|
|
|
|
|
|
|
|
|
|
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Commission
File Number
|
|
Name of Registrant, State of Incorporation,
Address of Principal Executive Offices and Telephone Number
|
|
IRS Employer
Identification Number
|
1-9894
|
|
ALLIANT ENERGY CORPORATION
|
|
39-1380265
|
|
|
(a Wisconsin corporation)
|
|
|
|
|
4902 N. Biltmore Lane
|
|
|
|
|
Madison, Wisconsin 53718
|
|
|
|
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Telephone (608) 458-3311
|
|
|
|
|
|
||
1-4117
|
|
INTERSTATE POWER AND LIGHT COMPANY
|
|
42-0331370
|
|
|
(an Iowa corporation)
|
|
|
|
|
Alliant Energy Tower
|
|
|
|
|
Cedar Rapids, Iowa 52401
|
|
|
|
|
Telephone (319) 786-4411
|
|
|
|
|
|
||
0-337
|
|
WISCONSIN POWER AND LIGHT COMPANY
|
|
39-0714890
|
|
|
(a Wisconsin corporation)
|
|
|
|
|
4902 N. Biltmore Lane
|
|
|
|
|
Madison, Wisconsin 53718
|
|
|
|
|
Telephone (608) 458-3311
|
|
|
|
Large Accelerated Filer
|
|
Accelerated Filer
|
|
Non-accelerated Filer
|
|
Smaller Reporting Company
|
|
Emerging Growth Company
|
Alliant Energy Corporation
|
☒
|
|
|
|
|
|
|
|
|
Interstate Power and Light Company
|
|
|
|
|
☒
|
|
|
|
|
Wisconsin Power and Light Company
|
|
|
|
|
☒
|
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Page
|
Abbreviation or Acronym
|
Definition
|
Abbreviation or Acronym
|
Definition
|
2016 Form 10-K
|
Combined Annual Report on Form 10-K filed by Alliant Energy, IPL and WPL for the year ended Dec. 31, 2016
|
ITC
|
ITC Midwest LLC
|
AEF
|
Alliant Energy Finance, LLC
|
IUB
|
Iowa Utilities Board
|
AFUDC
|
Allowance for funds used during construction
|
Marshalltown
|
Marshalltown Generating Station
|
Alliant Energy
|
Alliant Energy Corporation
|
MDA
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
ATC
|
American Transmission Company
|
MISO
|
Midcontinent Independent System Operator, Inc.
|
ATI
|
AE Transco Investments, LLC
|
MW
|
Megawatt
|
CAA
|
Clean Air Act
|
MWh
|
Megawatt-hour
|
Corporate Services
|
Alliant Energy Corporate Services, Inc.
|
N/A
|
Not applicable
|
Dth
|
Dekatherm
|
Note(s)
|
Combined Notes to Condensed Consolidated Financial Statements
|
EGU
|
Electric generating unit
|
NOx
|
Nitrogen oxide
|
EPA
|
U.S. Environmental Protection Agency
|
OPEB
|
Other postretirement benefits
|
EPS
|
Earnings per weighted average common share
|
PSCW
|
Public Service Commission of Wisconsin
|
FERC
|
Federal Energy Regulatory Commission
|
Riverside
|
Riverside Energy Center
|
Financial Statements
|
Condensed Consolidated Financial Statements
|
RMT
|
RMT, Inc.
|
FTR
|
Financial transmission right
|
SCR
|
Selective catalytic reduction
|
Fuel-related
|
Electric production fuel and purchased power
|
SO2
|
Sulfur dioxide
|
GAAP
|
U.S. generally accepted accounting principles
|
U.S.
|
United States of America
|
HDD
|
Heating degree days
|
Whiting Petroleum
|
Whiting Petroleum Corporation
|
IPL
|
Interstate Power and Light Company
|
WPL
|
Wisconsin Power and Light Company
|
•
|
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 review;
|
•
|
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 existing 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
|
|
1
|
|
•
|
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, LLC’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 Coal Combustion Residuals Rule, the Clean Power Plan, future changes in environmental laws and regulations, including the EPA’s regulations for carbon dioxide emissions reductions from new and existing fossil-fueled EGUs, and litigation associated with environmental requirements;
|
•
|
the ability to defend against environmental claims brought by state and federal agencies, such as the EPA, state natural resources agencies or third parties, such as the Sierra Club, and the impact on operating expenses of defending and resolving such claims;
|
•
|
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, 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, energy 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 Risk Factors in Item 1A in the
2016
Form 10-K.
|
|
2
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2017
|
|
2016
|
||||
|
(in millions, except per share amounts)
|
||||||
Operating revenues:
|
|
|
|
||||
Electric utility
|
|
$677.6
|
|
|
|
$668.9
|
|
Gas utility
|
154.3
|
|
|
152.2
|
|
||
Other utility
|
11.7
|
|
|
13.2
|
|
||
Non-regulated
|
10.3
|
|
|
9.5
|
|
||
Total operating revenues
|
853.9
|
|
|
843.8
|
|
||
Operating expenses:
|
|
|
|
||||
Electric production fuel and purchased power
|
207.8
|
|
|
200.9
|
|
||
Electric transmission service
|
124.7
|
|
|
127.9
|
|
||
Cost of gas sold
|
92.2
|
|
|
95.2
|
|
||
Other operation and maintenance
|
152.9
|
|
|
145.1
|
|
||
Depreciation and amortization
|
107.0
|
|
|
102.5
|
|
||
Taxes other than income taxes
|
26.4
|
|
|
26.3
|
|
||
Total operating expenses
|
711.0
|
|
|
697.9
|
|
||
Operating income
|
142.9
|
|
|
145.9
|
|
||
Interest expense and other:
|
|
|
|
||||
Interest expense
|
52.3
|
|
|
48.0
|
|
||
Equity income from unconsolidated investments, net
|
(11.5
|
)
|
|
(10.5
|
)
|
||
Allowance for funds used during construction
|
(17.0
|
)
|
|
(13.2
|
)
|
||
Interest income and other
|
(0.1
|
)
|
|
(0.2
|
)
|
||
Total interest expense and other
|
23.7
|
|
|
24.1
|
|
||
Income from continuing operations before income taxes
|
119.2
|
|
|
121.8
|
|
||
Income taxes
|
17.6
|
|
|
21.6
|
|
||
Income from continuing operations, net of tax
|
101.6
|
|
|
100.2
|
|
||
Income (loss) from discontinued operations, net of tax
|
1.4
|
|
|
(1.1
|
)
|
||
Net income
|
103.0
|
|
|
99.1
|
|
||
Preferred dividend requirements of Interstate Power and Light Company
|
2.6
|
|
|
2.6
|
|
||
Net income attributable to Alliant Energy common shareowners
|
|
$100.4
|
|
|
|
$96.5
|
|
Weighted average number of common shares outstanding (basic and diluted) (a)
|
227.6
|
|
|
226.8
|
|
||
Earnings per weighted average common share attributable to Alliant Energy common
shareowners (basic and diluted) (a):
|
|
|
|
||||
Income from continuing operations, net of tax
|
|
$0.43
|
|
|
|
$0.43
|
|
Income from discontinued operations, net of tax
|
0.01
|
|
|
—
|
|
||
Net income
|
|
$0.44
|
|
|
|
$0.43
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
||||
Income from continuing operations, net of tax
|
|
$99.0
|
|
|
|
$97.6
|
|
Income (loss) from discontinued operations, net of tax
|
1.4
|
|
|
(1.1
|
)
|
||
Net income
|
|
$100.4
|
|
|
|
$96.5
|
|
Dividends declared per common share (a)
|
|
$0.315
|
|
|
|
$0.29375
|
|
(a)
|
Amounts reflect the effects of a two-for-one common stock split distributed in May 2016.
