance Period through the day immediately preceding the effective date of the Change in Control and the denominator of which is 36. Any portion of the DPUs that is not converted into the Cash Payment Right automatically shall terminate and be cancelled immediately prior to the effectiveness of the Change in Control, without the payment of any consideration therefor.
|
(ii)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, the Cash Payment Right shall be paid as soon as practicable (but in any event within 75 days) after the last day of the Performance Period set forth in Section 2(a), provided that the Employee remains continuously employed by the Company or an Affiliate or any successor thereto through the last day of such Performance Period. Notwithstanding the immediately preceding sentence, in the event that the Employee experiences a termination of employment due to the Employee’s Retirement (as defined below), Disability, or death or an involuntary termination of employment by action of the Company (or its successor) (other than a termination due to Cause) prior to the last day of the Performance Period set forth in Section 2(a), the Cash Payment Right will be paid in accordance with the first sentence of this Section 9 (a)(ii) as though the Employee remained continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Performance Period.
|
(b)
|
Certain Terminations of Employment Prior to a Change in Control
. Solely for purposes of Sections 5 and 6 of the Agreement, if the Employee’s employment terminates for any of the reasons set forth in such Sections 5 and 6 prior to a Change in Control and a Change in Control occurs during the Performance Period, the day immediately preceding the effective date of the Change in Control shall be deemed to be the last day of the Performance Period, then the Employee shall be entitled to the earned DPUs in lieu of any amount set forth in Section 5 or Section 6, as applicable, which DPUs automatically shall convert into the Cash Payment Right. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right. For the avoidance of doubt, the Cash Payment Right will be paid at such time provided under Section 4.
|
10.
|
Definitions
. The following sets forth definitions of certain terms used in this Agreement:
|
(a)
|
“
Involuntary Termination without Cause
” shall mean that an Employee has been notified in writing that his or her position is being eliminated or significantly altered as a result of a substantial diminishment of responsibility or salary or as a result of a structured job elimination program implemented by management of the Company.
|
(b)
|
“
Retirement
” of the Employee shall mean the Employee’s employment terminates (with the consent of the Company) after he or she has reached age 55 and the Employee’s age, in whole years, added to the number of whole years of the Employee’s continuous employment with the Company total 65 or greater.
|
11.
|
Nontransferability of DPUs
. The DPUs shall not be assignable, alienable, saleable or transferable by the Employee other than by will or the laws of descent and distribution prior to settlement of the DPUs pursuant to Section 3 (or, if applicable, Section 9);
provided
,
however
, that the Employee shall be entitled, in the manner provided in Section 13 hereof, to designate a beneficiary to receive any DPUs or cash issuable with respect to the DPUs upon the death of the Employee.
|
12.
|
Tax Withholding
. The Company may deduct and withhold from any cash payable to the Employee, pursuant to the Award or otherwise, such amount as may be required for the purpose of satisfying the Company’s obligation to withhold federal, state or local taxes. Further, in the event the amount so withheld is insufficient for such purpose, the Company may require that the Employee pay to the Company upon its demand or otherwise make arrangements satisfactory to the Company for payment of, such amount as may be requested by the Company in order to satisfy its obligation to withhold any such taxes.
|
13.
|
Designation of Beneficiary
. The Employee shall be permitted to designate one or more beneficiaries (each, a “
Beneficiary
”) on a Company-approved form who shall be entitled to payouts hereunder, to the extent payouts are made, after the death of the Employee. The terms and conditions of any such designation (including any changes thereto by the Employee) shall be subject to the terms and conditions of such Company-approved beneficiary designation form. If no such beneficiary designation is in effect at the time of the Employee’s death, or if no designated Beneficiary survives the Employee or if such designation conflicts with law, the Employee’s estate acting through his or her legal representative shall be entitled to receive payouts hereunder, to the extent they are made, after the death of the Employee. If the Committee is in doubt as to the right of any person to the DPUs or any payout thereunder, the Company may refuse to settle such matter, without liability for any interest or dividends on the DPUs, until the Committee determines the person entitled to the Award or any payout thereunder, or the Company may apply to any court of appropriate jurisdiction and such application shall be a complete discharge of the liability of the Company therefor.
|
14.
|
Status of Employee
. Neither the Plan nor the DPUs shall confer upon the Employee any right to continue as an employee of the Company or any of its Affiliates, nor to interfere in any way with the right of the Company to terminate the employment or directorship of the Employee at any time.
|
15.
