|
|
|
|
|
|
|
|
|
|
☒
|
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
|
|
|
|
|
☒
|
|
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|
|
Page
|
Abbreviation or Acronym
|
Definition
|
Abbreviation or Acronym
|
Definition
|
2017 Form 10-K
|
Combined Annual Report on Form 10-K filed by Alliant Energy, IPL and WPL for the year ended Dec. 31, 2017
|
IUB
|
Iowa Utilities Board
|
AEF
|
Alliant Energy Finance, LLC
|
MDA
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
AFUDC
|
Allowance for funds used during construction
|
MISO
|
Midcontinent Independent System Operator, Inc.
|
Alliant Energy
|
Alliant Energy Corporation
|
MW
|
Megawatt
|
ATC
|
American Transmission Company LLC
|
MWh
|
Megawatt-hour
|
ATC Holdings
|
Interest in American Transmission Company LLC and ATC Holdco LLC
|
N/A
|
Not applicable
|
Corporate Services
|
Alliant Energy Corporate Services, Inc.
|
Note(s)
|
Combined Notes to Condensed Consolidated Financial Statements
|
DAEC
|
Duane Arnold Energy Center
|
NOx
|
Nitrogen oxide
|
Dth
|
Dekatherm
|
OPEB
|
Other postretirement benefits
|
EGU
|
Electric generating unit
|
PPA
|
Purchased power agreement
|
EPA
|
U.S. Environmental Protection Agency
|
PSCW
|
Public Service Commission of Wisconsin
|
FERC
|
Federal Energy Regulatory Commission
|
Riverside
|
Riverside Energy Center
|
Financial Statements
|
Condensed Consolidated Financial Statements
|
SCR
|
Selective catalytic reduction
|
FTR
|
Financial transmission right
|
Federal Tax Reform
|
Tax Cuts and Jobs Act
|
Fuel-related
|
Electric production fuel and purchased power
|
U.S.
|
United States of America
|
GAAP
|
U.S. generally accepted accounting principles
|
Whiting Petroleum
|
Whiting Petroleum Corporation
|
IPL
|
Interstate Power and Light Company
|
WPL
|
Wisconsin Power and Light Company
|
•
|
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;
|
•
|
federal and state regulatory or governmental actions, including the impact of energy, tax, financial and health care legislation, and regulatory agency orders;
|
•
|
ability to obtain necessary regulatory approval for capital projects with acceptable conditions;
|
•
|
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;
|
•
|
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 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;
|
•
|
employee workforce factors, including changes in key executives, ability to hire and retain employees with specialized skills, ability to create desired corporate culture, collective bargaining agreements and negotiations, work stoppages or restructurings;
|
|
1
|
|
•
|
weather effects on results of utility operations;
|
•
|
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, 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;
|
•
|
continued access to the capital markets on competitive terms and rates, and the actions of credit rating agencies;
|
•
|
inflation and interest rates;
|
•
|
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;
|
•
|
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;
|
•
|
disruptions in the supply and delivery of natural gas, purchased electricity and coal;
|
•
|
changes in the price of transmission services and the ability to recover the cost of transmission services in a timely manner;
|
•
|
developments that adversely impact the ability to implement the strategic plan;
|
•
|
ability to obtain regulatory approval for wind projects with acceptable conditions, to complete construction within the cost caps set by regulators and to meet all requirements to qualify for the full level of production tax credits;
|
•
|
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;
|
•
|
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;
|
•
|
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;
|
•
|
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, indemnification agreements, warranties, parental guarantees or litigation;
|
•
|
Alliant Energy’s ability to sustain its dividend payout ratio goal;
|
•
|
changes to costs of providing benefits and related funding requirements of pension and OPEB plans due to the market value of the assets that fund the plans, economic conditions, financial market performance, interest rates, life expectancies and demographics;
|
•
|
material changes in employee-related benefit and compensation costs;
|
•
|
risks associated with operation and ownership of non-utility holdings;
|
•
|
changes in technology that alter the channels through which customers buy or utilize Alliant Energy’s, IPL’s or WPL’s products and services;
|
•
|
impacts on equity income from unconsolidated investments due to further potential changes to ATC’s authorized return on equity;
|
•
|
impacts of IPL’s future tax benefits from Iowa rate-making practices, including deductions for repairs expenditures, allocation of mixed service costs and state depreciation, and recoverability of the associated regulatory assets from customers, when the differences reverse in future periods;
|
•
|
the impacts of adjustments made to deferred tax assets and liabilities from changes in the tax laws;
|
•
|
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;
|
•
|
the effect of accounting standards issued periodically by standard-setting bodies;
|
•
|
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
2017
Form 10-K.
|
|
2
|
|
|
For the Three Months
|
|
For the Nine Months
|
||||||||||||
|
Ended September 30,
|
|
Ended September 30,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
|
(in millions, except per share amounts)
|
||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
||||||||
Electric utility
|
|
$861.2
|
|
|
|
$840.6
|
|
|
|
$2,296.2
|
|
|
|
$2,199.1
|
|
Gas utility
|
44.8
|
|
|
45.8
|
|
|
299.0
|
|
|
262.7
|
|
||||
Other utility
|
12.3
|
|
|
11.2
|
|
|
36.2
|
|
|
34.4
|
|
||||
Non-utility
|
10.3
|
|
|
9.3
|
|
|
29.6
|
|
|
29.9
|
|
||||
Total revenues
|
928.6
|
|
|
906.9
|
|
|
2,661.0
|
|
|
2,526.1
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Electric production fuel and purchased power
|
227.8
|
|
|
222.6
|
|
|
639.5
|
|
|
614.7
|
|
||||
Electric transmission service
|
129.1
|
|
|
121.0
|
|
|
375.2
|
|
|
363.3
|
|
||||
Cost of gas sold
|
11.3
|
|
|
15.0
|
|
|
150.0
|
|
|
135.5
|
|
||||
Other operation and maintenance
|
148.4
|
|
|
164.3
|
|
|
468.8
|
|
|
453.6
|
|
||||
Depreciation and amortization
|
129.0
|
|
|
120.7
|
|
|
376.4
|
|
|
342.7
|
|
||||
Taxes other than income taxes
|
26.9
|
|
|
27.0
|
|
|
78.1
|
|
|
79.1
|
|
||||
Total operating expenses
|
672.5
|
|
|
670.6
|
|
|
2,088.0
|
|
|
1,988.9
|
|
||||
Operating income
|
256.1
|
|
|
236.3
|
|
|
573.0
|
|
|
537.2
|
|
||||
Other (income) and deductions:
|
|
|
|
|
|
|
|
||||||||
Interest expense
|
63.3
|
|
|
53.9
|
|
|
183.8
|
|
|
159.0
|
|
||||
Equity income from unconsolidated investments, net
|
(9.8
|
)
|
|
(10.1
|
)
|
|
(41.6
|
)
|
|
(32.9
|
)
|
||||
Allowance for funds used during construction
|
(18.8
|
)
|
|
(9.6
|
)
|
|
(51.8
|
)
|
|
(36.7
|
)
|
||||
Other
|
1.6
|
|
|
4.6
|
|
|
6.0
|
|
|
13.1
|
|
||||
Total other (income) and deductions
|
36.3
|
|
|
38.8
|
|
|
96.4
|
|
|
102.5
|
|
||||
Income from continuing operations before income taxes
|
219.8
|
|
|
197.5
|
|
|
476.6
|
|
|
434.7
|
|
||||
Income taxes
|
11.7
|
|
|
26.1
|
|
|
42.1
|
|
|
64.9
|
|
||||
Income from continuing operations, net of tax
|
208.1
|
|
|
171.4
|
|
|
434.5
|
|
|
369.8
|
|
||||
Income from discontinued operations, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
1.4
|
|
||||
Net income
|
208.1
|
|
|
171.4
|
|
|
434.5
|
|
|
371.2
|
|
||||
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
|
|
$205.5
|
|
|
|
$168.8
|
|
|
|
$426.8
|
|
|
|
$363.5
|
|
Weighted average number of common shares outstanding (basic and diluted)
|
235.2
|
|
|
231.0
|
|
|
232.9
|
|
|
229.2
|
|
||||
Earnings per weighted average common share attributable to Alliant Energy common
shareowners (basic and diluted):
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations, net of tax
|
|
$0.87
|
|
|
|
$0.73
|
|
|
|
$1.83
|
|
|
|
$1.58
|
|
Income from discontinued operations, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
0.01
|
|
||||
Net income
|
|
$0.87
|
|
|
|
$0.73
|
|
|
|
$1.83
|
|
|
|
$1.59
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations, net of tax
|
|
$205.5
|
|
|
|
$168.8
|
|
|
|
$426.8
|
|
|
|
$362.1
|
|
Income from discontinued operations, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
1.4
|
|
||||
Net income
|
|
$205.5
|
|
|
|
$168.8
|
|
|
|
$426.8
|
|
|
|
$363.5
|
|
|
3
|
|
|
September 30,
2018 |
|
December 31,
2017 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$239.7
|
|
|
|
$27.9
|
|
Accounts receivable, less allowance for doubtful accounts
|
465.3
|
|
|
482.8
|
|
||
Production fuel, at weighted average cost
|
61.3
|
|
|
72.3
|
|
||
Gas stored underground, at weighted average cost
|
43.0
|
|
|
44.5
|
|
||
Materials and supplies, at weighted average cost
|
106.8
|
|
|
105.6
|
|
||
Regulatory assets
|
82.2
|
|
|
84.3
|
|
||
Other
|
126.5
|
|
|
87.7
|
|
||
Total current assets
|
1,124.8
|
|
|
905.1
|
|
||
Property, plant and equipment, net
|
12,005.2
|
|
|
11,234.5
|
|
||
Investments:
|
|
|
|
||||
ATC Holdings
|
285.9
|
|
|
274.2
|
|
||
Other
|
138.1
|
|
|
121.9
|
|
||
Total investments
|
424.0
|
|
|
396.1
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,612.5
|
|
|
1,582.4
|
|
||
Deferred charges and other
|
103.3
|
|
|
69.7
|
|
||
Total other assets
|
1,715.8
|
|
|
1,652.1
|
|
||
Total assets
|
|
$15,269.8
|
|
|
|
$14,187.8
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$506.1
|
|
|
|
$855.7
|
|
Commercial paper
|
136.8
|
|
|
320.2
|
|
||
Other short-term borrowings
|
—
|
|
|
95.0
|
|
||
Accounts payable
|
498.1
|
|
|
477.3
|
|
||
Regulatory liabilities
|
151.7
|
|
|
140.0
|
|
||
Other
|
255.6
|
|
|
