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☒
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Commission
File Number
|
|
Name of Registrant, State of Incorporation,
Address of Principal Executive Offices and Telephone Number
|
|
IRS Employer
Identification Number
|
1-9894
|
|
ALLIANT ENERGY CORPORATION
|
|
39-1380265
|
|
|
(a Wisconsin corporation)
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4902 N. Biltmore Lane
|
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Madison, Wisconsin 53718
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Telephone (608) 458-3311
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1-4117
|
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INTERSTATE POWER AND LIGHT COMPANY
|
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42-0331370
|
|
|
(an Iowa corporation)
|
|
|
|
|
Alliant Energy Tower
|
|
|
|
|
Cedar Rapids, Iowa 52401
|
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|
|
Telephone (319) 786-4411
|
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||
0-337
|
|
WISCONSIN POWER AND LIGHT COMPANY
|
|
39-0714890
|
|
|
(a Wisconsin corporation)
|
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|
|
|
4902 N. Biltmore Lane
|
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|
|
|
Madison, Wisconsin 53718
|
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|
|
|
Telephone (608) 458-3311
|
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|
|
Title of Each Class
|
Name of Each Exchange on Which Registered
|
Alliant Energy Corporation
|
Common Stock, $0.01 Par Value
|
Nasdaq Global Select Market
|
Interstate Power and Light Company
|
5.100% Series D Cumulative Perpetual Preferred Stock, $0.01 Par Value
|
Nasdaq Global Select Market
|
|
Large Accelerated Filer
|
|
Accelerated Filer
|
|
Non-accelerated Filer
|
|
Smaller Reporting Company
|
|
Emerging Growth Company
|
Alliant Energy Corporation
|
☒
|
|
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Interstate Power and Light Company
|
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☒
|
|
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|
Wisconsin Power and Light Company
|
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|
|
|
☒
|
|
|
|
|
Alliant Energy Corporation
|
$9.9 billion
|
Interstate Power and Light Company
|
$—
|
Wisconsin Power and Light Company
|
$—
|
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|
Abbreviation or Acronym
|
Definition
|
Abbreviation or Acronym
|
Definition
|
2019 Alliant Energy Proxy Statement
|
Alliant Energy’s Proxy Statement for the 2019 Annual Meeting of Shareowners
|
IPL
|
Interstate Power and Light Company
|
AEF
|
Alliant Energy Finance, LLC
|
IRS
|
Internal Revenue Service
|
AFUDC
|
Allowance for funds used during construction
|
ITC
|
ITC Midwest LLC
|
Alliant Energy
|
Alliant Energy Corporation
|
IUB
|
Iowa Utilities Board
|
ARO
|
Asset retirement obligation
|
KWh
|
Kilowatt-hour
|
ATC
|
American Transmission Company LLC
|
Marshalltown
|
Marshalltown Generating Station
|
ATC Holdings
|
Interest in American Transmission Company LLC and ATC Holdco LLC
|
MDA
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
ATI
|
AE Transco Investments, LLC
|
MGP
|
Manufactured gas plant
|
CA
|
Certificate of authority
|
MISO
|
Midcontinent Independent System Operator, Inc.
|
CAA
|
Clean Air Act
|
MW
|
Megawatt
|
CCR
|
Coal combustion residuals
|
MWh
|
Megawatt-hour
|
CO2
|
Carbon dioxide
|
N/A
|
Not applicable
|
Corporate Services
|
Alliant Energy Corporate Services, Inc.
|
Note(s)
|
Combined Notes to Consolidated Financial Statements
|
CPCN
|
Certificate of Public Convenience and Necessity
|
NOx
|
Nitrogen oxide
|
CWIP
|
Construction work in progress
|
OIP
|
Alliant Energy 2010 Omnibus Incentive Plan
|
DAEC
|
Duane Arnold Energy Center
|
OPEB
|
Other postretirement benefits
|
DCP
|
Alliant Energy Deferred Compensation Plan
|
PPA
|
Purchased power agreement
|
DLIP
|
Alliant Energy Director Long Term Incentive Plan
|
PSCW
|
Public Service Commission of Wisconsin
|
Dth
|
Dekatherm
|
Receivables Agreement
|
Receivables Purchase and Sale Agreement
|
EEP
|
Energy efficiency plan
|
RES
|
Renewable energy standards
|
EGU
|
Electric generating unit
|
Riverside
|
Riverside Energy Center
|
EPA
|
U.S. Environmental Protection Agency
|
SCR
|
Selective catalytic reduction
|
EPB
|
Emissions plan and budget
|
SEC
|
Securities and Exchange Commission
|
EPS
|
Earnings per weighted average common share
|
SO2
|
Sulfur dioxide
|
FASB
|
Financial Accounting Standards Board
|
Federal Tax Reform
|
Tax Cuts and Jobs Act
|
FERC
|
Federal Energy Regulatory Commission
|
U.S.
|
United States of America
|
Financial Statements
|
Consolidated Financial Statements
|
VEBA
|
Voluntary Employees’ Beneficiary Association
|
FTR
|
Financial transmission right
|
VIE
|
Variable interest entity
|
Fuel-related
|
Electric production fuel and purchased power
|
Whiting Petroleum
|
Whiting Petroleum Corporation
|
FWEC
|
Forward Wind Energy Center
|
WPL
|
Wisconsin Power and Light Company
|
GAAP
|
U.S. generally accepted accounting principles
|
WPL Transco
|
WPL Transco, LLC
|
GHG
|
Greenhouse gases
|
|
|
|
1
|
|
•
|
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;
|
•
|
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;
|
•
|
weather effects on results of utility operations;
|
•
|
issues associated with environmental remediation and environmental compliance, including compliance with all environmental and emissions permits, the CCR rule, future changes in environmental laws and regulations, including the EPA’s regulations for CO2 emissions reductions from new and existing fossil-fueled EGUs, and litigation associated with environmental requirements;
|
•
|
the ability to defend against environmental claims brought by state and federal agencies, such as the EPA, state natural resources agencies or third parties, such as the Sierra Club, and the impact on operating expenses of defending and resolving such claims;
|
•
|
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;
|
•
|
the ability to complete construction of wind projects within the cost caps set by regulators and to meet all requirements to qualify for the full level of production tax credits;
|
•
|
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;
|
•
|
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;
|
|
2
|
|
•
|
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
|
•
|
other factors listed in
MDA
and
Item 1A Risk Factors
.
|
|
3
|
|
|
Total
|
|
Number of
|
|
Percentage of Employees
|
|
Number of
|
|
Bargaining Unit
|
|
Covered by Collective
|
|
Employees
|
|
Employees
|
|
Bargaining Agreements
|
Alliant Energy
|
3,885
|
|
2,151
|
|
55%
|
IPL
|
1,628
|
|
1,031
|
|
63%
|
WPL
|
1,234
|
|
1,012
|
|
82%
|
|
4
|
|
|
5
|
|
|
6
|
|
|
7
|
|
IPL
|
|
WPL
|
|
8
|
|
|
IPL
|
|
WPL
|
||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||
All fuels
|
|
$2.46
|
|
|
|
$2.22
|
|
|
|
$2.17
|
|
|
|
$2.72
|
|
|
|
$2.53
|
|
|
|
$2.61
|
|
Natural gas (a)
|
3.12
|
|
|
2.72
|
|
|
2.86
|
|
|
3.30
|
|
|
3.28
|
|
|
3.25
|
|
||||||
Coal
|
1.97
|
|
|
2.00
|
|
|
1.98
|
|
|
2.45
|
|
|
2.38
|
|
|
2.47
|
|
(a)
|
The average cost of natural gas includes commodity and transportation costs, as well as realized gains and losses from swap and option contracts used to hedge the price of natural gas volumes expected to be used by IPL’s and WPL’s natural gas-fired EGUs.
|
|
9
|
|
|
10
|
|
Electric Operating Information - Alliant Energy
|
2018
|
|
2017
|
|
2016
|
||||||
Revenues (in millions):
|
|
|
|
|
|
||||||
Retail
|
|
$2,687.8
|
|
|
|
$2,569.6
|
|
|
|
$2,564.8
|
|
Sales for resale
|
259.2
|
|
|
268.8
|
|
|
266.7
|
|
|||
Other
|
53.3
|
|
|
56.3
|
|
|
44.0
|
|
|||
Total
|
|
$3,000.3
|
|
|
|
$2,894.7
|
|
|
|
$2,875.5
|
|
Sales (000s MWh):
|
|
|
|
|
|
||||||
Retail
|
25,684
|
|
|
25,095
|
|
|
25,339
|
|
|||
Sales for resale
|
5,804
|
|
|
5,003
|
|
|
4,399
|
|
|||
Other
|
96
|
|
|
94
|
|
|
100
|
|
|||
Total
|
31,584
|
|
|
30,192
|
|
|
29,838
|
|
|||
Customers (End of Period):
|
|
|
|
|
|
||||||
Retail
|
962,654
|
|
|
959,295
|
|
|
955,533
|
|
|||
Other
|
2,860
|
|
|
2,826
|
|
|
2,785
|
|
|||
Total
|
965,514
|
|
|
962,121
|
|
|
958,318
|
|
|||
Other Selected Electric Data:
|
|
|
|
|
|
||||||
Maximum summer peak hour demand (MW)
|
5,459
|
|
|
5,375
|
|
|
5,615
|
|
|||
Maximum winter peak hour demand (MW)
|
4,556
|
|
|
4,504
|
|
|
4,559
|
|
|||
Cooling degree days (a):
|
|
|
|
|
|
||||||
Cedar Rapids, Iowa (IPL) (normal - 793)
|
1,032
|
|
|
747
|
|
|
971
|
|
|||
Madison, Wisconsin (WPL) (normal - 672)
|
799
|
|
|
578
|
|
|
780
|
|
|||
Sources of electric energy (000s MWh):
|
|
|
|
|
|
||||||
Gas
|
9,731
|
|
|
5,315
|
|
|
4,505
|
|
|||
Purchased power:
|
|
|
|
|
|
||||||
Nuclear
|
3,538
|
|
|
3,727
|
|
|
3,444
|
|
|||
Wind (b)
|
1,086
|
|
|
1,268
|
|
|
1,079
|
|
|||
Other (b)
|
4,076
|
|
|
6,242
|
|
|
8,912
|
|
|||
Wind (b)
|
1,603
|
|
|
1,591
|
|
|
1,382
|
|
|||
Coal
|
12,113
|
|
|
12,380
|
|
|
11,019
|
|
|||
Other (b)
|
240
|
|
|
239
|
|
|
228
|
|
|||
Total
|
32,387
|
|
|
30,762
|
|
|
30,569
|
|
|||
Revenue per KWh sold to retail customers (cents)
|
10.46
|
|
|
10.24
|
|
|
10.12
|
|
(a)
|
Cooling degree days are calculated using a simple average of the high and low temperatures each day compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year average of historical cooling degree days. Refer to “
Gas Operating Information
” below for details of heating degree days.
|
(b)
|
All or some of the renewable energy attributes associated with generation from these sources may be used in future years to comply with renewable energy standards or other regulatory requirements.
|
|
11
|
|
Electric Operating Information
|
IPL
|
|
WPL
|
||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||
Revenues (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$1,578.2
|
|
|
|
$1,448.0
|
|
|
|
$1,442.5
|
|
|
|
$1,109.6
|
|
|
|
$1,121.6
|
|
|
|
$1,122.3
|
|
Sales for resale
|
117.3
|
|
|
114.6
|
|
|
97.8
|
|
|
141.9
|
|
|
154.2
|
|
|
168.9
|
|
||||||
Other
|
35.6
|
|
|
36.3
|
|
|
29.4
|
|
|
17.7
|
|
|
20.0
|
|
|
14.6
|
|
||||||
Total
|
|
$1,731.1
|
|
|
|
$1,598.9
|
|
|
|
$1,569.7
|
|
|
|
$1,269.2
|
|
|
|
$1,295.8
|
|
|
|
$1,305.8
|
|
Sales (000s MWh):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
14,670
|
|
|
14,356
|
|
|
14,523
|
|
|
11,014
|
|
|
10,739
|
|
|
10,816
|
|
||||||
Sales for resale
|
2,980
|
|
|
2,169
|
|
|
1,406
|
|
|
2,824
|
|
|
2,834
|
|
|
2,993
|
|
||||||
Other
|
37
|
|
|
38
|
|
|
41
|
|
|
59
|
|
|
56
|
|
|
59
|
|
||||||
Total
|
17,687
|
|
|
16,563
|
|
|
15,970
|
|
|
13,897
|
|
|
13,629
|
|
|
13,868
|
|
||||||
Customers (End of Period):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
489,831
|
|
|
489,717
|
|
|
489,005
|
|
|
472,823
|
|
|
469,578
|
|
|
466,528
|
|
||||||
Other
|
900
|
|
|
878
|
|
|
862
|
|
|
1,960
|
|
|
1,948
|
|
|
1,923
|
|
||||||
Total
|
490,731
|
|
|
490,595
|
|
|
489,867
|
|
|
474,783
|
|
|
471,526
|
|
|
468,451
|
|
||||||
Other Selected Electric Data:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Maximum summer peak hour demand (MW)
|
2,929
|
|
|
2,968
|
|
|
2,996
|
|
|
2,647
|
|
|
2,476
|
|
|
2,681
|
|
||||||
Maximum winter peak hour demand (MW)
|
2,553
|
|
|
2,421
|
|
|
2,479
|
|
|
2,011
|
|
|
2,100
|
|
|
2,131
|
|
||||||
Cooling degree days (a):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cedar Rapids, Iowa (IPL) (normal - 793)
|
1,032
|
|
|
747
|
|
|
971
|
|
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
||||||
Madison, Wisconsin (WPL) (normal - 672)
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
|
799
|
|
|
578
|
|
|
780
|
|
||||||
Sources of electric energy (000s MWh):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Gas
|
5,930
|
|
|
3,342
|
|
|
1,838
|
|
|
3,801
|
|
|
1,973
|
|
|
2,667
|
|
||||||
Purchased power:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Nuclear
|
3,538
|
|
|
3,727
|
|
|
3,444
|
|
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
||||||
Wind (b)
|
549
|
|
|
613
|
|
|
635
|
|
|
537
|
|
|
655
|
|
|
444
|
|
||||||
Other (b)
|
1,472
|
|
|
2,456
|
|
|
4,267
|
|
|
2,604
|
|
|
3,786
|
|
|
4,645
|
|
||||||
Wind (b)
|
890
|
|
|
851
|
|
|
630
|
|
|
713
|
|
|
740
|
|
|
752
|
|
||||||
Coal
|
5,690
|
|
|
5,766
|
|
|
5,598
|
|
|
6,423
|
|
|
6,614
|
|
|
5,421
|
|
||||||
Other (b)
|
40
|
|
|
22
|
|
|
6
|
|
|
200
|
|
|
217
|
|
|
222
|
|
||||||
Total
|
18,109
|
|
|
16,777
|
|
|
16,418
|
|
|
14,278
|
|
|
13,985
|
|
|
14,151
|
|
||||||
Revenue per KWh sold to retail customers (cents)
|
10.76
|
|
|
10.09
|
|
|
9.93
|
|
|
10.07
|
|
|
10.44
|
|
|
10.38
|
|
(a)
|
Cooling degree days are calculated using a simple average of the high and low temperatures each day compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year average of historical cooling degree days. Refer to “
Gas Operating Information
” below for details of heating degree days.
|
(b)
|
All or some of the renewable energy attributes associated with generation from these sources may be used in future years to comply with renewable energy standards or other regulatory requirements.
|
|
12
|
|
Gas Operating Information - Alliant Energy
|
2018
|
|
2017
|
|
2016
|
||||||
Revenues (in millions):
|
|
|
|
|
|
||||||
Retail
|
|
$402.3
|
|
|
|
$364.6
|
|
|
|
$322.4
|
|
Transportation/other
|
44.3
|
|
|
36.3
|
|
|
33.0
|
|
|||
Total
|
|
$446.6
|
|
|
|
$400.9
|
|
|
|
$355.4
|
|
Sales (000s Dths):
|
|
|
|
|
|
||||||
Retail
|
53,389
|
|
|
49,250
|
|
|
47,743
|
|
|||
Transportation/other
|
90,357
|
|
|
76,916
|
|
|
77,485
|
|
|||
Total
|
143,746
|
|
|
126,166
|
|
|
125,228
|
|
|||
Retail Customers at End of Period
|
415,174
|
|
|
413,054
|
|
|
411,758
|
|
|||
Other Selected Gas Data:
|
|
|
|
|
|
||||||
Heating degree days (a):
|
|
|
|
|
|
||||||
Cedar Rapids, Iowa (IPL) (normal - 6,655)
|
6,868
|
|
|
6,076
|
|
|
5,933
|
|
|||
Madison, Wisconsin (WPL) (normal - 6,939)
|
7,303
|
|
|
6,569
|
|
|
6,420
|
|
|||
Revenue per Dth sold to retail customers
|
|
$7.54
|
|
|
|
$7.40
|
|
|
|
$6.75
|
|
Purchased gas costs per Dth sold to retail customers
|
|
$4.27
|
|
|
|
$4.23
|
|
|
|
$3.99
|
|
Gas Operating Information
|
IPL
|
|
WPL
|
||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||
Revenues (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
|
$238.4
|
|
|
|
$202.2
|
|
|
|
$183.1
|
|
|
|
$163.9
|
|
|
|
$162.4
|
|
|
|
$139.3
|
|
Transportation/other
|
27.8
|
|
|
23.8
|
|
|
20.9
|
|
|
16.5
|
|
|
12.5
|
|
|
12.1
|
|
||||||
Total
|
|
$266.2
|
|
|
|
$226.0
|
|
|
|
$204.0
|
|
|
|
$180.4
|
|
|
|
$174.9
|
|
|
|
$151.4
|
|
Sales (000s Dths):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
28,651
|
|
|
26,580
|
|
|
26,230
|
|
|
24,738
|
|
|
22,670
|
|
|
21,513
|
|
||||||
Transportation/other
|
37,899
|
|
|
39,365
|
|
|
37,158
|
|
|
52,458
|
|
|
37,551
|
|
|
40,327
|
|
||||||
Total
|
66,550
|
|
|
65,945
|
|
|
63,388
|
|
|
77,196
|
|
|
60,221
|
|
|
61,840
|
|
||||||
Retail Customers at End of Period
|
224,413
|
|
|
224,041
|
|
|
224,420
|
|
|
190,761
|
|
|
189,013
|
|
|
187,338
|
|
||||||
Other Selected Gas Data:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Maximum daily winter peak demand (Dth)
|
264,787
|
|
|
237,203
|
|
|
262,409
|
|
|
220,784
|
|
|
201,947
|
|
|
203,655
|
|
||||||
Heating degree days (a):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cedar Rapids, Iowa (IPL) (normal - 6,655)
|
6,868
|
|
|
6,076
|
|
|
5,933
|
|
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
||||||
Madison, Wisconsin (WPL) (normal - 6,939)
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
|
7,303
|
|
|
6,569
|
|
|
6,420
|
|
||||||
Revenue per Dth sold to retail customers
|
|
$8.32
|
|
|
|
$7.61
|
|
|
|
$6.98
|
|
|
|
$6.63
|
|
|
|
$7.16
|
|
|
|
$6.48
|
|
Purchased gas cost per Dth sold to retail customers
|
|
$4.51
|
|
|
|
$4.34
|
|
|
|
$4.21
|
|
|
|
$3.99
|
|
|
|
$4.11
|
|
|
|
$3.72
|
|
(a)
|
Heating degree days are calculated using a simple average of the high and low temperatures each day compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year average of historical heating degree days.
|
|
13
|
|
|
14
|
|
|
15
|
|
|
16
|
|
|
17
|
|
|
18
|
|
IPL
|
|
|
|
Primary
|
|
Generating
|
|
|
|
In-service
|
|
Dispatch
|
|
Capacity
|
|
Name of EGU and Location
|
|
Dates
|
|
Type (a)
|
|
in MW (b)
|
|
Marshalltown Generating Station (Units 1-3); Marshalltown, IA
|
|
2017
|
|
IN
|
|
630
|
|
Emery Generating Station (Units 1-3); Mason City, IA
|
|
2004
|
|
IN
|
|
547
|
|
Marshalltown Combustion Turbines (Units 1-3); Marshalltown, IA
|
|
1978
|
|
PK
|
|
143
|
|
Prairie Creek Generating Station (Unit 4); Cedar Rapids, IA
|
|
1967
|
|
PK
|
|
109
|
|
Burlington Combustion Turbines (Units 1-4); Burlington, IA
|
|
1994-1996
|
|
PK
|
|
46
|
|
Total Gas
|
|
|
|
|
|
1,475
|
|
|
|
|
|
|
|
|
|
Ottumwa Generating Station (Unit 1); Ottumwa, IA (c)
|
|
1981
|
|
BL
|
|
315
|
|
Lansing Generating Station (Unit 4); Lansing, IA
|
|
1977
|
|
BL
|
|
223
|
|
Burlington Generating Station (Unit 1); Burlington, IA
|
|
1968
|
|
BL
|
|
192
|
|
George Neal Generating Station (Unit 4); Sioux City, IA (d)
|
|
1979
|
|
BL
|
|
162
|
|
George Neal Generating Station (Unit 3); Sioux City, IA (e)
|
|
1975
|
|
BL
|
|
135
|
|
Prairie Creek Generating Station (Units 1 and 3); Cedar Rapids, IA
|
|
1958-1997
|
|
BL
|
|
28
|
|
Louisa Generating Station (Unit 1); Louisa, IA (f)
|
|
1983
|
|
BL
|
|
29
|
|
Total Coal
|
|
|
|
|
|
1,084
|
|
|
|
|
|
|
|
|
|
Lime Creek Combustion Turbines (Units 1-2); Mason City, IA
|
|
1991
|
|
PK
|
|
68
|
|
Total Oil
|
|
|
|
|
|
68
|
|
|
|
|
|
|
|
|
|
Whispering Willow - East (121 Units); Franklin Co., IA
|
|
2009
|
|
IN
|
|
30
|
|
Franklin County (60 Units); Franklin Co., IA
|
|
2012
|
|
IN
|
|
15
|
|
Total Wind
|
|
|
|
|
|
45
|
|
|
|
|
|
|
|
|
|
Dubuque Solar Garden; Dubuque, IA
|
|
2017
|
|
IN
|
|
3
|
|
|
|
|
|
|
|
|
|
Total capacity
|
|
|
|
|
|
2,675
|
|
|
19
|
|
WPL
|
|
|
|
Primary
|
|
Generating
|
|
|
|
In-service
|
|
Dispatch
|
|
Capacity
|
|
Name of EGU and Location
|
|
Dates
|
|
Type (a)
|
|
in MW (b)
|
|
Riverside Energy Center (Units 1-3); Beloit, WI
|
|
2004
|
|
IN
|
|
552
|
|
Neenah Energy Facility (Units 1-2); Neenah, WI
|
|
2000
|
|
PK
|
|
294
|
|
South Fond du Lac Combustion Turbines (2 Units); Fond du Lac, WI (g)
|
|
1994
|
|
PK
|
|
143
|
|
Rock River Combustion Turbines (Units 3-6); Beloit, WI
|
|
1967-1972
|
|
PK
|
|
132
|
|
Sheepskin Combustion Turbine (Unit 1); Edgerton, WI
|
|
1971
|
|
PK
|
|
34
|
|
Total Gas
|
|
|
|
|
|
1,155
|
|
|
|
|
|
|
|
|
|
Columbia Energy Center (Units 1-2); Portage, WI (h)
|
|
1975-1978
|
|
BL
|
|
554
|
|
Edgewater Generating Station (Unit 5); Sheboygan, WI
|
|
1985
|
|
BL
|
|
401
|
|
Total Coal
|
|
|
|
|
|
955
|
|
|
|
|
|
|
|
|
|
Bent Tree (122 Units); Freeborn Co., MN
|
|
2010-2011
|
|
IN
|
|
28
|
|
Cedar Ridge (41 Units); Fond du Lac Co., WI
|
|
2008
|
|
IN
|
|
8
|
|
Forward Wind Energy Center; Dodge and Fond du Lac Co, WI (i)
|
|
2008
|
|
IN
|
|
6
|
|
Total Wind
|
|
|
|
|
|
42
|
|
|
|
|
|
|
|
|
|
Prairie du Sac Hydro Plant (8 Units); Prairie due Sac, WI
|
|
1914-1940
|
|
IN
|
|
12
|
|
Kilbourn Hydro Plant (4 Units); Wisconsin Dells, WI
|
|
1926-1939
|
|
IN
|
|
6
|
|
Total Hydro
|
|
|
|
|
|
18
|
|
|
|
|
|
|
|
|
|
Total capacity
|
|
|
|
|
|
2,170
|
|
(a)
|
Base load EGUs (BL) are designed for nearly continuous operation at or near full capacity to provide the system base load. Intermediate EGUs (IN) follow system load changes with frequent starts and curtailments of output during low demand. Peak load EGUs (PK) are generally low efficiency, quick response units that run primarily when there is high demand.
|
(b)
|
Based on the accredited generating capacity of the EGUs as of
December 31, 2018
included in MISO’s resource adequacy process for the planning period from
June 2018 through May 2019
.
|
(c)
|
Represents IPL’s 48% ownership interest in this 656 MW (generating capacity) EGU, which is operated by IPL.
|
(d)
|
Represents IPL’s 25.695% ownership interest in this 629 MW (generating capacity) EGU, which is operated by MidAmerican Energy Company.
|
(e)
|
Represents IPL’s 28% ownership interest in this 481 MW (generating capacity) EGU, which is operated by MidAmerican Energy Company.
|
(f)
|
Represents IPL’s 4% ownership interest in this 718 MW (generating capacity) EGU, which is operated by MidAmerican Energy Company.
|
(g)
|
Represents Units 2 and 3, which WPL owns. WPL also operates, but does not own, South Fond du Lac Combustion Turbines Units 1 and 4.
|
(h)
|
Represents WPL’s 52.5% ownership interest in this 1,055 MW (generating capacity) EGU, which is operated by WPL.
|
(i)
|
Represents WPL’s 42.64% ownership interest in this 15 MW (generating capacity) EGU, which is operated by Invenergy Services, LLC.
|
|
20
|
|
Name
|
|
Age as of Filing Date
|
|
Registrant
|
|
Positions
|
Patricia L. Kampling
|
|
59
|
|
Alliant Energy
|
|
Ms. Kampling has served as a director since January 2012, as Chairman of the Board and Chief Executive Officer (CEO) since April 2012, and as President from February 2011 to December 2017.
|
|
|
|
|
IPL and WPL
|
|
Ms. Kampling has served as a director since January 2012, as Chairman of the Board since April 2012, and as CEO from April 2012 to December 2018.
|
John O. Larsen
|
|
55
|
|
Alliant Energy
|
|
Mr. Larsen has served as President and Chief Operating Officer since January 2019 and as a director since February 2019. He previously served as President since January 2018, Senior Vice President (VP) from February 2014 to January 2018, and as Senior VP-Generation from January 2010 to February 2014.
|
|
|
|
|
IPL
|
|
Mr. Larsen has served as CEO since January 2019 and as a director since February 2019. He previously served as Senior VP since February 2014 and as Senior VP-Generation from January 2010 to February 2014.
|
|
|
|
|
WPL
|
|
Mr. Larsen has served as CEO since January 2019 and as a director since February 2019. He previously served as President since December 2010.
|
Robert J. Durian
|
|
48
|
|
Alliant Energy, IPL and WPL
|
|
Mr. Durian has served as Senior VP and Chief Financial Officer (CFO) since February 2019. He previously served as Senior VP, CFO and Treasurer since January 2018; as VP, CFO and Treasurer from December 2016 to January 2018; as VP, Chief Accounting Officer (CAO) and Treasurer from July 2016 to December 2016; as VP, CAO and Controller from July 2015 to July 2016; and as Controller and CAO from February 2011 to July 2015.
|
James H. Gallegos
|
|
58
|
|
Alliant Energy, IPL and WPL
|
|
Mr. Gallegos has served as Senior VP, General Counsel and Corporate Secretary since February 2015. He previously served as Senior VP and General Counsel since February 2014; and as VP and General Counsel from November 2010 to February 2014.
|
David A. de Leon
|
|
56
|
|
Alliant Energy and IPL
|
|
Mr. de Leon has served as Senior VP since January 2019. He previously served as VP since April 2017, as Director-Generation Construction from February 2014 to April 2017, and as Director-Construction from January 2011 to February 2014.
|
|
|
|
|
WPL
|
|
Mr. de Leon has served as President since January 2019. He previously served as VP since April 2017, as Director-Generation Construction from February 2014 to April 2017, and as Director-Construction from January 2011 to February 2014.
|
Terry L. Kouba
|
|
60
|
|
Alliant Energy and WPL
|
|
Mr. Kouba has served as Senior VP since January 2019. He previously served as VP since February 2014, and as Director-Generation Operations from January 2011 to February 2014.
|
|
|
|
|
IPL
|
|
Mr. Kouba has served as President since January 2019. He previously served as VP since February 2014, and as Director-Generation Operations from January 2011 to February 2014.
|
Benjamin M. Bilitz
|
|
44
|
|
Alliant Energy, IPL and WPL
|
|
Mr. Bilitz has served as CAO and Controller since December 2016. He previously served as Controller since July 2016 and as Assistant Controller from March 2011 to July 2016.
|
|
21
|
|
|
|
Total Number
|
|
Average Price
|
|
Total Number of Shares
|
|
Maximum Number (or Approximate
|
|||
|
|
of Shares
|
|
Paid Per
|
|
Purchased as Part of
|
|
Dollar Value) of Shares That May
|
|||
Period
|
|
Purchased (a)
|
|
Share
|
|
Publicly Announced Plan
|
|
Yet Be Purchased Under the Plan (a)
|
|||
October 1 to October 31
|
|
3,591
|
|
|
|
$42.68
|
|
|
—
|
|
N/A
|
November 1 to November 30
|
|
3,090
|
|
|
45.05
|
|
|
—
|
|
N/A
|
|
December 1 to December 31
|
|
175
|
|
|
43.62
|
|
|
—
|
|
N/A
|
|
|
|
6,856
|
|
|
43.77
|
|
|
—
|
|
|
(a)
|
All shares were purchased on the open market and held in a rabbi trust under the DCP. There is no limit on the number of shares of Alliant Energy common stock that may be held under the DCP, which currently does not have an expiration date.
|
|
22
|
|
Alliant Energy
|
2018 (a)
|
|
2017 (a)
|
|
2016 (a)
|
|
2015
|
|
2014
|
||||||||||
|
(dollars in millions, except per share data)
|
||||||||||||||||||
Income Statement Data:
|
|
||||||||||||||||||
Revenues
|
|
$3,534.5
|
|
|
|
$3,382.2
|
|
|
|
$3,320.0
|
|
|
|
$3,253.6
|
|
|
|
$3,350.3
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations, net of tax
|
512.1
|
|
|
455.9
|
|
|
373.8
|
|
|
380.7
|
|
|
385.5
|
|
|||||
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
1.4
|
|
|
(2.3
|
)
|
|
(2.5
|
)
|
|
(2.4
|
)
|
|||||
Net income
|
512.1
|
|
|
457.3
|
|
|
371.5
|
|
|
378.2
|
|
|
383.1
|
|
|||||
Common Stock Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted):
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations, net of tax
|
|
$2.19
|
|
|
|
$1.99
|
|
|
|
$1.65
|
|
|
|
$1.69
|
|
|
|
$1.74
|
|
Loss from discontinued operations, net of tax
|
|
$—
|
|
|
|
$—
|
|
|
|
($0.01
|
)
|
|
|
($0.01
|
)
|
|
|
($0.01
|
)
|
Net income
|
|
$2.19
|
|
|
|
$1.99
|
|
|
|
$1.64
|
|
|
|
$1.68
|
|
|
|
$1.73
|
|
Common shares outstanding at year-end (000s)
|
236,063
|
|
|
231,349
|
|
|
227,674
|
|
|
226,918
|
|
|
221,871
|
|
|||||
Dividends declared per common share
|
|
$1.34
|
|
|
|
$1.26
|
|
|
|
$1.175
|
|
|
|
$1.10
|
|
|
|
$1.02
|
|
Market value per share at year-end
|
|
$42.25
|
|
|
|
$42.61
|
|
|
|
$37.89
|
|
|
|
$31.225
|
|
|
|
$33.21
|
|
Book value per share at year-end
|
|
$19.43
|
|
|
|
$18.08
|
|
|
|
$16.96
|
|
|
|
$16.41
|
|
|
|
$15.50
|
|
Market capitalization at year-end
|
|
$9,973.7
|
|
|
|
$9,857.8
|
|
|
|
$8,626.6
|
|
|
|
$7,085.5
|
|
|
|
$7,368.3
|
|
Other Selected Financial Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash flows from operating activities (b)
|
|
$527.7
|
|
|
|
$521.6
|
|
|
|
$392.8
|
|
|
|
$871.2
|
|
|
|
$891.6
|
|
Construction and acquisition expenditures
|
|
$1,633.9
|
|
|
|
$1,466.9
|
|
|
|
$1,196.8
|
|
|
|
$1,034.3
|
|
|
|
$902.8
|
|
Total assets at year-end
|
|
$15,426.0
|
|
|
|
$14,187.8
|
|
|
|
$13,373.8
|
|
|
|
$12,495.2
|
|
|
|
$12,063.5
|
|
Long-term obligations, net
|
|
$5,506.1
|
|
|
|
$4,870.6
|
|
|
|
$4,325.1
|
|
|
|
$3,837.0
|
|
|
|
$3,768.7
|
|
IPL
|
|
|
|
|
|
|
|
|
|
||||||||||
Revenues
|
|
$2,042.3
|
|
|
|
$1,870.3
|
|
|
|
$1,820.4
|
|
|
|
$1,774.5
|
|
|
|
$1,848.1
|
|
Earnings available for common stock
|
264.0
|
|
|
216.8
|
|
|
215.6
|
|
|
186.0
|
|
|
181.6
|
|
|||||
Cash dividends declared on common stock
|
168.0
|
|
|
156.1
|
|
|
151.9
|
|
|
140.0
|
|
|
140.0
|
|
|||||
Cash flows from (used for) operating activities (b)
|
(5.0
|
)
|
|
(21.8
|
)
|
|
(104.9
|
)
|
|
385.0
|
|
|
406.1
|
|
|||||
Total assets
|
8,411.4
|
|
|
7,606.0
|
|
|
7,304.7
|
|
|
6,709.1
|
|
|
6,450.2
|
|
|||||
Long-term obligations, net
|
2,552.8
|
|
|
2,406.6
|
|
|
2,154.0
|
|
|
1,857.4
|
|
|
1,758.6
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
WPL
|
|
|
|
|
|
|
|
|
|
||||||||||
Revenues
|
|
$1,452.6
|
|
|
|
$1,472.8
|
|
|
|
$1,459.1
|
|
|
|
$1,435.1
|
|
|
|
$1,449.1
|
|
Earnings available for common stock
|
208.1
|
|
|
186.6
|
|
|
190.4
|
|
|
176.3
|
|
|
180.4
|
|
|||||
Cash dividends declared on common stock
|
140.1
|
|
|
125.9
|
|
|
135.0
|
|
|
126.9
|
|
|
118.7
|
|
|||||
Cash flows from operating activities
|
457.0
|
|
|
465.7
|
|
|
521.4
|
|
|
449.8
|
|
|
424.4
|
|
|||||
Total assets
|
6,152.5
|
|
|
5,756.5
|
|
|
5,290.3
|
|
|
5,270.4
|
|
|
5,117.6
|
|
|||||
Long-term obligations, net
|
1,905.4
|
|
|
1,914.3
|
|
|
1,623.2
|
|
|
1,624.2
|
|
|
1,658.3
|
|
(a)
|
Refer to “
Results of Operations
” in MDA for discussion of the
2018
,
2017
and
2016
results of operations.