|
Powers of the Company Not Affected
. The existence of the DPUs shall not affect in any way the right or power of the Company or its shareowners to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred or prior preference stock senior to or affecting the Common Stock or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business or any other corporate act or proceeding, whether of a similar character or otherwise.
|
16.
|
Interpretation by the Committee
. As a condition of the granting of the DPUs, the Employee agrees, for himself or herself and for his or her legal representatives or guardians, that this Agreement shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Agreement and any determination made by the Committee pursuant to this Agreement shall be final, binding and conclusive.
|
17.
|
Miscellaneous
.
|
(a)
|
This Agreement shall be governed and construed in accordance with the internal laws of the State of Wisconsin applicable to contracts made and to be performed therein between residents thereof. As a condition of the granting of the Award, the Employee irrevocably consents to the nonexclusive jurisdiction and venue of the state and federal courts located in the State of Wisconsin.
|
(b)
|
The Plan and this Agreement set forth the entire understanding between the Company and the Employee with respect to the subject matter hereof and shall supersede in all respects, and the Employee hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter, including, but not limited to, any Key Executive Employment and Severance Agreement. For the avoidance of doubt, the Plan and this Agreement shall control in the event there is any express conflict between the Plan and this Agreement and any prior or other agreement or understanding between the parties.
|
(c)
|
This Agreement may not be amended or modified except by the written consent of the parties hereto. Notwithstanding the foregoing, the Committee need not obtain Employee (or other interested party) consent for any such action: (i) to the extent the action is deemed necessary by the Committee to comply with any applicable law; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment for the Company of any Award; or (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest of the affected Employee.
|
(d)
|
The captions of this Agreement are inserted for convenience of reference only and shall not be taken into account in construing this Agreement.
|
1.
|
Purpose
: The purpose of this Exhibit 1 is to set forth the Performance Contingency that will be applied to determine the amount of the Award to be made under the terms of the attached Director Performance Unit Award Agreement (the
“Agreement”
). This Exhibit 1 is incorporated into and forms a part of the Agreement.
|
[NAME]
|
[YEAR]
|
Date of Award
|
[MONTH] [DAY], [YEAR]
|
Award Date Fair Market Value
|
$X
|
Performance Unit Award Target
|
[Number of Units]
|
Performance Period
|
_______, 20__ through ________, 20__
|
2.
|
Performance Contingency
: Each performance unit award will be based on the Company’s Total Shareholder Return (TSR) performance (which represents stock price appreciation plus dividends reinvested) based on the three-year average relative to an investor-owned utility peer group. The peer group is defined as companies that comprise the Edison Electric Institute (EEI) Stock Index.
|
3.
|
Amount of Award
: Actual awards will be based on company performance as specified above, and can range from 0 to 200 percent of target. The number of DPUs earned by the Employee shall be determined in accordance with the following schedule:
|
3-yr Total Shareholder Return - Percentile Relative to Peer Group*
|
Percentage of DPUs Earned
|
90
th
percentile or greater
|
200%
|
80
th
Percentile
|
175%
|
70
th
Percentile
|
150%
|
60
th
Percentile
|
125%
|
50
th
Percentile
|
100%
|
45
th
Percentile
|
75%
|
40
th
Percentile
|
50%
|
Below 40
th
Percentile
|
0%
|
1.
|
Award
. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted
[DPRU target award units]
target DPRUs on the Award Date.
|
2.
|
Performance Period; Performance Contingency
|
(a)
|
The “Performance Period” is the period beginning on ________, 20__, and ending on ________, 20__.
|
(b)
|
Except as otherwise provided in this Agreement (including Section 9 below), the Award will become earned in accordance with the provisions of
Exhibit 1
, which is attached to and forms a part of this Agreement. Any unearned Award automatically will terminate and be cancelled, without the payment of any consideration following the last day of the Performance Period. The term “
Performance Contingency
” will have the meaning assigned to such term in Exhibit 1.
|
3.
|
Settlement of Award.