|
|
3
|
|
|
March 31,
2017 |
|
December 31,
2016 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$8.4
|
|
|
|
$8.2
|
|
Accounts receivable, less allowance for doubtful accounts
|
424.9
|
|
|
493.3
|
|
||
Production fuel, at weighted average cost
|
86.7
|
|
|
98.1
|
|
||
Gas stored underground, at weighted average cost
|
12.2
|
|
|
37.6
|
|
||
Materials and supplies, at weighted average cost
|
88.8
|
|
|
86.6
|
|
||
Regulatory assets
|
58.4
|
|
|
57.8
|
|
||
Other
|
70.4
|
|
|
95.5
|
|
||
Total current assets
|
749.8
|
|
|
877.1
|
|
||
Property, plant and equipment, net
|
10,448.8
|
|
|
10,279.2
|
|
||
Investments:
|
|
|
|
||||
Investment in American Transmission Company LLC
|
327.7
|
|
|
317.6
|
|
||
Other
|
19.1
|
|
|
20.0
|
|
||
Total investments
|
346.8
|
|
|
337.6
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,904.6
|
|
|
1,857.3
|
|
||
Deferred charges and other
|
14.9
|
|
|
22.6
|
|
||
Total other assets
|
1,919.5
|
|
|
1,879.9
|
|
||
Total assets
|
|
$13,464.9
|
|
|
|
$13,373.8
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$4.6
|
|
|
|
$4.6
|
|
Commercial paper
|
302.8
|
|
|
244.1
|
|
||
Accounts payable
|
369.5
|
|
|
445.3
|
|
||
Regulatory liabilities
|
215.2
|
|
|
186.2
|
|
||
Other
|
272.9
|
|
|
281.8
|
|
||
Total current liabilities
|
1,165.0
|
|
|
1,162.0
|
|
||
Long-term debt, net (excluding current portion)
|
4,316.1
|
|
|
4,315.6
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
2,625.9
|
|
|
2,570.2
|
|
||
Regulatory liabilities
|
481.4
|
|
|
494.8
|
|
||
Pension and other benefit obligations
|
481.7
|
|
|
489.9
|
|
||
Other
|
297.9
|
|
|
279.3
|
|
||
Total other liabilities
|
3,886.9
|
|
|
3,834.2
|
|
||
Commitments and contingencies (
Note 12
)
|
|
|
|
|
|
||
Equity:
|
|
|
|
||||
Alliant Energy Corporation common equity:
|
|
|
|
||||
Common stock - $0.01 par value - 480,000,000 shares authorized; 227,823,278 and 227,673,654 shares outstanding
|
2.3
|
|
|
2.3
|
|
||
Additional paid-in capital
|
1,699.2
|
|
|
1,693.1
|
|
||
Retained earnings
|
2,205.9
|
|
|
2,177.0
|
|
||
Accumulated other comprehensive loss
|
(0.4
|
)
|
|
(0.4
|
)
|
||
Shares in deferred compensation trust - 440,704 and 441,695 shares at a weighted average cost of $22.89 and $22.71 per share
|
(10.1
|
)
|
|
(10.0
|
)
|
||
Total Alliant Energy Corporation common equity
|
3,896.9
|
|
|
3,862.0
|
|
||
Cumulative preferred stock of Interstate Power and Light Company
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
4,096.9
|
|
|
4,062.0
|
|
||
Total liabilities and equity
|
|
$13,464.9
|
|
|
|
$13,373.8
|
|
|
4
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2017
|
|
2016
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$103.0
|
|
|
|
$99.1
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
107.0
|
|
|
102.5
|
|
||
Deferred tax expense and tax credits
|
22.7
|
|
|
22.8
|
|
||
Other
|
(7.6
|
)
|
|
(17.6
|
)
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
36.5
|
|
|
(47.8
|
)
|
||
Sales of accounts receivable
|
35.0
|
|
|
57.0
|
|
||
Gas stored underground
|
25.4
|
|
|
27.4
|
|
||
Regulatory assets
|
(40.6
|
)
|
|
(9.5
|
)
|
||
Derivative assets
|
28.1
|
|
|
10.7
|
|
||
Accounts payable
|
(41.3
|
)
|
|
(31.2
|
)
|
||
Regulatory liabilities
|
14.2
|
|
|
(28.7
|
)
|
||
Deferred income taxes
|
32.8
|
|
|
20.3
|
|
||
Other
|
18.5
|
|
|
23.3
|
|
||
Net cash flows from operating activities
|
333.7
|
|
|
228.3
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Construction and acquisition expenditures:
|
|
|
|
||||
Utility business
|
(276.4
|
)
|
|
(220.4
|
)
|
||
Alliant Energy Corporate Services, Inc. and non-regulated businesses
|
(15.1
|
)
|
|
(18.8
|
)
|
||
Other
|
(12.1
|
)
|
|
19.2
|
|
||
Net cash flows used for investing activities
|
(303.6
|
)
|
|
(220.0
|
)
|
||
Cash flows used for financing activities:
|
|
|
|
||||
Common stock dividends
|
(71.5
|
)
|
|
(66.5
|
)
|
||
Net change in commercial paper
|
58.7
|
|
|
53.6
|
|
||
Other
|
(17.1
|
)
|
|
3.6
|
|
||
Net cash flows used for financing activities
|
(29.9
|
)
|
|
(9.3
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
0.2
|
|
|
(1.0
|
)
|
||
Cash and cash equivalents at beginning of period
|
8.2
|
|
|
5.8
|
|
||
Cash and cash equivalents at end of period
|
|
$8.4
|
|
|
|
$4.8
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash paid during the period for:
|
|
|
|
||||
Interest, net of capitalized interest
|
|
($51.8
|
)
|
|
|
($44.5
|
)
|
Income taxes, net
|
|
($2.3
|
)
|
|
|
$—
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$139.3
|
|
|
|
$105.0
|
|
|
5
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2017
|
|
2016
|
||||
|
(in millions)
|
||||||
Operating revenues:
|
|
|
|
||||
Electric utility
|
|
$356.2
|
|
|
|
$361.6
|
|
Gas utility
|
83.1
|
|
|
84.2
|
|
||
Steam and other
|
11.2
|
|
|
12.9
|
|
||
Total operating revenues
|
450.5
|
|
|
458.7
|
|
||
Operating expenses:
|
|
|
|
||||
Electric production fuel and purchased power
|
109.5
|
|
|
99.4
|
|
||
Electric transmission service
|
81.7
|
|
|
86.5
|
|
||
Cost of gas sold
|
47.8
|
|
|
52.4
|
|
||
Other operation and maintenance
|
94.9
|
|
|
92.0
|
|
||
Depreciation and amortization
|
53.6
|
|
|
52.7
|
|
||
Taxes other than income taxes
|
13.4
|
|
|
13.7
|
|
||
Total operating expenses
|
400.9
|
|
|
396.7
|
|
||
Operating income
|
49.6
|
|
|
62.0
|
|
||
Interest expense and other:
|
|
|
|
||||
Interest expense
|
27.7
|
|
|
24.9
|
|
||
Allowance for funds used during construction
|
(14.3
|
)
|
|
(10.3
|
)
|
||
Interest income and other
|
0.1
|
|
|
—
|
|
||
Total interest expense and other
|
13.5
|
|
|
14.6
|
|
||
Income before income taxes
|
36.1
|
|
|
47.4
|
|
||
Income tax benefit
|
(3.7
|
)
|
|
(0.8
|
)
|
||
Net income
|
39.8
|
|
|
48.2
|
|
||
Preferred dividend requirements
|
2.6
|
|
|
2.6
|
|
||
Earnings available for common stock
|
|
$37.2
|
|
|
|
$45.6
|
|
|
6
|
|
|
March 31,
2017 |
|
December 31,
2016 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$4.1
|
|
|
|
$3.3
|
|
Accounts receivable, less allowance for doubtful accounts
|
177.2
|
|
|
240.7
|
|
||
Production fuel, at weighted average cost
|
64.1
|
|
|
70.3
|
|
||
Gas stored underground, at weighted average cost
|
2.8
|
|
|
16.3
|
|
||
Materials and supplies, at weighted average cost
|
48.8
|
|
|
46.5
|
|
||
Regulatory assets
|
18.4
|
|
|
17.7
|
|
||
Other
|
14.7
|
|
|
27.7
|
|
||
Total current assets
|
330.1
|
|
|
422.5
|
|
||
Property, plant and equipment, net
|
5,503.9
|
|
|
5,435.6
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,482.4
|
|
|
1,441.1
|
|
||
Deferred charges and other
|
6.6
|
|
|
5.5
|
|
||
Total other assets
|
1,489.0
|
|
|
1,446.6
|
|
||
Total assets
|
|
$7,323.0
|
|
|
|
$7,304.7
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Commercial paper
|
|
$9.2
|
|
|
|
$—
|
|
Accounts payable
|
149.2
|
|
|
186.3
|
|
||
Regulatory liabilities
|
166.6
|
|
|
149.6
|
|
||
Accrued taxes
|
37.2
|
|
|
53.8
|
|
||
Other
|
131.5
|
|
|
132.1
|
|
||
Total current liabilities
|
493.7
|
|
|
521.8
|
|
||
Long-term debt, net
|
2,154.0
|
|
|
2,153.5
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,553.2
|
|
|
1,511.8
|
|
||
Regulatory liabilities
|
281.7
|
|
|
281.2
|
|
||
Pension and other benefit obligations
|
172.2
|
|
|
173.2
|
|
||
Other
|
221.1
|
|
|
214.2
|
|
||
Total other liabilities
|
2,228.2
|
|
|
2,180.4
|
|
||
Commitments and contingencies (
Note 12
)
|
|
|
|
|
|
||
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
|
|
|
1,597.8
|
|
||
Retained earnings
|
615.9
|
|
|
617.8
|
|
||
Total Interstate Power and Light Company common equity
|
2,247.1
|
|
|
2,249.0
|
|
||
Cumulative preferred stock
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
2,447.1
|
|
|
2,449.0
|
|
||
Total liabilities and equity
|
|
$7,323.0
|
|
|
|
$7,304.7
|
|
|
7
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2017
|
|
2016
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$39.8
|
|
|
|
$48.2
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
53.6
|
|
|
52.7
|
|
||
Other
|
3.1
|
|
|
3.2
|
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
32.7
|
|
|
(37.5
|
)
|
||
Sales of accounts receivable
|
35.0
|
|
|
57.0
|
|
||
Regulatory assets
|
(29.3
|
)
|
|
(3.8
|
)
|
||
Accounts payable
|
(24.7
|
)
|
|
(19.5
|
)
|
||
Regulatory liabilities
|
15.7
|
|
|
(23.6
|
)
|
||
Deferred income taxes
|
29.1
|
|
|
20.9
|
|
||
Other
|
21.3
|
|
|
18.8
|
|
||
Net cash flows from operating activities
|
176.3
|
|
|
116.4
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Utility construction and acquisition expenditures
