|
|
|
|
|
|
|
|
|
|
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Commission
File Number
|
|
Name of Registrant, State of Incorporation,
Address of Principal Executive Offices and Telephone Number
|
|
IRS Employer
Identification Number
|
1-9894
|
|
ALLIANT ENERGY CORPORATION
|
|
39-1380265
|
|
|
(a Wisconsin corporation)
|
|
|
|
|
4902 N. Biltmore Lane
|
|
|
|
|
Madison, Wisconsin 53718
|
|
|
|
|
Telephone (608) 458-3311
|
|
|
|
|
|
||
1-4117
|
|
INTERSTATE POWER AND LIGHT COMPANY
|
|
42-0331370
|
|
|
(an Iowa corporation)
|
|
|
|
|
Alliant Energy Tower
|
|
|
|
|
Cedar Rapids, Iowa 52401
|
|
|
|
|
Telephone (319) 786-4411
|
|
|
|
|
|
||
0-337
|
|
WISCONSIN POWER AND LIGHT COMPANY
|
|
39-0714890
|
|
|
(a Wisconsin corporation)
|
|
|
|
|
4902 N. Biltmore Lane
|
|
|
|
|
Madison, Wisconsin 53718
|
|
|
|
|
Telephone (608) 458-3311
|
|
|
|
Large Accelerated Filer
|
|
Accelerated Filer
|
|
Non-accelerated Filer
|
|
Smaller Reporting Company
|
|
Emerging Growth Company
|
Alliant Energy Corporation
|
☒
|
|
|
|
|
|
|
|
|
Interstate Power and Light Company
|
|
|
|
|
☒
|
|
|
|
|
Wisconsin Power and Light Company
|
|
|
|
|
☒
|
|
|
|
|
|
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
|
CDD
|
Cooling degree days
|
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 regulatory agency orders;
|
•
|
IPL’s and WPL’s ability to obtain adequate and timely rate relief to allow for, among other things, earning a return on rate base additions and the recovery of costs, including fuel costs, operating costs, transmission costs, environmental compliance and remediation costs, deferred expenditures, deferred tax assets, 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 new wind farms and the impact of changes to production tax credits for existing wind farms;
|
|
1
|
|
•
|
issues related to the availability and operations of EGUs, including start-up risks, breakdown or failure of equipment, performance below expected or contracted levels of output or efficiency, operator error, employee safety, transmission constraints, compliance with mandatory reliability standards and risks related to recovery of resulting incremental costs through rates;
|
•
|
disruptions in the supply and delivery of natural gas, purchased electricity and coal;
|
•
|
changes in the price of delivered natural gas, purchased electricity and coal due to shifts in supply and demand caused by market conditions and regulations;
|
•
|
impacts on equity income from unconsolidated investments due to further potential changes to ATC 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 electric and gas distribution systems, such as mechanical problems and explosions or fires, and compliance with electric and gas transmission and distribution safety regulations;
|
•
|
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;
|
•
|
risks associated with non-regulated renewable investments;
|
•
|
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;
|
•
|
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;
|
•
|
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
|
|
For the Nine Months
|
||||||||||||
|
Ended September 30,
|
|
Ended September 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
(in millions, except per share amounts)
|
||||||||||||||
Operating revenues:
|
|
|
|
|
|
|
|
||||||||
Electric utility
|
|
$840.6
|
|
|
|
$864.3
|
|
|
|
$2,199.1
|
|
|
|
$2,209.1
|
|
Gas utility
|
45.8
|
|
|
39.5
|
|
|
262.7
|
|
|
248.7
|
|
||||
Other utility
|
11.2
|
|
|
9.4
|
|
|
34.4
|
|
|
35.0
|
|
||||
Non-regulated
|
9.3
|
|
|
11.4
|
|
|
29.9
|
|
|
30.2
|
|
||||
Total operating revenues
|
906.9
|
|
|
924.6
|
|
|
2,526.1
|
|
|
2,523.0
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Electric production fuel and purchased power
|
222.6
|
|
|
245.9
|
|
|
614.7
|
|
|
646.3
|
|
||||
Electric transmission service
|
121.0
|
|
|
138.6
|
|
|
363.3
|
|
|
396.8
|
|
||||
Cost of gas sold
|
15.0
|
|
|
12.5
|
|
|
135.5
|
|
|
132.3
|
|
||||
Asset valuation charges for Franklin County wind farm
|
—
|
|
|
86.4
|
|
|
—
|
|
|
86.4
|
|
||||
Other operation and maintenance
|
169.1
|
|
|
148.6
|
|
|
467.1
|
|
|
438.2
|
|
||||
Depreciation and amortization
|
120.7
|
|
|
104.1
|
|
|
342.7
|
|
|
308.7
|
|
||||
Taxes other than income taxes
|
27.0
|
|
|
25.9
|
|
|
79.1
|
|
|
77.2
|
|
||||
Total operating expenses
|
675.4
|
|
|
762.0
|
|
|
2,002.4
|
|
|
2,085.9
|
|
||||
Operating income
|
231.5
|
|
|
162.6
|
|
|
523.7
|
|
|
437.1
|
|
||||
Interest expense and other:
|
|
|
|
|
|
|
|
||||||||
Interest expense
|
53.9
|
|
|
48.8
|
|
|
159.0
|
|
|
144.8
|
|
||||
Equity income from unconsolidated investments, net
|
(10.1
|
)
|
|
(9.2
|
)
|
|
(32.9
|
)
|
|
(28.8
|
)
|
||||
Allowance for funds used during construction
|
(9.6
|
)
|
|
(15.8
|
)
|
|
(36.7
|
)
|
|
(44.3
|
)
|
||||
Interest income and other
|
(0.2
|
)
|
|
(0.1
|
)
|
|
(0.4
|
)
|
|
(0.3
|
)
|
||||
Total interest expense and other
|
34.0
|
|
|
23.7
|
|
|
89.0
|
|
|
71.4
|
|
||||
Income from continuing operations before income taxes
|
197.5
|
|
|
138.9
|
|
|
434.7
|
|
|
365.7
|
|
||||
Income taxes
|
26.1
|
|
|
7.5
|
|
|
64.9
|
|
|
47.2
|
|
||||
Income from continuing operations, net of tax
|
171.4
|
|
|
131.4
|
|
|
369.8
|
|
|
318.5
|
|
||||
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
(0.4
|
)
|
|
1.4
|
|
|
(2.0
|
)
|
||||
Net income
|
171.4
|
|
|
131.0
|
|
|
371.2
|
|
|
316.5
|
|
||||
Preferred dividend requirements of Interstate Power and Light Company
|
2.6
|
|
|
2.6
|
|
|
7.7
|
|
|
7.7
|
|
||||
Net income attributable to Alliant Energy common shareowners
|
|
$168.8
|
|
|
|
$128.4
|
|
|
|
$363.5
|
|
|
|
$308.8
|
|
Weighted average number of common shares outstanding (basic and diluted)
|
231.0
|
|
|
227.2
|
|
|
229.2
|
|
|
227.0
|
|
||||
Earnings per weighted average common share attributable to Alliant Energy common
shareowners (basic and diluted):
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations, net of tax
|
|
$0.73
|
|
|
|
$0.57
|
|
|
|
$1.58
|
|
|
|
$1.37
|
|
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
—
|
|
|
0.01
|
|
|
(0.01
|
)
|
||||
Net income
|
|
$0.73
|
|
|
|
$0.57
|
|
|
|
$1.59
|
|
|
|
$1.36
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations, net of tax
|
|
$168.8
|
|
|
|
$128.8
|
|
|
|
$362.1
|
|
|
|
$310.8
|
|
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
(0.4
|
)
|
|
1.4
|
|
|
(2.0
|
)
|
||||
Net income
|
|
$168.8
|
|
|
|
$128.4
|
|
|
|
$363.5
|
|
|
|
$308.8
|
|
Dividends declared per common share
|
|
$0.315
|
|
|
|
$0.29375
|
|
|
|
$0.945
|
|
|
|
$0.88125
|
|
|
3
|
|
|
September 30,
2017 |
|
December 31,
2016 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$9.2
|
|
|
|
$8.2
|
|
Accounts receivable, less allowance for doubtful accounts
|
336.1
|
|
|
493.3
|
|
||
Production fuel, at weighted average cost
|
80.9
|
|
|
98.1
|
|
||
Gas stored underground, at weighted average cost
|
40.6
|
|
|
37.6
|
|
||
Materials and supplies, at weighted average cost
|
99.1
|
|
|
86.6
|
|
||
Regulatory assets
|
84.2
|
|
|
57.8
|
|
||
Other
|
101.4
|
|
|
95.5
|
|
||
Total current assets
|
751.5
|
|
|
877.1
|
|
||
Property, plant and equipment, net
|
10,931.1
|
|
|
10,279.2
|
|
||
Investments:
|
|
|
|
||||
ATC Investment
|
339.2
|
|
|
317.6
|
|
||
Other
|
119.4
|
|
|
20.0
|
|
||
Total investments
|
458.6
|
|
|
337.6
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,952.3
|
|
|
1,857.3
|
|
||
Deferred charges and other
|
21.4
|
|
|
22.6
|
|
||
Total other assets
|
1,973.7
|
|
|
1,879.9
|
|
||
Total assets
|
|
$14,114.9
|
|
|
|
$13,373.8
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$105.2
|
|
|
|
$4.6
|
|
Commercial paper
|
390.3
|
|
|
244.1
|
|
||
Other short-term borrowings
|
95.0
|
|
|
—
|
|
||
Accounts payable
|
478.1
|
|
|
445.3
|
|
||
Regulatory liabilities
|
145.1
|
|
|
186.2
|
|
||
Accrued taxes
|
39.4
|
|
|
59.5
|
|
||
Other
|
217.0
|
|
|
222.3
|
|
||
Total current liabilities
|
1,470.1
|
|
|
1,162.0
|
|
||
Long-term debt, net (excluding current portion)
|
4,255.1
|
|
|
4,315.6
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
2,774.7
|
|
|
2,570.2
|
|
||
Regulatory liabilities
|
483.4
|
|
|
494.8
|
|
||
Pension and other benefit obligations
|
481.3
|
|
|
489.9
|
|
||
Other
|
296.1
|
|
|
279.3
|
|
||
Total other liabilities
|
4,035.5
|
|
|
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; 231,204,360 and 227,673,654 shares outstanding
|
2.3
|
|
|
2.3
|
|
||
Additional paid-in capital
|
1,838.2
|
|
|
1,693.1
|
|
||
Retained earnings
|
2,324.8
|
|
|
2,177.0
|
|
||
Accumulated other comprehensive loss
|
(0.4
|
)
|
|
(0.4
|
)
|
||
Shares in deferred compensation trust - 454,532 and 441,695 shares at a weighted average cost of $23.52 and $22.71 per share
|
(10.7
|
)
|
|
(10.0
|
)
|
||
Total Alliant Energy Corporation common equity
|
4,154.2
|
|
|
3,862.0
|
|
||
Cumulative preferred stock of Interstate Power and Light Company
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
4,354.2
|
|
|
4,062.0
|
|
||
Total liabilities and equity
|
|
$14,114.9
|
|
|
|
$13,373.8
|
|
|
4
|
|
|
For the Nine Months
|
||||||
|
Ended September 30,
|
||||||
|
2017
|
|
2016
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$371.2
|
|
|
|
$316.5
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