|
(b)
|
Alliant Energy’s and IPL’s cash flows from operating activities were restated for 2017 and 2016 as a result of the adoption of a new cash flows presentation accounting standard as discussed in
Note 1(n)
. Alliant Energy’s and IPL’s cash flows from operating activities for 2015 and 2014 were not retrospectively amended for this new presentation standard as the information was not available due to the implementation of a new customer billing and information system in 2016.
|
|
23
|
|
•
|
Federal Tax Reform savings provided to retail electric and gas customers.
|
•
|
Amendment to shorten the term of the DAEC nuclear PPA and the execution of four new wind PPAs approved by the IUB in December 2018.
|
•
|
Rate settlement approved by the PSCW in December 2018 authorizing electric and gas base rates for WPL retail customers to remain flat until 2020.
|
•
|
Expansion of renewable generation with the required regulatory approvals and progress with construction of IPL’s new wind projects located in Iowa, as well as WPL’s acquisition of FWEC in April 2018.
|
•
|
Expansion of natural gas-fired generation with the construction of WPL’s West Riverside facility.
|
•
|
Completion of the remaining major environmental controls at IPL’s and WPL’s newer, larger and more efficient coal-fired generating units with the installation of an SCR at WPL’s Columbia Unit 2.
|
•
|
Progress with implementing advanced metering infrastructure for IPL customers.
|
|
24
|
|
•
|
Progress with certifying development-ready sites throughout Iowa and Wisconsin, including finalizing certification of the Big Cedar Industrial Center Mega-site, a 1,300-acre rail-served ready-to-build manufacturing and industrial site in Cedar Rapids, Iowa, which is in close proximity to the regional airport and interstate freeways and accesses IPL’s electric services.
|
|
2018
|
|
2017
|
||||||||||||
|
Income
|
|
EPS
|
|
Income
|
|
EPS
|
||||||||
Continuing operations:
|
|
|
|
|
|
|
|
||||||||
Utilities and Corporate Services
|
|
$485.7
|
|
|
|
$2.08
|
|
|
|
$416.7
|
|
|
|
$1.82
|
|
ATC Holdings
|
28.4
|
|
|
0.12
|
|
|
25.4
|
|
|
0.11
|
|
||||
Non-utility and Parent
|
(2.0
|
)
|
|
(0.01
|
)
|
|
13.8
|
|
|
0.06
|
|
||||
Income from continuing operations
|
512.1
|
|
|
2.19
|
|
|
455.9
|
|
|
1.99
|
|
||||
Income from discontinued operations
|
—
|
|
|
—
|
|
|
1.4
|
|
|
—
|
|
||||
Net income
|
|
$512.1
|
|
|
|
$2.19
|
|
|
|
$457.3
|
|
|
|
$1.99
|
|
|
25
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||||||||
Operating income
|
|
$694.4
|
|
|
|
$671.2
|
|
|
|
$554.1
|
|
|
|
$350.8
|
|
|
|
$304.1
|
|
|
|
$277.6
|
|
|
|
$312.9
|
|
|
|
$333.7
|
|
|
|
$337.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Electric utility revenues
|
|
$3,000.3
|
|
|
|
$2,894.7
|
|
|
|
$2,875.5
|
|
|
|
$1,731.1
|
|
|
|
$1,598.9
|
|
|
|
$1,569.7
|
|
|
|
$1,269.2
|
|
|
|
$1,295.8
|
|
|
|
$1,305.8
|
|
Electric production fuel and purchased power expenses
|
(855.0
|
)
|
|
(818.1
|
)
|
|
(854.0
|
)
|
|
(469.0
|
)
|
|
(443.6
|
)
|
|
(430.5
|
)
|
|
(386.0
|
)
|
|
(374.5
|
)
|
|
(423.5
|
)
|
|||||||||
Electric transmission service expense
|
(495.7
|
)
|
|
(480.9
|
)
|
|
(527.9
|
)
|
|
(352.9
|
)
|
|
(310.4
|
)
|
|
(359.7
|
)
|
|
(142.8
|
)
|
|
(170.5
|
)
|
|
(168.2
|
)
|
|||||||||
Utility Electric Margin (non-GAAP)
|
1,649.6
|
|
|
1,595.7
|
|
|
1,493.6
|
|
|
909.2
|
|
|
844.9
|
|
|
779.5
|
|
|
740.4
|
|
|
750.8
|
|
|
714.1
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Gas utility revenues
|
446.6
|
|
|
400.9
|
|
|
355.4
|
|
|
266.2
|
|
|
226.0
|
|
|
204.0
|
|
|
180.4
|
|
|
174.9
|
|
|
151.4
|
|
|||||||||
Cost of gas sold
|
(232.3
|
)
|
|
(211.4
|
)
|
|
(194.3
|
)
|
|
(129.6
|
)
|
|
(115.6
|
)
|
|
(111.0
|
)
|
|
(102.7
|
)
|
|
(95.8
|
)
|
|
(83.3
|
)
|
|||||||||
Utility Gas Margin (non-GAAP)
|
214.3
|
|
|
189.5
|
|
|
161.1
|
|
|
136.6
|
|
|
110.4
|
|
|
93.0
|
|
|
77.7
|
|
|
79.1
|
|
|
68.1
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Other utility revenues
|
48.0
|
|
|
47.5
|
|
|
48.6
|
|
|
45.0
|
|
|
45.4
|
|
|
46.7
|
|
|
3.0
|
|
|
2.1
|
|
|
1.9
|
|
|||||||||
Non-utility revenues
|
39.6
|
|
|
39.1
|
|
|
40.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Asset valuation charges for Franklin County wind farm
|
—
|
|
|
—
|
|
|
(86.4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Other operation and maintenance expenses
|
(645.8
|
)
|
|
(633.2
|
)
|
|
(589.4
|
)
|
|
(402.6
|
)
|
|
(396.6
|
)
|
|
(376.9
|
)
|
|
(241.6
|
)
|
|
(238.5
|
)
|
|
(209.6
|
)
|
|||||||||
Depreciation and amortization expenses
|
(506.9
|
)
|
|
(461.8
|
)
|
|
(411.6
|
)
|
|
(283.5
|
)
|
|
(245.0
|
)
|
|
(210.8
|
)
|
|
(219.4
|
)
|
|
(212.9
|
)
|
|
(192.5
|
)
|
|||||||||
Taxes other than income tax expense
|
(104.4
|
)
|
|
(105.6
|
)
|
|
(102.3
|
)
|
|
(53.9
|
)
|
|
(55.0
|
)
|
|
(53.9
|
)
|
|
(47.2
|
)
|
|
(46.9
|
)
|
|
(44.8
|
)
|
|||||||||
Operating income
|
|
$694.4
|
|
|
|
$671.2
|
|
|
|
$554.1
|
|
|
|
$350.8
|
|
|
|
$304.1
|
|
|
|
$277.6
|
|
|
|
$312.9
|
|
|
|
$333.7
|
|
|
|
$337.2
|
|
2018 vs. 2017:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Total higher utility electric margin variance (Refer to details below)
|
|
$54
|
|
|
|
$64
|
|
|
|
($10
|
)
|
Total higher utility gas margin variance (Refer to details below)
|
25
|
|
|
26
|
|
|
(1
|
)
|
|||
Total higher other operation and maintenance expenses variance (Refer to details below)
|
(13
|
)
|
|
(6
|
)
|
|
(3
|
)
|
|||
Higher depreciation and amortization expense, primarily due to new IPL depreciation rates effective May 2018 and additional plant in service in 2017 and 2018. Depreciation commenced on IPL’s Marshalltown Generating Station in April 2017.
|
(50
|
)
|
|
(44
|
)
|
|
(7
|
)
|
|||
Lower depreciation expense at IPL due to write-down of regulatory assets in 2017 resulting from the IPL electric rate review settlement (Refer to
Note 2
for details)
|
5
|
|
|
5
|
|
|
—
|
|
|||
Other
|
2
|
|
|
2
|
|
|
—
|
|
|||
|
|
$23
|
|
|
|
$47
|
|
|
|
($21
|
)
|
2017 vs. 2016:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Asset valuation charges for Franklin County wind farm in 2016 (Refer to
Note 3
for details)
|
|
$86
|
|
|
|
$—
|
|
|
|
$—
|
|
Total higher utility electric margin variance (Refer to details below)
|
102
|
|
|
65
|
|
|
37
|
|
|||
Total higher utility gas margin variance (Refer to details below)
|
28
|
|
|
17
|
|
|
11
|
|
|||
Higher other operation and maintenance expenses variance (Refer to details below)
|
(44
|
)
|
|
(20
|
)
|
|
(29
|
)
|
|||
Higher depreciation and amortization expense primarily due to additional plant in service in 2017, including impacts from Marshalltown
|
(33
|
)
|
|
(29
|
)
|
|
(8
|
)
|
|||
Higher depreciation expense at WPL due to updated depreciation rates effective January 2017 approved by the PSCW and FERC
|
(12
|
)
|
|
—
|
|
|
(12
|
)
|
|||
Higher depreciation expense at IPL due to write-down of regulatory assets in 2017 resulting from the IPL electric rate review settlement (Refer to
Note 2
for details)
|
(5
|
)
|
|
(5
|
)
|
|
—
|
|
|||
Other
|
(5
|
)
|
|
(1
|
)
|
|
(3
|
)
|
|||
|
|
$117
|
|
|
|
$27
|
|
|
|
($4
|
)
|
|
26
|
|
|
Revenues
|
|
MWhs Sold
|
|||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|||||||||
Alliant Energy
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Retail
|
|
$2,687.8
|
|
|
|
$2,569.6
|
|
|
|
$2,564.8
|
|
|
25,684
|
|
|
25,095
|
|
|
25,339
|
|
Sales for resale
|
259.2
|
|
|
268.8
|
|
|
266.7
|
|
|
5,804
|
|
|
5,003
|
|
|
4,399
|
|
|||
Other
|
53.3
|
|
|
56.3
|
|
|
44.0
|
|
|
96
|
|
|
94
|
|
|
100
|
|
|||
|
|
$3,000.3
|
|
|
|
$2,894.7
|
|
|
|
$2,875.5
|
|
|
31,584
|
|
|
30,192
|
|
|
29,838
|
|
IPL
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Retail
|
|
$1,578.2
|
|
|
|
$1,448.0
|
|
|
|
$1,442.5
|
|
|
14,670
|
|
|
14,356
|
|
|
14,523
|
|
Sales for resale
|
117.3
|
|
|
114.6
|
|
|
97.8
|
|
|
2,980
|
|
|
2,169
|
|
|
1,406
|
|
|||
Other
|
35.6
|
|
|
36.3
|
|
|
29.4
|
|
|
37
|
|
|
38
|
|
|
41
|
|
|||
|
|
$1,731.1
|
|
|
|
$1,598.9
|
|
|
|
$1,569.7
|
|
|
17,687
|
|
|
16,563
|
|
|
15,970
|
|
WPL
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Retail
|
|
$1,109.6
|
|
|
|
$1,121.6
|
|
|
|
$1,122.3
|
|
|
11,014
|
|
|
10,739
|
|
|
10,816
|
|
Sales for resale
|
141.9
|
|
|
154.2
|
|
|
168.9
|
|
|
2,824
|
|
|
2,834
|
|
|
2,993
|
|
|||
Other
|
17.7
|
|
|
20.0
|
|
|
14.6
|
|
|
59
|
|
|
56
|
|
|
59
|
|
|||
|
|
$1,269.2
|
|
|
|
$1,295.8
|
|
|
|
$1,305.8
|
|
|
13,897
|
|
|
13,629
|
|
|
13,868
|
|
|
Revenues
|
|
Dths Sold
|
|||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|||||||||
Alliant Energy
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Retail
|
|
$402.3
|
|
|
|
$364.6
|
|
|
|
$322.4
|
|
|
53,389
|
|
|
49,250
|
|
|
47,743
|
|
Transportation/Other
|
44.3
|
|
|
36.3
|
|
|
33.0
|
|
|
90,357
|
|
|
76,916
|
|
|
77,485
|
|
|||
|
|
$446.6
|
|
|
|
$400.9
|
|
|
|
$355.4
|
|
|
143,746
|
|
|
126,166
|
|
|
125,228
|
|
IPL
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Retail
|
|
$238.4
|
|
|
|
$202.2
|
|
|
|
$183.1
|
|
|
28,651
|
|
|
26,580
|
|
|
26,230
|
|
Transportation/Other
|
27.8
|
|
|
23.8
|
|
|
20.9
|
|
|
37,899
|
|
|
39,365
|
|
|
37,158
|
|
|||
|
|
$266.2
|
|
|
|
$226.0
|
|
|
|
$204.0
|
|
|
66,550
|
|
|
65,945
|
|
|
63,388
|
|
WPL
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Retail
|
|
$163.9
|
|
|
|
$162.4
|
|
|
|
$139.3
|
|
|
24,738
|
|
|
22,670
|
|
|
21,513
|
|
Transportation/Other
|
16.5
|
|
|
12.5
|
|
|
12.1
|
|
|
52,458
|
|
|
37,551
|
|
|
40,327
|
|
|||
|
|
$180.4
|
|
|
|
$174.9
|
|
|
|
$151.4
|
|
|
77,196
|
|
|
60,221
|
|
|
61,840
|
|
|
Electric Margins
|
|
Gas Margins
|
||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||
IPL
|
|
$20
|
|
|
|
($8
|
)
|
|
|
$3
|
|
|
|
$1
|
|
|
|
($4
|
)
|
|
|
($4
|
)
|
WPL
|
12
|
|
|
(8
|
)
|
|
1
|
|
|
2
|
|
|
(2
|
)
|
|
(3
|
)
|
||||||
Total Alliant Energy
|
|
$32
|
|
|
|
($16
|
)
|
|
|
$4
|
|
|
|
$3
|
|
|
|
($6
|
)
|
|
|
($7
|
)
|
|
27
|
|
2018 vs. 2017:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher revenues at IPL due to changes in electric tax benefit rider credits on customers’ bills (offset by changes in income tax expense)
|
|
$48
|
|
|
|
$48
|
|
|
|
$—
|
|
Estimated changes in sales volumes caused by temperatures (Refer to “Temperatures” above for details)
|
48
|
|
|
28
|
|
|
20
|
|
|||
Impact of IPL’s retail electric base rate increases (Refer to
Note 2
for details)
|
45
|
|
|
45
|
|
|
—
|
|
|||
Lower transmission cost recovery amortization at WPL (a)
|
26
|
|
|
—
|
|
|
26
|
|
|||
Changes in electric fuel-related costs, net of recoveries at WPL (b)
|
12
|
|
|
—
|
|
|
12
|
|
|||
Decrease in revenues due to Federal Tax Reform benefits returning to customers (offset by lower tax expense) (Refer to
Note 2
for details)
|
(80
|
)
|
|
(39
|
)
|
|
(41
|
)
|
|||
Lower wholesale margins primarily due to the expiration of wholesale power supply agreements in 2017 and 2018
|
(20
|
)
|
|
(8
|
)
|
|
(12
|
)
|
|||
Lower revenues at WPL due to its earnings sharing mechanism (Refer to
Note 2
for details)
|
(20
|
)
|
|
—
|
|
|
(20
|
)
|
|||
Lower revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (c)
|
(8
|
)
|
|
(8
|
)
|
|
—
|
|
|||
Other
|
3
|
|
|
(2
|
)
|
|
5
|
|
|||
|
|
$54
|
|
|
|
$64
|
|
|
|
($10
|
)
|
2017 vs. 2016:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Impact of IPL’s interim retail electric base rate increase (Refer to
Note 2
for details)
|
|
$77
|
|
|
|
$77
|
|
|
|
$—
|
|
Higher margins at WPL from the impact of its 2017/2018 Test Period retail electric base rate increase (Refer to
Note 2
for details)
|
63
|
|
|
—
|
|
|
63
|
|
|||
Higher revenues at IPL due to 2016 retail electric customer billing credits related to the approved retail electric base rate freeze through 2016
|
9
|
|
|
9
|
|
|
—
|
|
|||
Estimated changes in sales volumes caused by temperatures (Refer to “Temperatures” above for details)
|
(20
|
)
|
|
(11
|
)
|
|
(9
|
)
|
|||
Revenue requirement adjustment in 2016 related to IUB’s authorization to reduce certain tax benefits associated with changes in IPL’s tax accounting methods
|
(14
|
)
|
|
(14
|
)
|
|
—
|
|
|||
Changes in electric fuel-related costs, net of recoveries at WPL (b)
|
(12
|
)
|
|
—
|
|
|
(12
|
)
|
|||
Lower wholesale margins at WPL primarily due to the expiration of a wholesale power supply agreement on May 31, 2017
|
(8
|
)
|
|
—
|
|
|
(8
|
)
|
|||
Other
|
7
|
|
|
4
|
|
|
3
|
|
|||
|
|
$102
|
|
|
|
$65
|
|
|
|
$37
|
|
(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 increase (decrease) to electric margins from amounts within the approved bandwidth of plus or minus 2% of forecasted fuel-related expenses determined by the PSCW each year was approximately $6 million, ($6) million and $6 million in 2018, 2017 and 2016, respectively.
|
(c)
|
Changes in electric energy efficiency revenues were mostly offset by changes in energy efficiency expense included in other operation and maintenance expenses.
|
|
28
|
|
2018 vs. 2017:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (a)
|
|
$12
|
|
|
|
$12
|
|
|
|
$—
|
|
Estimated changes in sales volumes caused by temperatures (Refer to “Temperatures” above for details)
|
9
|
|
|
5
|
|
|
4
|
|
|||
Impact of IPL’s interim retail gas base rate increase (Refer to
Note 2
for details)
|
6
|
|
|
6
|
|
|
—
|
|
|||
Decrease in revenues due to Federal Tax Reform benefits returning to customers (offset by lower tax expense) (Refer to
Note 2
for details)
|
(6
|
)
|
|
(1
|
)
|
|
(5
|
)
|
|||
Higher revenues at IPL due to lower gas tax benefit rider credits on customer’s bills (offset by changes in tax expense)
|
4
|
|
|
4
|
|
|
—
|
|
|||
|
|
$25
|
|
|
|
$26
|
|
|
|
($1
|
)
|
2017 vs. 2016:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Impact of WPL’s retail gas base rate increase (Refer to
Note 2
for details)
|
|
$9
|
|
|
|
$—
|
|
|
|
$9
|
|
Higher revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (a)
|
8
|
|
|
8
|
|
|
—
|
|
|||
Higher revenues at IPL due to lower gas tax benefit rider credits on customer’s bills (offset by changes in tax expense)
|
6
|
|
|
6
|
|
|
—
|
|
|||
Estimated changes in sales volumes caused by temperatures (Refer to “Temperatures” above for details)
|
1
|
|
|
—
|
|
|
1
|
|
|||
Other
|
4
|
|
|
3
|
|
|
1
|
|
|||
|
|
$28
|
|
|
|
$17
|
|
|
|
$11
|
|
(a)
|
Changes in gas energy efficiency revenues were mostly offset by changes in energy efficiency expense included in other operation and maintenance expenses.
|
2018 vs. 2017:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher performance compensation expense
|
|
($11
|
)
|
|
|
($7
|
)
|
|
|
($4
|
)
|
Higher generation operation and maintenance expenses at WPL primarily attributed to higher facility outages during 2018 compared to 2017
|
(7
|
)
|
|
—
|
|
|
(7
|
)
|
|||
Higher energy efficiency expense at IPL (a)
|
(6
|
)
|
|
(6
|
)
|
|
—
|
|
|||
Higher bad debt expense
|
(5
|
)
|
|
(5
|
)
|
|
—
|
|
|||
Lower energy efficiency cost recovery amortizations at WPL (b)
|
13
|
|
|
—
|
|
|
13
|
|
|||
Charges related to cancelled software projects in 2017
|
6
|
|
|
3
|
|
|
3
|
|
|||
Write-down of regulatory assets in 2017 due to the IPL electric rate review settlement (Refer to
Note 2
for details)
|
4
|
|
|
4
|
|
|
—
|
|
|||
Other
|
(7
|
)
|
|
5
|
|
|
(8
|
)
|
|||
|
|
($13
|
)
|
|
|
($6
|
)
|
|
|
($3
|
)
|
2017 vs. 2016:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher energy efficiency cost recovery amortizations at WPL (b)
|
|
($27
|
)
|
|
|
$—
|
|
|
|
($27
|
)
|
Charges related to cancelled software projects in 2017
|
(6
|
)
|
|
(3
|
)
|
|
(3
|
)
|
|||
Write-down of regulatory assets in 2017 due to the IPL electric rate review settlement (Refer to
Note 2
for details)
|
(4
|
)
|
|
(4
|
)
|
|
—
|
|
|||
Higher energy efficiency expense at IPL (a)
|
(3
|
)
|
|
(3
|
)
|
|
—
|
|
|||
Other
|
(4
|
)
|
|
(10
|
)
|
|
1
|
|
|||
|
|
($44
|
)
|
|
|
($20
|
)
|
|
|
($29
|
)
|
(a)
|
Changes in IPL’s energy efficiency expense were offset by changes in electric and gas energy efficiency revenues.
|
(b)
|
The December 2016 PSCW order for WPL’s 2017/2018 Test Period electric and gas base rate review authorized changes in energy efficiency cost recovery amortizations for 2017 and 2018.
|
|
29
|
|
2018 vs. 2017:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher interest expense primarily due to higher average outstanding long-term debt balances (Refer to
Note 9(b)
for details)
|
|
($31
|
)
|
|
|
($7
|
)
|
|
|
($4
|
)
|
Higher equity income primarily due to increased earnings from non-utility wind farm (Refer to
Note 6
for details)
|
10
|
|
|
—
|
|
|
—
|
|
|||
Higher AFUDC primarily due to increased CWIP balances related to new wind generation and WPL’s West Riverside Energy Center
|
26
|
|
|
11
|
|
|
15
|
|
|||
Other
|
9
|
|
|
4
|
|
|
6
|
|
|||
|
|
$14
|
|
|
|
$8
|
|
|
|
$17
|
|
2017 vs. 2016:
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher interest expense primarily due to higher average outstanding long-term debt balances (Refer to
Note 9(b)
for details)
|
|
($19
|
)
|
|
|
($9
|
)
|
|
|
($2
|
)
|
Lower equity income at WPL due to the transfer of its interest in ATC to ATI on December 31, 2016 (Refer to
Note 6
for details)
|
—
|
|
|
—
|
|
|
(39
|
)
|
|||
Higher (lower) AFUDC primarily due to increased (decreased) CWIP balances
|
(13
|
)
|
|
(21
|
)
|
|
8
|
|
|||
Other
|
4
|
|
|
—
|
|
|
(1
|
)
|
|||
|
|
($28
|
)
|
|
|
($30
|
)
|
|
|
($34
|
)
|
•
|
Financing Plans -
Alliant Energy currently expects to issue up to $400 million of common stock in 2019 through the equity forward agreements that were executed in December 2018 and the 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.
|
•
|
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 on these rate reviews.
|
•
|
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.
|
|
30
|
|
Counterparty
|
|
Option Amount
|
|
Option Timing
|
Wisconsin Public Service Corporation (WPSC)
|
|
Up to 200 MW (no more than 100 MW to be acquired in first two years) (a)
|
|
2019-2023 (b)
|
Madison Gas and Electric Company (MGE)
|
|
Up to 50 MW (no more than 25 MW to be acquired in first two years)
|
|
2019-2024 (b)
|
Electric cooperatives
|
|
Approximately 60 MW
|
|
Exercised January 2018
|
(a)
|
If WPSC exercises its options, WPL may exercise reciprocal options, subject to approval by the PSCW, to purchase up to 200 MW of any natural-gas combined-cycle EGU that either WPSC or its affiliated utility, Wisconsin Electric Power Company, places in service within 10 years of the date West Riverside is placed in service.
|
(b)
|
Assumes an in-service date by the end of 2019.
|
•
|
Additional wind generation that qualifies for the full level of production tax credits, as long as the projects are located in Iowa. The 2016 and 2018 IUB decisions have cost caps of $1,830/kilowatt and $1,780/kilowatt, respectively, including AFUDC and transmission costs. Any costs incurred in excess of the respective cost caps are expected to be incorporated into rates if determined to be reasonable and prudent.
|
•
|
A depreciable life of the wind generation facilities of 40 years, unless changed as a result of a contested case before the IUB.
|
•
|
An 11.0% return on common equity, with the exception of certain transmission facilities classified as intangible assets, which would earn the rate of return on common equity the IUB finds reasonable in each future retail electric rate proceeding.
|
•
|
The 2016 IUB decision includes a return on common equity for the calculation of AFUDC during the construction period that is the greater of 10.0% or whatever percentage the IUB finds reasonable during IPL’s most recent retail electric rate proceeding. The 2018 IUB decision includes a 9.6% return on common equity for the calculation of AFUDC during the construction period.
|
•
|
The application of double leverage is deferred until a future retail electric rate proceeding.
|
•
|
Amortization over a 10-year period of IPL’s prudently incurred and unreimbursed costs, effective with a future retail electric base rate proceeding, if IPL cancels the construction of the wind generation facilities.
|
|
31
|
|
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
|
|
32
|
|
|
|
|
Average
|
|
Authorized Return
|
|
Common Equity
|
|
|
||
|
Regulatory
|
|
Rate Base
|
|
on Common
|
|
Component of Regulatory
|
|
Effective
|
||
|
Body
|
|
(in millions)
|
|
Equity (a)
|
|
Capital Structure
|
|
Date
|
||
IPL Retail Electric (2016 Test Year)
|
|
|
|
|
|
|
|
|
|
||
Marshalltown
|
IUB
|
|
|
$597
|
|
(b)
|
11.00%
|
|
49.0%
|
|
5/1/2018
|
Emery
|
IUB
|
|
197
|
|
(b)
|
12.23%
|
|
49.0%
|
|
5/1/2018
|
|
Whispering Willow - East
|
IUB
|
|
213
|
|
(b)
|
11.70%
|
|
49.0%
|
|
5/1/2018
|
|
Other
|
IUB
|
|
3,020
|
|
(b)
|
9.60%
|
|
49.0%
|
|
5/1/2018
|
|
IPL Retail Gas (2017 Test Year)
|
IUB
|
|
491
|
|
(b)
|
9.60%
|
|
51.0%
|
|
1/17/2019
|
|
IPL Wholesale Electric
|
FERC
|
|
113
|
|
|
10.97%
|
|
49.7%
|
|
1/1/2018
|
|
WPL Retail Electric and Gas
|
|
|
|
|
|
|
|
|
|
||
Electric (2019 Test Period)
|
PSCW
|
|
3,507
|
|
(c)
|
10.00%
|
|
52.6%
|
|
1/1/2019
|
|
Gas (2019 Test Period)
|
PSCW
|
|
363
|
|
(c)
|
10.00%
|
|
52.6%
|
|
1/1/2019
|
|
Electric (2020 Test Period)
|
PSCW
|
|
3,955
|
|
(c)
|
10.00%
|
|
52.5%
|
|
1/1/2020
|
|
Gas (2020 Test Period)
|
PSCW
|
|
387
|
|
(c)
|
10.00%
|
|
52.5%
|
|
1/1/2020
|
|
WPL Wholesale Electric
|
FERC
|
|
232
|
|
|
10.90%
|
|
55.0%
|
|
1/1/2018
|
(a)
|
Authorized returns on common equity may not be indicative of actual returns earned or projections of future returns.
|
(b)
|
Average rate base was calculated using balances as of the end of the test year, adjusted for post-test year capital additions placed in service by September 30 following the end of the test year.
|
(c)
|
Average rate base amounts reflect WPL’s allocated retail share of rate base and do not include CWIP 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 CWIP and a cash working capital allowance by adjusting the percentage return on rate base.
|
|
33
|
|
|
34
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||
|
2018
|
2017
|
2016
|
|
2018
|
2017
|
2016
|
|
2018
|
2017
|
2016
|
||||||||||||||||||
Cash, cash equivalents and restricted cash, January 1
|
|
$33.9
|
|
|
$13.1
|
|
|
$11.2
|
|
|
|
$7.2
|
|
|
$4.2
|
|
|
$7.2
|
|
|
|
$24.2
|
|
|
$6.9
|
|
|
$3.1
|
|
Cash flows from (used for):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Operating activities
|
527.7
|
|
521.6
|
|
392.8
|
|
|
(5.0
|
)
|
(21.8
|
)
|
(104.9
|
)
|
|
457.0
|
|
465.7
|
|
521.4
|
|
|||||||||
Investing activities
|
(1,066.8
|
)
|
(1,033.4
|
)
|
(720.2
|
)
|
|
(429.4
|
)
|
(241.9
|
)
|
(228.6
|
)
|
|
(607.5
|
)
|
(667.3
|
)
|
(478.9
|
)
|
|||||||||
Financing activities
|
530.7
|
|
532.6
|
|
329.3
|
|
|
439.6
|
|
266.7
|
|
330.5
|
|
|
135.5
|
|
218.9
|
|
(38.7
|
)
|
|||||||||
Net increase (decrease)
|
(8.4
|
)
|
20.8
|
|
1.9
|
|
|
5.2
|
|
3.0
|
|
(3.0
|
)
|
|
(15.0
|
)
|
17.3
|
|
3.8
|
|
|||||||||
Cash, cash equivalents and restricted cash, December 31
|
|
$25.5
|
|
|
$33.9
|
|
|
$13.1
|
|
|
|
$12.4
|
|
|
$7.2
|
|
|
$4.2
|
|
|
|
$9.2
|
|
|
$24.2
|
|
|
$6.9
|
|
|
35
|
|
2018 vs. 2017
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Increased collections from IPL’s and WPL’s retail customers caused by temperature impacts on electric and gas sales
|
|
$57
|
|
|
|
$33
|
|
|
|
$24
|
|
Changes in electric and gas tax benefit rider credits on customer bills at IPL
|
52
|
|
|
52
|
|
|
—
|
|
|||
Higher collections from IPL's retail electric base rate increases and interim retail gas base rates increases
|
51
|
|
|
51
|
|
|
—
|
|
|||
Changes in income taxes paid/refunded
|
6
|
|
|
(32
|
)
|
|
22
|
|
|||
Amounts refunded to customers in 2018 related to Federal Tax Reform (Refer to
Note 2
for details)
|
(66
|
)
|
|
(25
|
)
|
|
(41
|
)
|
|||
Changes in interest payments
|
(35
|
)
|
|
(9
|
)
|
|
(6
|
)
|
|||
Changes in the sales of accounts receivable at IPL
|
(30
|
)
|
|
(30
|
)
|
|
—
|
|
|||
Changes in cash collateral and deposit balances
|
(49
|
)
|
|
—
|
|
|
(32
|
)
|
|||
Other (primarily due to other changes in working capital)
|
20
|
|
|
(23
|
)
|
|
24
|
|
|||
|
|
$6
|
|
|
|
$17
|
|
|
|
($9
|
)
|
2017 vs. 2016
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher collections at IPL due to interim retail electric base rate increase effective April 13, 2017
|
|
$77
|
|
|
|
$77
|
|
|
|
$—
|
|
Higher collections at WPL due to new retail electric and gas base rates in 2017
|
72
|
|
|
—
|
|
|
72
|
|
|||
Changes in the sales of accounts receivable at IPL
|
33
|
|
|
33
|
|
|
—
|
|
|||
Changes in cash collateral balances
|
30
|
|
|
—
|
|
|
—
|
|
|||
Timing of WPL’s fuel-related cost recoveries from customers
|
(50
|
)
|
|
—
|
|
|
(50
|
)
|
|||
Lower distributions received at WPL from its interest in ATC due to the transfer of the interest in ATC to ATI on December 31, 2016
|
—
|
|
|
—
|
|
|
(27
|
)
|
|||
Changes in income taxes paid/refunded
|
(1
|
)
|
|
20
|
|
|
(36
|
)
|
|||
Other (primarily due to other changes in working capital)
|
(32
|
)
|
|
(47
|
)
|
|
(15
|
)
|
|||
|
|
$129
|
|
|
|
$83
|
|
|
|
($56
|
)
|
|
2018
|
|
2017
|
|
2016
|
||||||
IPL
|
|
($24
|
)
|
|
|
$9
|
|
|
|
($11
|
)
|
WPL
|
14
|
|
|
(8
|
)
|
|
28
|
|
|||
Other subsidiaries
|
5
|
|
|
(12
|
)
|
|
(27
|
)
|
|||
Alliant Energy
|
|
($5
|
)
|
|
|
($11
|
)
|
|
|
($10
|
)
|
2018 vs. 2017
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower (higher) utility construction expenditures (a)
|
|
($287
|
)
|
|
|
($315
|
)
|
|
|
$60
|
|
Changes in the amount of cash receipts on sold receivables
|
144
|
|
|
144
|
|
|
—
|
|
|||
Acquisition expenditures for non-utility wind farm in Oklahoma in 2017 (Refer to
Note 6
for details)
|
98
|
|
|
—
|
|
|
—
|
|
|||
Other
|
12
|
|
|
(17
|
)
|
|
—
|
|
|||
|
|
($33
|
)
|
|
|
($188
|
)
|
|
|
$60
|
|
|
36
|
|
2017 vs. 2016
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower (higher) utility construction expenditures (b)
|
|
($151
|
)
|
|
|
$14
|
|
|
|
($184
|
)
|
Acquisition expenditures for non-utility wind farm in Oklahoma in 2017
|
(98
|
)
|
|
—
|
|
|
—
|
|
|||
Proceeds from the liquidation of company-owned life insurance policies in 2016
|
(31
|
)
|
|
(19
|
)
|
|
—
|
|
|||
Other
|
(33
|
)
|
|
(8
|
)
|
|
(4
|
)
|
|||
|
|
($313
|
)
|
|
|
($13
|
)
|
|
|
($188
|
)
|
(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 WPL’s West Riverside facility, IPL’s Marshalltown facility, and IPL’s and WPL’s electric and gas distribution systems.
|
(b)
|
Largely due to higher expenditures for WPL’s West Riverside facility, IPL’s and WPL’s electric and gas distribution systems and IPL’s expansion of wind generation, partially offset by lower expenditures for IPL’s Marshalltown facility.