|
(127.6
|
)
|
|
(135.3
|
)
|
||
Other
|
(8.7
|
)
|
|
12.1
|
|
||
Net cash flows used for investing activities
|
(136.3
|
)
|
|
(123.2
|
)
|
||
Cash flows from (used for) financing activities:
|
|
|
|
||||
Common stock dividends
|
(39.1
|
)
|
|
(38.1
|
)
|
||
Capital contributions from parent
|
—
|
|
|
40.0
|
|
||
Other
|
(0.1
|
)
|
|
3.4
|
|
||
Net cash flows from (used for) financing activities
|
(39.2
|
)
|
|
5.3
|
|
||
Net increase (decrease) in cash and cash equivalents
|
0.8
|
|
|
(1.5
|
)
|
||
Cash and cash equivalents at beginning of period
|
3.3
|
|
|
4.5
|
|
||
Cash and cash equivalents at end of period
|
|
$4.1
|
|
|
|
$3.0
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash (paid) refunded during the period for:
|
|
|
|
||||
Interest
|
|
($28.4
|
)
|
|
|
($22.6
|
)
|
Income taxes, net
|
|
($2.6
|
)
|
|
|
$1.1
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$44.2
|
|
|
|
$47.6
|
|
|
8
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2017
|
|
2016
|
||||
|
(in millions)
|
||||||
Operating revenues:
|
|
|
|
||||
Electric utility
|
|
$321.4
|
|
|
|
$307.3
|
|
Gas utility
|
71.2
|
|
|
68.0
|
|
||
Other
|
0.5
|
|
|
0.3
|
|
||
Total operating revenues
|
393.1
|
|
|
375.6
|
|
||
Operating expenses:
|
|
|
|
||||
Electric production fuel and purchased power
|
98.3
|
|
|
101.5
|
|
||
Electric transmission service
|
43.0
|
|
|
41.4
|
|
||
Cost of gas sold
|
44.4
|
|
|
42.8
|
|
||
Other operation and maintenance
|
57.0
|
|
|
52.1
|
|
||
Depreciation and amortization
|
52.4
|
|
|
47.4
|
|
||
Taxes other than income taxes
|
12.0
|
|
|
11.6
|
|
||
Total operating expenses
|
307.1
|
|
|
296.8
|
|
||
Operating income
|
86.0
|
|
|
78.8
|
|
||
Interest expense and other:
|
|
|
|
||||
Interest expense
|
22.9
|
|
|
22.9
|
|
||
Equity income from unconsolidated investments
|
—
|
|
|
(10.7
|
)
|
||
Allowance for funds used during construction
|
(2.7
|
)
|
|
(2.9
|
)
|
||
Interest income and other
|
(0.1
|
)
|
|
(0.1
|
)
|
||
Total interest expense and other
|
20.1
|
|
|
9.2
|
|
||
Income before income taxes
|
65.9
|
|
|
69.6
|
|
||
Income taxes
|
20.4
|
|
|
22.6
|
|
||
Net income
|
45.5
|
|
|
47.0
|
|
||
Net income attributable to noncontrolling interest
|
—
|
|
|
0.5
|
|
||
Earnings available for common stock
|
|
$45.5
|
|
|
|
$46.5
|
|
|
9
|
|
|
March 31,
2017 |
|
December 31,
2016 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$2.1
|
|
|
|
$4.2
|
|
Accounts receivable, less allowance for doubtful accounts
|
212.0
|
|
|
226.3
|
|
||
Production fuel, at weighted average cost
|
22.6
|
|
|
27.8
|
|
||
Gas stored underground, at weighted average cost
|
9.4
|
|
|
21.3
|
|
||
Materials and supplies, at weighted average cost
|
36.5
|
|
|
36.3
|
|
||
Regulatory assets
|
40.0
|
|
|
40.1
|
|
||
Other
|
45.5
|
|
|
60.5
|
|
||
Total current assets
|
368.1
|
|
|
416.5
|
|
||
Property, plant and equipment, net
|
4,523.9
|
|
|
4,426.7
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
422.2
|
|
|
416.2
|
|
||
Deferred charges and other
|
20.8
|
|
|
30.9
|
|
||
Total other assets
|
443.0
|
|
|
447.1
|
|
||
Total assets
|
|
$5,335.0
|
|
|
|
$5,290.3
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Commercial paper
|
|
$91.2
|
|
|
|
$52.3
|
|
Accounts payable
|
157.2
|
|
|
192.9
|
|
||
Regulatory liabilities
|
48.6
|
|
|
36.6
|
|
||
Other
|
123.0
|
|
|
112.9
|
|
||
Total current liabilities
|
420.0
|
|
|
394.7
|
|
||
Long-term debt, net
|
1,535.5
|
|
|
1,535.2
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
984.7
|
|
|
971.6
|
|
||
Regulatory liabilities
|
199.7
|
|
|
213.6
|
|
||
Capital lease obligations - Sheboygan Falls Energy Facility
|
75.5
|
|
|
77.2
|
|
||
Pension and other benefit obligations
|
205.9
|
|
|
207.8
|
|
||
Other
|
168.9
|
|
|
159.4
|
|
||
Total other liabilities
|
1,634.7
|
|
|
1,629.6
|
|
||
Commitments and contingencies (
Note 12
)
|
|
|
|
||||
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
|
|
|
1,019.0
|
|
||
Retained earnings
|
659.6
|
|
|
645.6
|
|
||
Total Wisconsin Power and Light Company common equity
|
1,744.8
|
|
|
1,730.8
|
|
||
Total liabilities and equity
|
|
$5,335.0
|
|
|
|
$5,290.3
|
|
|
10
|
|
|
For the Three Months
|
||||||
|
Ended March 31,
|
||||||
|
2017
|
|
2016
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$45.5
|
|
|
|
$47.0
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
52.4
|
|
|
47.4
|
|
||
Deferred tax expense and tax credits
|
11.8
|
|
|
18.8
|
|
||
Other
|
2.6
|
|
|
(10.9
|
)
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
13.3
|
|
|
(8.9
|
)
|
||
Derivative assets
|
16.1
|
|
|
1.0
|
|
||
Accounts payable
|
(25.5
|
)
|
|
(15.3
|
)
|
||
Derivative liabilities
|
8.7
|
|
|
19.5
|
|
||
Other
|
20.7
|
|
|
25.0
|
|
||
Net cash flows from operating activities
|
145.6
|
|
|
123.6
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Utility construction and acquisition expenditures
|
(141.3
|
)
|
|
(85.1
|
)
|
||
Other
|
(8.0
|
)
|
|
(6.3
|
)
|
||
Net cash flows used for investing activities
|
(149.3
|
)
|
|
(91.4
|
)
|
||
Cash flows from (used for) financing activities:
|
|
|
|
||||
Common stock dividends
|
(31.5
|
)
|
|
(33.8
|
)
|
||
Net change in commercial paper
|
38.9
|
|
|
5.6
|
|
||
Other
|
(5.8
|
)
|
|
(3.1
|
)
|
||
Net cash flows from (used for) financing activities
|
1.6
|
|
|
(31.3
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
(2.1
|
)
|
|
0.9
|
|
||
Cash and cash equivalents at beginning of period
|
4.2
|
|
|
0.4
|
|
||
Cash and cash equivalents at end of period
|
|
$2.1
|
|
|
|
$1.3
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash paid during the period for:
|
|
|
|
||||
Interest
|
|
($21.9
|
)
|
|
|
($21.9
|
)
|
Income taxes, net
|
|
$—
|
|
|
|
($7.4
|
)
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$90.5
|
|
|
|
$49.7
|
|
|
11
|
|
|
12
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
March 31,
2017 |
|
December 31,
2016 |
|
March 31,
2017 |
|
December 31,
2016 |
|
March 31,
2017 |
|
December 31,
2016 |
||||||||||||
Tax-related
|
|
$1,080.2
|
|
|
|
$1,055.6
|
|
|
|
$1,044.9
|
|
|
|
$1,022.4
|
|
|
|
$35.3
|
|
|
|
$33.2
|
|
Pension and OPEB costs
|
568.5
|
|
|
578.7
|
|
|
289.1
|
|
|
294.0
|
|
|
279.4
|
|
|
284.7
|
|
||||||
Asset retirement obligations
|
108.6
|
|
|
105.9
|
|
|
67.1
|
|
|
64.3
|
|
|
41.5
|
|
|
41.6
|
|
||||||
Derivatives
|
46.4
|
|
|
30.7
|
|
|
17.2
|
|
|
10.0
|
|
|
29.2
|
|
|
20.7
|
|
||||||
WPL’s EGUs retired early
|
39.7
|
|
|
41.4
|
|
|
—
|
|
|
—
|
|
|
39.7
|
|
|
41.4
|
|
||||||
Emission allowances
|
26.0
|
|
|
26.2
|
|
|
26.0
|
|
|
26.2
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
93.6
|
|
|
76.6
|
|
|
56.5
|
|
|
41.9
|
|
|
37.1
|
|
|
34.7
|
|
||||||
|
|
$1,963.0
|
|
|
|
$1,915.1
|
|
|
|
$1,500.8
|
|
|
|
$1,458.8
|
|
|
|
$462.2
|
|
|
|
$456.3
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
March 31,
2017 |
|
December 31,
2016 |
|
March 31,
2017 |
|
December 31,
2016 |
|
March 31,
2017 |
|
December 31,
2016 |
||||||||||||
Cost of removal obligations
|
|
$413.0
|
|
|
|
$411.6
|
|
|
|
$271.1
|
|
|
|
$269.4
|
|
|
|
$141.9
|
|
|
|
$142.2
|
|
Electric transmission cost recovery
|
128.3
|
|
|
72.0
|
|
|
75.9
|
|
|
35.7
|
|
|
52.4
|
|
|
36.3
|
|
||||||
IPL’s tax benefit riders
|
64.7
|
|
|
83.5
|
|
|
64.7
|
|
|
83.5
|
|
|
—
|
|
|
—
|
|
||||||
Commodity cost recovery
|
32.9
|
|
|
30.8
|
|
|
20.1
|
|
|
17.8
|
|
|
12.8
|
|
|
13.0
|
|
||||||
Energy efficiency cost recovery
|
20.6
|
|
|
20.5
|
|
|
—
|
|
|
—
|
|
|
20.6
|
|
|
20.5
|
|
||||||
Derivatives
|
9.0
|
|
|
31.5
|
|
|
5.1
|
|
|
12.1
|
|
|
3.9
|
|
|
19.4
|
|
||||||
Other
|
28.1
|
|
|
31.1
|
|
|
11.4
|
|
|
12.3
|
|
|
16.7
|
|
|
18.8
|
|
||||||
|
|
$696.6
|
|
|
|
$681.0
|
|
|
|
$448.3
|
|
|
|
$430.8
|
|
|
|
$248.3
|
|
|
|
$250.2
|
|
Electric tax benefit rider credits
|
|
$17
|
|
Gas tax benefit rider credits
|
2
|
|
|
|
|
$19
|
|
|
13
|
|
|
14
|
|
|
2017
|
|
2016
|
||||
Maximum outstanding aggregate cash proceeds
|
|
$79.0
|
|
|
|
$75.0
|
|
Average outstanding aggregate cash proceeds
|
38.4
|
|
|
39.1
|
|
|
March 31, 2017
|
|
December 31, 2016
|
||||
Customer accounts receivable
|
|
$143.7
|
|
|
|
$157.6
|
|
Unbilled utility revenues
|
76.8
|
|
|
90.4
|
|
||
Other receivables
|
0.5
|
|
|
0.1
|
|
||
Receivables sold to third party
|
221.0
|
|
|
248.1
|
|
||
Less: cash proceeds (a)
|
56.0
|
|
|
21.0
|
|
||
Deferred proceeds
|
165.0
|
|
|
227.1
|
|
||
Less: allowance for doubtful accounts
|
16.0
|
|
|
16.0
|
|
||
Fair value of deferred proceeds
|
|
$149.0
|
|
|
|
$211.1
|
|
(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.