The Award shall be paid in cash in an amount determined in accordance with Exhibit 1, which is attached to and forms part of this Agreement.
|
4.
|
Time of Payment
. Except as otherwise provided in this Agreement (including Section 9 below), payment of Award earned, in accordance with the provisions of Section 3, will be delivered as soon as practicable (but in any event within 75 days) following the last day of the Performance Period set forth in Section 2(a), subject to the Total Compensation Committee (the “
Committee
”) certifying in writing as to the satisfaction of the Performance Contingency.
|
5.
|
Retirement, Disability, or Death During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to Change in Control because of the Employee’s Retirement, Disability, or death, the Employee shall be entitled to the full value of the Award earned, determined at the end of the Performance Period so long as the termination event occurs after the end of the first performance year of the Performance Period and only if and to the extent the Performance Contingencies are met. If the termination event occurs during the first year of the Performance Period, the Employee will be entitled to a prorated value of the award, earned in accordance with
Exhibit 1
, determined at the end of the Performance Period and only if and to the extent the Performance Contingencies are met, based on the ratio of the number of months the Employee was employed during the Performance Period divided by twelve.
|
6.
|
Involuntary Termination Without Cause During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of Involuntary Termination without Cause, the Employee shall be entitled to the prorated value of the
|
7.
|
Other Terminations of Employment
. If the Employee’s employment with the Company and its Affiliates terminates prior to payment of the Award and prior to a Change in Control for any reason other than the Employee’s Retirement, Disability, Involuntary Termination without Cause, or death, or if the Employee is no longer in good standing with the Company prior to payment of the Award for any reason, the Award made under this Agreement will terminate and be cancelled on the date of such termination of employment.
|
8.
|
Dividend Equivalents
|
(a)
|
After the Performance Period has ended (or, if a Change in Control occurs during the Performance Period, the effective date of the Change in Control), dividend equivalents (“
Dividend Equivalents
”) will be calculated and credited to the account of the Employee with respect to the percentage of DPRUs that are earned. Dividend Equivalents will be credited as additional DPRUs, the number of which will be equal to the number of whole DPRUs that could be purchased with the amount of the Dividend Equivalents, based on the Fair Market Value of the Shares as of the dividend payment date and the number of earned DPRUs (as determined in accordance with Section 3 or Section 9(a)(i), as applicable).
|
(b)
|
Any Dividend Equivalents credited to the Employee’s account pursuant to this Section 8 shall not be vested or paid until the dates of vesting or payment of the Award with respect to which such Dividend Equivalents are credited, and such Dividend Equivalents shall be subject to the same restrictions and other terms and conditions as apply to the DPRUs with respect to which they were credited.
|
(c)
|
No Dividend Equivalents shall be credited to the Employee with respect to record dates occurring prior to the Grant Date or with respect to record dates occurring on or after the date, if any, on which the DPRUs are cancelled and terminated.
|
9.
|
Change in Control
.
|
(a)
|
No Termination of Employment Prior to a Change in Control
.
|
(i)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, if a Change in Control occurs during the Performance Period and the Employee’s employment does not terminate before the effectiveness of the Change in Control, then the Employee shall be entitled to the target DPRUs, which automatically will convert into a contractual right to receive a cash payment (the
“Cash Payment Right”
) in an amount equal to (i) the number of target DPRUs (including any additional DPRUs determined in accordance with Section 8(a)), multiplied by (ii) the per Share Fair Market Value as of the trading day immediately preceding the effective date of the Change in Control. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to a Cash Payment Right. Any portion of the DPRUs that is not converted into the Cash Payment Right automatically shall terminate and be cancelled immediately prior to the effectiveness of the Change in Control, without the payment of any consideration therefor.
|
(ii)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, the Cash Payment Right shall be paid as soon as practicable (but in any event within 75 days) after the last day of the Performance Period set forth in Section 2(a), provided that the Employee remains continuously employed by the Company or an Affiliate or any successor thereto through the last day of such Performance Period. Notwithstanding the immediately preceding sentence, in the event that the Employee experiences a termination of employment due to the Employee’s Retirement (as defined below), Disability, or death or an involuntary termination of employment by action of the Company (or its successor) (other than a termination due to Cause) prior to the last day of the Performance Period set forth in Section 2(a), the Cash Payment Right will be paid in accordance with the first sentence of this Section 9(a)(ii) as though the Employee remained continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Performance Period.
|
(b)
|
Certain Terminations of Employment Prior to a Change in Control
. Solely for purposes of Sections 5 and 6 of the Agreement, if the Employee’s employment terminates for any of the reasons set forth in such Sections 5 and 6 prior to a Change in Control and a Change in Control occurs during the Performance Period, then the Employee shall be entitled to the target DPRUs in lieu of any amount set forth in Section 5 or Section 6, as applicable, which DPRUs automatically shall convert into the Cash Payment Right. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right. For the avoidance of doubt, the Cash Payment Right will be paid at such time provided under Section 4.