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|||||||||||||||||||||||||||||||||
|
2019
|
2020
|
2021
|
2022
|
|
2019
|
2020
|
2021
|
2022
|
|
2019
|
2020
|
2021
|
2022
|
||||||||||||||||||||||||
Generation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Renewable projects
|
|
$645
|
|
|
$200
|
|
|
$15
|
|
|
$125
|
|
|
|
$545
|
|
|
$100
|
|
|
$—
|
|
|
$5
|
|
|
|
$100
|
|
|
$100
|
|
|
$15
|
|
|
$120
|
|
West Riverside
|
130
|
|
15
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
130
|
|
15
|
|
—
|
|
—
|
|
||||||||||||
Other
|
85
|
|
135
|
|
155
|
|
200
|
|
|
55
|
|
75
|
|
90
|
|
135
|
|
|
30
|
|
60
|
|
65
|
|
65
|
|
||||||||||||
Distribution:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Electric systems
|
475
|
|
525
|
|
570
|
|
600
|
|
|
285
|
|
330
|
|
355
|
|
375
|
|
|
190
|
|
195
|
|
215
|
|
225
|
|
||||||||||||
Gas systems
|
100
|
|
245
|
|
125
|
|
175
|
|
|
50
|
|
65
|
|
80
|
|
115
|
|
|
50
|
|
180
|
|
45
|
|
60
|
|
||||||||||||
Other
|
175
|
|
165
|
|
180
|
|
210
|
|
|
20
|
|
30
|
|
20
|
|
20
|
|
|
15
|
|
10
|
|
10
|
|
15
|
|
||||||||||||
|
|
$1,610
|
|
|
$1,285
|
|
|
$1,045
|
|
|
$1,310
|
|
|
|
$955
|
|
|
$600
|
|
|
$545
|
|
|
$650
|
|
|
|
$515
|
|
|
$560
|
|
|
$350
|
|
|
$485
|
|
2018 vs. 2017
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Higher payments to retire long-term debt
|
|
($851
|
)
|
|
|
($350
|
)
|
|
|
$—
|
|
Net changes in the amount of commercial paper and other short-term borrowings outstanding
|
(145
|
)
|
|
50
|
|
|
108
|
|
|||
Higher (lower) net proceeds from issuance of long-term debt
|
950
|
|
|
250
|
|
|
(300
|
)
|
|||
Higher net proceeds from common stock issuances
|
47
|
|
|
—
|
|
|
—
|
|
|||
Higher capital contributions from IPL’s and WPL’s parent company, Alliant Energy
|
—
|
|
|
225
|
|
|
110
|
|
|||
Other
|
(3
|
)
|
|
(2
|
)
|
|
(1
|
)
|
|||
|
|
($2
|
)
|
|
|
$173
|
|
|
|
($83
|
)
|
|
37
|
|
2017 vs. 2016
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Lower payments to retire long-term debt
|
|
$309
|
|
|
|
$—
|
|
|
|
$—
|
|
Higher net proceeds from common stock issuances
|
123
|
|
|
—
|
|
|
—
|
|
|||
Net changes in the amount of commercial paper and other short-term borrowings outstanding
|
87
|
|
|
—
|
|
|
(60
|
)
|
|||
Higher (lower) net proceeds from issuance of long-term debt
|
(250
|
)
|
|
(50
|
)
|
|
300
|
|
|||
Higher capital contributions from IPL’s and WPL’s parent company, Alliant Energy
|
—
|
|
|
10
|
|
|
30
|
|
|||
Other (includes higher dividend payments in 2017)
|
(66
|
)
|
|
(24
|
)
|
|
(12
|
)
|
|||
|
|
$203
|
|
|
|
($64
|
)
|
|
|
$258
|
|
|
Initial Authorization
|
|
Remaining Capacity as of December 31, 2018
|
||||
Long-term debt securities issuances in aggregate
|
|
$1,100
|
|
|
|
$600
|
|
Short-term debt securities outstanding at any time (including borrowings from its parent)
|
300
|
|
|
250
|
|
||
Preferred stock issuances in aggregate
|
300
|
|
|
300
|
|
|
38
|
|
Company
|
|
Principal Amount
|
|
Type
|
|
Interest Rate
|
|
Maturity Date
|
|
Use of Proceeds
|
||
2017:
|
|
|
|
|
|
|
|
|
|
|
||
IPL
|
|
|
$250
|
|
|
Senior debentures
|
|
3.25%
|
|
Dec-2024
|
|
Reduce commercial paper classified as long-term debt, reduce cash amounts received from its sales of accounts receivable program and for general corporate purposes
|
WPL
|
|
|
$300
|
|
|
Debentures
|
|
3.05%
|
|
Oct-2027
|
|
Reduce commercial paper and for general corporate purposes
|
2016:
|
|
|
|
|
|
|
|
|
|
|
||
AEF
|
|
|
$500
|
|
|
Variable-rate term loan credit agreement
|
|
2% at December 31, 2017
|
|
Oct-2018
|
|
Retire borrowings under Alliant Energy’s and Franklin County Holdings LLC’s variable-rate term loan credit agreements that matured in 2016, reduce outstanding commercial paper and for general corporate purposes
|
IPL
|
|
300
|
|
|
Senior debentures
|
|
3.7%
|
|
Sep-2046
|
|
Reduce cash amounts received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt and for general corporate purposes
|
Company
|
|
Principal Amount
|
|
Type
|
|
Interest Rate
|
|
Retirement Date
|
||
2016:
|
|
|
|
|
|
|
|
|
||
Alliant Energy
|
|
|
$250
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2015
|
|
Oct-2016
|
Franklin County Holdings LLC
|
|
60
|
|
|
Variable-rate term loan credit agreement
|
|
1% at December 31, 2015
|
|
Oct-2016
|
|
39
|
|
|
|
Standard & Poor’s Ratings Services
|
|
Moody’s Investors Service
|
Alliant Energy:
|
Corporate/issuer
|
A-
|
|
Baa1
|
|
Commercial paper
|
A-2
|
|
P-2
|
|
Senior unsecured long-term debt
|
N/A
|
|
N/A
|
|
Outlook
|
Negative
|
|
Negative
|
IPL:
|
Corporate/issuer
|
A-
|
|
Baa1
|
|
Commercial paper
|
A-2
|
|
P-2
|
|
Senior unsecured long-term debt
|
A-
|
|
Baa1
|
|
Preferred stock
|
BBB
|
|
Baa3
|
|
Outlook
|
Negative
|
|
Negative
|
WPL:
|
Corporate/issuer
|
A
|
|
A2
|
|
Commercial paper
|
A-1
|
|
P-1
|
|
Senior unsecured long-term debt
|
A
|
|
A2
|
|
Outlook
|
Negative
|
|
Negative
|
Alliant Energy
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
Thereafter
|
|
Total
|
||||||||||||||
Other purchase obligations (
Note 17(b)
)
|
|
$575
|
|
|
|
$339
|
|
|
|
$297
|
|
|
|
$245
|
|
|
|
$233
|
|
|
|
$503
|
|
|
|
$2,192
|
|
Long-term debt maturities (
Note 9(b)
)
|
256
|
|
|
657
|
|
|
8
|
|
|
333
|
|
|
408
|
|
|
3,885
|
|
|
5,547
|
|
|||||||
Interest - long-term debt obligations
|
242
|
|
|
219
|
|
|
205
|
|
|
205
|
|
|
189
|
|
|
1,999
|
|
|
3,059
|
|
|||||||
Capital purchase obligations (
Note 17(a)
)
|
40
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
40
|
|
|||||||
Operating leases (
Note 10(a)
)
|
5
|
|
|
5
|
|
|
3
|
|
|
3
|
|
|
2
|
|
|
12
|
|
|
30
|
|
|||||||
|
|
$1,118
|
|
|
|
$1,220
|
|
|
|
$513
|
|
|
|
$786
|
|
|
|
$832
|
|
|
|
$6,399
|
|
|
|
$10,868
|
|
|
40
|
|
IPL
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
Thereafter
|
|
Total
|
||||||||||||||
Other purchase obligations (
Note 17(b)
)
|
|
$344
|
|
|
|
$222
|
|
|
|
$214
|
|
|
|
$184
|
|
|
|
$192
|
|
|
|
$390
|
|
|
|
$1,546
|
|
Long-term debt maturities (
Note 9(b)
)
|
—
|
|
|
200
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,375
|
|
|
2,575
|
|
|||||||
Interest - long-term debt obligations
|
111
|
|
|
111
|
|
|
104
|
|
|
104
|
|
|
104
|
|
|
1,069
|
|
|
1,603
|
|
|||||||
Capital purchase obligations (
Note 17(a)
)
|
14
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
14
|
|
|||||||
Operating leases (
Note 10(a)
)
|
3
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
12
|
|
|
23
|
|
|||||||
|
|
$472
|
|
|
|
$535
|
|
|
|
$320
|
|
|
|
$290
|
|
|
|
$298
|
|
|
|
$3,846
|
|
|
|
$5,761
|
|
WPL
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
Thereafter
|
|
Total
|
||||||||||||||
Other purchase obligations (
Note 17(b)
)
|
|
$218
|
|
|
|
$116
|
|
|
|
$83
|
|
|
|
$61
|
|
|
|
$41
|
|
|
|
$113
|
|
|
|
$632
|
|
Long-term debt maturities (
Note 9(b)
)
|
250
|
|
|
150
|
|
|
—
|
|
|
250
|
|
|
—
|
|
|
1,200
|
|
|
1,850
|
|
|||||||
Interest - long-term debt obligations
|
89
|
|
|
73
|
|
|
69
|
|
|
69
|
|
|
64
|
|
|
874
|
|
|
1,238
|
|
|||||||
Capital purchase obligations (
Note 17(a)
)
|
26
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
26
|
|
|||||||
Operating leases (
Note 10(a)
)
|
2
|
|
|
3
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|||||||
Capital lease - Sheboygan Falls Energy Facility (
Note 10(b)
)
|
15
|
|
|
15
|
|
|
15
|
|
|
15
|
|
|
15
|
|
|
19
|
|
|
94
|
|
|||||||
|
|
$600
|
|
|
|
$357
|
|
|
|
$168
|
|
|
|
$395
|
|
|
|
$120
|
|
|
|
$2,206
|
|
|
|
$3,846
|
|
|
41
|
|
|
42
|
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
Change in Actuarial Assumption
|
|
Impact on Projected Benefit Obligation at December 31, 2018
|
|
Impact on 2019 Net Periodic Benefit Costs
|
|
Impact on Accumulated Benefit Obligation at December 31, 2018
|
|
Impact on 2019 Net Periodic Benefit Costs
|
||||||||
Alliant Energy
|
|
|
|
|
|
|
|
|
||||||||
1% change in discount rate
|
|
|
$144
|
|
|
|
$9
|
|
|
|
$18
|
|
|
|
$2
|
|
1% change in expected rate of return
|
|
N/A
|
|
|
8
|
|
|
N/A
|
|
|
1
|
|
||||
IPL
|
|
|
|
|
|
|
|
|
||||||||
1% change in discount rate
|
|
67
|
|
|
5
|
|
|
7
|
|
|
1
|
|
||||
1% change in expected rate of return
|
|
N/A
|
|
|
4
|
|
|
N/A
|
|
|
1
|
|
||||
WPL
|
|
|
|
|
|
|
|
|
||||||||
1% change in discount rate
|
|
63
|
|
|
5
|
|
|
7
|
|
|
1
|
|
||||
1% change in expected rate of return
|
|
N/A
|
|
|
3
|
|
|
N/A
|
|
|
—
|
|
|
43
|
|
|
44
|
|
|
45
|
|
|
Year Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions, except per share amounts)
|
||||||||||
Revenues:
|
|
|
|
|
|
||||||
Electric utility
|
|
$3,000.3
|
|
|
|
$2,894.7
|
|
|
|
$2,875.5
|
|
Gas utility
|
446.6
|
|
|
400.9
|
|
|
355.4
|
|
|||
Other utility
|
48.0
|
|
|
47.5
|
|
|
48.6
|
|
|||
Non-utility
|
39.6
|
|
|
39.1
|
|
|
40.5
|
|
|||
Total revenues
|
3,534.5
|
|
|
3,382.2
|
|
|
3,320.0
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Electric production fuel and purchased power
|
855.0
|
|
|
818.1
|
|
|
854.0
|
|
|||
Electric transmission service
|
495.7
|
|
|
480.9
|
|
|
527.9
|
|
|||
Cost of gas sold
|
232.3
|
|
|
211.4
|
|
|
194.3
|
|
|||
Asset valuation charges for Franklin County wind farm
|
—
|
|
|
—
|
|
|
86.4
|
|
|||
Other operation and maintenance
|
645.8
|
|
|
633.2
|
|
|
589.4
|
|
|||
Depreciation and amortization
|
506.9
|
|
|
461.8
|
|
|
411.6
|
|
|||
Taxes other than income taxes
|
104.4
|
|
|
105.6
|
|
|
102.3
|
|
|||
Total operating expenses
|
2,840.1
|
|
|
2,711.0
|
|
|
2,765.9
|
|
|||
Operating income
|
694.4
|
|
|
671.2
|
|
|
554.1
|
|
|||
Other (income) and deductions:
|
|
|
|
|
|
||||||
Interest expense
|
247.0
|
|
|
215.6
|
|
|
196.2
|
|
|||
Equity income from unconsolidated investments, net
|
(54.6
|
)
|
|
(44.8
|
)
|
|
(39.6
|
)
|
|||
Allowance for funds used during construction
|
(75.6
|
)
|
|
(49.7
|
)
|
|
(62.5
|
)
|
|||
Other
|
7.6
|
|
|
17.3
|
|
|
16.6
|
|
|||
Total other (income) and deductions
|
124.4
|
|
|
138.4
|
|
|
110.7
|
|
|||
Income from continuing operations before income taxes
|
570.0
|
|
|
532.8
|
|
|
443.4
|
|
|||
Income taxes
|
47.7
|
|
|
66.7
|
|
|
59.4
|
|
|||
Income from continuing operations, net of tax
|
522.3
|
|
|
466.1
|
|
|
384.0
|
|
|||
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
1.4
|
|
|
(2.3
|
)
|
|||
Net income
|
522.3
|
|
|
467.5
|
|
|
381.7
|
|
|||
Preferred dividend requirements of Interstate Power and Light Company
|
10.2
|
|
|
10.2
|
|
|
10.2
|
|
|||
Net income attributable to Alliant Energy common shareowners
|
|
$512.1
|
|
|
|
$457.3
|
|
|
|
$371.5
|
|
Weighted average number of common shares outstanding (basic and diluted)
|
233.6
|
|
|
229.7
|
|
|
227.1
|
|
|||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted):
|
|
|
|
|
|
||||||
Income from continuing operations, net of tax
|
|
$2.19
|
|
|
|
$1.99
|
|
|
|
$1.65
|
|
Loss from discontinued operations, net of tax
|
—
|
|
|
—
|
|
|
(0.01
|
)
|
|||
Net income
|
|
$2.19
|
|
|
|
$1.99
|
|
|
|
$1.64
|
|
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
||||||
Income from continuing operations, net of tax
|
|
$512.1
|
|
|
|
$455.9
|
|
|
|
$373.8
|
|
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
1.4
|
|
|
(2.3
|
)
|
|||
Net income
|
|
$512.1
|
|
|
|
$457.3
|
|
|
|
$371.5
|
|
|
46
|
|
|
December 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$20.9
|
|
|
|
$27.9
|
|
Accounts receivable, less allowance for doubtful accounts
|
350.4
|
|
|
482.8
|
|
||
Production fuel, at weighted average cost
|
61.4
|
|
|
72.3
|
|
||
Gas stored underground, at weighted average cost
|
49.0
|
|
|
44.5
|
|
||
Materials and supplies, at weighted average cost
|
101.4
|
|
|
105.6
|
|
||
Regulatory assets
|
79.8
|
|
|
84.3
|
|
||
Prepaid gross receipts tax
|
42.2
|
|
|
41.3
|
|
||
Other
|
80.0
|
|
|
46.4
|
|
||
Total current assets
|
785.1
|
|
|
905.1
|
|
||
Property, plant and equipment, net
|
12,462.4
|
|
|
11,234.5
|
|
||
Investments:
|
|
|
|
||||
ATC Holdings
|
293.6
|
|
|
274.2
|
|
||
Other
|
137.7
|
|
|
121.9
|
|
||
Total investments
|
431.3
|
|
|
396.1
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,657.5
|
|
|
1,582.4
|
|
||
Deferred charges and other
|
89.7
|
|
|
69.7
|
|
||
Total other assets
|
1,747.2
|
|
|
1,652.1
|
|
||
Total assets
|
|
$15,426.0
|
|
|
|
$14,187.8
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$256.5
|
|
|
|
$855.7
|
|
Commercial paper
|
441.2
|
|
|
320.2
|
|
||
Other short-term borrowings
|
—
|
|
|
95.0
|
|
||
Accounts payable
|
543.3
|
|
|
477.3
|
|
||
Regulatory liabilities
|
142.7
|
|
|
140.0
|
|
||
Other
|
260.4
|
|
|
260.8
|
|
||
Total current liabilities
|
1,644.1
|
|
|
2,149.0
|
|
||
Long-term debt, net (excluding current portion)
|
5,246.3
|
|
|
4,010.6
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
1,603.1
|
|
|
1,478.4
|
|
||
Regulatory liabilities
|
1,350.5
|
|
|
1,357.2
|
|
||
Pension and other benefit obligations
|
509.1
|
|
|
504.0
|
|
||
Other
|
287.2
|
|
|
306.4
|
|
||
Total other liabilities
|
3,749.9
|
|
|
3,646.0
|
|
||
Commitments and contingencies (
Note 17
)
|
|
|
|
||||
Equity:
|
|
|
|
||||
Alliant Energy Corporation common equity:
|
|
|
|
||||
Common stock - $0.01 par value - 480,000,000 shares authorized; 236,063,279 and 231,348,646 shares outstanding
|
2.4
|
|
|
2.3
|
|
||
Additional paid-in capital
|
2,045.5
|
|
|
1,845.5
|
|
||
Retained earnings
|
2,545.9
|
|
|
2,346.0
|
|
||
Accumulated other comprehensive income (loss)
|
1.7
|
|
|
(0.5
|
)
|
||
Shares in deferred compensation trust - 384,580 and 463,365 shares at a weighted average cost of $25.60 and $23.91 per share
|
(9.8
|
)
|
|
(11.1
|
)
|
||
Total Alliant Energy Corporation common equity
|
4,585.7
|
|
|
4,182.2
|
|
||
Cumulative preferred stock of Interstate Power and Light Company
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
4,785.7
|
|
|
4,382.2
|
|
||
Total liabilities and equity
|
|
$15,426.0
|
|
|
|
$14,187.8
|
|
|
47
|
|
|
Year Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
|
$522.3
|
|
|
|
$467.5
|
|
|
|
$381.7
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
506.9
|
|
|
461.8
|
|
|
411.6
|
|
|||
Other amortizations
|
10.6
|
|
|
21.7
|
|
|
(4.8
|
)
|
|||
Deferred tax expense and tax credits
|
67.0
|
|
|
139.6
|
|
|
84.6
|
|
|||
Equity income from unconsolidated investments, net
|
(54.6
|
)
|
|
(44.8
|
)
|
|
(39.6
|
)
|
|||
Distributions from equity method investments
|
43.9
|
|
|
38.1
|
|
|
28.3
|
|
|||
Equity component of allowance for funds used during construction
|
(51.4
|
)
|
|
(33.6
|
)
|
|
(42.3
|
)
|
|||
Asset valuation charges for Franklin County wind farm
|
—
|
|
|
—
|
|
|
86.4
|
|
|||
Other
|
7.8
|
|
|
6.7
|
|
|
0.8
|
|
|||
Other changes in assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable
|
(475.4
|
)
|
|
(441.2
|
)
|
|
(572.2
|
)
|
|||
Regulatory assets
|
(16.2
|
)
|
|
(130.8
|
)
|
|
(3.6
|
)
|
|||
Regulatory liabilities
|
1.3
|
|
|
(83.8
|
)
|
|
(63.0
|
)
|
|||
Deferred income taxes
|
55.9
|
|
|
81.7
|
|
|
102.4
|
|
|||
Other
|
(90.4
|
)
|
|
38.7
|
|
|
22.5
|
|
|||
Net cash flows from operating activities
|
527.7
|
|
|
521.6
|
|
|
392.8
|
|
|||
Cash flows used for investing activities:
|
|
|
|
|
|
||||||
Construction and acquisition expenditures:
|
|
|
|
|
|
||||||
Utility business
|
(1,568.3
|
)
|
|
(1,281.8
|
)
|
|
(1,131.2
|
)
|
|||
Other
|
(65.6
|
)
|
|
(185.1
|
)
|
|
(65.6
|
)
|
|||
Cash receipts on sold receivables
|
605.3
|
|
|
461.8
|
|
|
466.8
|
|
|||
Other
|
(38.2
|
)
|
|
(28.3
|
)
|
|
9.8
|
|
|||
Net cash flows used for investing activities
|
(1,066.8
|
)
|
|
(1,033.4
|
)
|
|
(720.2
|
)
|
|||
Cash flows from financing activities:
|
|
|
|
|
|
||||||
Common stock dividends
|
(312.2
|
)
|
|
(288.3
|
)
|
|
(266.5
|
)
|
|||
Proceeds from issuance of common stock, net
|
196.6
|
|
|
149.6
|
|
|
26.6
|
|
|||
Proceeds from issuance of long-term debt
|
1,500.0
|
|
|
550.0
|
|
|
800.0
|
|
|||
Payments to retire long-term debt
|
(855.7
|
)
|
|
(4.6
|
)
|
|
(313.4
|
)
|
|||
Net change in commercial paper and other short-term borrowings
|
26.0
|
|
|
171.1
|
|
|
84.3
|
|
|||
Other
|
(24.0
|
)
|
|
(45.2
|
)
|
|
(1.7
|
)
|
|||
Net cash flows from financing activities
|
530.7
|
|
|
532.6
|
|
|
329.3
|
|
|||
Net increase (decrease) in cash, cash equivalents and restricted cash
|
(8.4
|
)
|
|
20.8
|
|
|
1.9
|
|
|||
Cash, cash equivalents and restricted cash at beginning of period
|
33.9
|
|
|
13.1
|
|
|
11.2
|
|
|||
Cash, cash equivalents and restricted cash at end of period
|
|
$25.5
|
|
|
|
$33.9
|
|
|
|
$13.1
|
|
Supplemental cash flows information:
|
|
|
|
|
|
||||||
Cash paid during the period for:
|
|
|
|
|
|
||||||
Interest, net of capitalized interest
|
|
($247.5
|
)
|
|
|
($212.6
|
)
|
|
|
($192.4
|
)
|
Income taxes, net
|
|
($5.0
|
)
|
|
|
($11.3
|
)
|
|
|
($9.8
|
)
|
Significant non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Accrued capital expenditures
|
|
$299.5
|
|
|
|
$196.5
|
|
|
|
$154.4
|
|
Beneficial interest obtained in exchange for securitized accounts receivable
|
|
$119.4
|
|
|
|
$222.1
|
|
|
|
$211.1
|
|
|
48
|
|
|
Total Alliant Energy Common Equity
|
|
|
|
|
||||||||||||||||||||||
|
|
|
|
|
|
|
Accumulated
|
|
Shares in
|
|
Cumulative
|
|
|
||||||||||||||
|
|
|
Additional
|
|
|
|
Other
|
|
Deferred
|
|
Preferred
|
|
|
||||||||||||||
|
Common
|
|
Paid-In
|
|
Retained
|
|
Comprehensive
|
|
Compensation
|
|
Stock
|
|
Total
|
||||||||||||||
|
Stock
|
|
Capital
|
|
Earnings
|
|
Income (Loss)
|
|
Trust
|
|
of IPL
|
|
Equity
|
||||||||||||||
|
(in millions)
|
||||||||||||||||||||||||||
2016:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Beginning balance
|
|
$2.3
|
|
|
|
$1,661.8
|
|
|
|
$2,068.9
|
|
|
|
($0.4
|
)
|
|
|
($8.5
|
)
|
|
|
$200.0
|
|
|
|
$3,924.1
|
|
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
371.5
|
|
|
|
|
|
|
|
|
371.5
|
|
||||||||||||
Common stock dividends ($1.175 per share)
|
|
|
|
|
(266.5
|
)
|
|
|
|
|
|
|
|
(266.5
|
)
|
||||||||||||
Common stock issued, net
|
|
|
|
26.6
|
|
|
|
|
|
|
|
|
|
|
26.6
|
|
|||||||||||
Other
|
|
|
4.7
|
|
|
3.1
|
|
|
|
|
(1.5
|
)
|
|
|
|
6.3
|
|
||||||||||
Ending balance
|
2.3
|
|
|
1,693.1
|
|
|
2,177.0
|
|
|
(0.4
|
)
|
|
(10.0
|
)
|
|
200.0
|
|
|
4,062.0
|
|
|||||||
2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
457.3
|
|
|
|
|
|
|
|
|
457.3
|
|
||||||||||||
Common stock dividends ($1.26 per share)
|
|
|
|
|
(288.3
|
)
|
|
|
|
|
|
|
|
(288.3
|
)
|
||||||||||||
Common stock issued, net
|
|
|
149.6
|
|
|
|
|
|
|
|
|
|
|
149.6
|
|
||||||||||||
Other
|
|
|
2.8
|
|
|
|
|
|
|
(1.1
|
)
|
|
|
|
1.7
|
|
|||||||||||
Other comprehensive loss, net of tax
|
|
|
|
|
|
|
(0.1
|
)
|
|
|
|
|
|
(0.1
|
)
|
||||||||||||
Ending balance
|
2.3
|
|
|
1,845.5
|
|
|
2,346.0
|
|
|
(0.5
|
)
|
|
(11.1
|
)
|
|
200.0
|
|
|
4,382.2
|
|
|||||||
2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
512.1
|
|
|
|
|
|
|
|
|
512.1
|
|
||||||||||||
Common stock dividends ($1.34 per share)
|
|
|
|
|
(312.2
|
)
|
|
|
|
|
|
|
|
(312.2
|
)
|
||||||||||||
Common stock issued, net
|
0.1
|
|
|
196.5
|
|
|
|
|
|
|
|
|
|
|
196.6
|
|
|||||||||||
Other
|
|
|
3.5
|
|
|
|
|
|
|
1.3
|
|
|
|
|
4.8
|
|
|||||||||||
Other comprehensive income, net of tax
|
|
|
|
|
|
|
2.2
|
|
|
|
|
|
|
2.2
|
|
||||||||||||
Ending balance
|
|
$2.4
|
|
|
|
$2,045.5
|
|
|
|
$2,545.9
|
|
|
|
$1.7
|
|
|
|
($9.8
|
)
|
|
|
$200.0
|
|
|
|
$4,785.7
|
|
|
49
|
|
|
50
|
|
|
Year Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Revenues:
|
|
|
|
|
|
||||||
Electric utility
|
|
$1,731.1
|
|
|
|
$1,598.9
|
|
|
|
$1,569.7
|
|
Gas utility
|
266.2
|
|
|
226.0
|
|
|
204.0
|
|
|||
Steam and other
|
45.0
|
|
|
45.4
|
|
|
46.7
|
|
|||
Total revenues
|
2,042.3
|
|
|
1,870.3
|
|
|
1,820.4
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Electric production fuel and purchased power
|
469.0
|
|
|
443.6
|
|
|
430.5
|
|
|||
Electric transmission service
|
352.9
|
|
|
310.4
|
|
|
359.7
|
|
|||
Cost of gas sold
|
129.6
|
|
|
115.6
|
|
|
111.0
|
|
|||
Other operation and maintenance
|
402.6
|
|
|
396.6
|
|
|
376.9
|
|
|||
Depreciation and amortization
|
283.5
|
|
|
245.0
|
|
|
210.8
|
|
|||
Taxes other than income taxes
|
53.9
|
|
|
55.0
|
|
|
53.9
|
|
|||
Total operating expenses
|
1,691.5
|
|
|
1,566.2
|
|
|
1,542.8
|
|
|||
Operating income
|
350.8
|
|
|
304.1
|
|
|
277.6
|
|
|||
Other (income) and deductions:
|
|
|
|
|
|
||||||
Interest expense
|
119.4
|
|
|
112.4
|
|
|
103.2
|
|
|||
Allowance for funds used during construction
|
(42.2
|
)
|
|
(31.4
|
)
|
|
(52.0
|
)
|
|||
Other
|
2.6
|
|
|
7.0
|
|
|
6.5
|
|
|||
Total other (income) and deductions
|
79.8
|
|
|
88.0
|
|
|
57.7
|
|
|||
Income before income taxes
|
271.0
|
|
|
216.1
|
|
|
219.9
|
|
|||
Income tax benefit
|
(3.2
|
)
|
|
(10.9
|
)
|
|
(5.9
|
)
|
|||
Net income
|
274.2
|
|
|
227.0
|
|
|
225.8
|
|
|||
Preferred dividend requirements
|
10.2
|
|
|
10.2
|
|
|
10.2
|
|
|||
Earnings available for common stock
|
|
$264.0
|
|
|
|
$216.8
|
|
|
|
$215.6
|
|
|
51
|
|
|
December 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$9.7
|
|
|
|
$3.6
|
|
Accounts receivable, less allowance for doubtful accounts
|
153.5
|
|
|
264.9
|
|
||
Production fuel, at weighted average cost
|
44.8
|
|
|
52.4
|
|
||
Gas stored underground, at weighted average cost
|
26.1
|
|
|
20.3
|
|
||
Materials and supplies, at weighted average cost
|
55.4
|
|
|
60.6
|
|
||
Regulatory assets
|
39.2
|
|
|
41.9
|
|
||
Other
|
43.1
|
|
|
32.3
|
|
||
Total current assets
|
371.8
|
|
|
476.0
|
|
||
Property, plant and equipment, net
|
6,781.5
|
|
|
5,926.2
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
1,239.8
|
|
|
1,189.7
|
|
||
Deferred charges and other
|
18.3
|
|
|
14.1
|
|
||
Total other assets
|
1,258.1
|
|
|
1,203.8
|
|
||
Total assets
|
|
$8,411.4
|
|
|
|
$7,606.0
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$—
|
|
|
|
$350.0
|
|
Commercial paper
|
50.4
|
|
|
—
|
|
||
Accounts payable
|
304.9
|
|
|
220.3
|
|
||
Accounts payable to associated companies
|
28.8
|
|
|
50.1
|
|
||
Regulatory liabilities
|
90.0
|
|
|
69.7
|
|
||
Accrued taxes
|
45.8
|
|
|
47.1
|
|
||
Accrued interest
|
31.2
|
|
|
32.1
|
|
||
Other
|
56.0
|
|
|
58.4
|
|
||
Total current liabilities
|
607.1
|
|
|
827.7
|
|
||
Long-term debt, net (excluding current portion)
|
2,552.3
|
|
|
2,056.0
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
957.3
|
|
|
910.7
|
|
||
Regulatory liabilities
|
664.9
|
|
|
685.7
|
|
||
Pension and other benefit obligations
|
178.4
|
|
|
173.8
|
|
||
Other
|
220.7
|
|
|
242.4
|
|
||
Total other liabilities
|
2,021.3
|
|
|
2,012.6
|
|
||
Commitments and contingencies (
Note 17
)
|
|
|
|
||||
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
|
2,222.8
|
|
|
1,797.8
|
|
||
Retained earnings
|
774.5
|
|
|
678.5
|
|
||
Total Interstate Power and Light Company common equity
|
3,030.7
|
|
|
2,509.7
|
|
||
Cumulative preferred stock
|
200.0
|
|
|
200.0
|
|
||
Total equity
|
3,230.7
|
|
|
2,709.7
|
|
||
Total liabilities and equity
|
|
$8,411.4
|
|
|
|
$7,606.0
|
|
|
52
|
|
|
Year Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Cash flows used for operating activities:
|
|
|
|
|
|
||||||
Net income
|
|
$274.2
|
|
|
|
$227.0
|
|
|
|
$225.8
|
|
Adjustments to reconcile net income to net cash flows used for operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
283.5
|
|
|
245.0
|
|
|
210.8
|
|
|||
Deferred tax expense and tax credits
|
2.2
|
|
|
55.8
|
|
|
35.6
|
|
|||
Equity component of allowance for funds used during construction
|
(28.6
|
)
|
|
(21.1
|
)
|
|
(35.2
|
)
|
|||
Other
|
3.6
|
|
|
1.5
|
|
|
2.9
|
|
|||
Other changes in assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable
|
(494.0
|
)
|
|
(478.7
|
)
|
|
(510.5
|
)
|
|||
Regulatory assets
|
(20.2
|
)
|
|
(126.2
|
)
|
|
(54.7
|
)
|
|||
Accounts payable
|
(24.9
|
)
|
|
24.0
|
|
|
8.0
|
|
|||
Regulatory liabilities
|
0.6
|
|
|
(71.2
|
)
|
|
(67.3
|
)
|
|||
Deferred income taxes
|
43.8
|
|
|
103.7
|
|
|
97.7
|
|
|||
Other
|
(45.2
|
)
|
|
18.4
|
|
|
(18.0
|
)
|
|||
Net cash flows used for operating activities
|
(5.0
|
)
|
|
(21.8
|
)
|
|
(104.9
|
)
|
|||
Cash flows used for investing activities:
|
|
|
|
|
|
||||||
Construction and acquisition expenditures
|
(990.7
|
)
|
|
(676.0
|
)
|
|
(689.7
|
)
|
|||
Cash receipts on sold receivables
|
605.3
|
|
|
461.8
|
|
|
466.8
|
|
|||
Other
|
(44.0
|
)
|
|
(27.7
|
)
|
|
(5.7
|
)
|
|||
Net cash flows used for investing activities
|
(429.4
|
)
|
|
(241.9
|
)
|
|
(228.6
|
)
|
|||
Cash flows from financing activities:
|
|
|
|
|
|
||||||
Common stock dividends
|
(168.0
|
)
|
|
(156.1
|
)
|
|
(151.9
|
)
|
|||
Capital contributions from parent
|
425.0
|
|
|
200.0
|
|
|
190.0
|
|
|||
Proceeds from issuance of long-term debt
|
500.0
|
|
|
250.0
|
|
|
300.0
|
|
|||
Payments to retire long-term debt
|
(350.0
|
)
|
|
—
|
|
|
—
|
|
|||
Net change in commercial paper
|
50.4
|
|
|
—
|
|
|
—
|
|
|||
Other
|
(17.8
|
)
|
|
(27.2
|
)
|
|
(7.6
|
)
|
|||
Net cash flows from financing activities
|
439.6
|
|
|
266.7
|
|
|
330.5
|
|
|||
Net increase (decrease) in cash, cash equivalents and restricted cash
|
5.2
|
|
|
3.0
|
|
|
(3.0
|
)
|
|||
Cash, cash equivalents and restricted cash at beginning of period
|
7.2
|
|
|
4.2
|
|
|
7.2
|
|
|||
Cash, cash equivalents and restricted cash at end of period
|
|
$12.4
|
|
|
|
$7.2
|
|
|
|
$4.2
|
|
Supplemental cash flows information:
|
|
|
|
|
|
||||||
Cash (paid) refunded during the period for:
|
|
|
|
|
|
||||||
Interest
|
|
($120.3
|
)
|
|
|
($111.8
|
)
|
|
|
($99.7
|
)
|
Income taxes, net
|
|
($23.8
|
)
|
|
|
$8.6
|
|
|
|
($11.1
|
)
|
Significant non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Accrued capital expenditures
|
|
$186.6
|
|
|
|
$76.4
|
|
|
|
$53.8
|
|
Beneficial interest obtained in exchange for securitized accounts receivable
|
|
$119.4
|
|
|
|
$222.1
|
|
|
|
$211.1
|
|
|
53
|
|
|
Total IPL Common Equity
|
|
|
|
|
||||||||||||||
|
|
|
Additional
|
|
|
|
Cumulative
|
|
|
||||||||||
|
Common
|
|
Paid-In
|
|
Retained
|
|
Preferred
|
|
Total
|
||||||||||
|
Stock
|
|
Capital
|
|
Earnings
|
|
Stock
|
|
Equity
|
||||||||||
|
(in millions)
|
||||||||||||||||||
2016:
|
|
|
|
|
|
|
|
|
|
||||||||||
Beginning balance
|
|
$33.4
|
|
|
|
$1,407.8
|
|
|
|
$554.1
|
|
|
|
$200.0
|
|
|
|
$2,195.3
