Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2014 | Jan. 30, 2015 | Jun. 30, 2014 |
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | ALLIANT ENERGY CORP | ||
Entity Central Index Key | 352541 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 110,935,680 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $6.70 | ||
IPL [Member] | |||
Entity Registrant Name | INTERSTATE POWER & LIGHT CO | ||
Entity Central Index Key | 52485 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 13,370,788 | ||
WPL [Member] | |||
Entity Registrant Name | WISCONSIN POWER & LIGHT CO | ||
Entity Central Index Key | 107832 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 13,236,601 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Utility: | |||
Electric | $2,713.60 | $2,689 | $2,589.30 |
Gas | 517.5 | 464.8 | 396.3 |
Other | 66.1 | 71.3 | 56.7 |
Non-regulated | 53.1 | 51.7 | 52.2 |
Total operating revenues | 3,350.30 | 3,276.80 | 3,094.50 |
Utility: | |||
Electric production fuel and energy purchases | 852.1 | 725 | 712.3 |
Purchased electric capacity | 25.1 | 216.8 | 271.5 |
Electric transmission service | 447.5 | 418.3 | 341.3 |
Cost of gas sold | 327.8 | 276.7 | 217.2 |
Other operation and maintenance | 658.3 | 620.7 | 590 |
Non-regulated operation and maintenance | 6.7 | 14.9 | 11.9 |
Depreciation and amortization | 388.1 | 370.9 | 332.4 |
Taxes other than income taxes | 101.1 | 99.6 | 98.2 |
Total operating expenses | 2,806.70 | 2,742.90 | 2,574.80 |
Operating income (loss) | 543.6 | 533.9 | 519.7 |
Interest expense and other: | |||
Interest expense | 180.6 | 172.8 | 156.7 |
Equity (income) loss from unconsolidated investments, net | -40.4 | -43.7 | -41.3 |
Allowance for funds used during construction | -34.8 | -30.8 | -21.9 |
Interest income and other | -1.8 | -0.4 | -4 |
Total interest expense and other | 103.6 | 97.9 | 89.5 |
Income from continuing operations before income taxes | 440 | 436 | 430.2 |
Income tax expense (benefit) | 44.3 | 53.9 | 89.4 |
Income from continuing operations, net of tax | 395.7 | 382.1 | 340.8 |
Loss from discontinued operations, net of tax | -2.4 | -5.9 | -5.1 |
Net income | 393.3 | 376.2 | 335.7 |
Preferred dividend requirements of subsidiaries | 10.2 | 17.9 | 15.9 |
Net income (loss) attributable to common shareowners | 383.1 | 358.3 | 319.8 |
Weighted average number of common shares outstanding (basic and diluted) (in shares) | 110.8 | 110.8 | 110.8 |
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted): | |||
Income from continuing operations, net of tax (in dollars per share) | $3.48 | $3.29 | $2.93 |
Loss from discontinued operations, net of tax (in dollars per share) | ($0.02) | ($0.06) | ($0.04) |
Net income (in dollars per share) | $3.46 | $3.23 | $2.89 |
Amounts attributable to common shareowners: | |||
Income from continuing operations, net of tax | 385.5 | 364.2 | 324.9 |
Loss from discontinued operations, net of tax | -2.4 | -5.9 | -5.1 |
Net income (loss) attributable to common shareowners | 383.1 | 358.3 | 319.8 |
IPL [Member] | |||
Utility: | |||
Electric | 1,493.30 | 1,491.80 | 1,371.10 |
Gas | 296.5 | 273.9 | 226.7 |
Other | 58.3 | 53.1 | 52.5 |
Total operating revenues | 1,848.10 | 1,818.80 | 1,650.30 |
Utility: | |||
Electric production fuel and energy purchases | 472.3 | 382.1 | 344.5 |
Purchased electric capacity | 25 | 155.2 | 153.7 |
Electric transmission service | 323.4 | 301.4 | 235 |
Cost of gas sold | 185.5 | 160.3 | 124.9 |
Other operation and maintenance | 381.1 | 362.3 | 350 |
Depreciation and amortization | 197.5 | 191.1 | 188.9 |
Taxes other than income taxes | 54.1 | 54.4 | 53 |
Total operating expenses | 1,638.90 | 1,606.80 | 1,450 |
Operating income (loss) | 209.2 | 212 | 200.3 |
Interest expense and other: | |||
Interest expense | 89.9 | 81.3 | 78.5 |
Allowance for funds used during construction | -25.9 | -21 | -8.4 |
Interest income and other | 2.3 | -0.3 | -0.2 |
Total interest expense and other | 66.3 | 60 | 69.9 |
Income from continuing operations before income taxes | 142.9 | 152 | 130.4 |
Income tax expense (benefit) | -51.7 | -37.9 | -19.8 |
Net income | 194.6 | 189.9 | 150.2 |
Preferred dividend requirements of subsidiaries | 10.2 | 16.3 | 12.6 |
Net income (loss) attributable to common shareowners | 184.4 | 173.6 | 137.6 |
Amounts attributable to common shareowners: | |||
Net income (loss) attributable to common shareowners | 184.4 | 173.6 | 137.6 |
WPL [Member] | |||
Utility: | |||
Electric | 1,220.30 | 1,197.20 | 1,218.20 |
Gas | 221 | 190.9 | 169.6 |
Other | 7.8 | 18.2 | 4.2 |
Total operating revenues | 1,449.10 | 1,406.30 | 1,392 |
Utility: | |||
Electric production fuel and energy purchases | 379.8 | 342.9 | 367.8 |
Purchased electric capacity | 0.1 | 61.6 | 117.8 |
Electric transmission service | 124.1 | 116.9 | 106.3 |
Cost of gas sold | 142.3 | 116.4 | 92.3 |
Other operation and maintenance | 277.2 | 258.4 | 240 |
Depreciation and amortization | 181.2 | 172.2 | 140.9 |
Taxes other than income taxes | 43.4 | 41.8 | 42.1 |
Total operating expenses | 1,148.10 | 1,110.20 | 1,107.20 |
Operating income (loss) | 301 | 296.1 | 284.8 |
Interest expense and other: | |||
Interest expense | 86.4 | 85 | 80.2 |
Equity (income) loss from unconsolidated investments, net | -42.8 | -43.7 | -42.1 |
Allowance for funds used during construction | -8.9 | -9.8 | -13.5 |
Interest income and other | -0.1 | -0.1 | -0.1 |
Total interest expense and other | 34.6 | 31.4 | 24.5 |
Income from continuing operations before income taxes | 266.4 | 264.7 | 260.3 |
Income tax expense (benefit) | 85.6 | 87.2 | 94.6 |
Net income | 180.8 | 177.5 | 165.7 |
Net income attributable to noncontrolling interest | 0.7 | 0 | 0 |
Preferred dividend requirements of subsidiaries | 0 | 1.6 | 3.3 |
Net income (loss) attributable to common shareowners | 180.1 | 175.9 | 162.4 |
Amounts attributable to common shareowners: | |||
Net income (loss) attributable to common shareowners | $180.10 | $175.90 | $162.40 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $56.90 | $9.80 |
Accounts receivable, less allowance for doubtful accounts | 427.3 | 473.3 |
Production fuel, at weighted average cost | 83.8 | 103.6 |
Materials and supplies, at weighted average cost | 72.9 | 69.6 |
Gas stored underground, at weighted average cost | 67.1 | 38.6 |
Regulatory assets | 68.1 | 53.9 |
Deferred income tax assets | 150.1 | 136.7 |
Other | 116.9 | 125.7 |
Total current assets | 1,043.10 | 1,011.20 |
Property, plant and equipment, net | 8,938.40 | 8,326.50 |
Investments: | ||
Investment in American Transmission Company LLC | 286.5 | 272.1 |
Other | 58.4 | 57.5 |
Total investments | 344.9 | 329.6 |
Other assets: | ||
Regulatory assets | 1,715.60 | 1,359.30 |
Deferred charges and other | 43.9 | 85.8 |
Total other assets | 1,759.50 | 1,445.10 |
Total assets | 12,085.90 | 11,112.40 |
Current liabilities: | ||
Current maturities of long-term debt | 183 | 358.5 |
Commercial paper | 141.3 | 279.4 |
Accounts payable | 427.9 | 365 |
Regulatory liabilities | 200.1 | 196.6 |
Other | 262.4 | 233.8 |
Total current liabilities | 1,214.70 | 1,433.30 |
Long-term debt, net (excluding current portion) | 3,606.70 | 2,977.80 |
Other liabilities: | ||
Deferred income tax liabilities | 2,321.10 | 2,112.70 |
Regulatory liabilities | 621.1 | 624.9 |
Pension and other benefit obligations | 421.7 | 206.6 |
Other | 260.1 | 273.9 |
Total other liabilities | 3,624 | 3,218.10 |
Commitments and contingencies (Note 16) | ||
Equity: | ||
Common stock | 1.1 | 1.1 |
Additional paid-in capital | 1,509.10 | 1,507.80 |
Retained earnings | 1,938 | 1,780.70 |
Accumulated other comprehensive loss | -0.6 | -0.2 |
Shares in deferred compensation trust - 238,935 and 227,469 shares at a weighted average cost of $37.45 and $35.25 per share | -8.9 | -8 |
Total common equity | 3,438.70 | 3,281.40 |
Cumulative preferred stock of Interstate Power and Light Company | 200 | 200 |
Noncontrolling interest | 1.8 | 1.8 |
Total equity | 3,640.50 | 3,483.20 |
Total liabilities and equity | 12,085.90 | 11,112.40 |
IPL [Member] | ||
Current assets: | ||
Cash and cash equivalents | 5.3 | 4.4 |
Accounts receivable, less allowance for doubtful accounts | 216.7 | 246.9 |
Production fuel, at weighted average cost | 52.7 | 75.6 |
Materials and supplies, at weighted average cost | 42 | 39.4 |
Gas stored underground, at weighted average cost | 30.8 | 18.9 |
Regulatory assets | 38.7 | 28.5 |
Deferred income tax assets | 104.9 | 87.7 |
Other | 65 | 34.5 |
Total current assets | 556.1 | 535.9 |
Property, plant and equipment, net | 4,554.70 | 4,136.80 |
Investments: | ||
Total investments | 19.1 | 18.6 |
Other assets: | ||
Regulatory assets | 1,319.20 | 1,085 |
Deferred charges and other | 12.7 | 29.7 |
Total other assets | 1,331.90 | 1,114.70 |
Total assets | 6,461.80 | 5,806 |
Current liabilities: | ||
Current maturities of long-term debt | 150 | 38.4 |
Commercial paper | 0 | 0 |
Accounts payable | 259.6 | 187.1 |
Accounts payable to associated companies | 31.3 | 29.1 |
Regulatory liabilities | 129.7 | 143.8 |
Accrued taxes | 45.3 | 51.1 |
Other | 90 | 74.8 |
Total current liabilities | 705.9 | 524.3 |
Long-term debt, net (excluding current portion) | 1,618.70 | 1,520 |
Other liabilities: | ||
Deferred income tax liabilities | 1,341.40 | 1,193 |
Regulatory liabilities | 453.8 | 471.1 |
Pension and other benefit obligations | 142.4 | 48.6 |
Other | 185.5 | 169.3 |
Total other liabilities | 2,123.10 | 1,882 |
Commitments and contingencies (Note 16) | ||
Equity: | ||
Common stock | 33.4 | 33.4 |
Additional paid-in capital | 1,242.80 | 1,152.80 |
Retained earnings | 537.9 | 493.5 |
Total common equity | 1,814.10 | 1,679.70 |
Cumulative preferred stock of Interstate Power and Light Company | 200 | 200 |
Total equity | 2,014.10 | 1,879.70 |
Total liabilities and equity | 6,461.80 | 5,806 |
WPL [Member] | ||
Current assets: | ||
Cash and cash equivalents | 46.7 | 0.5 |
Accounts receivable, less allowance for doubtful accounts | 185.8 | 198.4 |
Production fuel, at weighted average cost | 31.1 | 28 |
Materials and supplies, at weighted average cost | 29.2 | 28.9 |
Gas stored underground, at weighted average cost | 36.3 | 19.7 |
Regulatory assets | 29.4 | 25.4 |
Prepaid gross receipts tax | 38 | 40.8 |
Deferred income tax assets | 37.5 | 43.3 |
Other | 23.2 | 17.6 |
Total current assets | 457.2 | 402.6 |
Property, plant and equipment, net | 3,938.90 | 3,781.60 |
Investments: | ||
Investment in American Transmission Company LLC | 286.5 | 272.1 |
Other | 19.5 | 19.5 |
Total investments | 306 | 291.6 |
Other assets: | ||
Regulatory assets | 396.4 | 274.3 |
Deferred charges and other | 29.7 | 54.3 |
Total other assets | 426.1 | 328.6 |
Total assets | 5,128.20 | 4,804.40 |
Current liabilities: | ||
Current maturities of long-term debt | 30.6 | 8.5 |
Commercial paper | 0 | 183.7 |
Accounts payable | 112.9 | 120 |
Accounts payable to associated companies | 25.5 | 26 |
Regulatory liabilities | 70.4 | 52.8 |
Accrued interest | 24.3 | 22.2 |
Other | 46.6 | 38.3 |
Total current liabilities | 310.3 | 451.5 |
Long-term debt, net (excluding current portion) | 1,543.30 | 1,323.60 |
Other liabilities: | ||
Deferred income tax liabilities | 970 | 897.1 |
Regulatory liabilities | 167.3 | 153.8 |
Capital lease obligations - Sheboygan Falls Energy Facility | 89.4 | 94.5 |
Pension and other benefit obligations | 180.4 | 88.4 |
Other | 155.2 | 153.1 |
Total other liabilities | 1,562.30 | 1,386.90 |
Commitments and contingencies (Note 16) | ||
Equity: | ||
Common stock | 66.2 | 66.2 |
Additional paid-in capital | 959 | 959 |