342.7
|
|
|
308.7
|
|
||
Deferred tax expense and tax credits
|
102.7
|
|
|
76.7
|
|
||
Asset valuation charges for Franklin County wind farm
|
—
|
|
|
86.4
|
|
||
Other
|
(7.1
|
)
|
|
(44.0
|
)
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
72.8
|
|
|
(101.0
|
)
|
||
Sales of accounts receivable
|
91.0
|
|
|
(4.0
|
)
|
||
Regulatory assets
|
(108.9
|
)
|
|
36.6
|
|
||
Regulatory liabilities
|
(64.8
|
)
|
|
(66.5
|
)
|
||
Deferred income taxes
|
101.0
|
|
|
71.8
|
|
||
Other
|
(17.2
|
)
|
|
(27.2
|
)
|
||
Net cash flows from operating activities
|
883.4
|
|
|
654.0
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Construction and acquisition expenditures:
|
|
|
|
||||
Utility business
|
(909.7
|
)
|
|
(743.6
|
)
|
||
Alliant Energy Corporate Services, Inc. and non-regulated businesses
|
(139.7
|
)
|
|
(43.3
|
)
|
||
Other
|
(22.9
|
)
|
|
15.1
|
|
||
Net cash flows used for investing activities
|
(1,072.3
|
)
|
|
(771.8
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Common stock dividends
|
(215.7
|
)
|
|
(199.8
|
)
|
||
Proceeds from issuance of common stock, net
|
143.2
|
|
|
20.4
|
|
||
Proceeds from issuance of long-term debt
|
—
|
|
|
300.0
|
|
||
Net change in commercial paper and other short-term borrowings
|
281.2
|
|
|
78.5
|
|
||
Other
|
(18.8
|
)
|
|
(2.4
|
)
|
||
Net cash flows from financing activities
|
189.9
|
|
|
196.7
|
|
||
Net increase in cash and cash equivalents
|
1.0
|
|
|
78.9
|
|
||
Cash and cash equivalents at beginning of period
|
8.2
|
|
|
5.8
|
|
||
Cash and cash equivalents at end of period
|
|
$9.2
|
|
|
|
$84.7
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash paid during the period for:
|
|
|
|
||||
Interest, net of capitalized interest
|
|
($158.5
|
)
|
|
|
($140.7
|
)
|
Income taxes, net
|
|
($11.4
|
)
|
|
|
($8.3
|
)
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$197.2
|
|
|
|
$99.9
|
|
|
5
|
|
|
For the Three Months
|
|
For the Nine Months
|
||||||||||||
|
Ended September 30,
|
|
Ended September 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
(in millions)
|
||||||||||||||
Operating revenues:
|
|
|
|
|
|
|
|
||||||||
Electric utility
|
|
$489.0
|
|
|
|
$483.2
|
|
|
|
$1,217.6
|
|
|
|
$1,209.2
|
|
Gas utility
|
27.4
|
|
|
23.9
|
|
|
147.2
|
|
|
142.6
|
|
||||
Steam and other
|
11.0
|
|
|
9.1
|
|
|
33.3
|
|
|
34.1
|
|
||||
Total operating revenues
|
527.4
|
|
|
516.2
|
|
|
1,398.1
|
|
|
1,385.9
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Electric production fuel and purchased power
|
122.5
|
|
|
125.0
|
|
|
330.0
|
|
|
324.8
|
|
||||
Electric transmission service
|
78.2
|
|
|
95.9
|
|
|
235.0
|
|
|
270.7
|
|
||||
Cost of gas sold
|
9.9
|
|
|
8.0
|
|
|
74.6
|
|
|
76.3
|
|
||||
Other operation and maintenance
|
104.4
|
|
|
94.8
|
|
|
288.7
|
|
|
279.8
|
|
||||
Depreciation and amortization
|
66.2
|
|
|
52.7
|
|
|
181.0
|
|
|
157.8
|
|
||||
Taxes other than income taxes
|
14.4
|
|
|
13.9
|
|
|
41.1
|
|
|
40.6
|
|
||||
Total operating expenses
|
395.6
|
|
|
390.3
|
|
|
1,150.4
|
|
|
1,150.0
|
|
||||
Operating income
|
131.8
|
|
|
125.9
|
|
|
247.7
|
|
|
235.9
|
|
||||
Interest expense and other:
|
|
|
|
|
|
|
|
||||||||
Interest expense
|
27.9
|
|
|
25.5
|
|
|
83.5
|
|
|
75.4
|
|
||||
Allowance for funds used during construction
|
(4.7
|
)
|
|
(13.8
|
)
|
|
(25.1
|
)
|
|
(36.2
|
)
|
||||
Interest income and other
|
(0.1
|
)
|
|
—
|
|
|
(0.2
|
)
|
|
(0.1
|
)
|
||||
Total interest expense and other
|
23.1
|
|
|
11.7
|
|
|
58.2
|
|
|
39.1
|
|
||||
Income before income taxes
|
108.7
|
|
|
114.2
|
|
|
189.5
|
|
|
196.8
|
|
||||
Income tax benefit
|
(14.3
|
)
|
|
(2.5
|
)
|
|
(18.6
|
)
|
|
(2.5
|
)
|
||||
Net income
|
123.0
|
|
|
116.7
|
|
|
208.1
|
|
|
199.3
|
|
||||
Preferred dividend requirements
|
2.6
|
|
|
2.6
|
|
|
7.7
|
|
|
7.7
|
|
||||
Earnings available for common stock
|
|
$120.4
|
|
|
|
$114.1
|
|
|
|
$200.4
|
|
|
|
$191.6
|
|
|
6
|
|
|
September 30,
2017 |
|
December 31,
2016 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$4.7
|
|
|
|
$3.3
|
|
Accounts receivable, less allowance for doubtful accounts
|
143.5
|
|
|
240.7
|
|
||
Production fuel, at weighted average cost
|
56.7
|
|
|
70.3
|
|
||
Gas stored underground, at weighted average cost
|
21.6
|
|
|
16.3
|
|
||
Materials and supplies, at weighted average cost
|
52.6
|
|
|
46.5
|
|
||
Regulatory assets
|
38.9
|
|
|
17.7
|
|
||
Other
|
39.3
|
|
|
27.7
|
|
||
Total current assets
|
357.3
|
|
|
422.5
|
|
||
Property, plant and equipment, net
|
5,764.9
|
|
|
5,435.6
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,552.0
|
|
|
1,441.1
|
|
||
Deferred charges and other
|
8.5
|
|
|
5.5
|
|
||
Total other assets
|
1,560.5
|
|
|
1,446.6
|
|
||
Total assets
|
|
$7,682.7
|
|
|
|
$7,304.7
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$100.0
|
|
|
|
$—
|
|
Commercial paper
|
4.0
|
|
|
—
|
|
||
Accounts payable
|
224.6
|
|
|
186.3
|
|
||
Accounts payable to associated companies
|
56.4
|
|
|
43.3
|
|
||
Regulatory liabilities
|
85.9
|
|
|
149.6
|
|
||
Accrued taxes
|
39.3
|
|
|
53.8
|
|
||
Other
|
92.8
|
|
|
88.8
|
|
||
Total current liabilities
|
603.0
|
|
|
521.8
|
|
||
Long-term debt, net (excluding current portion)
|
2,095.0
|
|
|
2,153.5
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,643.5
|
|
|
1,511.8
|
|
||
Regulatory liabilities
|
298.9
|
|
|
281.2
|
|
||
Pension and other benefit obligations
|
171.4
|
|
|
173.2
|
|
||
Other
|
238.5
|
|
|
214.2
|
|
||
Total other liabilities
|
2,352.3
|
|
|
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
|
1,697.8
|
|
|
1,597.8
|
|
||
Retained earnings
|
701.2
|
|
|
617.8
|
|
||
Total Interstate Power and Light Company common equity
|
2,432.4
|
|
|
2,249.0
|
|
||
Cumulative preferred stock
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
2,632.4
|
|
|
2,449.0
|
|
||
Total liabilities and equity
|
|
$7,682.7
|
|
|
|
$7,304.7
|
|
|
7
|
|
|
For the Nine Months
|
||||||
|
Ended September 30,
|
||||||
|
2017
|
|
2016
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$208.1
|
|
|
|
$199.3
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
181.0
|
|
|
157.8
|
|
||
Other
|
26.2
|
|
|
24.3
|
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
12.4
|
|
|
(66.5
|
)
|
||
Sales of accounts receivable
|
91.0
|
|
|
(4.0
|
)
|
||
Regulatory assets
|
(107.8
|
)
|
|
(14.1
|
)
|
||
Regulatory liabilities
|
(49.6
|
)
|
|
(64.5
|
)
|
||
Deferred income taxes
|
88.9
|
|
|
67.7
|
|
||
Other
|
20.4
|
|
|
(43.5
|
)
|
||
Net cash flows from operating activities
|
470.6
|
|
|
256.5
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Utility construction and acquisition expenditures
|
(470.1
|
)
|
|
(436.5
|
)
|
||
Other
|
(23.5
|
)
|
|
1.1
|
|
||
Net cash flows used for investing activities
|
(493.6
|
)
|
|
(435.4
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Common stock dividends
|
(117.0
|
)
|
|
(114.0
|
)
|
||
Capital contributions from parent
|
100.0
|
|
|
65.0
|
|
||
Proceeds from issuance of long-term debt
|
—
|
|
|
300.0
|
|
||
Net change in commercial paper
|
44.0
|
|
|
—
|
|
||
Other
|
(2.6
|
)
|
|
1.1
|
|
||
Net cash flows from financing activities
|
24.4
|
|
|
252.1
|
|
||
Net increase in cash and cash equivalents
|
1.4
|
|
|
73.2
|
|
||
Cash and cash equivalents at beginning of period
|
3.3
|
|
|
4.5
|
|
||
Cash and cash equivalents at end of period
|
|
$4.7
|
|
|
|
$77.7
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash (paid) refunded during the period for:
|
|
|
|
||||
Interest
|
|
($84.1
|
)
|
|
|
($72.5
|
)
|
Income taxes, net
|
|
$13.2
|
|
|
|
$0.7
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$71.0
|
|
|
|
$44.5
|
|
|
8
|
|
|
For the Three Months
|
|
For the Nine Months
|
||||||||||||
|
Ended September 30,
|
|
Ended September 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
(in millions)
|
||||||||||||||
Operating revenues:
|
|
|
|
|
|
|
|
||||||||
Electric utility
|
|
$351.6
|
|
|
|
$381.1
|
|
|
|
$981.5
|
|
|
|
$999.9
|
|
Gas utility
|
18.4
|
|
|
15.6
|
|
|
115.5
|
|
|
106.1
|
|
||||
Other
|
0.2
|
|
|
0.3
|
|
|
1.1
|
|
|
0.9
|
|
||||
Total operating revenues
|
370.2
|
|
|
397.0
|
|
|
1,098.1
|
|
|
1,106.9
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Electric production fuel and purchased power
|
100.1
|
|
|
120.9
|
|
|
284.7
|
|
|
321.5
|
|
||||
Electric transmission service
|
42.8
|
|
|
42.7
|
|
|
128.3
|
|
|
126.1
|
|
||||
Cost of gas sold
|
5.1
|
|
|
4.5
|
|
|
60.9
|
|
|
56.0
|
|
||||
Other operation and maintenance
|
66.1
|
|
|
54.2
|
|
|
179.7
|
|
|
157.2
|
|
||||
Depreciation and amortization
|
53.6
|
|
|
48.7
|
|
|
158.8
|
|
|
143.5
|
|
||||
Taxes other than income taxes
|
11.8
|
|
|
11.0
|
|
|
35.3
|
|
|
33.8
|
|
||||
Total operating expenses
|
279.5
|
|
|
282.0
|
|
|
847.7
|
|
|
838.1
|
|
||||
Operating income
|
90.7
|
|
|
115.0
|
|
|
250.4
|
|
|
268.8
|
|
||||
Interest expense and other:
|
|
|
|
|
|
|
|
||||||||
Interest expense
|
23.1
|
|
|
22.9
|
|
|
69.1
|
|
|
68.7
|
|
||||
Equity income from unconsolidated investments
|
(0.2
|
)
|
|
(9.3
|
)
|
|
(0.4
|
)
|
|
(29.0
|
)
|
||||
Allowance for funds used during construction
|
(4.9
|
)
|
|
(2.0
|
)
|
|
(11.6
|
)
|
|
(8.1
|
)
|
||||
Interest income and other
|
(0.1
|
)
|
|
0.1
|
|
|
(0.2
|
)
|
|
(0.2
|
)
|
||||
Total interest expense and other