|
|
Earnings available for common stock
|
|
|
|
|
215.6
|
|
|
|
|
215.6
|
|
||||||||
Common stock dividends
|
|
|
|
|
(151.9
|
)
|
|
|
|
(151.9
|
)
|
||||||||
Capital contribution from parent
|
|
|
190.0
|
|
|
|
|
|
|
190.0
|
|
||||||||
Ending balance
|
33.4
|
|
|
1,597.8
|
|
|
617.8
|
|
|
200.0
|
|
|
2,449.0
|
|
|||||
2017:
|
|
|
|
|
|
|
|
|
|
||||||||||
Earnings available for common stock
|
|
|
|
|
216.8
|
|
|
|
|
216.8
|
|
||||||||
Common stock dividends
|
|
|
|
|
(156.1
|
)
|
|
|
|
(156.1
|
)
|
||||||||
Capital contribution from parent
|
|
|
200.0
|
|
|
|
|
|
|
200.0
|
|
||||||||
Ending balance
|
33.4
|
|
|
1,797.8
|
|
|
678.5
|
|
|
200.0
|
|
|
2,709.7
|
|
|||||
2018:
|
|
|
|
|
|
|
|
|
|
||||||||||
Earnings available for common stock
|
|
|
|
|
264.0
|
|
|
|
|
264.0
|
|
||||||||
Common stock dividends
|
|
|
|
|
(168.0
|
)
|
|
|
|
(168.0
|
)
|
||||||||
Capital contribution from parent
|
|
|
425.0
|
|
|
|
|
|
|
425.0
|
|
||||||||
Ending balance
|
|
$33.4
|
|
|
|
$2,222.8
|
|
|
|
$774.5
|
|
|
|
$200.0
|
|
|
|
$3,230.7
|
|
|
54
|
|
|
55
|
|
|
Year Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Revenues:
|
|
|
|
|
|
||||||
Electric utility
|
|
$1,269.2
|
|
|
|
$1,295.8
|
|
|
|
$1,305.8
|
|
Gas utility
|
180.4
|
|
|
174.9
|
|
|
151.4
|
|
|||
Other
|
3.0
|
|
|
2.1
|
|
|
1.9
|
|
|||
Total revenues
|
1,452.6
|
|
|
1,472.8
|
|
|
1,459.1
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Electric production fuel and purchased power
|
386.0
|
|
|
374.5
|
|
|
423.5
|
|
|||
Electric transmission service
|
142.8
|
|
|
170.5
|
|
|
168.2
|
|
|||
Cost of gas sold
|
102.7
|
|
|
95.8
|
|
|
83.3
|
|
|||
Other operation and maintenance
|
241.6
|
|
|
238.5
|
|
|
209.6
|
|
|||
Depreciation and amortization
|
219.4
|
|
|
212.9
|
|
|
192.5
|
|
|||
Taxes other than income taxes
|
47.2
|
|
|
46.9
|
|
|
44.8
|
|
|||
Total operating expenses
|
1,139.7
|
|
|
1,139.1
|
|
|
1,121.9
|
|
|||
Operating income
|
312.9
|
|
|
333.7
|
|
|
337.2
|
|
|||
Other (income) and deductions:
|
|
|
|
|
|
||||||
Interest expense
|
97.8
|
|
|
93.8
|
|
|
91.4
|
|
|||
Equity income from unconsolidated investments
|
(0.9
|
)
|
|
(0.7
|
)
|
|
(39.8
|
)
|
|||
Allowance for funds used during construction
|
(33.4
|
)
|
|
(18.3
|
)
|
|
(10.5
|
)
|
|||
Other
|
5.1
|
|
|
10.4
|
|
|
10.0
|
|
|||
Total other (income) and deductions
|
68.6
|
|
|
85.2
|
|
|
51.1
|
|
|||
Income before income taxes
|
244.3
|
|
|
248.5
|
|
|
286.1
|
|
|||
Income taxes
|
36.2
|
|
|
61.9
|
|
|
93.3
|
|
|||
Net income
|
208.1
|
|
|
186.6
|
|
|
192.8
|
|
|||
Net income attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
2.4
|
|
|||
Earnings available for common stock
|
|
$208.1
|
|
|
|
$186.6
|
|
|
|
$190.4
|
|
|
56
|
|
|
December 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in millions, except per
share and share amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
|
$8.7
|
|
|
|
$23.1
|
|
Accounts receivable, less allowance for doubtful accounts
|
190.1
|
|
|
212.2
|
|
||
Production fuel, at weighted average cost
|
16.6
|
|
|
19.9
|
|
||
Gas stored underground, at weighted average cost
|
22.9
|
|
|
24.2
|
|
||
Materials and supplies, at weighted average cost
|
42.9
|
|
|
42.1
|
|
||
Regulatory assets
|
40.6
|
|
|
42.4
|
|
||
Prepaid gross receipts tax
|
42.2
|
|
|
41.3
|
|
||
Other
|
20.6
|
|
|
13.4
|
|
||
Total current assets
|
384.6
|
|
|
418.6
|
|
||
Property, plant and equipment, net
|
5,287.3
|
|
|
4,917.9
|
|
||
Other assets:
|
|
|
|
||||
Regulatory assets
|
417.7
|
|
|
392.7
|
|
||
Deferred charges and other
|
62.9
|
|
|
27.3
|
|
||
Total other assets
|
480.6
|
|
|
420.0
|
|
||
Total assets
|
|
$6,152.5
|
|
|
|
$5,756.5
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Current maturities of long-term debt
|
|
$250.0
|
|
|
|
$—
|
|
Commercial paper
|
105.5
|
|
|
25.0
|
|
||
Accounts payable
|
180.9
|
|
|
201.7
|
|
||
Accounts payable to associated companies
|
31.8
|
|
|
22.2
|
|
||
Regulatory liabilities
|
52.7
|
|
|
70.3
|
|
||
Accrued interest
|
25.5
|
|
|
25.6
|
|
||
Other
|
48.2
|
|
|
51.4
|
|
||
Total current liabilities
|
694.6
|
|
|
396.2
|
|
||
Long-term debt, net (excluding current portion)
|
1,584.9
|
|
|
1,833.4
|
|
||
Other liabilities:
|
|
|
|
||||
Deferred tax liabilities
|
582.0
|
|
|
522.4
|
|
||
Regulatory liabilities
|
685.6
|
|
|
671.5
|
|
||
Capital lease obligations - Sheboygan Falls Energy Facility
|
60.0
|
|
|
70.2
|
|
||
Pension and other benefit obligations
|
217.7
|
|
|
213.7
|
|
||
Other
|
178.2
|
|
|
167.6
|
|
||
Total other liabilities
|
1,723.5
|
|
|
1,645.4
|
|
||
Commitments and contingencies (
Note 17
)
|
|
|
|
||||
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
|
774.3
|
|
|
706.3
|
|
||
Total Wisconsin Power and Light Company common equity
|
2,149.5
|
|
|
1,881.5
|
|
||
Total liabilities and equity
|
|
$6,152.5
|
|
|
|
$5,756.5
|
|
|
57
|
|
|
Year Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net income
|
|
$208.1
|
|
|
|
$186.6
|
|
|
|
$192.8
|
|
Adjustments to reconcile net income to net cash flows from operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
219.4
|
|
|
212.9
|
|
|
192.5
|
|
|||
Other amortizations
|
5.8
|
|
|
17.7
|
|
|
(8.7
|
)
|
|||
Deferred tax expense and tax credits
|
49.8
|
|
|
53.9
|
|
|
114.5
|
|
|||
Other
|
(23.3
|
)
|
|
(13.3
|
)
|
|
(17.8
|
)
|
|||
Other changes in assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable
|
19.7
|
|
|
17.7
|
|
|
(47.6
|
)
|
|||
Regulatory assets
|
4.0
|
|
|
(4.7
|
)
|
|
51.1
|
|
|||
Other
|
(26.5
|
)
|
|
(5.1
|
)
|
|
44.6
|
|
|||
Net cash flows from operating activities
|
457.0
|
|
|
465.7
|
|
|
521.4
|
|
|||
Cash flows used for investing activities:
|
|
|
|
|
|
||||||
Construction and acquisition expenditures
|
(577.6
|
)
|
|
(637.4
|
)
|
|
(453.0
|
)
|
|||
Other
|
(29.9
|
)
|
|
(29.9
|
)
|
|
(25.9
|
)
|
|||
Net cash flows used for investing activities
|
(607.5
|
)
|
|
(667.3
|
)
|
|
(478.9
|
)
|
|||
Cash flows from (used for) financing activities:
|
|
|
|
|
|
||||||
Common stock dividends
|
(140.1
|
)
|
|
(125.9
|
)
|
|
(135.0
|
)
|
|||
Capital contribution from parent
|
200.0
|
|
|
90.0
|
|
|
60.0
|
|
|||
Proceeds from issuance of long-term debt
|
—
|
|
|
300.0
|
|
|
—
|
|
|||
Net change in commercial paper
|
80.5
|
|
|
(27.3
|
)
|
|
32.4
|
|
|||
Other
|
(4.9
|
)
|
|
(17.9
|
)
|
|
3.9
|
|
|||
Net cash flows from (used for) financing activities
|
135.5
|
|
|
218.9
|
|
|
(38.7
|
)
|
|||
Net increase (decrease) in cash, cash equivalents and restricted cash
|
(15.0
|
)
|
|
17.3
|
|
|
3.8
|
|
|||
Cash, cash equivalents and restricted cash at beginning of period
|
24.2
|
|
|
6.9
|
|
|
3.1
|
|
|||
Cash, cash equivalents and restricted cash at end of period
|
|
$9.2
|
|
|
|
$24.2
|
|
|
|
$6.9
|
|
Supplemental cash flows information:
|
|
|
|
|
|
||||||
Cash (paid) refunded during the period for:
|
|
|
|
|
|
||||||
Interest
|
|
($98.1
|
)
|
|
|
($91.7
|
)
|
|
|
($91.5
|
)
|
Income taxes, net
|
|
$14.0
|
|
|
|
($8.4
|
)
|
|
|
$27.8
|
|
Significant non-cash investing and financing activities:
|
|
|
|
|
|
||||||
Accrued capital expenditures
|
|
$102.5
|
|
|
|
$114.5
|
|
|
|
$93.1
|
|
Transfer of interest in ATC and tax liability to ATI
|
|
$—
|
|
|
|
$—
|
|
|
|
($163.6
|
)
|
|
58
|
|
|
Total WPL Common Equity
|
|
|
|
|
||||||||||||||
|
|
|
Additional
|
|
|
|
|
|
|
||||||||||
|
Common
|
|
Paid-In
|
|
Retained
|
|
Noncontrolling
|
|
Total
|
||||||||||
|
Stock
|
|
Capital
|
|
Earnings
|
|
Interest
|
|
Equity
|
||||||||||
|
(in millions)
|
||||||||||||||||||
2016:
|
|
|
|
|
|
|
|
|
|
||||||||||
Beginning balance
|
|
$66.2
|
|
|
|
$959.0
|
|
|
|
$731.1
|
|
|
|
$11.3
|
|
|
|
$1,767.6
|
|
Net income
|
|
|
|
|
190.4
|
|
|
2.4
|
|
|
192.8
|
|
|||||||
Common stock dividends
|
|
|
|
|
(135.0
|
)
|
|
|
|
(135.0
|
)
|
||||||||
Capital contribution from parent
|
|
|
60.0
|
|
|
|
|
|
|
60.0
|
|
||||||||
Contributions from noncontrolling interest
|
|
|
|
|
|
|
11.5
|
|
|
11.5
|
|
||||||||
Distributions to noncontrolling interest
|
|
|
|
|
|
|
(2.5
|
)
|
|
(2.5
|
)
|
||||||||
Transfer of interest in ATC to ATI
|
|
|
|
|
(140.9
|
)
|
|
(22.7
|
)
|
|
(163.6
|
)
|
|||||||
Ending balance
|
66.2
|
|
|
1,019.0
|
|
|
645.6
|
|
|
—
|
|
|
1,730.8
|
|
|||||
2017:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income
|
|
|
|
|
186.6
|
|
|
|
|
|
186.6
|
|
|||||||
Common stock dividends
|
|
|
|
|
(125.9
|
)
|
|
|
|
(125.9
|
)
|
||||||||
Capital contribution from parent
|
|
|
90.0
|
|
|
|
|
|
|
90.0
|
|
||||||||
Ending balance
|
66.2
|
|
|
1,109.0
|
|
|
706.3
|
|
|
—
|
|
|
1,881.5
|
|
|||||
2018:
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income
|
|
|
|
|
208.1
|
|
|
|
|
208.1
|
|
||||||||
Common stock dividends
|
|
|
|
|
(140.1
|
)
|
|
|
|
(140.1
|
)
|
||||||||
Capital contribution from parent
|
|
|
200.0
|
|
|
|
|
|
|
200.0
|
|
||||||||
Ending balance
|
|
$66.2
|
|
|
|
$1,309.0
|
|
|
|
$774.3
|
|
|
|
$—
|
|
|
|
$2,149.5
|
|
|
59
|
|
|
60
|
|
|
61
|
|
|
IPL
|
|
WPL
|
||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
Electric - generation
|
3.6%
|
|
3.5%
|
|
3.5%
|
|
3.6%
|
|
3.5%
|
|
3.1%
|
Electric - distribution
|
2.8%
|
|
2.4%
|
|
2.4%
|
|
2.6%
|
|
2.6%
|
|
2.6%
|
Electric - other
|
4.7%
|
|
4.5%
|
|
4.2%
|
|
5.7%
|
|
6.9%
|
|
4.7%
|
Gas
|
3.2%
|
|
3.4%
|
|
3.3%
|
|
2.5%
|
|
2.5%
|
|
2.5%
|
Other
|
5.2%
|
|
4.0%
|
|
3.9%
|
|
5.8%
|
|
6.0%
|
|
5.9%
|
|
62
|
|
|
63
|
|
|
64
|
|
|
65
|
|
|
66
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Tax-related
|
|
$820.6
|
|
|
|
$778.2
|
|
|
|
$783.1
|
|
|
|
$750.5
|
|
|
|
$37.5
|
|
|
|
$27.7
|
|
Pension and OPEB costs
|
542.3
|
|
|
548.0
|
|
|
274.0
|
|
|
274.4
|
|
|
268.3
|
|
|
273.6
|
|
||||||
EGUs retired early
|
111.6
|
|
|
63.8
|
|
|
55.4
|
|
|
31.6
|
|
|
56.2
|
|
|
32.2
|
|
||||||
AROs
|
110.8
|
|
|
109.3
|
|
|
76.3
|
|
|
72.5
|
|
|
34.5
|
|
|
36.8
|
|
||||||
Derivatives
|
28.0
|
|
|
45.3
|
|
|
15.1
|
|
|
21.8
|
|
|
12.9
|
|
|
23.5
|
|
||||||
Emission allowances
|
23.6
|
|
|
25.5
|
|
|
23.6
|
|
|
25.5
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
100.4
|
|
|
96.6
|
|
|
51.5
|
|
|
55.3
|
|
|
48.9
|
|
|
41.3
|
|
||||||
|
|
$1,737.3
|
|
|
|
$1,666.7
|
|
|
|
$1,279.0
|
|
|
|
$1,231.6
|
|
|
|
$458.3
|
|
|
|
$435.1
|
|
Entity
|
|
EGU
|
|
Retirement Date
|
|
Regulatory Asset Balance as of Dec. 31, 2018
|
|
Recovery
|
|
Regulatory Approval
|
||
IPL
|
|
Sutherland Units 1 and 3
|
|
June 2017
|
|
|
$27.6
|
|
|
Return of remaining net book value over 10 years
|
|
IUB and FERC
|
IPL
|
|
M.L. Kapp Unit 2
|
|
June 2018
|
|
27.8
|
|
|
Return of and return on remaining net book value over 10 years
|
|
Pending with FERC; to be addressed with IUB
|
|
WPL
|
|
Nelson Dewey Units 1 and 2 and Edgewater Unit 3
|
|
December 2015
|
|
27.4
|
|
|
Return of and return on remaining net book value over 10 years
|
|
PSCW and FERC
|
|
WPL
|
|
Edgewater Unit 4
|
|
September 2018
|
|
28.8
|
|
|
Return of and return on remaining net book value over 10 years
|
|
PSCW and pending with FERC
|
|
67
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Tax-related
|
|
$890.6
|
|
|
|
$899.4
|
|
|
|
$390.1
|
|
|
|
$399.5
|
|
|
|
$500.5
|
|
|
|
$499.9
|
|
Cost of removal obligations
|
401.2
|
|
|
410.0
|
|
|
273.3
|
|
|
274.5
|
|
|
127.9
|
|
|
135.5
|
|
||||||
Electric transmission cost recovery
|
104.0
|
|
|
90.4
|
|
|
47.7
|
|
|
26.4
|
|
|
56.3
|
|
|
64.0
|
|
||||||
WPL earnings sharing mechanism
|
25.4
|
|
|
8.0
|
|
|
—
|
|
|
—
|
|
|
25.4
|
|
|
8.0
|
|
||||||
Commodity cost recovery
|
16.8
|
|
|
21.0
|
|
|
11.9
|
|
|
14.6
|
|
|
4.9
|
|
|
6.4
|
|
||||||
IPL’s tax benefit riders
|
6.4
|
|
|
25.0
|
|
|
6.4
|
|
|
25.0
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
48.8
|
|
|
43.4
|
|
|
25.5
|
|
|
15.4
|
|
|
23.3
|
|
|
28.0
|
|
||||||
|
|
$1,493.2
|
|
|
|
$1,497.2
|
|
|
|
$754.9
|
|
|
|
$755.4
|
|
|
|
$738.3
|
|
|
|
$741.8
|
|
|
68
|
|
Electric tax benefit rider credits
|
|
$17
|
|
Gas tax benefit rider credits
|
2
|
|
|
|
|
$19
|
|
|
69
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Utility:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Electric plant:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Generation in service
|
|
$6,800.6
|
|
|
|
$6,655.3
|
|
|
|
$3,610.4
|
|
|
|
$3,715.9
|
|
|
|
$3,190.2
|
|
|
|
$2,939.4
|
|
Distribution in service
|
5,452.2
|
|
|
5,123.5
|
|
|
3,023.7
|
|
|
2,820.9
|
|
|
2,428.5
|
|
|
2,302.6
|
|
||||||
Other in service
|
410.8
|
|
|
425.1
|
|
|
260.4
|
|
|
282.3
|
|
|
150.4
|
|
|
142.8
|
|
||||||
Anticipated to be retired early (a)
|
—
|
|
|
93.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
93.0
|
|
||||||
Total electric plant
|
12,663.6
|
|
|
12,296.9
|
|
|
6,894.5
|
|
|
6,819.1
|
|
|
5,769.1
|
|
|
5,477.8
|
|
||||||
Gas plant in service
|
1,387.6
|
|
|
1,244.0
|
|
|
763.1
|
|
|
654.8
|
|
|
624.5
|
|
|
589.2
|
|
||||||
Other plant in service
|
513.2
|
|
|
571.9
|
|
|
322.4
|
|
|
333.4
|
|
|
190.8
|
|
|
238.5
|
|
||||||
Accumulated depreciation
|
(4,314.6
|
)
|
|
(4,283.1
|
)
|
|
(2,294.7
|
)
|
|
(2,311.0
|
)
|
|
(2,019.9
|
)
|
|
(1,972.1
|
)
|
||||||
Net plant
|
10,249.8
|
|
|
9,829.7
|
|
|
5,685.3
|
|
|
5,496.3
|
|
|
4,564.5
|
|
|
4,333.4
|
|
||||||
Leased Sheboygan Falls Energy Facility, net (b)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
38.1
|
|
|
46.2
|
|
||||||
Construction work in progress
|
1,774.8
|
|
|
962.2
|
|
|
1,091.2
|
|
|
424.4
|
|
|
683.6
|
|
|
537.8
|
|
||||||
Other, net
|
6.1
|
|
|
6.0
|
|
|
5.0
|
|
|
5.5
|
|
|
1.1
|
|
|
0.5
|
|
||||||
Total utility
|
12,030.7
|
|
|
10,797.9
|
|
|
6,781.5
|
|
|
5,926.2
|
|
|
5,287.3
|
|
|
4,917.9
|
|
||||||
Non-utility and other:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-utility Generation, net (c)
|
86.9
|
|
|
90.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Corporate Services and other, net (d)
|
344.8
|
|
|
345.7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total non-utility and other
|
431.7
|
|
|
436.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Total property, plant and equipment
|
|
$12,462.4
|
|
|
|
$11,234.5
|
|
|
|
$6,781.5
|
|
|
|
$5,926.2
|
|
|
|
$5,287.3
|
|
|
|
$4,917.9
|
|
(a)
|
In 2018, WPL retired Edgewater Unit 4 and reclassified the remaining net book value of this EGU from property, plant and equipment to a regulatory asset on Alliant Energy’s and WPL’s balance sheets.
|
(b)
|
Less accumulated amortization of
$82.8 million
and
$77.6 million
for WPL as of
December 31, 2018
and
2017
, respectively. The Sheboygan Falls Energy Facility is eliminated from WPL upon consolidation and is included in the “Non-utility Generation, net” line within Alliant Energy’s consolidated property, plant and equipment.
|
(c)
|
Less accumulated depreciation of
$54.5 million
and
$50.5 million
for Alliant Energy as of
December 31, 2018
and
2017
, respectively.
|
(d)
|
Less accumulated depreciation of
$167.5 million
and
$285.6 million
for Alliant Energy as of
December 31, 2018
and
2017
, respectively.
|
Property, plant and equipment, net
|
|
$81
|
|
Liabilities
|
7
|
|
|
Net assets acquired
|
|
$74
|
|
|
70
|
|
Electric plant in service
|
|
$40
|
|
Current assets
|
2
|
|
|
Total assets acquired
|
42
|
|
|
Other liabilities
|
10
|
|
|
Net assets acquired
|
|
$32
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||||||||
Equity
|
|
$51.4
|
|
|
|
$33.6
|
|
|
|
$42.3
|
|
|
|
$28.6
|
|
|
|
$21.1
|
|
|
|
$35.2
|
|
|
|
$22.8
|
|
|
|
$12.5
|
|
|
|
$7.1
|
|
Debt
|
24.2
|
|
|
16.1
|
|
|
20.2
|
|
|
13.6
|
|
|
10.3
|
|
|
16.8
|
|
|
10.6
|
|
|
5.8
|
|
|
3.4
|
|
|||||||||
|
|
$75.6
|
|
|
|
$49.7
|
|
|
|
$62.5
|
|
|
|
$42.2
|
|
|
|
$31.4
|
|
|
|
$52.0
|
|
|
|
$33.4
|
|
|
|
$18.3
|
|
|
|
$10.5
|
|
|
Ownership
|
|
Electric
|
|
Accumulated Provision
|
|
Construction
|
|||||||
|
Interest %
|
|
Plant
|
|
for Depreciation
|
|
Work in Progress
|
|||||||
IPL
|
|
|
|
|
|
|
|
|||||||
Ottumwa Unit 1
|
48.0
|
%
|
|
|
$507.1
|
|
|
|
$161.7
|
|
|
|
$65.3
|
|
George Neal Unit 4
|
25.7
|
%
|
|
187.3
|
|
|
89.8
|
|
|
1.2
|
|
|||
George Neal Unit 3
|
28.0
|
%
|
|
156.7
|
|
|
57.8
|
|
|
1.4
|
|
|||
Louisa Unit 1
|
4.0
|
%
|
|
39.2
|
|
|
23.9
|
|
|
0.8
|
|
|||
|
|
|
890.3
|
|
|
333.2
|
|
|
68.7
|
|
||||
WPL
|
|
|
|
|
|
|
|
|||||||
Columbia Units 1-2
|
52.5
|
%
|
|
779.4
|
|
|
247.9
|
|
|
9.8
|
|
|||
FWEC
|
42.6
|
%
|
|
119.7
|
|
|
41.2
|
|
|
0.1
|
|
|||
West Riverside (a)
|
91.8
|
%
|
|
—
|
|
|
—
|
|
|
538.4
|
|
|||
|
|
|
899.1
|
|
|
289.1
|
|
|
548.3
|
|
||||
Alliant Energy
|
|
|
|
$1,789.4
|
|
|
|
$622.3
|
|
|
|
$617.0
|
|
(a)
|
In January 2018, certain electric cooperatives, which currently have wholesale power supply agreements with WPL, acquired a partial ownership interest in West Riverside.
|
|
71
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Customer
|
|
$91.0
|
|
|
|
$103.3
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$84.8
|
|
|
|
$97.7
|
|
Unbilled utility revenues
|
74.2
|
|
|
85.1
|
|
|
—
|
|
|
—
|
|
|
74.2
|
|
|
85.1
|
|
||||||
Deferred proceeds
|
119.4
|
|
|
222.1
|
|
|
119.4
|
|
|
222.1
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
76.3
|
|
|
84.3
|
|
|
37.2
|
|
|
44.1
|
|
|
38.5
|
|
|
40.1
|
|
||||||
Allowance for doubtful accounts
|
(10.5
|
)
|
|
(12.0
|
)
|
|
(3.1
|
)
|
|
(1.3
|
)
|
|
(7.4
|
)
|
|
(10.7
|
)
|
||||||
|
|
$350.4
|
|
|
|
$482.8
|
|
|
|
$153.5
|
|
|
|
$264.9
|
|
|
|
$190.1
|
|
|
|
$212.2
|
|
|
Maximum
|
|
Average
|
||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
Outstanding aggregate cash proceeds
|
$116.0
|
|
$112.0
|
|
$172.0
|
|
$53.4
|
|
$62.2
|
|
$73.2
|
|
2018
|
|
2017
|
Customer accounts receivable
|
$140.1
|
|
$133.8
|
Unbilled utility revenues
|
97.1
|
|
112.7
|
Other receivables
|
0.1
|
|
0.3
|
Receivables sold to third party
|
237.3
|
|
246.8
|
Less: cash proceeds
|
108.0
|
|
12.0
|
Deferred proceeds
|
129.3
|
|
234.8
|
Less: allowance for doubtful accounts
|
9.9
|
|
12.7
|
Fair value of deferred proceeds
|
$119.4
|
|
$222.1
|
Outstanding receivables past due
|
$35.5
|
|
$44.7
|
|
2018
|
|
2017
|
|
2016
|
Collections
|
$2,076.7
|
|
$1,647.1
|
|
$1,818.1
|
Write-offs, net of recoveries
|
21.3
|
|
17.7
|
|
4.8
|
|
72
|
|
|
Ownership Interest at
|
|
Carrying Value at December 31,
|
|
Equity (Income) / Loss
|
||||||||||||||||
|
December 31, 2018
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2016
|
||||||||||
Alliant Energy
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ATC Holdings (a)
|
16%-20%
|
|
|
$293.6
|
|
|
|
$274.2
|
|
|
|
($38.1
|
)
|
|
|
($42.4
|
)
|
|
|
($39.1
|
)
|
Non-utility wind farm in Oklahoma
|
50%
|
|
105.1
|
|
|
98.3
|
|
|
(15.6
|
)
|
|
(1.8
|
)
|
|
—
|
|
|||||
Other
|
Various
|
|
22.6
|
|
|
8.9
|
|
|
(0.9
|
)
|
|
(0.6
|
)
|
|
(0.5
|
)
|
|||||
|
|
|
|
$421.3
|
|
|
|
$381.4
|
|
|
|
($54.6
|
)
|
|
|
($44.8
|
)
|
|
|
($39.6
|
)
|
WPL
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ATC
|
—%
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
($39.1
|
)
|
Wisconsin River Power Company
|
50%
|
|
8.1
|
|
|
8.3
|
|
|
(0.9
|
)
|
|
(0.7
|
)
|
|
(0.7
|
)
|
|||||
|
|
|
|
$8.1
|
|
|
|
$8.3
|
|
|
|
($0.9
|
)
|
|
|
($0.7
|
)
|
|
|
($39.8
|
)
|
(a)
|
As of
December 31, 2018
, Alliant Energy’s interest in ATC Holdings is comprised of a
16%
ownership interest in ATC and a
20%
ownership interest in ATC Holdco LLC, which are described below. Alliant Energy currently has the ability to exercise significant influence over ATC’s and ATC Holdco LLC’s financial and operating policies through its participation on ATC’s Board of Directors.
|
|
Alliant Energy
|
|
WPL
|
||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||
Revenues
|
|
$724
|
|
|
|
$741
|
|
|
|
$658
|
|
|
|
$8
|
|
|
|
$8
|
|
|
|
$658
|
|
Operating income
|
325
|
|
|
374
|
|
|
331
|
|
|
2
|
|
|
4
|
|
|
331
|
|
||||||
Net income
|
217
|
|
|
267
|
|
|
232
|
|
|
1
|
|
|
2
|
|
|
234
|
|
||||||
As of December 31:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Current assets
|
144
|
|
|
104
|
|
|
|
|
4
|
|
|
7
|
|
|
|
||||||||
Non-current assets
|
5,498
|
|
|
5,041
|
|
|
|
|
19
|
|
|
20
|
|
|
|
||||||||
Current liabilities
|
644
|
|
|
770
|
|
|
|
|
1
|
|
|
2
|
|
|
|
||||||||
Non-current liabilities
|
2,315
|
|
|
2,038
|
|
|
|
|
6
|
|
|
8
|
|
|
|
||||||||
Noncontrolling interest
|
223
|
|
|
255
|
|
|
|
|
—
|
|
|
—
|
|
|
|
|
73
|
|
|
2018
|
|
2017
|
|
2016
|
|||
Shares outstanding, January 1
|
231,348,646
|
|
|
227,673,654
|
|
|
226,918,432
|
|
At-the-market offering programs
|
4,171,013
|
|
|
3,074,931
|
|
|
—
|
|
Shareowner Direct Plan issuances
|
576,965
|
|
|
640,723
|
|
|
732,814
|
|
Equity-based compensation plans (
Note 13(b)
)
|
5,078
|
|
|
5,185
|
|
|
22,408
|
|
Other
|
(38,423
|
)
|
|
(45,847
|
)
|
|
—
|
|
Shares outstanding, December 31
|
236,063,279
|
|
|
231,348,646
|
|
|
227,673,654
|
|
|
74
|
|
Series
|
|
Liquidation Preference/Stated Value
|
|
Shares Authorized
|
|
Shares Outstanding
|
|
2018
|
|
2017
|
||||
|
|
|
|
|
|
|
|
(in millions)
|
||||||
5.1%
|
|
$25
|
|
8,000,000
|
|
8,000,000
|
|
|
$200.0
|
|
|
|
$200.0
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
December 31
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
Commercial paper outstanding
|
$441.2
|
|
$320.2
|
|
$50.4
|
|
$—
|
|
$105.5
|
|
$25.0
|
Commercial paper weighted average interest rates
|
2.8%
|
|
2.0%
|
|
2.8%
|
|
N/A
|
|
2.5%
|
|
1.5%
|
Available credit facility capacity
|
$558.8
|
|
$679.8
|
|
$199.6
|
|
$250.0
|
|
$244.5
|
|
$325.0
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
For the year ended
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
Maximum amount outstanding (based on daily outstanding balances)
|
$446.5
|
|
$424.4
|
|
$50.4
|
|
$20.0
|
|
$126.0
|
|
$271.2
|
Average amount outstanding (based on daily outstanding balances)
|
$221.4
|
|
$294.3
|
|
$1.5
|
|
$0.5
|
|
$36.6
|
|
$118.2
|
Weighted average interest rates
|
2.2%
|
|
1.2%
|
|
2.3%
|
|
1.3%
|
|
2.1%
|
|
1.0%
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
Requirement, not to exceed
|
65%
|
|
65%
|
|
65%
|
Actual
|
55%
|
|
45%
|
|
48%
|
|
75
|
|
|
2018
|
|
2017
|
||||||||||||||||||||
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||
Senior Debentures (a):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
3.65%, due 2020
|
|
$200.0
|
|
|
|
$200.0
|
|
|
|
$—
|
|
|
|
$200.0
|
|
|
|
$200.0
|
|
|
|
$—
|
|
3.25%, due 2024
|
500.0
|
|
|
500.0
|
|
|
—
|
|
|
500.0
|
|
|
500.0
|
|
|
—
|
|
||||||
3.4%, due 2025
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
5.5%, due 2025
|
50.0
|
|
|
50.0
|
|
|
—
|
|
|
50.0
|
|
|
50.0
|
|
|
—
|
|
||||||
4.1%, due 2028 (b)
|
500.0
|
|
|
500.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
6.45%, due 2033
|
100.0
|
|
|
100.0
|
|
|
—
|
|
|
100.0
|
|
|
100.0
|
|
|
—
|
|
||||||
6.3%, due 2034
|
125.0
|
|
|
125.0
|
|
|
—
|
|
|
125.0
|
|
|
125.0
|
|
|
—
|
|
||||||
6.25%, due 2039
|
300.0
|
|
|
300.0
|
|
|
—
|
|
|
300.0
|
|
|
300.0
|
|
|
—
|
|
||||||
4.7%, due 2043
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
3.7%, due 2046
|
300.0
|
|
|
300.0
|
|
|
—
|
|
|
300.0
|
|
|
300.0
|
|
|
—
|
|
||||||
5.875% (Retired in 2018)
|
—
|
|
|
—
|
|
|
—
|
|
|
100.0
|
|
|
100.0
|
|
|
—
|
|
||||||
7.25% (Retired in 2018)
|
—
|
|
|
—
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
||||||
|
2,575.0
|
|
|
2,575.0
|
|
|
—
|
|
|
2,425.0
|
|
|
2,425.0
|
|
|
—
|
|
||||||
Debentures (a):
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
5%, due 2019
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
4.6%, due 2020
|
150.0
|
|
|
—
|
|
|
150.0
|
|
|
150.0
|
|
|
—
|
|
|
150.0
|
|
||||||
2.25%, due 2022
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
3.05%, due 2027
|
300.0
|
|
|
—
|
|
|
300.0
|
|
|
300.0
|
|
|
—
|
|
|
300.0
|
|
||||||
6.25%, due 2034
|
100.0
|
|
|
—
|
|
|
100.0
|
|
|
100.0
|
|
|
—
|
|
|
100.0
|
|
||||||
6.375%, due 2037
|
300.0
|
|
|
—
|
|
|
300.0
|
|
|
300.0
|
|
|
—
|
|
|
300.0
|
|
||||||
7.6%, due 2038
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
4.1%, due 2044
|
250.0
|
|
|
—
|
|
|
250.0
|
|
|
250.0
|
|
|
—
|
|
|
250.0
|
|
||||||
|
1,850.0
|
|
|
—
|
|
|
1,850.0
|
|
|
1,850.0
|
|
|
—
|
|
|
1,850.0
|
|
||||||
Other:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
AEF term loan credit agreement through April 2020, 3% at December 31, 2018 (with Alliant Energy as guarantor) (c)
|
300.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Corporate Services 3.45% senior notes, due 2022 (a)
|
75.0
|
|
|
—
|
|
|
—
|
|
|
75.0
|
|
|
—
|
|
|
—
|
|
||||||
AEF 3.75% senior notes, due 2023 (with Alliant Energy as guarantor) (a)(d)
|
400.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
AEF 4.25% senior notes, due 2028 (with Alliant Energy as guarantor) (a)(d)
|
300.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Sheboygan Power, LLC 5.06% senior secured notes, due 2019 to 2024 (secured by the Sheboygan Falls Energy Facility and related assets) (a)
|
44.3
|
|
|
—
|
|
|
—
|
|
|
49.6
|
|
|
—
|
|
|
—
|
|
||||||
AEF term loan credit agreement, 2% at December 31, 2017 (with Alliant Energy as guarantor) (Retired in 2018) (d)
|
—
|
|
|
—
|
|
|
—
|
|
|
500.0
|
|
|
—
|
|
|
—
|
|
||||||
Other, 1% at December 31, 2018, due 2019 to 2025
|
2.4
|
|
|
—
|
|
|
—
|
|
|
2.9
|
|
|
—
|
|
|
—
|
|
||||||
|
1,121.7
|
|
|
—
|
|
|
—
|
|
|
627.5
|
|
|
—
|
|
|
—
|
|
||||||
Subtotal
|
5,546.7
|
|
|
2,575.0
|
|
|
1,850.0
|
|
|
4,902.5
|
|
|
2,425.0
|
|
|
1,850.0
|
|
||||||
Current maturities
|
(256.5
|
)
|
|
—
|
|
|
(250.0
|
)
|
|
(855.7
|
)
|
|
(350.0
|
)
|
|
—
|
|
||||||
Unamortized debt issuance costs
|
(32.1
|
)
|
|
(17.2
|
)
|
|
(9.6
|
)
|
|
(25.4
|
)
|
|
(14.3
|
)
|
|
(10.5
|
)
|
||||||
Unamortized debt (discount) and premium, net
|
(11.8
|
)
|
|
(5.5
|
)
|
|
(5.5
|
)
|
|
(10.8
|
)
|
|
(4.7
|
)
|
|
(6.1
|
)
|
||||||
Long-term debt, net (e)
|
|
$5,246.3
|
|
|
|
$2,552.3
|
|
|
|
$1,584.9
|
|
|
|
$4,010.6
|
|
|
|
$2,056.0
|
|
|
|
$1,833.4
|
|
(a)
|
Contains optional redemption provisions which, if elected by the issuer at its sole discretion, could require material redemption premium payments by the issuer. The redemption premium payments under these optional redemption provisions are variable and dependent on applicable U.S. Treasury rates at the time of redemption.