260.8
|
|
||
Total current liabilities
|
1,548.3
|
|
|
2,149.0
|
|
||
Long-term debt, net (excluding current portion)
|
5,248.2
|
|
|
4,010.6
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,575.2
|
|
|
1,478.4
|
|
||
Regulatory liabilities
|
1,353.9
|
|
|
1,357.2
|
|
||
Pension and other benefit obligations
|
487.0
|
|
|
504.0
|
|
||
Other
|
286.8
|
|
|
306.4
|
|
||
Total other liabilities
|
3,702.9
|
|
|
3,646.0
|
|
||
Commitments and contingencies (
Note 13
)
|
|
|
|
|
|
||
Equity:
|
|
|
|
||||
Alliant Energy Corporation common equity:
|
|
|
|
||||
Common stock - $0.01 par value - 480,000,000 shares authorized; 235,936,447 and 231,348,646 shares outstanding
|
2.4
|
|
|
2.3
|
|
||
Additional paid-in capital
|
2,038.2
|
|
|
1,845.5
|
|
||
Retained earnings
|
2,539.5
|
|
|
2,346.0
|
|
||
Accumulated other comprehensive loss
|
(0.2
|
)
|
|
(0.5
|
)
|
||
Shares in deferred compensation trust - 377,723 and 463,365 shares at a weighted average cost of $25.27 and $23.91 per share
|
(9.5
|
)
|
|
(11.1
|
)
|
||
Total Alliant Energy Corporation common equity
|
4,570.4
|
|
|
4,182.2
|
|
||
Cumulative preferred stock of Interstate Power and Light Company
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
4,770.4
|
|
|
4,382.2
|
|
||
Total liabilities and equity
|
|
$15,269.8
|
|
|
|
$14,187.8
|
|
|
4
|
|
|
For the Nine Months
|
||||||
|
Ended September 30,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$434.5
|
|
|
|
$371.2
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
376.4
|
|
|
342.7
|
|
||
Deferred tax expense and tax credits
|
62.5
|
|
|
102.7
|
|
||
Equity income from unconsolidated investments,net
|
(41.6
|
)
|
|
(32.9
|
)
|
||
Other
|
8.2
|
|
|
25.8
|
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(325.2
|
)
|
|
(268.3
|
)
|
||
Regulatory assets
|
27.4
|
|
|
(108.9
|
)
|
||
Accounts payable
|
(47.3
|
)
|
|
3.8
|
|
||
Regulatory liabilities
|
14.7
|
|
|
(64.8
|
)
|
||
Deferred income taxes
|
32.7
|
|
|
101.0
|
|
||
Other
|
(100.1
|
)
|
|
(21.0
|
)
|
||
Net cash flows from operating activities
|
442.2
|
|
|
451.3
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Construction and acquisition expenditures:
|
|
|
|
||||
Utility business
|
(1,080.2
|
)
|
|
(892.5
|
)
|
||
Other
|
(47.8
|
)
|
|
(156.9
|
)
|
||
Cash receipts on sold receivables
|
337.2
|
|
|
432.1
|
|
||
Other
|
(24.9
|
)
|
|
(21.8
|
)
|
||
Net cash flows used for investing activities
|
(815.7
|
)
|
|
(639.1
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Common stock dividends
|
(233.3
|
)
|
|
(215.7
|
)
|
||
Proceeds from issuance of common stock, net
|
191.3
|
|
|
143.2
|
|
||
Proceeds from issuance of long-term debt
|
1,500.0
|
|
|
—
|
|
||
Payments to retire long-term debt
|
(603.1
|
)
|
|
(2.5
|
)
|
||
Net change in commercial paper and other short-term borrowings
|
(278.4
|
)
|
|
281.2
|
|
||
Other
|
10.9
|
|
|
(16.3
|
)
|
||
Net cash flows from financing activities
|
587.4
|
|
|
189.9
|
|
||
Net increase in cash, cash equivalents and restricted cash
|
213.9
|
|
|
2.1
|
|
||
Cash, cash equivalents and restricted cash at beginning of period
|
33.9
|
|
|
13.1
|
|
||
Cash, cash equivalents and restricted cash at end of period
|
|
$247.8
|
|
|
|
$15.2
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash paid during the period for:
|
|
|
|
||||
Interest, net of capitalized interest
|
|
($171.6
|
)
|
|
|
($158.5
|
)
|
Income taxes, net
|
|
($5.0
|
)
|
|
|
($11.4
|
)
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$236.2
|
|
|
|
$197.2
|
|
Beneficial interest obtained in exchange for securitized accounts receivable
|
|
$243.7
|
|
|
|
$115.3
|
|
|
5
|
|
|
For the Three Months
|
|
For the Nine Months
|
||||||||||||
|
Ended September 30,
|
|
Ended September 30,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
|
(in millions)
|
||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
||||||||
Electric utility
|
|
$509.2
|
|
|
|
$489.0
|
|
|
|
$1,337.0
|
|
|
|
$1,217.6
|
|
Gas utility
|
26.7
|
|
|
27.4
|
|
|
177.0
|
|
|
147.2
|
|
||||
Steam and other
|
11.7
|
|
|
11.0
|
|
|
34.2
|
|
|
33.3
|
|
||||
Total revenues
|
547.6
|
|
|
527.4
|
|
|
1,548.2
|
|
|
1,398.1
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Electric production fuel and purchased power
|
122.5
|
|
|
122.5
|
|
|
354.0
|
|
|
330.0
|
|
||||
Electric transmission service
|
92.8
|
|
|
78.2
|
|
|
268.0
|
|
|
235.0
|
|
||||
Cost of gas sold
|
6.4
|
|
|
9.9
|
|
|
83.8
|
|
|
74.6
|
|
||||
Other operation and maintenance
|
94.6
|
|
|
102.4
|
|
|
297.1
|
|
|
283.2
|
|
||||
Depreciation and amortization
|
73.9
|
|
|
66.2
|
|
|
209.2
|
|
|
181.0
|
|
||||
Taxes other than income taxes
|
14.3
|
|
|
14.4
|
|
|
39.7
|
|
|
41.1
|
|
||||
Total operating expenses
|
404.5
|
|
|
393.6
|
|
|
1,251.8
|
|
|
1,144.9
|
|
||||
Operating income
|
143.1
|
|
|
133.8
|
|
|
296.4
|
|
|
253.2
|
|
||||
Other (income) and deductions:
|
|
|
|
|
|
|
|
||||||||
Interest expense
|
30.4
|
|
|
27.9
|
|
|
90.6
|
|
|
83.5
|
|
||||
Allowance for funds used during construction
|
(11.0
|
)
|
|
(4.7
|
)
|
|
(28.3
|
)
|
|
(25.1
|
)
|
||||
Other
|
0.5
|
|
|
1.9
|
|
|
2.0
|
|
|
5.3
|
|
||||
Total other (income) and deductions
|
19.9
|
|
|
25.1
|
|
|
64.3
|
|
|
63.7
|
|
||||
Income before income taxes
|
123.2
|
|
|
108.7
|
|
|
232.1
|
|
|
189.5
|
|
||||
Income tax benefit
|
(5.9
|
)
|
|
(14.3
|
)
|
|
(0.5
|
)
|
|
(18.6
|
)
|
||||
Net income
|
129.1
|
|
|
123.0
|
|
|
232.6
|
|
|
208.1
|
|
||||
Preferred dividend requirements
|
2.6
|
|
|
2.6
|
|
|
7.7
|
|
|
7.7
|
|
||||
Earnings available for common stock
|
|
$126.5
|
|
|
|
$120.4
|
|
|
|
$224.9
|
|
|
|
$200.4
|
|
|
6
|
|
|
September 30,
2018 |
|
December 31,
2017 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$232.7
|
|
|
|
$3.6
|
|
Accounts receivable, less allowance for doubtful accounts
|
277.3
|
|
|
264.9
|
|
||
Production fuel, at weighted average cost
|
42.6
|
|
|
52.4
|
|
||
Gas stored underground, at weighted average cost
|
25.4
|
|
|
20.3
|
|
||
Materials and supplies, at weighted average cost
|
59.3
|
|
|
60.6
|
|
||
Regulatory assets
|
40.3
|
|
|
41.9
|
|
||
Other
|
38.0
|
|
|
32.3
|
|
||
Total current assets
|
715.6
|
|
|
476.0
|
|
||
Property, plant and equipment, net
|
6,432.9
|
|
|
5,926.2
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,209.6
|
|
|
1,189.7
|
|
||
Deferred charges and other
|
20.1
|
|
|
14.1
|
|
||
Total other assets
|
1,229.7
|
|
|
1,203.8
|
|
||
Total assets
|
|
$8,378.2
|
|
|
|
$7,606.0
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$250.0
|
|
|
|
$350.0
|
|
Accounts payable
|
279.0
|
|
|
220.3
|
|
||
Regulatory liabilities
|
95.9
|
|
|
69.7
|
|
||
Other
|
173.8
|
|
|
187.7
|
|
||
Total current liabilities
|
798.7
|
|
|
827.7
|
|
||
Long-term debt, net (excluding current portion)
|
2,551.8
|
|
|
2,056.0
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
933.0
|
|
|
910.7
|
|
||
Regulatory liabilities
|
666.7
|
|
|
685.7
|
|
||
Pension and other benefit obligations
|
168.3
|
|
|
173.8
|
|
||
Other
|
221.0
|
|
|
242.4
|
|
||
Total other liabilities
|
1,989.0
|
|
|
2,012.6
|
|
||
Commitments and contingencies (
Note 13
)
|
|
|
|
|
|
||
Equity:
|
|
|
|
||||
Interstate Power and Light Company common equity:
|
|
|
|
||||
Common stock - $2.50 par value - 24,000,000 shares authorized; 13,370,788 shares outstanding
|
33.4
|
|
|
33.4
|
|
||
Additional paid-in capital
|
2,027.8
|
|
|
1,797.8
|
|
||
Retained earnings
|
777.5
|
|
|
678.5
|
|
||
Total Interstate Power and Light Company common equity
|
2,838.7
|
|
|
2,509.7
|
|
||
Cumulative preferred stock
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
3,038.7
|
|
|
2,709.7
|
|
||
Total liabilities and equity
|
|
$8,378.2
|
|
|
|
$7,606.0
|
|
|
7
|
|
|
For the Nine Months
|
||||||
|
Ended September 30,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$232.6
|
|
|
|
$208.1
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
209.2
|
|
|
181.0
|
|
||
Other
|
(18.6
|
)
|
|
26.2
|
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(353.2
|
)
|
|
(328.7
|
)
|
||
Regulatory assets
|
14.0
|
|
|
(107.8
|
)
|
||
Accounts payable
|
(34.5
|
)
|
|
11.6
|
|
||
Regulatory liabilities
|
7.5
|
|
|
(49.6
|
)
|
||
Deferred income taxes
|
22.9
|
|
|
88.9
|
|
||
Other
|
(41.0
|
)
|
|
8.7
|
|
||
Net cash flows from operating activities
|
38.9
|
|
|
38.4
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Construction and acquisition expenditures
|
(635.2
|
)
|
|
(470.1
|
)
|
||
Cash receipts on sold receivables
|
337.2
|
|
|
432.1
|
|
||
Other
|
(30.9
|
)
|
|
(21.6
|
)
|
||
Net cash flows used for investing activities
|
(328.9
|
)
|
|
(59.6
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Common stock dividends
|
(125.9
|
)
|
|
(117.0
|
)
|
||
Capital contributions from parent
|
230.0
|
|
|
100.0
|
|
||
Proceeds from issuance of long-term debt
|
500.0
|
|
|
—
|
|
||
Payments to retire long-term debt
|
(100.0
|
)
|
|
—
|
|
||
Net change in commercial paper
|
—
|
|
|
44.0
|
|
||
Other
|
15.0
|
|
|
(2.6
|
)
|
||
Net cash flows from financing activities
|
519.1
|
|
|
24.4
|
|
||
Net increase in cash, cash equivalents and restricted cash
|
229.1
|
|
|
3.2
|
|
||
Cash, cash equivalents and restricted cash at beginning of period
|
7.2
|
|
|
4.2
|
|
||
Cash, cash equivalents and restricted cash at end of period
|
|
$236.3
|
|
|
|
$7.4
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash (paid) refunded during the period for:
|
|
|
|
||||
Interest
|
|
($89.1
|
)
|
|
|
($84.1
|
)
|
Income taxes, net
|
|
($2.4
|
)
|
|
|
$13.2
|
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$142.4
|
|
|
|
$71.0
|
|
Beneficial interest obtained in exchange for securitized accounts receivable
|
|
$243.7
|
|
|
|
$115.3
|
|
|
8
|
|
|
For the Three Months
|
|
For the Nine Months
|
||||||||||||
|
Ended September 30,
|
|