|
17.9
|
|
|
11.7
|
|
|
56.9
|
|
|
31.4
|
|
||||
Income before income taxes
|
72.8
|
|
|
103.3
|
|
|
193.5
|
|
|
237.4
|
|
||||
Income taxes
|
23.0
|
|
|
33.7
|
|
|
60.1
|
|
|
77.1
|
|
||||
Net income
|
49.8
|
|
|
69.6
|
|
|
133.4
|
|
|
160.3
|
|
||||
Net income attributable to noncontrolling interest
|
—
|
|
|
0.6
|
|
|
—
|
|
|
1.6
|
|
||||
Earnings available for common stock
|
|
$49.8
|
|
|
|
$69.0
|
|
|
|
$133.4
|
|
|
|
$158.7
|
|
|
9
|
|
|
September 30,
2017 |
|
December 31,
2016 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$3.2
|
|
|
|
$4.2
|
|
Accounts receivable, less allowance for doubtful accounts
|
185.8
|
|
|
226.3
|
|
||
Production fuel, at weighted average cost
|
24.2
|
|
|
27.8
|
|
||
Gas stored underground, at weighted average cost
|
19.0
|
|
|
21.3
|
|
||
Materials and supplies, at weighted average cost
|
43.6
|
|
|
36.3
|
|
||
Regulatory assets
|
45.3
|
|
|
40.1
|
|
||
Other
|
64.6
|
|
|
60.5
|
|
||
Total current assets
|
385.7
|
|
|
416.5
|
|
||
Property, plant and equipment, net
|
4,782.4
|
|
|
4,426.7
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
400.3
|
|
|
416.2
|
|
||
Deferred charges and other
|
25.7
|
|
|
30.9
|
|
||
Total other assets
|
426.0
|
|
|
447.1
|
|
||
Total assets
|
|
$5,594.1
|
|
|
|
$5,290.3
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Commercial paper
|
|
$224.6
|
|
|
|
$52.3
|
|
Accounts payable
|
197.2
|
|
|
192.9
|
|
||
Regulatory liabilities
|
59.2
|
|
|
36.6
|
|
||
Other
|
108.7
|
|
|
112.9
|
|
||
Total current liabilities
|
589.7
|
|
|
394.7
|
|
||
Long-term debt, net
|
1,536.2
|
|
|
1,535.2
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,035.2
|
|
|
971.6
|
|
||
Regulatory liabilities
|
184.5
|
|
|
213.6
|
|
||
Capital lease obligations - Sheboygan Falls Energy Facility
|
72.0
|
|
|
77.2
|
|
||
Pension and other benefit obligations
|
204.2
|
|
|
207.8
|
|
||
Other
|
162.6
|
|
|
159.4
|
|
||
Total other liabilities
|
1,658.5
|
|
|
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
|
1,059.0
|
|
|
1,019.0
|
|
||
Retained earnings
|
684.5
|
|
|
645.6
|
|
||
Total Wisconsin Power and Light Company common equity
|
1,809.7
|
|
|
1,730.8
|
|
||
Total liabilities and equity
|
|
$5,594.1
|
|
|
|
$5,290.3
|
|
|
10
|
|
|
For the Nine Months
|
||||||
|
Ended September 30,
|
||||||
|
2017
|
|
2016
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$133.4
|
|
|
|
$160.3
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
158.8
|
|
|
143.5
|
|
||
Deferred tax expense and tax credits
|
60.1
|
|
|
97.9
|
|
||
Other
|
4.8
|
|
|
(20.3
|
)
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
41.8
|
|
|
(12.8
|
)
|
||
Regulatory assets
|
(1.1
|
)
|
|
50.7
|
|
||
Other
|
(36.6
|
)
|
|
20.0
|
|
||
Net cash flows from operating activities
|
361.2
|
|
|
439.3
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Utility construction and acquisition expenditures
|
(454.0
|
)
|
|
(307.1
|
)
|
||
Other
|
(16.2
|
)
|
|
(19.6
|
)
|
||
Net cash flows used for investing activities
|
(470.2
|
)
|
|
(326.7
|
)
|
||
Cash flows from (used for) financing activities:
|
|
|
|
||||
Common stock dividends
|
(94.5
|
)
|
|
(101.2
|
)
|
||
Capital contribution from parent
|
40.0
|
|
|
—
|
|
||
Net change in commercial paper
|
172.3
|
|
|
(8.1
|
)
|
||
Other
|
(9.8
|
)
|
|
1.9
|
|
||
Net cash flows from (used for) financing activities
|
108.0
|
|
|
(107.4
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
(1.0
|
)
|
|
5.2
|
|
||
Cash and cash equivalents at beginning of period
|
4.2
|
|
|
0.4
|
|
||
Cash and cash equivalents at end of period
|
|
$3.2
|
|
|
|
$5.6
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash (paid) refunded during the period for:
|
|
|
|
||||
Interest
|
|
($68.1
|
)
|
|
|
($67.7
|
)
|
Income taxes, net
|
|
($20.2
|
)
|
|
|
$19.6
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$122.3
|
|
|
|
$50.8
|
|
|
11
|
|
|
12
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
September 30,
2017 |
|
December 31,
2016 |
|
September 30,
2017 |
|
December 31,
2016 |
|
September 30,
2017 |
|
December 31,
2016 |
||||||||||||
Tax-related
|
|
$1,147.9
|
|
|
|
$1,055.6
|
|
|
|
$1,107.9
|
|
|
|
$1,022.4
|
|
|
|
$40.0
|
|
|
|
$33.2
|
|
Pension and OPEB costs
|
547.8
|
|
|
578.7
|
|
|
279.3
|
|
|
294.0
|
|
|
268.5
|
|
|
284.7
|
|
||||||
Asset retirement obligations
|
107.9
|
|
|
105.9
|
|
|
71.9
|
|
|
64.3
|
|
|
36.0
|
|
|
41.6
|
|
||||||
EGUs retired early
|
67.4
|
|
|
41.4
|
|
|
32.9
|
|
|
—
|
|
|
34.5
|
|
|
41.4
|
|
||||||
Derivatives
|
49.9
|
|
|
30.7
|
|
|
22.3
|
|
|
10.0
|
|
|
27.6
|
|
|
20.7
|
|
||||||
Emission allowances
|
25.6
|
|
|
26.2
|
|
|
25.6
|
|
|
26.2
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
90.0
|
|
|
76.6
|
|
|
51.0
|
|
|
41.9
|
|
|
39.0
|
|
|
34.7
|
|
||||||
|
|
$2,036.5
|
|
|
|
$1,915.1
|
|
|
|
$1,590.9
|
|
|
|
$1,458.8
|
|
|
|
$445.6
|
|
|
|
$456.3
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
September 30,
2017 |
|
December 31,
2016 |
|
September 30,
2017 |
|
December 31,
2016 |
|
September 30,
2017 |
|
December 31,
2016 |
||||||||||||
Cost of removal obligations
|
|
$412.1
|
|
|
|
$411.6
|
|
|
|
$272.9
|
|
|
|
$269.4
|
|
|
|
$139.2
|
|
|
|
$142.2
|
|
Electric transmission cost recovery
|
94.8
|
|
|
72.0
|
|
|
35.9
|
|
|
35.7
|
|
|
58.9
|
|
|
36.3
|
|
||||||
IPL’s tax benefit riders
|
45.0
|
|
|
83.5
|
|
|
45.0
|
|
|
83.5
|
|
|
—
|
|
|
—
|
|
||||||
Commodity cost recovery
|
21.2
|
|
|
30.8
|
|
|
15.0
|
|
|
17.8
|
|
|
6.2
|
|
|
13.0
|
|
||||||
Energy efficiency cost recovery
|
20.0
|
|
|
20.5
|
|
|
—
|
|
|
—
|
|
|
20.0
|
|
|
20.5
|
|
||||||
Derivatives
|
10.9
|
|
|
31.5
|
|
|
5.8
|
|
|
12.1
|
|
|
5.1
|
|
|
19.4
|
|
||||||
Other
|
24.5
|
|
|
31.1
|
|
|
10.2
|
|
|
12.3
|
|
|
14.3
|
|
|
18.8
|
|
||||||
|
|
$628.5
|
|
|
|
$681.0
|
|
|
|
$384.8
|
|
|
|
$430.8
|
|
|
|
$243.7
|
|
|
|
$250.2
|
|
|
13
|
|
Electric tax benefit rider credits
|
|
($51
|
)
|
Gas tax benefit rider credits
|
(5
|
)
|
|
Rate-making accounting change
|
17
|
|
|
|
|
($39
|
)
|
|
14
|
|
|
15
|
|
Electric plant in service
|
|
$40
|
|
Current assets
|
2
|
|
|
Total assets acquired
|
42
|
|
|
Other liabilities
|
10
|
|
|
Net assets acquired
|
|
$32
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Maximum outstanding aggregate cash proceeds
|
|
$112.0
|
|
|
|
$172.0
|
|
|
|
$112.0
|
|
|
|
$172.0
|
|
Average outstanding aggregate cash proceeds
|
66.2
|
|
|
112.3
|
|
|
58.7
|
|
|
91.5
|
|
|
September 30, 2017
|
|
December 31, 2016
|
||||
Customer accounts receivable
|
|
$153.6
|
|
|
|
$157.6
|
|
Unbilled utility revenues
|
89.1
|
|
|
90.4
|
|
||
Other receivables
|
1.1
|
|
|
0.1
|
|
||
Receivables sold to third party
|
243.8
|
|
|
248.1
|
|
||
Less: cash proceeds (a)
|
112.0
|
|
|
21.0
|
|
||
Deferred proceeds
|
131.8
|
|
|
227.1
|
|
||
Less: allowance for doubtful accounts
|
16.5
|
|
|
16.0
|
|
||
Fair value of deferred proceeds
|
|
$115.3
|
|
|
|
$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.
|
|
16
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Collections reinvested in receivables
|
|
$347.9
|
|
|
|
$499.7
|
|
|
|
$1,283.2
|
|
|
|
$1,362.1
|
|
Write-off losses (recoveries), net
|
3.5
|
|
|
(0.3
|
)
|
|
10.4
|
|
|
(0.6
|
)
|
|
Alliant Energy
|
|
WPL
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||||||
ATC Investment
|
|
($10.1
|
)
|
|
|
($9.1
|
)
|
|
|
($32.7
|
)
|
|
|
($28.6
|
)
|
|
|
$—
|
|
|
|
($9.1
|
)
|
|
|
$—
|
|
|
|
($28.6
|
)
|
Other
|
—
|
|
|
(0.1
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
(0.4
|
)
|
|
(0.4
|
)
|
||||||||
|
|
($10.1
|
)
|
|
|
($9.2
|
)
|
|
|
($32.9
|
)
|
|
|
($28.8
|
)
|
|
|
($0.2
|
)
|
|
|
($9.3
|
)
|
|
|
($0.4
|
)
|
|
|
($29.0
|
)
|
Shares outstanding, January 1, 2017
|
227,673,654
|
|
At-the-market offering program
|
3,074,931
|
|
Shareowner Direct Plan issuances
|
496,437
|
|
Equity-based compensation plans (
Note 9(b)
)
|
5,185
|
|
Other
|
(45,847
|
)
|
Shares outstanding, September 30, 2017
|
231,204,360
|
|
|
17
|
|
September 30, 2017
|
Alliant Energy
|
|
IPL
|
|
WPL
|
Commercial paper outstanding
|
$390.3
|
|
$4.0
|
|
$224.6
|
Commercial paper weighted average interest rates
|
1.2%
|
|
1.4%
|
|
1.1%
|
Available credit facility capacity (a)
|
$569.7
|
|
$256.0
|
|
$175.4
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Three Months Ended September 30
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
Maximum amount outstanding (based on daily outstanding balances)
|
$424.4
|
|
$248.0
|
|
$20.0
|
|
$3.1
|
|
$271.2
|
|
$55.4
|
Average amount outstanding (based on daily outstanding balances)
|
$386.2
|
|
$220.1
|
|
$0.4
|
|
$0.1
|
|
$217.0
|
|
$36.4
|
Weighted average interest rates
|
1.3%
|
|
0.6%
|
|
1.4%
|
|
0.6%
|
|
1.1%
|
|
0.4%
|
Nine Months Ended September 30
|
|
|
|
|
|
|
|
|
|
|
|
Maximum amount outstanding (based on daily outstanding balances)
|
$424.4
|
|
$248.0
|
|
$20.0
|
|
$3.1
|
|
$271.2
|
|
$62.9
|
Average amount outstanding (based on daily outstanding balances)
|
$323.9
|
|
$210.7
|
|
$0.5
|
|
$—
|
|
$144.2
|
|
$33.2
|
Weighted average interest rates
|
1.1%
|
|
0.6%
|
|
1.2%
|
|
0.6%
|
|
1.0%
|
|
0.4%
|
(a)
|
Alliant Energy’s and IPL’s available credit facility capacities reflect outstanding commercial paper classified as both short- and long-term debt at
September 30, 2017
.