|
(b)
|
In September 2018, IPL issued
$500 million
of 4.1% senior debentures due 2028. The senior debentures were issued as green bonds, and all of the net proceeds were allocated for the construction and development of wind and solar projects.
|
(c)
|
In April 2018, AEF entered into a
$300 million
variable-rate term loan credit agreement and used the proceeds from borrowings under this agreement for general corporate purposes. Refer to
Note 9(a)
for discussion of a financial covenant contained in AEF’s term loan credit agreement.
|
(d)
|
In June 2018, AEF issued
$400 million
of 3.75% senior notes due 2023 and
$300 million
of 4.25% senior notes due 2028. The proceeds from the issuances were used by AEF to retire its
$500 million
and
$95 million
variable-rate term loan credit agreements expiring in 2018, to reduce Alliant Energy’s outstanding commercial paper and for general corporate purposes.
|
(e)
|
There were no significant sinking fund requirements related to the outstanding long-term debt.
|
|
76
|
|
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
||||||||||
IPL
|
|
$—
|
|
|
|
$200
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
WPL
|
250
|
|
|
150
|
|
|
—
|
|
|
250
|
|
|
—
|
|
|||||
Corporate Services
|
—
|
|
|
—
|
|
|
—
|
|
|
75
|
|
|
—
|
|
|||||
AEF
|
6
|
|
|
307
|
|
|
8
|
|
|
8
|
|
|
408
|
|
|||||
Alliant Energy
|
|
$256
|
|
|
|
$657
|
|
|
|
$8
|
|
|
|
$333
|
|
|
|
$408
|
|
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
Thereafter
|
|
Total
|
||||||||||||||
Alliant Energy
|
|
$5
|
|
|
|
$5
|
|
|
|
$3
|
|
|
|
$3
|
|
|
|
$2
|
|
|
|
$12
|
|
|
|
$30
|
|
IPL
|
3
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
2
|
|
|
12
|
|
|
23
|
|
|||||||
WPL
|
2
|
|
|
3
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|
2018
|
|
2017
|
|
2016
|
||||||
Interest expense
|
|
$8
|
|
|
|
$9
|
|
|
|
$9
|
|
Depreciation and amortization
|
6
|
|
|
6
|
|
|
6
|
|
|||
|
|
$14
|
|
|
|
$15
|
|
|
|
$15
|
|
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
Thereafter
|
|
Total
|
|
Less: amount representing interest
|
|
Present value of minimum capital lease payments
|
Sheboygan Falls Energy Facility
|
$15
|
|
$15
|
|
$15
|
|
$15
|
|
$15
|
|
$19
|
|
$94
|
|
$26
|
|
$68
|
|
77
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||||||||
Electric Utility:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Retail - residential
|
|
$1,063.4
|
|
|
|
$1,006.2
|
|
|
|
$1,001.1
|
|
|
|
$590.6
|
|
|
|
$535.6
|
|
|
|
$536.7
|
|
|
|
$472.8
|
|
|
|
$470.6
|
|
|
|
$464.4
|
|
Retail - commercial
|
735.6
|
|
|
710.3
|
|
|
712.6
|
|
|
486.8
|
|
|
452.7
|
|
|
445.4
|
|
|
248.8
|
|
|
257.6
|
|
|
267.2
|
|
|||||||||
Retail - industrial
|
888.8
|
|
|
853.1
|
|
|
851.1
|
|
|
500.8
|
|
|
459.7
|
|
|
460.4
|
|
|
388.0
|
|
|
393.4
|
|
|
390.7
|
|
|||||||||
Wholesale
|
188.4
|
|
|
238.4
|
|
|
256.6
|
|
|
71.2
|
|
|
95.5
|
|
|
94.2
|
|
|
117.2
|
|
|
142.9
|
|
|
162.4
|
|
|||||||||
Bulk power and other
|
124.1
|
|
|
86.7
|
|
|
54.1
|
|
|
81.7
|
|
|
55.4
|
|
|
33.0
|
|
|
42.4
|
|
|
31.3
|
|
|
21.1
|
|
|||||||||
Total Electric Utility
|
3,000.3
|
|
|
2,894.7
|
|
|
2,875.5
|
|
|
1,731.1
|
|
|
1,598.9
|
|
|
1,569.7
|
|
|
1,269.2
|
|
|
1,295.8
|
|
|
1,305.8
|
|
|||||||||
Gas Utility:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Retail - residential
|
254.4
|
|
|
224.7
|
|
|
197.6
|
|
|
152.3
|
|
|
123.2
|
|
|
110.6
|
|
|
102.1
|
|
|
101.5
|
|
|
87.0
|
|
|||||||||
Retail - commercial
|
133.0
|
|
|
123.2
|
|
|
109.6
|
|
|
75.9
|
|
|
67.9
|
|
|
61.9
|
|
|
57.1
|
|
|
55.3
|
|
|
47.7
|
|
|||||||||
Retail - industrial
|
14.9
|
|
|
16.7
|
|
|
15.2
|
|
|
10.2
|
|
|
11.1
|
|
|
10.6
|
|
|
4.7
|
|
|
5.6
|
|
|
4.6
|
|
|||||||||
Transportation/other
|
44.3
|
|
|
36.3
|
|
|
33.0
|
|
|
27.8
|
|
|
23.8
|
|
|
20.9
|
|
|
16.5
|
|
|
12.5
|
|
|
12.1
|
|
|||||||||
Total Gas Utility
|
446.6
|
|
|
400.9
|
|
|
355.4
|
|
|
266.2
|
|
|
226.0
|
|
|
204.0
|
|
|
180.4
|
|
|
174.9
|
|
|
151.4
|
|
|||||||||
Other Utility:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Steam
|
35.2
|
|
|
34.6
|
|
|
33.9
|
|
|
35.2
|
|
|
34.6
|
|
|
33.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Other utility
|
12.8
|
|
|
12.9
|
|
|
14.7
|
|
|
9.8
|
|
|
10.8
|
|
|
12.8
|
|
|
3.0
|
|
|
2.1
|
|
|
1.9
|
|
|||||||||
Total Other Utility
|
48.0
|
|
|
47.5
|
|
|
48.6
|
|
|
45.0
|
|
|
45.4
|
|
|
46.7
|
|
|
3.0
|
|
|
2.1
|
|
|
1.9
|
|
|||||||||
Non-Utility and Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Transportation and other
|
39.6
|
|
|
39.1
|
|
|
40.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Total Non-Utility and Other
|
39.6
|
|
|
39.1
|
|
|
40.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Total revenues
|
|
$3,534.5
|
|
|
|
$3,382.2
|
|
|
|
$3,320.0
|
|
|
|
$2,042.3
|
|
|
|
$1,870.3
|
|
|
|
$1,820.4
|
|
|
|
$1,452.6
|
|
|
|
$1,472.8
|
|
|
|
$1,459.1
|
|
|
78
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||||||||
Current tax expense (benefit):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Federal
|
|
($1.0
|
)
|
|
|
($41.0
|
)
|
|
|
$1.8
|
|
|
|
$14.9
|
|
|
|
($27.9
|
)
|
|
|
($12.8
|
)
|
|
|
($9.2
|
)
|
|
|
$5.5
|
|
|
|
($22.3
|
)
|
State
|
(5.1
|
)
|
|
8.5
|
|
|
17.2
|
|
|
(7.1
|
)
|
|
1.6
|
|
|
15.5
|
|
|
(4.4
|
)
|
|
2.5
|
|
|
1.1
|
|
|||||||||
IPL’s tax benefit riders
|
(13.2
|
)
|
|
(40.4
|
)
|
|
(44.2
|
)
|
|
(13.2
|
)
|
|
(40.4
|
)
|
|
(44.2
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||||
Deferred tax expense (benefit):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Federal
|
67.9
|
|
|
159.5
|
|
|
112.8
|
|
|
9.5
|
|
|
72.5
|
|
|
59.1
|
|
|
43.8
|
|
|
55.0
|
|
|
112.3
|
|
|||||||||
State
|
29.8
|
|
|
12.3
|
|
|
4.9
|
|
|
7.3
|
|
|
(2.2
|
)
|
|
(9.0
|
)
|
|
22.1
|
|
|
16.6
|
|
|
20.8
|
|
|||||||||
Production tax credits
|
(29.5
|
)
|
|
(31.1
|
)
|
|
(31.8
|
)
|
|
(14.0
|
)
|
|
(14.1
|
)
|
|
(14.0
|
)
|
|
(15.5
|
)
|
|
(17.0
|
)
|
|
(17.8
|
)
|
|||||||||
Investment tax credits
|
(1.2
|
)
|
|
(1.1
|
)
|
|
(1.3
|
)
|
|
(0.6
|
)
|
|
(0.4
|
)
|
|
(0.5
|
)
|
|
(0.6
|
)
|
|
(0.7
|
)
|
|
(0.8
|
)
|
|||||||||
|
|
$47.7
|
|
|
|
$66.7
|
|
|
|
$59.4
|
|
|
|
($3.2
|
)
|
|
|
($10.9
|
)
|
|
|
($5.9
|
)
|
|
|
$36.2
|
|
|
|
$61.9
|
|
|
|
$93.3
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
|||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|||||||||
Statutory federal income tax rate
|
21.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
21.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
21.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
State income taxes, net of federal benefits
|
7.0
|
|
|
5.5
|
|
|
5.4
|
|
|
7.7
|
|
|
6.5
|
|
|
6.4
|
|
|
6.2
|
|
|
5.1
|
|
|
5.1
|
|
Effect of rate-making on property-related differences
|
(7.6
|
)
|
|
(8.5
|
)
|
|
(8.5
|
)
|
|
(14.0
|
)
|
|
(19.1
|
)
|
|
(16.2
|
)
|
|
(2.3
|
)
|
|
(1.7
|
)
|
|
(0.7
|
)
|
Production tax credits
|
(5.2
|
)
|
|
(6.1
|
)
|
|
(7.2
|
)
|
|
(5.2
|
)
|
|
(6.7
|
)
|
|
(6.3
|
)
|
|
(6.4
|
)
|
|
(7.1
|
)
|
|
(6.2
|
)
|
IPL’s tax benefit riders
|
(2.3
|
)
|
|
(7.6
|
)
|
|
(10.0
|
)
|
|
(4.9
|
)
|
|
(18.7
|
)
|
|
(20.1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
Adjustment for prior period taxes
|
(2.3
|
)
|
|
(1.5
|
)
|
|
(0.8
|
)
|
|
(4.8
|
)
|
|
(3.4
|
)
|
|
(1.2
|
)
|
|
(0.2
|
)
|
|
—
|
|
|
(0.1
|
)
|
Federal Tax Reform adjustments
|
(1.0
|
)
|
|
(3.4
|
)
|
|
—
|
|
|
(0.4
|
)
|
|
1.7
|
|
|
—
|
|
|
(2.3
|
)
|
|
(5.8
|
)
|
|
—
|
|
Other items, net
|
(1.2
|
)
|
|
(0.9
|
)
|
|
(0.5
|
)
|
|
(0.6
|
)
|
|
(0.3
|
)
|
|
(0.3
|
)
|
|
(1.2
|
)
|
|
(0.6
|
)
|
|
(0.5
|
)
|
Overall income tax rate
|
8.4
|
%
|
|
12.5
|
%
|
|
13.4
|
%
|
|
(1.2
|
%)
|
|
(5.0
|
%)
|
|
(2.7
|
%)
|
|
14.8
|
%
|
|
24.9
|
%
|
|
32.6
|
%
|
|
79
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Deferred tax liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Property
|
|
$1,975.5
|
|
|
|
$1,852.7
|
|
|
|
$1,158.4
|
|
|
|
$1,102.6
|
|
|
|
$735.2
|
|
|
|
$674.2
|
|
ATC Holdings
|
102.4
|
|
|
86.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Other
|
80.5
|
|
|
75.9
|
|
|
69.4
|
|
|
63.4
|
|
|
34.4
|
|
|
36.5
|
|
||||||
Total deferred tax liabilities
|
2,158.4
|
|
|
2,015.0
|
|
|
1,227.8
|
|
|
1,166.0
|
|
|
769.6
|
|
|
710.7
|
|
||||||
Deferred tax assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Federal credit carryforwards
|
299.1
|
|
|
260.7
|
|
|
133.2
|
|
|
113.1
|
|
|
147.4
|
|
|
131.0
|
|
||||||
Net operating losses carryforwards - federal
|
158.6
|
|
|
174.4
|
|
|
114.1
|
|
|
107.4
|
|
|
26.4
|
|
|
43.7
|
|
||||||
Net operating losses carryforwards - state
|
47.0
|
|
|
41.3
|
|
|
0.9
|
|
|
0.9
|
|
|
0.5
|
|
|
0.2
|
|
||||||
Other
|
59.8
|
|
|
69.2
|
|
|
22.8
|
|
|
34.5
|
|
|
14.1
|
|
|
14.7
|
|
||||||
Subtotal deferred tax assets
|
564.5
|
|
|
545.6
|
|
|
271.0
|
|
|
255.9
|
|
|
188.4
|
|
|
189.6
|
|
||||||
Valuation allowances
|
(9.2
|
)
|
|
(9.0
|
)
|
|
(0.5
|
)
|
|
(0.6
|
)
|
|
(0.8
|
)
|
|
(1.3
|
)
|
||||||
Total deferred tax assets
|
555.3
|
|
|
536.6
|
|
|
270.5
|
|
|
255.3
|
|
|
187.6
|
|
|
188.3
|
|
||||||
Total deferred tax liabilities, net
|
|
$1,603.1
|
|
|
|
$1,478.4
|
|
|
|
$957.3
|
|
|
|
$910.7
|
|
|
|
$582.0
|
|
|
|
$522.4
|
|
|
Range of Expiration Dates
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Federal net operating losses
|
2031-2037
|
|
|
$766
|
|
|
|
$551
|
|
|
|
$126
|
|
State net operating losses
|
2018-2038
|
|
792
|
|
|
13
|
|
|
8
|
|
|||
Federal tax credits
|
2022-2038
|
|
299
|
|
|
133
|
|
|
147
|
|
Consolidated federal income tax returns (a)
|
2015
|
-
|
2017
|
Consolidated Iowa income tax returns (b)
|
2015
|
-
|
2017
|
Wisconsin combined tax returns (c)
|
2014
|
-
|
2017
|
(a)
|
These federal tax returns are effectively settled as a result of participation in the IRS Compliance Assurance Program, which allows Alliant Energy and the IRS to work together to resolve issues related to Alliant Energy’s current tax year before filing its federal income tax return. The statute of limitations for these federal tax returns expires
three
years from each filing date.
|
(b)
|
The statute of limitations for these Iowa tax returns expires
three
years from each filing date.
|
(c)
|
The statute of limitations for these Wisconsin combined tax returns expires
four
years from each filing date.
|
|
80
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
|||||||||||||||||
Alliant Energy
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|||||||||
Discount rate for benefit obligations
|
4.34%
|
|
3.66%
|
|
4.19%
|
|
4.24%
|
|
3.53%
|
|
3.98%
|
|||||||||
Discount rate for net periodic cost
|
3.66%
|
|
4.19%
|
|
4.47%
|
|
3.53%
|
|
3.98%
|
|
4.30%
|
|||||||||
Expected rate of return on plan assets
|
7.60%
|
|
7.60%
|
|
7.60%
|
|
5.44%
|
|
5.80%
|
|
6.30%
|
|||||||||
Interest crediting rate for Alliant Energy Cash Balance Pension Plan
|
5.04%
|
|
4.64%
|
|
3.17%
|
|
N/A
|
|
N/A
|
|
N/A
|
|||||||||
Rate of compensation increase
|
3.65
|
%
|
-
|
4.50%
|
|
3.65
|
%
|
-
|
4.50%
|
|
3.65
|
%
|
-
|
4.50%
|
|
N/A
|
|
N/A
|
|
N/A
|
Medical cost trend on covered charges:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Initial trend rate (end of year)
|
N/A
|
|
N/A
|
|
N/A
|
|
6.50%
|
|
6.75%
|
|
7.00%
|
|||||||||
Ultimate trend rate
|
N/A
|
|
N/A
|
|
N/A
|
|
5.00%
|
|
5.00%
|
|
5.00%
|
|
Qualified Defined Benefit Pension Plan
|
|
OPEB Plans
|
||||||||
IPL
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
Discount rate for benefit obligations
|
4.35%
|
|
3.68%
|
|
4.22%
|
|
4.23%
|
|
3.51%
|
|
3.95%
|
Discount rate for net periodic cost
|
3.68%
|
|
4.22%
|
|
4.50%
|
|
3.51%
|
|
3.95%
|
|
4.28%
|
Expected rate of return on plan assets
|
7.60%
|
|
7.60%
|
|
7.60%
|
|
5.60%
|
|
6.20%
|
|
6.60%
|
Rate of compensation increase
|
3.65%
|
|
3.65%
|
|
3.65%
|
|
N/A
|
|
N/A
|
|
N/A
|
Medical cost trend on covered charges:
|
|
|
|
|
|
|
|
|
|
|
|
Initial trend rate (end of year)
|
N/A
|
|
N/A
|
|
N/A
|
|
6.50%
|
|
6.75%
|
|
7.00%
|
Ultimate trend rate
|
N/A
|
|
N/A
|
|
N/A
|
|
5.00%
|
|
5.00%
|
|
5.00%
|
|
Qualified Defined Benefit Pension Plan
|
|
OPEB Plans
|
||||||||
WPL
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
Discount rate for benefit obligations
|
4.35%
|
|
3.69%
|
|
4.23%
|
|
4.23%
|
|
3.51%
|
|
3.96%
|
Discount rate for net periodic cost
|
3.69%
|
|
4.23%
|
|
4.51%
|
|
3.51%
|
|
3.96%
|
|
4.28%
|
Expected rate of return on plan assets
|
7.60%
|
|
7.60%
|
|
7.60%
|
|
3.84%
|
|
3.50%
|
|
4.70%
|
Rate of compensation increase
|
3.65%
|
|
3.65%
|
|
3.65%
|
|
N/A
|
|
N/A
|
|
N/A
|
Medical cost trend on covered charges:
|
|
|
|
|
|
|
|
|
|
|
|
Initial trend rate (end of year)
|
N/A
|
|
N/A
|
|
N/A
|
|
6.50%
|
|
6.75%
|
|
7.00%
|
Ultimate trend rate
|
N/A
|
|
N/A
|
|
N/A
|
|
5.00%
|
|
5.00%
|
|
5.00%
|
|
81
|
|
Alliant Energy
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|||||||||||||
Service cost
|
|
$12.1
|
|
|
|
$12.5
|
|
|
|
$12.6
|
|
|
|
$4.2
|
|
|
|
$5.0
|
|
|
|
$5.3
|
|
Interest cost
|
46.8
|
|
|
51.0
|
|
|
53.0
|
|
|
7.7
|
|
|
8.6
|
|
|
9.4
|
|
||||||
Expected return on plan assets (a)
|
(69.7
|
)
|
|
(65.5
|
)
|
|
(65.5
|
)
|
|
(6.0
|
)
|
|
(6.1
|
)
|
|
(6.1
|
)
|
||||||
Amortization of prior service credit (b)
|
(0.7
|
)
|
|
(0.4
|
)
|
|
(0.3
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
(4.1
|
)
|
||||||
Amortization of actuarial loss (c)
|
35.2
|
|
|
37.6
|
|
|
37.4
|
|
|
3.4
|
|
|
3.8
|
|
|
4.7
|
|
||||||
Settlement losses (d)
|
—
|
|
|
0.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
|
|
$23.7
|
|
|
|
$36.1
|
|
|
|
$37.2
|
|
|
|
$9.1
|
|
|
|
$11.1
|
|
|
|
$9.2
|
|
IPL
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|||||||||||||
Service cost
|
|
$7.4
|
|
|
|
$7.3
|
|
|
|
$7.5
|
|
|
|
$1.7
|
|
|
|
$2.1
|
|
|
|
$2.3
|
|
Interest cost
|
21.4
|
|
|
23.5
|
|
|
24.5
|
|
|
3.1
|
|
|
3.5
|
|
|
3.8
|
|
||||||
Expected return on plan assets (a)
|
(32.6
|
)
|
|
(30.8
|
)
|
|
(30.9
|
)
|
|
(4.4
|
)
|
|
(4.3
|
)
|
|
(4.3
|
)
|
||||||
Amortization of prior service credit (b)
|
(0.2
|
)
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
—
|
|
|
—
|
|
|
(2.6
|
)
|
||||||
Amortization of actuarial loss (c)
|
14.9
|
|
|
16.1
|
|
|
16.5
|
|
|
1.3
|
|
|
2.0
|
|
|
2.6
|
|
||||||
|
|
$10.9
|
|
|
|
$15.9
|
|
|
|
$17.4
|
|
|
|
$1.7
|
|
|
|
$3.3
|
|
|
|
$1.8
|
|
WPL
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||||||||||
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|||||||||||||
Service cost
|
|
$4.4
|
|
|
|
$4.9
|
|
|
|
$4.9
|
|
|
|
$1.6
|
|
|
|
$1.9
|
|
|
|
$2.0
|
|
Interest cost
|
20.2
|
|
|
21.8
|
|
|
22.3
|
|
|
3.1
|
|
|
3.4
|
|
|
3.8
|
|
||||||
Expected return on plan assets (a)
|
(30.4
|
)
|
|
(28.5
|
)
|
|
(28.3
|
)
|
|
(0.6
|
)
|
|
(0.8
|
)
|
|
(0.8
|
)
|
||||||
Amortization of prior service cost (credit) (b)
|
(0.1
|
)
|
|
0.1
|
|
|
0.2
|
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
(0.9
|
)
|
||||||
Amortization of actuarial loss (c)
|
17.2
|
|
|
18.5
|
|
|
17.6
|
|
|
2.0
|
|
|
1.6
|
|
|
1.8
|
|
||||||
|
|
$11.3
|
|
|
|
$16.8
|
|
|
|
$16.7
|
|
|
|
$5.9
|
|
|
|
$5.9
|
|
|
|
$5.9
|
|
(a)
|
The expected return on plan assets is based on the expected rate of return on plan assets and the fair value approach to the market-related value of plan assets.
|
(b)
|
Unrecognized prior service costs (credits) for the OPEB plans are amortized over the average future service period to full eligibility of the participants of each plan.
|
(c)
|
Unrecognized net actuarial gains or losses in excess of 10% of the greater of the plans’ benefit obligations or assets are amortized over the average future service lives of plan participants, except for the Alliant Energy Cash Balance Pension Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits.
|
(d)
|
Settlement losses related to payments made to retired executives of Alliant Energy.
|
|
82
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Change in benefit obligation:
|
|
|
|
|
|
|
|
||||||||
Net benefit obligation at January 1
|
|
$1,303.1
|
|
|
|
$1,244.3
|
|
|
|
$222.3
|
|
|
|
$220.1
|
|
Service cost
|
12.1
|
|
|
12.5
|
|
|
4.2
|
|
|
5.0
|
|
||||
Interest cost
|
46.8
|
|
|
51.0
|
|
|
7.7
|
|
|
8.6
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
3.1
|
|
|
2.9
|
|
||||
Actuarial (gain) loss
|
(96.2
|
)
|
|
83.6
|
|
|
(8.2
|
)
|
|
5.4
|
|
||||
Gross benefits paid
|
(90.8
|
)
|
|
(88.3
|
)
|
|
(23.0
|
)
|
|
(19.7
|
)
|
||||
Net benefit obligation at December 31
|
1,175.0
|
|
|
1,303.1
|
|
|
206.1
|
|
|
222.3
|
|
||||
Change in plan assets:
|
|
|
|
|
|
|
|
||||||||
Fair value of plan assets at January 1
|
950.7
|
|
|
895.7
|
|
|
111.1
|
|
|
105.8
|
|
||||
Actual return on plan assets
|
(57.8
|
)
|
|
136.7
|
|
|
(2.6
|
)
|
|
12.9
|
|
||||
Employer contributions
|
6.5
|
|
|
6.6
|
|
|
10.5
|
|
|
9.2
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
3.1
|
|
|
2.9
|
|
||||
Gross benefits paid
|
(90.8
|
)
|
|
(88.3
|
)
|
|
(23.0
|
)
|
|
(19.7
|
)
|
||||
Fair value of plan assets at December 31
|
808.6
|
|
|
950.7
|
|
|
99.1
|
|
|
111.1
|
|
||||
Under funded status at December 31
|
|
($366.4
|
)
|
|
|
($352.4
|
)
|
|
|
($107.0
|
)
|
|
|
($111.2
|
)
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Amounts recognized on the balance sheets consist of:
|
|
|
|
|
|
|
|
||||||||
Non-current assets
|
|
$—
|
|
|
|
$—
|
|
|
|
$7.5
|
|
|
|
$8.8
|
|
Current liabilities
|
(2.3
|
)
|
|
(2.2
|
)
|
|
(9.6
|
)
|
|
(9.1
|
)
|
||||
Pension and other benefit obligations
|
(364.1
|
)
|
|
(350.2
|
)
|
|
(104.9
|
)
|
|
(110.9
|
)
|
||||
Net amounts recognized at December 31
|
|
($366.4
|
)
|
|
|
($352.4
|
)
|
|
|
($107.0
|
)
|
|
|
($111.2
|
)
|
Amounts recognized in Regulatory Assets consist of:
|
|
|
|
|
|
|
|
||||||||
Net actuarial loss
|
|
$505.2
|
|
|
|
$509.1
|
|
|
|
$44.5
|
|
|
|
$47.4
|
|
Prior service credit
|
(5.8
|
)
|
|
(6.5
|
)
|
|
(1.1
|
)
|
|
(1.3
|
)
|
||||
|
|
$499.4
|
|
|
|
$502.6
|
|
|
|
$43.4
|
|
|
|
$46.1
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Change in benefit obligation:
|
|
|
|
|
|
|
|
||||||||
Net benefit obligation at January 1
|
|
$592.9
|
|
|
|
$570.4
|
|
|
|
$89.4
|
|
|
|
$90.1
|
|
Service cost
|
7.4
|
|
|
7.3
|
|
|
1.7
|
|
|
2.1
|
|
||||
Interest cost
|
21.4
|
|
|
23.5
|
|
|
3.1
|
|
|
3.5
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.0
|
|
|
1.0
|
|
||||
Actuarial (gain) loss
|
(44.4
|
)
|
|
34.9
|
|
|
(4.3
|
)
|
|
(0.1
|
)
|
||||
Gross benefits paid
|
(43.4
|
)
|
|
(43.2
|
)
|
|
(8.4
|
)
|
|
(7.2
|
)
|
||||
Net benefit obligation at December 31
|
533.9
|
|
|
592.9
|
|
|
82.5
|
|
|
89.4
|
|
||||
Change in plan assets:
|
|
|
|
|
|
|
|
||||||||
Fair value of plan assets at January 1
|
443.7
|
|
|
422.0
|
|
|
72.9
|
|
|
68.2
|
|
||||
Actual return on plan assets
|
(26.8
|
)
|
|
64.3
|
|
|
(1.4
|
)
|
|
8.9
|
|
||||
Employer contributions
|
4.3
|
|
|
0.6
|
|
|
2.6
|
|
|
2.0
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.0
|
|
|
1.0
|
|
||||
Gross benefits paid
|
(43.4
|
)
|
|
(43.2
|
)
|
|
(8.4
|
)
|
|
(7.2
|
)
|
||||
Fair value of plan assets at December 31
|
377.8
|
|
|
443.7
|
|
|
66.7
|
|
|
72.9
|
|
||||
Under funded status at December 31
|
|
($156.1
|
)
|
|
|
($149.2
|
)
|
|
|
($15.8
|
)
|
|
|
($16.5
|
)
|
|
83
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Amounts recognized on the balance sheets consist of:
|
|
|
|
|
|
|
|
||||||||
Non-current assets
|
|
$—
|
|
|
|
$—
|
|
|
|
$4.7
|
|
|
|
$5.9
|
|
Current liabilities
|
(0.6
|
)
|
|
(0.5
|
)
|
|
(1.9
|
)
|
|
(2.0
|
)
|
||||
Pension and other benefit obligations
|
(155.5
|
)
|
|
(148.7
|
)
|
|
(18.6
|
)
|
|
(20.4
|
)
|
||||
Net amounts recognized at December 31
|
|
($156.1
|
)
|
|
|
($149.2
|
)
|
|
|
($15.8
|
)
|
|
|
($16.5
|
)
|
Amounts recognized in Regulatory Assets consist of:
|
|
|
|
|
|
|
|
||||||||
Net actuarial loss
|
|
$218.8
|
|
|
|
$218.9
|
|
|
|
$18.8
|
|
|
|
$18.7
|
|
Prior service credit
|
(1.8
|
)
|
|
(2.1
|
)
|
|
—
|
|
|
—
|
|
||||
|
|
$217.0
|
|
|
|
$216.8
|
|
|
|
$18.8
|
|
|
|
$18.7
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Change in benefit obligation:
|
|
|
|
|
|
|
|
||||||||
Net benefit obligation at January 1
|
|
$559.8
|
|
|
|
$529.2
|
|
|
|
$90.4
|
|
|
|
$88.9
|
|
Service cost
|
4.4
|
|
|
4.9
|
|
|
1.6
|
|
|
1.9
|
|
||||
Interest cost
|
20.2
|
|
|
21.8
|
|
|
3.1
|
|
|
3.4
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.4
|
|
|
1.4
|
|
||||
Actuarial (gain) loss
|
(40.0
|
)
|
|
38.3
|
|
|
(2.5
|
)
|
|
4.1
|
|
||||
Gross benefits paid
|
(37.8
|
)
|
|
(34.4
|
)
|
|
(10.8
|
)
|
|
(9.3
|
)
|
||||
Net benefit obligation at December 31
|
506.6
|
|
|
559.8
|
|
|
83.2
|
|
|
90.4
|
|
||||
Change in plan assets:
|
|
|
|
|
|
|
|
||||||||
Fair value of plan assets at January 1
|
415.0
|
|
|
389.7
|
|
|
18.7
|
|
|
18.6
|
|
||||
Actual return on plan assets
|
(25.1
|
)
|
|
59.6
|
|
|
(0.1
|
)
|
|
1.2
|
|
||||
Employer contributions
|
0.1
|
|
|
0.1
|
|
|
7.5
|
|
|
6.8
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
1.4
|
|
|
1.4
|
|
||||
Gross benefits paid
|
(37.8
|
)
|
|
(34.4
|
)
|
|
(10.8
|
)
|
|
(9.3
|
)
|
||||
Fair value of plan assets at December 31
|
352.2
|
|
|
415.0
|
|
|
16.7
|
|
|
18.7
|
|
||||
Under funded status at December 31
|
|
($154.4
|
)
|
|
|
($144.8
|
)
|
|
|
($66.5
|
)
|
|
|
($71.7
|
)
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Amounts recognized on the balance sheets consist of:
|
|
|
|
|
|
|
|
||||||||
Non-current assets
|
|
$—
|
|
|
|
$—
|
|
|
|
$2.8
|
|
|
|
$2.9
|
|
Current liabilities
|
(0.1
|
)
|
|
(0.1
|
)
|
|
(7.4
|
)
|
|
(6.8
|
)
|
||||
Pension and other benefit obligations
|
(154.3
|
)
|
|
(144.7
|
)
|
|
(61.9
|
)
|
|
(67.8
|
)
|
||||
Net amounts recognized at December 31
|
|
($154.4
|
)
|
|
|
($144.8
|
)
|
|
|
($66.5
|
)
|
|
|
($71.7
|
)
|
Amounts recognized in Regulatory Assets consist of:
|
|
|
|
|
|
|
|
||||||||
Net actuarial loss
|
|
$223.0
|
|
|
|
$224.7
|
|
|
|
$19.9
|
|
|
|
$23.6
|
|
Prior service credit
|
(1.3
|
)
|
|
(1.5
|
)
|
|
(1.1
|
)
|
|
(1.3
|
)
|
||||
|
|
$221.7
|
|
|
|
$223.2
|
|
|
|
$18.8
|
|
|
|
$22.3
|
|
|
84
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
Alliant Energy
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Accumulated benefit obligations
|
|
$1,139.9
|
|
|
|
$1,269.0
|
|
|
|
$206.1
|
|
|
|
$222.3
|
|
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Accumulated benefit obligations
|
1,139.9
|
|
|
1,269.0
|
|
|
206.1
|
|
|
222.3
|
|
||||
Fair value of plan assets
|
808.6
|
|
|
950.7
|
|
|
99.1
|
|
|
111.1
|
|
||||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Projected benefit obligations
|
1,175.0
|
|
|
1,303.1
|
|
|
N/A
|
|
|
N/A
|
|
||||
Fair value of plan assets
|
808.6
|
|
|
950.7
|
|
|
N/A
|
|
|
N/A
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
IPL
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Accumulated benefit obligations
|
|
$514.3
|
|
|
|
$573.1
|
|
|
|
$82.5
|
|
|
|
$89.4
|
|
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Accumulated benefit obligations
|
514.3
|
|
|
573.1
|
|
|
82.5
|
|
|
89.4
|
|
||||
Fair value of plan assets
|
377.8
|
|
|
443.7
|
|
|
66.7
|
|
|
72.9
|
|
||||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Projected benefit obligations
|
533.9
|
|
|
592.9
|
|
|
N/A
|
|
|
N/A
|
|
||||
Fair value of plan assets
|
377.8
|
|
|
443.7
|
|
|
N/A
|
|
|
N/A
|
|
|
Defined Benefit Pension Plans
|
|
OPEB Plans
|
||||||||||||
WPL
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Accumulated benefit obligations
|
|
$494.8
|
|
|
|
$548.1
|
|
|
|
$83.2
|
|
|
|
$90.4
|
|
Plans with accumulated benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Accumulated benefit obligations
|
494.8
|
|
|
548.1
|
|
|
83.2
|
|
|
90.4
|
|
||||
Fair value of plan assets
|
352.2
|
|
|
415.0
|
|
|
16.7
|
|
|
18.7
|
|
||||
Plans with projected benefit obligations in excess of plan assets:
|
|
|
|
|
|
|
|
||||||||
Projected benefit obligations
|
506.6
|
|
|
559.8
|
|
|
N/A
|
|
|
N/A
|
|
||||
Fair value of plan assets
|
352.2
|
|
|
415.0
|
|
|
N/A
|
|
|
N/A
|
|
|
IPL
|
|
WPL
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Regulatory assets
|
|
$38.2
|
|
|
|
$38.9
|
|
|
|
$27.7
|
|
|
|
$28.1
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||
Defined benefit pension plans (a)
|
|
$33.8
|
|
|
|
$16.5
|
|
|
|
$15.6
|
|
OPEB plans
|
9.6
|
|
|
1.9
|
|
|
7.4
|
|
(a)
|
Alliant Energy sponsors several non-qualified defined benefit pension plans that cover certain current and former key employees of IPL and WPL. Alliant Energy allocates pension costs to IPL and WPL for these plans. In addition, IPL and WPL amounts reflect funding for their non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans.