|
|
2017
|
|
2016
|
||||
Collections reinvested in receivables
|
|
$501.2
|
|
|
|
$440.2
|
|
Write-offs, net of recoveries
|
4.6
|
|
|
0.4
|
|
|
Alliant Energy
|
|
WPL
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
ATC Investment
|
|
($11.5
|
)
|
|
|
($10.7
|
)
|
|
|
$—
|
|
|
|
($10.7
|
)
|
Other
|
—
|
|
|
0.2
|
|
|
—
|
|
|
—
|
|
||||
|
|
($11.5
|
)
|
|
|
($10.5
|
)
|
|
|
$—
|
|
|
|
($10.7
|
)
|
|
15
|
|
Shares outstanding, January 1, 2017
|
227,673,654
|
|
Shareowner Direct Plan issuances
|
190,286
|
|
Equity-based compensation plans (
Note 9(b)
)
|
5,185
|
|
Other
|
(45,847
|
)
|
Shares outstanding, March 31, 2017
|
227,823,278
|
|
|
Alliant Energy
|
|
Parent
|
|
|
|
|
March 31, 2017
|
(Consolidated)
|
|
Company
|
|
IPL
|
|
WPL
|
Commercial paper outstanding
|
$302.8
|
|
$202.4
|
|
$9.2
|
|
$91.2
|
Commercial paper weighted average interest rates
|
1.1%
|
|
1.2%
|
|
1.2%
|
|
0.9%
|
Available credit facility capacity
|
$697.2
|
|
$97.6
|
|
$290.8
|
|
$308.8
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Three Months Ended March 31
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
Maximum amount outstanding (based on daily outstanding balances)
|
$325.5
|
|
$242.6
|
|
$9.2
|
|
$—
|
|
$113.6
|
|
$55.7
|
Average amount outstanding (based on daily outstanding balances)
|
$276.5
|
|
$199.0
|
|
$0.1
|
|
$—
|
|
$79.1
|
|
$25.8
|
Weighted average interest rates
|
0.9%
|
|
0.6%
|
|
1.1%
|
|
N/A
|
|
0.7%
|
|
0.4%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Three Months Ended March 31
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||
Statutory federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
IPL’s tax benefit riders
|
(7.8
|
)
|
|
(8.7
|
)
|
|
(19.4
|
)
|
|
(20.7
|
)
|
|
—
|
|
|
—
|
|
Effect of rate-making on property-related differences
|
(7.5
|
)
|
|
(6.8
|
)
|
|
(17.9
|
)
|
|
(15.2
|
)
|
|
(1.7
|
)
|
|
(0.8
|
)
|
Production tax credits
|
(5.9
|
)
|
|
(6.3
|
)
|
|
(6.6
|
)
|
|
(6.7
|
)
|
|
(7.0
|
)
|
|
(6.5
|
)
|
Other items, net
|
1.0
|
|
|
4.5
|
|
|
(1.3
|
)
|
|
5.9
|
|
|
4.7
|
|
|
4.8
|
|
Overall income tax rate
|
14.8
|
%
|
|
17.7
|
%
|
|
(10.2
|
%)
|
|
(1.7
|
%)
|
|
31.0
|
%
|
|
32.5
|
%
|
|
16
|
|
|
Range of Expiration Dates
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Federal net operating losses
|
2030-2037
|
|
|
$633
|
|
|
|
$315
|
|
|
|
$217
|
|
State net operating losses
|
2018-2037
|
|
696
|
|
|
13
|
|
|
2
|
|
|||
Federal tax credits
|
2022-2037
|
|
284
|
|
|
104
|
|
|
118
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Service cost
|
|
$3.1
|
|
|
|
$3.2
|
|
|
|
$1.2
|
|
|
|
$1.3
|
|
Interest cost
|
12.8
|
|
|
13.3
|
|
|
2.2
|
|
|
2.3
|
|
||||
Expected return on plan assets
|
(16.4
|
)
|
|
(16.4
|
)
|
|
(1.5
|
)
|
|
(1.5
|
)
|
||||
Amortization of prior service credit
|
(0.1
|
)
|
|
(0.1
|
)
|
|
(0.1
|
)
|
|
(1.0
|
)
|
||||
Amortization of actuarial loss
|
9.4
|
|
|
9.3
|
|
|
1.0
|
|
|
1.2
|
|
||||
|
|
$8.8
|
|
|
|
$9.3
|
|
|
|
$2.8
|
|
|
|
$2.3
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Service cost
|
|
$1.8
|
|
|
|
$1.9
|
|
|
|
$0.5
|
|
|
|
$0.6
|
|
Interest cost
|
5.9
|
|
|
6.1
|
|
|
0.9
|
|
|
1.0
|
|
||||
Expected return on plan assets
|
(7.7
|
)
|
|
(7.7
|
)
|
|
(1.1
|
)
|
|
(1.0
|
)
|
||||
Amortization of prior service credit
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.7
|
)
|
||||
Amortization of actuarial loss
|
4.0
|
|
|
4.1
|
|
|
0.5
|
|
|
0.6
|
|
||||
|
|
$4.0
|
|
|
|
$4.4
|
|
|
|
$0.8
|
|
|
|
$0.5
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Service cost
|
|
$1.2
|
|
|
|
$1.2
|
|
|
|
$0.5
|
|
|
|
$0.5
|
|
Interest cost
|
5.5
|
|
|
5.6
|
|
|
0.9
|
|
|
0.9
|
|
||||
Expected return on plan assets
|
(7.1
|
)
|
|
(7.1
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
||||
Amortization of prior service cost (credit)
|
—
|
|
|
0.1
|
|
|
(0.1
|
)
|
|
(0.2
|
)
|
||||
Amortization of actuarial loss
|
4.6
|
|
|
4.4
|
|
|
0.4
|
|
|
0.5
|
|
||||
|
|
$4.2
|
|
|
|
$4.2
|
|
|
|
$1.5
|
|
|
|
$1.5
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||
401(k) costs
|
|
$6.5
|
|
|
|
$6.2
|
|
|
|
$3.4
|
|
|
|
$3.1
|
|
|
|
$2.9
|
|
|
|
$2.8
|
|
|
17
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||
Compensation expense
|
|
$3.2
|
|
|
|
$5.3
|
|
|
|
$1.7
|
|
|
|
$2.8
|
|
|
|
$1.4
|
|
|
|
$2.3
|
|
Income tax benefits
|
1.3
|
|
|
2.2
|
|
|
0.7
|
|
|
1.1
|
|
|
0.5
|
|
|
0.9
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||
Nonvested awards, January 1
|
257,599
|
|
|
288,430
|
|
|
93,320
|
|
|
116,412
|
|
Granted
|
63,804
|
|
|
67,552
|
|
|
21,558
|
|
|
23,918
|
|
Vested
|
(99,438
|
)
|
|
(98,186
|
)
|
|
(37,395
|
)
|
|
(42,760
|
)
|
Forfeited
|
—
|
|
|
(1,230
|
)
|
|
(497
|
)
|
|
(764
|
)
|
Nonvested awards,
March 31
|
221,965
|
|
|
256,566
|
|
|
76,986
|
|
|
96,806
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
2014 Grant
|
|
2013 Grant
|
|
2014 Grant
|
|
2013 Grant
|
||||||||
Performance awards vested
|
99,438
|
|
|
98,186
|
|
|
37,395
|
|
|
42,760
|
|
||||
Percentage of target number of performance awards
|
147.5
|
%
|
|
165.0
|
%
|
|
147.5
|
%
|
|
165.0
|
%
|
||||
Aggregate payout value (in millions)
|
|
$5.6
|
|
|
|
$5.1
|
|
|
|
$1.5
|
|
|
|
$1.7
|
|
Payout - cash (in millions)
|
|
$5.1
|
|
|
|
$2.9
|
|
|
|
$1.5
|
|
|
|
$1.7
|
|
Payout - common stock shares issued
|
5,185
|
|
|
22,408
|
|
|
N/A
|
|
N/A
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||||||||||
|
2017 Grant
|
|
2016 Grant
|
|
2015 Grant
|
|
2017 Grant
|
|
2016 Grant
|
|
2015 Grant
|
||||||||||||
Nonvested awards at target
|
63,804
|
|
|
67,355
|
|
|
90,806
|
|
|
21,061
|
|
|
22,657
|
|
|
33,268
|
|
||||||
Alliant Energy common stock closing price on March 31, 2017
|
|
$39.61
|
|
|
|
$39.61
|
|
|
|
$39.61
|
|
|
|
$39.61
|
|
|
|
$39.61
|
|
|
N/A
|
||
Alliant Energy common stock closing price on grant date
|
N/A
|
|
N/A
|
|
N/A
|
|
N/A
|
|
N/A
|
|
|
$32.55
|
|
||||||||||
Estimated payout percentage based on performance criteria
|
100
|
%
|
|
160
|
%
|
|
130
|
%
|
|
100
|
%
|
|
160
|
%
|
|
130
|
%
|
||||||
Fair values of each nonvested award
|
|
$39.61
|
|
|
|
$63.38
|
|
|
|
$51.49
|
|
|
|
$39.61
|
|
|
|
$63.38
|
|
|
|
$42.32
|
|
|
18
|
|
|
2017
|
|
2016
|
||||||||||
|
Units
|
|
Weighted Average
Grant Date Fair Value
|
|
Units
|
|
Weighted Average
Grant Date Fair Value
|
||||||
Nonvested units, January 1
|
67,355
|
|
|
|
$33.96
|
|
|
—
|
|
|
|
$—
|
|
Granted
|
63,804
|
|
|
39.11
|
|
|
67,552
|
|
|
33.93
|
|
||
Forfeited
|
—
|
|
|
—
|
|
|
(1,230
|
)
|
|
33.90
|
|
||
Nonvested units, March 31
|
131,159
|
|
|
36.46
|
|
|
66,322
|
|
|
33.93
|
|
|
2017
|
|
2016
|
||
Nonvested units, January 1
|
57,736
|
|
|
—
|
|
Granted
|
54,688
|
|
|
57,904
|
|
Forfeited
|
—
|
|
|
(1,054
|
)
|
Nonvested units, March 31
|
112,424
|
|
|
56,850
|
|
Alliant Energy
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$13.3
|
|
|
|
$—
|
|
|
|
$1.7
|
|
|
|
$11.6
|
|
|
|
$13.3
|
|
|
|
$41.4
|
|
|
|
$—
|
|
|
|
$4.6
|
|
|
|
$36.8
|
|
|
|
$41.4
|
|
Deferred proceeds
|
149.0
|
|
|
—
|
|
|
—
|
|
|
149.0
|
|
|
149.0
|
|
|
211.1
|
|
|
—
|
|
|
—
|
|
|
211.1
|
|
|
211.1
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
45.3
|
|
|
—
|
|
|
0.8
|
|
|
44.5
|
|
|
45.3
|
|
|
28.6
|
|
|
—
|
|
|
0.5
|
|
|
28.1
|
|
|
28.6
|
|
||||||||||
Long-term debt (including current maturities)
|
4,320.7
|
|
|
—
|
|
|
4,768.3
|
|
|
2.9
|
|
|
4,771.2
|
|
|
4,320.2
|
|
|
—
|
|
|
4,795.7
|
|
|
3.3
|
|
|
4,799.0
|
|
||||||||||
Cumulative preferred stock of IPL
|
200.0
|
|
|
202.6
|
|
|
—
|
|
|
—
|
|
|
202.6
|
|
|
200.0
|
|
|
194.8
|
|
|
—
|
|
|
—
|
|
|
194.8
|
|
IPL
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$8.8
|
|
|
|
$—
|
|
|
|
$1.3
|
|
|
|
$7.5
|
|
|
|
$8.8
|
|
|
|
$20.8
|
|
|
|
$—
|
|
|
|
$2.8
|
|
|
|
$18.0
|
|
|
|
$20.8
|
|
Deferred proceeds
|
149.0
|
|
|
—
|
|
|
—
|
|
|
149.0
|
|
|
149.0
|
|
|
211.1
|
|
|
—
|
|
|
—
|
|
|
211.1
|
|
|
211.1
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
16.3
|
|
|
—
|
|
|
0.5
|
|
|
15.8
|
|
|
16.3
|
|
|
8.3
|
|
|
—
|
|
|
0.4
|
|
|
7.9
|
|
|
8.3
|
|
||||||||||
Long-term debt
|
2,154.0
|
|
|
—
|
|
|
2,342.1
|
|
|
—
|
|
|
2,342.1
|
|
|
2,153.5
|
|
|
—
|
|
|
2,352.3
|
|
|
—
|
|
|
2,352.3
|
|
||||||||||
Cumulative preferred stock
|
200.0
|
|
|
202.6
|
|
|
—
|
|
|
—
|
|
|
202.6
|
|
|
200.0
|
|
|
194.8
|
|
|
—
|
|
|
—
|
|
|
194.8
|
|
|
19
|
|
WPL
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$4.5
|
|
|
|
$—
|
|
|
|
$0.4
|
|
|
|
$4.1
|
|
|
|
$4.5
|
|
|
|
$20.6
|
|
|
|
$—
|
|
|
|
$1.8
|
|
|
|
$18.8
|
|
|
|
$20.6
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
29.0
|
|
|
—
|
|
|
0.3
|
|
|
28.7
|
|
|
29.0
|
|
|
20.3
|
|
|
—
|
|
|
0.1
|
|
|
20.2
|
|
|
20.3
|
|
||||||||||
Long-term debt