|
|
18
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Three Months Ended September 30
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||
Statutory federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
Effect of rate-making on property-related differences
|
(10.1
|
)
|
|
(11.9
|
)
|
|
(22.6
|
)
|
|
(16.5
|
)
|
|
(1.9
|
)
|
|
(0.7
|
)
|
IPL’s tax benefit riders
|
(8.3
|
)
|
|
(13.1
|
)
|
|
(20.9
|
)
|
|
(20.1
|
)
|
|
—
|
|
|
—
|
|
Production tax credits
|
(6.2
|
)
|
|
(9.0
|
)
|
|
(7.0
|
)
|
|
(6.0
|
)
|
|
(7.0
|
)
|
|
(5.7
|
)
|
Other items, net
|
2.8
|
|
|
4.4
|
|
|
2.3
|
|
|
5.4
|
|
|
5.5
|
|
|
4.0
|
|
Overall income tax rate
|
13.2
|
%
|
|
5.4
|
%
|
|
(13.2
|
%)
|
|
(2.2
|
%)
|
|
31.6
|
%
|
|
32.6
|
%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Nine Months Ended September 30
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||
Statutory federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
Effect of rate-making on property-related differences
|
(9.1
|
)
|
|
(8.2
|
)
|
|
(20.6
|
)
|
|
(14.8
|
)
|
|
(1.8
|
)
|
|
(0.8
|
)
|
IPL’s tax benefit riders
|
(8.1
|
)
|
|
(10.2
|
)
|
|
(20.1
|
)
|
|
(19.6
|
)
|
|
—
|
|
|
—
|
|
Production tax credits
|
(6.0
|
)
|
|
(7.2
|
)
|
|
(6.8
|
)
|
|
(6.1
|
)
|
|
(7.0
|
)
|
|
(6.1
|
)
|
Other items, net
|
3.1
|
|
|
3.5
|
|
|
2.7
|
|
|
4.2
|
|
|
4.9
|
|
|
4.4
|
|
Overall income tax rate
|
14.9
|
%
|
|
12.9
|
%
|
|
(9.8
|
%)
|
|
(1.3
|
%)
|
|
31.1
|
%
|
|
32.5
|
%
|
|
Range of Expiration Dates
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Federal net operating losses
|
2030-2037
|
|
|
$815
|
|
|
|
$500
|
|
|
|
$208
|
|
State net operating losses
|
2018-2037
|
|
701
|
|
|
14
|
|
|
2
|
|
|||
Federal tax credits
|
2022-2037
|
|
297
|
|
|
110
|
|
|
125
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
Alliant Energy
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||||||
Service cost
|
|
$3.1
|
|
|
|
$3.2
|
|
|
|
$9.3
|
|
|
|
$9.5
|
|
|
|
$1.2
|
|
|
|
$1.4
|
|
|
|
$3.7
|
|
|
|
$4.0
|
|
Interest cost
|
12.7
|
|
|
13.2
|
|
|
38.3
|
|
|
39.7
|
|
|
2.2
|
|
|
2.3
|
|
|
6.5
|
|
|
7.0
|
|
||||||||
Expected return on plan assets
|
(16.3
|
)
|
|
(16.3
|
)
|
|
(49.1
|
)
|
|
(49.1
|
)
|
|
(1.5
|
)
|
|
(1.6
|
)
|
|
(4.6
|
)
|
|
(4.6
|
)
|
||||||||
Amortization of prior service credit
|
(0.1
|
)
|
|
(0.1
|
)
|
|
(0.3
|
)
|
|
(0.2
|
)
|
|
(0.1
|
)
|
|
(1.0
|
)
|
|
(0.2
|
)
|
|
(3.1
|
)
|
||||||||
Amortization of actuarial loss
|
9.4
|
|
|
9.3
|
|
|
28.2
|
|
|
28.0
|
|
|
1.0
|
|
|
1.2
|
|
|
2.9
|
|
|
3.6
|
|
||||||||
Settlement losses (a)
|
0.9
|
|
|
—
|
|
|
0.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
|
|
$9.7
|
|
|
|
$9.3
|
|
|
|
$27.3
|
|
|
|
$27.9
|
|
|
|
$2.8
|
|
|
|
$2.3
|
|
|
|
$8.3
|
|
|
|
$6.9
|
|
|
19
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
IPL
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||||||
Service cost
|
|
$1.8
|
|
|
|
$1.8
|
|
|
|
$5.5
|
|
|
|
$5.6
|
|
|
|
$0.5
|
|
|
|
$0.5
|
|
|
|
$1.6
|
|
|
|
$1.7
|
|
Interest cost
|
5.9
|
|
|
6.1
|
|
|
17.6
|
|
|
18.4
|
|
|
0.8
|
|
|
1.0
|
|
|
2.6
|
|
|
2.9
|
|
||||||||
Expected return on plan assets
|
(7.7
|
)
|
|
(7.7
|
)
|
|
(23.1
|
)
|
|
(23.2
|
)
|
|
(1.0
|
)
|
|
(1.0
|
)
|
|
(3.2
|
)
|
|
(3.2
|
)
|
||||||||
Amortization of prior service credit
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
|
(0.1
|
)
|
|
—
|
|
|
(0.7
|
)
|
|
—
|
|
|
(2.0
|
)
|
||||||||
Amortization of actuarial loss
|
4.0
|
|
|
4.2
|
|
|
12.1
|
|
|
12.4
|
|
|
0.5
|
|
|
0.7
|
|
|
1.5
|
|
|
2.0
|
|
||||||||
|
|
$4.0
|
|
|
|
$4.4
|
|
|
|
$12.0
|
|
|
|
$13.1
|
|
|
|
$0.8
|
|
|
|
$0.5
|
|
|
|
$2.5
|
|
|
|
$1.4
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
WPL
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||||||
Service cost
|
|
$1.2
|
|
|
|
$1.3
|
|
|
|
$3.6
|
|
|
|
$3.7
|
|
|
|
$0.5
|
|
|
|
$0.5
|
|
|
|
$1.4
|
|
|
|
$1.5
|
|
Interest cost
|
5.5
|
|
|
5.5
|
|
|
16.4
|
|
|
16.7
|
|
|
0.9
|
|
|
0.9
|
|
|
2.6
|
|
|
2.8
|
|
||||||||
Expected return on plan assets
|
(7.2
|
)
|
|
(7.0
|
)
|
|
(21.4
|
)
|
|
(21.2
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
(0.6
|
)
|
|
(0.6
|
)
|
||||||||
Amortization of prior service cost (credit)
|
0.1
|
|
|
—
|
|
|
0.1
|
|
|
0.1
|
|
|
(0.1
|
)
|
|
(0.3
|
)
|
|
(0.2
|
)
|
|
(0.7
|
)
|
||||||||
Amortization of actuarial loss
|
4.6
|
|
|
4.4
|
|
|
13.9
|
|
|
13.2
|
|
|
0.4
|
|
|
0.5
|
|
|
1.2
|
|
|
1.4
|
|
||||||||
|
|
$4.2
|
|
|
|
$4.2
|
|
|
|
$12.6
|
|
|
|
$12.5
|
|
|
|
$1.5
|
|
|
|
$1.4
|
|
|
|
$4.4
|
|
|
|
$4.4
|
|
(a)
|
Settlement losses related to payments made to retired executives of Alliant Energy.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||||||||||||||
Compensation expense
|
|
$5.1
|
|
|
|
$4.4
|
|
|
|
$9.9
|
|
|
|
$16.8
|
|
|
|
$2.8
|
|
|
|
$2.4
|
|
|
|
$5.4
|
|
|
|
$8.9
|
|
|
|
$2.1
|
|
|
|
$1.9
|
|
|
|
$4.1
|
|
|
|
$7.3
|
|
Income tax benefits
|
2.1
|
|
|
1.7
|
|
|
4.0
|
|
|
6.8
|
|
|
1.1
|
|
|
1.0
|
|
|
2.2
|
|
|
3.7
|
|
|
0.9
|
|
|
0.7
|
|
|
1.7
|
|
|
2.9
|
|
|
Performance Shares
|
|
Performance Units
|
||
Nonvested awards, January 1
|
257,599
|
|
|
93,320
|
|
Granted
|
65,350
|
|
|
21,558
|
|
Vested
|
(99,438
|
)
|
|
(37,395
|
)
|
Forfeited
|
—
|
|
|
(4,243
|
)
|
Nonvested awards, September 30
|
223,511
|
|
|
73,240
|
|
|
Performance Shares
|
|
Performance Units
|
||||
Performance awards vested
|
99,438
|
|
|
37,395
|
|
||
Percentage of target number of performance awards
|
147.5
|
%
|
|
147.5
|
%
|
||
Aggregate payout value (in millions)
|
|
$5.6
|
|
|
|
$1.5
|
|
Payout - cash (in millions)
|
|
$5.1
|
|
|
|
$1.5
|
|
Payout - common stock shares issued
|
5,185
|
|
|
N/A
|
|
|
20
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||||||||||
|
2017 Grant
|
|
2016 Grant
|
|
2015 Grant
|
|
2017 Grant
|
|
2016 Grant
|
|
2015 Grant
|
||||||||||||
Nonvested awards at target
|
65,350
|
|
|
67,355
|
|
|
90,806
|
|
|
19,531
|
|
|
21,751
|
|
|
31,958
|
|
||||||
Alliant Energy common stock closing price on September 29, 2017
|
|
$41.57
|
|
|
|
$41.57
|
|
|
|
$41.57
|
|
|
|
$41.57
|
|
|
|
$41.57
|
|
|
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
|
%
|
|
138
|
%
|
|
113
|
%
|
|
100
|
%
|
|
138
|
%
|
|
113
|
%
|
||||||
Fair values of each nonvested award
|
|
$41.57
|
|
|
|
$57.37
|
|
|
|
$46.97
|
|
|
|
$41.57
|
|
|
|
$57.37
|
|
|
|
$36.78
|
|
Nonvested units, January 1
|
57,736
|
|
Granted
|
56,013
|
|
Nonvested units, September 30
|
113,749
|
|
Alliant Energy
|
September 30, 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
|
|
$29.4
|
|
|
|
$—
|
|
|
|
$2.9
|
|
|
|
$26.5
|
|
|
|
$29.4
|
|
|
|
$41.4
|
|
|
|
$—
|
|
|
|
$4.6
|
|
|
|
$36.8
|
|
|
|
$41.4
|
|
Deferred proceeds
|
115.3
|
|
|
—
|
|
|
—
|
|
|
115.3
|
|
|
115.3
|
|
|
211.1
|
|
|
—
|
|
|
—
|
|
|
211.1
|
|
|
211.1
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
45.1
|
|
|
—
|
|
|
14.9
|
|
|
30.2
|
|
|
45.1
|
|
|
28.6
|
|
|
—
|
|
|
0.5
|
|
|
28.1
|
|
|
28.6
|
|
||||||||||
Long-term debt (incl. current maturities)
|
4,360.3
|
|
|
—
|
|
|
4,893.3
|
|
|
2.9
|
|
|
4,896.2
|
|
|
4,320.2
|
|
|
—
|
|
|
4,795.7
|
|
|
3.3
|
|
|
4,799.0
|
|
||||||||||
Cumulative preferred stock of IPL
|
200.0
|
|
|
202.3
|
|
|
—
|
|
|
—
|
|
|
202.3
|
|
|
200.0
|
|
|
194.8
|
|
|
—
|
|
|
—
|
|
|
194.8
|
|
|
21
|
|
IPL
|
September 30, 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
|
|
$21.1
|
|
|
|
$—
|
|
|
|
$1.6
|
|
|
|
$19.5
|
|
|
|
$21.1
|
|
|
|
$20.8
|
|
|
|
$—
|
|
|
|
$2.8
|
|
|
|
$18.0
|
|
|
|
$20.8
|
|
Deferred proceeds
|
115.3
|
|
|
—
|
|
|
—
|
|
|
115.3
|
|
|
115.3
|
|
|
211.1
|
|
|
—
|
|
|
—
|
|
|
211.1
|
|
|
211.1
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
18.7
|
|
|
—
|
|
|
4.5
|
|
|
14.2
|
|
|
18.7
|
|
|
8.3
|
|
|
—
|
|
|
0.4
|
|
|
7.9
|
|
|
8.3
|
|
||||||||||
Long-term debt (incl. current maturities)
|
2,195.0
|
|
|
—
|
|
|
2,430.1
|
|
|
—
|
|
|
2,430.1
|
|
|
2,153.5
|
|
|
—
|
|
|
2,352.3
|
|
|
—
|
|
|
2,352.3
|
|
||||||||||
Cumulative preferred stock
|
200.0
|
|
|
202.3
|
|
|
—
|
|
|
—
|
|
|
202.3
|
|
|
200.0
|
|
|
194.8
|
|
|
—
|
|
|
—
|
|
|
194.8
|
|
WPL
|
September 30, 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
|
|
$8.3
|
|
|
|
$—
|
|
|
|
$1.3
|
|
|
|
$7.0
|
|
|
|
$8.3
|
|
|
|
$20.6
|
|
|
|
$—
|
|
|
|
$1.8
|
|
|
|
$18.8
|
|
|
|
$20.6
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
26.4
|
|
|
—
|
|
|
10.4
|
|
|
16.0
|
|
|
26.4
|
|
|
20.3
|
|
|
—
|
|
|
0.1
|
|
|
20.2
|
|
|
20.3
|
|
||||||||||
Long-term debt
|
1,536.2
|
|
|
—
|
|
|
1,829.3
|
|
|
—
|
|
|
1,829.3
|
|
|
1,535.2
|
|
|
—
|
|
|
1,807.4
|
|
|
—
|
|
|
1,807.4
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended September 30
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Beginning balance, July 1
|
|
$9.2
|
|
|
|
$0.6
|
|
|
|
$170.0
|
|
|
|
$74.4
|
|
Total net losses included in changes in net assets (realized/unrealized)
|
(4.3
|
)
|
|
(5.1
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
—
|
|
|
0.8
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.1
|
)
|
|
(0.2
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(8.5
|
)
|
|
(4.0
|
)
|
|
(54.7
|
)
|
|
165.3
|
|
||||
Ending balance, September 30
|
|
($3.7
|
)
|
|
|
($7.9
|
)
|
|
|
$115.3
|
|
|
|
$239.7
|
|
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30
|
|
($4.2
|
)
|
|
|
($5.0
|
)
|
|
|
$—
|
|
|
|
$—
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Nine Months Ended September 30
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Beginning balance, January 1
|
|
$8.7
|
|
|
|
($32.7
|
)
|
|
|
$211.1
|
|
|
|
$172.0
|
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
(31.3
|
)
|
|
8.0
|
|
|
—
|
|
|
—
|
|
||||
Transfers into Level 3
|
—
|
|
|
0.9
|
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
12.2
|
|
|
1.2
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
28.3
|
|
|
22.0
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.3
|
)
|
|
(0.9
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(21.3
|
)
|
|
(6.4
|
)
|
|
(95.8
|
)
|
|
67.7
|
|
||||
Ending balance, September 30
|
|
($3.7
|
)
|
|
|
($7.9
|
)
|
|
|
$115.3
|
|
|
|
$239.7
|
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
|
|
($29.4
|
)
|
|
|
$9.7
|
|
|
|
$—
|
|
|
|
$—
|
|
|
22
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended September 30
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Beginning balance, July 1
|
|
$17.1
|
|
|
|
$18.3
|
|
|
|
$170.0
|
|
|
|
$74.4
|
|
Total net losses included in changes in net assets (realized/unrealized)
|
(4.4
|
)
|
|
(0.4
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
—
|
|
|
0.3
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.1
|
)
|
|
(0.2
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(7.3
|
)
|
|
(4.6
|
)
|
|
(54.7
|
)
|
|
165.3
|
|
||||
Ending balance, September 30
|
|
$5.3
|
|
|
|
$13.4
|
|
|
|
$115.3
|
|
|
|
$239.7
|
|
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30
|
|
($4.5
|
)
|
|
|
($0.4
|
)
|
|
|
$—
|
|
|
|
$—
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Nine Months Ended September 30
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Beginning balance, January 1
|
|
$10.1
|
|
|
|
($1.9
|
)
|
|
|
$211.1
|
|
|
|
$172.0
|
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
(13.9
|
)
|
|
4.8
|
|
|
—
|
|
|
—
|
|
||||
Transfers into Level 3
|
—
|
|
|
0.5
|
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
3.1
|
|
|
0.2
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
24.6
|
|
|
20.6
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.2
|
)
|
|
(0.9
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(18.4
|
)
|
|
(9.9
|
)
|
|
(95.8
|
)
|
|
67.7
|
|
||||
Ending balance, September 30
|
|
$5.3
|
|
|
|
$13.4
|
|
|
|
$115.3
|
|
|
|
$239.7
|
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
|
|
($12.6
|
)
|
|
|
$5.7
|
|
|
|
$—
|
|
|
|
$—
|
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
Three Months Ended September 30
|
2017
|
|
2016
|
||||
Beginning balance, July 1
|
|
($7.9
|
)
|
|
|
($17.7
|
)
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
0.1
|
|
|
(4.7
|
)
|
||
Transfers out of Level 3
|
—
|
|
|
0.5
|
|
||
Settlements
|
(1.2
|
)
|
|
0.6
|
|
||
Ending balance, September 30
|
|
($9.0
|
)
|
|
|
($21.3
|
)
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
|
|
$0.3
|
|
|
|
($4.6
|
)
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
Nine Months Ended September 30
|
2017
|
|
2016
|
||||
Beginning balance, January 1
|
|
($1.4
|
)
|
|
|
($30.8
|
)
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
(17.4
|
)
|
|
3.2
|
|
||
Transfers into Level 3
|
—
|
|
|
0.4
|
|
||
Transfers out of Level 3
|
9.1
|
|
|
1.0
|
|
||
Purchases
|
3.7
|
|
|
1.4
|
|
||
Sales
|
(0.1
|
)
|
|
—
|
|
||
Settlements
|
(2.9
|
)
|
|
3.5
|
|
||
Ending balance, September 30
|
|
($9.0
|
)
|
|
|
($21.3
|
)
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
|
|
($16.8
|
)
|
|
|
$4.0
|
|
(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.