|
|
85
|
|
Alliant Energy
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
2024 - 2028
|
||||||||||||
Defined benefit pension benefits
|
|
$71.7
|
|
|
|
$86.1
|
|
|
|
$74.7
|
|
|
|
$76.3
|
|
|
|
$77.8
|
|
|
|
$388.3
|
|
OPEB
|
19.3
|
|
|
18.1
|
|
|
17.8
|
|
|
17.5
|
|
|
17.0
|
|
|
77.7
|
|
||||||
|
|
$91.0
|
|
|
|
$104.2
|
|
|
|
$92.5
|
|
|
|
$93.8
|
|
|
|
$94.8
|
|
|
|
$466.0
|
|
IPL
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
2024 - 2028
|
||||||||||||
Defined benefit pension benefits
|
|
$33.0
|
|
|
|
$35.1
|
|
|
|
$35.1
|
|
|
|
$36.4
|
|
|
|
$37.5
|
|
|
|
$182.9
|
|
OPEB
|
7.3
|
|
|
7.3
|
|
|
7.2
|
|
|
7.1
|
|
|
6.9
|
|
|
31.3
|
|
||||||
|
|
$40.3
|
|
|
|
$42.4
|
|
|
|
$42.3
|
|
|
|
$43.5
|
|
|
|
$44.4
|
|
|
|
$214.2
|
|
WPL
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
2024 - 2028
|
||||||||||||
Defined benefit pension benefits
|
|
$31.4
|
|
|
|
$31.8
|
|
|
|
$31.9
|
|
|
|
$32.0
|
|
|
|
$32.5
|
|
|
|
$165.3
|
|
OPEB
|
8.8
|
|
|
7.6
|
|
|
7.4
|
|
|
7.1
|
|
|
6.8
|
|
|
30.7
|
|
||||||
|
|
$40.2
|
|
|
|
$39.4
|
|
|
|
$39.3
|
|
|
|
$39.1
|
|
|
|
$39.3
|
|
|
|
$196.0
|
|
|
Target Range
|
|
Actual
|
|||
|
Allocation
|
|
Allocation
|
|||
Cash and equivalents
|
0
|
%
|
-
|
5%
|
|
4%
|
Equity securities - U.S.
|
11
|
%
|
-
|
41%
|
|
25%
|
Equity securities - international
|
14
|
%
|
-
|
34%
|
|
22%
|
Global asset securities
|
5
|
%
|
-
|
15%
|
|
9%
|
Risk parity securities
|
5
|
%
|
-
|
15%
|
|
10%
|
Fixed income securities
|
20
|
%
|
-
|
40%
|
|
30%
|
|
86
|
|
|
Target Range
|
|
Actual
|
|||
|
Allocation
|
|
Allocation
|
|||
Cash and equivalents
|
0
|
%
|
-
|
5%
|
|
1%
|
Equity securities - U.S.
|
0
|
%
|
-
|
46%
|
|
24%
|
Equity securities - international
|
0
|
%
|
-
|
34%
|
|
2%
|
Fixed income securities
|
20
|
%
|
-
|
100%
|
|
73%
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
Alliant Energy
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$36.4
|
|
|
|
$3.0
|
|
|
|
$33.4
|
|
|
|
$—
|
|
|
|
$28.2
|
|
|
|
$4.5
|
|
|
|
$23.7
|
|
|
|
$—
|
|
Equity securities - U.S.
|
130.2
|
|
|
130.2
|
|
|
—
|
|
|
—
|
|
|
158.3
|
|
|
158.3
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
116.0
|
|
|
116.0
|
|
|
—
|
|
|
—
|
|
|
137.5
|
|
|
137.5
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset securities
|
42.1
|
|
|
42.1
|
|
|
—
|
|
|
—
|
|
|
49.4
|
|
|
49.4
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
127.8
|
|
|
52.5
|
|
|
75.3
|
|
|
—
|
|
|
135.9
|
|
|
55.8
|
|
|
80.1
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
452.5
|
|
|
|
$343.8
|
|
|
|
$108.7
|
|
|
|
$—
|
|
|
509.3
|
|
|
|
$405.5
|
|
|
|
$103.8
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
355.4
|
|
|
|
|
|
|
|
|
441.1
|
|
|
|
|
|
|
|
||||||||||||||
Accrued investment income
|
1.2
|
|
|
|
|
|
|
|
|
1.0
|
|
|
|
|
|
|
|
||||||||||||||
Due to brokers, net (pending trades with brokers)
|
(0.5
|
)
|
|
|
|
|
|
|
|
(0.7
|
)
|
|
|
|
|
|
|
||||||||||||||
Total pension plan assets
|
|
$808.6
|
|
|
|
|
|
|
|
|
|
$950.7
|
|
|
|
|
|
|
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
IPL
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$17.0
|
|
|
|
$1.4
|
|
|
|
$15.6
|
|
|
|
$—
|
|
|
|
$13.2
|
|
|
|
$2.2
|
|
|
|
$11.0
|
|
|
|
$—
|
|
Equity securities - U.S.
|
60.8
|
|
|
60.8
|
|
|
—
|
|
|
—
|
|
|
73.9
|
|
|
73.9
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
54.2
|
|
|
54.2
|
|
|
—
|
|
|
—
|
|
|
64.2
|
|
|
64.2
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset securities
|
19.7
|
|
|
19.7
|
|
|
—
|
|
|
—
|
|
|
23.0
|
|
|
23.0
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
59.7
|
|
|
24.5
|
|
|
35.2
|
|
|
—
|
|
|
63.4
|
|
|
26.0
|
|
|
37.4
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
211.4
|
|
|
|
$160.6
|
|
|
|
$50.8
|
|
|
|
$—
|
|
|
237.7
|
|
|
|
$189.3
|
|
|
|
$48.4
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
166.1
|
|
|
|
|
|
|
|
|
205.8
|
|
|
|
|
|
|
|
||||||||||||||
Accrued investment income
|
0.6
|
|
|
|
|
|
|
|
|
0.5
|
|
|
|
|
|
|
|
||||||||||||||
Due to brokers, net (pending trades with brokers)
|
(0.3
|
)
|
|
|
|
|
|
|
|
(0.3
|
)
|
|
|
|
|
|
|
||||||||||||||
Total pension plan assets
|
|
$377.8
|
|
|
|
|
|
|
|
|
|
$443.7
|
|
|
|
|
|
|
|
|
87
|
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
WPL
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$15.9
|
|
|
|
$1.3
|
|
|
|
$14.6
|
|
|
|
$—
|
|
|
|
$12.3
|
|
|
|
$2.0
|
|
|
|
$10.3
|
|
|
|
$—
|
|
Equity securities - U.S.
|
56.7
|
|
|
56.7
|
|
|
—
|
|
|
—
|
|
|
69.1
|
|
|
69.1
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
50.5
|
|
|
50.5
|
|
|
—
|
|
|
—
|
|
|
60.0
|
|
|
60.0
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset securities
|
18.4
|
|
|
18.4
|
|
|
—
|
|
|
—
|
|
|
21.6
|
|
|
21.6
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
55.6
|
|
|
22.8
|
|
|
32.8
|
|
|
—
|
|
|
59.3
|
|
|
24.3
|
|
|
35.0
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
197.1
|
|
|
|
$149.7
|
|
|
|
$47.4
|
|
|
|
$—
|
|
|
222.3
|
|
|
|
$177.0
|
|
|
|
$45.3
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
154.8
|
|
|
|
|
|
|
|
|
192.5
|
|
|
|
|
|
|
|
||||||||||||||
Accrued investment income
|
0.5
|
|
|
|
|
|
|
|
|
0.5
|
|
|
|
|
|
|
|
||||||||||||||
Due to brokers, net (pending trades with brokers)
|
(0.2
|
)
|
|
|
|
|
|
|
|
(0.3
|
)
|
|
|
|
|
|
|
||||||||||||||
Total pension plan assets
|
|
$352.2
|
|
|
|
|
|
|
|
|
|
$415.0
|
|
|
|
|
|
|
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
Alliant Energy
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$1.4
|
|
|
|
$1.1
|
|
|
|
$0.3
|
|
|
|
$—
|
|
|
|
$1.2
|
|
|
|
$0.7
|
|
|
|
$0.5
|
|
|
|
$—
|
|
Equity securities - U.S.
|
3.9
|
|
|
3.9
|
|
|
—
|
|
|
—
|
|
|
27.9
|
|
|
27.9
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
2.9
|
|
|
2.9
|
|
|
—
|
|
|
—
|
|
|
11.4
|
|
|
11.4
|
|
|
—
|
|
|
—
|
|
||||||||
Global asset securities
|
0.4
|
|
|
0.4
|
|
|
—
|
|
|
—
|
|
|
0.4
|
|
|
0.4
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
68.2
|
|
|
67.5
|
|
|
0.7
|
|
|
—
|
|
|
66.6
|
|
|
66.0
|
|
|
0.6
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
76.8
|
|
|
|
$75.8
|
|
|
|
$1.0
|
|
|
|
$—
|
|
|
107.5
|
|
|
|
$106.4
|
|
|
|
$1.1
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
22.3
|
|
|
|
|
|
|
|
|
3.6
|
|
|
|
|
|
|
|
||||||||||||||
Total OPEB plan assets
|
|
$99.1
|
|
|
|
|
|
|
|
|
|
$111.1
|
|
|
|
|
|
|
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
IPL
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$0.7
|
|
|
|
$0.7
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$0.3
|
|
|
|
$0.3
|
|
|
|
$—
|
|
|
|
$—
|
|
Equity securities - U.S.
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
22.3
|
|
|
22.3
|
|
|
—
|
|
|
—
|
|
||||||||
Equity securities - international
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7.5
|
|
|
7.5
|
|
|
—
|
|
|
—
|
|
||||||||
Fixed income securities
|
47.0
|
|
|
47.0
|
|
|
—
|
|
|
—
|
|
|
42.8
|
|
|
42.8
|
|
|
—
|
|
|
—
|
|
||||||||
Total assets in fair value hierarchy
|
47.7
|
|
|
|
$47.7
|
|
|
|
$—
|
|
|
|
$—
|
|
|
72.9
|
|
|
|
$72.9
|
|
|
|
$—
|
|
|
|
$—
|
|
||
Assets measured at net asset value
|
19.0
|
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
|
||||||||||||||
Total OPEB plan assets
|
|
$66.7
|
|
|
|
|
|
|
|
|
|
$72.9
|
|
|
|
|
|
|
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
|
Fair
|
|
Level
|
|
Level
|
|
Level
|
||||||||||||||||
WPL
|
Value
|
|
1
|
|
2
|
|
3
|
|
Value
|
|
1
|
|
2
|
|
3
|
||||||||||||||||
Cash and equivalents
|
|
$0.1
|
|
|
|
$0.1
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$0.6
|
|
|
|
$0.3
|
|
|
|
$0.3
|
|
|
|
$—
|
|
Fixed income securities
|
16.6
|
|
|
16.6
|
|
|
—
|
|
|
—
|
|
|
18.1
|
|
|
18.1
|
|
|
—
|
|
|
—
|
|
||||||||
Total OPEB plan assets
|
|
$16.7
|
|
|
|
$16.7
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$18.7
|
|
|
|
$18.4
|
|
|
|
$0.3
|
|
|
|
$—
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||||||||
401(k) costs
|
|
$25.1
|
|
|
|
$24.8
|
|
|
|
$23.6
|
|
|
|
$13.0
|
|
|
|
$12.8
|
|
|
|
$12.0
|
|
|
|
$11.2
|
|
|
|
$11.1
|
|
|
|
$10.7
|
|
|
88
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||||||||
Compensation expense
|
|
$17.0
|
|
|
|
$15.1
|
|
|
|
$18.0
|
|
|
|
$9.4
|
|
|
|
$8.3
|
|
|
|
$9.5
|
|
|
|
$6.9
|
|
|
|
$6.4
|
|
|
|
$7.9
|
|
Income tax benefits
|
4.9
|
|
|
6.2
|
|
|
7.4
|
|
|
2.8
|
|
|
3.4
|
|
|
4.0
|
|
|
1.9
|
|
|
2.6
|
|
|
3.2
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||
Nonvested awards, January 1
|
223,511
|
|
|
257,599
|
|
|
288,430
|
|
|
71,737
|
|
|
93,320
|
|
|
116,412
|
|
Granted
|
74,163
|
|
|
65,350
|
|
|
68,585
|
|
|
19,840
|
|
|
21,558
|
|
|
23,918
|
|
Vested
|
(90,806
|
)
|
|
(99,438
|
)
|
|
(98,186
|
)
|
|
(31,910
|
)
|
|
(37,395
|
)
|
|
(42,760
|
)
|
Forfeited
|
(3,680
|
)
|
|
—
|
|
|
(1,230
|
)
|
|
(1,906
|
)
|
|
(5,746
|
)
|
|
(4,250
|
)
|
Nonvested awards, December 31
|
203,188
|
|
|
223,511
|
|
|
257,599
|
|
|
57,761
|
|
|
71,737
|
|
|
93,320
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
2015 Grant
|
|
2014 Grant
|
|
2013 Grant
|
|
2015 Grant
|
|
2014 Grant
|
|
2013 Grant
|
Performance awards vested
|
90,806
|
|
99,438
|
|
98,186
|
|
31,910
|
|
37,395
|
|
42,760
|
Percentage of target number of performance awards
|
137.5%
|
|
147.5%
|
|
165.0%
|
|
137.5%
|
|
147.5%
|
|
165.0%
|
Aggregate payout value (in millions)
|
$5.3
|
|
$5.6
|
|
$5.1
|
|
$1.4
|
|
$1.5
|
|
$1.7
|
Payout - cash (in millions)
|
$4.9
|
|
$5.1
|
|
$2.9
|
|
$1.4
|
|
$1.5
|
|
$1.7
|
Payout - common stock shares issued
|
5,078
|
|
5,185
|
|
22,408
|
|
N/A
|
|
N/A
|
|
N/A
|
|
89
|
|
|
Performance Shares
|
|
Performance Units
|
||||||||||||||||||||
|
2018 Grant
|
|
2017 Grant
|
|
2016 Grant
|
|
2018 Grant
|
|
2017 Grant
|
|
2016 Grant
|
||||||||||||
Nonvested awards at target
|
70,483
|
|
|
65,350
|
|
|
67,355
|
|
|
19,196
|
|
|
18,062
|
|
|
20,503
|
|
||||||
Estimated payout percentage based on performance criteria
|
85
|
%
|
|
85
|
%
|
|
143
|
%
|
|
85
|
%
|
|
85
|
%
|
|
143
|
%
|
||||||
Fair values of each nonvested award
|
|
$35.91
|
|
|
|
$35.91
|
|
|
|
$60.42
|
|
|
|
$35.91
|
|
|
|
$35.91
|
|
|
|
$60.42
|
|
|
2018
|
|
2017
|
|
2016
|
|||||||||||||||
|
Units
|
|
Weighted Average
Grant Date Fair Value
|
|
Units
|
|
Weighted Average
Grant Date Fair Value
|
|
Units
|
|
Weighted Average
Grant Date Fair Value
|
|||||||||
Nonvested units, January 1
|
132,705
|
|
|
|
$36.50
|
|
|
67,355
|
|
|
|
$33.96
|
|
|
—
|
|
|
|
$—
|
|
Granted
|
74,163
|
|
|
38.60
|
|
|
65,350
|
|
|
39.12
|
|
|
68,585
|
|
|
33.96
|
|
|||
Forfeited
|
(3,680
|
)
|
|
38.60
|
|
|
—
|
|
|
—
|
|
|
(1,230
|
)
|
|
33.90
|
|
|||
Nonvested units, December 31
|
203,188
|
|
|
37.23
|
|
|
132,705
|
|
|
36.50
|
|
|
67,355
|
|
|
33.96
|
|
|
90
|
|
|
2018
|
|
2017
|
||||
Carrying value
|
|
$9.8
|
|
|
|
$11.1
|
|
Fair market value
|
16.2
|
|
|
19.7
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Balance, January 1
|
|
$184.5
|
|
|
|
$195.7
|
|
|
|
$134.1
|
|
|
|
$124.7
|
|
|
|
$50.4
|
|
|
|
$61.4
|
|
Revisions in estimated cash flows
|
(10.1
|
)
|
|
4.3
|
|
|
(10.1
|
)
|
|
7.0
|
|
|
—
|
|
|
(2.7
|
)
|
||||||
Liabilities settled
|
(10.4
|
)
|
|
(23.5
|
)
|
|
(9.7
|
)
|
|
(13.1
|
)
|
|
(0.7
|
)
|
|
(10.4
|
)
|
||||||
Liabilities incurred
|
7.3
|
|
|
2.0
|
|
|
—
|
|
|
11.7
|
|
|
7.3
|
|
|
—
|
|
||||||
Accretion expense
|
6.2
|
|
|
6.0
|
|
|
4.0
|
|
|
3.8
|
|
|
2.2
|
|
|
2.1
|
|
||||||
Balance, December 31
|
|
$177.5
|
|
|
|
$184.5
|
|
|
|
$118.3
|
|
|
|
$134.1
|
|
|
|
$59.2
|
|
|
|
$50.4
|
|
Risk management purpose
|
Type of instrument
|
Mitigate pricing volatility for:
|
|
Fuel used to supply natural gas-fired EGUs
|
Natural gas swap, options and physical forward contracts (IPL and WPL)
|
Natural gas supplied to retail customers
|
Natural gas swap, options and physical forward contracts (IPL and WPL)
|
Fuel used at coal-fired EGUs
|
Coal physical forward contracts (IPL and WPL)
|
Optimize the value of natural gas pipeline capacity
|
Natural gas physical forward contracts (IPL and WPL)
|
|
Natural gas swap contracts (IPL)
|
Manage transmission congestion costs
|
FTRs (IPL and WPL)
|
Manage rail transportation costs
|
Diesel fuel swap contracts (WPL)
|
|
FTRs
|
|
Natural Gas
|
|
Coal
|
|
Diesel Fuel
|
||||||||||||
|
MWhs
|
|
Years
|
|
Dths
|
|
Years
|
|
Tons
|
|
Years
|
|
Gallons
|
|
Years
|
||||
Alliant Energy
|
10,399
|
|
|
2019
|
|
181,694
|
|
|
2019-2026
|
|
10,467
|
|
|
2019-2021
|
|
3,024
|
|
|
2019
|
IPL
|
5,954
|
|
|
2019
|
|
80,150
|
|
|
2019-2026
|
|
4,410
|
|
|
2019-2021
|
|
—
|
|
|
|
WPL
|
4,445
|
|
|
2019
|
|
101,544
|
|
|
2019-2026
|
|
6,057
|
|
|
2019-2021
|
|
3,024
|
|
|
2019
|
|
91
|
|
|
Alliant Energy
|
|
IPL
|
|
WPL
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||
Current derivative assets
|
|
$24.6
|
|
|
|
$21.1
|
|
|
|
$16.1
|
|
|
|
$15.8
|
|
|
|
$8.5
|
|
|
|
$5.3
|
|
Non-current derivative assets
|
3.7
|
|
|
4.0
|
|
|
1.6
|
|
|
1.3
|
|
|
2.1
|
|
|
2.7
|
|
||||||
Current derivative liabilities
|
5.6
|
|
|
18.7
|
|
|
3.1
|
|
|
5.0
|
|
|
2.5
|
|
|
13.7
|
|
||||||
Non-current derivative liabilities
|
17.7
|
|
|
23.0
|
|
|
8.1
|
|
|
14.4
|
|
|
9.6
|
|
|
8.6
|
|
|
92
|
|
Alliant Energy
|
2018
|
|
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
|
|
$28.3
|
|
|
|
$—
|
|
|
|
$8.9
|
|
|
|
$19.4
|
|
|
|
$28.3
|
|
|
|
$25.1
|
|
|
|
$—
|
|
|
|
$4.1
|
|
|
|
$21.0
|
|
|
|
$25.1
|
|
Deferred proceeds
|
119.4
|
|
|
—
|
|
|
—
|
|
|
119.4
|
|
|
119.4
|
|
|
222.1
|
|
|
—
|
|
|
—
|
|
|
222.1
|
|
|
222.1
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
23.3
|
|
|
—
|
|
|
16.1
|
|
|
7.2
|
|
|
23.3
|
|
|
41.7
|
|
|
—
|
|
|
8.5
|
|
|
33.2
|
|
|
41.7
|
|
||||||||||
Long-term debt (incl. current maturities)
|
5,502.8
|
|
|
—
|
|
|
5,858.4
|
|
|
2.4
|
|
|
5,860.8
|
|
|
4,866.3
|
|
|
—
|
|
|
5,444.6
|
|
|
2.9
|
|
|
5,447.5
|
|
IPL
|
2018
|
|
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
|
|
$17.7
|
|
|
|
$—
|
|
|
|
$4.0
|
|
|
|
$13.7
|
|
|
|
$17.7
|
|
|
|
$17.1
|
|
|
|
$—
|
|
|
|
$2.0
|
|
|
|
$15.1
|
|
|
|
$17.1
|
|
Deferred proceeds
|
119.4
|
|
|
—
|
|
|
—
|
|
|
119.4
|
|
|
119.4
|
|
|
222.1
|
|
|
—
|
|
|
—
|
|
|
222.1
|
|
|
222.1
|
|
||||||||||
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
11.2
|
|
|
—
|
|
|
6.5
|
|
|
4.7
|
|
|
11.2
|
|
|
19.4
|
|
|
—
|
|
|
2.9
|
|
|
16.5
|
|
|
19.4
|
|
||||||||||
Long-term debt (incl. current maturities)
|
2,552.3
|
|
|
—
|
|
|
2,691.2
|
|
|
—
|
|
|
2,691.2
|
|
|
2,406.0
|
|
|
—
|
|
|
2,665.7
|
|
|
—
|
|
|
2,665.7
|
|
WPL
|
2018
|
|
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
|
|
$10.6
|
|
|
|
$—
|
|
|
|
$4.9
|
|
|
|
$5.7
|
|
|
|
$10.6
|
|
|
|
$8.0
|
|
|
|
$—
|
|
|
|
$2.1
|
|
|
|
$5.9
|
|
|
|
$8.0
|
|
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Derivatives
|
12.1
|
|
|
—
|
|
|
9.6
|
|
|
2.5
|
|
|
12.1
|
|
|
22.3
|
|
|
—
|
|
|
5.6
|
|
|
16.7
|
|
|
22.3
|
|
||||||||||
Long-term debt (incl. current maturities)
|
1,834.9
|
|
|
—
|
|
|
2,043.7
|
|
|
—
|
|
|
2,043.7
|
|
|
1,833.4
|
|
|
—
|
|
|
2,147.9
|
|
|
—
|
|
|
2,147.9
|
|
|
93
|
|
Alliant Energy
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
|
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)
|
9.1
|
|
|
(32.9
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3 (a)
|
16.1
|
|
|
12.2
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
26.7
|
|
|
28.3
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.5
|
)
|
|
(0.3
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (b)
|
(27.0
|
)
|
|
(28.2
|
)
|
|
(102.7
|
)
|
|
11.0
|
|
||||
Ending balance, December 31
|
|
$12.2
|
|
|
|
($12.2
|
)
|
|
|
$119.4
|
|
|
|
$222.1
|
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31
|
|
$10.7
|
|
|
|
($31.0
|
)
|
|
|
$—
|
|
|
|
$—
|
|
IPL
|
Commodity Contract Derivative
|
|
|
||||||||||||
|
Assets and (Liabilities), net
|
|
Deferred Proceeds
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Beginning balance, January 1
|
|
($1.4
|
)
|
|
|
$10.1
|
|
|
|
$222.1
|
|
|
|
$211.1
|
|
Total net losses included in changes in net assets (realized/unrealized)
|
(0.5
|
)
|
|
(14.8
|
)
|
|
—
|
|
|
—
|
|
||||
Transfers out of Level 3 (a)
|
11.0
|
|
|
3.1
|
|
|
—
|
|
|
—
|
|
||||
Purchases
|
22.5
|
|
|
24.6
|
|
|
—
|
|
|
—
|
|
||||
Sales
|
(0.4
|
)
|
|
(0.2
|
)
|
|
—
|
|
|
—
|
|
||||
Settlements (b)
|
(22.2
|
)
|
|
(24.2
|
)
|
|
(102.7
|
)
|
|
11.0
|
|
||||
Ending balance, December 31
|
|
$9.0
|
|
|
|
($1.4
|
)
|
|
|
$119.4
|
|
|
|
$222.1
|
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31
|
|
$0.2
|
|
|
|
($13.5
|
)
|
|
|
$—
|
|
|
|
$—
|
|
WPL
|
Commodity Contract Derivative
|
||||||
|
Assets and (Liabilities), net
|
||||||
|
2018
|
|
2017
|
||||
Beginning balance, January 1
|
|
($10.8
|
)
|
|
|
($1.4
|
)
|
Total net gains (losses) included in changes in net assets (realized/unrealized)
|
9.6
|
|
|
(18.1
|
)
|
||
Transfers out of Level 3 (a)
|
5.1
|
|
|
9.1
|
|
||
Purchases
|
4.2
|
|
|
3.7
|
|
||
Sales
|
(0.1
|
)
|
|
(0.1
|
)
|
||
Settlements
|
(4.8
|
)
|
|
(4.0
|
)
|
||
Ending balance, December 31
|
|
$3.2
|
|
|
|
($10.8
|
)
|
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31
|
|
$10.5
|
|
|
|
($17.5
|
)
|
(a)
|
Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3.
|
(b)
|
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
|
||||||||||||
2018
|
|
$3.2
|
|
|
|
$9.0
|
|
|
|
$1.8
|
|
|
|
$7.2
|
|
|
|
$1.4
|
|
|
|
$1.8
|
|
2017
|
(23.5
|
)
|
|
11.3
|
|
|
(11.5
|
)
|
|
10.1
|
|
|
(12.0
|
)
|
|
1.2
|
|
|
94
|
|
Alliant Energy
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
Thereafter
|
|
Total
|
||||||||||||||
Purchased power (a)
|
|
$159
|
|
|
|
$135
|
|
|
|
$149
|
|
|
|
$140
|
|
|
|
$155
|
|
|
|
$307
|
|
|
|
$1,045
|
|
Natural gas
|
254
|
|
|
151
|
|
|
119
|
|
|
94
|
|
|
67
|
|
|
196
|
|
|
881
|
|
|||||||
Coal (b)
|
102
|
|
|
49
|
|
|
26
|
|
|
9
|
|
|
9
|
|
|
—
|
|
|
195
|
|
|||||||
Other (c)
|
60
|
|
|
4
|
|
|
3
|
|
|
2
|
|
|
2
|
|
|
—
|
|
|
71
|
|
|||||||
|
|
$575
|
|
|
|
$339
|
|
|
|
$297
|
|
|
|
$245
|
|
|
|
$233
|
|
|
|
$503
|
|
|
|
$2,192
|
|
IPL
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
Thereafter
|
|
Total
|
||||||||||||||
Purchased power (a)
|
|
$144
|
|
|
|
$135
|
|
|
|
$149
|
|
|
|
$140
|
|
|
|
$155
|
|
|
|
$307
|
|
|
|
$1,030
|
|
Natural gas
|
124
|
|
|
55
|
|
|
42
|
|
|
33
|
|
|
26
|
|
|
83
|
|
|
363
|
|
|||||||
Coal (b)
|
52
|
|
|
29
|
|
|
20
|
|
|
9
|
|
|
9
|
|
|
—
|
|
|
119
|
|
|||||||
Other (c)
|
24
|
|
|
3
|
|
|
3
|
|
|
2
|
|
|
2
|
|
|
—
|
|
|
34
|
|
|||||||
|
|
$344
|
|
|
|
$222
|
|
|
|
$214
|
|
|
|
$184
|
|
|
|
$192
|
|
|
|
$390
|
|
|
|
$1,546
|
|
WPL
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
Thereafter
|
|
Total
|
||||||||||||||
Purchased power
|
|
$15
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
|
|
$15
|
|
Natural gas
|
130
|
|
|
96
|
|
|
77
|
|
|
61
|
|
|
41
|
|
|
113
|
|
|
518
|
|
|||||||
Coal (b)
|
50
|
|
|
20
|
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
76
|
|
|||||||
Other (c)
|
23
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
23
|
|
|||||||
|
|
$218
|
|
|
|
$116
|
|
|
|
$83
|
|
|
|
$61
|
|
|
|
$41
|
|
|
|
$113
|
|
|
|
$632
|
|
(a)
|
Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. 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, subject to IUB approval. In December 2018, IPL received an order from the IUB, which was effective in January 2019, approving recovery of the buyout payment. As a result, Alliant Energy’s and IPL’s amounts in the above table do not include the September 2020 buyout payment, and the minimum future commitments reflect IPL’s purchase of capacity and the resulting energy from DAEC through December 2025, the original term of the PPA prior to the amendment. Amounts in the above table for 2021 and beyond relate to the DAEC PPA.
|
(b)
|
Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of
December 31, 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
December 31, 2018
.
|
|
95
|
|
|
Alliant Energy
|
|
IPL
|
||||||||
Range of estimated future costs
|
|
$11
|
|
-
|
$29
|
|
|
$8
|
|
-
|
$24
|
Current and non-current environmental liabilities
|
15
|
|
12
|
|
96
|
|
•
|
Utility -
includes the operations of IPL and WPL, which primarily serve retail customers in Iowa and Wisconsin. The utility business has
three
reportable segments: a) utility electric operations; b) utility gas operations; and c) utility other, which includes steam operations and the unallocated portions of the utility business. Various line items in the following tables are not allocated to the electric and gas segments for management reporting purposes, and therefore, are included only in “Total Utility.”
|
•
|
ATC Holdings, Non-utility, Parent and Other -
includes the operations of AEF and its subsidiaries, Corporate Services, the Alliant Energy parent company, and any Alliant Energy parent company consolidating adjustments. AEF is comprised of Alliant Energy’s interest in ATC Holdings, Transportation, a non-utility wind farm, the Sheboygan Falls Energy Facility and other non-utility holdings.