Ended September 30,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
|
(in millions)
|
||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
||||||||
Electric utility
|
|
$352.0
|
|
|
|
$351.6
|
|
|
|
$959.2
|
|
|
|
$981.5
|
|
Gas utility
|
18.1
|
|
|
18.4
|
|
|
122.0
|
|
|
115.5
|
|
||||
Other
|
0.6
|
|
|
0.2
|
|
|
2.0
|
|
|
1.1
|
|
||||
Total revenues
|
370.7
|
|
|
370.2
|
|
|
1,083.2
|
|
|
1,098.1
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Electric production fuel and purchased power
|
105.3
|
|
|
100.1
|
|
|
285.5
|
|
|
284.7
|
|
||||
Electric transmission service
|
36.3
|
|
|
42.8
|
|
|
107.2
|
|
|
128.3
|
|
||||
Cost of gas sold
|
4.9
|
|
|
5.1
|
|
|
66.2
|
|
|
60.9
|
|
||||
Other operation and maintenance
|
54.2
|
|
|
63.3
|
|
|
172.8
|
|
|
171.8
|
|
||||
Depreciation and amortization
|
54.1
|
|
|
53.6
|
|
|
164.2
|
|
|
158.8
|
|
||||
Taxes other than income taxes
|
11.7
|
|
|
11.8
|
|
|
35.7
|
|
|
35.3
|
|
||||
Total operating expenses
|
266.5
|
|
|
276.7
|
|
|
831.6
|
|
|
839.8
|
|
||||
Operating income
|
104.2
|
|
|
93.5
|
|
|
251.6
|
|
|
258.3
|
|
||||
Other (income) and deductions:
|
|
|
|
|
|
|
|
||||||||
Interest expense
|
24.2
|
|
|
23.1
|
|
|
73.5
|
|
|
69.1
|
|
||||
Allowance for funds used during construction
|
(7.8
|
)
|
|
(4.9
|
)
|
|
(23.5
|
)
|
|
(11.6
|
)
|
||||
Other
|
1.3
|
|
|
2.5
|
|
|
3.4
|
|
|
7.3
|
|
||||
Total other (income) and deductions
|
17.7
|
|
|
20.7
|
|
|
53.4
|
|
|
64.8
|
|
||||
Income before income taxes
|
86.5
|
|
|
72.8
|
|
|
198.2
|
|
|
193.5
|
|
||||
Income taxes
|
10.2
|
|
|
23.0
|
|
|
28.1
|
|
|
60.1
|
|
||||
Earnings available for common stock
|
|
$76.3
|
|
|
|
$49.8
|
|
|
|
$170.1
|
|
|
|
$133.4
|
|
|
9
|
|
|
September 30,
2018 |
|
December 31,
2017 |
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$6.4
|
|
|
|
$23.1
|
|
Accounts receivable, less allowance for doubtful accounts
|
180.6
|
|
|
212.2
|
|
||
Production fuel, at weighted average cost
|
18.7
|
|
|
19.9
|
|
||
Gas stored underground, at weighted average cost
|
17.6
|
|
|
24.2
|
|
||
Materials and supplies, at weighted average cost
|
44.5
|
|
|
42.1
|
|
||
Regulatory assets
|
41.9
|
|
|
42.4
|
|
||
Prepaid gross receipts tax
|
30.7
|
|
|
41.3
|
|
||
Other
|
60.5
|
|
|
13.4
|
|
||
Total current assets
|
400.9
|
|
|
418.6
|
|
||
Property, plant and equipment, net
|
5,183.3
|
|
|
4,917.9
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
402.9
|
|
|
392.7
|
|
||
Deferred charges and other
|
57.1
|
|
|
27.3
|
|
||
Total other assets
|
460.0
|
|
|
420.0
|
|
||
Total assets
|
|
$6,044.2
|
|
|
|
$5,756.5
|
|
LIABILITIES AND EQUITY
|
|
||||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$250.0
|
|
|
|
$—
|
|
Commercial paper
|
38.4
|
|
|
25.0
|
|
||
Accounts payable
|
162.4
|
|
|
201.7
|
|
||
Regulatory liabilities
|
55.8
|
|
|
70.3
|
|
||
Other
|
95.1
|
|
|
99.2
|
|
||
Total current liabilities
|
601.7
|
|
|
396.2
|
|
||
Long-term debt, net (excluding current portion)
|
1,584.5
|
|
|
1,833.4
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
579.6
|
|
|
522.4
|
|
||
Regulatory liabilities
|
687.2
|
|
|
671.5
|
|
||
Capital lease obligations - Sheboygan Falls Energy Facility
|
62.0
|
|
|
70.2
|
|
||
Pension and other benefit obligations
|
207.0
|
|
|
213.7
|
|
||
Other
|
175.6
|
|
|
167.6
|
|
||
Total other liabilities
|
1,711.4
|
|
|
1,645.4
|
|
||
Commitments and contingencies (
Note 13
)
|
|
|
|
||||
Equity:
|
|
|
|
||||
Wisconsin Power and Light Company common equity:
|
|
|
|
||||
Common stock - $5 par value - 18,000,000 shares authorized; 13,236,601 shares outstanding
|
66.2
|
|
|
66.2
|
|
||
Additional paid-in capital
|
1,309.0
|
|
|
1,109.0
|
|
||
Retained earnings
|
771.4
|
|
|
706.3
|
|
||
Total Wisconsin Power and Light Company common equity
|
2,146.6
|
|
|
1,881.5
|
|
||
Total liabilities and equity
|
|
$6,044.2
|
|
|
|
$5,756.5
|
|
|
10
|
|
|
For the Nine Months
|
||||||
|
Ended September 30,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
|
$170.1
|
|
|
|
$133.4
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
||||
Depreciation and amortization
|
164.2
|
|
|
158.8
|
|
||
Deferred tax expense and tax credits
|
50.3
|
|
|
60.1
|
|
||
Other
|
(12.0
|
)
|
|
4.8
|
|
||
Other changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
29.7
|
|
|
41.8
|
|
||
Regulatory assets
|
13.4
|
|
|
(1.1
|
)
|
||
Other
|
(70.2
|
)
|
|
(36.6
|
)
|
||
Net cash flows from operating activities
|
345.5
|
|
|
361.2
|
|
||
Cash flows used for investing activities:
|
|
|
|
||||
Construction and acquisition expenditures
|
(445.0
|
)
|
|
(454.0
|
)
|
||
Other
|
(23.7
|
)
|
|
(18.6
|
)
|
||
Net cash flows used for investing activities
|
(468.7
|
)
|
|
(472.6
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Common stock dividends
|
(105.0
|
)
|
|
(94.5
|
)
|
||
Capital contributions from parent
|
200.0
|
|
|
40.0
|
|
||
Net change in commercial paper
|
13.4
|
|
|
172.3
|
|
||
Other
|
(1.7
|
)
|
|
(9.8
|
)
|
||
Net cash flows from financing activities
|
106.7
|
|
|
108.0
|
|
||
Net decrease in cash, cash equivalents and restricted cash
|
(16.5
|
)
|
|
(3.4
|
)
|
||
Cash, cash equivalents and restricted cash at beginning of period
|
24.2
|
|
|
6.9
|
|
||
Cash, cash equivalents and restricted cash at end of period
|
|
$7.7
|
|
|
|
$3.5
|
|
Supplemental cash flows information:
|
|
|
|
||||
Cash paid during the period for:
|
|
|
|
||||
Interest
|
|
($68.5
|
)
|
|
|
($68.1
|
)
|
Income taxes, net
|
|
($11.2
|
)
|
|
|
($20.2
|
)
|
Significant non-cash investing and financing activities:
|
|
|
|
||||
Accrued capital expenditures
|
|
$86.2
|
|
|
|
$122.3
|
|
|
11
|
|
|
12
|
|
|
13
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
September 30,
2018 |
|
December 31,
2017 |
|
September 30,
2018 |
|
December 31,
2017 |
|
September 30,
2018 |
|
December 31,
2017 |
||||||||||||
Tax-related
|
|
$798.3
|
|
|
|
$778.2
|
|
|
|
$762.4
|
|
|
|
$750.5
|
|
|
|
$35.9
|
|
|
|
$27.7
|
|
Pension and OPEB costs
|
519.8
|
|
|
548.0
|
|
|
261.2
|
|
|
274.4
|
|
|
258.6
|
|
|
273.6
|
|
||||||
Asset retirement obligations
|
111.6
|
|
|
109.3
|
|
|
77.3
|
|
|
72.5
|
|
|
34.3
|
|
|
36.8
|
|
||||||
EGUs retired early
|
110.4
|
|
|
63.8
|
|
|
57.2
|
|
|
31.6
|
|
|
53.2
|
|
|
32.2
|
|
||||||
Derivatives
|
26.3
|
|
|
45.3
|
|
|
13.3
|
|
|
21.8
|
|
|
13.0
|
|
|
23.5
|
|
||||||
Emission allowances
|
24.3
|
|
|
25.5
|
|
|
24.3
|
|
|
25.5
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
104.0
|
|
|
96.6
|
|
|
54.2
|
|
|
55.3
|
|
|
49.8
|
|
|
41.3
|
|
||||||
|
|
$1,694.7
|
|
|
|
$1,666.7
|
|
|
|
$1,249.9
|
|
|
|
$1,231.6
|
|
|
|
$444.8
|
|
|
|
$435.1
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
September 30,
2018 |
|
December 31,
2017 |
|
September 30,
2018 |
|
December 31,
2017 |
|
September 30,
2018 |
|
December 31,
2017 |
||||||||||||
Tax-related
|
|
$891.1
|
|
|
|
$899.4
|
|
|
|
$389.9
|
|
|
|
$399.5
|
|
|
|
$501.2
|
|
|
|
$499.9
|
|
Cost of removal obligations
|
401.0
|
|
|
410.0
|
|
|
274.0
|
|
|
274.5
|
|
|
127.0
|
|
|
135.5
|
|
||||||
Electric transmission cost recovery
|
97.0
|
|
|
90.4
|
|
|
37.9
|
|
|
26.4
|
|
|
59.1
|
|
|
64.0
|
|
||||||
Commodity cost recovery
|
20.1
|
|
|
21.0
|
|
|
13.6
|
|
|
14.6
|
|
|
6.5
|
|
|
6.4
|
|
||||||
IPL’s tax benefit riders
|
13.0
|
|
|
25.0
|
|
|
13.0
|
|
|
25.0
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
83.4
|
|
|
51.4
|
|
|
34.2
|
|
|
15.4
|
|
|
49.2
|
|
|
36.0
|
|
||||||
|
|
$1,505.6
|
|
|
|
$1,497.2
|
|
|
|
$762.6
|
|
|
|
$755.4
|
|
|
|
$743.0
|
|
|
|
$741.8
|
|
|
14
|
|
|
15
|
|
Property, plant and equipment, net
|
|
$81
|
|
Liabilities
|
7
|
|
|
Net assets acquired
|
|
$74
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Maximum outstanding aggregate cash proceeds
|
|
$110.0
|
|
|
|
$112.0
|
|
|
|
$116.0
|
|
|
|
$112.0
|
|
Average outstanding aggregate cash proceeds
|
36.4
|
|
|
66.2
|
|
|
49.8
|
|
|
58.7
|
|
|
September 30, 2018
|
|
December 31, 2017
|
||||
Customer accounts receivable
|
|
$179.0
|
|
|
|
$133.8
|
|
Unbilled utility revenues
|
78.2
|
|
|
112.7
|
|
||
Other receivables
|
0.1
|
|
|
0.3
|
|
||
Receivables sold to third party
|
257.3
|
|
|
246.8
|
|
||
Less: cash proceeds
|
1.0
|
|
|
12.0
|
|
||
Deferred proceeds
|
256.3
|
|
|
234.8
|
|
||
Less: allowance for doubtful accounts
|
12.6
|
|
|
12.7
|
|
||
Fair value of deferred proceeds
|
|
$243.7
|
|
|
|
$222.1
|
|
|
16
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Collections
|
|
$549.5
|
|
|
|
$347.9
|
|
|
|
$1,550.2
|
|
|
|
$1,283.2
|
|
Write-offs, net of recoveries
|
4.9
|
|
|
3.5
|
|
|
12.9
|
|
|
10.4
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
ATC Holdings
|
|
($8.9
|
)
|
|
|
($10.1
|
)
|
|
|
($25.4
|
)
|
|
|
($32.7
|
)
|
Non-utility wind farm in Oklahoma
|
0.1
|
|
|
0.2
|
|
|
(14.5
|
)
|
|
0.2
|
|
||||
Other
|
(1.0
|
)
|
|
(0.2
|
)
|
|
(1.7
|
)
|
|
(0.4
|
)
|
||||
|
|
($9.8
|
)
|
|
|
($10.1
|
)
|
|
|
($41.6
|
)
|
|
|
($32.9
|
)
|
Shares outstanding, January 1, 2018
|
231,348,646
|
|
At-the-market offering program
|
4,171,013
|
|
Shareowner Direct Plan issuances
|
450,133
|
|
Equity-based compensation plans (
Note 10(b)
)
|
5,078
|
|
Other
|
(38,423
|
)
|
Shares outstanding, September 30, 2018
|
235,936,447
|
|
|
17
|
|
September 30, 2018
|
Alliant Energy
|
|
IPL
|
|
WPL
|
Commercial paper outstanding
|
$136.8
|
|
$—
|
|
$38.4
|
Commercial paper weighted average interest rates
|
2.4%
|
|
N/A
|
|
2.2%
|
Available credit facility capacity
|
$863.2
|
|
$250.0
|
|
$311.6
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Three Months Ended September 30
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
Maximum amount outstanding (based on daily outstanding balances)
|
$153.3
|
|
$424.4
|
|
$—
|
|
$20.0
|
|
$75.4
|
|
$271.2
|
Average amount outstanding (based on daily outstanding balances)
|
$80.8
|
|
$386.2
|
|
$—
|
|
$0.4
|
|
$23.1
|
|
$217.0
|