|
|
23
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
||||||||||||
September 30, 2017
|
|
($22.2
|
)
|
|
|
$18.5
|
|
|
|
($10.4
|
)
|
|
|
$15.7
|
|
|
|
($11.8
|
)
|
|
|
$2.8
|
|
December 31, 2016
|
(2.3
|
)
|
|
11.0
|
|
|
0.1
|
|
|
10.0
|
|
|
(2.4
|
)
|
|
1.0
|
|
|
Electricity
|
|
FTRs
|
|
Natural Gas
|
|
Coal
|
|
Diesel Fuel
|
|||||||||||||||
|
MWhs
|
|
Years
|
|
MWhs
|
|
Years
|
|
Dths
|
|
Years
|
|
Tons
|
|
Years
|
|
Gallons
|
|
Years
|
|||||
Alliant Energy
|
1,645
|
|
|
2017-2018
|
|
14,745
|
|
|
2017-2018
|
|
173,234
|
|
|
2017-2026
|
|
4,963
|
|
|
2017-2019
|
|
7,308
|
|
|
2017-2019
|
IPL
|
—
|
|
|
—
|
|
9,219
|
|
|
2017-2018
|
|
79,561
|
|
|
2017-2026
|
|
1,820
|
|
|
2017-2019
|
|
—
|
|
|
—
|
WPL
|
1,645
|
|
|
2017-2018
|
|
5,526
|
|
|
2017-2018
|
|
93,673
|
|
|
2017-2026
|
|
3,143
|
|
|
2017-2018
|
|
7,308
|
|
|
2017-2019
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
September 30,
2017 |
|
December 31,
2016 |
|
September 30,
2017 |
|
December 31,
2016 |
|
September 30,
2017 |
|
December 31,
2016 |
||||||||||||
Current derivative assets
|
|
$26.7
|
|
|
|
$29.4
|
|
|
|
$20.3
|
|
|
|
$19.1
|
|
|
|
$6.4
|
|
|
|
$10.3
|
|
Non-current derivative assets
|
2.7
|
|
|
12.0
|
|
|
0.8
|
|
|
1.7
|
|
|
1.9
|
|
|
10.3
|
|
||||||
Current derivative liabilities
|
18.5
|
|
|
13.3
|
|
|
4.6
|
|
|
2.7
|
|
|
13.9
|
|
|
10.6
|
|
||||||
Non-current derivative liabilities
|
26.6
|
|
|
15.3
|
|
|
14.1
|
|
|
5.6
|
|
|
12.5
|
|
|
9.7
|
|
|
24
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Purchased power (a)
|
|
$1,278
|
|
|
|
$1,194
|
|
|
|
$84
|
|
Natural gas
|
847
|
|
|
422
|
|
|
425
|
|
|||
Coal (b)
|
144
|
|
|
66
|
|
|
78
|
|
|||
Other (c)
|
34
|
|
|
25
|
|
|
1
|
|
|||
|
|
$2,303
|
|
|
|
$1,707
|
|
|
|
$588
|
|
(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
September 30, 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
September 30, 2017
.
|
|
25
|
|
|
Alliant Energy
|
|
IPL
|
||||||||
Range of estimated future costs
|
|
$12
|
|
-
|
$31
|
|
|
$10
|
|
-
|
$27
|
Current and non-current environmental liabilities
|
16
|
|
14
|
|
26
|
|
|
Utility (a)
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
Three Months Ended September 30, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$840.6
|
|
|
|
$45.8
|
|
|
|
$11.2
|
|
|
|
$897.6
|
|
|
|
$9.3
|
|
|
|
$906.9
|
|
Operating income (loss)
|
232.6
|
|
|
(2.4
|
)
|
|
(7.7
|
)
|
|
222.5
|
|
|
9.0
|
|
|
231.5
|
|
||||||
Net income (loss) attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
176.3
|
|
|
(7.5
|
)
|
|
168.8
|
|
|||||||||
Three Months Ended September 30, 2016
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$864.3
|
|
|
|
$39.5
|
|
|
|
$9.4
|
|
|
|
$913.2
|
|
|
|
$11.4
|
|
|
|
$924.6
|
|
Operating income (loss)
|
244.2
|
|
|
(3.7
|
)
|
|
0.4
|
|
|
240.9
|
|
|
(78.3
|
)
|
|
162.6
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income (loss) from continuing operations, net of tax
|
|
|
|
|
|
|
183.1
|
|
|
(54.3
|
)
|
|
128.8
|
|
|||||||||
Loss from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
(0.4
|
)
|
|
(0.4
|
)
|
|||||||||
Net income (loss)
|
|
|
|
|
|
|
183.1
|
|
|
(54.7
|
)
|
|
128.4
|
|
|
Utility (a)
|
|
Non-Regulated,
|
|
Alliant Energy
|
||||||||||||||||||
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
Nine Months Ended September 30, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$2,199.1
|
|
|
|
$262.7
|
|
|
|
$34.4
|
|
|
|
$2,496.2
|
|
|
|
$29.9
|
|
|
|
$2,526.1
|
|
Operating income (loss)
|
475.4
|
|
|
29.5
|
|
|
(6.8
|
)
|
|
498.1
|
|
|
25.6
|
|
|
523.7
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income from continuing operations, net of tax
|
|
|
|
|
|
|
353.5
|
|
|
8.6
|
|
|
362.1
|
|
|||||||||
Income from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
1.4
|
|
|
1.4
|
|
|||||||||
Net income
|
|
|
|
|
|
|
353.5
|
|
|
10.0
|
|
|
363.5
|
|
|||||||||
Nine Months Ended September 30, 2016
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating revenues
|
|
$2,209.1
|
|
|
|
$248.7
|
|
|
|
$35.0
|
|
|
|
$2,492.8
|
|
|
|
$30.2
|
|
|
|
$2,523.0
|
|
Operating income (loss)
|
473.3
|
|
|
27.0
|
|
|
4.4
|
|
|
504.7
|
|
|
(67.6
|
)
|
|
437.1
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income (loss) from continuing operations, net of tax
|
|
|
|
|
|
|
350.3
|
|
|
(39.5
|
)
|
|
310.8
|
|
|||||||||
Loss from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
(2.0
|
)
|
|
(2.0
|
)
|
|||||||||
Net income (loss)
|
|
|
|
|
|
|
350.3
|
|
|
(41.5
|
)
|
|
308.8
|
|
|
27
|
|
(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 September 30, 2017
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$489.0
|
|
|
|
$27.4
|
|
|
|
$11.0
|
|
|
|
$527.4
|
|
Operating income (loss)
|
138.3
|
|
|
(2.1
|
)
|
|
(4.4
|
)
|
|
131.8
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
120.4
|
|
|||||||
Three Months Ended September 30, 2016
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$483.2
|
|
|
|
$23.9
|
|
|
|
$9.1
|
|
|
|
$516.2
|
|
Operating income (loss)
|
125.9
|
|
|
(1.4
|
)
|
|
1.4
|
|
|
125.9
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
114.1
|
|
|||||||
Nine Months Ended September 30, 2017
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$1,217.6
|
|
|
|
$147.2
|
|
|
|
$33.3
|
|
|
|
$1,398.1
|
|
Operating income (loss)
|
234.5
|
|
|
14.7
|
|
|
(1.5
|
)
|
|
247.7
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
200.4
|
|
|||||||
Nine Months Ended September 30, 2016
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$1,209.2
|
|
|
|
$142.6
|
|
|
|
$34.1
|
|
|
|
$1,385.9
|
|
Operating income
|
213.8
|
|
|
15.3
|
|
|
6.8
|
|
|
235.9
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
191.6
|
|
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Three Months Ended September 30, 2017
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$351.6
|
|
|
|
$18.4
|
|
|
|
$0.2
|
|
|
|
$370.2
|
|
Operating income (loss)
|
94.3
|
|
|
(0.3
|
)
|
|
(3.3
|
)
|
|
90.7
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
49.8
|
|
|||||||
Three Months Ended September 30, 2016
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$381.1
|
|
|
|
$15.6
|
|
|
|
$0.3
|
|
|
|
$397.0
|
|
Operating income (loss)
|
118.3
|
|
|
(2.3
|
)
|
|
(1.0
|
)
|
|
115.0
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
69.0
|
|
|||||||
Nine Months Ended September 30, 2017
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$981.5
|
|
|
|
$115.5
|
|
|
|
$1.1
|
|
|
|
$1,098.1
|
|
Operating income (loss)
|
240.9
|
|
|
14.8
|
|
|
(5.3
|
)
|
|
250.4
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
133.4
|
|
|||||||
Nine Months Ended September 30, 2016
|
|
|
|
|
|
|
|
||||||||
Operating revenues
|
|
$999.9
|
|
|
|
$106.1
|
|
|
|
$0.9
|
|
|
|
$1,106.9
|
|
Operating income (loss)
|
259.5
|
|
|
11.7
|
|
|
(2.4
|
)
|
|
268.8
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
158.7
|
|
|
28
|
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||||||
Corporate Services billings
|
|
$48
|
|
|
|
$41
|
|
|
|
$130
|
|
|
|
$124
|
|
|
|
$37
|
|
|
|
$33
|
|
|
|
$100
|
|
|
|
$103
|
|
Sales credited
|
8
|
|
|
4
|
|
|
15
|
|
|
7
|
|
|
6
|
|
|
3
|
|
|
8
|
|
|
6
|
|
||||||||
Purchases billed
|
109
|
|
|
126
|
|
|
271
|
|
|
324
|
|
|
32
|
|
|
23
|
|
|
99
|
|
|
65
|
|
|
IPL
|
|
WPL
|
||||
|
September 30, 2017
|
|
December 31, 2016
|
|
September 30, 2017
|
|
December 31, 2016
|
Net payables to Corporate Services
|
$118
|
|
$104
|
|
$64
|
|
$72
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
ATC LLC billings to WPL
|
|
$26
|
|
|
|
$28
|
|
|
|
$79
|
|
|
|
$82
|
|
WPL billings to ATC LLC
|
2
|
|
|
4
|
|
|
8
|
|
|
10
|
|
|
29
|
|
|
2017
|
|
2016
|
||||||||||||
|
Income (Loss)
|
|
EPS
|
|
Income (Loss)
|
|
EPS
|
||||||||
Continuing operations:
|
|
|
|
|
|
|
|
||||||||
Utilities, ATC Investment and Corporate Services
|
|
$179.7
|
|
|
|
$0.78
|
|
|
|
$186.7
|
|
|
|
$0.82
|
|
Non-regulated and Parent
|
(10.9
|
)
|
|
(0.05
|
)
|
|
(57.9
|
)
|
|
(0.25
|
)
|
||||
Income from continuing operations
|
168.8
|
|
|
0.73
|
|
|
128.8
|
|
|
0.57
|
|
||||
Loss from discontinued operations
|
—
|
|
|
—
|
|
|
(0.4
|
)
|
|
—
|
|
||||
Net income
|
|
$168.8
|
|
|
|
$0.73
|
|
|
|
$128.4
|
|
|
|
$0.57
|
|
•
|
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.
|
•
|
IPL’s and WPL’s Potential Expansion of Wind Generation -
In addition to IPL’s 500 MW expansion of wind generation approved by the IUB in October 2016 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 500 MW and 200 MW, respectively, of additional new wind generation. In August 2017, IPL filed an application with the IUB for advance rate-making principles for the up to 500 MW of the additional wind generation. In the fourth quarter of 2017, WPL expects to file for approval from the PSCW and FERC for the acquisition of 55 MW of the Forward Wind Energy Center, and plans to file for authority for the remaining up to 200 MW of new wind generation. Refer to “
Strategic Overview
” for further discussion. The amount and timing of these wind projects will largely depend on regulatory approvals and the acquisition of wind sites.
|
•
|
WPL’s Construction of West Riverside -
In October 2017, WPL received an order from the PSCW authorizing various electric cooperatives, which currently have wholesale power supply agreements with WPL, to acquire approximately 65 MW of West Riverside while the EGU is being constructed. As part of the electric cooperatives’ acquisitions, which are currently expected to be completed in the fourth quarter of 2017, the current wholesale power supply agreements with the various electric cooperatives will be extended by at least four years until 2026 with automatic continuation of such agreements unless terminated by either party, with a five-year notice requirement.
|
•
|
Non-regulated Wind Investment in Oklahoma -
In July 2017, a wholly-owned subsidiary of AEF acquired a 50% cash equity ownership interest in a 225 MW non-regulated wind farm located in Oklahoma. Refer to
Note 5(a)
for further discussion.