|
|
|
|
|
|
|
|
|
|
ATC Holdings,
|
|
|
||||||||||||
|
Utility
|
|
Non-utility,
|
|
Alliant Energy
|
||||||||||||||||||
2018
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
Revenues
|
|
$3,000.3
|
|
|
|
$446.6
|
|
|
|
$48.0
|
|
|
|
$3,494.9
|
|
|
|
$39.6
|
|
|
|
$3,534.5
|
|
Depreciation and amortization
|
457.3
|
|
|
42.0
|
|
|
3.6
|
|
|
502.9
|
|
|
4.0
|
|
|
506.9
|
|
||||||
Operating income
|
610.2
|
|
|
53.2
|
|
|
0.3
|
|
|
663.7
|
|
|
30.7
|
|
|
694.4
|
|
||||||
Interest expense
|
|
|
|
|
|
|
217.2
|
|
|
29.8
|
|
|
247.0
|
|
|||||||||
Equity income from unconsolidated investments, net
|
(0.9
|
)
|
|
—
|
|
|
—
|
|
|
(0.9
|
)
|
|
(53.7
|
)
|
|
(54.6
|
)
|
||||||
Income taxes
|
|
|
|
|
|
|
33.0
|
|
|
14.7
|
|
|
47.7
|
|
|||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
472.1
|
|
|
40.0
|
|
|
512.1
|
|
|||||||||
Total assets
|
12,486.3
|
|
|
1,184.4
|
|
|
893.2
|
|
|
14,563.9
|
|
|
862.1
|
|
|
15,426.0
|
|
||||||
Investments in equity method subsidiaries
|
8.1
|
|
|
—
|
|
|
—
|
|
|
8.1
|
|
|
413.2
|
|
|
421.3
|
|
||||||
Construction and acquisition expenditures
|
1,421.1
|
|
|
146.8
|
|
|
0.4
|
|
|
1,568.3
|
|
|
65.6
|
|
|
1,633.9
|
|
|
97
|
|
|
|
|
|
|
|
|
|
|
ATC Holdings,
|
|
|
||||||||||||
|
Utility
|
|
Non-utility,
|
|
Alliant Energy
|
||||||||||||||||||
2017
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
Revenues
|
|
$2,894.7
|
|
|
|
$400.9
|
|
|
|
$47.5
|
|
|
|
$3,343.1
|
|
|
|
$39.1
|
|
|
|
$3,382.2
|
|
Depreciation and amortization
|
412.0
|
|
|
38.2
|
|
|
7.7
|
|
|
457.9
|
|
|
3.9
|
|
|
461.8
|
|
||||||
Operating income (loss)
|
601.7
|
|
|
47.7
|
|
|
(11.6
|
)
|
|
637.8
|
|
|
33.4
|
|
|
671.2
|
|
||||||
Interest expense
|
|
|
|
|
|
|
206.2
|
|
|
9.4
|
|
|
215.6
|
|
|||||||||
Equity income from unconsolidated investments, net
|
(0.7
|
)
|
|
—
|
|
|
—
|
|
|
(0.7
|
)
|
|
(44.1
|
)
|
|
(44.8
|
)
|
||||||
Income taxes
|
|
|
|
|
|
|
51.0
|
|
|
15.7
|
|
|
66.7
|
|
|||||||||
Net income attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
403.4
|
|
|
53.9
|
|
|
457.3
|
|
|||||||||
Total assets
|
11,396.2
|
|
|
1,199.8
|
|
|
766.5
|
|
|
13,362.5
|
|
|
825.3
|
|
|
14,187.8
|
|
||||||
Investments in equity method subsidiaries
|
8.3
|
|
|
—
|
|
|
—
|
|
|
8.3
|
|
|
373.1
|
|
|
381.4
|
|
||||||
Construction and acquisition expenditures
|
1,154.9
|
|
|
125.2
|
|
|
1.7
|
|
|
1,281.8
|
|
|
185.1
|
|
|
1,466.9
|
|
|
|
|
|
|
|
|
|
|
ATC Holdings,
|
|
|
||||||||||||
|
Utility
|
|
Non-utility,
|
|
Alliant Energy
|
||||||||||||||||||
2016
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
|
Parent and Other
|
|
Consolidated
|
||||||||||||
Revenues
|
|
$2,875.5
|
|
|
|
$355.4
|
|
|
|
$48.6
|
|
|
|
$3,279.5
|
|
|
|
$40.5
|
|
|
|
$3,320.0
|
|
Depreciation and amortization
|
367.0
|
|
|
34.2
|
|
|
2.1
|
|
|
403.3
|
|
|
8.3
|
|
|
411.6
|
|
||||||
Operating income (loss)
|
586.5
|
|
|
33.0
|
|
|
(4.7
|
)
|
|
614.8
|
|
|
(60.7
|
)
|
|
554.1
|
|
||||||
Interest expense
|
|
|
|
|
|
|
194.6
|
|
|
1.6
|
|
|
196.2
|
|
|||||||||
Equity income from unconsolidated investments, net
|
(0.7
|
)
|
|
—
|
|
|
—
|
|
|
(0.7
|
)
|
|
(38.9
|
)
|
|
(39.6
|
)
|
||||||
Income tax expense (benefit)
|
|
|
|
|
|
|
71.4
|
|
|
(12.0
|
)
|
|
59.4
|
|
|||||||||
Net income (loss) attributable to Alliant Energy common shareowners
|
|
|
|
|
|
|
385.2
|
|
|
(13.7
|
)
|
|
371.5
|
|
|||||||||
Total assets
|
10,722.9
|
|
|
1,091.1
|
|
|
781.0
|
|
|
12,595.0
|
|
|
778.8
|
|
|
13,373.8
|
|
||||||
Investments in equity method subsidiaries
|
7.7
|
|
|
—
|
|
|
—
|
|
|
7.7
|
|
|
318.3
|
|
|
326.0
|
|
||||||
Construction and acquisition expenditures
|
994.0
|
|
|
137.1
|
|
|
0.1
|
|
|
1,131.2
|
|
|
65.6
|
|
|
1,196.8
|
|
2018
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Revenues
|
|
$1,731.1
|
|
|
|
$266.2
|
|
|
|
$45.0
|
|
|
|
$2,042.3
|
|
Depreciation and amortization
|
254.7
|
|
|
25.2
|
|
|
3.6
|
|
|
283.5
|
|
||||
Operating income
|
318.2
|
|
|
28.3
|
|
|
4.3
|
|
|
350.8
|
|
||||
Interest expense
|
|
|
|
|
|
|
119.4
|
|
|||||||
Income tax benefit
|
|
|
|
|
|
|
(3.2
|
)
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
264.0
|
|
|||||||
Total assets
|
7,219.9
|
|
|
687.5
|
|
|
504.0
|
|
|
8,411.4
|
|
||||
Construction and acquisition expenditures
|
890.6
|
|
|
99.7
|
|
|
0.4
|
|
|
990.7
|
|
2017
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Revenues
|
|
$1,598.9
|
|
|
|
$226.0
|
|
|
|
$45.4
|
|
|
|
$1,870.3
|
|
Depreciation and amortization
|
215.1
|
|
|
22.2
|
|
|
7.7
|
|
|
245.0
|
|
||||
Operating income (loss)
|
287.3
|
|
|
21.7
|
|
|
(4.9
|
)
|
|
304.1
|
|
||||
Interest expense
|
|
|
|
|
|
|
112.4
|
|
|||||||
Income tax benefit
|
|
|
|
|
|
|
(10.9
|
)
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
216.8
|
|
|||||||
Total assets
|
6,524.4
|
|
|
727.9
|
|
|
353.7
|
|
|
7,606.0
|
|
||||
Construction and acquisition expenditures
|
594.1
|
|
|
80.7
|
|
|
1.2
|
|
|
676.0
|
|
|
98
|
|
2016
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Revenues
|
|
$1,569.7
|
|
|
|
$204.0
|
|
|
|
$46.7
|
|
|
|
$1,820.4
|
|
Depreciation and amortization
|
189.4
|
|
|
19.3
|
|
|
2.1
|
|
|
210.8
|
|
||||
Operating income
|
257.8
|
|
|
16.4
|
|
|
3.4
|
|
|
277.6
|
|
||||
Interest expense
|
|
|
|
|
|
|
103.2
|
|
|||||||
Income tax benefit
|
|
|
|
|
|
|
(5.9
|
)
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
215.6
|
|
|||||||
Total assets
|
6,278.2
|
|
|
653.3
|
|
|
373.2
|
|
|
7,304.7
|
|
||||
Construction and acquisition expenditures
|
598.1
|
|
|
91.5
|
|
|
0.1
|
|
|
689.7
|
|
2018
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Revenues
|
|
$1,269.2
|
|
|
|
$180.4
|
|
|
|
$3.0
|
|
|
|
$1,452.6
|
|
Depreciation and amortization
|
202.6
|
|
|
16.8
|
|
|
—
|
|
|
219.4
|
|
||||
Operating income (loss)
|
292.0
|
|
|
24.9
|
|
|
(4.0
|
)
|
|
312.9
|
|
||||
Interest expense
|
|
|
|
|
|
|
97.8
|
|
|||||||
Income taxes
|
|
|
|
|
|
|
36.2
|
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
208.1
|
|
|||||||
Total assets
|
5,266.4
|
|
|
496.9
|
|
|
389.2
|
|
|
6,152.5
|
|
||||
Construction and acquisition expenditures
|
530.5
|
|
|
47.1
|
|
|
—
|
|
|
577.6
|
|
2017
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Revenues
|
|
$1,295.8
|
|
|
|
$174.9
|
|
|
|
$2.1
|
|
|
|
$1,472.8
|
|
Depreciation and amortization
|
196.9
|
|
|
16.0
|
|
|
—
|
|
|
212.9
|
|
||||
Operating income (loss)
|
314.4
|
|
|
26.0
|
|
|
(6.7
|
)
|
|
333.7
|
|
||||
Interest expense
|
|
|
|
|
|
|
93.8
|
|
|||||||
Income taxes
|
|
|
|
|
|
|
61.9
|
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
186.6
|
|
|||||||
Total assets
|
4,871.8
|
|
|
471.9
|
|
|
412.8
|
|
|
5,756.5
|
|
||||
Construction and acquisition expenditures
|
592.4
|
|
|
44.5
|
|
|
0.5
|
|
|
637.4
|
|
2016
|
Electric
|
|
Gas
|
|
Other
|
|
Total
|
||||||||
Revenues
|
|
$1,305.8
|
|
|
|
$151.4
|
|
|
|
$1.9
|
|
|
|
$1,459.1
|
|
Depreciation and amortization
|
177.6
|
|
|
14.9
|
|
|
—
|
|
|
192.5
|
|
||||
Operating income (loss)
|
328.7
|
|
|
16.6
|
|
|
(8.1
|
)
|
|
337.2
|
|
||||
Interest expense
|
|
|
|
|
|
|
91.4
|
|
|||||||
Equity income from unconsolidated investments
|
(0.7
|
)
|
|
—
|
|
|
(39.1
|
)
|
|
(39.8
|
)
|
||||
Income taxes
|
|
|
|
|
|
|
93.3
|
|
|||||||
Earnings available for common stock
|
|
|
|
|
|
|
190.4
|
|
|||||||
Total assets
|
4,444.7
|
|
|
437.8
|
|
|
407.8
|
|
|
5,290.3
|
|
||||
Construction and acquisition expenditures
|
395.9
|
|
|
45.6
|
|
|
11.5
|
|
|
453.0
|
|
|
99
|
|
|
2018
|
|
2017
|
||||
IPL
|
|
$95
|
|
|
|
$114
|
|
WPL
|
71
|
|
|
61
|
|
|
2018
|
|
2017
|
|
2016
|
||||||
ATC billings to WPL
|
|
$106
|
|
|
|
$105
|
|
|
|
$110
|
|
WPL billings to ATC
|
11
|
|
|
10
|
|
|
13
|
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
||||||||||||||||
|
(in millions, except per share data)
|
||||||||||||||||||||||||||||||
Revenues
|
|
$916.3
|
|
|
|
$816.1
|
|
|
|
$928.6
|
|
|
|
$873.5
|
|
|
|
$853.9
|
|
|
|
$765.3
|
|
|
|
$906.9
|
|
|
|
$856.1
|
|
Operating income
|
165.7
|
|
|
151.2
|
|
|
256.1
|
|
|
121.4
|
|
|
147.2
|
|
|
153.7
|
|
|
236.3
|
|
|
134.0
|
|
||||||||
Amounts attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Income from continuing operations, net of tax
|
120.9
|
|
|
100.4
|
|
|
205.5
|
|
|
85.3
|
|
|
99.0
|
|
|
94.3
|
|
|
168.8
|
|
|
93.8
|
|
||||||||
Income from discontinued operations, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Net income
|
120.9
|
|
|
100.4
|
|
|
205.5
|
|
|
85.3
|
|
|
100.4
|
|
|
94.3
|
|
|
168.8
|
|
|
93.8
|
|
||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Income from continuing operations, net of tax
|
0.52
|
|
|
0.43
|
|
|
0.87
|
|
|
0.36
|
|
|
0.43
|
|
|
0.41
|
|
|
0.73
|
|
|
0.41
|
|
||||||||
Income from discontinued operations, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.01
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Net income
|
0.52
|
|
|
0.43
|
|
|
0.87
|
|
|
0.36
|
|
|
0.44
|
|
|
0.41
|
|
|
0.73
|
|
|
0.41
|
|
|
100
|
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
||||||||||||||||
|
(in millions)
|
||||||||||||||||||||||||||||||
Revenues
|
|
$525.8
|
|
|
|
$474.8
|
|
|
|
$547.6
|
|
|
|
$494.1
|
|
|
|
$450.5
|
|
|
|
$420.2
|
|
|
|
$527.4
|
|
|
|
$472.2
|
|
Operating income
|
75.6
|
|
|
77.7
|
|
|
143.1
|
|
|
54.4
|
|
|
51.3
|
|
|
68.1
|
|
|
133.8
|
|
|
50.9
|
|
||||||||
Net income
|
49.3
|
|
|
54.2
|
|
|
129.1
|
|
|
41.6
|
|
|
39.8
|
|
|
45.3
|
|
|
123.0
|
|
|
18.9
|
|
||||||||
Earnings available for common stock
|
46.7
|
|
|
51.7
|
|
|
126.5
|
|
|
39.1
|
|
|
37.2
|
|
|
42.8
|
|
|
120.4
|
|
|
16.4
|
|
|
2018
|
|
2017
|
||||||||||||||||||||||||||||
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
|
March 31
|
|
June 30
|
|
Sep. 30
|
|
Dec. 31
|
||||||||||||||||
|
(in millions)
|
||||||||||||||||||||||||||||||
Revenues
|
|
$381.7
|
|
|
|
$330.8
|
|
|
|
$370.7
|
|
|
|
$369.4
|
|
|
|
$393.1
|
|
|
|
$334.8
|
|
|
|
$370.2
|
|
|
|
$374.7
|
|
Operating income
|
84.0
|
|
|
63.4
|
|
|
104.2
|
|
|
61.3
|
|
|
88.6
|
|
|
76.2
|
|
|
93.5
|
|
|
75.4
|
|
||||||||
Net income
|
54.0
|
|
|
39.8
|
|
|
76.3
|
|
|
38.0
|
|
|
45.5
|
|
|
38.1
|
|
|
49.8
|
|
|
53.2
|
|
||||||||
Earnings available for common stock
|
54.0
|
|
|
39.8
|
|
|
76.3
|
|
|
38.0
|
|
|
45.5
|
|
|
38.1
|
|
|
49.8
|
|
|
53.2
|
|
|
101
|
|
|
102
|
|
|
|
(A)
|
|
|
|
(C)
|
|
|
Number of securities to be
|
|
(B)
|
|
Number of securities remaining available
|
|
|
issued upon exercise of
|
|
Weighted-average exercise
|
|
for future issuance under equity
|
|
|
outstanding options,
|
|
price of outstanding options,
|
|
compensation plans (excluding
|
Plan Category
|
|
warrants and rights
|
|
warrants and rights
|
|
securities reflected in column (A))
|
Equity compensation plans approved by shareowners
|
|
948,186 (a)
|
|
$37.37
|
|
6,758,044 (b)
|
Equity compensation plans not approved by shareowners (c)
|
|
N/A
|
|
N/A
|
|
N/A (d)
|
|
|
948,186
|
|
$37.37
|
|
6,758,044
|
(a)
|
Represents performance shares, performance restricted stock units and restricted stock units granted under the OIP. Performance shares may be paid out in shares of Alliant Energy’s common stock, cash, or a combination of cash and stock and performance restricted stock units are paid out in shares of Alliant Energy’s common stock. The performance share and performance restricted stock unit awards are adjusted by a performance multiplier, which ranges from zero to 200%, based on the performance criteria. The performance share and performance restricted stock unit awards included in column (A) of the table reflect an assumed payout in the form of Alliant Energy’s common stock at the maximum performance multiplier of 200% for the
2018
and
2017
grants, and at the estimated payout percentages for the
2016
grants. Also included are restricted stock units granted under the OIP, which may be paid out in shares of Alliant Energy’s common stock, cash, or a combination of cash and stock at the expiration of a three-year time-vesting period.
|
(b)
|
All of the available shares under the Amended and Restated OIP may be issued as awards in the form of shares of Alliant Energy’s common stock, restricted stock, restricted stock units, performance shares, performance units and other stock-based or cash-based awards. As of
December 31, 2018
, there were performance shares and restricted stock units (performance- and time-vesting) outstanding under the Amended and Restated OIP.
|
(c)
|
As of
December 31, 2018
, there were
384,580
shares of Alliant Energy’s common stock held under the DCP, which is described in
Note 13(c)
.
|
(d)
|
There is no limit on the number of shares of Alliant Energy’s common stock that may be held under the DCP.
|
|
103
|
|
|
IPL
|
|
WPL
|
||||||||||||||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||||||||||||||
|
Fees
|
|
% of Total
|
|
Fees
|
|
% of Total
|
|
Fees
|
|
% of Total
|
|
Fees
|
|
% of Total
|
||||||||||||
Audit fees
|
|
$1,483
|
|
|
91
|
%
|
|
|
$1,083
|
|
|
90
|
%
|
|
|
$1,102
|
|
|
94
|
%
|
|
|
$1,070
|
|
|
93
|
%
|
Audit-related fees
|
111
|
|
|
7
|
%
|
|
67
|
|
|
5
|
%
|
|
37
|
|
|
3
|
%
|
|
42
|
|
|
4
|
%
|
||||
Tax fees
|
31
|
|
|
2
|
%
|
|
9
|
|
|
1
|
%
|
|
24
|
|
|
2
|
%
|
|
2
|
|
|
—
|
%
|
||||
All other fees
|
10
|
|
|
—
|
%
|
|
44
|
|
|
4
|
%
|
|
8
|
|
|
1
|
%
|
|
36
|
|
|
3
|
%
|
||||
|
|
$1,635
|
|
|
100
|
%
|
|
|
$1,203
|
|
|
100
|
%
|
|
|
$1,171
|
|
|
100
|
%
|
|
|
$1,150
|
|
|
100
|
%
|
|
104
|
|
(1)
|
Consolidated Financial Statements - Refer to
Item 8
Financial Statements and Supplementary Data.
|
(2)
|
Financial Statement Schedules
-
|
ALLIANT ENERGY CORPORATION (Parent Company Only)
|
Year Ended December 31,
|
||||||||||
CONDENSED STATEMENTS OF INCOME
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Revenues
|
|
$—
|
|
|
|
$—
|
|
|
|
$1
|
|
Operating expenses
|
5
|
|
|
2
|
|
|
3
|
|
|||
Operating loss
|
(5
|
)
|
|
(2
|
)
|
|
(2
|
)
|
|||
Other (income) and deductions:
|
|
|
|
|
|
||||||
Equity earnings from consolidated subsidiaries
|
(523
|
)
|
|
(457
|
)
|
|
(374
|
)
|
|||
Interest expense
|
4
|
|
|
3
|
|
|
3
|
|
|||
Other
|
2
|
|
|
—
|
|
|
(2
|
)
|
|||
Total other (income) and deductions
|
(517
|
)
|
|
(454
|
)
|
|
(373
|
)
|
|||
Income before income taxes
|
512
|
|
|
452
|
|
|
371
|
|
|||
Income tax benefit
|
(1
|
)
|
|
(6
|
)
|
|
(1
|
)
|
|||
Net income
|
|
$513
|
|
|
|
$458
|
|
|
|
$372
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Commercial paper
|
|
$285
|
|
|
|
$295
|
|
Notes payable to affiliated companies
|
719
|
|
|
305
|
|
||
Other
|
21
|
|
|
12
|
|
||
Total current liabilities
|
1,025
|
|
|
612
|
|
||
Other liabilities
|
17
|
|
|
20
|
|
||
Common equity:
|
|
|
|
||||
Common stock and additional paid-in capital
|
2,048
|
|
|
1,848
|
|
||
Retained earnings
|
2,545
|
|
|
2,344
|
|
||
Accumulated other comprehensive income
|
2
|
|
|
—
|
|
||
Shares in deferred compensation trust
|
(10
|
)
|
|
(11
|
)
|
||
Total common equity
|
4,585
|
|
|
4,181
|
|
||
Total liabilities and equity
|
|
$5,627
|
|
|
|
$4,813
|
|
|
105
|
|
ALLIANT ENERGY CORPORATION (Parent Company Only)
|
Year Ended December 31,
|
||||||||||
CONDENSED STATEMENTS OF CASH FLOWS
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in millions)
|
||||||||||
Net cash flows from operating activities
|
|
$311
|
|
|
|
$273
|
|
|
|
$254
|
|
Cash flows from (used for) investing activities:
|
|
|
|
|
|
|
|
|
|||
Capital contributions to consolidated subsidiaries
|
(625
|
)
|
|
(290
|
)
|
|
(250
|
)
|
|||
Capital repayments from consolidated subsidiaries
|
—
|
|
|
—
|
|
|
130
|
|
|||
Net change in notes receivable from and payable to affiliates
|
441
|
|
|
54
|
|
|
294
|
|
|||
Other
|
—
|
|
|
—
|
|
|
10
|
|
|||
Net cash flows from (used for) investing activities
|
(184
|
)
|
|
(236
|
)
|
|
184
|
|
|||
Cash flows used for financing activities:
|
|
|
|
|
|
|
|
|
|||
Common stock dividends
|
(312
|
)
|
|
(288
|
)
|
|
(267
|
)
|
|||
Proceeds from issuance of common stock, net
|
197
|
|
|
150
|
|
|
27
|
|
|||
Payments to retire long-term debt
|
—
|
|
|
—
|
|
|
(250
|
)
|
|||
Net change in commercial paper
|
(10
|
)
|
|
103
|
|
|
52
|
|
|||
Other
|
(2
|
)
|
|
(2
|
)
|
|
—
|
|
|||
Net cash flows used for financing activities
|
(127
|
)
|
|
(37
|
)
|
|
(438
|
)
|
|||
Net increase (decrease) in cash, cash equivalents and restricted cash
|
—
|
|
|
—
|
|
|
—
|
|
|||
Cash, cash equivalents and restricted cash at beginning of period
|
—
|
|
|
—
|
|
|
—
|
|
|||
Cash, cash equivalents and restricted cash at end of period
|
|
$—
|
|
|
|
$—
|
|
|
|
$—
|
|
Supplemental cash flows information:
|
|
|
|
|
|
|
|
|
|||
Cash (paid) refunded during the period for:
|
|
|
|
|
|
|
|
|
|||
Interest, net of capitalized interest
|
|
($4
|
)
|
|
|
($3
|
)
|
|
|
($3
|
)
|
Income taxes, net
|
5
|
|
|
—
|
|
|
(37
|
)
|
|
106
|
|
|
|
|
|
Additions
|
|
|
|
|
Balance,
|
Charged to
|
Charged to Other
|
|
Balance,
|
||
Description
|
January 1
|
Expense
|
Accounts (a)
|
Deductions (b)
|
December 31
|
||
|
(in millions)
|
|
Accumulated Provision for Uncollectible Accounts:
|
|
|
|
|
|||||||||||||
|
|
Alliant Energy (c)
|
|
|
|
|
|
|||||||||||
|
|
|
Year ended December 31, 2018
|
|
$12.0
|
|
|
$21.2
|
|
|
$1.0
|
|
|
$23.7
|
|
|
$10.5
|
|
|
|
|
Year ended December 31, 2017
|
8.7
|
|
15.1
|
|
5.4
|
|
17.2
|
|
12.0
|
|
|||||
|
|
|
Year ended December 31, 2016
|
4.8
|
|
17.4
|
|
8.8
|
|
22.3
|
|
8.7
|
|
|||||
|
|
IPL (c)
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2018
|
|
$1.3
|
|
|
$20.9
|
|
|
$—
|
|
|
$19.1
|
|
|
$3.1
|
|
|
|
|
Year ended December 31, 2017
|
1.1
|
|
14.9
|
|
—
|
|
14.7
|
|
1.3
|
|
|||||
|
|
|
Year ended December 31, 2016
|
0.6
|
|
17.2
|
|
—
|
|
16.7
|
|
1.1
|
|
|||||
|
|
WPL
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2018
|
|
$10.7
|
|
|
$0.3
|
|
|
$1.0
|
|
|
$4.6
|
|
|
$7.4
|
|
|
|
|
Year ended December 31, 2017
|
7.1
|
|
0.2
|
|
5.4
|
|
2.0
|
|
10.7
|
|
|||||
|
|
|
Year ended December 31, 2016
|
3.7
|
|
0.1
|
|
8.8
|
|
5.5
|
|
7.1
|
|
|
Accumulated Provision for Other Reserves (d):
|
|||||||||||||||||
|
|
Alliant Energy
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2018
|
|
$23.0
|
|
|
$1.4
|
|
|
$—
|
|
|
$9.5
|
|
|
$14.9
|
|
|
|
|
Year ended December 31, 2017
|
25.1
|
|
3.3
|
|
5.1
|
|
10.5
|
|
23.0
|
|
|||||
|
|
|
Year ended December 31, 2016
|
27.1
|
|
6.1
|
|
—
|
|
8.1
|
|
25.1
|
|
|||||
|
|
IPL
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2018
|
|
$7.6
|
|
|
$0.9
|
|
|
$—
|
|
|
$2.1
|
|
|
$6.4
|
|
|
|
|
Year ended December 31, 2017
|
8.7
|
|
0.3
|
|
—
|
|
1.4
|
|
7.6
|
|
|||||
|
|
|
Year ended December 31, 2016
|
9.4
|
|
1.0
|
|
—
|
|
1.7
|
|
8.7
|
|
|||||
|
|
WPL
|
|
|
|
|
||||||||||||
|
|
|
Year ended December 31, 2018
|
|
$6.4
|
|
|
$0.5
|
|
|
$—
|
|
|
$2.3
|
|
|
$4.6
|
|
|
|
|
Year ended December 31, 2017
|
8.1
|
|
0.1
|
|
—
|
|
1.8
|
|
6.4
|
|
|||||
|
|
|
Year ended December 31, 2016
|
11.4
|
|
1.8
|
|
—
|
|
5.1
|
|
8.1
|
|
(a)
|
Accumulated provision for uncollectible accounts: In accordance with its regulatory treatment, certain amounts provided by WPL are recorded in regulatory assets. WPL expenses these amounts when an uncollectible account is written-off.
|
(b)
|
Deductions are of the nature for which the reserves were created. In the case of the accumulated provision for uncollectible accounts, deductions from this reserve are reduced by recoveries of amounts previously written off.
|
(c)
|
Refer to
Note 5(b)
for discussion of IPL’s sales of accounts receivable program.
|
(d)
|
Other reserves are largely related to injury and damage claims arising in the ordinary course of business, and the impacts of Federal Tax Reform.
|
(3)
|
Exhibits Required by SEC Regulation S-K
- Pursuant to Item 601(b)(4)(iii) of Regulation S-K, the registrants agree to furnish to the SEC, upon request, any instrument defining the rights of holders of unregistered long-term debt not filed as an exhibit to this combined Form 10-K. No such instrument authorizes securities in excess of 10% of the total assets of Alliant Energy, IPL or WPL, as the case may be. The following exhibits for Alliant Energy, IPL and WPL are filed herewith or incorporated herein by reference.
|
|
107
|
|
Exhibit Number
|
|
Description
|
1.1
|
|
|
3.1
|
|
|
3.1a
|
|
|
3.2
|
|
|
3.3
|
|
|
3.4
|
|
|
3.5
|
|
|
3.6
|
|
|
4.1
|
|
|
4.2
|
|
|
4.3
|
|
|
4.4
|
|
|
4.5
|
|
|
4.6
|
|
|
4.7
|
|
|
4.8
|
|
|
4.9
|
|
|
4.10
|
|
|
4.11
|
|
|
4.12
|
|
|
4.13
|
|
|
4.14
|
|
|
4.15
|
|
|
4.15a
|
|
|
4.16
|
|
|
4.17
|
|
|
4.18
|
|
|
108
|
|
Exhibit Number
|
|
Description
|
4.19
|
|
|
4.20
|
|
|
4.20a
|
|
|
4.21
|
|
|
4.22
|
|
|
4.23
|
|
|
4.24
|
|
|
10.1
|
|
|
10.2
|
|
|
10.3
|
|
|
10.4
|
|
|
10.5
|
|
|
10.6#
|
|
|
10.6a#
|
|
|
10.6b#
|
|
|
10.6c#
|
|
|
10.6d#
|
|
|
10.6e#
|
|
|
10.6f#
|
|
|
10.6g#
|
|
|
10.7#
|
|
|
10.7a#
|
|
|
10.7b#
|
|
|
10.7c#
|
|
|
10.8#
|
|
|
10.8a#
|
|
|
10.9#
|
|
|
10.10#
|
|
|
10.10a#
|
|
|
109
|
|
Exhibit Number
|
|
Description
|
10.10b#
|
|
|
10.11#
|
|
|
10.11a#
|
|
|
10.12#
|
|
|
10.13#
|
|
|
10.13a#
|
|
|
10.13b#
|
|
|
10.14#
|
|
|
10.15#
|
|
|
10.15a#
|
|
|
10.16#
|
|
|
10.17#
|
|
|
10.18#
|
|
|
10.19#
|
|
|
21.1
|
|
|
23.1
|
|
|
23.2
|
|
|
23.3
|
|
|
31.1
|
|
|
31.2
|
|
|
31.3
|
|
|
31.4
|
|
|
31.5
|
|
|
31.6
|
|
|
32.1
|
|
|
32.2
|
|
|
32.3
|
|
|
101.INS
|
|
Extensible Business Reporting Language (XBRL) Instance Document
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
110
|
|
ALLIANT ENERGY
|
|
INTERSTATE POWER
|
|
WISCONSIN POWER
|
CORPORATION
|
|
AND LIGHT COMPANY
|
|
AND LIGHT COMPANY
|
By: /s/ Patricia L. Kampling
|
|
By: /s/ John O. Larsen
|
|
By: /s/ John O. Larsen
|
Patricia L. Kampling
|
|
John O. Larsen
|
|
John O. Larsen
|
Chairman and Chief Executive Officer
|
|
Chief Executive Officer
|
|
Chief Executive Officer
|
ALLIANT ENERGY
|
|
INTERSTATE POWER
|
|
WISCONSIN POWER
|
CORPORATION
|
|
AND LIGHT COMPANY
|
|
AND LIGHT COMPANY
|
/s/ Patricia L. Kampling
|
|
/s/ John O. Larsen
|
|
/s/ John O. Larsen
|
Patricia L. Kampling
|
|
John O. Larsen
|
|
John O. Larsen
|
Chairman, Chief Executive Officer and Director (Principal Executive Officer)
|
|
Chief Executive Officer and Director (Principal Executive Officer)
|
|
Chief Executive Officer and Director (Principal Executive Officer)
|
|
|
|
|
|
/s/ Robert J. Durian
|
|
/s/ Robert J. Durian
|
|
/s/ Robert J. Durian
|
Robert J. Durian
|
|
Robert J. Durian
|
|
Robert J. Durian
|
Senior Vice President and Chief Financial Officer (Principal Financial Officer)
|
|
Senior Vice President and Chief Financial Officer (Principal Financial Officer)
|
|
Senior Vice President and Chief Financial Officer (Principal Financial Officer)
|
|
|
|
|
|
/s/ Benjamin M. Bilitz
|
|
/s/ Benjamin M. Bilitz
|
|
/s/ Benjamin M. Bilitz
|
Benjamin M. Bilitz
|
|
Benjamin M. Bilitz
|
|
Benjamin M. Bilitz
|
Chief Accounting Officer and Controller (Principal Accounting Officer)
|
|
Chief Accounting Officer and Controller (Principal Accounting Officer)
|
|
Chief Accounting Officer and Controller (Principal Accounting Officer)
|
|
|
|
|
|
/s/ Patrick E. Allen
|
|
/s/ Patricia L. Kampling
|
|
/s/ Patricia L. Kampling
|
Patrick E. Allen, Director
|
|
Patricia L. Kampling, Chairman and Director
|
|
Patricia L. Kampling, Chairman and Director
|
|
|
|
|
|
/s/ Deborah B. Dunie
|
|
/s/ Patrick E. Allen
|
|
/s/ Patrick E. Allen
|
Deborah B. Dunie, Director
|
|
Patrick E. Allen, Director
|
|
Patrick E. Allen, Director
|
|
|
|
|
|
/s/ Darryl B. Hazel
|
|
/s/ Deborah B. Dunie
|
|
/s/ Deborah B. Dunie
|
Darryl B. Hazel, Director
|
|
Deborah B. Dunie, Director
|
|
Deborah B. Dunie, Director
|
|
|
|
|
|
/s/ John O. Larsen
|
|
/s/ Darryl B. Hazel
|
|
/s/ Darryl B. Hazel
|
John O. Larsen, Director
|
|
Darryl B. Hazel, Director
|
|
Darryl B. Hazel, Director
|
|
|
|
|
|
/s/ Singleton B. McAllister
|
|
/s/ Singleton B. McAllister
|
|
/s/ Singleton B. McAllister
|
Singleton B. McAllister, Director
|
|
Singleton B. McAllister, Director
|
|
Singleton B. McAllister, Director
|
|
|
|
|
|
/s/ Roger K. Newport
|
|
/s/ Roger K. Newport
|
|
/s/ Roger K. Newport
|
Roger K. Newport, Director
|
|
Roger K. Newport, Director
|
|
Roger K. Newport, Director
|
|
|
|
|
|
/s/ Thomas F. O’Toole
|
|
/s/ Thomas F. O’Toole
|
|
/s/ Thomas F. O’Toole
|
Thomas F. O’Toole, Director
|
|
Thomas F. O’Toole, Director
|
|
Thomas F. O’Toole, Director
|
|
|
|
|
|
/s/ Dean C. Oestreich
|
|
/s/ Dean C. Oestreich
|
|
/s/ Dean C. Oestreich
|
Dean C. Oestreich, Director
|
|
Dean C. Oestreich, Director
|
|
Dean C. Oestreich, Director
|
|
|
|
|
|
/s/ Carol P. Sanders
|
|
/s/ Carol P. Sanders
|
|
/s/ Carol P. Sanders
|
Carol P. Sanders, Director
|
|
Carol P. Sanders, Director
|
|
Carol P. Sanders, Director
|
|
|
|
|
|
/s/ Susan D. Whiting
|
|
/s/ Susan D. Whiting
|
|
/s/ Susan D. Whiting
|
Susan D. Whiting, Director
|
|
Susan D. Whiting, Director
|
|
Susan D. Whiting, Director
|
|
111
|
|
1.
|
Award
. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted [Number of Shares] target Performance Shares on the Grant Date. Performance Shares granted under this Agreement are units that will be reflected in a book account maintained by the Company during the Performance Period set forth below, and that will be settled in Shares to the extent provided in this Agreement and the Plan.
|
2.
|
Performance Period; Performance Goals
.
|
(a)
|
The “
Performance Period
” is the period beginning on _________, 20__ and ending on __________, 20__.
|
(b)
|
Except as otherwise provided in this Agreement (including Section 9 below), the Performance Shares will become earned based on achievement of the requisite performance goal or performance goals (the “
Performance Goals
”) determined in accordance with the provisions of
Exhibit 1
, which is attached to and forms a part of this Agreement. Any unearned Performance Shares automatically will terminate and be cancelled, without the payment of any consideration following the last day of the Performance Period.
|
3.
|
Settlement of Awards
. Subject to Section 9 below, the Company shall deliver to the Employee one Share for each Performance Share earned by the Employee, as determined in accordance with the provisions of
Exhibit 1
, except that cash shall be distributed in lieu of any fractional Share.
|
4.
|
Time of Payment
. Except as otherwise provided in this Agreement (including Section 9 below), payment of Performance Shares earned in accordance with the provisions of Section 3 will be delivered as soon as practicable (but in any event within 75 days) following the last day of the Performance Period set forth in Section 2(a), subject to the Committee approving in writing as to the satisfaction of the requisite Performance Goal or Goals.
|
5.
|
Retirement, Disability, or Death During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of the Employee’s Retirement (as defined below), Disability, or death, the Employee shall be entitled
|
6.
|
Involuntary Termination Without Cause During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of an Involuntary Termination without Cause (as defined below), the Employee shall be entitled to the prorated value of the Award earned, determined at the end of the Performance Period and only if and to the extent the Performance Goals are met, based on a fraction, the numerator of which is the number of months the Employee was employed during the Performance Period and the denominator of which is 36.
|
7.
|
Other Terminations of Employment During Performance Period
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control for any reason other than the Employee’s Retirement, Disability, Involuntary Termination without Cause, or death, the Performance Shares granted under this Agreement automatically will terminate and be cancelled on the date of such termination of employment.
|
8.
|
Dividend Equivalents
.
|
(a)
|
After the Performance Period has ended (or, if a Change in Control occurs during the Performance Period, the effective date of the Change in Control), dividend equivalents (“
Dividend Equivalents
”) will be calculated and credited to the account of the Employee with respect to the percentage of Performance Shares that are earned (as determined in accordance with Section 3 or Section 9(a)(i) as applicable). Dividend Equivalents will be credited as additional Performance Shares, the number of which will be equal to the number of whole Shares that could be purchased with the amount of the Dividend Equivalents, based on the Fair Market Value of the Shares as of the dividend payment date and the number of earned Performance Shares (as determined in accordance with Section 3 or Section 9(a)(i) as applicable).
|
(b)
|
Any Dividend Equivalents credited to the Employee’s account pursuant to this Section 8 shall not be vested or paid until the dates of vesting or payment of the Performance Shares with respect to which such Dividend Equivalents are credited, and such Dividend Equivalents shall be subject to the same restrictions and other terms and conditions as apply to the Performance Shares with respect to which they were credited.
|
(c)
|
No Dividend Equivalents shall be credited to the Employee with respect to record dates occurring prior to the Grant Date or with respect to record dates occurring on or after the date, if any, on which the Performance Shares are cancelled and terminated.
|
9.
|
Change in Control
.
|
(a)
|
No Termination of Employment Prior to a Change in Control
.
|
(i)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, if a Change in Control occurs during the Performance Period and the Employee’s employment does not terminate before the effectiveness of the Change in Control, then the Employee shall be entitled to the earned Performance Shares (as determined in accordance with this Section 9(a)(i)), which automatically will convert into a contractual right to receive a cash payment (the “
Cash Payment Right
”) in an amount equal to (i) the number of earned Performance Shares (including any additional Performance Shares determined in accordance with Section 8(a)), multiplied by (ii) the per Share Fair Market Value as of the trading day immediately preceding the effective date of the Change in Control. For purposes of this Section 9, the “earned Performance Shares” means the number of Performance Shares that would have been earned by the Employee in accordance with
Exhibit 1
assuming that the day immediately preceding the effective date of the Change in Control is the last day of the Performance Period. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right. Any portion of the Performance Shares that is not converted into the Cash Payment Right automatically shall terminate and be cancelled immediately prior to the effectiveness of the Change in Control, without the payment of any consideration therefor.
|
(ii)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, the Cash Payment Right shall be paid as soon as practicable (but in any event within 75 days) after the last day of the Performance Period set forth in Section 2(a), provided that the Employee remains continuously employed by the Company or an Affiliate or any successor thereto through the last day of such Performance Period. Notwithstanding the immediately preceding sentence, in the event that the Employee experiences a termination of employment due to the Employee’s Retirement (as defined below), Disability, or death or an involuntary termination of employment by action of the Company
(or its successor)
(other than a termination due to Cause) or due to the Employee’s resignation for Good Reason prior to the last day of the Performance Period set forth in Section 2(a), the Cash Payment Right will be paid in accordance with the first sentence of this Section 9(a)(ii) as though the Employee remained continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Performance Period.
|
(b)
|
Certain Terminations of Employment Prior to a Change in Control
. Solely for purposes of Sections 5 and 6 of the Agreement, if the Employee’s employment terminates for any of the reasons set forth in such Sections 5 and 6 prior to a Change in Control and a Change in Control occurs during the Performance Period, then the Employee shall be entitled to the earned Performance Shares determined in accordance with Section 9(a)(i) in lieu of any amount set forth in Section 5 or Section 6, as applicable, which Performance Shares automatically shall convert into a contractual right to receive the Cash Payment Right. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right. For the avoidance of doubt, the Cash Payment Right will be paid at such time provided under Section 4.
|
10.
|
Definitions
.