|
1,535.5
|
|
|
—
|
|
|
1,790.9
|
|
|
—
|
|
|
1,790.9
|
|
|
1,535.2
|
|
|
—
|
|
|
1,807.4
|
|
|
—
|
|
|
1,807.4
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended March 31
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Beginning balance, January 1
|
|
$8.7
|
|
|
|
($32.7
|
)
|
|
|
$211.1
|
|
|
|
$172.0
|
|
Total net losses included in changes in net assets (realized/unrealized)
|
(35.2
|
)
|
|
(31.4
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers into Level 3
|
—
|
|
|
0.9
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.1
|
)
|
|
(0.6
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(6.3
|
)
|
|
(2.1
|
)
|
|
(62.1
|
)
|
|
(17.8
|
)
|
||||
Ending balance, March 31
|
|
($32.9
|
)
|
|
|
($65.9
|
)
|
|
|
$149.0
|
|
|
|
$154.2
|
|
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31
|
|
($33.7
|
)
|
|
|
($30.0
|
)
|
|
|
$—
|
|
|
|
$—
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended March 31
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Beginning balance, January 1
|
|
$10.1
|
|
|
|
($1.9
|
)
|
|
|
$211.1
|
|
|
|
$172.0
|
|
Total net losses included in changes in net assets (realized/unrealized)
|
(12.7
|
)
|
|
(7.6
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers into Level 3
|
—
|
|
|
0.5
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.1
|
)
|
|
(0.6
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(5.6
|
)
|
|
(3.5
|
)
|
|
(62.1
|
)
|
|
(17.8
|
)
|
||||
Ending balance, March 31
|
|
($8.3
|
)
|
|
|
($13.1
|
)
|
|
|
$149.0
|
|
|
|
$154.2
|
|
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31
|
|
($11.4
|
)
|
|
|
($6.6
|
)
|
|
|
$—
|
|
|
|
$—
|
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
Three Months Ended March 31
|
2017
|
|
2016
|
||||
Beginning balance, January 1
|
|
($1.4
|
)
|
|
|
($30.8
|
)
|
Total net losses included in changes in net assets (realized/unrealized)
|
(22.5
|
)
|
|
(23.8
|
)
|
||
Transfers into Level 3
|
—
|
|
|
0.4
|
|
||
Settlements
|
(0.7
|
)
|
|
1.4
|
|
||
Ending balance, March 31
|
|
($24.6
|
)
|
|
|
($52.8
|
)
|
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31
|
|
($22.3
|
)
|
|
|
($23.4
|
)
|
(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
|
||||||||||||
March 31, 2017
|
|
($37.0
|
)
|
|
|
$4.1
|
|
|
|
($11.6
|
)
|
|
|
$3.3
|
|
|
|
($25.4
|
)
|
|
|
$0.8
|
|
December 31, 2016
|
(2.3
|
)
|
|
11.0
|
|
|
0.1
|
|
|
10.0
|
|
|
(2.4
|
)
|
|
1.0
|
|
|
20
|
|
|
Electricity
|
|
FTRs
|
|
Natural Gas
|
|
Coal
|
|
Diesel Fuel
|
|||||||||||||||
|
MWhs
|
|
Years
|
|
MWhs
|
|
Years
|
|
Dths
|
|
Years
|
|
Tons
|
|
Years
|
|
Gallons
|
|
Years
|
|||||
Alliant Energy
|
2,304
|
|
|
2017-2018
|
|
3,537
|
|
|
2017
|
|
160,048
|
|
|
2017-2026
|
|
4,113
|
|
|
2017-2019
|
|
5,796
|
|
|
2017-2018
|
IPL
|
—
|
|
|
—
|
|
2,229
|
|
|
2017
|
|
72,924
|
|
|
2017-2026
|
|
1,680
|
|
|
2017-2019
|
|
—
|
|
|
—
|
WPL
|
2,304
|
|
|
2017-2018
|
|
1,308
|
|
|
2017
|
|
87,124
|
|
|
2017-2026
|
|
2,433
|
|
|
2017-2018
|
|
5,796
|
|
|
2017-2018
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Commodity contracts
|
March 31,
2017 |
|
December 31,
2016 |
|
March 31,
2017 |
|
December 31,
2016 |
|
March 31,
2017 |
|
December 31,
2016 |
||||||||||||
Current derivative assets
|
|
$12.2
|
|
|
|
$29.4
|
|
|
|
$8.2
|
|
|
|
$19.1
|
|
|
|
$4.0
|
|
|
|
$10.3
|
|
Non-current derivative assets
|
1.1
|
|
|
12.0
|
|
|
0.6
|
|
|
1.7
|
|
|
0.5
|
|
|
10.3
|
|
||||||
Current derivative liabilities
|
13.4
|
|
|
13.3
|
|
|
2.9
|
|
|
2.7
|
|
|
10.5
|
|
|
10.6
|
|
||||||
Non-current derivative liabilities
|
31.9
|
|
|
15.3
|
|
|
13.4
|
|
|
5.6
|
|
|
18.5
|
|
|
9.7
|
|
|
21
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Purchased power (a)
|
|
$1,372
|
|
|
|
$1,266
|
|
|
|
$106
|
|
Natural gas
|
812
|
|
|
426
|
|
|
386
|
|
|||
Coal (b)
|
165
|
|
|
73
|
|
|
92
|
|
|||
Other (c)
|
38
|
|
|
20
|
|
|
3
|
|
|||
|
|
$2,387
|
|
|
|
$1,785
|
|
|
|
$587
|
|
(a)
|
Includes payments required by purchased power agreements for capacity rights and minimum quantities of MWhs required to be purchased.
|
(b)
|
Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of
March 31, 2017
regarding expected future usage, which is subject to change.
|
(c)
|
Includes individual commitments incurred during the normal course of business that exceeded
$1 million
at
March 31, 2017
.
|
|
22
|
|
|
Alliant Energy
|
|
IPL
|
||||||||
Range of estimated future costs
|
|
$12
|
|
-
|
$31
|
|
|
$10
|
|
-
|
$28
|
Current and non-current environmental liabilities
|
17
|
|
14
|
|
23
|
|
|
Utility (a)
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
Three Months Ended March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$677.6
|
|
|
|
$154.3
|
|
|
|
$11.7
|
|
|
|
$843.6
|
|
|
|
$10.3
|
|
|
|
$853.9
|
|
Operating income
|
107.2
|
|
|
28.0
|
|
|
0.4
|
|
|
135.6
|
|
|
7.3
|
|
|
142.9
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income from continuing operations, net of tax
|
|
|
|
|
|
|
89.6
|
|
|
9.4
|
|
|
99.0
|
|
|||||||||
Income from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
1.4
|
|
|
1.4
|
|
|||||||||
Net income
|
|
|
|
|
|
|
89.6
|
|
|
10.8
|
|
|
100.4
|
|
|||||||||
Three Months Ended March 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$668.9
|
|
|
|
$152.2
|
|
|
|
$13.2
|
|
|
|
$834.3
|
|
|
|
$9.5
|
|
|
|
$843.8
|
|
Operating income
|
109.8
|
|
|
28.8
|
|
|
2.2
|
|
|
140.8
|
|
|
5.1
|
|
|
145.9
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income from continuing operations, net of tax
|
|
|
|
|
|
|
92.1
|
|
|
5.5
|
|
|
97.6
|
|
|||||||||
Loss from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
(1.1
|
)
|
|
(1.1
|
)
|
|||||||||
Net income
|
|
|
|
|
|
|
92.1
|
|
|
4.4
|
|
|
96.5
|
|
(a)
|
Alliant Energy’s utility business segments include: a) utility electric operations, which include Alliant Energy’s entire investment in ATC; b) utility gas operations; and c) utility other, which includes steam operations and the unallocated portions of the utility business.
|
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Three Months Ended March 31, 2017
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$356.2
|
|
|
|
$83.1
|
|
|
|
$11.2
|
|
|
|
$450.5
|
|
Operating income
|
33.8
|
|
|
14.4
|
|
|
1.4
|
|
|
49.6
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
37.2
|
|
|||||||
Three Months Ended March 31, 2016
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$361.6
|
|
|
|
$84.2
|
|
|
|
$12.9
|
|
|
|
$458.7
|
|
Operating income
|
43.4
|
|
|
15.8
|
|
|
2.8
|
|
|
62.0
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
45.6
|
|
|
24
|
|
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Three Months Ended March 31, 2017
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$321.4
|
|
|
|
$71.2
|
|
|
|
$0.5
|
|
|
|
$393.1
|
|
Operating income (loss)
|
73.4
|
|
|
13.6
|
|
|
(1.0
|
)
|
|
86.0
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
45.5
|
|
|||||||
Three Months Ended March 31, 2016
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$307.3
|
|
|
|
$68.0
|
|
|
|
$0.3
|
|
|
|
$375.6
|
|
Operating income (loss)
|
66.4
|
|
|
13.0
|
|
|
(0.6
|
)
|
|
78.8
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
46.5
|
|
|
IPL
|
|
WPL
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Corporate Services billings
|
|
$39
|
|
|
|
$38
|
|
|
|
$31
|
|
|
|
$33
|
|
Sales credited
|
2
|
|
|
1
|
|
|
—
|
|
|
1
|
|
||||
Purchases billed
|
66
|
|
|
96
|
|
|
34
|
|
|
19
|
|
|
IPL
|
|
WPL
|
||||
|
March 31, 2017
|
|
December 31, 2016
|
|
March 31, 2017
|
|
December 31, 2016
|
Net payables to Corporate Services
|
$103
|
|
$104
|
|
$65
|
|
$72
|
|
2017
|
|
2016
|
||||
ATC, LLC billings to WPL
|
|
$26
|
|
|
|
$27
|
|
WPL billings to ATC, LLC
|
3
|
|
|
3
|
|
|
25
|
|
|
2017
|
|
2016
|
||||
Operating expenses (income)
|
|
($2.3
|
)
|
|
|
$1.9
|
|
Income (loss) before income taxes
|
2.3
|
|
|
(1.9
|
)
|
||
Income tax expense (benefit)
|
0.9
|
|
|
(0.8
|
)
|
||
Income (loss) from discontinued operations, net of tax
|
|
$1.4
|
|
|
|
($1.1
|
)
|
|
2017
|
|
2016
|
||||||||||||
|
Income
|
|
EPS (a)
|
|
Income (Loss)
|
|
EPS (a)
|
||||||||
Continuing operations:
|
|
|
|
|
|
|
|
||||||||
Utilities, ATC Investment and Corporate Services
|
|
$92.8
|
|
|
|
$0.41
|
|
|
|
$95.4
|
|
|
|
$0.42
|
|
Non-regulated and Parent
|
6.2
|
|
|
0.02
|
|
|
2.2
|
|
|
0.01
|
|
||||
Income from continuing operations
|
99.0
|
|
|
0.43
|
|
|
97.6
|
|
|
0.43
|
|
||||
Income (loss) from discontinued operations
|
1.4
|
|
|
0.01
|
|
|
(1.1
|
)
|
|
—
|
|
||||
Net income
|
|
$100.4
|
|
|
|
$0.44
|
|
|
|
$96.5
|
|
|
|
$0.43
|
|
(a)
|
Amounts reflect the effects of a two-for-one common stock split distributed in May 2016.