Retained earnings | 678.6 | 617.2 |
Total common equity | 1,703.80 | 1,642.40 |
Noncontrolling interest | 8.5 | 0 |
Total equity | 1,712.30 | 1,642.40 |
Total liabilities and equity | $5,128.20 | $4,804.40 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized (in shares) | 240,000,000 | 240,000,000 |
Common stock, shares outstanding (in shares) | 110,935,680 | 110,943,669 |
Shares in deferred compensation trust (in shares) | 238,935 | 227,469 |
Shares in deferred compensation trust, weighted average cost per share (in dollars per share) | $37.45 | $35.25 |
IPL [Member] | ||
Common stock, par value (in dollars per share) | $2.50 | $2.50 |
Common stock, shares authorized (in shares) | 24,000,000 | 24,000,000 |
Common stock, shares outstanding (in shares) | 13,370,788 | 13,370,788 |
WPL [Member] | ||
Common stock, par value (in dollars per share) | $5 | $5 |
Common stock, shares authorized (in shares) | 18,000,000 | 18,000,000 |
Common stock, shares outstanding (in shares) | 13,236,601 | 13,236,601 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income | $393.30 | $376.20 | $335.70 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 388.1 | 370.9 | 332.9 |
Other amortizations | 54.2 | 40.2 | 55 |
Deferred tax expense (benefit) and investment tax credits | 55.2 | 108.3 | 143.3 |
Equity (income) loss from unconsolidated investments, net | -40.4 | -43.7 | -41.3 |
Distributions from equity method investments | 36.4 | 35.4 | 34.2 |
Equity component of allowance for funds used during construction | -23.1 | -20.3 | -14.1 |
Other | 2 | -3.7 | 0.7 |
Other changes in assets and liabilities: | |||
Accounts receivable | 48.7 | -49.2 | 61.3 |
Sales of accounts receivable | -7 | -101 | -10 |
Regulatory assets | -439.8 | 140.5 | -178.1 |
Regulatory liabilities | 10.8 | -90.8 | 16.4 |
Deferred income taxes | 138.4 | 101.9 | 69.7 |
Pension and other benefit obligations | 215.1 | -157.4 | 51.3 |
Other | 59.7 | 23.7 | -15.9 |
Net cash flows from operating activities | 891.6 | 731 | 841.1 |
Cash flows used for investing activities: | |||
Utility business - purchase of Riverside Energy Center | 0 | 0 | -403.5 |
Utility business - other | -838.9 | -731.6 | -622 |
Alliant Energy Corporate Services, Inc. and non-regulated businesses | -63.9 | -66.7 | -132.6 |
Proceeds from Franklin County wind project cash grant | 0 | 62.4 | 0 |
Other | -14.9 | -18.8 | 2.6 |
Net cash flows used for investing activities | -917.7 | -754.7 | -1,155.50 |
Cash flows from (used for) financing activities: | |||
Common stock dividends | -225.8 | -208.3 | -199.3 |
Preferred dividends paid by subsidiaries | -10.2 | -11.4 | -15.9 |
Payments to redeem cumulative preferred stock | 0 | -211 | 0 |
Proceeds from issuance of cumulative preferred stock of IPL | 0 | 200 | 0 |
Proceeds from issuance of long-term debt | 812.9 | 250 | 385 |
Payments to retire long-term debt | -358.5 | -1.5 | -1.4 |
Net change in commercial paper | -138.1 | 11.9 | 164.7 |
Other | -7.1 | -17.4 | -8.9 |
Net cash flows from (used for) financing activities | 73.2 | 12.3 | 324.2 |
Net increase (decrease) in cash and cash equivalents | 47.1 | -11.4 | 9.8 |
Cash and cash equivalents at beginning of period | 9.8 | 21.2 | 11.4 |
Cash and cash equivalents at end of period | 56.9 | 9.8 | 21.2 |
Supplemental cash flows information: | |||
Interest, net of capitalized interest | -180.8 | -171.7 | -155.2 |
Income taxes, net | 5.3 | 9.6 | 20.3 |
Significant non-cash investing and financing activities: | |||
Accrued capital expenditures | 160.3 | 103.8 | 105.3 |
IPL [Member] | |||
Cash flows from operating activities: | |||
Net income | 194.6 | 189.9 | 150.2 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 197.5 | 191.1 | 188.9 |
Deferred tax expense (benefit) and investment tax credits | -9.7 | 4.2 | 19.3 |
Equity component of allowance for funds used during construction | -17.1 | -13.8 | -5.2 |
Other | 11.3 | -0.7 | 10.6 |
Other changes in assets and liabilities: | |||
Accounts receivable | 43.3 | -55.9 | -0.7 |
Sales of accounts receivable | -7 | -101 | -10 |
Regulatory assets | -272.9 | 71.4 | -129 |
Regulatory liabilities | -18.9 | -82.3 | -12.1 |
Deferred income taxes | 140.4 | 92.4 | 64.6 |
Pension and other benefit obligations | 93.8 | -74.3 | 21 |
Other | 50.8 | 11.6 | -6.6 |
Net cash flows from operating activities | 406.1 | 232.6 | 291 |
Cash flows used for investing activities: | |||
Utility business - other | -526 | -400.2 | -307.5 |
Other | -26.7 | -23.1 | -23.7 |
Net cash flows used for investing activities | -552.7 | -423.3 | -331.2 |
Cash flows from (used for) financing activities: | |||
Common stock dividends | -140 | -128.1 | -122.9 |
Preferred dividends paid by subsidiaries | -10.2 | -10.8 | -12.6 |
Capital contributions from parent | 90 | 120 | 110 |
Payments to redeem cumulative preferred stock | 0 | -150 | 0 |
Proceeds from issuance of cumulative preferred stock of IPL | 0 | 200 | 0 |
Proceeds from issuance of long-term debt | 250 | 250 | 0 |
Payments to retire long-term debt | -38.4 | 0 | 0 |
Net change in commercial paper | 0 | -76.3 | 69.2 |
Other | -3.9 | -14.2 | -1.1 |
Net cash flows from (used for) financing activities | 147.5 | 190.6 | 42.6 |
Net increase (decrease) in cash and cash equivalents | 0.9 | -0.1 | 2.4 |
Cash and cash equivalents at beginning of period | 4.4 | 4.5 | 2.1 |
Cash and cash equivalents at end of period | 5.3 | 4.4 | 4.5 |
Supplemental cash flows information: | |||
Interest, net of capitalized interest | -89.8 | -80.7 | -78.3 |
Income taxes, net | 20.1 | 0.1 | -3.3 |
Significant non-cash investing and financing activities: | |||
Accrued capital expenditures | 113.2 | 58.1 | 53.4 |
WPL [Member] | |||
Cash flows from operating activities: | |||
Net income | 180.8 | 177.5 | 165.7 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 181.2 | 172.2 | 140.9 |
Other amortizations | 47.3 | 29.5 | 43.7 |
Deferred tax expense (benefit) and investment tax credits | 80.7 | 86.5 | 88.6 |
Equity (income) loss from unconsolidated investments, net | -42.8 | -43.7 | -42.1 |
Distributions from equity method investments | 36.4 | 35.4 | 34.2 |
Equity component of allowance for funds used during construction | -6 | -6.5 | -8.9 |
Other | -1.2 | -0.2 | -2.9 |
Other changes in assets and liabilities: | |||
Regulatory assets | -166.9 | 69.1 | -49.1 |
Regulatory liabilities | 29.7 | -8.5 | 28.5 |
Accrued taxes | 0.1 | -26.9 | 19.2 |
Pension and other benefit obligations | 92 | -71.3 | 31.7 |
Other | -6.9 | 10.2 | -22.1 |
Net cash flows from operating activities | 424.4 | 423.3 | 427.4 |
Cash flows used for investing activities: | |||
Utility business - purchase of Riverside Energy Center | 0 | 0 | -403.5 |
Utility business - other | -312.9 | -331.4 | -314.5 |
Other | -7.2 | -4.5 | 7.8 |
Net cash flows used for investing activities | -320.1 | -335.9 | -710.2 |
Cash flows from (used for) financing activities: | |||
Common stock dividends | -118.7 | -116.3 | -112 |
Preferred dividends paid by subsidiaries | 0 | -0.6 | -3.3 |
Capital contributions from parent | 0 | 0 | 90 |
Payments to redeem cumulative preferred stock | 0 | -61 | 0 |
Proceeds from issuance of long-term debt | 250 | 0 | 250 |
Net change in commercial paper | -183.7 | 97.1 | 60.9 |
Other | -5.7 | -6.8 | -4.8 |
Net cash flows from (used for) financing activities | -58.1 | -87.6 | 280.8 |
Net increase (decrease) in cash and cash equivalents | 46.2 | -0.2 | -2 |
Cash and cash equivalents at beginning of period | 0.5 | 0.7 | 2.7 |
Cash and cash equivalents at end of period | 46.7 | 0.5 | 0.7 |
Supplemental cash flows information: | |||
Interest, net of capitalized interest | -84.6 | -85 | -79.5 |
Income taxes, net | -12.2 | -22.9 | 3.3 |
Significant non-cash investing and financing activities: | |||
Accrued capital expenditures | $38.40 | $37.70 | $39.50 |
Consolidated_Statements_of_Com
Consolidated Statements of Common Equity (USD $) | Total | IPL [Member] | WPL [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Deferred Compensation, Share-based Payments [Member] | Noncontrolling Interest [Member] |
In Millions, unless otherwise specified | IPL [Member] | WPL [Member] | IPL [Member] | WPL [Member] | IPL [Member] | WPL [Member] | WPL [Member] | ||||||||
Beginning balance at Dec. 31, 2011 | $1,442.40 | ||||||||||||||
Beginning balance at Dec. 31, 2011 | 3,013 | 1,394.40 | 1.1 | 33.4 | 66.2 | 1,510.80 | 927.7 | 869 | 1,510.20 | 433.3 | 507.2 | -0.8 | -8.3 | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income (loss) attributable to common shareowners | 319.8 | 137.6 | 162.4 | 319.8 | 137.6 | 162.4 | |||||||||
Net income | 335.7 | 150.2 | 165.7 | ||||||||||||
Common stock dividends | -199.3 | -122.9 | -112 | -199.3 | -122.9 | -112 | |||||||||
Capital contributions from parent | 110 | 90 | 110 | 90 | |||||||||||
Other | 1.4 | 0.1 | 0.2 | 0.4 | 0.1 | 0.2 | 1 | ||||||||
Other comprehensive income, net of tax | 0 | 0 | 0 | ||||||||||||
Ending balance at Dec. 31, 2012 | 1,583 | ||||||||||||||
Ending balance at Dec. 31, 2012 | 3,134.90 | 1,519.20 | 1.1 | 33.4 | 66.2 | 1,511.20 | 1,037.80 | 959.2 | 1,630.70 | 448 | 557.6 | -7.3 | 0 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income (loss) attributable to common shareowners | 69.9 | 22.9 | 42 | ||||||||||||
Net income | 31.5 | 43.6 | |||||||||||||
Ending balance at Mar. 31, 2013 | |||||||||||||||
Beginning balance at Dec. 31, 2012 | 1,583 | ||||||||||||||
Beginning balance at Dec. 31, 2012 | 3,134.90 | 1,519.20 | 1.1 | 33.4 | 66.2 | 1,511.20 | 1,037.80 | 959.2 | 1,630.70 | 448 | 557.6 | -0.8 | -7.3 | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income (loss) attributable to common shareowners | 358.3 | 173.6 | 175.9 | 358.3 | 173.6 | 175.9 | |||||||||
Net income | 376.2 | 189.9 | 177.5 | ||||||||||||
Common stock dividends | -208.3 | -128.1 | -116.3 | -208.3 | -128.1 | -116.3 | |||||||||
Capital contributions from parent | 120 | 0 | 120 | ||||||||||||
Preferred stock issuance costs | -5.4 | -5.4 | -5.4 | -5.4 | |||||||||||
Other | 1.3 | 0.4 | -0.2 | 2 | 0.4 | -0.2 | -0.7 | ||||||||
Other comprehensive income, net of tax | 0.6 | 0 | 0 | 0.6 | |||||||||||
Ending balance at Dec. 31, 2013 | 3,483.20 | 1,879.70 | 1,642.40 | ||||||||||||
Ending balance at Dec. 31, 2013 | 3,281.40 | 1,679.70 | 1,642.40 | 1.1 | 33.4 | 66.2 | 1,507.80 | 1,152.80 | 959 | 1,780.70 | 493.5 | 617.2 | -0.2 | -8 | |
Beginning balance at Sep. 30, 2013 | |||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income (loss) attributable to common shareowners | 65.5 | 18.5 | 38.2 | ||||||||||||
Net income | 21.1 | 38.2 | |||||||||||||
Ending balance at Dec. 31, 2013 | 3,483.20 | 1,879.70 | 1,642.40 | ||||||||||||
Ending balance at Dec. 31, 2013 | 3,281.40 | 1,679.70 | 1,642.40 | 1.1 | 33.4 | 66.2 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income (loss) attributable to common shareowners | 108 | 43.4 | 54.8 | ||||||||||||
Net income | 46 | 54.8 | |||||||||||||
Ending balance at Mar. 31, 2014 | |||||||||||||||
Beginning balance at Dec. 31, 2013 | 3,483.20 | 1,879.70 | 1,642.40 | ||||||||||||
Beginning balance at Dec. 31, 2013 | 3,281.40 | 1,679.70 | 1,642.40 | 1.1 | 33.4 | 66.2 | 1,507.80 | 1,152.80 | 1,780.70 | 493.5 | 617.2 | -0.2 | -8 | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income (loss) attributable to common shareowners | 383.1 | 184.4 | 180.1 | 383.1 | 184.4 | 180.1 | 0.7 | ||||||||
Net income | 393.3 | 194.6 | 180.8 | ||||||||||||
Common stock dividends | -225.8 | -140 | -118.7 | -225.8 | -140 | -118.7 | |||||||||
Capital contributions from parent | 90 | 0 | 90 | ||||||||||||