Weighted average interest rates
|
2.2%
|
|
1.3%
|
|
N/A
|
|
1.4%
|
|
2.0%
|
|
1.1%
|
Nine Months Ended September 30
|
|
|
|
|
|
|
|
|
|
|
|
Maximum amount outstanding (based on daily outstanding balances)
|
$446.5
|
|
$424.4
|
|
$31.4
|
|
$20.0
|
|
$109.4
|
|
$271.2
|
Average amount outstanding (based on daily outstanding balances)
|
$207.6
|
|
$323.9
|
|
$1.7
|
|
$0.5
|
|
$26.6
|
|
$144.2
|
Weighted average interest rates
|
2.1%
|
|
1.1%
|
|
2.3%
|
|
1.2%
|
|
1.9%
|
|
1.0%
|
|
18
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Three Months Ended September 30
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Electric Utility:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail - residential
|
|
$312.9
|
|
|
|
$296.4
|
|
|
|
$180.1
|
|
|
|
$168.5
|
|
|
|
$132.8
|
|
|
|
$127.9
|
|
Retail - commercial
|
215.4
|
|
|
205.9
|
|
|
146.0
|
|
|
137.5
|
|
|
69.4
|
|
|
68.4
|
|
||||||
Retail - industrial
|
247.8
|
|
|
243.4
|
|
|
141.4
|
|
|
137.3
|
|
|
106.4
|
|
|
106.1
|
|
||||||
Wholesale
|
50.0
|
|
|
63.5
|
|
|
18.2
|
|
|
26.7
|
|
|
31.8
|
|
|
36.8
|
|
||||||
Bulk power and other
|
35.1
|
|
|
31.4
|
|
|
23.5
|
|
|
19.0
|
|
|
11.6
|
|
|
12.4
|
|
||||||
Total Electric Utility
|
861.2
|
|
|
840.6
|
|
|
509.2
|
|
|
489.0
|
|
|
352.0
|
|
|
351.6
|
|
||||||
Gas Utility:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail - residential
|
21.8
|
|
|
21.5
|
|
|
12.6
|
|
|
12.0
|
|
|
9.2
|
|
|
9.5
|
|
||||||
Retail - commercial
|
11.0
|
|
|
12.9
|
|
|
6.4
|
|
|
7.8
|
|
|
4.6
|
|
|
5.1
|
|
||||||
Retail - industrial
|
3.0
|
|
|
3.0
|
|
|
2.0
|
|
|
2.2
|
|
|
1.0
|
|
|
0.8
|
|
||||||
Transportation/other
|
9.0
|
|
|
8.4
|
|
|
5.7
|
|
|
5.4
|
|
|
3.3
|
|
|
3.0
|
|
||||||
Total Gas Utility
|
44.8
|
|
|
45.8
|
|
|
26.7
|
|
|
27.4
|
|
|
18.1
|
|
|
18.4
|
|
||||||
Other Utility:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Steam
|
8.7
|
|
|
8.3
|
|
|
8.7
|
|
|
8.3
|
|
|
—
|
|
|
—
|
|
||||||
Other utility
|
3.6
|
|
|
2.9
|
|
|
3.0
|
|
|
2.7
|
|
|
0.6
|
|
|
0.2
|
|
||||||
Total Other Utility
|
12.3
|
|
|
11.2
|
|
|
11.7
|
|
|
11.0
|
|
|
0.6
|
|
|
0.2
|
|
||||||
Non-Utility and Other:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Transportation and other
|
10.3
|
|
|
9.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total Non-Utility and Other
|
10.3
|
|
|
9.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total revenues
|
|
$928.6
|
|
|
|
$906.9
|
|
|
|
$547.6
|
|
|
|
$527.4
|
|
|
|
$370.7
|
|
|
|
$370.2
|
|
|
19
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Nine Months Ended September 30
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Electric Utility:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail - residential
|
|
$820.6
|
|
|
|
$766.9
|
|
|
|
$461.6
|
|
|
|
$414.2
|
|
|
|
$359.0
|
|
|
|
$352.7
|
|
Retail - commercial
|
561.7
|
|
|
537.3
|
|
|
371.8
|
|
|
340.6
|
|
|
189.9
|
|
|
196.7
|
|
||||||
Retail - industrial
|
675.1
|
|
|
646.2
|
|
|
385.0
|
|
|
350.7
|
|
|
290.1
|
|
|
295.5
|
|
||||||
Wholesale
|
146.9
|
|
|
186.3
|
|
|
56.4
|
|
|
71.3
|
|
|
90.5
|
|
|
115.0
|
|
||||||
Bulk power and other
|
91.9
|
|
|
62.4
|
|
|
62.2
|
|
|
40.8
|
|
|
29.7
|
|
|
21.6
|
|
||||||
Total Electric Utility
|
2,296.2
|
|
|
2,199.1
|
|
|
1,337.0
|
|
|
1,217.6
|
|
|
959.2
|
|
|
981.5
|
|
||||||
Gas Utility:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail - residential
|
170.1
|
|
|
145.1
|
|
|
100.9
|
|
|
78.7
|
|
|
69.2
|
|
|
66.4
|
|
||||||
Retail - commercial
|
87.3
|
|
|
81.4
|
|
|
49.8
|
|
|
44.4
|
|
|
37.5
|
|
|
37.0
|
|
||||||
Retail - industrial
|
11.4
|
|
|
10.4
|
|
|
6.1
|
|
|
6.8
|
|
|
5.3
|
|
|
3.6
|
|
||||||
Transportation/other
|
30.2
|
|
|
25.8
|
|
|
20.2
|
|
|
17.3
|
|
|
10.0
|
|
|
8.5
|
|
||||||
Total Gas Utility
|
299.0
|
|
|
262.7
|
|
|
177.0
|
|
|
147.2
|
|
|
122.0
|
|
|
115.5
|
|
||||||
Other Utility:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Steam
|
26.5
|
|
|
25.3
|
|
|
26.5
|
|
|
25.3
|
|
|
—
|
|
|
—
|
|
||||||
Other utility
|
9.7
|
|
|
9.1
|
|
|
7.7
|
|
|
8.0
|
|
|
2.0
|
|
|
1.1
|
|
||||||
Total Other Utility
|
36.2
|
|
|
34.4
|
|
|
34.2
|
|
|
33.3
|
|
|
2.0
|
|
|
1.1
|
|
||||||
Non-Utility and Other:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Transportation and other
|
29.6
|
|
|
29.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total Non-Utility and Other
|
29.6
|
|
|
29.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total revenues
|
|
$2,661.0
|
|
|
|
$2,526.1
|
|
|
|
$1,548.2
|
|
|
|
$1,398.1
|
|
|
|
$1,083.2
|
|
|
|
$1,098.1
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Three Months Ended September 30
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||
Statutory federal income tax rate
|
21.0
|
%
|
|
35.0
|
%
|
|
21.0
|
%
|
|
35.0
|
%
|
|
21.0
|
%
|
|
35.0
|
%
|
State income taxes, net of federal benefits
|
6.9
|
|
|
5.7
|
|
|
7.7
|
|
|
6.5
|
|
|
6.2
|
|
|
5.2
|
|
Effect of rate-making on property-related differences
|
(6.3
|
)
|
|
(10.1
|
)
|
|
(11.5
|
)
|
|
(22.6
|
)
|
|
(2.1
|
)
|
|
(1.9
|
)
|
Production tax credits
|
(5.4
|
)
|
|
(6.2
|
)
|
|
(5.5
|
)
|
|
(7.0
|
)
|
|
(6.4
|
)
|
|
(7.0
|
)
|
Adjustment for prior period taxes
|
(5.7
|
)
|
|
(2.0
|
)
|
|
(10.2
|
)
|
|
(3.5
|
)
|
|
—
|
|
|
0.8
|
|
IPL’s tax benefit riders
|
(2.3
|
)
|
|
(8.3
|
)
|
|
(4.8
|
)
|
|
(20.9
|
)
|
|
—
|
|
|
—
|
|
Federal Tax Reform adjustments
|
(2.5
|
)
|
|
—
|
|
|
(0.9
|
)
|
|
—
|
|
|
(6.4
|
)
|
|
—
|
|
Other items, net
|
(0.4
|
)
|
|
(0.9
|
)
|
|
(0.6
|
)
|
|
(0.7
|
)
|
|
(0.5
|
)
|
|
(0.5
|
)
|
Overall income tax rate
|
5.3
|
%
|
|
13.2
|
%
|
|
(4.8
|
%)
|
|
(13.2
|
%)
|
|
11.8
|
%
|
|
31.6
|
%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Nine Months Ended September 30
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||
Statutory federal income tax rate
|
21.0
|
%
|
|
35.0
|
%
|
|
21.0
|
%
|
|
35.0
|
%
|
|
21.0
|
%
|
|
35.0
|
%
|
State income taxes, net of federal benefits
|
6.9
|
|
|
5.6
|
|
|
7.7
|
|
|
6.5
|
|
|
6.2
|
|
|
5.1
|
|
Effect of rate-making on property-related differences
|
(6.7
|
)
|
|
(9.1
|
)
|
|
(12.0
|
)
|
|
(20.6
|
)
|
|
(2.3
|
)
|
|
(1.8
|
)
|
Production tax credits
|
(5.4
|
)
|
|
(6.0
|
)
|
|
(5.4
|
)
|
|
(6.8
|
)
|
|
(6.6
|
)
|
|
(7.0
|
)
|
Adjustment for prior period taxes
|
(2.6
|
)
|
|
(1.3
|
)
|
|
(5.4
|
)
|
|
(3.3
|
)
|
|
—
|
|
|
0.3
|
|
IPL’s tax benefit riders
|
(2.2
|
)
|
|
(8.1
|
)
|
|
(4.6
|
)
|
|
(20.1
|
)
|
|
—
|
|
|
—
|
|
Federal Tax Reform adjustments
|
(1.2
|
)
|
|
—
|
|
|
(0.5
|
)
|
|
—
|
|
|
(2.8
|
)
|
|
—
|
|
Other items, net
|
(1.0
|
)
|
|
(1.2
|
)
|
|
(1.0
|
)
|
|
(0.5
|
)
|
|
(1.3
|
)
|
|
(0.5
|
)
|
Overall income tax rate
|
8.8
|
%
|
|
14.9
|
%
|
|
(0.2
|
%)
|
|
(9.8
|
%)
|
|
14.2
|
%
|
|
31.1
|
%
|
|
20
|
|
|
Range of Expiration Dates
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Federal net operating losses
|
2030-2037
|
|
|
$804
|
|
|
|
$563
|
|
|
|
$144
|
|
State net operating losses
|
2018-2038
|
|
765
|
|
|
13
|
|
|
2
|
|
|||
Federal tax credits
|
2022-2038
|
|
290
|
|
|
129
|
|
|
143
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
Alliant Energy
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||||||
Service cost
|
|
$3.1
|
|
|
|
$3.1
|
|
|
|
$9.1
|
|
|
|
$9.3
|
|
|
|
$1.0
|
|
|
|
$1.2
|
|
|
|
$3.1
|
|
|
|
$3.7
|
|
Interest cost
|
11.7
|
|
|
12.7
|
|
|
35.1
|
|
|
38.3
|
|
|
2.0
|
|
|
2.2
|
|
|
5.8
|
|
|
6.5
|
|
||||||||
Expected return on plan assets
|
(17.4
|
)
|
|
(16.3
|
)
|
|
(52.3
|
)
|
|
(49.1
|
)
|
|
(1.5
|
)
|
|
(1.5
|
)
|
|
(4.5
|
)
|
|
(4.6
|
)
|
||||||||
Amortization of prior service credit
|
(0.2
|
)
|
|
(0.1
|
)
|
|
(0.5
|
)
|
|
(0.3
|
)
|
|
—
|
|
|
(0.1
|
)
|
|
(0.1
|
)
|
|
(0.2
|
)
|
||||||||
Amortization of actuarial loss
|
8.8
|
|
|
9.4
|
|
|
26.4
|
|
|
28.2
|
|
|
0.8
|
|
|
1.0
|
|
|
2.5
|
|
|
2.9
|
|
||||||||
Settlement losses (a)
|
—
|
|
|
0.9
|
|
|
—
|
|
|
0.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
|
|
$6.0
|
|
|
|
$9.7
|
|
|
|
$17.8
|
|
|
|
$27.3
|
|
|
|
$2.3
|
|
|
|
$2.8
|
|
|
|
$6.8
|
|
|
|
$8.3
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
IPL
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||||||
Service cost
|
|
$1.8
|
|
|
|
$1.8
|
|
|
|
$5.5
|
|
|
|
$5.5
|
|
|
|
$0.4
|
|
|
|
$0.5
|
|
|
|
$1.3
|
|
|
|
$1.6
|
|
Interest cost
|
5.3
|
|
|
5.9
|
|
|
16.0
|
|
|
17.6
|
|
|
0.7
|
|
|
0.8
|
|
|
2.3
|
|
|
2.6
|
|
||||||||
Expected return on plan assets
|
(8.1
|
)
|
|
(7.7
|
)
|
|
(24.4
|
)
|
|
(23.1
|
)
|
|
(1.1
|
)
|
|
(1.0
|
)
|
|
(3.3
|
)
|
|
(3.2
|
)
|
||||||||
Amortization of prior service credit
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
|
(0.1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Amortization of actuarial loss
|
3.7
|
|
|
4.0
|
|
|
11.2
|
|
|
12.1
|
|
|
0.4
|
|
|
0.5
|
|
|
1.0
|
|
|
1.5
|
|
||||||||
|
|
$2.7
|
|
|
|
$4.0
|
|
|
|
$8.2
|
|
|
|
$12.0
|
|
|
|
$0.4
|
|
|
|
$0.8
|
|
|
|
$1.3
|
|
|
|
$2.5
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
WPL
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||||||
Service cost
|
|
$1.1
|
|
|
|
$1.2
|
|
|
|
$3.3
|
|
|
|
$3.6
|
|
|
|
$0.4
|
|
|
|
$0.5
|
|
|
|
$1.2
|
|
|
|
$1.4
|
|
Interest cost
|
5.0
|
|
|
5.5
|
|
|
15.1
|
|
|
16.4
|
|
|
0.8
|
|
|
0.9
|
|
|
2.3
|
|
|
2.6
|
|
||||||||
Expected return on plan assets
|
(7.6
|
)
|
|
(7.2
|
)
|
|
(22.8
|
)
|
|
(21.4
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
(0.5
|
)
|
|
(0.6
|
)
|
||||||||
Amortization of prior service cost (credit)
|
—
|
|
|
0.1
|
|
|
(0.1
|
)
|
|
0.1
|
|
|
—
|
|
|
(0.1
|
)
|
|
(0.1
|
)
|
|
(0.2
|
)
|
||||||||
Amortization of actuarial loss
|
4.3
|
|
|
4.6
|
|
|
12.9
|
|
|
13.9
|
|
|
0.5
|
|
|
0.4
|
|
|
1.5
|
|
|
1.2
|
|
||||||||
|
|
$2.8
|
|
|
|
$4.2
|
|
|
|
$8.4
|
|
|
|
$12.6
|
|
|
|
$1.5
|
|
|
|
$1.5
|
|
|
|
$4.4
|
|
|
|
$4.4
|
|
(a)
|
Settlement losses related to payments made to retired executives of Alliant Energy.