|
|
26
|
|
•
|
Marshalltown Generating Station -
IPL’s construction of Marshalltown, an approximate
660
MW natural gas-fired combined-cycle EGU, was completed in April 2017. Final capital expenditures are currently estimated to be approximately $645 million to construct the EGU and a pipeline to supply natural gas to the EGU, excluding transmission network upgrades and AFUDC.
|
•
|
Franklin County Wind Farm -
In April 2017, the 99 MW Franklin County wind farm was transferred from AEF to IPL pursuant to a February 2017 FERC order.
|
•
|
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, IPL and WPL are currently exploring options to own and operate up to 400 MW and 200 MW, respectively, of additional new wind generation. Current estimated capital expenditures assume 200 MW of wind generation for each of IPL and WPL as they work to secure additional siting capacity and assess the economic benefits of these projects for their customers.
|
•
|
IPL’s Retail Electric Rate Review (2016 Test Year) -
In April 2017, IPL filed a request with the IUB to increase annual electric rates for its Iowa retail electric customers by $176 million, or approximately 12%. The request was based on a 2016 historical Test Year as adjusted for certain known and measurable changes occurring up to 12 months after the commencement of the proceeding. The key drivers for the filing included recovery of capital projects, primarily power grid modernization and investments that advance cleaner energy, including Marshalltown. An interim retail electric rate increase of $102 million, or approximately 7%, on an annual basis, was implemented effective April 13, 2017. IPL requested a decision from the IUB in 2017 with final rates effective in the first quarter of 2018.
|
•
|
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, LLC to determine electric transmission costs billed to utilities, including IPL and WPL. 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 (first complaint period). In the first quarter of 2017, Alliant Energy, IPL and WPL received the refunds for the first complaint period of $51 million, $40 million and $11 million, respectively, subject to final true-up by the end of July 2017. IPL and WPL each recorded the retail portion of the refunds to a regulatory liability. Pursuant to IUB approval, IPL’s retail portion of the refund from ITC will be refunded to its retail customers in 2017 beginning in May 2017. WPL’s retail portion of the refund from ATC, LLC will remain in a regulatory liability until such refunds are approved to be returned to retail customers in a future rate proceeding. IPL’s and WPL’s wholesale customers received their share of the refunds through normal monthly billing practices in the first quarter of 2017.
|
|
27
|
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
||||||||
Residential
|
|
$241.2
|
|
|
|
$241.3
|
|
|
—
|
%
|
|
1,764
|
|
|
1,841
|
|
|
(4
|
%)
|
Commercial
|
165.7
|
|
|
162.1
|
|
|
2
|
%
|
|
1,585
|
|
|
1,596
|
|
|
(1
|
%)
|
||
Industrial
|
177.7
|
|
|
175.1
|
|
|
1
|
%
|
|
2,631
|
|
|
2,504
|
|
|
5
|
%
|
||
Industrial - co-generation
|
17.3
|
|
|
17.5
|
|
|
(1
|
%)
|
|
213
|
|
|
262
|
|
|
(19
|
%)
|
||
Retail subtotal
|
601.9
|
|
|
596.0
|
|
|
1
|
%
|
|
6,193
|
|
|
6,203
|
|
|
—
|
%
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale
|
63.4
|
|
|
62.0
|
|
|
2
|
%
|
|
1,003
|
|
|
980
|
|
|
2
|
%
|
||
Bulk power and other
|
1.0
|
|
|
1.3
|
|
|
(23
|
%)
|
|
48
|
|
|
99
|
|
|
(52
|
%)
|
||
Other
|
11.3
|
|
|
9.6
|
|
|
18
|
%
|
|
26
|
|
|
25
|
|
|
4
|
%
|
||
Total revenues/sales
|
677.6
|
|
|
668.9
|
|
|
1
|
%
|
|
7,270
|
|
|
7,307
|
|
|
(1
|
%)
|
||
Electric production fuel expense
|
84.3
|
|
|
99.0
|
|
|
(15
|
%)
|
|
|
|
|
|
|
|||||
Purchased power expense
|
123.5
|
|
|
101.9
|
|
|
21
|
%
|
|
|
|
|
|
|
|||||
Electric transmission service expense
|
124.7
|
|
|
127.9
|
|
|
(3
|
%)
|
|
|
|
|
|
|
|||||
Electric margins (a)
|
|
$345.1
|
|
|
|
$340.1
|
|
|
1
|
%
|
|
|
|
|
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
||||||||
Residential
|
|
$123.3
|
|
|
|
$129.8
|
|
|
(5
|
%)
|
|
915
|
|
|
970
|
|
|
(6
|
%)
|
Commercial
|
99.5
|
|
|
98.3
|
|
|
1
|
%
|
|
993
|
|
|
1,005
|
|
|
(1
|
%)
|
||
Industrial
|
86.6
|
|
|
86.0
|
|
|
1
|
%
|
|
1,432
|
|
|
1,354
|
|
|
6
|
%
|
||
Industrial - co-generation
|
17.3
|
|
|
17.5
|
|
|
(1
|
%)
|
|
213
|
|
|
262
|
|
|
(19
|
%)
|
||
Retail subtotal
|
326.7
|
|
|
331.6
|
|
|
(1
|
%)
|
|
3,553
|
|
|
3,591
|
|
|
(1
|
%)
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale
|
21.3
|
|
|
23.2
|
|
|
(8
|
%)
|
|
334
|
|
|
340
|
|
|
(2
|
%)
|
||
Bulk power and other
|
1.0
|
|
|
0.6
|
|
|
67
|
%
|
|
16
|
|
|
8
|
|
|
100
|
%
|
||
Other
|
7.2
|
|
|
6.2
|
|
|
16
|
%
|
|
10
|
|
|
9
|
|
|
11
|
%
|
||
Total revenues/sales
|
356.2
|
|
|
361.6
|
|
|
(1
|
%)
|
|
3,913
|
|
|
3,948
|
|
|
(1
|
%)
|
||
Electric production fuel expense
|
32.4
|
|
|
35.2
|
|
|
(8
|
%)
|
|
|
|
|
|
|
|||||
Purchased power expense
|
77.1
|
|
|
64.2
|
|
|
20
|
%
|
|
|
|
|
|
|
|||||
Electric transmission service expense
|
81.7
|
|
|
86.5
|
|
|
(6
|
%)
|
|
|
|
|
|
|
|||||
Electric margins (a)
|
|
$165.0
|
|
|
|
$175.7
|
|
|
(6
|
%)
|
|
|
|
|
|
|
|
28
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
MWhs Sold (MWhs in thousands)
|
||||||||||||||||
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
||||||||
Residential
|
|
$117.9
|
|
|
|
$111.5
|
|
|
6
|
%
|
|
849
|
|
|
871
|
|
|
(3
|
%)
|
Commercial
|
66.2
|
|
|
63.8
|
|
|
4
|
%
|
|
592
|
|
|
591
|
|
|
—
|
%
|
||
Industrial
|
91.1
|
|
|
89.1
|
|
|
2
|
%
|
|
1,199
|
|
|
1,150
|
|
|
4
|
%
|
||
Retail subtotal
|
275.2
|
|
|
264.4
|
|
|
4
|
%
|
|
2,640
|
|
|
2,612
|
|
|
1
|
%
|
||
Sales for resale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale
|
42.1
|
|
|
38.8
|
|
|
9
|
%
|
|
669
|
|
|
640
|
|
|
5
|
%
|
||
Bulk power and other
|
—
|
|
|
0.7
|
|
|
(100
|
%)
|
|
32
|
|
|
91
|
|
|
(65
|
%)
|
||
Other
|
4.1
|
|
|
3.4
|
|
|
21
|
%
|
|
16
|
|
|
16
|
|
|
—
|
%
|
||
Total revenues/sales
|
321.4
|
|
|
307.3
|
|
|
5
|
%
|
|
3,357
|
|
|
3,359
|
|
|
—
|
%
|
||
Electric production fuel expense
|
51.9
|
|
|
63.8
|
|
|
(19
|
%)
|
|
|
|
|
|
|
|||||
Purchased power expense
|
46.4
|
|
|
37.7
|
|
|
23
|
%
|
|
|
|
|
|
|
|||||
Electric transmission service expense
|
43.0
|
|
|
41.4
|
|
|
4
|
%
|
|
|
|
|
|
|
|||||
Electric margins
|
|
$180.1
|
|
|
|
$164.4
|
|
|
10
|
%
|
|
|
|
|
|
|
(a)
|
Includes $17 million and $15 million of electric tax benefit rider credits on IPL’s Iowa retail electric customers’ bills for the
first
quarters of
2017
and
2016
, respectively. The electric tax benefit rider results in reductions in electric revenues that are offset by reductions in income tax expense for the years ended December 31,
2017
and
2016
.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher margins at WPL from the impact of its 2017/2018 Test Period retail electric base rate increase (a)
|
|
$22
|
|
|
|
$—
|
|
|
|
$22
|
|
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)
|
(8
|
)
|
|
—
|
|
|
(8
|
)
|
|||
Lower retail electric sales due to one additional day in 2016 for leap year
|
(4
|
)
|
|
(2
|
)
|
|
(2
|
)
|
|||
Estimated changes in sales caused by temperatures (Refer to “Temperatures” below for details)
|
(3
|
)
|
|
(1
|
)
|
|
(2
|
)
|
|||
Revenue requirement adjustment in 2016 related to certain tax benefits from tax accounting method changes at IPL
|
(3
|
)
|
|
(3
|
)
|
|
—
|
|
|||
Lower revenues at IPL due to higher electric tax benefit rider credits on customers’ bills (Refer to
Note 2
for details)
|
(2
|
)
|
|
(2
|
)
|
|
—
|
|
|||
Other (Refer to “Sales Trends” below for details)
|
3
|
|
|
(3
|
)
|
|
6
|
|
|||
|
|
$5
|
|
|
|
($11
|
)
|
|
|
$16
|
|
(a)
|
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%. The $9 million net annual retail electric rate increase reflects a $60 million increase in base rates, partially offset by a $51 million reduction in fuel-related costs, using an estimate for 2017 fuel-related costs. The increase was effective January 1, 2017 and extends through the end of 2018. WPL no longer has winter rates that are lower than summer rates. Thus, the quarter-over-quarter variances resulting from the retail electric base rate increase will be larger during the winter quarters, compared to the summer quarters.