|
10.
|
Definitions
. The following sets forth definitions of certain terms used in this Agreement:
|
(a)
|
“
Involuntary Termination without Cause
” shall mean that an Employee has been notified in writing that his or her position is being eliminated or significantly altered as a result of a substantial diminishment of
|
(b)
|
“
Retirement
” of the Employee shall mean the Employee’s employment terminates (with the consent of the Company) after he or she has reached age 55 and the Employee’s age, in whole years, added to the number of whole years of the Employee’s continuous employment with the Company total 65 or greater.
|
11.
|
Nontransferability of DPRUs
. The DPRUs shall not be assignable, alienable, saleable or transferable by the Employee other than by will or the laws of descent and distribution prior to settlement of the Awards pursuant to Section 3 (or, if applicable, Section 9);
provided
,
however
, that the Employee shall be entitled, in the manner provided in Section 13 hereof, to designate a beneficiary to receive any DPRUs or cash issuable with respect to the Award upon the death of the Employee.
|
12.
|
Tax Withholding
. The Company may deduct and withhold from any cash payable to the Employee, pursuant to the Award or otherwise, such amount as may be required for the purpose of satisfying the Company’s obligation to withhold federal, state or local taxes. Further, in the event the amount so withheld is insufficient for such purpose, the Company may require that the Employee pay to the Company upon its demand or otherwise make arrangements satisfactory to the Company for payment of, such amount as may be requested by the Company in order to satisfy its obligation to withhold any such taxes.
|
13.
|
Designation of Beneficiary
. The Employee shall be permitted to designate one or more beneficiaries (each, a “
Beneficiary
”) on a Company-approved form who shall be entitled to payouts hereunder, to the extent they are made, after the death of the Employee. The terms and conditions of any such designation (including any changes thereto by the Employee) shall be subject to the terms and conditions of such Company-approved beneficiary designation form. If no such Beneficiary designation is in effect at the time of the Employee’s death, or if no designated Beneficiary survives the Employee or if such designation conflicts with law, the Employee’s estate acting through his or her legal representative shall be entitled to receive payouts hereunder, to the extent they are made, after the death of the Employee. If the Committee is in doubt as to the right of any person to the DPRUs or any payout thereunder, the Company may refuse to settle such matter, without liability for any interest or dividends on the DPRUs, until the Committee determines the person entitled to the DPRUs or any payout thereunder, or the Company may apply to any court of appropriate jurisdiction and such application shall be a complete discharge of the liability of the Company therefor.
|
14.
|
Status of Employee
. Neither the Plan nor the Award shall confer upon the Employee any right to continue as an employee of the Company or any of its Affiliates, nor to interfere in any way with the right of the Company to terminate the employment or directorship of the Employee at any time.
|
15.
|
Powers of the Company Not Affected
. The existence of the Award shall not affect in any way the right or power of the Company or its shareowners to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred or prior preference stock senior to or affecting the Common Stock or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business or any other corporate act or proceeding, whether of a similar character or otherwise.
|
16.
|
Interpretation by the Committee
. As a condition of the granting of the Award, the Employee agrees, for himself or herself and for his or her legal representatives or guardians, that this Agreement shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Agreement and any determination made by the Committee pursuant to this Agreement shall be final, binding and conclusive.
|
17.
|
Miscellaneous
.
|
(a)
|
This Agreement shall be governed and construed in accordance with the internal laws of the State of Wisconsin applicable to contracts made and to be performed therein between residents thereof. As a condition of the granting of the Award, the Employee irrevocably consents to the nonexclusive jurisdiction and venue of the state and federal courts located in the State of Wisconsin.
|
(b)
|
The Plan and this Agreement set forth the entire understanding between the Company and the Employee with respect to the subject matter hereof and shall supersede in all respects, and the Employee hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter, including, but not limited to, any Key Executive Employment and Severance Agreement. For the avoidance of doubt, the Plan and this Agreement shall control in the event there is any express conflict between the Plan and this Agreement and any prior or other agreement or understanding between the parties.
|
(c)
|
This Agreement may not be amended or modified except by the written consent of the parties hereto. Notwithstanding the foregoing, the Committee need not obtain Employee (or other interested party) consent for any such action: (i) to the extent the action is deemed necessary by the Committee to comply with any applicable law; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment for the Company of any Award; or (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest of the affected Employee.
|
(d)
|
The captions of this Agreement are inserted for convenience of reference only and shall not be taken into account in construing this Agreement.