|
•
|
IPL’s Retail Electric Rate Review (2016 Test Year) -
In April 2017, IPL filed a request with the IUB to increase annual electric base rates for its Iowa retail electric customers. 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
|
|
30
|
|
•
|
WPL’s Retail Fuel-related Rate Filing (2018 Test Year) -
In July 2017, WPL filed a request with the PSCW to increase annual rates for WPL’s retail electric customers by $6 million, or approximately 1%, in 2018. The increase primarily reflects a change in expected fuel-related costs in 2018, which are expected to be offset by $3 million of over-collections from WPL’s 2016 fuel-related costs. Any rate changes granted from this request are expected to be effective January 1, 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). During the nine months ended September 30, 2017, Alliant Energy, IPL and WPL received the refunds for the first complaint period of $50 million, $39 million and $11 million, respectively, after final true-ups. Pursuant to IUB approval, IPL’s retail portion of the refund from ITC is currently being refunded to its retail customers in 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.
|
•
|
Credit Facility Agreement -
In August 2017, Alliant Energy, IPL and WPL entered into a single new credit facility agreement, which expires in August 2022. The new credit facility agreement includes financial covenants similar to those that were included in the previous credit facility agreements. As of September 30, 2017, the short-term borrowing capacity totaled $1 billion ($300 million for Alliant Energy at the parent company level, $300 million for IPL and $400 million for WPL).
|
•
|
At-the-Market Offering Program -
In the second quarter of 2017, Alliant Energy issued
3.1 million
shares of common stock through an at-the-market offering program and received cash proceeds of
$124 million
, net of
$1 million
in commissions and fees. The proceeds from the issuances of common stock were used for general corporate purposes.
|
•
|
Financing Plans -
Alliant Energy currently expects to issue up to $200 million of common stock in 2018 through one or more offerings and its Shareowner Direct Plan. IPL currently expects to issue up to $700 million of long-term debt securities in 2018, of which $350 million would be used to retire maturing long-term debt in 2018. AEF currently expects to issue up to $1.0 billion of long-term debt in 2018, of which $595 million would be used to refinance term loans.
|
•
|
Common Stock Dividends -
Alliant Energy announced a 6% increase in its targeted 2018 annual common stock dividend to $1.34 per share, which is equivalent to a quarterly rate of $0.335 per share, beginning with the February 2018 dividend payment. The timing and amount of future dividends is subject to an approved dividend declaration from Alliant Energy’s Board of Directors, and is dependent upon earnings expectations, capital requirements, and general financial business conditions, among other factors.
|
•
|
Utility Electric and Gas Margins -
Alliant Energy and IPL currently expect an increase in electric and gas margins in 2018 compared to 2017 as a result of base rate increases in effect from IPL’s retail electric rate review (2016 Test Year) and IPL’s planned retail gas rate review (2017 Test Year). Refer to “
Rate Matters
” for further discussion of these rate reviews, as well as “
Other Future Considerations
” for discussion of expected changes in Alliant Energy’s, IPL’s and WPL’s electric transmission service expense in 2018 compared to 2017.
|
•
|
Depreciation and Amortization Expenses -
Alliant Energy and IPL currently expect an increase in depreciation and amortization expenses in 2018 compared to 2017 due to property additions, and the implementation of updated depreciation rates for IPL as a result of a recently completed depreciation study, which is expected to be effective with the implementation of final rates from IPL’s retail electric rate review (2016 Test Year).
|
•
|
Interest Expense -
Alliant Energy currently expects interest expense to increase in 2018 compared to 2017 due to financings completed in 2017 and planned in 2018 as discussed above.
|
•
|
AFUDC -
Alliant Energy currently expects AFUDC to increase in 2018 compared to 2017 primarily due to increased construction work in progress balances related to IPL’s expansion of wind generation and WPL’s West Riverside facility.
|
|
31
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||||||||||||||
Operating income
|
|
$231.5
|
|
|
|
$162.6
|
|
|
|
$523.7
|
|
|
|
$437.1
|
|
|
|
$131.8
|
|
|
|
$125.9
|
|
|
|
$247.7
|
|
|
|
$235.9
|
|
|
|
$90.7
|
|
|
|
$115.0
|
|
|
|
$250.4
|
|
|
|
$268.8
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Three Months
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||
Electric utility operating revenues
|
|
$840.6
|
|
|
|
$864.3
|
|
|
|
$489.0
|
|
|
|
$483.2
|
|
|
|
$351.6
|
|
|
|
$381.1
|
|
Electric production fuel and purchased power expenses
|
(222.6
|
)
|
|
(245.9
|
)
|
|
(122.5
|
)
|
|
(125.0
|
)
|
|
(100.1
|
)
|
|
(120.9
|
)
|
||||||
Electric transmission service expense
|
(121.0
|
)
|
|
(138.6
|
)
|
|
(78.2
|
)
|
|
(95.9
|
)
|
|
(42.8
|
)
|
|
(42.7
|
)
|
||||||
Utility Electric Margin (non-GAAP)
|
497.0
|
|
|
479.8
|
|
|
288.3
|
|
|
262.3
|
|
|
208.7
|
|
|
217.5
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Gas utility operating revenues
|
45.8
|
|
|
39.5
|
|
|
27.4
|
|
|
23.9
|
|
|
18.4
|
|
|
15.6
|
|
||||||
Cost of gas sold
|
(15.0
|
)
|
|
(12.5
|
)
|
|
(9.9
|
)
|
|
(8.0
|
)
|
|
(5.1
|
)
|
|
(4.5
|
)
|
||||||
Utility Gas Margin (non-GAAP)
|
30.8
|
|
|
27.0
|
|
|
17.5
|
|
|
15.9
|
|
|
13.3
|
|
|
11.1
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Other utility operating revenues
|
11.2
|
|
|
9.4
|
|
|
11.0
|
|
|
9.1
|
|
|
0.2
|
|
|
0.3
|
|
||||||
Non-regulated operating revenues
|
9.3
|
|
|
11.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Asset valuation charges for Franklin County wind farm
|
—
|
|
|
(86.4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Other operation and maintenance expenses
|
(169.1
|
)
|
|
(148.6
|
)
|
|
(104.4
|
)
|
|
(94.8
|
)
|
|
(66.1
|
)
|
|
(54.2
|
)
|
||||||
Depreciation and amortization expenses
|
(120.7
|
)
|
|
(104.1
|
)
|
|
(66.2
|
)
|
|
(52.7
|
)
|
|
(53.6
|
)
|
|
(48.7
|
)
|
||||||
Taxes other than income tax expense
|
(27.0
|
)
|
|
(25.9
|
)
|
|
(14.4
|
)
|
|
(13.9
|
)
|
|
(11.8
|
)
|
|
(11.0
|
)
|
||||||
Operating income
|
|
$231.5
|
|
|
|
$162.6
|
|
|
|
$131.8
|
|
|
|
$125.9
|
|
|
|
$90.7
|
|
|
|
$115.0
|
|
|
32
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Nine Months
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||
Electric utility operating revenues
|
|
$2,199.1
|
|
|
|
$2,209.1
|
|
|
|
$1,217.6
|
|
|
|
$1,209.2
|
|
|
|
$981.5
|
|
|
|
$999.9
|
|
Electric production fuel and purchased power expenses
|
(614.7
|
)
|
|
(646.3
|
)
|
|
(330.0
|
)
|
|
(324.8
|
)
|
|
(284.7
|
)
|
|
(321.5
|
)
|
||||||
Electric transmission service expense
|
(363.3
|
)
|
|
(396.8
|
)
|
|
(235.0
|
)
|
|
(270.7
|
)
|
|
(128.3
|
)
|
|
(126.1
|
)
|
||||||
Utility Electric Margin (non-GAAP)
|
1,221.1
|
|
|
1,166.0
|
|
|
652.6
|
|
|
613.7
|
|
|
568.5
|
|
|
552.3
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Gas utility operating revenues
|
262.7
|
|
|
248.7
|
|
|
147.2
|
|
|
142.6
|
|
|
115.5
|
|
|
106.1
|
|
||||||
Cost of gas sold
|
(135.5
|
)
|
|
(132.3
|
)
|
|
(74.6
|
)
|
|
(76.3
|
)
|
|
(60.9
|
)
|
|
(56.0
|
)
|
||||||
Utility Gas Margin (non-GAAP)
|
127.2
|
|
|
116.4
|
|
|
72.6
|
|
|
66.3
|
|
|
54.6
|
|
|
50.1
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Other utility operating revenues
|
34.4
|
|
|
35.0
|
|
|
33.3
|
|
|
34.1
|
|
|
1.1
|
|
|
0.9
|
|
||||||
Non-regulated operating revenues
|
29.9
|
|
|
30.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Asset valuation charges for Franklin County wind farm
|
—
|
|
|
(86.4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Other operation and maintenance expenses
|
(467.1
|
)
|
|
(438.2
|
)
|
|
(288.7
|
)
|
|
(279.8
|
)
|
|
(179.7
|
)
|
|
(157.2
|
)
|
||||||
Depreciation and amortization expenses
|
(342.7
|
)
|
|
(308.7
|
)
|
|
(181.0
|
)
|
|
(157.8
|
)
|
|
(158.8
|
)
|
|
(143.5
|
)
|
||||||
Taxes other than income tax expense
|
(79.1
|
)
|
|
(77.2
|
)
|
|
(41.1
|
)
|
|
(40.6
|
)
|
|
(35.3
|
)
|
|
(33.8
|
)
|
||||||
Operating income
|
|
$523.7
|
|
|
|
$437.1
|
|
|
|
$247.7
|
|
|
|
$235.9
|
|
|
|
$250.4
|
|
|
|
$268.8
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Asset valuation charges for Franklin County wind farm in 2016 (refer to
Note 3
for details)
|
|
$86
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$86
|
|
|
|
$—
|
|
|
|
$—
|
|
Total utility electric margin variance (refer to details below)
|
17
|
|
|
26
|
|
|
(9
|
)
|
|
55
|
|
|
39
|
|
|
16
|
|
||||||
Total utility gas margin variance (refer to details below)
|
4
|
|
|
2
|
|
|
2
|
|
|
11
|
|
|
6
|
|
|
5
|
|
||||||
Total other operation and maintenance expenses variance (refer to details below)
|
(21
|
)
|
|
(10
|
)
|
|
(12
|
)
|
|
(29
|
)
|
|
(9
|
)
|
|
(23
|
)
|
||||||
Higher depreciation expense primarily due to additional plant in service in 2017, including impacts from Marshalltown
|
(9
|
)
|
|
(9
|
)
|
|
(2
|
)
|
|
(20
|
)
|
|
(18
|
)
|
|
(6
|
)
|
||||||
Higher depreciation expense at WPL due to updated depreciation rates effective January 2017 approved by the PSCW and FERC
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
|
(9
|
)
|
|
—
|
|
|
(9
|
)
|
||||||
Higher depreciation expense at IPL due to write-down of regulatory assets resulting from the proposed IPL electric rate review settlement in 2017
|
(5
|
)
|
|
(5
|
)
|
|
—
|
|
|
(5
|
)
|
|
(5
|
)
|
|
—
|
|
||||||
Other
|
—
|
|
|
2
|
|
|
—
|
|
|
(2
|
)
|
|
(1
|
)
|
|
(1
|
)
|
||||||
|
|
$69
|
|
|
|
$6
|
|
|
|
($24
|
)
|
|
|
$87
|
|
|
|
$12
|
|
|
|
($18
|
)
|
Alliant Energy
|
Electric
|
|
Gas
|
||||||||||||||||||||||||
|
Revenues
|
|
MWhs Sold
|
|
Revenues
|
|
Dths Sold
|
||||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||
Three Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$745.7
|
|
|
|
$772.5
|
|
|
6,722
|
|
|
6,935
|
|
|
|
$37.4
|
|
|
|
$30.9
|
|
|
3,744
|
|
|
3,926
|
|
Sales for resale
|
75.6
|
|
|
77.5
|
|
|
1,390
|
|
|
1,271
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
19.3
|
|
|
14.3
|
|
|
22
|
|
|
24
|
|
|
8.4
|
|
|
8.6
|
|
|
19,787
|
|
|
20,302
|
|
||||
|
|
$840.6
|
|
|
|
$864.3
|
|
|
8,134
|
|
|
8,230
|
|
|
|
$45.8
|
|
|
|
$39.5
|
|
|
23,531
|
|
|
24,228
|
|
Nine Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$1,950.4
|
|
|
|
$1,970.4
|
|
|
18,851
|
|
|
19,139
|
|
|
|
$236.9
|
|
|
|
$222.9
|
|
|
30,971
|
|
|
32,720
|
|
Sales for resale
|
204.8
|
|
|
204.9
|
|
|
3,564
|
|
|
3,372
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
43.9
|
|
|
33.8
|
|
|
72
|
|
|
75
|
|
|
25.8
|
|
|
25.8
|
|
|
54,849
|
|
|
61,615
|
|
||||
|
|
$2,199.1
|
|
|
|
$2,209.1
|
|
|
22,487
|
|
|
22,586
|
|
|
|
$262.7
|
|
|
|
$248.7
|
|
|
85,820
|
|
|
94,335
|
|
|
33
|
|
IPL
|
Electric
|
|
Gas
|
||||||||||||||||||||||||
|
Revenues
|
|
MWhs Sold
|
|