|
|
Actual
|
|
|
|||||
|
2017
|
|
2016
|
|
Normal
|
|||
HDD:
|
|
|
|
|
|
|||
Cedar Rapids, Iowa (IPL)
|
2,919
|
|
|
3,069
|
|
|
3,451
|
|
Madison, Wisconsin (WPL)
|
3,130
|
|
|
3,258
|
|
|
3,539
|
|
|
29
|
|
|
2017
|
|
2016
|
|
Resulting Impact in 2017 Compared to 2016
|
First quarter (HDD)
|
13% warmer than normal
|
|
10% warmer than normal
|
|
Decrease in IPL’s and WPL’s electric and gas sales due to lower demand by customers for heating
|
|
2017
|
|
2016
|
|
Change
|
||||||
IPL
|
|
($5
|
)
|
|
|
($4
|
)
|
|
|
($1
|
)
|
WPL
|
(4
|
)
|
|
(2
|
)
|
|
(2
|
)
|
|||
Total Alliant Energy
|
|
($9
|
)
|
|
|
($6
|
)
|
|
|
($3
|
)
|
|
30
|
|
Alliant Energy
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
||||||||
Residential
|
|
$89.9
|
|
|
|
$88.1
|
|
|
2
|
%
|
|
11,744
|
|
|
12,116
|
|
|
(3
|
%)
|
Commercial
|
49.8
|
|
|
49.9
|
|
|
—
|
%
|
|
7,844
|
|
|
8,084
|
|
|
(3
|
%)
|
||
Industrial
|
4.8
|
|
|
5.0
|
|
|
(4
|
%)
|
|
972
|
|
|
971
|
|
|
—
|
%
|
||
Retail subtotal
|
144.5
|
|
|
143.0
|
|
|
1
|
%
|
|
20,560
|
|
|
21,171
|
|
|
(3
|
%)
|
||
Transportation/other
|
9.8
|
|
|
9.2
|
|
|
7
|
%
|
|
19,108
|
|
|
22,235
|
|
|
(14
|
%)
|
||
Total revenues/sales
|
154.3
|
|
|
152.2
|
|
|
1
|
%
|
|
39,668
|
|
|
43,406
|
|
|
(9
|
%)
|
||
Cost of gas sold
|
92.2
|
|
|
95.2
|
|
|
(3
|
%)
|
|
|
|
|
|
|
|||||
Gas margins (a)
|
|
$62.1
|
|
|
|
$57.0
|
|
|
9
|
%
|
|
|
|
|
|
|
IPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
||||||||
Residential
|
|
$47.9
|
|
|
|
$48.8
|
|
|
(2
|
%)
|
|
6,234
|
|
|
6,616
|
|
|
(6
|
%)
|
Commercial
|
25.8
|
|
|
27.1
|
|
|
(5
|
%)
|
|
3,958
|
|
|
4,175
|
|
|
(5
|
%)
|
||
Industrial
|
2.8
|
|
|
2.9
|
|
|
(3
|
%)
|
|
600
|
|
|
552
|
|
|
9
|
%
|
||
Retail subtotal
|
76.5
|
|
|
78.8
|
|
|
(3
|
%)
|
|
10,792
|
|
|
11,343
|
|
|
(5
|
%)
|
||
Transportation/other
|
6.6
|
|
|
5.4
|
|
|
22
|
%
|
|
10,740
|
|
|
9,418
|
|
|
14
|
%
|
||
Total revenues/sales
|
83.1
|
|
|
84.2
|
|
|
(1
|
%)
|
|
21,532
|
|
|
20,761
|
|
|
4
|
%
|
||
Cost of gas sold
|
47.8
|
|
|
52.4
|
|
|
(9
|
%)
|
|
|
|
|
|
|
|||||
Gas margins (a)
|
|
$35.3
|
|
|
|
$31.8
|
|
|
11
|
%
|
|
|
|
|
|
|
WPL
|
Revenues and Costs (dollars in millions)
|
|
Dths Sold (Dths in thousands)
|
||||||||||||||||
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
||||||||
Residential
|
|
$42.0
|
|
|
|
$39.3
|
|
|
7
|
%
|
|
5,510
|
|
|
5,500
|
|
|
—
|
%
|
Commercial
|
24.0
|
|
|
22.8
|
|
|
5
|
%
|
|
3,886
|
|
|
3,909
|
|
|
(1
|
%)
|
||
Industrial
|
2.0
|
|
|
2.1
|
|
|
(5
|
%)
|
|
372
|
|
|
419
|
|
|
(11
|
%)
|
||
Retail subtotal
|
68.0
|
|
|
64.2
|
|
|
6
|
%
|
|
9,768
|
|
|
9,828
|
|
|
(1
|
%)
|
||
Transportation/other
|
3.2
|
|
|
3.8
|
|
|
(16
|
%)
|
|
8,368
|
|
|
12,817
|
|
|
(35
|
%)
|
||
Total revenues/sales
|
71.2
|
|
|
68.0
|
|
|
5
|
%
|
|
18,136
|
|
|
22,645
|
|
|
(20
|
%)
|
||
Cost of gas sold
|
44.4
|
|
|
42.8
|
|
|
4
|
%
|
|
|
|
|
|
|
|||||
Gas margins
|
|
$26.8
|
|
|
|
$25.2
|
|
|
6
|
%
|
|
|
|
|
|
|
(a)
|
Includes $2 million and $3 million of gas tax benefit rider credits on IPL’s Iowa retail gas customers’ bills for the
first
quarters of
2017
and
2016
, respectively. The gas tax benefit rider results in reductions in gas revenues that are offset by reductions in income tax expense for the years ended December 31,
2017
and
2016
.
|
|
31
|
|
(a)
|
In December 2016,
WPL received an order from the PSCW authorizing WPL to implement an increase in annual retail gas base rates of $9 million, or approximately 13%. The increase is effective January 1, 2017 and extends through the end of 2018.
|
(b)
|
Changes in gas energy efficiency revenues were mostly offset by changes in energy efficiency expense included in other operation and maintenance expenses.
|
|
2017
|
|
2016
|
|
Change
|
||||||
IPL
|
|
($3
|
)
|
|
|
($2
|
)
|
|
|
($1
|
)
|
WPL
|
(2
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|||
Total Alliant Energy
|
|
($5
|
)
|
|
|
($3
|
)
|
|
|
($2
|
)
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher energy efficiency cost recovery amortizations at WPL (a)
|
|
$7
|
|
|
|
$—
|
|
|
|
$7
|
|
Higher bad debt expense
|
7
|
|
|
4
|
|
|
3
|
|
|||
Other
|
(6
|
)
|
|
(1
|
)
|
|
(5
|
)
|
|||
|
|
$8
|
|
|
|
$3
|
|
|
|
$5
|
|
(a)
|
The December 2016 PSCW order for WPL’s 2017/2018 Test Period electric and gas base rate review authorized changes in energy efficiency cost recovery amortizations for 2017 and 2018.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher depreciation expense at WPL due to updated depreciation rates effective January 2017 approved by the PSCW and FERC
|
|
$3
|
|
|
|
$—
|
|
|
|
$3
|
|
Higher depreciation expense for WPL’s Edgewater Unit 5 scrubber and baghouse placed in service in 2016
|
2
|
|
|
—
|
|
|
2
|
|
|||
Other
|
—
|
|
|
1
|
|
|
—
|
|
|||
|
|
$5
|
|
|
|
$1
|
|
|
|
$5
|
|
|
32
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Marshalltown (IPL)
|
|
$2
|
|
|
|
$2
|
|
|
|
$—
|
|
Riverside expansion (WPL)
|
1
|
|
|
—
|
|
|
1
|
|
|||
Other
|
1
|
|
|
2
|
|
|
(1
|
)
|
|||
|
|
$4
|
|
|
|
$4
|
|
|
|
$—
|
|
Wind Generation (a)
|
|
Regulatory Application Filing Status
|
IPL - up to 500 MW
|
|
Approved by the IUB
|
IPL - up to 400 MW (b)
|
|
Plan to file with the IUB in 2017
|
WPL - up to 200 MW (b)
|
|
Plan to file with the PSCW in 2017
|
(a)
|
IPL and WPL believe their respective planned and potential expansion of wind generation qualifies for the full level of production tax credits as a result of progress payments in 2016 for wind turbines.
|
(b)
|
Current estimated capital expenditures assume 200 MW of wind generation for each of IPL and WPL as they work to secure additional siting capacity and assess the economic benefits of these projects for their customers.
|
|
33
|
|
|
Interim Rates
|
|
Final Rates
|
Regulatory capital structure:
|
|
|
|
Common equity
|
49.1%
|
|
49.1%
|
Long-term debt
|
46.3%
|
|
46.7%
|
Preferred equity
|
4.6%
|
|
4.2%
|
After-tax weighted average cost of capital:
|
|
|
|
Marshalltown (ROE - 11.0%)
|
8.1%
|
|
8.0%
|
Emery (ROE - 12.23%)
|
8.7%
|
|
8.6%
|
Whispering Willow - East (ROE - 11.7%)
|
8.4%
|
|
8.3%
|
Other (ROE - 9.6% for interim rates and 10.3% for final rates) (a)
|
7.4%
|
|
7.7%
|
Retail electric rate base (b)
|
$3.8 billion
|
|
$4.1 billion
|
(a)
|
Other ROE for interim rates reflects the application of double leverage. Prior to application of double leverage, Other ROE for interim rates was 10.0%.
|
(b)
|
The retail electric rate base for interim rates includes post-test year capital additions placed in service prior to the rate filing in April 2017, including Marshalltown and the Franklin County wind farm. The proposed retail electric rate base for final rates also includes deferred tax assets for production tax credits for Whispering Willow-East and post-test year capital additions expected to be placed in service by September 30, 2017.