|
1.
|
Purpose: The purpose of this Exhibit 1 is to set forth the Performance Contingency that will be applied to determine the amount of the DPRUs that will be earned under the terms of the attached Director Performance Restricted Unit Agreement (the
“Agreement”
). This Exhibit 1 is incorporated into and forms a part of the Agreement.
|
[NAME]
|
2016
|
Grant Date
|
[MONTH] [DAY], [YEAR]
|
Grant Date Fair Market Value
|
$_____
|
Grant Units
|
[Number of Units]
|
Performance Period
|
________, 20__ through ________, 20__
|
2.
|
Performance Contingency
: The Award will be based on the Company’s annual Net Income from Continuing Operations (“
Net Income from Continuing Operations
”). To determine whether the Performance Contingency is satisfied, Net Income from Continuing Operations will be calculated [excluding the effects of the following, if the amount is over $4,000,000 on a pre-tax basis and is not considered in the annual budget approved by the Board: (i) charges for reorganizing and restructuring; (ii) discontinued operations; (iii) asset write-downs; (iv) gains or losses on the disposition of an asset or business; (v) mergers, acquisitions or dispositions; and (vi) extraordinary, unusual and/or non-recurring items of gain or loss, that in all of the foregoing the Company identifies in its audited financial statements, including notes to the financial statements (
i.e.
, footnotes), or the Management’s Discussion and Analysis section of the Company’s periodic reports.
|
3.
|
Amount of Award
: Actual awards will be based on Company performance as specified above, and can range from 0 to 200 percent of DPRUs granted. Subject to Section 9 of the Agreement, DPRUs earned by the Employee shall be determined in accordance with the following schedule:
|
1.
|
Award
. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted
[UNITS]
DRUs on the Award Date with a vesting commencement date of __________, 20__ (the “
Vesting Commencement Date
”).
|
2.
|
Term; Vesting Schedule
.
|
(a)
|
The “
Term
” is the period beginning on the Vesting Commencement Date and ending on __________, 20__.
|
(b)
|
Except as otherwise provided in this Agreement (including Section 9 below), each DRU will become earned and vested (each a “
Vested DRU
” and, collectively, “
Vested DRUs
”) on the last day of the Term set forth in Section 2(a), if the Employee is continuously employed with the Company or any of its Affiliates through the last day of the Term.
|
3.
|
Settlement of Award
. The Award shall be paid in cash. The total amount of the Award shall be the Vested DRUs payable to the Employee multiplied by the per Share closing price of Company Stock on the last day of the Term, as reported by the New York Stock Exchange (or if not trading on that date, the per Share closing price on the last preceding date on which Shares were traded).
|
4.
|
Time of Payment
. Except as otherwise provided in this Agreement (including Section 9 below), payment of Vested DRUs will be delivered as soon as practicable (but in any event within 75 days) following the last day of the Term set forth in Section 2(a).
|
5.
|
Retirement, Disability, or Death During the Term and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Term and prior to a Change in Control because of the Employee’s Retirement (as defined below), Disability, or death, the full number of DRUs shall be treated as Vested DRUs, so long as the termination event occurs on or after the first anniversary of the Vesting Commencement Date. If the employment termination event occurs prior to the first anniversary of the Vesting Commencement Date, a pro-rated number of DRUs shall be treated as Vested DRUs, based on a fraction, the numerator of which is the number of months the Employee was employed during the Term and the denominator of which is 12. Any DRUs that do not become Vested DRUs automatically will terminate and be cancelled, without the payment of any consideration, on the date the Employee’s employment with the Company and its Affiliates terminates.
|
6.
|
Involuntary Termination Without Cause During the Term and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates after the first anniversary of the Award Date and prior to a Change in Control because of an Involuntary Termination without Cause (as defined below), a pro-rated number of
|
7.
|
Other Terminations of Employment
. If the Employee’s employment with the Company and its Affiliates terminates prior to a Change in Control for any reason other than the Employee’s Retirement, Disability, Involuntary Termination without Cause, or death, or if the Employee is no longer in good standing with the Company prior to payment of the Award for any reason, the DRUs granted under this Agreement automatically will terminate and be cancelled on the date of such termination of employment without the payment of any consideration.
|
8.
|
Dividend Equivalents
.