Revenues
|
|
Dths Sold
|
||||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||
Three Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$443.3
|
|
|
|
$443.7
|
|
|
3,784
|
|
|
3,898
|
|
|
|
$22.0
|
|
|
|
$18.9
|
|
|
2,189
|
|
|
2,486
|
|
Sales for resale
|
33.6
|
|
|
29.5
|
|
|
692
|
|
|
389
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
12.1
|
|
|
10.0
|
|
|
9
|
|
|
11
|
|
|
5.4
|
|
|
5.0
|
|
|
9,374
|
|
|
8,783
|
|
||||
|
|
$489.0
|
|
|
|
$483.2
|
|
|
4,485
|
|
|
4,298
|
|
|
|
$27.4
|
|
|
|
$23.9
|
|
|
11,563
|
|
|
11,269
|
|
Nine Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$1,105.5
|
|
|
|
$1,110.8
|
|
|
10,761
|
|
|
10,944
|
|
|
|
$129.9
|
|
|
|
$127.2
|
|
|
16,548
|
|
|
18,097
|
|
Sales for resale
|
83.5
|
|
|
75.5
|
|
|
1,527
|
|
|
1,056
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
28.6
|
|
|
22.9
|
|
|
30
|
|
|
31
|
|
|
17.3
|
|
|
15.4
|
|
|
29,092
|
|
|
27,066
|
|
||||
|
|
$1,217.6
|
|
|
|
$1,209.2
|
|
|
12,318
|
|
|
12,031
|
|
|
|
$147.2
|
|
|
|
$142.6
|
|
|
45,640
|
|
|
45,163
|
|
WPL
|
Electric
|
|
Gas
|
||||||||||||||||||||||||
|
Revenues
|
|
MWhs Sold
|
|
Revenues
|
|
Dths Sold
|
||||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||
Three Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$302.4
|
|
|
|
$328.8
|
|
|
2,938
|
|
|
3,037
|
|
|
|
$15.4
|
|
|
|
$12.0
|
|
|
1,555
|
|
|
1,440
|
|
Sales for resale
|
42.0
|
|
|
48.0
|
|
|
698
|
|
|
882
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
7.2
|
|
|
4.3
|
|
|
13
|
|
|
13
|
|
|
3.0
|
|
|
3.6
|
|
|
10,413
|
|
|
11,519
|
|
||||
|
|
$351.6
|
|
|
|
$381.1
|
|
|
3,649
|
|
|
3,932
|
|
|
|
$18.4
|
|
|
|
$15.6
|
|
|
11,968
|
|
|
12,959
|
|
Nine Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$844.9
|
|
|
|
$859.6
|
|
|
8,090
|
|
|
8,195
|
|
|
|
$107.0
|
|
|
|
$95.7
|
|
|
14,423
|
|
|
14,623
|
|
Sales for resale
|
121.3
|
|
|
129.4
|
|
|
2,037
|
|
|
2,316
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
15.3
|
|
|
10.9
|
|
|
42
|
|
|
44
|
|
|
8.5
|
|
|
|
$10.4
|
|
|
25,757
|
|
|
34,549
|
|
|||
|
|
$981.5
|
|
|
|
$999.9
|
|
|
10,169
|
|
|
10,555
|
|
|
|
$115.5
|
|
|
|
$106.1
|
|
|
40,180
|
|
|
49,172
|
|
|
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
|
Second quarter (CDD)
|
2% cooler - 13% warmer than normal
|
|
10% - 35% warmer than normal
|
|
Decrease in IPL’s and WPL’s electric sales due to lower demand by customers for air cooling
|
Third quarter (CDD)
|
7% - 14% cooler than normal
|
|
20% warmer than normal
|
|
Decrease in IPL’s and WPL’s electric sales due to lower demand by customers for air cooling
|
|
Electric Margins
|
|
Gas Margins
|
||||||||||||||||||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||||||||||||||||||
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
|
2017
|
|
2016
|
|
Change
|
||||||||||||||||||||||||
IPL
|
|
($4
|
)
|
|
|
$7
|
|
|
|
($11
|
)
|
|
|
($8
|
)
|
|
|
$7
|
|
|
|
($15
|
)
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
($3
|
)
|
|
|
($2
|
)
|
|
|
($1
|
)
|
WPL
|
(4
|
)
|
|
4
|
|
|
(8
|
)
|
|
(9
|
)
|
|
3
|
|
|
(12
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|
—
|
|
|
(3
|
)
|
|
(2
|
)
|
|
(1
|
)
|
||||||||||||
Total Alliant Energy
|
|
($8
|
)
|
|
|
$11
|
|
|
|
($19
|
)
|
|
|
($17
|
)
|
|
|
$10
|
|
|
|
($27
|
)
|
|
|
($1
|
)
|
|
|
($1
|
)
|
|
|
$—
|
|
|
|
($6
|
)
|
|
|
($4
|
)
|
|
|
($2
|
)
|
|
34
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Higher margins at IPL from the impact of its 2016 Test Year interim retail electric base rate increase (a)
|
|
$34
|
|
|
|
$34
|
|
|
|
$—
|
|
|
|
$54
|
|
|
|
$54
|
|
|
|
$—
|
|
Higher margins at WPL from the impact of its 2017/2018 Test Period retail electric base rate increase (b)
|
4
|
|
|
—
|
|
|
4
|
|
|
42
|
|
|
—
|
|
|
42
|
|
||||||
Retail electric customer billing credits at IPL in 2016
|
3
|
|
|
3
|
|
|
—
|
|
|
7
|
|
|
7
|
|
|
—
|
|
||||||
Estimated changes in sales caused by temperatures (Refer to “Temperatures” above for details)
|
(19
|
)
|
|
(11
|
)
|
|
(8
|
)
|
|
(27
|
)
|
|
(15
|
)
|
|
(12
|
)
|
||||||
Changes in electric fuel-related costs, net of recoveries at WPL (c)
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
|
(11
|
)
|
|
—
|
|
|
(11
|
)
|
||||||
Revenue requirement adjustment in 2016 related to certain tax benefits from tax accounting method changes at IPL
|
(4
|
)
|
|
(4
|
)
|
|
—
|
|
|
(11
|
)
|
|
(11
|
)
|
|
—
|
|
||||||
Lower wholesale margins at WPL primarily due to the expiration of a wholesale power supply agreement on May 31, 2017
|
(6
|
)
|
|
—
|
|
|
(6
|
)
|
|
(8
|
)
|
|
—
|
|
|
(8
|
)
|
||||||
Other
|
7
|
|
|
4
|
|
|
3
|
|
|
9
|
|
|
4
|
|
|
5
|
|
||||||
|
|
$17
|
|
|
|
$26
|
|
|
|
($9
|
)
|
|
|
$55
|
|
|
|
$39
|
|
|
|
$16
|
|
(a)
|
In April 2017, IPL filed a request with the IUB to increase annual electric base rates for its Iowa retail electric customers by $176 million, or approximately 12%. An interim retail electric base rate increase of $102 million, or approximately 7%, on an annual basis, was implemented effective April 13, 2017. Refer to “
Rate Matters
” for discussion of IPL’s proposed IPL electric rate review settlement.
|
(b)
|
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 smaller during the summer quarters, compared to the winter quarters.
|
(c)
|
WPL estimates the decrease to electric margins from amounts within the approved bandwidth of plus or minus 2% of forecasted fuel-related expenses determined by the PSCW each year was approximately $6 million for the
nine months ended September 30, 2017
. WPL estimates the increases to electric margins from amounts within the bandwidth were approximately $2 million and $5 million for the
three and nine
months ended
September 30, 2016
, respectively.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Higher margins at WPL from the impact of its 2017/2018 Test Period retail gas base rate increase (a)
|
|
$2
|
|
|
|
$—
|
|
|
|
$2
|
|
|
|
$6
|
|
|
|
$—
|
|
|
|
$6
|
|
Higher revenues at IPL due to lower gas tax benefit rider credits on customer’s bills (Refer to
Note 2
for details)
|
1
|
|
|
1
|
|
|
—
|
|
|
4
|
|
|
4
|
|
|
—
|
|
||||||
Estimated changes in sales caused by temperatures (Refer to “Temperatures” above for details)
|
—
|
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
|
(1
|
)
|
|
(1
|
)
|
||||||
Other
|
1
|
|
|
1
|
|
|
—
|
|
|
3
|
|
|
3
|
|
|
—
|
|
||||||
|
|
$4
|
|
|
|
$2
|
|
|
|
$2
|
|
|
|
$11
|
|
|
|
$6
|
|
|
|
$5
|
|
(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.
|
|
35
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Higher energy efficiency cost recovery amortizations at WPL (a)
|
|
($7
|
)
|
|
|
$—
|
|
|
|
($7
|
)
|
|
|
($20
|
)
|
|
|
$—
|
|
|
|
($20
|
)
|
(Higher) lower bad debt expense
|
(1
|
)
|
|
1
|
|
|
(2
|
)
|
|
(9
|
)
|
|
(3
|
)
|
|
(6
|
)
|
||||||
Charges related to cancelled software projects in 2017
|
(6
|
)
|
|
(3
|
)
|
|
(3
|
)
|
|
(6
|
)
|
|
(3
|
)
|
|
(3
|
)
|
||||||
Write-down of regulatory assets due to the proposed IPL electric rate review settlement in 2017
|
(4
|
)
|
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
|
(4
|
)
|
|
—
|
|
||||||
(Higher) lower equity-based performance compensation expense
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
7
|
|
|
4
|
|
|
3
|
|
||||||
Other
|
(2
|
)
|
|
(4
|
)
|
|
—
|
|
|
3
|
|
|
(3
|
)
|
|
3
|
|
||||||
|
|
($21
|
)
|
|
|
($10
|
)
|
|
|
($12
|
)
|
|
|
($29
|
)
|
|
|
($9
|
)
|
|
|
($23
|
)
|
(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.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Higher interest expense primarily due to higher average outstanding long-term debt balances
|
|
($5
|
)
|
|
|
($2
|
)
|
|
|
$—
|
|
|
|
($14
|
)
|
|
|
($8
|
)
|
|
|
$—
|
|
Lower equity income from unconsolidated investments at WPL from the transfer of its investment in ATC LLC to ATI on December 31, 2016
|
—
|
|
|
—
|
|
|
(9
|
)
|
|
—
|
|
|
—
|
|
|
(29
|
)
|
||||||
Higher (lower) AFUDC primarily due to increased (decreased) construction work in progress balances
|
(6
|
)
|
|
(9
|
)
|
|
3
|
|
|
(8
|
)
|
|
(11
|
)
|
|
4
|
|
||||||
Other
|
1
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|
—
|
|
|
(1
|
)
|
||||||
|
|
($10
|
)
|
|
|
($11
|
)
|
|
|
($6
|
)
|
|
|
($18
|
)
|
|
|
($19
|
)
|
|
|
($26
|
)
|
|
36
|
|
Wind Generation (a)
|
|
Regulatory Application Filing Status
|
IPL - up to 500 MW
|
|
Approved by the IUB in October 2016
|
IPL - up to 500 MW (b)
|
|
Filed with the IUB in August 2017
|
WPL - up to 200 MW (b)
|
|
Plan to file with the PSCW in the fourth quarter of 2017
|
(a)
|
IPL and WPL believe their respective planned expansion of wind generation will qualify for the full level of production tax credits as a result of progress payments in 2016 for wind turbines, and plan to place these wind projects into service by the fourth quarter of 2020.
|
(b)
|
The amount and timing of these wind projects will largely depend on regulatory approvals and the acquisition of wind sites.
|
•
|
Up to 500 MW of additional wind generation that qualifies for the full level of production tax credits, as long as the project is located in Iowa, with a cost cap of $1,780/kilowatt, including AFUDC and transmission costs. Any costs incurred in excess of this $1,780/kilowatt cost cap are expected to be incorporated into rates if determined to be reasonable and prudent.
|
•
|
A depreciable life of the wind generation facilities of 40 years, unless changed as a result of a contested case before the IUB.
|
•
|
An 11.0% return on common equity, with the exception of certain transmission facilities classified as intangible assets, which would earn the rate of return on common equity the IUB finds reasonable during a future rate review.
|
•
|
A return on common equity for the calculation of AFUDC during the construction period that is the greater of 10.0% or the percentage the IUB finds reasonable during IPL’s retail electric rate review for the 2016 Test Year.
|
•
|
The application of double leverage is deferred until IPL’s next retail electric base rate review or other future proceeding.
|
•
|
Amortization over a 10-year period of IPL’s prudently incurred and unreimbursed costs, effective with IPL’s next retail electric base rate review, if IPL cancels the construction of the wind generation.
|
|
37
|
|
|
Interim Rates
|
|
Final Rates (Proposed Settlement)
|
Regulatory capital structure:
|
|
|
|
Common equity
|
49.1%
|
|
49.0%
|
Long-term debt
|
46.3%
|
|
46.8%
|
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%) (a)
|
7.4%
|
|
7.3%
|
Retail electric rate base (b)
|
$3.8 billion
|
|
$4.0 billion
|
(a)
|
Other ROE of 9.6% for interim rates reflects the application of double leverage. Prior to application of double leverage, Other ROE for interim rates was 10.0%. Other ROE of 9.6% for final rates (based on proposed settlement) does not reflect the application of double leverage.
|
(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 retail electric rate base for final rates (based on proposed settlement) also includes deferred tax assets for production tax credits generated by Whispering Willow - East and post-test year capital additions placed in service by September 30, 2017.