|
|
21
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||||||||||||||
Compensation expense
|
|
$4.2
|
|
|
|
$5.1
|
|
|
|
$12.6
|
|
|
|
$9.9
|
|
|
|
$2.4
|
|
|
|
$2.8
|
|
|
|
$7.0
|
|
|
|
$5.4
|
|
|
|
$1.7
|
|
|
|
$2.1
|
|
|
|
$5.1
|
|
|
|
$4.1
|
|
Income tax benefits
|
1.2
|
|
|
2.1
|
|
|
3.6
|
|
|
4.0
|
|
|
0.7
|
|
|
1.1
|
|
|
2.1
|
|
|
2.2
|
|
|
0.5
|
|
|
0.9
|
|
|
1.4
|
|
|
1.7
|
|
|
Performance Shares
|
|
Performance Units
|
||
Nonvested awards, January 1
|
223,511
|
|
|
71,737
|
|
Granted
|
74,163
|
|
|
19,840
|
|
Vested
|
(90,806
|
)
|
|
(31,910
|
)
|
Forfeited
|
(905
|
)
|
|
(1,906
|
)
|
Nonvested awards, September 30
|
205,963
|
|
|
57,761
|
|
|
Performance Shares
|
|
Performance Units
|
||||
Performance awards vested
|
90,806
|
|
|
31,910
|
|
||
Percentage of target number of performance awards
|
137.5
|
%
|
|
137.5
|
%
|
||
Aggregate payout value (in millions)
|
|
$5.3
|
|
|
|
$1.4
|
|
Payout - cash (in millions)
|
|
$4.9
|
|
|
|
$1.4
|
|
Payout - common stock shares issued
|
5,078
|
|
|
N/A
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||||||||||
|
2018 Grant
|
|
2017 Grant
|
|
2016 Grant
|
|
2018 Grant
|
|
2017 Grant
|
|
2016 Grant
|
||||||||||||
Nonvested awards at target
|
73,258
|
|
|
65,350
|
|
|
67,355
|
|
|
19,196
|
|
|
18,062
|
|
|
20,503
|
|
||||||
Estimated payout percentage based on performance criteria
|
85
|
%
|
|
105
|
%
|
|
143
|
%
|
|
85
|
%
|
|
105
|
%
|
|
143
|
%
|
||||||
Fair values of each nonvested award
|
|
$36.18
|
|
|
|
$44.70
|
|
|
|
$60.88
|
|
|
|
$36.18
|
|
|
|
$44.70
|
|
|
|
$60.88
|
|
|
22
|
|
Nonvested units, January 1
|
113,749
|
|
Granted
|
63,568
|
|
Forfeited
|
(775
|
)
|
Nonvested units, September 30
|
176,542
|
|
Alliant Energy
|
September 30, 2018
|
|
December 31, 2017
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Money market fund investments
|
|
$228.0
|
|
|
|
$228.0
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$228.0
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
Derivatives
|
48.0
|
|
|
—
|
|
|
16.5
|
|
|
31.5
|
|
|
48.0
|
|
|
25.1
|
|
|
—
|
|
|
4.1
|
|
|
21.0
|
|
|
25.1
|
|
||||||||||
Deferred proceeds
|
243.7
|
|
|
—
|
|
|
—
|
|
|
243.7
|
|
|
243.7
|
|
|
222.1
|
|
|
—
|
|
|
—
|
|
|
222.1
|
|
|
222.1
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
22.0
|
|
|
—
|
|
|
14.7
|
|
|
7.3
|
|
|
22.0
|
|
|
41.7
|
|
|
—
|
|
|
8.5
|
|
|
33.2
|
|
|
41.7
|
|
||||||||||
Long-term debt (incl. current maturities)
|
5,754.3
|
|
|
—
|
|
|
6,057.8
|
|
|
2.5
|
|
|
6,060.3
|
|
|
4,866.3
|
|
|
—
|
|
|
5,444.6
|
|
|
2.9
|
|
|
5,447.5
|
|
||||||||||
Cumulative preferred stock of IPL
|
200.0
|
|
|
200.0
|
|
|
—
|
|
|
—
|
|
|
200.0
|
|
|
200.0
|
|
|
203.8
|
|
|
—
|
|
|
—
|
|
|
203.8
|
|
IPL
|
September 30, 2018
|
|
December 31, 2017
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Money market fund investments
|
|
$228.0
|
|
|
|
$228.0
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$228.0
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
Derivatives
|
29.1
|
|
|
—
|
|
|
6.7
|
|
|
22.4
|
|
|
29.1
|
|
|
17.1
|
|
|
—
|
|
|
2.0
|
|
|
15.1
|
|
|
17.1
|
|
||||||||||
Deferred proceeds
|
243.7
|
|
|
—
|
|
|
—
|
|
|
243.7
|
|
|
243.7
|
|
|
222.1
|
|
|
—
|
|
|
—
|
|
|
222.1
|
|
|
222.1
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
9.7
|
|
|
—
|
|
|
5.5
|
|
|
4.2
|
|
|
9.7
|
|
|
19.4
|
|
|
—
|
|
|
2.9
|
|
|
16.5
|
|
|
19.4
|
|
||||||||||
Long-term debt (incl. current maturities)
|
2,801.8
|
|
|
—
|
|
|
2,916.2
|
|
|
—
|
|
|
2,916.2
|
|
|
2,406.0
|
|
|
—
|
|
|
2,665.7
|
|
|
—
|
|
|
2,665.7
|
|
||||||||||
Cumulative preferred stock
|
200.0
|
|
|
200.0
|
|
|
—
|
|
|
—
|
|
|
200.0
|
|
|
200.0
|
|
|
203.8
|
|
|
—
|
|
|
—
|
|
|
203.8
|
|
WPL
|
September 30, 2018
|
|
December 31, 2017
|
||||||||||||||||||||||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||||||||||||||||||||||
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
|
Carrying
|
|
Level
|
|
Level
|
|
Level
|
|
|
||||||||||||||||||||
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
|
Amount
|
|
1
|
|
2
|
|
3
|
|
Total
|
||||||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
|
$18.9
|
|
|
|
$—
|
|
|
|
$9.8
|
|
|
|
$9.1
|
|
|
|
$18.9
|
|
|
|
$8.0
|
|
|
|
$—
|
|
|
|
$2.1
|
|
|
|
$5.9
|
|
|
|
$8.0
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
12.3
|
|
|
—
|
|
|
9.2
|
|
|
3.1
|
|
|
12.3
|
|
|
22.3
|
|
|
—
|
|
|
5.6
|
|
|
16.7
|
|
|
22.3
|
|
||||||||||
Long-term debt (incl. current maturities)
|
1,834.5
|
|
|
—
|
|
|
2,020.9
|
|
|
—
|
|
|
2,020.9
|
|
|
1,833.4
|
|
|
—
|
|
|
2,147.9
|
|
|
—
|
|
|
2,147.9
|
|
|
23
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended September 30
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Beginning balance, July 1
|
|
($10.7
|
)
|
|
|
$9.2
|
|
|
|
$208.3
|
|
|
|
$170.0
|
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
25.7
|
|
|
(4.3
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
15.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.2
|
)
|
|
(0.1
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(6.2
|
)
|
|
(8.5
|
)
|
|
35.4
|
|
|
(54.7
|
)
|
||||
Ending balance, September 30
|
|
$24.2
|
|
|
|
($3.7
|
)
|
|
|
$243.7
|
|
|
|
$115.3
|
|
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
|
|
$26.1
|
|
|
|
($4.2
|
)
|
|
|
$—
|
|
|
|
$—
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Nine Months Ended September 30
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Beginning balance, January 1
|
|
($12.2
|
)
|
|
|
$8.7
|
|
|
|
$222.1
|
|
|
|
$211.1
|
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
15.7
|
|
|
(31.3
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
15.6
|
|
|
12.2
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
26.7
|
|
|
28.3
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.2
|
)
|
|
(0.3
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(21.4
|
)
|
|
(21.3
|
)
|
|
21.6
|
|
|
(95.8
|
)
|
||||
Ending balance, September 30
|
|
$24.2
|
|
|
|
($3.7
|
)
|
|
|
$243.7
|
|
|
|
$115.3
|
|
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
|
|
$16.5
|
|
|
|
($29.4
|
)
|
|
|
$—
|
|
|
|
$—
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Three Months Ended September 30
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Beginning balance, July 1
|
|
($4.1
|
)
|
|
|
$17.1
|
|
|
|
$208.3
|
|
|
|
$170.0
|
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
16.8
|
|
|
(4.4
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
10.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.1
|
)
|
|
(0.1
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(4.9
|
)
|
|
(7.3
|
)
|
|
35.4
|
|
|
(54.7
|
)
|
||||
Ending balance, September 30
|
|
$18.2
|
|
|
|
$5.3
|
|
|
|
$243.7
|
|
|
|
$115.3
|
|
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
|
|
|
|
($4.5
|
)
|
|
|
$—
|
|
|
|
$—
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
Nine Months Ended September 30
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Beginning balance, January 1
|
|
($1.4
|
)
|
|
|
$10.1
|
|
|
|
$222.1
|
|
|
|
$211.1
|
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
7.6
|
|
|
(13.9
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3
|
10.5
|
|
|
3.1
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
19.3
|
|
|
24.6
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.1
|
)
|
|
(0.2
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (a)
|
(17.7
|
)
|
|
(18.4
|
)
|
|
21.6
|
|
|
(95.8
|
)
|
||||
Ending balance, September 30
|
|
$18.2
|
|
|
|
$5.3
|
|
|
|
$243.7
|
|
|
|
$115.3
|
|
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
|
|
$7.9
|
|
|
|
($12.6
|
)
|
|
|
$—
|
|
|
|
$—
|
|
|
24
|
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
Three Months Ended September 30
|
2018
|
|
2017
|
||||
Beginning balance, July 1
|
|
($6.6
|
)
|
|
|
($7.9
|
)
|
Total net gains included in changes in net assets (realized/unrealized)
|
8.9
|
|
|
0.1
|
|
||
Transfers out of Level 3
|
5.1
|
|
|
—
|
|
||
Sales
|
(0.1
|
)
|
|
—
|
|
||
Settlements
|
(1.3
|
)
|
|
(1.2
|
)
|
||
Ending balance, September 30
|
|
$6.0
|
|
|
|
($9.0
|
)
|
The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30
|
|
$9.3
|
|
|
|
$0.3
|
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
Nine Months Ended September 30
|
2018
|
|
2017
|
||||
Beginning balance, January 1
|
|
($10.8
|
)
|
|
|
($1.4
|
)
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
8.1
|
|
|
(17.4
|
)
|
||
Transfers out of Level 3
|
5.1
|
|
|
9.1
|
|
||
Purchases
|
7.4
|
|
|
3.7
|
|
||
Sales
|
(0.1
|
)
|
|
(0.1
|
)
|
||
Settlements
|
(3.7
|
)
|
|
(2.9
|
)
|
||
Ending balance, September 30
|
|
$6.0
|
|
|
|
($9.0
|
)
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
|
|
$8.6
|
|
|
|
($16.8
|
)
|
(a)
|
Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash amounts received from the receivables sold.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
|
Excluding FTRs
|
|
FTRs
|
||||||||||||
September 30, 2018
|
|
$7.9
|
|
|
|
$16.3
|
|
|
|
$5.4
|
|
|
|
$12.8
|
|
|
|
$2.5
|
|
|
|
$3.5
|
|
December 31, 2017
|
(23.5
|
)
|
|
11.3
|
|
|
(11.5
|
)
|
|
10.1
|
|
|
(12.0
|
)
|
|
1.2
|
|
|
Electricity
|
|
FTRs
|
|
Natural Gas
|
|
Coal
|
|
Diesel Fuel
|
|||||||||||||||
|
MWhs
|
|
Years
|
|
MWhs
|
|
Years
|
|
Dths
|
|
Years
|
|
Tons
|
|
Years
|
|
Gallons
|
|
Years
|
|||||
Alliant Energy
|
331
|
|
|
2018
|
|
16,553
|
|
|
2018-2019
|
|
179,275
|
|
|
2018-2026
|
|
11,922
|
|
|
2018-2021
|
|
3,906
|
|
|
2018-2019
|
IPL
|
—
|
|
|
—
|
|
9,220
|
|
|
2018-2019
|
|
83,485
|
|
|
2018-2026
|
|
4,849
|
|
|
2018-2021
|
|
—
|
|
|
—
|
WPL
|
331
|
|
|
2018
|
|
7,333
|
|
|
2018-2019
|
|
95,790
|
|
|
2018-2026
|
|
7,073
|
|
|
2018-2021
|
|
3,906
|
|
|
2018-2019
|
|
25
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
September 30,
2018 |
|
December 31,
2017 |
|
September 30,
2018 |
|
December 31,
2017 |
|
September 30,
2018 |
|
December 31,
2017 |
||||||||||||
Current derivative assets
|
|
$39.7
|
|
|
|
$21.1
|
|
|
|
$26.2
|
|
|
|
$15.8
|
|
|
|
$13.5
|
|
|
|
$5.3
|
|
Non-current derivative assets
|
8.3
|
|
|
4.0
|
|
|
2.9
|
|
|
1.3
|
|
|
5.4
|
|
|
2.7
|
|
||||||
Current derivative liabilities
|
7.2
|
|
|
18.7
|
|
|
3.2
|
|
|
5.0
|
|
|
4.0
|
|
|
13.7
|
|
||||||
Non-current derivative liabilities
|
14.8
|
|
|
23.0
|
|
|
6.5
|
|
|
14.4
|
|
|
8.3
|
|
|
8.6
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Purchased power (a)
|
|
$1,089
|
|
|
|
$1,063
|
|
|
|
$26
|
|
Natural gas
|
921
|
|
|
394
|
|
|
527
|
|
|||
Coal (b)
|
169
|
|
|
84
|
|
|
85
|
|
|||
Other (c)
|
43
|
|
|
24
|
|
|
5
|
|
|||
|
|
$2,222
|
|
|
|
$1,565
|
|
|
|
$643
|
|
(a)
|
Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Alliant Energy’s and IPL’s amounts include minimum future commitments related to IPL’s purchase of capacity and the resulting energy from DAEC through December 2025. In July 2018, IPL entered into an amendment to shorten the term of the DAEC PPA by
five
years in exchange for a
$110 million
buyout payment by IPL in September 2020, which is not included in Alliant Energy’s and IPL’s amounts. The amendment to the DAEC PPA is contingent upon IUB approval of IPL’s July 2018 application regarding recovery of the buyout payment.
|
(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, 2018
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, 2018
.