|
(a)
|
“
Involuntary Termination without Cause
” shall mean that the Employee experiences a termination of employment due to the Employee’s (i) receipt of a written notification that his or her position is being eliminated as a result of a structured job elimination program or (ii) resignation for a Pre-Change in Control Good Reason.
|
(b)
|
“
Pre-Change in Control Good Reason
” shall mean that an applicable event occurs and the Employee provides notice to the Company of the existence of the event within 90 days of the initial existence of the event, the Company fails to cure the event within 30 days of such notice and the Employee resigns within 30 days following the last day of such 30-day cure period. The applicable events are any one or more of the following: (i) a material diminution in the Employee’s base compensation and (ii) a material diminution in the Employee’s authority, duties, or responsibilities.
|
(c)
|
“
Retirement
” shall mean the Employee’s employment terminates (with the consent of the Company) after he or she has reached age 55 and the Employee’s age, in whole years, added to the number of whole years of the Employee’s continuous employment with the Company total 65 or more.
|
11.
|
Nontransferability of Performance Shares
. The Performance Shares shall not be assignable, alienable, saleable or transferable by the Employee other than by will or the laws of descent and distribution prior to settlement of the Awards pursuant to Section 3 (or, if applicable, Section 9);
provided
,
however
, that the Employee shall be entitled, in the manner provided in Section 13 hereof, to designate a beneficiary to receive any Shares or cash issuable with respect to the Award upon the death of the Employee.
|
12.
|
Tax Withholding
. The Company may deduct and withhold from any cash otherwise payable to the Employee such amount as may be required for the purpose of satisfying the Company’s obligation to withhold federal, state or local taxes. Further, in the event the amount so withheld is insufficient for such purpose, the Company may require that the Employee pay to the Company upon its demand or otherwise make arrangements satisfactory to the Company for payment of, such amount as may be requested by the Company in order to satisfy its obligation to withhold any such taxes.
|
13.
|
Designation of Beneficiary
. The Employee shall be permitted to designate one or more beneficiaries (each, a “
Beneficiary
”) on a Company-approved form who shall be entitled to payouts hereunder, to the extent payouts are made, after the death of the Employee. The terms and conditions of any such designation (including any changes thereto by the Employee) shall be subject to the terms and conditions of such Company-approved beneficiary designation form. If no such beneficiary designation is in effect at the time of the Employee’s death, or if no designated Beneficiary survives the Employee or if such designation conflicts with law, the Employee’s estate acting through his or her legal representative shall be entitled to receive payouts hereunder, to the extent they are made, after the death of the Employee. If the Committee is in doubt as to the right of any person to the Performance Shares or any payout thereunder, the Company may refuse to settle such matter, without liability for any interest or dividends on the Performance Shares, until the Committee determines the person entitled to the Performance Shares or any payout thereunder, or the Company may apply to any court of appropriate jurisdiction and such application shall be a complete discharge of the liability of the Company therefor.
|
14.
|
Transfer Restriction
. Any Shares delivered pursuant to Section 3 hereof shall thereafter be freely transferable by the Employee, provided that the Employee agrees for himself or herself and his or her heirs, legatees and legal representatives, with respect to all Shares acquired pursuant to the terms and conditions of this Agreement (or any Shares issued pursuant to a stock dividend or stock split thereon or any securities issued in lieu thereof or in substitution or exchange therefor), that he or she and his or her heirs, legatees and legal representatives will not sell or otherwise dispose of such shares except pursuant to a registration statement filed by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “
Act
”), or except in a transaction which is determined by counsel to the Company to be exempt from registration under the Act and any applicable state securities laws; and to execute and deliver to the Company such investment representations and warranties, and to take such other actions, as counsel for the Company determines may be necessary or appropriate for compliance with the Act and any other applicable securities laws. The Employee agrees that any certificates representing any of the Shares acquired pursuant to the terms and conditions of this Agreement may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws.
|
15.
|
Status of Employee
. The Employee shall not be deemed for any purposes to be a shareowner of the Company with respect to any of the Performance Shares except to the extent that the Company has delivered Shares pursuant to Section 3 hereof. Therefore, the Employee will not have the right of shareowners to vote or, subject to Section 8, to receive dividends or distributions of any kind prior to the Company delivering Shares pursuant to Section 3 hereof. Neither the Plan nor the Performance Shares shall confer upon the Employee any right to continue as an employee of the Company or any of its Affiliates, nor to interfere in any way with the right of the Company to terminate the employment or directorship of the Employee at any time.
|
16.
|
Powers of the Company Not Affected
. The existence of the Performance Shares shall not affect in any way the right or power of the Company or its shareowners to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred or prior preference stock senior to or affecting the Shares or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business or any other corporate act or proceeding, whether of a similar character or otherwise.
|
17.
|
Interpretation by the Committee
. As a condition of the granting of the Performance Shares, the Employee agrees, for himself or herself and for his or her legal representatives or guardians, that this Agreement shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Agreement and any determination made by the Committee pursuant to this Agreement shall be final, binding and conclusive.
|
18.
|
Miscellaneous
.
|
(a)
|
This Agreement shall be governed and construed in accordance with the internal laws of the State of Wisconsin applicable to contracts made and to be performed therein between residents thereof. As a condition of the granting of the Performance Shares, the Employee irrevocably consents to the nonexclusive jurisdiction and venue of the state and federal courts located in the State of Wisconsin.
|
(b)
|
The Plan and this Agreement set forth the entire understanding between the Company and the Employee with respect to the subject matter hereof and shall supersede in all respects, and the Employee hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter, including, but not limited to, any Key Executive Employment and Severance Agreement. For the avoidance of doubt, the Plan and this Agreement shall control in the event there is any express conflict between the Plan and this Agreement and any prior or other agreement or understanding between the parties.
|
(c)
|
This Agreement may not be amended or modified except by the written consent of the parties hereto. Notwithstanding the foregoing, the Committee need not obtain Employee (or other interested party) consent for any such action: (i) to the extent the action is deemed necessary by the Committee to comply with any applicable law; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment for the Company of any Award; (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest of the affected Employee; or (iv) to the extent unilateral action by the Committee is permitted under Section 14(c) of the Plan.
|
(d)
|
The Award and any Shares or cash issued thereunder shall be subject to potential cancellation, rescission, payback, recoupment or other action in accordance with the terms of any Company clawback policy (the “
Clawback Policy
”), as then in effect and as it may be amended from time to time, to the extent the Clawback Policy applies to the Award and any Shares or cash issued thereunder (including a Clawback Policy implemented or amendments made thereto after the Grant Date for the Award). By accepting the Performance Shares, the Employee agrees to execute any additional documents as may be requested by the Company to effect the Company’s application, implementation and adoption of a Clawback Policy with respect to the Award and any Shares or cash issued thereunder.
|
(e)
|
The captions of this Agreement are inserted for convenience of reference only and shall not be taken into account in construing this Agreement.
|
1.
|
Purpose
: The purpose of this Exhibit 1 is to set forth the Performance Goal or Goals that will be applied to determine the amount of the Award that will be earned under the terms of the attached Performance Share Agreement (the “
Agreement
”). This Exhibit 1 is incorporated into and forms a part of the Agreement.
|
[Employee]
|
[Year]
|
Grant Date
|
[Date]
|
Grant Date Fair Market Value
|
$[Share Price]
|
Performance Shares (Target)
|
[Number of Shares]
|
Performance Period
|
[Dates]
|
2.
|
Performance Goals
: The Award will be based on the Company’s Total Shareholder Return (TSR) performance (which represents stock price appreciation plus dividends reinvested) based on the three-year average relative to an investor-owned utility peer group. The peer group is defined as the group that comprises the Edison Electric Institute (EEI) Stock Index.
|
3.
|
Amount of Award
: Actual awards will be based on Company performance as specified above, and can range from __ to __ percent of target. The number of Performance Shares earned by the Employee shall be determined in accordance with the following schedule:
|
3-yr Total Shareholder Return - Percentile Relative to Peer Group*
|
% of Target Value
Paid Out
|
__ percentile or greater
|
___%
|
__
Percentile
|
___%
|
__
Percentile
|
___%
|
__
Percentile
|
___%
|
__
Percentile
|
___%
|
__
Percentile
|
__%
|
__
Percentile
|
__%
|
Below __
Percentile
|
__%
|
1.
|
Award
. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted [Number of Shares] RSUs on the Grant Date with a vesting commencement date of _________, 20__ (the “
Vesting Commencement Date
”). RSUs granted under this Agreement are units that will be reflected in a book account maintained by the Company during the Term set forth below, and that will be settled in Shares to the extent provided in this Agreement and the Plan.
|
2.
|
Term; Vesting Schedule
.
|
(a)
|
The “
Term
” is the period beginning on the Vesting Commencement Date and ending on _________, 20__.
|
(b)
|
Except as otherwise provided in this Agreement (including Section 9 below), each RSU will become earned and vested (each a “
Vested RSU
” and, collectively, “
Vested RSUs
”) on the last day of the Term set forth in Section 2(a), if the Employee is continuously employed with the Company or any of its Affiliates through the last day of the Term.
|
3.
|
Settlement of Awards
. Subject to Section 9 below, the Company shall deliver to the Employee one Share for each Vested RSU, except that cash shall be distributed in lieu of any fractional Share.
|
4.
|
Time of Payment
. Except as otherwise provided in this Agreement (including Section 9 below), payment of Vested RSUs will be delivered as soon as practicable (but in any event within 75 days) following the last day of the Term set forth in Section 2(a).
|
5.
|
Retirement, Disability, or Death During the Term and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Term and prior to a Change in Control because of the Employee’s Retirement (as defined below), Disability, or death, the full number of RSUs shall be treated as Vested RSUs, so long as the termination event occurs on or after the first anniversary of the Vesting Commencement Date. If the employment termination event occurs prior to the first anniversary of the Vesting Commencement Date, a pro-rated number of RSUs shall be treated as Vested RSUs, based on a fraction, the numerator of which is the number of months the Employee was employed during the Term and the denominator of which is 12. Any RSUs that do not become Vested RSUs automatically will terminate and be cancelled, without the payment of any consideration, on the date the Employee’s employment with the Company and its Affiliates terminates.
|
6.
|
Involuntary Termination Without Cause During the Term and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates after the first anniversary of the Vesting Commencement Date and prior to a Change in Control because of an Involuntary Termination without Cause (as defined below), a pro-rated number of RSUs shall be treated as Vested RSUs, based on a fraction, the numerator of which is the number of months the Employee was employed following the Vesting Commencement Date and the denominator of which is 36. Any RSUs that do not become Vested RSUs automatically will terminate and be cancelled, without the payment of any consideration, on the date the Employee’s employment with the Company and its Affiliates terminates.
|
7.
|
Other Terminations of Employment During Term and Prior to Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Term and prior to a Change in Control for any reason other than the Employee’s Retirement, Disability, Involuntary Termination without Cause, or death, the RSUs granted under this Agreement automatically will terminate and be cancelled on the date of such termination of employment without the payment of any consideration.
|
8.
|
Dividend Equivalents
.
|
(a)
|
After the Term has ended (or, if a Change in Control occurs prior to the end of the Term, the effective date of the Change in Control), dividend equivalents (“
Dividend Equivalents
”) will be calculated and credited to the account of the Employee with respect to the number of Vested RSUs. Dividend Equivalents will be credited as additional RSUs, the number of which will be equal to the number of whole Shares that could be purchased with the amount of the Dividend Equivalents, based on the Fair Market Value of the Shares as of the dividend payment date and the number of Vested RSUs.
|
(b)
|
Any Dividend Equivalents credited to the Employee’s account pursuant to this Section 8 shall not be vested or paid until the dates of vesting or payment of the RSUs with respect to which such Dividend Equivalents are credited, and such Dividend Equivalents shall be subject to the same restrictions and other terms and conditions as apply to the RSUs with respect to which they were credited.
|
(c)
|
No Dividend Equivalents shall be credited to the Employee with respect to record dates occurring prior to the Grant Date or with respect to record dates occurring on or after the date, if any, on which the RSUs are cancelled and terminated.
|
9.
|
Change in Control
.
|
(a)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, if a Change in Control occurs during the Term and the Employee’s employment does not terminate before the effectiveness of the Change in Control, then the RSUs automatically will vest and convert into a contractual right to receive a cash payment (the “
Cash Payment Right
”) in an amount equal to (i) the full number of RSUs (including any additional RSUs determined in accordance with Section 8(a)), multiplied by (ii) the per Share Fair Market Value as of the trading day immediately preceding the effective date of the Change in Control. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right.
|
(b)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, the Cash Payment Right shall be paid as soon as practicable (but in any event within 75 days) after the last day of the Term set forth in Section 2(a), provided that the Employee remains continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Term. Notwithstanding the immediately preceding sentence, in the event that the Employee experiences a termination of employment due to the Employee’s Retirement (as defined below), Disability, or death or an involuntary termination of employment by action of the Company (or its successor) (other than a termination due to Cause) or due to the Employee’s resignation for Good Reason prior to the last day of the Term set forth in Section 2(a), the Cash Payment Right will be paid in accordance with the first sentence of this Section 9(b) as though the Employee remained continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Term.
|
10.
|
Definitions
.
|
(a)
|
“
Involuntary Termination without Cause
” shall mean that the Employee experiences a termination of employment due to the Employee’s (i) receipt of a written notification that his or her position is being eliminated as a result of a structured job elimination program or (ii) resignation for a Pre-Change in Control Good Reason.
|
(b)
|
“
Pre-Change in Control Good Reason
” shall mean that an applicable event occurs and the Employee provides notice to the Company of the existence of the event within 90 days of the initial existence of the event, the Company fails to cure the event within 30 days of such notice and the Employee resigns within 30 days following the last day of such 30-day cure period. The applicable events are any one or more of the following: (i) a material diminution in the Employee’s base compensation and (ii) a material diminution in the Employee’s authority, duties, or responsibilities.
|
(c)
|
“
Retirement
” shall mean the Employee’s employment terminates (with the consent of the Company) after he or she has reached age 55 and the Employee’s age, in whole years, added to the number of whole years of the Employee’s continuous employment with the Company total 65 or more.
|
11.
|
Nontransferability of RSUs
. The RSUs shall not be assignable, alienable, saleable or transferable by the Employee other than by will or the laws of descent and distribution prior to settlement of the Awards pursuant to Section 3 (or, if applicable, Section 9);
provided
,
however
, that the Employee shall be entitled, in the manner provided in Section 13 hereof, to designate a beneficiary to receive any Shares or cash issuable with respect to the Award upon the death of the Employee.
|
12.
|
Tax Withholding
. The Company may deduct and withhold from any cash otherwise payable to the Employee such amount as may be required for the purpose of satisfying the Company’s obligation to withhold federal, state or local taxes. Further, in the event the amount so withheld is insufficient for such purpose, the Company may require that the Employee pay to the Company upon its demand or otherwise make arrangements satisfactory to the Company for payment of, such amount as may be requested by the Company in order to satisfy its obligation to withhold any such taxes.
|
13.
|
Designation of Beneficiary
. The Employee shall be permitted to designate one or more beneficiaries (each, a “
Beneficiary
”) on a Company-approved form who shall be entitled to payouts hereunder, to the extent payouts are made, after the death of the Employee. The terms and conditions of any such designation (including any changes thereto by the Employee) shall be subject to the terms and conditions of such Company-approved beneficiary designation form. If no such beneficiary designation is in effect at the time of the Employee’s death, or if no designated Beneficiary survives the Employee or if such designation conflicts with law, the Employee’s estate acting through his or her legal representative shall be entitled to receive payouts hereunder, to the extent they are made, after the death of the Employee. If the Committee is in doubt as to the right of any person to the RSUs or any payout thereunder, the Company may refuse to settle such matter, without liability for any interest or dividends on the RSUs, until the Committee determines the person entitled to the RSUs or any payout thereunder, or the Company may apply to any court of appropriate jurisdiction and such application shall be a complete discharge of the liability of the Company therefor.
|
14.
|
Transfer Restriction
. Any Shares delivered pursuant to Section 3 hereof shall thereafter be freely transferable by the Employee, provided that the Employee agrees for himself or herself and his or her heirs, legatees and legal representatives, with respect to all Shares acquired pursuant to the terms and conditions of this Agreement (or any Shares issued pursuant to a stock dividend or stock split thereon or any securities issued in lieu thereof or in substitution or exchange therefor), that he or she and his or her heirs, legatees and legal representatives will not sell or otherwise dispose of such shares except pursuant to a registration statement filed by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “
Act
”), or except in a transaction which is determined by counsel to the Company to be exempt from registration under the Act and any applicable state securities laws; and to execute and deliver to the Company such investment representations and warranties, and to take such other actions, as counsel for the Company determines may be necessary or appropriate for compliance with the Act and any other applicable securities laws. The Employee agrees that any certificates representing any of the Shares acquired pursuant to the terms and conditions of this Agreement may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws.
|
15.
|
Status of Employee
. The Employee shall not be deemed for any purposes to be a shareowner of the Company with respect to any of the RSUs except to the extent that the Company has delivered Shares pursuant to Section 3 hereof. Therefore, the Employee will not have the right of shareowners to vote or, subject to Section 8, to receive dividends or distributions of any kind prior to the Company delivering Shares pursuant to Section 3 hereof. Neither the Plan nor the RSUs shall confer upon the Employee any right to continue as an employee of the Company or any of its Affiliates, nor to interfere in any way with the right of the Company to terminate the employment or directorship of the Employee at any time.
|
16.
|
Powers of the Company Not Affected
. The existence of the RSUs shall not affect in any way the right or power of the Company or its shareowners to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred or prior preference stock senior to or affecting the Shares or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business or any other corporate act or proceeding, whether of a similar character or otherwise.
|
17.
|
Interpretation by the Committee
. As a condition of the granting of the RSUs, the Employee agrees, for himself or herself and for his or her legal representatives or guardians, that this Agreement shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Agreement and any determination made by the Committee pursuant to this Agreement shall be final, binding and conclusive.
|
18.
|
Miscellaneous
.
|
(a)
|
This Agreement shall be governed and construed in accordance with the internal laws of the State of Wisconsin applicable to contracts made and to be performed therein between residents thereof. As a condition of the granting of the RSUs, the Employee irrevocably consents to the nonexclusive jurisdiction and venue of the state and federal courts located in the State of Wisconsin.
|
(b)
|
The Plan and this Agreement set forth the entire understanding between the Company and the Employee with respect to the subject matter hereof and shall supersede in all respects, and the Employee hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter, including, but not limited to, any Key Executive Employment and Severance Agreement. For the avoidance of doubt, the Plan and this Agreement shall control in the event there is any express conflict between the Plan and this Agreement and any prior or other agreement or understanding between the parties.
|
(c)
|
This Agreement may not be amended or modified except by the written consent of the parties hereto. Notwithstanding the foregoing, the Committee need not obtain Employee (or other interested party) consent for any such action: (i) to the extent the action is deemed necessary by the Committee to comply with any applicable law; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment for the Company of any Award; (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest of the affected Employee; or (iv) to the extent unilateral action by the Committee is permitted under Section 14(c) of the Plan.
|
(d)
|
The Award and any Shares or cash issued thereunder shall be subject to potential cancellation, rescission, payback, recoupment or other action in accordance with the terms of any Company clawback policy (the “
Clawback Policy
”), as then in effect and as it may be amended from time to time, to the extent the Clawback Policy applies to the Award and any Shares or cash issued thereunder (including a Clawback Policy implemented or amendments made thereto after the Grant Date for the Award). By accepting the Award, the Employee agrees to execute any additional documents as may be requested by the Company to effect the Company’s application, implementation and adoption of a Clawback Policy with respect to the Award and any Shares or cash issued thereunder.
|
(e)
|
The captions of this Agreement are inserted for convenience of reference only and shall not be taken into account in construing this Agreement.
|
1.
|
Award
. Subject to the terms of this Agreement and the Plan, the Employee is hereby granted [Number of Shares] target PRSUs on the Grant Date. PRSUs granted under this Agreement are units that will be reflected in a book account maintained by the Company during the Performance Period set forth below, and that will be settled in Shares to the extent provided in this Agreement and the Plan.
|
2.
|
Performance Period; Performance Goals
.
|
(a)
|
The “
Performance Period
” is the period beginning on _________, 20__ and ending on _________, 20__.
|
(b)
|
Except as otherwise provided in this Agreement (including Section 9 below), the PRSUs will become earned based on achievement of the requisite performance goal or performance goals (the “
Performance Goals
”) determined in accordance with the provisions of
Exhibit 1
, which is attached to and forms a part of this Agreement. Any unearned PRSUs automatically will terminate and be cancelled, without the payment of any consideration following the last day of the Performance Period.
|
3.
|
Settlement of Awards
. Subject to Section 9 below, the Company shall deliver to the Employee one Share for each PRSU earned by the Employee, as determined in accordance with the provisions of
Exhibit 1
, except that cash shall be distributed in lieu of any fractional Share.
|
4.
|
Time of Payment
. Except as otherwise provided in this Agreement (including Section 9 below), payment of PRSUs earned in accordance with the provisions of Section 3 will be delivered as soon as practicable (but in any event within 75 days) following the last day of the Performance Period set forth in Section 2(a), subject to the Committee approving in writing as to the satisfaction of the requisite Performance Goal or Goals.
|
5.
|
Retirement, Disability, or Death During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of the Employee’s Retirement (as defined below), Disability, or death, the Employee shall be entitled to the full value of the Award earned in accordance with
Exhibit 1
, determined at the end of the Performance Period, so long as the termination event occurs after the end of the first year of the Performance Period and only if and to the extent the Performance Goals are met. If the termination event occurs during the first year of the Performance Period, the Employee will be entitled to a prorated value of the Award, earned in accordance with
Exhibit 1
, determined at the end of the Performance Period and only if and to the extent the Performance Goals are met, based on a fraction, the numerator of which is the number of months the Employee was employed during the Performance Period and the denominator of which is 12.
|
6.
|
Involuntary Termination Without Cause During Performance Period and Prior to a Change in Control
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control because of an Involuntary Termination without Cause (as defined below), the Employee shall be entitled to the prorated value of the Award earned, determined at the end of the Performance Period and only if and to the extent the Performance Goals are met, based on a fraction, the numerator of which is the number of months the Employee was employed during the Performance Period and the denominator of which is 36.
|
7.
|
Other Terminations of Employment During Performance Period
. If the Employee’s employment with the Company and its Affiliates terminates during the Performance Period and prior to a Change in Control for any reason other than the Employee’s Retirement, Disability, Involuntary Termination without Cause, or death, the PRSUs granted under this Agreement automatically will terminate and be cancelled on the date of such termination of employment.
|
8.
|
Dividend Equivalents
.
|
(a)
|
After the Performance Period has ended (or, if a Change in Control occurs during the Performance Period, the effective date of the Change in Control), dividend equivalents (“
Dividend Equivalents
”) will be calculated and credited to the account of the Employee with respect to the percentage of PRSUs that are earned (or payable in accordance with Section 9 in the event of a Change in Control). Dividend Equivalents will be credited as additional PRSUs, the number of which will be equal to the number of whole Shares that could be purchased with the amount of the Dividend Equivalents, based on the Fair Market Value of the Shares as of the dividend payment date and the number of earned PRSUs (or target PRSUs in accordance with Section 9 in the event of a Change in Control).
|
(b)
|
Any Dividend Equivalents credited to the Employee’s account pursuant to this Section 8 shall not be vested or paid until the dates of vesting or payment of the PRSUs with respect to which such Dividend Equivalents are credited, and such Dividend Equivalents shall be subject to the same restrictions and other terms and conditions as apply to the PRSUs with respect to which they were credited.
|
(c)
|
No Dividend Equivalents shall be credited to the Employee with respect to record dates occurring prior to the Grant Date or with respect to record dates occurring on or after the date, if any, on which the PRSUs are cancelled and terminated.
|
9.
|
Change in Control
.
|
(a)
|
No Termination of Employment Prior to a Change in Control
.
|
(i)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, if a Change in Control occurs during the Performance Period and the Employee’s employment does not terminate before the effectiveness of the Change in Control, then the Employee shall be entitled to the target PRSUs, which automatically will convert into a contractual right to receive a cash payment (the “
Cash Payment Right
”) in an amount equal to (i) the number of target PRSUs (including any additional PRSUs determined in accordance with Section 8(a)), multiplied by (ii) the per Share Fair Market Value as of the trading day immediately preceding the effective date of the Change in Control. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right. Any portion of the PRSUs that is not converted into the Cash Payment Right automatically shall terminate and be cancelled immediately prior to the effectiveness of the Change in Control, without the payment of any consideration therefor.
|
(ii)
|
Notwithstanding anything to the contrary in the Plan, this Agreement, or the Employee’s employment agreement or any other agreement to which the Employee is a party, the Cash Payment Right shall be paid as soon as practicable (but in any event within 75 days) after the last day of the Performance Period set forth in Section 2(a), provided that the Employee remains continuously employed by the Company or an Affiliate or any successor thereto through the last day of such Performance Period. Notwithstanding the immediately preceding sentence, in the event that the Employee experiences a termination of employment due to the Employee’s Retirement (as defined below), Disability, or death or an involuntary termination of employment by action of the Company (or its successor) (other than a termination due to Cause) or due to the Employee’s resignation for Good Reason prior to the last day of the Performance Period set forth in Section 2(a), the Cash Payment Right will be paid in accordance with the first sentence of this Section 9(a)(ii) as though the Employee remained continuously employed by the Company or an Affiliate or any successor thereto through the last day of the Performance Period.
|
(b)
|
Certain Terminations of Employment Prior to a Change in Control
. Solely for purposes of Sections 5 and 6 of the Agreement, if the Employee’s employment terminates for any of the reasons set forth in such Sections 5 and 6 prior to a Change in Control and a Change in Control occurs during the Performance Period, then the Employee shall be entitled to the target PRSUs in lieu of any amount set forth in Section 5 or Section 6, as applicable, which PRSUs automatically shall convert into a contractual right to receive the Cash Payment Right. After such conversion, no interest or Dividend Equivalents will be accrued, credited or paid with respect to the Cash Payment Right. For the avoidance of doubt, the Cash Payment Right will be paid at such time provided under Section 4.
|
10.
|
Definitions
.
|
(a)
|
“
Involuntary Termination without Cause
” shall mean that the Employee experiences a termination of employment due to the Employee’s (i) receipt of a written notification that his or her position is being eliminated as a result of a structured job elimination program or (ii) resignation for a Pre-Change in Control Good Reason.
|
(b)
|
“
Pre-Change in Control Good Reason
” shall mean that an applicable event occurs and the Employee provides notice to the Company of the existence of the event within 90 days of the initial existence of the event, the Company fails to cure the event within 30 days of such notice and the Employee resigns within 30 days following the last day of such 30-day cure period. The applicable events are any one or more of the following: (i) a material diminution in the Employee’s base compensation and (ii) a material diminution in the Employee’s authority, duties, or responsibilities.
|
(c)
|
“
Retirement
” shall mean the Employee’s employment terminates (with the consent of the Company) after he or she has reached age 55 and the Employee’s age, in whole years, added to the number of whole years of the Employee’s continuous employment with the Company total 65 or more.
|
11.
|
Nontransferability of PRSUs
. The PRSUs shall not be assignable, alienable, saleable or transferable by the Employee other than by will or the laws of descent and distribution prior to settlement of the Awards pursuant to Section 3 (or, if applicable, Section 9);
provided
,
however
, that the Employee shall be entitled, in the manner provided in Section 13 hereof, to designate a beneficiary to receive any Shares or cash issuable with respect to the Award upon the death of the Employee.
|
12.
|
Tax Withholding
. The Company may deduct and withhold from any cash otherwise payable to the Employee such amount as may be required for the purpose of satisfying the Company’s obligation to withhold federal, state or local taxes. Further, in the event the amount so withheld is insufficient for such purpose, the Company may require that the Employee pay to the Company upon its demand or otherwise make arrangements satisfactory to the Company for payment of, such amount as may be requested by the Company in order to satisfy its obligation to withhold any such taxes.
|
13.
|
Designation of Beneficiary
. The Employee shall be permitted to designate one or more beneficiaries (each, a “
Beneficiary
”) on a Company-approved form who shall be entitled to payouts hereunder, to the extent payouts are made, after the death of the Employee. The terms and conditions of any such designation (including any changes thereto by the Employee) shall be subject to the terms and conditions of such Company-approved beneficiary designation form. If no such beneficiary designation is in effect at the time of the Employee’s death, or if no designated Beneficiary survives the Employee or if such designation conflicts with law, the Employee’s estate acting through his or her legal representative shall be entitled to receive payouts hereunder, to the extent they are made, after the death of the Employee. If the Committee is in doubt as to the right of any person to the PRSUs or any payout thereunder, the Company may refuse to settle such matter, without liability for any interest or dividends on the PRSUs, until the Committee determines the person entitled to the PRSUs or any payout thereunder, or the Company may apply to any court of appropriate jurisdiction and such application shall be a complete discharge of the liability of the Company therefor.
|
14.
|
Transfer Restriction
. Any Shares delivered pursuant to Section 3 hereof shall thereafter be freely transferable by the Employee, provided that the Employee agrees for himself or herself and his or her heirs, legatees and legal representatives, with respect to all Shares acquired pursuant to the terms and conditions of this Agreement (or any Shares issued pursuant to a stock dividend or stock split thereon or any securities issued in lieu thereof or in substitution or exchange therefor), that he or she and his or her heirs, legatees and legal representatives will not sell or otherwise dispose of such shares except pursuant to a registration statement filed by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “
Act
”), or except in a transaction which is determined by counsel to the Company to be exempt from registration under the Act and any applicable state securities laws; and to execute and deliver to the Company such investment representations and warranties, and to take such other actions, as counsel for the Company determines may be necessary or appropriate for compliance with the Act and any other applicable securities laws. The Employee agrees that any certificates representing any of the Shares acquired pursuant to the terms and conditions of this Agreement may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws.
|
15.
|
Status of Employee
. The Employee shall not be deemed for any purposes to be a shareowner of the Company with respect to any of the PRSUs except to the extent that the Company has delivered Shares pursuant to Section 3 hereof. Therefore, the Employee will not have the right of shareowners to vote or, subject to Section 8, to receive dividends or distributions of any kind prior to the Company delivering Shares pursuant to Section 3 hereof. Neither the Plan nor the PRSUs shall confer upon the Employee any right to continue as an employee of the Company or any of its Affiliates, nor to interfere in any way with the right of the Company to terminate the employment or directorship of the Employee at any time.
|
16.
|
Powers of the Company Not Affected
. The existence of the PRSUs shall not affect in any way the right or power of the Company or its shareowners to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds, debentures, preferred or prior preference stock senior to or affecting the Shares or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business or any other corporate act or proceeding, whether of a similar character or otherwise.
|
17.
|
Interpretation by the Committee
. As a condition of the granting of the PRSUs, the Employee agrees, for himself or herself and for his or her legal representatives or guardians, that this Agreement shall be interpreted by the Committee and that any interpretation by the Committee of the terms of this Agreement and any determination made by the Committee pursuant to this Agreement shall be final, binding and conclusive.
|
18.
|
Miscellaneous
.
|
(a)
|
This Agreement shall be governed and construed in accordance with the internal laws of the State of Wisconsin applicable to contracts made and to be performed therein between residents thereof. As a condition of the granting of the PRSUs, the Employee irrevocably consents to the nonexclusive jurisdiction and venue of the state and federal courts located in the State of Wisconsin.
|
(b)
|
The Plan and this Agreement set forth the entire understanding between the Company and the Employee with respect to the subject matter hereof and shall supersede in all respects, and the Employee hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter, including, but not limited to, any Key Executive Employment and Severance Agreement. For the avoidance of doubt, the Plan and this Agreement shall control in the event there is any express conflict between the Plan and this Agreement and any prior or other agreement or understanding between the parties.
|
(c)
|
This Agreement may not be amended or modified except by the written consent of the parties hereto. Notwithstanding the foregoing, the Committee need not obtain Employee (or other interested party) consent for any such action: (i) to the extent the action is deemed necessary by the Committee to comply with any applicable law; (ii) to the extent the action is deemed necessary by the Committee to preserve favorable accounting or tax treatment for the Company of any Award; (iii) to the extent the Committee determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest of the affected Employee; or (iv) to the extent unilateral action by the Committee is permitted under Section 14(c) of the Plan.
|
(d)
|
The Award and any Shares or cash issued thereunder shall be subject to potential cancellation, rescission, payback, recoupment or other action in accordance with the terms of any Company clawback policy (the “
Clawback Policy
”), as then in effect and as it may be amended from time to time, to the extent the Clawback Policy applies to the Award and any Shares or cash issued thereunder (including a Clawback Policy implemented or amendments made thereto after the Grant Date for the Award). By accepting the PRSUs, the Employee agrees to execute any additional documents as may be requested by the Company to effect the Company’s application, implementation and adoption of a Clawback Policy with respect to the Award and any Shares or cash issued thereunder.
|
(e)
|
The captions of this Agreement are inserted for convenience of reference only and shall not be taken into account in construing this Agreement.
|
1.
|
Purpose
: The purpose of this Exhibit 1 is to set forth the Performance Goal or Goals that will be applied to determine the amount of the Award that will be earned under the terms of the attached Performance Restricted Stock Unit Agreement (the “
Agreement
”). This Exhibit 1 is incorporated into and forms a part of the Agreement.
|
[Employee]
|
[Year]
|
Grant Date
|
[Date]
|
Grant Date Fair Market Value
|
$[Share Price]
|
PRSUs (Target)
|
[Number of Shares]
|
Performance Period
|
[Dates]
|
2.
|
Performance Goal
: The Award will be based on the Company’s annual Net Income from Continuing Operations (“
Net Income from Continuing Operations
”). To determine whether the Performance Goal is satisfied, Net Income from Continuing Operations will be calculated [excluding the effects of the following, if the amount is over $4,000,000 on a pre-tax basis and is not considered in the annual budget approved by the Board: (i) charges for reorganizing and restructuring; (ii) discontinued operations; (iii) asset write-downs; (iv) gains or losses on the disposition of an asset or business; (v) mergers, acquisitions or dispositions; and (vi) extraordinary, unusual and/or non-recurring items of gain or loss, that in all of the foregoing the Company identifies in its audited financial statements, including notes to the financial statements (
i.e.
, footnotes), or the Management’s Discussion and Analysis section of the Company’s periodic reports.]
|
3.
|
Amount of Award
: Actual awards will be based on Company performance as specified above, and can range from __ to __ percent of target PRSUs granted. Subject to Section 9 of the Agreement, the number of PRSUs earned by the Employee shall be determined in accordance with the following schedule:
|
•
|
$15,000 for the Chairperson of each the Nominating and Governance Committee, the Compensation and Personnel Committee and the Operations Committee of the Board.
|
Name of Subsidiary
|
State of Incorporation
|
|
|
Interstate Power and Light Company
|
Iowa
|
|
|
Wisconsin Power and Light Company
|
Wisconsin
|
1.
|
I have reviewed this annual report on Form 10-K of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Alliant Energy Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Senior Vice President and Chief Financial Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ John O. Larsen
|
John O. Larsen
|
Chief Executive Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Interstate Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Senior Vice President and Chief Financial Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ John O. Larsen
|
John O. Larsen
|
Chief Executive Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Wisconsin Power and Light Company;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Senior Vice President and Chief Financial Officer
|
/s/ Patricia L. Kampling
|
Patricia L. Kampling
|
Chairman and Chief Executive Officer
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Senior Vice President and Chief Financial Officer
|
/s/ John O. Larsen
|
John O. Larsen
|
Chief Executive Officer
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Senior Vice President and Chief Financial Officer
|
/s/ John O. Larsen
|
John O. Larsen
|
Chief Executive Officer
|
/s/ Robert J. Durian
|
Robert J. Durian
|
Senior Vice President and Chief Financial Officer
|