Other | 0.4 | 1.3 | -0.9 | ||||||||||||
Other comprehensive income, net of tax | -0.4 | 0 | 0 | -0.4 | |||||||||||
Contributions from noncontrolling interest | 8.6 | 8.6 | |||||||||||||
Distributions to noncontrolling interest | -0.8 | -0.8 | |||||||||||||
Ending balance at Dec. 31, 2014 | 3,640.50 | 2,014.10 | 1,712.30 | ||||||||||||
Ending balance at Dec. 31, 2014 | 3,438.70 | 1,814.10 | 1,703.80 | 1.1 | 33.4 | 66.2 | 1,509.10 | 1,242.80 | 959 | 1,938 | 537.9 | 678.6 | -0.6 | -8.9 | 8.5 |
Beginning balance at Sep. 30, 2014 | |||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Net income (loss) attributable to common shareowners | 60 | 20.1 | 29.1 | ||||||||||||
Net income | 22.6 | 29.8 | |||||||||||||
Ending balance at Dec. 31, 2014 | 3,640.50 | 2,014.10 | 1,712.30 | ||||||||||||
Ending balance at Dec. 31, 2014 | $3,438.70 | $1,814.10 | $1,703.80 | $1.10 | $33.40 | $66.20 | $959 |
Consolidated_Statements_of_Com1
Consolidated Statements of Common Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Statement of Stockholders' Equity [Abstract] | |||
Common stock dividends (in dollars per share) | $2.04 | $1.88 | $1.80 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||||
(a) General - | ||||||||||||
Description of Business - Alliant Energy’s financial statements include the accounts of Alliant Energy and its consolidated subsidiaries. Alliant Energy is an investor-owned public utility holding company, whose primary wholly-owned subsidiaries are IPL, WPL, Resources and Corporate Services. | ||||||||||||
IPL’s financial statements include the accounts of IPL and its consolidated subsidiary, IPL SPE LLC, which is used for IPL’s sales of accounts receivable program. IPL is a direct subsidiary of Alliant Energy and is engaged principally in the generation and distribution of electricity and the distribution and transportation of natural gas. IPL is also engaged in the generation and distribution of steam for two customers in Cedar Rapids, Iowa. IPL’s service territories are located in Iowa and southern Minnesota. Refer to Note 3 for discussion of IPL’s anticipated sales of its Minnesota electric and natural gas distribution assets. | ||||||||||||
WPL’s financial statements include the accounts of WPL and its consolidated subsidiary, WPL Transco, which holds Alliant Energy’s investment in ATC. WPL is a direct subsidiary of Alliant Energy and is engaged principally in the generation and distribution of electricity and the distribution and transportation of natural gas. WPL’s service territories are located in southern and central Wisconsin. | ||||||||||||
Resources is comprised of Transportation, Non-regulated Generation, ATI and other non-regulated investments. Transportation includes a short-line railway that provides freight service between Cedar Rapids, Iowa and Iowa City, Iowa; barge terminal and hauling services on the Mississippi River; and other transfer and storage services. Non-regulated Generation owns Sheboygan Falls, a 347 MW, simple-cycle, natural gas-fired EGU near Sheboygan Falls, Wisconsin, which is leased to WPL for an initial period of 20 years ending in 2025. In addition, Non-regulated Generation owns the non-regulated 99 MW Franklin County wind project located in Franklin County, Iowa. Refer to Note 6(a) for discussion of ATI, a wholly-owned subsidiary of Resources, which holds a partial interest in WPL Transco. Refer to Note 19 for discussion of Alliant Energy’s RMT business, which was sold in 2013. | ||||||||||||
Corporate Services is the subsidiary formed to provide administrative services to Alliant Energy and its subsidiaries. | ||||||||||||
Basis of Presentation - The financial statements reflect investments in controlled subsidiaries on a consolidated basis and Alliant Energy’s, IPL’s and WPL’s proportionate shares of jointly-owned utility EGUs. Unconsolidated investments, which Alliant Energy and WPL do not control, but do have the ability to exercise significant influence over operating and financial policies, are accounted for under the equity method of accounting. Investments that do not meet the criteria for consolidation or the equity method of accounting are accounted for under the cost method. Refer to Notes 1(n) and 6(a) for further discussion of VIEs and equity method investments, respectively. | ||||||||||||
All intercompany balances and transactions, other than certain transactions affecting the rate-making process at IPL and WPL, have been eliminated from the financial statements. Such transactions not eliminated include costs that are recoverable from customers through rate-making processes. The financial statements are prepared in conformity with GAAP, which give recognition to the rate-making and accounting practices of FERC and state commissions having regulatory jurisdiction. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. The balance sheets presentation changed from a utility format to a traditional format. This change revised the order of certain balance sheet line items and did not result in any changes in classification of amounts between line items. Unless otherwise noted, the notes herein exclude discontinued operations for all periods presented, and assets and liabilities held for sale as of December 31, 2014. | ||||||||||||
Use of Estimates - The preparation of the financial statements requires management to make estimates and assumptions that affect: (a) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (b) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||
(b) Regulatory Assets and Regulatory Liabilities - Alliant Energy, IPL and WPL are subject to regulation by FERC and various state regulatory commissions. As a result, Alliant Energy, IPL and WPL are subject to GAAP provisions for regulated operations, which provide that rate-regulated public utilities record certain costs and credits allowed in the rate-making process in different periods than for non-regulated entities. Regulatory assets generally represent incurred costs that have been deferred as such costs are probable of recovery in future customer rates. Regulatory liabilities generally represent obligations to make refunds to customers or amounts collected in rates for which the related costs have not yet been incurred. Amounts deferred as regulatory assets or accrued as regulatory liabilities are generally recognized in the income statements at the time they are reflected in rates. Refer to Note 2 for additional discussion of regulatory assets and regulatory liabilities. | ||||||||||||
(c) Income Taxes - The liability method of accounting is followed for deferred income taxes, which requires the establishment of deferred income tax assets and liabilities, as appropriate, for temporary differences between the tax basis of assets and liabilities and the amounts reported in the financial statements. Deferred income taxes are recorded using currently enacted tax rates and estimates of state apportionment rates. Changes in deferred income tax assets and liabilities associated with certain property-related differences at IPL are accounted for differently than other subsidiaries of Alliant Energy due to rate-making practices in Iowa. Rate-making practices in Iowa do not include the impact of certain deferred tax expenses (benefits) in the determination of retail rates. Based on these rate-making practices, deferred tax expense (benefit) related to these property-related differences at IPL is not recorded in the income statement but instead recorded to regulatory assets or regulatory liabilities until these temporary differences reverse. Refer to Note 2 for further discussion of regulatory assets and regulatory liabilities associated with property-related differences at IPL. In Wisconsin, the PSCW has allowed rate recovery of deferred tax expense on all temporary differences since 1991. | ||||||||||||
Investment tax credits are deferred and amortized to income over the average lives of the related property. Other tax credits reduce income tax expense in the year claimed. | ||||||||||||
The alternative transition method has been elected to calculate the beginning pool of excess tax benefits available to absorb any tax deficiencies associated with recognition of share-based payment awards. | ||||||||||||
Alliant Energy files a consolidated federal income tax return, which includes the aggregate taxable income or loss of Alliant Energy and its subsidiaries. In addition, a combined return including Alliant Energy and all of its subsidiaries is filed in Wisconsin. Alliant Energy subsidiaries with a presence in Iowa file as part of a consolidated return in Iowa. Under the terms of a tax sharing agreement between Alliant Energy and its subsidiaries, IPL and WPL calculate state income tax using consolidated apportionment rates applied to separate company taxable income. | ||||||||||||
(d) Cash and Cash Equivalents - Cash and cash equivalents include short-term liquid investments that have original maturities of less than 90 days. | ||||||||||||
(e) Property, Plant and Equipment - | ||||||||||||
Utility Plant - | ||||||||||||
General - Utility plant is recorded at the original cost of acquisition or construction, which includes material, labor, contractor services, AFUDC and allocable overheads, such as supervision, engineering, benefits, certain taxes and transportation. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Ordinary retirements of utility plant and salvage value are netted and charged to accumulated depreciation upon removal from utility plant accounts and no gain or loss is recognized consistent with rate-making policies. Removal costs incurred reduce the regulatory liability. Property, plant and equipment that is probable of being retired early is classified as plant anticipated to be retired early. | ||||||||||||
Depreciation - IPL and WPL use a combination of remaining life and straight-line depreciation methods as approved by their respective regulatory commissions. The composite or group method of depreciation is used, in which a single depreciation rate is applied to the gross investment in a particular class of property. This method pools similar assets and then depreciates each group as a whole. Periodic depreciation studies are performed to determine the appropriate group lives, net salvage, estimated cost of removal and group depreciation rates. These depreciation studies are subject to review and approval by IPL’s and WPL’s respective regulatory commissions. Depreciation expense is included within the recoverable cost of service component of rates charged to customers. The average rates of depreciation for electric, gas and other properties, consistent with current rate-making practices, were as follows: | ||||||||||||
IPL | WPL | |||||||||||
2014 | 2013 | 2012 | 2014 | 2013 (a) | 2012 | |||||||
Electric - generation | 3.60% | 3.60% | 3.70% | 3.20% | 3.30% | 3.20% | ||||||
Electric - distribution | 2.50% | 2.50% | 2.50% | 2.70% | 2.70% | 2.90% | ||||||
Gas | 3.30% | 3.40% | 3.40% | 2.50% | 2.50% | 2.60% | ||||||
Other | 4.20% | 4.40% | 4.50% | 6.00% | 5.10% | 5.30% | ||||||
(a) | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPL’s requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. | |||||||||||