|
|
26
|
|
|
Alliant Energy
|
|
IPL
|
||||||||
Range of estimated future costs
|
|
$11
|
|
-
|
$29
|
|
|
$9
|
|
-
|
$25
|
Current and non-current environmental liabilities
|
16
|
|
13
|
|
27
|
|
|
|
|
|
|
|
|
|
|
ATC Holdings,
|
|
Alliant
|
||||||||||||
|
Utility
|
|
Non-Utility,
|
|
Energy
|
||||||||||||||||||
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
Three Months Ended September 30, 2018
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Revenues
|
|
$861.2
|
|
|
|
$44.8
|
|
|
|
$12.3
|
|
|
|
$918.3
|
|
|
|
$10.3
|
|
|
|
$928.6
|
|
Operating income (loss)
|
248.7
|
|
|
(2.0
|
)
|
|
0.6
|
|
|
247.3
|
|
|
8.8
|
|
|
256.1
|
|
||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
202.8
|
|
|
2.7
|
|
|
205.5
|
|
|||||||||
Three Months Ended September 30, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Revenues
|
|
$840.6
|
|
|
|
$45.8
|
|
|
|
$11.2
|
|
|
|
$897.6
|
|
|
|
$9.3
|
|
|
|
$906.9
|
|
Operating income (loss)
|
236.7
|
|
|
(1.7
|
)
|
|
(7.7
|
)
|
|
227.3
|
|
|
9.0
|
|
|
236.3
|
|
||||||
Net income (loss) attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
170.2
|
|
|
(1.4
|
)
|
|
168.8
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
ATC Holdings,
|
|
Alliant
|
||||||||||||
|
Utility
|
|
Non-Utility,
|
|
Energy
|
||||||||||||||||||
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
|
(in millions)
|
||||||||||||||||||||||
Nine Months Ended September 30, 2018
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Revenues
|
|
$2,296.2
|
|
|
|
$299.0
|
|
|
|
$36.2
|
|
|
|
$2,631.4
|
|
|
|
$29.6
|
|
|
|
$2,661.0
|
|
Operating income
|
510.2
|
|
|
34.9
|
|
|
2.9
|
|
|
548.0
|
|
|
25.0
|
|
|
573.0
|
|
||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
395.0
|
|
|
31.8
|
|
|
426.8
|
|
|||||||||
Nine Months Ended September 30, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Revenues
|
|
$2,199.1
|
|
|
|
$262.7
|
|
|
|
$34.4
|
|
|
|
$2,496.2
|
|
|
|
$29.9
|
|
|
|
$2,526.1
|
|
Operating income (loss)
|
486.9
|
|
|
31.3
|
|
|
(6.7
|
)
|
|
511.5
|
|
|
25.7
|
|
|
537.2
|
|
||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Income from continuing operations, net of tax
|
|
|
|
|
|
|
333.8
|
|
|
28.3
|
|
|
362.1
|
|
|||||||||
Income from discontinued operations, net of tax
|
|
|
|
|
|
|
—
|
|
|
1.4
|
|
|
1.4
|
|
|||||||||
Net income
|
|
|
|
|
|
|
333.8
|
|
|
29.7
|
|
|
363.5
|
|
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Three Months Ended September 30, 2018
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$509.2
|
|
|
|
$26.7
|
|
|
|
$11.7
|
|
|
|
$547.6
|
|
Operating income (loss)
|
144.7
|
|
|
(3.1
|
)
|
|
1.5
|
|
|
143.1
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
126.5
|
|
|||||||
Three Months Ended September 30, 2017
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$489.0
|
|
|
|
$27.4
|
|
|
|
$11.0
|
|
|
|
$527.4
|
|
Operating income (loss)
|
140.0
|
|
|
(1.8
|
)
|
|
(4.4
|
)
|
|
133.8
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
120.4
|
|
|||||||
Nine Months Ended September 30, 2018
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$1,337.0
|
|
|
|
$177.0
|
|
|
|
$34.2
|
|
|
|
$1,548.2
|
|
Operating income
|
275.7
|
|
|
16.3
|
|
|
4.4
|
|
|
296.4
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
224.9
|
|
|||||||
Nine Months Ended September 30, 2017
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$1,217.6
|
|
|
|
$147.2
|
|
|
|
$33.3
|
|
|
|
$1,398.1
|
|
Operating income (loss)
|
239.2
|
|
|
15.4
|
|
|
(1.4
|
)
|
|
253.2
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
200.4
|
|
|
29
|
|
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
|
(in millions)
|
||||||||||||||
Three Months Ended September 30, 2018
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$352.0
|
|
|
|
$18.1
|
|
|
|
$0.6
|
|
|
|
$370.7
|
|
Operating income (loss)
|
104.0
|
|
|
1.1
|
|
|
(0.9
|
)
|
|
104.2
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
76.3
|
|
|||||||
Three Months Ended September 30, 2017
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$351.6
|
|
|
|
$18.4
|
|
|
|
$0.2
|
|
|
|
$370.2
|
|
Operating income (loss)
|
96.7
|
|
|
0.1
|
|
|
(3.3
|
)
|
|
93.5
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
49.8
|
|
|||||||
Nine Months Ended September 30, 2018
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$959.2
|
|
|
|
$122.0
|
|
|
|
$2.0
|
|
|
|
$1,083.2
|
|
Operating income (loss)
|
234.5
|
|
|
18.6
|
|
|
(1.5
|
)
|
|
251.6
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
170.1
|
|
|||||||
Nine Months Ended September 30, 2017
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$981.5
|
|
|
|
$115.5
|
|
|
|
$1.1
|
|
|
|
$1,098.1
|
|
Operating income (loss)
|
247.7
|
|
|
15.9
|
|
|
(5.3
|
)
|
|
258.3
|
|
||||
Earnings available for common stock
|
|
|
|
|
|
|
133.4
|
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||||||
Corporate Services billings
|
|
$43
|
|
|
|
$48
|
|
|
|
$128
|
|
|
|
$130
|
|
|
|
$33
|
|
|
|
$37
|
|
|
|
$100
|
|
|
|
$100
|
|
Sales credited
|
11
|
|
|
8
|
|
|
34
|
|
|
15
|
|
|
7
|
|
|
6
|
|
|
16
|
|
|
8
|
|
||||||||
Purchases billed
|
95
|
|
|
109
|
|
|
268
|
|
|
271
|
|
|
19
|
|
|
32
|
|
|
56
|
|
|
99
|
|
|
IPL
|
|
WPL
|
||||
|
September 30, 2018
|
|
December 31, 2017
|
|
September 30, 2018
|
|
December 31, 2017
|
Net payables to Corporate Services
|
$109
|
|
$114
|
|
$65
|
|
$61
|
|
Three Months
|
|
Nine Months
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
ATC billings to WPL
|
|
$26
|
|
|
|
$26
|
|
|
|
$79
|
|
|
|
$79
|
|
WPL billings to ATC
|
3
|
|
|
2
|
|
|
8
|
|
|
8
|
|
|
30
|
|
|
2018
|
|
2017
|
||||||||||||
|
Income (Loss)
|
|
EPS
|
|
Income (Loss)
|
|
EPS
|
||||||||
Utilities and Corporate Services
|
|
$206.3
|
|
|
|
$0.88
|
|
|
|
$173.6
|
|
|
|
$0.75
|
|
ATC Holdings
|
6.3
|
|
|
0.03
|
|
|
6.1
|
|
|
0.03
|
|
||||
Non-utility and Parent
|
(7.1
|
)
|
|
(0.04
|
)
|
|
(10.9
|
)
|
|
(0.05
|
)
|
||||
Alliant Energy Consolidated
|
|
$205.5
|
|
|
|
$0.87
|
|
|
|
$168.8
|
|
|
|
$0.73
|
|
|
31
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Three Months
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Operating income
|
|
$256.1
|
|
|
|
$236.3
|
|
|
|
$143.1
|
|
|
|
$133.8
|
|
|
|
$104.2
|
|
|
|
$93.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Electric utility revenues
|
|
$861.2
|
|
|
|
$840.6
|
|
|
|
$509.2
|
|
|
|
$489.0
|
|
|
|
$352.0
|
|
|
|
$351.6
|
|
Electric production fuel and purchased power expenses
|
(227.8
|
)
|
|
(222.6
|
)
|
|
(122.5
|
)
|
|
(122.5
|
)
|
|
(105.3
|
)
|
|
(100.1
|
)
|
||||||
Electric transmission service expense
|
(129.1
|
)
|
|
(121.0
|
)
|
|
(92.8
|
)
|
|
(78.2
|
)
|
|
(36.3
|
)
|
|
(42.8
|
)
|
||||||
Utility Electric Margin (non-GAAP)
|
504.3
|
|
|
497.0
|
|
|
293.9
|
|
|
288.3
|
|
|
210.4
|
|
|
208.7
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Gas utility revenues
|
44.8
|
|
|
45.8
|
|
|
26.7
|
|
|
27.4
|
|
|
18.1
|
|
|
18.4
|
|
||||||
Cost of gas sold
|
(11.3
|
)
|
|
(15.0
|
)
|
|
(6.4
|
)
|
|
(9.9
|
)
|
|
(4.9
|
)
|
|
(5.1
|
)
|
||||||
Utility Gas Margin (non-GAAP)
|
33.5
|
|
|
30.8
|
|
|
20.3
|
|
|
17.5
|
|
|
13.2
|
|
|
13.3
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Other utility revenues
|
12.3
|
|
|
11.2
|
|
|
11.7
|
|
|
11.0
|
|
|
0.6
|
|
|
0.2
|
|
||||||
Non-utility revenues
|
10.3
|
|
|
9.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Other operation and maintenance expenses
|
(148.4
|
)
|
|
(164.3
|
)
|
|
(94.6
|
)
|
|
(102.4
|
)
|
|
(54.2
|
)
|
|
(63.3
|
)
|
||||||
Depreciation and amortization expenses
|
(129.0
|
)
|
|
(120.7
|
)
|
|
(73.9
|
)
|
|
(66.2
|
)
|
|
(54.1
|
)
|
|
(53.6
|
)
|
||||||
Taxes other than income tax expense
|
(26.9
|
)
|
|
(27.0
|
)
|
|
(14.3
|
)
|
|
(14.4
|
)
|
|
(11.7
|
)
|
|
(11.8
|
)
|
||||||
Operating income
|
|
$256.1
|
|
|
|
$236.3
|
|
|
|
$143.1
|
|
|
|
$133.8
|
|
|
|
$104.2
|
|
|
|
$93.5
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
Nine Months
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Operating income
|
|
$573.0
|
|
|
|
$537.2
|
|
|
|
$296.4
|
|
|
|
$253.2
|
|
|
|
$251.6
|
|
|
|
$258.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Electric utility revenues
|
|
$2,296.2
|
|
|
|
$2,199.1
|
|
|
|
$1,337.0
|
|
|
|
$1,217.6
|
|
|
|
$959.2
|
|
|
|
$981.5
|
|
Electric production fuel and purchased power expenses
|
(639.5
|
)
|
|
(614.7
|
)
|
|
(354.0
|
)
|
|
(330.0
|
)
|
|
(285.5
|
)
|
|
(284.7
|
)
|
||||||
Electric transmission service expense
|
(375.2
|
)
|
|
(363.3
|
)
|
|
(268.0
|
)
|
|
(235.0
|
)
|
|
(107.2
|
)
|
|
(128.3
|
)
|
||||||
Utility Electric Margin (non-GAAP)
|
1,281.5
|
|
|
1,221.1
|
|
|
715.0
|
|
|
652.6
|
|
|
566.5
|
|
|
568.5
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Gas utility revenues
|
299.0
|
|
|
262.7
|
|
|
177.0
|
|
|
147.2
|
|
|
122.0
|
|
|
115.5
|
|
||||||
Cost of gas sold
|
(150.0
|
)
|
|
(135.5
|
)
|
|
(83.8
|
)
|
|
(74.6
|
)
|
|
(66.2
|
)
|
|
(60.9
|
)
|
||||||
Utility Gas Margin (non-GAAP)
|
149.0
|
|
|
127.2
|
|
|
93.2
|
|
|
72.6
|
|
|
55.8
|
|
|
54.6
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Other utility revenues
|
36.2
|
|
|
34.4
|
|
|
34.2
|
|
|
33.3
|
|
|
2.0
|
|
|
1.1
|
|
||||||
Non-utility revenues
|
29.6
|
|
|
29.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Other operation and maintenance expenses
|
(468.8
|
)
|
|
(453.6
|
)
|
|
(297.1
|
)
|
|
(283.2
|
)
|
|
(172.8
|
)
|
|
(171.8
|
)
|
||||||
Depreciation and amortization expenses
|
(376.4
|
)
|
|
(342.7
|
)
|
|
(209.2
|
)
|
|
(181.0
|
)
|
|
(164.2
|
)
|
|
(158.8
|
)
|
||||||
Taxes other than income tax expense
|
(78.1
|
)
|
|
(79.1
|
)
|
|
(39.7
|
)
|
|
(41.1
|
)
|
|
(35.7
|
)
|
|
(35.3
|
)
|
||||||
Operating income
|
|
$573.0
|
|
|
|
$537.2
|
|
|
|
$296.4
|
|
|
|
$253.2
|
|
|
|
$251.6
|
|
|
|
$258.3
|
|
|
32
|
|
Alliant Energy
|
Electric
|
|
Gas
|
||||||||||||||||||||||||
|
Revenues
|
|
MWhs Sold
|
|
Revenues
|
|
Dths Sold
|
||||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Three Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$776.1
|
|
|
|
$745.7
|
|
|
6,892
|
|
|
6,722
|
|
|
|
$35.8
|
|
|
|
$37.4
|
|
|
3,867
|
|
|
3,744
|
|
Sales for resale
|
70.2
|
|
|
75.6
|
|
|
1,675
|
|
|
1,390
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