|
(a)
|
After the Term has ended (or, if a Change in Control occurs prior to the end of the Term, the effective date of the Change in Control), dividend equivalents (“
Dividend Equivalents
”) will be calculated and credited to the account of the Employee with respect to the number of Vested DRUs. Dividend Equivalents will be credited as additional DRUs, the number of which will be equal to the number of whole Shares that could be purchased with the amount of the Dividend Equivalents, based on the Fair Market Value of the Shares as of the dividend payment date and the number of Vested DRUs.
|
(b)
|
Any Dividend Equivalents credited to the Employee’s account pursuant to this Section 8 shall not be vested or paid until the dates of vesting or payment of the DRUs with respect to which such Dividend Equivalents are credited, and such Dividend Equivalents shall be subject to the same restrictions and other terms and conditions as apply to the DRUs with respect to which they were credited.
|
(c)
|
No Dividend Equivalents shall be credited to the Employee with respect to record dates occurring prior to the Award Date or with respect to record dates occurring on or after the date, if any, on which the DRUs are cancelled and terminated.
|
9.
|
Change in Control
.
|
(a)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, if a Change in Control occurs during the Term and the Employee’s employment does not terminate before the effectiveness of the Change in Control, then the DRUs automatically will vest and convert into a contractual right to receive a cash payment (the “
Cash Payment Right
”) in an amount equal to (i) the full number of DRUs (including any additional DRUs determined in accordance with Section 8(a)), multiplied by (ii) the per Share Fair Market Value as of the trading day immediately preceding the effective date of the Change in Control. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to a Cash Payment Right.
|
(b)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, the Cash Payment Right shall be paid as soon as practicable (but in any event within 75 days) after the last day of the Term set forth in Section 2(a), provided that the Employee remains continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Term. Notwithstanding the immediately preceding sentence, in the event that the Employee experiences a termination of employment due to the Employee’s Retirement (as defined below), Disability, or death or an involuntary termination of employment by action of the Company (or its successor) (other than a termination due to Cause) prior to the last day of the Term set forth in Section 2(a), the Cash Payment Right will be paid in accordance with the first sentence of this Section 9(b) as though the Employee remained continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Term.
|
10.
|
Definitions
.
|
(a)
|
“
Involuntary Termination without Cause
” shall mean that the Employee has been notified in writing that his or her position is being eliminated or significantly altered as a result of a substantial diminishment of responsibility or salary or as a result of a structured job elimination program implemented by management of the Company.
|
(b)
|
“
Retirement
” shall mean the Employee’s employment terminates (with the consent of the Company) after he or she has reached age 55 and the Employee’s age, in whole years, added to the number of whole years of the Employee’s continuous employment with the Company total 65 or more.
|
11.
|
Nontransferability of DRUs
. The DRUs shall not be assignable, alienable, saleable or transferable by the Employee other than by will or the laws of descent and distribution prior to settlement of the Awards pursuant to Section 3 (or, if applicable, Section 9);
provided
,
however
, that the Employee shall be entitled, in the manner provided in Section 13 hereof, to designate a beneficiary to receive any cash issuable with respect to the Award upon the death of the Employee.
|
12.
|
Tax Withholding
. The Company may deduct and withhold from any cash otherwise payable to the Employee such amount as may be required for the purpose of satisfying the Company’s obligation to withhold federal, state or local taxes. Further, in the event the amount so withheld is insufficient for such purpose, the Company may require that the
|
13.
|
Designation of Beneficiary
. The Employee shall be permitted to designate one or more beneficiaries (each, a “
Beneficiary
”) on a Company-approved form who shall be entitled to payouts hereunder, to the extent payouts are made, after the death of the Employee. The terms and conditions of any such designation (including any changes thereto by the Employee) shall be subject to the terms and conditions of such Company-approved beneficiary designation form. If no such beneficiary designation is in effect at the time of the Employee’s death, or if no designated Beneficiary survives the Employee or if such designation conflicts with law, the Employee’s estate acting through his or her legal representative shall be entitled to receive payouts hereunder, to the extent they are made, after the death of the Employee. If the Committee is in doubt as to the right of any person to the DRUs or any payout thereunder, the Company may refuse to settle such matter, without liability for any interest or dividends on the DRUs, until the Committee determines the person entitled to the DRUs or any payout thereunder, or the Company may apply to any court of appropriate jurisdiction and such application shall be a complete discharge of the liability of the Company therefor.
|
14.
|
Status of Employee
. Neither the Plan nor the Award shall confer upon the Employee any right to continue as an employee of the Company or any of its Affiliates, nor to interfere in any way with the right of the Company to terminate the employment or directorship of the Employee at any time.