AFUDC - AFUDC represents costs to finance construction additions including a return on equity component and cost of debt component as required by regulatory accounting. AFUDC for IPL’s construction projects is calculated in accordance with FERC guidelines. AFUDC for WPL’s retail and wholesale jurisdiction construction projects is calculated in accordance with PSCW and FERC guidelines, respectively. The AFUDC recovery rates, computed in accordance with the prescribed regulatory formula, were as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
IPL (FERC formula - Marshalltown CWIP) (a) | 8.00% | —% | —% | |||||||||
IPL (FERC formula - other CWIP) | 7.80% | 8.20% | 8.20% | |||||||||
WPL (PSCW formula - retail jurisdiction) | 8.20% | 8.20% | 8.80% | |||||||||
WPL (FERC formula - wholesale jurisdiction) | 4.10% | 4.50% | 7.90% | |||||||||
(a) | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. | |||||||||||
In accordance with their most recent rate orders, IPL applies its AFUDC recovery rates to 100% of applicable CWIP balances and WPL generally applies its AFUDC recovery rates to 50% of applicable CWIP balances. WPL may apply its AFUDC recovery rates to 100% of the retail portion of the CWIP balances for construction projects requiring a CA or CPCN that were approved by the PSCW after their most recent rate order. | ||||||||||||
Non-utility Property - | ||||||||||||
General - Non-utility property is recorded at the original cost of acquisition or construction, which includes material, labor and contractor services. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Upon retirement or sale of non-utility property, the original cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in the income statements. | ||||||||||||
(f) Operating Revenues - | ||||||||||||
Utility - Revenues from Alliant Energy’s utility business are primarily from electricity and natural gas sales and are recognized on an accrual basis as services are rendered or commodities are delivered to customers. Energy sales to individual customers are based on the reading of customers’ meters, which occurs on a systematic basis throughout each reporting period. Amounts of energy delivered to customers since the date of the last meter reading are estimated at the end of each reporting period and the corresponding estimated unbilled revenue is recorded in such reporting period. The unbilled revenue estimate is based on daily system demand volumes, estimated customer usage by class, weather impacts, line losses and the most recent customer rates. | ||||||||||||
IPL and WPL accrue revenues from their wholesale customers to the extent that the actual net revenue requirements calculated in accordance with FERC-approved formula rates for the reporting period are higher or lower than the amounts billed to wholesale customers during such period. Regulatory assets or regulatory liabilities are recorded as the offset for these accrued revenues under formulaic rate-making programs. IPL’s estimated recovery amount is recorded in the current period of service and is reflected in customer bills within two years under the provisions of approved formula rates. WPL’s estimated recovery amount is recorded in the current period of service and subject to final adjustments after a customer audit period in the subsequent year. Final settled recovery amounts are reflected in WPL’s customer bills within two years under the provisions of approved formula rates. | ||||||||||||
IPL and WPL participate in bid/offer-based wholesale energy and ancillary services markets operated by MISO. IPL’s and WPL’s customers and generating resources are located in the MISO region. MISO requires that all load serving entities and generation owners, including IPL and WPL, submit hourly day-ahead and/or real-time bids and offers for energy and ancillary services. The MISO day-ahead and real-time transactions are grouped together, resulting in a net supply to or net purchase from MISO for each hour of each day. The net supply to MISO is recorded in “Electric utility operating revenues” and the net purchase from MISO is recorded in “Electric production fuel and energy purchases” in the income statements. IPL and WPL also engage in transactions in PJM’s bid/offer-based wholesale energy market, which are accounted for similar to the MISO transactions. | ||||||||||||
Non-regulated - Revenues from Alliant Energy’s non-regulated businesses are primarily from its Transportation business and are recognized on an accrual basis as services are rendered or goods are delivered to customers. | ||||||||||||
Taxes Collected from Customers - Certain of Alliant Energy’s subsidiaries serve as collection agents for sales or various other taxes and record revenues on a net basis. Operating revenues do not include the collection of the aforementioned taxes. | ||||||||||||
Revenue Recognition - Refer to Note 1(p) for discussion of a new accounting standard recently issued by FASB, which provides principles for recognizing revenue. | ||||||||||||
(g) Utility Cost Recovery Mechanisms - | ||||||||||||
Electric Production Fuel and Energy Purchases (Fuel-related Costs) - Fuel-related costs are incurred each period to generate and purchase electricity to meet the demand of IPL’s and WPL’s electric customers. These fuel-related costs include the cost of fossil fuels (primarily coal and natural gas) used during each period to produce electricity at their EGUs, electricity purchased each period from wholesale energy markets (primarily MISO) and under PPAs, costs for allowances acquired to allow certain emissions (primarily SO2 and NOx) from their EGUs and costs for chemicals utilized to control emissions from their EGUs. These fuel-related costs are recorded in “Electric production fuel and energy purchases” in the income statements. | ||||||||||||
IPL Retail - The cost recovery mechanisms applicable for IPL’s retail electric customers provide for subsequent adjustments to their electric rates each month for changes in fuel-related costs. Fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction also currently allow IPL to recover prudently incurred costs for emission allowances required to comply with EPA regulations, including the Acid Rain program and CAIR, through the fuel adjustment clause. Changes in the under-/over-collection of these costs each period are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and IPL’s income statements. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction currently do not contain a provision for recovery of emission controls chemical costs to flow through the fuel adjustment clause. The fuel adjustment clause rules applicable to IPL’s Minnesota retail jurisdiction currently do not contain a provision for recovery of emission allowance costs or emission controls chemical costs through the fuel adjustment clause. | ||||||||||||
Effective February 22, 2014, IPL began recovering the Iowa retail portion of the DAEC PPA costs from its Iowa retail electric customers through the fuel adjustment clause pursuant to a January 2013 IUB order. This PPA does not contain minimum payments for electric generating capacity. | ||||||||||||
WPL Retail - The cost recovery mechanism applicable for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test year periods and fuel monitoring ranges determined by the PSCW during each electric retail rate proceeding or in a separate fuel cost plan approval proceeding. However, if WPL’s actual fuel-related costs fall outside these fuel monitoring ranges during the test period, WPL is authorized to defer the incremental under-/over-collection of fuel-related costs that are outside the approved ranges. Deferral of under-collections are reduced to the extent actual return on common equity earned by WPL during the fuel cost plan year exceeds the most recently authorized return on common equity. Deferred amounts for fuel-related costs outside the approved fuel monitoring ranges are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and WPL’s income statements each period. The cumulative effects of these deferred amounts are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. WPL’s retail fuel-related costs include costs for emission allowances and emission controls chemicals. | ||||||||||||
IPL and WPL Wholesale - The cost recovery mechanisms applicable for IPL’s and WPL’s wholesale electric customers provide for subsequent adjustments to their electric rates for changes in fuel-related costs. Changes in the under-/over-collection of these costs are recognized in “Electric production fuel and energy purchases” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. IPL’s and WPL’s costs for emission allowances and emission controls chemicals are excluded from the fuel-related cost recovery mechanisms and are recovered from their wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Purchased Electric Capacity - PPAs help meet the electricity demand of IPL’s and WPL’s customers. Certain of these PPAs include minimum payments for IPL’s and WPL’s rights to electric generating capacity, which are charged each period to “Purchased electric capacity” in the income statements. Purchased electric capacity expenses are recovered from IPL’s and WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. Purchased electric capacity expenses are recovered from IPL’s and WPL’s wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Electric Transmission Service - Costs incurred for the transmission of electricity to meet the demands of IPL’s and WPL’s customers are charged each period to “Electric transmission service” in the income statements. | ||||||||||||
IPL Retail - Electric transmission service expense is recovered from IPL’s Iowa retail electric customers through a transmission cost rider. This cost recovery mechanism provides for annual adjustments to electric rates charged to Iowa electric retail customers for changes in electric transmission service expense. Changes in the under-/over-collection of these costs are recognized in “Electric transmission service” in Alliant Energy’s and IPL’s income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The transmission cost rider will remain in effect until the IUB’s final decision in IPL’s next retail electric base rate case, at which time the rider will continue in its current form, continue in a modified form or be terminated. | ||||||||||||
WPL Retail - Electric transmission service expense is recovered from WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. | ||||||||||||
Pursuant to the escrow accounting treatment WPL received as part of its approved retail electric rate case (2015/2016 Test Period) in July 2014 from the PSCW, the difference between actual electric transmission service expense incurred and the amount of electric transmission service costs collected from customers as electric revenues in 2015 and 2016 will be recognized in “Electric transmission service” in Alliant Energy’s and WPL’s income statements each period. An offsetting amount will be recorded in “Regulatory assets” or “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. | ||||||||||||
IPL and WPL Wholesale - IPL and WPL arrange transmission service for the majority of their respective wholesale electric customers. Electric transmission service expense is allocated to and recovered from these customers based on a load ratio share computation. | ||||||||||||