14.9
|
|
|
19.3
|
|
|
19
|
|
|
22
|
|
|
9.0
|
|
|
8.4
|
|
|
23,213
|
|
|
19,787
|
|
||||
|
|
$861.2
|
|
|
|
$840.6
|
|
|
8,586
|
|
|
8,134
|
|
|
|
$44.8
|
|
|
|
$45.8
|
|
|
27,080
|
|
|
23,531
|
|
Nine Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$2,057.4
|
|
|
|
$1,950.4
|
|
|
19,399
|
|
|
18,851
|
|
|
|
$268.8
|
|
|
|
$236.9
|
|
|
35,678
|
|
|
30,971
|
|
Sales for resale
|
198.8
|
|
|
204.8
|
|
|
4,557
|
|
|
3,564
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
40.0
|
|
|
43.9
|
|
|
67
|
|
|
72
|
|
|
30.2
|
|
|
25.8
|
|
|
67,886
|
|
|
54,849
|
|
||||
|
|
$2,296.2
|
|
|
|
$2,199.1
|
|
|
24,023
|
|
|
22,487
|
|
|
|
$299.0
|
|
|
|
$262.7
|
|
|
103,564
|
|
|
85,820
|
|
IPL
|
Electric
|
|
Gas
|
||||||||||||||||||||||||
|
Revenues
|
|
MWhs Sold
|
|
Revenues
|
|
Dths Sold
|
||||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Three Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$467.5
|
|
|
|
$443.3
|
|
|
3,838
|
|
|
3,784
|
|
|
|
$21.0
|
|
|
|
$22.0
|
|
|
2,060
|
|
|
2,189
|
|
Sales for resale
|
31.0
|
|
|
33.6
|
|
|
917
|
|
|
692
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
10.7
|
|
|
12.1
|
|
|
10
|
|
|
9
|
|
|
5.7
|
|
|
5.4
|
|
|
8,994
|
|
|
9,374
|
|
||||
|
|
$509.2
|
|
|
|
$489.0
|
|
|
4,765
|
|
|
4,485
|
|
|
|
$26.7
|
|
|
|
$27.4
|
|
|
11,054
|
|
|
11,563
|
|
Nine Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$1,218.4
|
|
|
|
$1,105.5
|
|
|
11,060
|
|
|
10,761
|
|
|
|
$156.8
|
|
|
|
$129.9
|
|
|
18,838
|
|
|
16,548
|
|
Sales for resale
|
91.6
|
|
|
83.5
|
|
|
2,444
|
|
|
1,527
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
27.0
|
|
|
28.6
|
|
|
28
|
|
|
30
|
|
|
20.2
|
|
|
17.3
|
|
|
28,893
|
|
|
29,092
|
|
||||
|
|
$1,337.0
|
|
|
|
$1,217.6
|
|
|
13,532
|
|
|
12,318
|
|
|
|
$177.0
|
|
|
|
$147.2
|
|
|
47,731
|
|
|
45,640
|
|
WPL
|
Electric
|
|
Gas
|
||||||||||||||||||||||||
|
Revenues
|
|
MWhs Sold
|
|
Revenues
|
|
Dths Sold
|
||||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Three Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$308.6
|
|
|
|
$302.4
|
|
|
3,054
|
|
|
2,938
|
|
|
|
$14.8
|
|
|
|
$15.4
|
|
|
1,807
|
|
|
1,555
|
|
Sales for resale
|
39.2
|
|
|
42.0
|
|
|
758
|
|
|
698
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
4.2
|
|
|
7.2
|
|
|
9
|
|
|
13
|
|
|
3.3
|
|
|
3.0
|
|
|
14,219
|
|
|
10,413
|
|
||||
|
|
$352.0
|
|
|
|
$351.6
|
|
|
3,821
|
|
|
3,649
|
|
|
|
$18.1
|
|
|
|
$18.4
|
|
|
16,026
|
|
|
11,968
|
|
Nine Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$839.0
|
|
|
|
$844.9
|
|
|
8,339
|
|
|
8,090
|
|
|
|
$112.0
|
|
|
|
$107.0
|
|
|
16,840
|
|
|
14,423
|
|
Sales for resale
|
107.2
|
|
|
121.3
|
|
|
2,113
|
|
|
2,037
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Transportation/Other
|
13.0
|
|
|
15.3
|
|
|
39
|
|
|
42
|
|
|
10.0
|
|
|
|
$8.5
|
|
|
38,993
|
|
|
25,757
|
|
|||
|
|
$959.2
|
|
|
|
$981.5
|
|
|
10,491
|
|
|
10,169
|
|
|
|
$122.0
|
|
|
|
$115.5
|
|
|
55,833
|
|
|
40,180
|
|
|
2018
|
|
2017
|
|
Resulting Impact in 2018 Compared to 2017
|
First quarter (HDD)
|
2% colder than normal
|
|
13% warmer than normal
|
|
Increase in IPL’s and WPL’s electric and gas sales due to higher demand by customers for heating
|
Second quarter (CDD)
|
63% warmer than normal
|
|
2% cooler - 13% warmer than normal
|
|
Increase in IPL’s and WPL’s electric sales due to higher demand by customers for air cooling
|
Third quarter (CDD)
|
10% warmer than normal
|
|
7% - 14% cooler than normal
|
|
Increase in IPL’s and WPL’s electric sales due to higher demand by customers for air cooling
|
|
33
|
|
|
Electric Margins
|
|
Gas Margins
|
||||||||||||||||||||||||||||||||||||||||||||
|
Three Months
|
|
Nine Months
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||||||||||||||||||||||
|
2018
|
|
2017
|
|
Change
|
|
2018
|
|
2017
|
|
Change
|
|
2018
|
|
2017
|
|
Change
|
|
2018
|
|
2017
|
|
Change
|
||||||||||||||||||||||||
IPL
|
|
$4
|
|
|
|
($4
|
)
|
|
|
$8
|
|
|
|
$18
|
|
|
|
($8
|
)
|
|
|
$26
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$1
|
|
|
|
($3
|
)
|
|
|
$4
|
|
WPL
|
3
|
|
|
(4
|
)
|
|
7
|
|
|
10
|
|
|
(9
|
)
|
|
19
|
|
|
—
|
|
|
(1
|
)
|
|
1
|
|
|
1
|
|
|
(3
|
)
|
|
4
|
|
||||||||||||
Total Alliant Energy
|
|
$7
|
|
|
|
($8
|
)
|
|
|
$15
|
|
|
|
$28
|
|
|
|
($17
|
)
|
|
|
$45
|
|
|
|
$—
|
|
|
|
($1
|
)
|
|
|
$1
|
|
|
|
$2
|
|
|
|
($6
|
)
|
|
|
$8
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Estimated changes in sales volumes caused by temperatures (Refer to “Temperatures” above for details)
|
|
$15
|
|
|
|
$8
|
|
|
|
$7
|
|
|
|
$45
|
|
|
|
$26
|
|
|
|
$19
|
|
Higher revenues at IPL due to changes in electric tax benefit rider credits on customers’ bills
|
12
|
|
|
12
|
|
|
—
|
|
|
40
|
|
|
40
|
|
|
—
|
|
||||||
Higher margins at IPL from the impact of its 2016 Test Year retail electric base rate increases (Refer to
Note 2
for details)
|
8
|
|
|
8
|
|
|
—
|
|
|
36
|
|
|
36
|
|
|
—
|
|
||||||
Lower transmission cost recovery amortization at WPL (a)
|
7
|
|
|
—
|
|
|
7
|
|
|
20
|
|
|
—
|
|
|
20
|
|
||||||
Changes in electric fuel-related costs, net of recoveries at WPL (b)
|
3
|
|
|
—
|
|
|
3
|
|
|
11
|
|
|
—
|
|
|
11
|
|
||||||
Decrease in revenues due to deferral of higher taxes collected to be returned to customers (deferral is offset by lower tax expense from the effects of Federal Tax Reform) (Refer to
Note 2
for details)
|
(31
|
)
|
|
(20
|
)
|
|
(11
|
)
|
|
(65
|
)
|
|
(34
|
)
|
|
(31
|
)
|
||||||
Lower wholesale margins at WPL primarily due to the expiration of wholesale power supply agreements in 2017
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|
(11
|
)
|
|
—
|
|
|
(11
|
)
|
||||||
Other (primarily includes reduction in WPL’s margins due to its earnings sharing mechanism (Refer to
Note 2
for details))
|
(6
|
)
|
|
(2
|
)
|
|
(3
|
)
|
|
(16
|
)
|
|
(6
|
)
|
|
(10
|
)
|
||||||
|
|
$7
|
|
|
|
$6
|
|
|
|
$2
|
|
|
|
$60
|
|
|
|
$62
|
|
|
|
($2
|
)
|
(a)
|
The December 2016 PSCW order for WPL’s 2017/2018 Test Period electric and gas base rate review authorized changes in electric transmission cost recovery amortizations for 2018.
|
(b)
|
WPL estimates the decrease to electric margins from amounts within the PSCW approved bandwidth of plus or minus 2% of forecasted fuel-related expenses was approximately $6 million for the
nine months ended September 30
,
2017
. The impact to electric margins from amounts within the bandwidth was an increase of approximately $3 million and $5 million for the
three and nine months ended September 30, 2018
, respectively.
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Higher revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (mostly offset by changes in energy efficiency expense included in other operation and maintenance expenses)
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$10
|
|
|
|
$10
|
|
|
|
$—
|
|
Estimated changes in sales volumes caused by temperatures (Refer to “Temperatures” above for details)
|
1
|
|
|
—
|
|
|
1
|
|
|
8
|
|
|
4
|
|
|
4
|
|
||||||
Higher margins at IPL from the impact of its 2017 Test Year interim retail gas base rate increase (Refer to
Note 2
for details)
|
2
|
|
|
2
|
|
|
—
|
|
|
3
|
|
|
3
|
|
|
—
|
|
||||||
Other
|
—
|
|
|
1
|
|
|
(1
|
)
|
|
1
|
|
|
4
|
|
|
(3
|
)
|
||||||
|
|
$3
|
|
|
|
$3
|
|
|
|
$—
|
|
|
|
$22
|
|
|
|
$21
|
|
|
|
$1
|
|
|
34
|
|
|
Three Months
|
|
Nine Months
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Higher performance compensation expense
|
|
($1
|
)
|
|
|
($1
|
)
|
|
|
($1
|
)
|
|
|
($10
|
)
|
|
|
($6
|
)
|
|
|
($4
|
)
|
Higher energy efficiency expense at IPL (primarily offset by gas revenues)
|
(1
|
)
|
|
(1
|
)
|
|
—
|
|
|
(9
|
)
|
|
(9
|
)
|
|
—
|
|
||||||
Lower (higher) generation operation and maintenance expenses
|
2
|
|
|
1
|
|
|
1
|
|
|
(8
|
)
|
|
(2
|
)
|
|
(6
|
)
|
||||||
Lower energy efficiency cost recovery amortizations at WPL
|
3
|
|
|
—
|
|
|
3
|
|
|
9
|
|
|
—
|
|
|
9
|
|
||||||
Charges related to cancelled software projects in 2017
|
6
|
|
|
3
|
|
|
3
|
|
|
6
|
|
|
3
|
|
|
3
|
|
||||||
Write-down of regulatory assets in 2017 due to the IPL electric rate review settlement
|
4
|
|
|
4
|
|
|
—
|
|
|
4
|
|
|
4
|
|
|
—
|
|
||||||
Other
|
3
|
|
|
2
|
|
|
3
|
|
|
(7
|
)
|
|
(4
|
)
|
|
(3
|
)
|
||||||
|
|
$16
|
|
|
|
$8
|
|
|
|
$9
|
|
|
|
($15
|
)
|
|
|
($14
|
)
|
|
|
($1
|
)
|
|
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
|
|
($9
|
)
|
|
|
($3
|
)
|
|
|
($1
|
)
|
|
|
($25
|
)
|
|
|
($7
|
)
|
|
|
($4
|
)
|
Higher AFUDC primarily due to increased construction work in progress balances related to new wind generation and WPL’s West Riverside Energy Center
|
9
|
|
|
6
|
|
|
3
|
|
|
15
|
|
|
3
|
|
|
12
|
|
||||||
Higher equity income primarily related to increased earnings from the non-utility wind farm in Oklahoma (Refer to
Note 5
for details)
|
—
|
|
|
—
|
|
|
—
|
|
|
9
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
3
|
|
|
2
|
|
|
1
|
|
|
7
|
|
|
3
|
|
|
3
|
|
||||||
|
|
$3
|
|
|
|
$5
|
|
|
|
$3
|
|
|
|
$6
|
|
|
|
($1
|
)
|
|
|
$11
|
|
Wind Site
|
|
Nameplate Capacity
|
|
Expected In-service Date
|
|
Location
|
Upland Prairie
|
|
Up to 300 MW
|
|
2019
|
|
Clay and Dickinson Counties, Iowa
|
English Farms
|
|
Up to 170 MW
|
|
2019
|
|
Poweshiek County, Iowa
|
Golden Plains
|
|
Up to 200 MW
|
|
2020
|
|
Winnebago and Kossuth Counties, Iowa
|
Whispering Willow Expansion
|
|
Up to 200 MW
|
|
2020
|
|
Franklin County, Iowa
|
Richland
|
|
Up to 130 MW
|
|
2020
|
|
Sac County, Iowa
|
|
35
|
|
Utility
|
|
Test
|
|
Regulatory Capital Structure
|
|
After-tax
|
|
Return on
|
|
Average Rate Base
|
||||||
Type
|
|
Period
|
|
CE
|
|
LD
|
|
SD
|
|
WACC
|
NIRB (a)
|
|
(in millions) (b)
|
|||
Electric
|
|
2019
|
|
52.6%
|
|
43.5%
|
|
3.9%
|
|
7.47%
|
|
6.95%
|
|
|
$3,507
|
|
Electric
|
|
2020
|
|
52.5%
|
|
43.8%
|
|
3.7%
|
|
7.44%
|
|
7.08%
|
|
3,955
|
|
|
Gas
|
|
2019
|
|
52.6%
|
|
43.5%
|
|
3.9%
|
|
7.47%
|
|
6.84%
|
|
363
|
|
|
Gas
|
|
2020
|
|
52.5%
|
|
43.8%
|
|
3.7%
|
|
7.44%
|
|
6.97%
|
|
387
|
|
(a)
|
Return on NIRB includes an adjustment to the after-tax WACC to account for working capital, including impacts from Federal Tax Reform reclassifications of excess deferred taxes.