|
15.
|
Powers of the Company Not Affected
. The existence of the DRUs shall not affect in any way the right or power of the Company or its shareowners to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred or prior preference stock senior to or affecting the Shares or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business or any other corporate act or proceeding, whether of a similar character or otherwise.
|
16.
|
Interpretation by the Committee
. As a condition of the granting of the DRUs, the Employee agrees, for himself or herself and for his or her legal representatives or guardians, that this Agreement shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Agreement and any determination made by the Committee pursuant to this Agreement shall be final, binding and conclusive.
|
17.
|
Miscellaneous
.
|
(a)
|
This Agreement shall be governed and construed in accordance with the internal laws of the State of Wisconsin applicable to contracts made and to be performed therein between residents thereof. As a condition of the granting of the DRUs, the Employee irrevocably consents to the nonexclusive jurisdiction and venue of the state and federal courts located in the State of Wisconsin.
|
(b)
|
The Plan and this Agreement set forth the entire understanding between the Company and the Employee with respect to the subject matter hereof and shall supersede in all respects, and the Employee hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter. For the avoidance of doubt, the Plan and this Agreement shall control in the event there is any express conflict between the Plan and this Agreement and any prior or other agreement or understanding between the parties.
|
(c)
|
This Agreement may not be amended or modified except by the written consent of the parties hereto. Notwithstanding the foregoing, the Committee need not obtain Employee (or other interested party) consent for any such action: (i) to the extent the action is deemed necessary by the Committee to comply with any applicable law; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment for the Company of any Award; (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest of the affected Employee.
|
(d)
|
The captions of this Agreement are inserted for convenience of reference only and shall not be taken into account in construing this Agreement.
|
•
|
$12,500 for the Chairperson of each of the Nominating and Governance Committee, and the Safety, Environmental, Policy and Operations Committee of the Board.
|
|
Year Ended December 31,
|
||||||||||||||
|
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||
|
(dollars in millions)
|
||||||||||||||
EARNINGS:
|
|
|
|
|
|
||||||||||
Net income from continuing operations attributable to Alliant Energy Corporation common shareowners
|
|
$373.8
|
|
|
$380.7
|
|
|
$385.5
|
|
|
$364.2
|
|
|
$324.9
|
|
Income taxes (a)
|
59.4
|
|
70.4
|
|
44.3
|
|
53.9
|
|
89.4
|
|
|||||
Subtotal
|
433.2
|
|
451.1
|
|
429.8
|
|
418.1
|
|
414.3
|
|
|||||
Fixed charges as defined
|
210.2
|
|
202.3
|
|
195.7
|
|
189.0
|
|
208.0
|
|
|||||
Adjustment for undistributed equity earnings
|
(11.3
|
)
|
(3.2
|
)
|
(4.0
|
)
|
(8.3
|
)
|
(7.1
|
)
|
|||||
Less:
|
|
|
|
|
|
||||||||||
Interest capitalized
|
0.2
|
|
1.3
|
|
1.0
|
|
0.5
|
|
6.1
|
|
|||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
11.8
|
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
|||||
Total earnings as defined
|
|
$620.1
|
|
|
$636.9
|
|
|
$609.2
|
|
|
$585.3
|
|
|
$589.0
|
|
|
|
|
|
|
|
||||||||||
FIXED CHARGES:
|
|
|
|
|
|
||||||||||
Interest expense
|
|
$196.2
|
|
|
$187.1
|
|
|
$180.6
|
|
|
$172.8
|
|
|
$156.7
|
|
Interest capitalized
|
0.2
|
|
1.3
|
|
1.0
|
|
0.5
|
|
6.1
|
|
|||||