Cost of Gas Sold - Costs are incurred for the purchase, transportation and storage of natural gas to serve IPL’s and WPL’s gas customers and the costs associated with the natural gas delivered to customers during each period are charged to “Cost of gas sold” in the income statements. The tariffs for IPL’s and WPL’s retail gas customers provide for subsequent adjustments to their rates each month for changes in the cost of gas sold. Changes in the under-/over-collection of these costs are also recognized in “Cost of gas sold” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Energy Efficiency Costs - Costs are incurred to fund energy efficiency programs and initiatives that help customers reduce their energy usage. The costs incurred for these programs and initiatives are charged to “Utility - Other operation and maintenance” in the income statements each period. Energy efficiency costs incurred by IPL are recovered from its retail electric and gas customers in Iowa through an additional tariff called an EECR factor. EECR factors are revised annually and include a reconciliation to eliminate any under-/over-collection of energy efficiency costs from prior periods. Energy efficiency costs incurred by WPL are recovered from retail electric and gas customers through changes in base rates determined during periodic rate proceedings. Reconciliations of any under-/over-collection of energy efficiency costs from prior periods are also addressed in WPL’s periodic rate proceedings. Changes in the under-/over-collection of energy efficiency costs each period for IPL and WPL are recognized in “Utility - Other operation and maintenance” in the income statements. The cumulative effects of the under-/over-collection of these costs for IPL and WPL are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Refer to Note 2 for additional information regarding these utility cost recovery mechanisms. | ||||||||||||
(h) Financial Instruments - Financial instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. The fair value of those financial instruments that are determined to be derivatives are recorded as assets or liabilities on the balance sheets. At the end of each reporting period, derivative instruments representing unrealized gain positions are reported as derivative assets, and derivative instruments representing unrealized loss positions are reported as derivative liabilities. Certain commodity purchase and sales contracts qualify for and have been designated under the normal purchase and sale exception. Based on this designation, such contracts are accounted for on the accrual basis of accounting. Alliant Energy, IPL and WPL have elected to not net the fair value amounts of derivatives subject to a master netting arrangement by counterparty. Alliant Energy, IPL and WPL do not offset fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) against fair value amounts recognized for derivative instruments that are executed with the same counterparty under the same master netting arrangement. Refer to Note 2 for discussion of the recognition of regulatory assets and regulatory liabilities related to the unrealized losses and gains on IPL’s and WPL’s derivative instruments. Refer to Notes 14, 15 and 16(f) for further discussion of derivatives and related credit risk. | ||||||||||||
(i) Asset Impairments - | ||||||||||||
Property, Plant and Equipment of Regulated Operations - Property, plant and equipment of regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate all or a portion of the carrying value of the assets may be disallowed for rate-making purposes. If IPL or WPL are disallowed recovery of any portion of the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the amount of the carrying value that was disallowed. If IPL or WPL are disallowed a full or partial return on the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the difference between the carrying value and the present value of the future revenues expected from their regulated property, plant and equipment. Refer to Note 3 for discussion of adjustments made by Alliant Energy and IPL in 2013 to the carrying value of IPL’s Whispering Willow - East wind project, based on the MPUC approving full cost recovery of the Minnesota retail portion of the wind project construction costs in 2013. | ||||||||||||
Property, Plant and Equipment of Non-regulated Operations - Property, plant and equipment of non-regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Impairment is indicated if the carrying value of an asset exceeds its undiscounted future cash flows. An impairment charge is recognized equal to the amount the carrying value exceeds the asset’s fair value. | ||||||||||||
Unconsolidated Equity Investments - If events or circumstances indicate the carrying value of investments accounted for under the equity method of accounting may not be recoverable and the decline in value is other than temporary, potential impairment is assessed. If an impairment is indicated, a charge is recognized equal to the amount the carrying value exceeds the investment’s fair value. Refer to Note 6(a) for additional discussion of investments accounted for under the equity method of accounting. | ||||||||||||
(j) Emission Allowances - Emission allowances are granted by the EPA at zero cost and permit the holder of the allowances to emit certain gaseous by-products of fossil fuel combustion, including SO2 and NOx. Purchased emission allowances are recorded as intangible assets at their original cost and evaluated for impairment as long-lived assets to be held and used. Emission allowances allocated or acquired are held primarily for consumption. | ||||||||||||
Amortization of emission allowances recorded in “Electric production fuel and energy purchases” in the income statements in 2014, 2013 and 2012 was not material, and is based upon a weighted average cost for each EPA compliance program category of vintage year utilized during the reporting period. As of December 31, 2014, future estimated amortization expense for emission allowances was not material for 2015 through 2019. | ||||||||||||
Cash inflows and outflows related to sales and purchases of emission allowances are presented in investing activities in the cash flows statements. Refer to Note 2 for information regarding regulatory assets related to emission allowances. | ||||||||||||
(k) Asset Retirement Obligations - The fair value of a legal obligation associated with the retirement costs of an asset is recorded as a liability with an equivalent amount added to the asset cost when an asset is placed in service, when a legal obligation is subsequently identified or when sufficient information becomes available to determine a reasonable estimate of the fair value of future retirement costs. The fair value of AROs is determined using discounted cash flows analyses. The liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. Accretion and depreciation expenses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory assets on the balance sheets. Upon regulatory approval to recover IPL’s AROs expenditures, its regulatory assets are amortized to depreciation and amortization expenses in Alliant Energy’s and IPL’s income statements over the same time period that IPL’s customer rates are increased to recover the ARO expenditures. Effective January 1, 2013, WPL’s regulatory assets related to AROs are being recovered as a component of depreciation rates included in the most recent depreciation study approved by the PSCW in its May 2012 order. Accretion and depreciation expenses related to AROs for Alliant Energy’s non-regulated operations are recorded to depreciation and amortization expenses in Alliant Energy’s income statements. Upon settlement of the ARO liability, an entity settles the obligation for its recorded amount or incurs a gain or loss. Any gains or losses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory liabilities or regulatory assets on the balance sheets. Refer to Note 13 for additional discussion of AROs. | ||||||||||||
(l) Debt Issuance and Retirement Costs - Debt issuance costs and debt premiums or discounts are deferred and amortized over the expected life of each debt issue, considering maturity dates and, if applicable, redemption rights held by others. Alliant Energy’s non-regulated businesses and Corporate Services expense in the period of retirement any unamortized debt issuance costs and debt premiums or discounts on debt retired early. Refer to Note 2 for information on regulatory assets related to IPL’s and WPL’s debt retired early or refinanced. | ||||||||||||
(m) Allowance for Doubtful Accounts - Allowances for doubtful accounts are recorded for estimated losses resulting from the inability of customers to make required payments. Allowances for doubtful accounts are estimated based on historical write-offs, customer arrears and other economic factors within IPL’s and WPL’s service territories. Refer to Note 5(a) for details of allowance for doubtful accounts. | ||||||||||||
(n) Variable Interest Entities - An entity is considered a VIE if its equity investors do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties, or its equity investors lack any of the following characteristics: (1) power, through voting rights or similar rights, to direct the activities of the entity that most significantly impact the entity’s economic performance; (2) the obligation to absorb expected losses of the entity; or (3) the right to receive expected benefits of the entity. The primary beneficiary of a VIE is required to consolidate the VIE. The financial statements did not reflect any VIEs on a consolidated basis. | ||||||||||||
(o) Cash Flows Presentation - Alliant Energy presents cash flows from continuing operations together with cash flows from discontinued operations in its cash flows statements. | ||||||||||||
(p) New Accounting Pronouncements - | ||||||||||||
Revenue Recognition - In May 2014, FASB issued an accounting standard providing principles for recognizing revenue for the transfer of promised goods or services to customers with the consideration to which the entity expects to be entitled in exchange for those goods or services. This standard also requires disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2017 and are currently evaluating the impact on their financial condition and results of operations. | ||||||||||||
Discontinued Operations - In April 2014, FASB issued an accounting standard that changes the criteria for reporting and qualifying for discontinued operations. Under the new standard, a disposal of a component or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operational and financial results. The new standard also requires additional disclosures about discontinued operations and individually significant components of an entity that are disposed of or that are classified as held for sale and do not qualify for discontinued operations. In the fourth quarter of 2014, Alliant Energy, IPL and WPL elected to early adopt the new standard, which is applied prospectively. As of December 31, 2014, IPL’s Minnesota natural gas distribution assets qualified as held for sale. Alliant Energy and IPL evaluated the anticipated sale of these assets and believe it did not represent a strategic shift that has, or will have, a major effect on their operational and financial results. As a result, the operating results of IPL’s Minnesota natural gas distribution assets have not been separately classified and reported as discontinued operations in Alliant Energy’s and IPL’s income statements. Alliant Energy and IPL are currently evaluating the impact of the new standard on IPL’s anticipated sale of its Minnesota electric distribution assets and currently do not expect the anticipated sale of these assets to qualify as discontinued operations under the new standard. Refer to Note 19 for details of IPL’s Minnesota natural gas distribution assets and liabilities classified as held for sale as of December 31, 2014. | ||||||||||||