|
|
34
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||
Cash and cash equivalents, January 1
|
|
$8.2
|
|
|
|
$5.8
|
|
|
|
$3.3
|
|
|
|
$4.5
|
|
|
|
$4.2
|
|
|
|
$0.4
|
|
Cash flows from (used for):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating activities
|
333.7
|
|
|
228.3
|
|
|
176.3
|
|
|
116.4
|
|
|
145.6
|
|
|
123.6
|
|
||||||
Investing activities
|
(303.6
|
)
|
|
(220.0
|
)
|
|
(136.3
|
)
|
|
(123.2
|
)
|
|
(149.3
|
)
|
|
(91.4
|
)
|
||||||
Financing activities
|
(29.9
|
)
|
|
(9.3
|
)
|
|
(39.2
|
)
|
|
5.3
|
|
|
1.6
|
|
|
(31.3
|
)
|
||||||
Net increase (decrease)
|
0.2
|
|
|
(1.0
|
)
|
|
0.8
|
|
|
(1.5
|
)
|
|
(2.1
|
)
|
|
0.9
|
|
||||||
Cash and cash equivalents,
March 31
|
|
$8.4
|
|
|
|
$4.8
|
|
|
|
$4.1
|
|
|
|
$3.0
|
|
|
|
$2.1
|
|
|
|
$1.3
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Refunds received from ITC and ATC, LLC in 2017 (Refer to
Note 2
for details)
|
|
$51
|
|
|
|
$40
|
|
|
|
$11
|
|
Higher collections at WPL due to new retail electric and gas base rates in 2017
|
24
|
|
|
—
|
|
|
24
|
|
|||
Changes in the level of cash proceeds from IPL’s sales of accounts receivable
|
(22
|
)
|
|
(22
|
)
|
|
—
|
|
|||
Timing of WPL’s fuel-related cost recoveries from customers
|
(15
|
)
|
|
—
|
|
|
(15
|
)
|
|||
Other (primarily due to higher collections of receivables at IPL in 2017 and other changes in working capital)
|
67
|
|
|
42
|
|
|
2
|
|
|||
|
|
$105
|
|
|
|
$60
|
|
|
|
$22
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower (higher) utility construction expenditures (largely due to higher expenditures for IPL’s and WPL’s electric and gas distribution systems and WPL’s Riverside expansion, partially offset by lower expenditures for IPL’s Marshalltown facility)
|
|
($56
|
)
|
|
|
$8
|
|
|
|
($56
|
)
|
Proceeds from the liquidation of company-owned life insurance policies in 2016
|
(26
|
)
|
|
(18
|
)
|
|
—
|
|
|||
Other
|
(2
|
)
|
|
(3
|
)
|
|
(2
|
)
|
|||
|
|
($84
|
)
|
|
|
($13
|
)
|
|
|
($58
|
)
|
|
35
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Changes in outstanding checks that have not yet cleared the bank
|
|
($17
|
)
|
|
|
($13
|
)
|
|
|
$—
|
|
Net changes in the amount of commercial paper outstanding
|
5
|
|
|
9
|
|
|
33
|
|
|||
Capital contributions from IPL’s parent company, Alliant Energy, in 2016
|
—
|
|
|
(40
|
)
|
|
—
|
|
|||
Other (includes higher dividend payments in 2017)
|
(9
|
)
|
|
(1
|
)
|
|
—
|
|
|||
|
|
($21
|
)
|
|
|
($45
|
)
|
|
|
$33
|
|
|
36
|
|
|
|
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)
|
|||
January 1 through January 31
|
|
2,444
|
|
|
|
$37.58
|
|
|
—
|
|
N/A
|
February 1 through February 28
|
|
49,866
|
|
|
38.99
|
|
|
—
|
|
N/A
|
|
March 1 through March 31
|
|
2,067
|
|
|
38.74
|
|
|
—
|
|
N/A
|
|
|
|
54,377
|
|
|
38.92
|
|
|
—
|
|
|
(a)
|
Includes 2,444, 4,019, and 2,067 shares of Alliant Energy common stock for January 1 through January 31, February 1 through February 28 and March 1 through March 31, respectively, purchased on the open market and held in a rabbi trust under the Alliant Energy Deferred Compensation Plan. There is no limit on the number of shares of Alliant Energy common stock that may be held under the Deferred Compensation Plan, which currently does not have an expiration date. Also includes 45,847 shares of Alliant Energy common stock for February 1 through February 28 transferred from employees to Alliant Energy to satisfy tax withholding requirements in connection with the vesting of certain restricted stock under equity-based compensation plans.
|
|
37
|
|
ALLIANT ENERGY CORPORATION
|
|
Registrant
|
|
|
|
By: /s/ Benjamin M. Bilitz
|
Chief Accounting Officer and Controller
|
Benjamin M. Bilitz
|
(Principal Accounting Officer and Authorized Signatory)
|
INTERSTATE POWER AND LIGHT COMPANY
|
|
Registrant
|
|
|
|
By: /s/ Benjamin M. Bilitz
|
Chief Accounting Officer and Controller
|
Benjamin M. Bilitz
|
(Principal Accounting Officer and Authorized Signatory)
|
WISCONSIN POWER AND LIGHT COMPANY
|
|
Registrant
|
|
|
|
By: /s/ Benjamin M. Bilitz
|
Chief Accounting Officer and Controller
|
Benjamin M. Bilitz
|
(Principal Accounting Officer and Authorized Signatory)
|
Exhibit Number
|
|
Description
|
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
101.INS
|
|
XBRL Instance Document
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
38
|
|
|
Three Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
March 31,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2017
|
|
2016
|
|
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income from continuing operations attributable to Alliant Energy Corporation common shareowners
|
|
$99.0
|
|
|
|
$97.6
|
|
|
|
$373.8
|
|
|
$380.7
|
|
|
$385.5
|
|
|
$364.2
|
|
|
$324.9
|
|
Income taxes (a)
|
17.6
|
|
|
21.6
|
|
|
59.4
|
|
70.4
|
|
44.3
|
|
53.9
|
|
89.4
|
|
|||||||
Subtotal
|
116.6
|
|
|
119.2
|
|
|
433.2
|
|
451.1
|
|
429.8
|
|
418.1
|
|
414.3
|
|
|||||||
Fixed charges as defined
|
56.0
|
|
|
51.7
|
|
|
210.2
|
|
202.3
|
|
195.7
|
|
189.0
|
|
208.0
|
|
|||||||
Adjustment for undistributed equity earnings
|
(1.9
|
)
|
|
(6.5
|
)
|
|
(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)
|
3.1
|
|
|
3.2
|
|
|
11.8
|
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
|||||||
Total earnings as defined
|
|
$167.6
|
|
|
|
$161.2
|
|
|
|
$620.1
|
|
|
$636.9
|
|
|
$609.2
|
|
|
$585.3
|
|
|
$589.0
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$52.3
|
|
|
|
$48.0
|
|
|
|
$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
|
0.6
|
|
|
0.5
|
|
|
2.0
|
|
1.9
|
|
2.8
|
|
2.7
|
|
25.1
|
|
|||||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
3.1
|
|
|
3.2
|
|
|
11.8
|
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
|||||||
Total fixed charges as defined
|
|
$56.0
|
|
|
|
$51.7
|
|
|
|
$210.2
|
|
|
$202.3
|
|
|
$195.7
|
|
|
$189.0
|
|
|
$208.0
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges (c)
|
2.99
|
|
|
3.12
|
|
|
2.95
|
|
3.15
|
|
3.11
|
|
3.10
|
|
2.83
|
|
|
Three Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
March 31,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2017
|
|
2016
|
|
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income
|
|
$39.8
|
|
|
|
$48.2
|
|
|
|
$225.8
|
|
|
$196.2
|
|
|
$191.8
|
|
|
$188.3
|
|
|
$158.3
|
|
Income tax benefit (a)
|
(3.7
|
)
|
|
(0.8
|
)
|
|
(5.9
|
)
|
(22.7
|
)
|
(48.9
|
)
|
(36.3
|
)
|
(27.9
|
)
|
|||||||
Income before income taxes
|
36.1
|
|
|
47.4
|
|
|
219.9
|
|
173.5
|
|
142.9
|
|
152.0
|
|
130.4
|
|
|||||||
Fixed charges as defined
|
27.8
|
|
|
25.0
|
|
|
103.7
|
|
97.2
|
|
91.0
|
|
82.3
|
|
79.3
|
|
|||||||
Total earnings as defined
|
|
$63.9
|
|
|
|
$72.4
|
|
|
|
$323.6
|
|
|
$270.7
|
|
|
$233.9
|
|
|
$234.3
|
|
|
$209.7
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$27.7
|
|
|
|
$24.9
|
|
|
|
$103.2
|
|
|
$96.8
|
|
|
$89.9
|
|
|
$81.3
|
|
|
$78.5
|
|
Estimated interest component of rent expense
|
0.1
|
|
|
0.1
|
|
|
0.5
|
|
0.4
|
|
1.1
|
|
1.0
|
|
0.8
|
|
|||||||
Total fixed charges as defined
|
|
$27.8
|
|
|
|
$25.0
|
|
|
|
$103.7
|
|
|
$97.2
|
|
|
$91.0
|
|
|
$82.3
|
|
|
$79.3
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges
|
2.30
|
|
|
2.90
|
|
|
3.12
|
|
2.78
|
|
2.57
|
|
2.85
|
|
2.64
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Preferred dividend requirements (pre-tax basis) (b)
|
|
$2.4
|
|
|
|
$2.6
|
|
|
|
$9.9
|
|
|
$9.0
|
|
|
$7.6
|
|
|
$8.7
|
|
|
$10.4
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Fixed charges and preferred dividend requirements
|
|
$30.2
|
|
|
|
$27.6
|
|
|
|
$113.6
|
|
|
$106.2
|
|
|
$98.6
|
|
|
$91.0
|
|
|
$89.7
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements
|
2.12
|
|
|
2.62
|
|
|
2.85
|
|
2.55
|
|
2.37
|
|
2.57
|
|
2.34
|
|
|
Three Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
March 31,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2017
|
|
2016
|
|
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income
|
|
$45.5
|
|
|
|
$47.0
|
|
|
|
$192.8
|
|
|
$177.6
|
|
|
$181.1
|
|
|
$179.1
|
|
|
$172.7
|
|
Income taxes (a)
|
20.4
|
|
|
22.6
|
|
|
93.3
|
|
82.9
|
|
85.3
|
|
85.6
|
|
87.6
|
|
|||||||
Income before income taxes
|
65.9
|
|
|
69.6
|
|
|
286.1
|
|
260.5
|
|
266.4
|
|
264.7
|
|
260.3
|
|
|||||||
Fixed charges as defined
|
23.3
|
|
|
23.2
|
|
|
92.7
|
|
93.7
|
|
87.7
|
|
86.4
|
|
103.9
|
|
|||||||
Adjustment for undistributed equity earnings
|
—
|
|
|
(6.7
|
)
|
|
(11.5
|
)
|
(4.5
|
)
|
(6.4
|
)
|
(8.3
|
)
|
(7.9
|
)
|
|||||||
Total earnings as defined
|
|
$89.2
|
|
|
|
$86.1
|
|
|
|
$367.3
|
|
|
$349.7
|
|
|
$347.7
|
|
|
$342.8
|
|
|
$356.3
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$22.9
|
|
|
|
$22.9
|
|
|
|
$91.4
|
|
|
$92.4
|
|
|
$86.4
|
|
|
$85.0
|
|
|
$80.2
|
|
Estimated interest component of rent expense
|
0.4
|
|
|
0.3
|
|
|
1.3
|
|
1.3
|
|
1.3
|
|
1.4
|
|
23.7
|
|
|||||||
Total fixed charges as defined
|
|
$23.3
|
|
|
|
$23.2
|
|
|
|
$92.7
|
|
|
$93.7
|
|
|
$87.7
|
|
|
$86.4
|
|
|
$103.9
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges
|
3.83
|
|
|
3.71
|
|
|
3.96
|
|
3.73
|
|
3.96
|
|
3.97
|
|
3.43
|
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman, President and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5.
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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):
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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
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b)
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Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
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/s/ Patricia L. Kampling
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Patricia L. Kampling
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Chairman and Chief Executive Officer
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1.
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I have reviewed this quarterly report on Form 10-Q of Wisconsin Power and Light Company;
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2.
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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;
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3.
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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;
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4.
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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:
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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;
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b)
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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;
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c)
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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
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d)
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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
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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
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/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
|