|
|
38
|
|
|
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
|
883.4
|
|
|
654.0
|
|
|
470.6
|
|
|
256.5
|
|
|
361.2
|
|
|
439.3
|
|
||||||
Investing activities
|
(1,072.3
|
)
|
|
(771.8
|
)
|
|
(493.6
|
)
|
|
(435.4
|
)
|
|
(470.2
|
)
|
|
(326.7
|
)
|
||||||
Financing activities
|
189.9
|
|
|
196.7
|
|
|
24.4
|
|
|
252.1
|
|
|
108.0
|
|
|
(107.4
|
)
|
||||||
Net increase (decrease)
|
1.0
|
|
|
78.9
|
|
|
1.4
|
|
|
73.2
|
|
|
(1.0
|
)
|
|
5.2
|
|
||||||
Cash and cash equivalents, September 30
|
|
$9.2
|
|
|
|
$84.7
|
|
|
|
$4.7
|
|
|
|
$77.7
|
|
|
|
$3.2
|
|
|
|
$5.6
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Changes in the level of cash proceeds from IPL’s sales of accounts receivable
|
|
$95
|
|
|
|
$95
|
|
|
|
$—
|
|
Higher collections at IPL due to interim retail electric base rate increase effective April 13, 2017
|
54
|
|
|
54
|
|
|
—
|
|
|||
Higher collections at WPL due to new retail electric and gas base rates in 2017
|
48
|
|
|
—
|
|
|
48
|
|
|||
Changes in cash collateral balances
|
38
|
|
|
—
|
|
|
—
|
|
|||
Changes in levels of production fuel
|
11
|
|
|
23
|
|
|
(12
|
)
|
|||
Timing of WPL’s fuel-related cost recoveries from customers
|
(49
|
)
|
|
—
|
|
|
(49
|
)
|
|||
Changes in income taxes paid/refunded
|
(3
|
)
|
|
13
|
|
|
(40
|
)
|
|||
Other (primarily due to other changes in working capital)
|
35
|
|
|
29
|
|
|
(25
|
)
|
|||
|
|
$229
|
|
|
|
$214
|
|
|
|
($78
|
)
|
|
39
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher utility construction expenditures (a)
|
|
($166
|
)
|
|
|
($34
|
)
|
|
|
($147
|
)
|
Non-regulated wind investment in Oklahoma (Refer to
Note 5(a)
for details)
|
(98
|
)
|
|
—
|
|
|
—
|
|
|||
Proceeds from the liquidation of company-owned life insurance policies in 2016
|
(31
|
)
|
|
(19
|
)
|
|
—
|
|
|||
Other
|
(6
|
)
|
|
(5
|
)
|
|
3
|
|
|||
|
|
($301
|
)
|
|
|
($58
|
)
|
|
|
($144
|
)
|
(a)
|
Largely due to higher expenditures for WPL’s West Riverside facility, IPL’s and WPL’s electric and gas distribution systems and IPL’s expansion of wind generation, partially offset by lower expenditures for IPL’s Marshalltown facility and WPL’s scrubber and baghouse at Edgewater Unit 5.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||||||||||||||
|
2017
|
2018
|
2019
|
2020
|
2021
|
|
2017
|
2018
|
2019
|
2020
|
2021
|
|
2017
|
2018
|
2019
|
2020
|
2021
|
||||||||||||||||||||||||||||||
Generation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||
Renewable projects
|
|
$180
|
|
|
$655
|
|
|
$850
|
|
|
$140
|
|
|
$85
|
|
|
|
$210
|
|
|
$565
|
|
|
$725
|
|
|
$50
|
|
|
$85
|
|
|
|
$—
|
|
|
$90
|
|
|
$125
|
|
|
$90
|
|
|
$—
|
|
West Riverside
|
235
|
|
225
|
|
90
|
|
10
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
235
|
|
225
|
|
90
|
|
10
|
|
—
|
|
|||||||||||||||
Marshalltown
|
30
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
30
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|||||||||||||||
Other
|
220
|
|
140
|
|
95
|
|
150
|
|
140
|
|
|
85
|
|
60
|
|
50
|
|
80
|
|
75
|
|
|
135
|
|
80
|
|
45
|
|
70
|
|
65
|
|
|||||||||||||||
Distribution:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||
Electric systems
|
480
|
|
440
|
|
435
|
|
485
|
|
560
|
|
|
290
|
|
260
|
|
250
|
|
290
|
|
345
|
|
|
190
|
|
180
|
|
185
|
|
195
|
|
215
|
|
|||||||||||||||
Gas systems
|
130
|
|
130
|
|
95
|
|
90
|
|
115
|
|
|
90
|
|
75
|
|
50
|
|
55
|
|
65
|
|
|
40
|
|
55
|
|
45
|
|
35
|
|
50
|
|
|||||||||||||||
Other
|
210
|
|
130
|
|
110
|
|
125
|
|
100
|
|
|
30
|
|
25
|
|
20
|
|
25
|
|
20
|
|
|
10
|
|
10
|
|
10
|
|
10
|
|
10
|
|
|||||||||||||||
|
|
$1,485
|
|
|
$1,720
|
|
|
$1,675
|
|
|
$1,000
|
|
|
$1,000
|
|
|
|
$735
|
|
|
$985
|
|
|
$1,095
|
|
|
$500
|
|
|
$590
|
|
|
|
$610
|
|
|
$640
|
|
|
$500
|
|
|
$410
|
|
|
$340
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower net proceeds from issuance of long-term debt
|
|
($300
|
)
|
|
|
($300
|
)
|
|
|
$—
|
|
Net changes in the amount of commercial paper and other short-term borrowings outstanding
|
203
|
|
|
44
|
|
|
180
|
|
|||
Higher net proceeds from common stock issuances
|
123
|
|
|
—
|
|
|
—
|
|
|||
Higher capital contributions from IPL’s and WPL’s parent company, Alliant Energy
|
—
|
|
|
35
|
|
|
40
|
|
|||
Other (includes higher dividend payments in 2017)
|
(33
|
)
|
|
(7
|
)
|
|
(5
|
)
|
|||
|
|
($7
|
)
|
|
|
($228
|
)
|
|
|
$215
|
|
|
40
|
|
|
41
|
|
|
42
|
|
|
|
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)
|
|||
July 1 through July 31
|
|
2,299
|
|
|
|
$39.81
|
|
|
—
|
|
N/A
|
August 1 through August 31
|
|
3,727
|
|
|
41.93
|
|
|
—
|
|
N/A
|
|
September 1 through September 30
|
|
337
|
|
|
42.45
|
|
|
—
|
|
N/A
|
|
|
|
6,363
|
|
|
41.19
|
|
|
—
|
|
|
(a)
|
All shares were purchased on the open market and held in a rabbi trust under the Alliant Energy Deferred Compensation Plan. There is no limit on the number of shares of Alliant Energy common stock that may be held under the Deferred Compensation Plan, which currently does not have an expiration date.
|
|
43
|
|
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)
|
|
44
|
|
|
Nine Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
September 30,
|
|
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
|
|
$362.1
|
|
|
|
$310.8
|
|
|
|
$373.8
|
|
|
$380.7
|
|
|
$385.5
|
|
|
$364.2
|
|
|
$324.9
|
|
Income taxes (a)
|
64.9
|
|
|
47.2
|
|
|
59.4
|
|
70.4
|
|
44.3
|
|
53.9
|
|
89.4
|
|
|||||||
Subtotal
|
427.0
|
|
|
358.0
|
|
|
433.2
|
|
451.1
|
|
429.8
|
|
418.1
|
|
414.3
|
|
|||||||
Fixed charges as defined
|
169.6
|
|
|
156.0
|
|
|
210.2
|
|
202.3
|
|
195.7
|
|
189.0
|
|
208.0
|
|
|||||||
Adjustment for undistributed equity earnings
|
(4.4
|
)
|
|
(8.1
|
)
|
|
(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)
|
9.1
|
|
|
8.8
|
|
|
11.8
|
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
|||||||
Total earnings as defined
|
|
$583.1
|
|
|
|
$497.1
|
|
|
|
$620.1
|
|
|
$636.9
|
|
|
$609.2
|
|
|
$585.3
|
|
|
$589.0
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$159.0
|
|
|
|
$144.8
|
|
|
|
$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
|
1.5
|
|
|
2.4
|
|
|
2.0
|
|
1.9
|
|
2.8
|
|
2.7
|
|
25.1
|
|
|||||||
Preferred dividend requirements of subsidiaries (pre-tax basis) (b)
|
9.1
|
|
|
8.8
|
|
|
11.8
|
|
12.0
|
|
11.3
|
|
13.0
|
|
20.1
|
|
|||||||
Total fixed charges as defined
|
|
$169.6
|
|
|
|
$156.0
|
|
|
|
$210.2
|
|
|
$202.3
|
|
|
$195.7
|
|
|
$189.0
|
|
|
$208.0
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges (c)
|
3.44
|
|
|
3.19
|
|
|
2.95
|
|
3.15
|
|
3.11
|
|
3.10
|
|
2.83
|
|
|
Nine Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
September 30,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2017
|
|
2016
|
|
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income
|
|
$208.1
|
|
|
|
$199.3
|
|
|
|
$225.8
|
|
|
$196.2
|
|
|
$191.8
|
|
|
$188.3
|
|
|
$158.3
|
|
Income tax benefit (a)
|
(18.6
|
)
|
|
(2.5
|
)
|
|
(5.9
|
)
|
(22.7
|
)
|
(48.9
|
)
|
(36.3
|
)
|
(27.9
|
)
|
|||||||
Income before income taxes
|
189.5
|
|
|
196.8
|
|
|
219.9
|
|
173.5
|
|
142.9
|
|
152.0
|
|
130.4
|
|
|||||||
Fixed charges as defined
|
84.0
|
|
|
76.7
|
|
|
103.7
|
|
97.2
|
|
91.0
|
|
82.3
|
|
79.3
|
|
|||||||
Total earnings as defined
|
|
$273.5
|
|
|
|
$273.5
|
|
|
|
$323.6
|
|
|
$270.7
|
|
|
$233.9
|
|
|
$234.3
|
|
|
$209.7
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$83.5
|
|
|
|
$75.4
|
|
|
|
$103.2
|
|
|
$96.8
|
|
|
$89.9
|
|
|
$81.3
|
|
|
$78.5
|
|
Estimated interest component of rent expense
|
0.5
|
|
|
1.3
|
|
|
0.5
|
|
0.4
|
|
1.1
|
|
1.0
|
|
0.8
|
|
|||||||
Total fixed charges as defined
|
|
$84.0
|
|
|
|
$76.7
|
|
|
|
$103.7
|
|
|
$97.2
|
|
|
$91.0
|
|
|
$82.3
|
|
|
$79.3
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges
|
3.26
|
|
|
3.57
|
|
|
3.12
|
|
2.78
|
|
2.57
|
|
2.85
|
|
2.64
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Preferred dividend requirements (pre-tax basis) (b)
|
|
$7.0
|
|
|
|
$7.6
|
|
|
|
$9.9
|
|
|
$9.0
|
|
|
$7.6
|
|
|
$8.7
|
|
|
$10.4
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Fixed charges and preferred dividend requirements
|
|
$91.0
|
|
|
|
$84.3
|
|
|
|
$113.6
|
|
|
$106.2
|
|
|
$98.6
|
|
|
$91.0
|
|
|
$89.7
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements
|
3.01
|
|
|
3.24
|
|
|
2.85
|
|
2.55
|
|
2.37
|
|
2.57
|
|
2.34
|
|
|
Nine Months Ended
|
|
|
|
|
|
|
||||||||||||||||
|
September 30,
|
|
Years Ended December 31,
|
||||||||||||||||||||
|
2017
|
|
2016
|
|
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||
|
(dollars in millions)
|
||||||||||||||||||||||
EARNINGS:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income
|
|
$133.4
|
|
|
|
$160.3
|
|
|
|
$192.8
|
|
|
$177.6
|
|
|
$181.1
|
|
|
$179.1
|
|
|
$172.7
|
|
Income taxes (a)
|
60.1
|
|
|
77.1
|
|
|
93.3
|
|
82.9
|
|
85.3
|
|
85.6
|
|
87.6
|
|
|||||||
Income before income taxes
|
193.5
|
|
|
237.4
|
|
|
286.1
|
|
260.5
|
|
266.4
|
|
264.7
|
|
260.3
|
|
|||||||
Fixed charges as defined
|
70.1
|
|
|
69.7
|
|
|
92.7
|
|
93.7
|
|
87.7
|
|
86.4
|
|
103.9
|
|
|||||||
Adjustment for undistributed equity earnings
|
(0.3
|
)
|
|
(8.3
|
)
|
|
(11.5
|
)
|
(4.5
|
)
|
(6.4
|
)
|
(8.3
|
)
|
(7.9
|
)
|
|||||||
Total earnings as defined
|
|
$263.3
|
|
|
|
$298.8
|
|
|
|
$367.3
|
|
|
$349.7
|
|
|
$347.7
|
|
|
$342.8
|
|
|
$356.3
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FIXED CHARGES:
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Interest expense
|
|
$69.1
|
|
|
|
$68.7
|
|
|
|
$91.4
|
|
|
$92.4
|
|
|
$86.4
|
|
|
$85.0
|
|
|
$80.2
|
|
Estimated interest component of rent expense
|
1.0
|
|
|
1.0
|
|
|
1.3
|
|
1.3
|
|
1.3
|
|
1.4
|
|
23.7
|
|
|||||||
Total fixed charges as defined
|
|
$70.1
|
|
|
|
$69.7
|
|
|
|
$92.7
|
|
|
$93.7
|
|
|
$87.7
|
|
|
$86.4
|
|
|
$103.9
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ratio of Earnings to Fixed Charges
|
3.76
|
|
|
4.29
|
|
|
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
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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
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman, President and Chief Executive Officer
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Vice President, Chief Financial Officer and Treasurer
|