IPL [Member] | ||||||||||||
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||||
(a) General - | ||||||||||||
Description of Business - Alliant Energy’s financial statements include the accounts of Alliant Energy and its consolidated subsidiaries. Alliant Energy is an investor-owned public utility holding company, whose primary wholly-owned subsidiaries are IPL, WPL, Resources and Corporate Services. | ||||||||||||
IPL’s financial statements include the accounts of IPL and its consolidated subsidiary, IPL SPE LLC, which is used for IPL’s sales of accounts receivable program. IPL is a direct subsidiary of Alliant Energy and is engaged principally in the generation and distribution of electricity and the distribution and transportation of natural gas. IPL is also engaged in the generation and distribution of steam for two customers in Cedar Rapids, Iowa. IPL’s service territories are located in Iowa and southern Minnesota. Refer to Note 3 for discussion of IPL’s anticipated sales of its Minnesota electric and natural gas distribution assets. | ||||||||||||
WPL’s financial statements include the accounts of WPL and its consolidated subsidiary, WPL Transco, which holds Alliant Energy’s investment in ATC. WPL is a direct subsidiary of Alliant Energy and is engaged principally in the generation and distribution of electricity and the distribution and transportation of natural gas. WPL’s service territories are located in southern and central Wisconsin. | ||||||||||||
Resources is comprised of Transportation, Non-regulated Generation, ATI and other non-regulated investments. Transportation includes a short-line railway that provides freight service between Cedar Rapids, Iowa and Iowa City, Iowa; barge terminal and hauling services on the Mississippi River; and other transfer and storage services. Non-regulated Generation owns Sheboygan Falls, a 347 MW, simple-cycle, natural gas-fired EGU near Sheboygan Falls, Wisconsin, which is leased to WPL for an initial period of 20 years ending in 2025. In addition, Non-regulated Generation owns the non-regulated 99 MW Franklin County wind project located in Franklin County, Iowa. Refer to Note 6(a) for discussion of ATI, a wholly-owned subsidiary of Resources, which holds a partial interest in WPL Transco. Refer to Note 19 for discussion of Alliant Energy’s RMT business, which was sold in 2013. | ||||||||||||
Corporate Services is the subsidiary formed to provide administrative services to Alliant Energy and its subsidiaries. | ||||||||||||
Basis of Presentation - The financial statements reflect investments in controlled subsidiaries on a consolidated basis and Alliant Energy’s, IPL’s and WPL’s proportionate shares of jointly-owned utility EGUs. Unconsolidated investments, which Alliant Energy and WPL do not control, but do have the ability to exercise significant influence over operating and financial policies, are accounted for under the equity method of accounting. Investments that do not meet the criteria for consolidation or the equity method of accounting are accounted for under the cost method. Refer to Notes 1(n) and 6(a) for further discussion of VIEs and equity method investments, respectively. | ||||||||||||
All intercompany balances and transactions, other than certain transactions affecting the rate-making process at IPL and WPL, have been eliminated from the financial statements. Such transactions not eliminated include costs that are recoverable from customers through rate-making processes. The financial statements are prepared in conformity with GAAP, which give recognition to the rate-making and accounting practices of FERC and state commissions having regulatory jurisdiction. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. The balance sheets presentation changed from a utility format to a traditional format. This change revised the order of certain balance sheet line items and did not result in any changes in classification of amounts between line items. Unless otherwise noted, the notes herein exclude discontinued operations for all periods presented, and assets and liabilities held for sale as of December 31, 2014. | ||||||||||||
Use of Estimates - The preparation of the financial statements requires management to make estimates and assumptions that affect: (a) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (b) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||
(b) Regulatory Assets and Regulatory Liabilities - Alliant Energy, IPL and WPL are subject to regulation by FERC and various state regulatory commissions. As a result, Alliant Energy, IPL and WPL are subject to GAAP provisions for regulated operations, which provide that rate-regulated public utilities record certain costs and credits allowed in the rate-making process in different periods than for non-regulated entities. Regulatory assets generally represent incurred costs that have been deferred as such costs are probable of recovery in future customer rates. Regulatory liabilities generally represent obligations to make refunds to customers or amounts collected in rates for which the related costs have not yet been incurred. Amounts deferred as regulatory assets or accrued as regulatory liabilities are generally recognized in the income statements at the time they are reflected in rates. Refer to Note 2 for additional discussion of regulatory assets and regulatory liabilities. | ||||||||||||
(c) Income Taxes - The liability method of accounting is followed for deferred income taxes, which requires the establishment of deferred income tax assets and liabilities, as appropriate, for temporary differences between the tax basis of assets and liabilities and the amounts reported in the financial statements. Deferred income taxes are recorded using currently enacted tax rates and estimates of state apportionment rates. Changes in deferred income tax assets and liabilities associated with certain property-related differences at IPL are accounted for differently than other subsidiaries of Alliant Energy due to rate-making practices in Iowa. Rate-making practices in Iowa do not include the impact of certain deferred tax expenses (benefits) in the determination of retail rates. Based on these rate-making practices, deferred tax expense (benefit) related to these property-related differences at IPL is not recorded in the income statement but instead recorded to regulatory assets or regulatory liabilities until these temporary differences reverse. Refer to Note 2 for further discussion of regulatory assets and regulatory liabilities associated with property-related differences at IPL. In Wisconsin, the PSCW has allowed rate recovery of deferred tax expense on all temporary differences since 1991. | ||||||||||||
Investment tax credits are deferred and amortized to income over the average lives of the related property. Other tax credits reduce income tax expense in the year claimed. | ||||||||||||
The alternative transition method has been elected to calculate the beginning pool of excess tax benefits available to absorb any tax deficiencies associated with recognition of share-based payment awards. | ||||||||||||
Alliant Energy files a consolidated federal income tax return, which includes the aggregate taxable income or loss of Alliant Energy and its subsidiaries. In addition, a combined return including Alliant Energy and all of its subsidiaries is filed in Wisconsin. Alliant Energy subsidiaries with a presence in Iowa file as part of a consolidated return in Iowa. Under the terms of a tax sharing agreement between Alliant Energy and its subsidiaries, IPL and WPL calculate state income tax using consolidated apportionment rates applied to separate company taxable income. | ||||||||||||
(d) Cash and Cash Equivalents - Cash and cash equivalents include short-term liquid investments that have original maturities of less than 90 days. | ||||||||||||
(e) Property, Plant and Equipment - | ||||||||||||
Utility Plant - | ||||||||||||
General - Utility plant is recorded at the original cost of acquisition or construction, which includes material, labor, contractor services, AFUDC and allocable overheads, such as supervision, engineering, benefits, certain taxes and transportation. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Ordinary retirements of utility plant and salvage value are netted and charged to accumulated depreciation upon removal from utility plant accounts and no gain or loss is recognized consistent with rate-making policies. Removal costs incurred reduce the regulatory liability. Property, plant and equipment that is probable of being retired early is classified as plant anticipated to be retired early. | ||||||||||||
Depreciation - IPL and WPL use a combination of remaining life and straight-line depreciation methods as approved by their respective regulatory commissions. The composite or group method of depreciation is used, in which a single depreciation rate is applied to the gross investment in a particular class of property. This method pools similar assets and then depreciates each group as a whole. Periodic depreciation studies are performed to determine the appropriate group lives, net salvage, estimated cost of removal and group depreciation rates. These depreciation studies are subject to review and approval by IPL’s and WPL’s respective regulatory commissions. Depreciation expense is included within the recoverable cost of service component of rates charged to customers. The average rates of depreciation for electric, gas and other properties, consistent with current rate-making practices, were as follows: | ||||||||||||
IPL | WPL | |||||||||||
2014 | 2013 | 2012 | 2014 | 2013 (a) | 2012 | |||||||
Electric - generation | 3.60% | 3.60% | 3.70% | 3.20% | 3.30% | 3.20% | ||||||
Electric - distribution | 2.50% | 2.50% | 2.50% | 2.70% | 2.70% | 2.90% | ||||||
Gas | 3.30% | 3.40% | 3.40% | 2.50% | 2.50% | 2.60% | ||||||
Other | 4.20% | 4.40% | 4.50% | 6.00% | 5.10% | 5.30% | ||||||
(a) | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPL’s requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. | |||||||||||
AFUDC - AFUDC represents costs to finance construction additions including a return on equity component and cost of debt component as required by regulatory accounting. AFUDC for IPL’s construction projects is calculated in accordance with FERC guidelines. AFUDC for WPL’s retail and wholesale jurisdiction construction projects is calculated in accordance with PSCW and FERC guidelines, respectively. The AFUDC recovery rates, computed in accordance with the prescribed regulatory formula, were as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
IPL (FERC formula - Marshalltown CWIP) (a) | 8.00% | —% | —% | |||||||||
IPL (FERC formula - other CWIP) | 7.80% | 8.20% | 8.20% | |||||||||
WPL (PSCW formula - retail jurisdiction) | 8.20% | 8.20% | 8.80% | |||||||||
WPL (FERC formula - wholesale jurisdiction) | 4.10% | 4.50% | 7.90% | |||||||||
(a) | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. | |||||||||||
In accordance with their most recent rate orders, IPL applies its AFUDC recovery rates to 100% of applicable CWIP balances and WPL generally applies its AFUDC recovery rates to 50% of applicable CWIP balances. WPL may apply its AFUDC recovery rates to 100% of the retail portion of the CWIP balances for construction projects requiring a CA or CPCN that were approved by the PSCW after their most recent rate order. | ||||||||||||