Estimated interest component of rent expense
|
2.0
|
|
1.9
|
|
2.8
|
|
2.7
|
|
25.1
|
|
|||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
11.8
|
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
|||||
Total fixed charges as defined
|
|
$210.2
|
|
|
$202.3
|
|
|
$195.7
|
|
|
$189.0
|
|
|
$208.0
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Fixed Charges (c)
|
2.95
|
|
3.15
|
3.11
|
3.10
|
2.83
|
|
Year Ended December 31,
|
||||||||||||||
|
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||
|
(dollars in millions)
|
||||||||||||||
EARNINGS:
|
|
|
|
|
|
||||||||||
Net income
|
|
$225.8
|
|
|
$196.2
|
|
|
$191.8
|
|
|
$188.3
|
|
|
$158.3
|
|
Income tax benefit (a)
|
(5.9
|
)
|
(22.7
|
)
|
(48.9
|
)
|
(36.3
|
)
|
(27.9
|
)
|
|||||
Income before income taxes
|
219.9
|
|
173.5
|
|
142.9
|
|
152.0
|
|
130.4
|
|
|||||
Fixed charges as defined
|
103.7
|
|
97.2
|
|
91.0
|
|
82.3
|
|
79.3
|
|
|||||
Total earnings as defined
|
|
$323.6
|
|
|
$270.7
|
|
|
$233.9
|
|
|
$234.3
|
|
|
$209.7
|
|
|
|
|
|
|
|
||||||||||
FIXED CHARGES:
|
|
|
|
|
|
||||||||||
Interest expense
|
|
$103.2
|
|
|
$96.8
|
|
|
$89.9
|
|
|
$81.3
|
|
|
$78.5
|
|
Estimated interest component of rent expense
|
0.5
|
|
0.4
|
|
1.1
|
|
1.0
|
|
0.8
|
|
|||||
Total fixed charges as defined
|
|
$103.7
|
|
|
$97.2
|
|
|
$91.0
|
|
|
$82.3
|
|
|
$79.3
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Fixed Charges
|
3.12
|
|
2.78
|
|
2.57
|
|
2.85
|
|
2.64
|
|
|||||
|
|
|
|
|
|
||||||||||
Preferred dividend requirements (pre-tax basis) (b)
|
|
$9.9
|
|
|
$9.0
|
|
|
$7.6
|
|
|
$8.7
|
|
|
$10.4
|
|
|
|
|
|
|
|
||||||||||
Fixed charges and preferred dividend requirements
|
|
$113.6
|
|
|
$106.2
|
|
|
$98.6
|
|
|
$91.0
|
|
|
$89.7
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements
|
2.85
|
|
2.55
|
|
2.37
|
|
2.57
|
|
2.34
|
|
|
Year ended December 31,
|
||||||||||||||
|
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||
|
(dollars in millions)
|
||||||||||||||
EARNINGS:
|
|
|
|
|
|
||||||||||
Net income
|
|
$192.8
|
|
|
$177.6
|
|
|
$181.1
|
|
|
$179.1
|
|
|
$172.7
|
|
Income taxes (a)
|
93.3
|
|
82.9
|
|
85.3
|
|
85.6
|
|
87.6
|
|
|||||
Income before income taxes
|
286.1
|
|
260.5
|
|
266.4
|
|
264.7
|
|
260.3
|
|
|||||
Fixed charges as defined
|
92.7
|
|
93.7
|
|
87.7
|
|
86.4
|
|
103.9
|
|
|||||
Adjustment for undistributed equity earnings
|
(11.5
|
)
|
(4.5
|
)
|
(6.4
|
)
|
(8.3
|
)
|
(7.9
|
)
|
|||||
Total earnings as defined
|
|
$367.3
|
|
|
$349.7
|
|
|
$347.7
|
|
|
$342.8
|
|
|
$356.3
|
|
|
|
|
|
|
|
||||||||||
FIXED CHARGES:
|
|
|
|
|
|
||||||||||
Interest expense
|
|
$91.4
|
|
|
$92.4
|
|
|
$86.4
|
|
|
$85.0
|
|
|
$80.2
|
|
Estimated interest component of rent expense
|
1.3
|
|
1.3
|
|
1.3
|
|
1.4
|
|
23.7
|
|
|||||
Total fixed charges as defined
|
|
$92.7
|
|
|
$93.7
|
|
|
$87.7
|
|
|
$86.4
|
|
|
$103.9
|
|
|
|
|
|
|
|
||||||||||
Ratio of Earnings to Fixed Charges
|
3.96
|
|
3.73
|
|
3.96
|
|
3.97
|
|
3.43
|
|
Name of Subsidiary
|
State of Incorporation
|
|
|
Interstate Power and Light Company
|
Iowa
|
|
|
Wisconsin Power and Light Company
|
Wisconsin
|
Name of Subsidiary
|
State of Incorporation
|
|
|
WPL Transco LLC
|
Wisconsin
|
|
|
American Transmission Company LLC
|
Wisconsin
|
1.
|
I have reviewed this annual report on Form 10-K of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman, President and Chief Executive Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
1.
|
I have reviewed this annual report on Form 10-K of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
1.
|
I have reviewed this annual report on Form 10-K of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman, President and Chief Executive Officer
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|