|
(b)
|
Average rate base amounts reflect WPL’s allocated retail share of rate base and do not include construction work in progress or a cash working capital allowance, and were calculated using a forecasted 13-month average for the test periods. The PSCW provides a return on selected construction work in progress and a cash working capital allowance by adjusting the percentage return on rate base.
|
|
36
|
|
|
37
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Cash, cash equivalents and restricted cash, January 1
|
|
$33.9
|
|
|
|
$13.1
|
|
|
|
$7.2
|
|
|
|
$4.2
|
|
|
|
$24.2
|
|
|
|
$6.9
|
|
Cash flows from (used for):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating activities
|
442.2
|
|
|
451.3
|
|
|
38.9
|
|
|
38.4
|
|
|
345.5
|
|
|
361.2
|
|
||||||
Investing activities
|
(815.7
|
)
|
|
(639.1
|
)
|
|
(328.9
|
)
|
|
(59.6
|
)
|
|
(468.7
|
)
|
|
(472.6
|
)
|
||||||
Financing activities
|
587.4
|
|
|
189.9
|
|
|
519.1
|
|
|
24.4
|
|
|
106.7
|
|
|
108.0
|
|
||||||
Net increase (decrease)
|
213.9
|
|
|
2.1
|
|
|
229.1
|
|
|
3.2
|
|
|
(16.5
|
)
|
|
(3.4
|
)
|
||||||
Cash, cash equivalents and restricted cash, September 30
|
|
$247.8
|
|
|
|
$15.2
|
|
|
|
$236.3
|
|
|
|
$7.4
|
|
|
|
$7.7
|
|
|
|
$3.5
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Amounts refunded to customers in 2018 related to Federal Tax Reform (Refer to
Note 2
for details)
|
|
($47
|
)
|
|
|
($16
|
)
|
|
|
($31
|
)
|
Changes in the sales of accounts receivable at IPL
|
(23
|
)
|
|
(23
|
)
|
|
—
|
|
|||
Changes in cash collateral balances
|
(17
|
)
|
|
—
|
|
|
—
|
|
|||
Increased collections from IPL’s and WPL’s retail customers caused by temperature impacts on electric and gas sales
|
53
|
|
|
30
|
|
|
23
|
|
|||
Changes in electric and gas tax benefit rider credits on customer bills at IPL
|
44
|
|
|
44
|
|
|
—
|
|
|||
Higher collections at IPL due to interim retail electric base rate increase effective April 13, 2017, final retail electric base rate increase effective May 1, 2018, and interim retail gas base rate increase effective May 14, 2018
|
39
|
|
|
39
|
|
|
—
|
|
|||
Changes in income taxes paid/refunded
|
6
|
|
|
(16
|
)
|
|
9
|
|
|||
Other (primarily due to other changes in working capital)
|
(64
|
)
|
|
(57
|
)
|
|
(17
|
)
|
|||
|
|
($9
|
)
|
|
|
$1
|
|
|
|
($16
|
)
|
|
38
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
(Higher) lower utility construction expenditures (a)
|
|
($188
|
)
|
|
|
($165
|
)
|
|
|
$9
|
|
Changes in the amount of cash receipts on sold receivables
|
(95
|
)
|
|
(95
|
)
|
|
—
|
|
|||
Non-utility wind investment in Oklahoma in 2017 (Refer to
Note 5
for details)
|
98
|
|
|
—
|
|
|
—
|
|
|||
Other
|
8
|
|
|
(9
|
)
|
|
(5
|
)
|
|||
|
|
($177
|
)
|
|
|
($269
|
)
|
|
|
$4
|
|
(a)
|
Largely due to higher expenditures for IPL’s and WPL’s expansion of wind generation and IPL’s advanced metering infrastructure, partially offset by lower expenditures for IPL’s and WPL’s electric and gas distribution systems, IPL’s Marshalltown Generating Station and WPL’s West Riverside Energy Center.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||||||||||||||
|
2018
|
2019
|
2020
|
2021
|
2022
|
|
2018
|
2019
|
2020
|
2021
|
2022
|
|
2018
|
2019
|
2020
|
2021
|
2022
|
||||||||||||||||||||||||||||||
Generation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||
Renewable projects
|
|
$710
|
|
|
$645
|
|
|
$200
|
|
|
$15
|
|
|
$125
|
|
|
|
$630
|
|
|
$545
|
|
|
$100
|
|
|
$—
|
|
|
$5
|
|
|
|
$80
|
|
|
$100
|
|
|
$100
|
|
|
$15
|
|
|
$120
|
|
West Riverside
|
155
|
|
130
|
|
15
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
155
|
|
130
|
|
15
|
|
—
|
|
—
|
|
|||||||||||||||
Other
|
160
|
|
85
|
|
135
|
|
155
|
|
200
|
|
|
65
|
|
55
|
|
75
|
|
90
|
|
135
|
|
|
95
|
|
30
|
|
60
|
|
65
|
|
65
|
|
|||||||||||||||
Distribution:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||
Electric systems
|
450
|
|
475
|
|
525
|
|
570
|
|
600
|
|
|
280
|
|
285
|
|
330
|
|
355
|
|
375
|
|
|
170
|
|
190
|
|
195
|
|
215
|
|
225
|
|
|||||||||||||||
Gas systems
|
135
|
|
100
|
|
245
|
|
125
|
|
175
|
|
|
95
|
|
50
|
|
65
|
|
80
|
|
115
|
|
|
40
|
|
50
|
|
180
|
|
45
|
|
60
|
|
|||||||||||||||
Other
|
130
|
|
175
|
|
165
|
|
180
|
|
210
|
|
|
20
|
|
20
|
|
30
|
|
20
|
|
20
|
|
|
10
|
|
15
|
|
10
|
|
10
|
|
15
|
|
|||||||||||||||
|
|
$1,740
|
|
|
$1,610
|
|
|
$1,285
|
|
|
$1,045
|
|
|
$1,310
|
|
|
|
$1,090
|
|
|
$955
|
|
|
$600
|
|
|
$545
|
|
|
$650
|
|
|
|
$550
|
|
|
$515
|
|
|
$560
|
|
|
$350
|
|
|
$485
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Proceeds from issuance of long-term debt at AEF
|
|
$1,000
|
|
|
|
$—
|
|
|
|
$—
|
|
Proceeds from issuance of long-term debt at IPL
|
500
|
|
|
500
|
|
|
—
|
|
|||
Higher net proceeds from common stock issuances
|
48
|
|
|
—
|
|
|
—
|
|
|||
Payments to retire long-term debt
|
(601
|
)
|
|
(100
|
)
|
|
—
|
|
|||
Net changes in the amount of commercial paper and short-term borrowings outstanding
|
(560
|
)
|
|
(44
|
)
|
|
(159
|
)
|
|||
Higher capital contributions from IPL’s and WPL’s parent company, Alliant Energy
|
—
|
|
|
130
|
|
|
160
|
|
|||
Other
|
11
|
|
|
9
|
|
|
(2
|
)
|
|||
|
|
$398
|
|
|
|
$495
|
|
|
|
($1
|
)
|
|
39
|
|
•
|
Planned Utility Rate Review -
IPL currently expects to make a retail rate filing in the first quarter of 2019 based on one or more future forecasted test periods for electric and gas rates. The key drivers for the anticipated filing include recovery of capital projects, including new wind generation, and ongoing operational costs. IPL expects to concurrently file for interim electric rates based on historical data for 2018 and certain known and measurable changes occurring in the first quarter of 2019. Those interim electric rates are expected to be effective in April 2019.
|
•
|
Financing Plans -
Alliant Energy currently expects to issue up to $400 million of common stock in 2019 through one or more offerings and its Shareowner Direct Plan. IPL and WPL currently expect to issue up to $600 million and $400 million of long-term debt securities in 2019, respectively. WPL has $250 million of long-term debt maturing in July 2019.
|
•
|
Common Stock Dividends -
Alliant Energy announced a 6% increase in its targeted 2019 annual common stock dividend to $1.42 per share, which is equivalent to a quarterly rate of $0.355 per share, beginning with the February 2019 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.
|
|
40
|
|
•
|
Utility Electric and Gas Margins -
Alliant Energy, IPL and WPL currently expect an increase in electric and gas margins in 2019 compared to 2018 from earnings on increasing rate base for WPL’s retail electric and gas rate review (2019/2020 Test Period) and interim rates for IPL’s planned retail rate review. Refer to “
Rate Matters
” for further discussion.
|
•
|
Depreciation and Amortization Expenses -
Alliant Energy, IPL and WPL currently expect an increase in depreciation and amortization expenses in 2019 compared to 2018 due to property additions, including IPL’s expansion of wind generation and WPL’s West Riverside natural gas-fired EGU.
|
•
|
Interest Expense -
Alliant Energy currently expects interest expense to increase in 2019 compared to 2018 primarily due to financings completed in 2018 and planned in 2019 as discussed above.
|
|
|
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
|
|
3,554
|
|
|
|
$43.13
|
|
|
—
|
|
N/A
|
August 1 through August 31
|
|
3,830
|
|
|
43.02
|
|
|
—
|
|
N/A
|
|
September 1 through September 30
|
|
177
|
|
|
43.25
|
|
|
—
|
|
N/A
|
|
|
|
7,561
|
|
|
43.08
|
|
|
—
|
|
|
(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.
|
|
41
|
|
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)
|
|
42
|
|
1.
|
Introduction
|
2.
|
Eligibility
|
1.
|
Employees of Alliant Energy Corporation and its subsidiaries and affiliates who are not designated as Executive Officers by the Board of Directors;
|
2.
|
Executive Officers who are given a Reassignment (as defined below);
|
3.
|
Executive Officers who are offered Reassignment but decline Reassignment or refuse to relocate, if so required; or
|
4.
|
Executive Officers whose employment terminates for any reason other than those described above, including for Cause (as defined below) or at will.
|
3.
|
Conditions for Receipt of Benefits
|
4.
|
Severance Benefits
|
1.
|
Use of the Employee Assistance Program for 2 months following the Executive Officer’s termination date. Call 1-800-327-4692 to set up an appointment; and
|
2.
|
The Company will pay for up to 6 sessions per issue of personal, family, or financial consulting within the two-month eligibility period.
|
5.
|
Claims Procedure
|
1.
|
The Plan Administrator will notify the claimant of the approval or denial of a claim for benefits within 90 days after receiving the claim for benefits, unless special circumstances require an extension of time for processing the claim (of no more than an additional 90 days). If an extension is needed due to special circumstances; the Plan Administrator will notify the claimant in writing of the delay and the reason for the delay before the end of the initial 90 days.
|
2.
|
If the claim is denied, the Plan Administrator will provide the claimant with a written notice stating the reason for the denial, referring the claimant to the applicable plan provisions or other relevant records on which the denial was based, describing any additional information or material necessary for the claimant to perfect their claim and the reason why such information is necessary, and providing information about how to seek review of the denial.
|
3.
|
Claimants have the right to request a review of the Plan Administrator’s denial. A claimant whose claim for benefits was denied must file a written request for review (i.e., an appeal) with the Plan Administrator within 60 days after receiving the Plan Administrator’s notice of denial.
|
4.
|
Claimants and their authorized representatives may review documents and other information relevant to a claimant’s claim for benefits, to the extent provided by DOL Regulation Section 2560-503-1, and may submit written comments, documents and other information relating to the claim for benefits to the Plan Administrator for its consideration during its reviews.
|
5.
|
The Plan Administrator will provide the claimant with a written decision on review within 60 days after receiving the request for review, unless special circumstances require an extension of time for processing the appeal (of no more than an additional 60 days). If an extension is required due to special circumstances, the Plan Administrator will notify the claimant in writing of the delay and the reason for the delay before the end of the initial 60-day period.
|
6.
|
Following its review, the Plan Administrator will provide the claimant with a written notice stating its decision, which will include the reason for its decision, refer the claimant to applicable plan provisions or other written records on which its decision was based, and notify the claimant of their right to bring suit to enforce their rights under the Severance Plan. The Plan Administrator’s decision on review is final and binding on all parties.
|
7.
|
If a claimant fails fail to file a claim for benefits and a request for review in accordance with the above procedures, one will have no right to a review of the Plan Administrator’s decision or to bring a court action to enforce the Severance Plan or one’s right to benefits under the Severance Plan.
|
6.
|
Definitions
|
7.
|
Plan Administration and Other Matters
|
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 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
|
Senior Vice President, Chief Financial Officer and Treasurer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Senior 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
|
Senior 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
|
Senior 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
|
Senior 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
|
Senior Vice President, Chief Financial Officer and Treasurer
|