Non-utility Property - | ||||||||||||
General - Non-utility property is recorded at the original cost of acquisition or construction, which includes material, labor and contractor services. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Upon retirement or sale of non-utility property, the original cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in the income statements. | ||||||||||||
(f) Operating Revenues - | ||||||||||||
Utility - Revenues from Alliant Energy’s utility business are primarily from electricity and natural gas sales and are recognized on an accrual basis as services are rendered or commodities are delivered to customers. Energy sales to individual customers are based on the reading of customers’ meters, which occurs on a systematic basis throughout each reporting period. Amounts of energy delivered to customers since the date of the last meter reading are estimated at the end of each reporting period and the corresponding estimated unbilled revenue is recorded in such reporting period. The unbilled revenue estimate is based on daily system demand volumes, estimated customer usage by class, weather impacts, line losses and the most recent customer rates. | ||||||||||||
IPL and WPL accrue revenues from their wholesale customers to the extent that the actual net revenue requirements calculated in accordance with FERC-approved formula rates for the reporting period are higher or lower than the amounts billed to wholesale customers during such period. Regulatory assets or regulatory liabilities are recorded as the offset for these accrued revenues under formulaic rate-making programs. IPL’s estimated recovery amount is recorded in the current period of service and is reflected in customer bills within two years under the provisions of approved formula rates. WPL’s estimated recovery amount is recorded in the current period of service and subject to final adjustments after a customer audit period in the subsequent year. Final settled recovery amounts are reflected in WPL’s customer bills within two years under the provisions of approved formula rates. | ||||||||||||
IPL and WPL participate in bid/offer-based wholesale energy and ancillary services markets operated by MISO. IPL’s and WPL’s customers and generating resources are located in the MISO region. MISO requires that all load serving entities and generation owners, including IPL and WPL, submit hourly day-ahead and/or real-time bids and offers for energy and ancillary services. The MISO day-ahead and real-time transactions are grouped together, resulting in a net supply to or net purchase from MISO for each hour of each day. The net supply to MISO is recorded in “Electric utility operating revenues” and the net purchase from MISO is recorded in “Electric production fuel and energy purchases” in the income statements. IPL and WPL also engage in transactions in PJM’s bid/offer-based wholesale energy market, which are accounted for similar to the MISO transactions. | ||||||||||||
Non-regulated - Revenues from Alliant Energy’s non-regulated businesses are primarily from its Transportation business and are recognized on an accrual basis as services are rendered or goods are delivered to customers. | ||||||||||||
Taxes Collected from Customers - Certain of Alliant Energy’s subsidiaries serve as collection agents for sales or various other taxes and record revenues on a net basis. Operating revenues do not include the collection of the aforementioned taxes. | ||||||||||||
Revenue Recognition - Refer to Note 1(p) for discussion of a new accounting standard recently issued by FASB, which provides principles for recognizing revenue. | ||||||||||||
(g) Utility Cost Recovery Mechanisms - | ||||||||||||
Electric Production Fuel and Energy Purchases (Fuel-related Costs) - Fuel-related costs are incurred each period to generate and purchase electricity to meet the demand of IPL’s and WPL’s electric customers. These fuel-related costs include the cost of fossil fuels (primarily coal and natural gas) used during each period to produce electricity at their EGUs, electricity purchased each period from wholesale energy markets (primarily MISO) and under PPAs, costs for allowances acquired to allow certain emissions (primarily SO2 and NOx) from their EGUs and costs for chemicals utilized to control emissions from their EGUs. These fuel-related costs are recorded in “Electric production fuel and energy purchases” in the income statements. | ||||||||||||
IPL Retail - The cost recovery mechanisms applicable for IPL’s retail electric customers provide for subsequent adjustments to their electric rates each month for changes in fuel-related costs. Fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction also currently allow IPL to recover prudently incurred costs for emission allowances required to comply with EPA regulations, including the Acid Rain program and CAIR, through the fuel adjustment clause. Changes in the under-/over-collection of these costs each period are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and IPL’s income statements. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction currently do not contain a provision for recovery of emission controls chemical costs to flow through the fuel adjustment clause. The fuel adjustment clause rules applicable to IPL’s Minnesota retail jurisdiction currently do not contain a provision for recovery of emission allowance costs or emission controls chemical costs through the fuel adjustment clause. | ||||||||||||
Effective February 22, 2014, IPL began recovering the Iowa retail portion of the DAEC PPA costs from its Iowa retail electric customers through the fuel adjustment clause pursuant to a January 2013 IUB order. This PPA does not contain minimum payments for electric generating capacity. | ||||||||||||
WPL Retail - The cost recovery mechanism applicable for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test year periods and fuel monitoring ranges determined by the PSCW during each electric retail rate proceeding or in a separate fuel cost plan approval proceeding. However, if WPL’s actual fuel-related costs fall outside these fuel monitoring ranges during the test period, WPL is authorized to defer the incremental under-/over-collection of fuel-related costs that are outside the approved ranges. Deferral of under-collections are reduced to the extent actual return on common equity earned by WPL during the fuel cost plan year exceeds the most recently authorized return on common equity. Deferred amounts for fuel-related costs outside the approved fuel monitoring ranges are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and WPL’s income statements each period. The cumulative effects of these deferred amounts are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. WPL’s retail fuel-related costs include costs for emission allowances and emission controls chemicals. | ||||||||||||
IPL and WPL Wholesale - The cost recovery mechanisms applicable for IPL’s and WPL’s wholesale electric customers provide for subsequent adjustments to their electric rates for changes in fuel-related costs. Changes in the under-/over-collection of these costs are recognized in “Electric production fuel and energy purchases” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. IPL’s and WPL’s costs for emission allowances and emission controls chemicals are excluded from the fuel-related cost recovery mechanisms and are recovered from their wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Purchased Electric Capacity - PPAs help meet the electricity demand of IPL’s and WPL’s customers. Certain of these PPAs include minimum payments for IPL’s and WPL’s rights to electric generating capacity, which are charged each period to “Purchased electric capacity” in the income statements. Purchased electric capacity expenses are recovered from IPL’s and WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. Purchased electric capacity expenses are recovered from IPL’s and WPL’s wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Electric Transmission Service - Costs incurred for the transmission of electricity to meet the demands of IPL’s and WPL’s customers are charged each period to “Electric transmission service” in the income statements. | ||||||||||||
IPL Retail - Electric transmission service expense is recovered from IPL’s Iowa retail electric customers through a transmission cost rider. This cost recovery mechanism provides for annual adjustments to electric rates charged to Iowa electric retail customers for changes in electric transmission service expense. Changes in the under-/over-collection of these costs are recognized in “Electric transmission service” in Alliant Energy’s and IPL’s income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The transmission cost rider will remain in effect until the IUB’s final decision in IPL’s next retail electric base rate case, at which time the rider will continue in its current form, continue in a modified form or be terminated. | ||||||||||||
WPL Retail - Electric transmission service expense is recovered from WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. | ||||||||||||
Pursuant to the escrow accounting treatment WPL received as part of its approved retail electric rate case (2015/2016 Test Period) in July 2014 from the PSCW, the difference between actual electric transmission service expense incurred and the amount of electric transmission service costs collected from customers as electric revenues in 2015 and 2016 will be recognized in “Electric transmission service” in Alliant Energy’s and WPL’s income statements each period. An offsetting amount will be recorded in “Regulatory assets” or “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. | ||||||||||||
IPL and WPL Wholesale - IPL and WPL arrange transmission service for the majority of their respective wholesale electric customers. Electric transmission service expense is allocated to and recovered from these customers based on a load ratio share computation. | ||||||||||||
Cost of Gas Sold - Costs are incurred for the purchase, transportation and storage of natural gas to serve IPL’s and WPL’s gas customers and the costs associated with the natural gas delivered to customers during each period are charged to “Cost of gas sold” in the income statements. The tariffs for IPL’s and WPL’s retail gas customers provide for subsequent adjustments to their rates each month for changes in the cost of gas sold. Changes in the under-/over-collection of these costs are also recognized in “Cost of gas sold” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Energy Efficiency Costs - Costs are incurred to fund energy efficiency programs and initiatives that help customers reduce their energy usage. The costs incurred for these programs and initiatives are charged to “Utility - Other operation and maintenance” in the income statements each period. Energy efficiency costs incurred by IPL are recovered from its retail electric and gas customers in Iowa through an additional tariff called an EECR factor. EECR factors are revised annually and include a reconciliation to eliminate any under-/over-collection of energy efficiency costs from prior periods. Energy efficiency costs incurred by WPL are recovered from retail electric and gas customers through changes in base rates determined during periodic rate proceedings. Reconciliations of any under-/over-collection of energy efficiency costs from prior periods are also addressed in WPL’s periodic rate proceedings. Changes in the under-/over-collection of energy efficiency costs each period for IPL and WPL are recognized in “Utility - Other operation and maintenance” in the income statements. The cumulative effects of the under-/over-collection of these costs for IPL and WPL are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Refer to Note 2 for additional information regarding these utility cost recovery mechanisms. | ||||||||||||
(h) Financial Instruments - Financial instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. The fair value of those financial instruments that are determined to be derivatives are recorded as assets or liabilities on the balance sheets. At the end of each reporting period, derivative instruments representing unrealized gain positions are reported as derivative assets, and derivative instruments representing unrealized loss positions are reported as derivative liabilities. Certain commodity purchase and sales contracts qualify for and have been designated under the normal purchase and sale exception. Based on this designation, such contracts are accounted for on the accrual basis of accounting. Alliant Energy, IPL and WPL have elected to not net the fair value amounts of derivatives subject to a master netting arrangement by counterparty. Alliant Energy, IPL and WPL do not offset fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) against fair value amounts recognized for derivative instruments that are executed with the same counterparty under the same master netting arrangement. Refer to Note 2 for discussion of the recognition of regulatory assets and regulatory liabilities related to the unrealized losses and gains on IPL’s and WPL’s derivative instruments. Refer to Notes 14, 15 and 16(f) for further discussion of derivatives and related credit risk. | ||||||||||||
(i) Asset Impairments - | ||||||||||||
Property, Plant and Equipment of Regulated Operations - Property, plant and equipment of regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate all or a portion of the carrying value of the assets may be disallowed for rate-making purposes. If IPL or WPL are disallowed recovery of any portion of the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the amount of the carrying value that was disallowed. If IPL or WPL are disallowed a full or partial return on the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the difference between the carrying value and the present value of the future revenues expected from their regulated property, plant and equipment. Refer to Note 3 for discussion of adjustments made by Alliant Energy and IPL in 2013 to the carrying value of IPL’s Whispering Willow - East wind project, based on the MPUC approving full cost recovery of the Minnesota retail portion of the wind project construction costs in 2013. | ||||||||||||
Property, Plant and Equipment of Non-regulated Operations - Property, plant and equipment of non-regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Impairment is indicated if the carrying value of an asset exceeds its undiscounted future cash flows. An impairment charge is recognized equal to the amount the carrying value exceeds the asset’s fair value. | ||||||||||||
Unconsolidated Equity Investments - If events or circumstances indicate the carrying value of investments accounted for under the equity method of accounting may not be recoverable and the decline in value is other than temporary, potential impairment is assessed. If an impairment is indicated, a charge is recognized equal to the amount the carrying value exceeds the investment’s fair value. Refer to Note 6(a) for additional discussion of investments accounted for under the equity method of accounting. | ||||||||||||
(j) Emission Allowances - Emission allowances are granted by the EPA at zero cost and permit the holder of the allowances to emit certain gaseous by-products of fossil fuel combustion, including SO2 and NOx. Purchased emission allowances are recorded as intangible assets at their original cost and evaluated for impairment as long-lived assets to be held and used. Emission allowances allocated or acquired are held primarily for consumption. | ||||||||||||
Amortization of emission allowances recorded in “Electric production fuel and energy purchases” in the income statements in 2014, 2013 and 2012 was not material, and is based upon a weighted average cost for each EPA compliance program category of vintage year utilized during the reporting period. As of December 31, 2014, future estimated amortization expense for emission allowances was not material for 2015 through 2019. | ||||||||||||
Cash inflows and outflows related to sales and purchases of emission allowances are presented in investing activities in the cash flows statements. Refer to Note 2 for information regarding regulatory assets related to emission allowances. | ||||||||||||
(k) Asset Retirement Obligations - The fair value of a legal obligation associated with the retirement costs of an asset is recorded as a liability with an equivalent amount added to the asset cost when an asset is placed in service, when a legal obligation is subsequently identified or when sufficient information becomes available to determine a reasonable estimate of the fair value of future retirement costs. The fair value of AROs is determined using discounted cash flows analyses. The liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. Accretion and depreciation expenses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory assets on the balance sheets. Upon regulatory approval to recover IPL’s AROs expenditures, its regulatory assets are amortized to depreciation and amortization expenses in Alliant Energy’s and IPL’s income statements over the same time period that IPL’s customer rates are increased to recover the ARO expenditures. Effective January 1, 2013, WPL’s regulatory assets related to AROs are being recovered as a component of depreciation rates included in the most recent depreciation study approved by the PSCW in its May 2012 order. Accretion and depreciation expenses related to AROs for Alliant Energy’s non-regulated operations are recorded to depreciation and amortization expenses in Alliant Energy’s income statements. Upon settlement of the ARO liability, an entity settles the obligation for its recorded amount or incurs a gain or loss. Any gains or losses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory liabilities or regulatory assets on the balance sheets. Refer to Note 13 for additional discussion of AROs. | ||||||||||||
(l) Debt Issuance and Retirement Costs - Debt issuance costs and debt premiums or discounts are deferred and amortized over the expected life of each debt issue, considering maturity dates and, if applicable, redemption rights held by others. Alliant Energy’s non-regulated businesses and Corporate Services expense in the period of retirement any unamortized debt issuance costs and debt premiums or discounts on debt retired early. Refer to Note 2 for information on regulatory assets related to IPL’s and WPL’s debt retired early or refinanced. | ||||||||||||
(m) Allowance for Doubtful Accounts - Allowances for doubtful accounts are recorded for estimated losses resulting from the inability of customers to make required payments. Allowances for doubtful accounts are estimated based on historical write-offs, customer arrears and other economic factors within IPL’s and WPL’s service territories. Refer to Note 5(a) for details of allowance for doubtful accounts. | ||||||||||||
(n) Variable Interest Entities - An entity is considered a VIE if its equity investors do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties, or its equity investors lack any of the following characteristics: (1) power, through voting rights or similar rights, to direct the activities of the entity that most significantly impact the entity’s economic performance; (2) the obligation to absorb expected losses of the entity; or (3) the right to receive expected benefits of the entity. The primary beneficiary of a VIE is required to consolidate the VIE. The financial statements did not reflect any VIEs on a consolidated basis. | ||||||||||||
(p) New Accounting Pronouncements - | ||||||||||||
Revenue Recognition - In May 2014, FASB issued an accounting standard providing principles for recognizing revenue for the transfer of promised goods or services to customers with the consideration to which the entity expects to be entitled in exchange for those goods or services. This standard also requires disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2017 and are currently evaluating the impact on their financial condition and results of operations. | ||||||||||||
Discontinued Operations - In April 2014, FASB issued an accounting standard that changes the criteria for reporting and qualifying for discontinued operations. Under the new standard, a disposal of a component or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operational and financial results. The new standard also requires additional disclosures about discontinued operations and individually significant components of an entity that are disposed of or that are classified as held for sale and do not qualify for discontinued operations. In the fourth quarter of 2014, Alliant Energy, IPL and WPL elected to early adopt the new standard, which is applied prospectively. As of December 31, 2014, IPL’s Minnesota natural gas distribution assets qualified as held for sale. Alliant Energy and IPL evaluated the anticipated sale of these assets and believe it did not represent a strategic shift that has, or will have, a major effect on their operational and financial results. As a result, the operating results of IPL’s Minnesota natural gas distribution assets have not been separately classified and reported as discontinued operations in Alliant Energy’s and IPL’s income statements. Alliant Energy and IPL are currently evaluating the impact of the new standard on IPL’s anticipated sale of its Minnesota electric distribution assets and currently do not expect the anticipated sale of these assets to qualify as discontinued operations under the new standard. Refer to Note 19 for details of IPL’s Minnesota natural gas distribution assets and liabilities classified as held for sale as of December 31, 2014. | ||||||||||||
WPL [Member] | ||||||||||||
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||||
(a) General - | ||||||||||||
Description of Business - Alliant Energy’s financial statements include the accounts of Alliant Energy and its consolidated subsidiaries. Alliant Energy is an investor-owned public utility holding company, whose primary wholly-owned subsidiaries are IPL, WPL, Resources and Corporate Services. | ||||||||||||
IPL’s financial statements include the accounts of IPL and its consolidated subsidiary, IPL SPE LLC, which is used for IPL’s sales of accounts receivable program. IPL is a direct subsidiary of Alliant Energy and is engaged principally in the generation and distribution of electricity and the distribution and transportation of natural gas. IPL is also engaged in the generation and distribution of steam for two customers in Cedar Rapids, Iowa. IPL’s service territories are located in Iowa and southern Minnesota. Refer to Note 3 for discussion of IPL’s anticipated sales of its Minnesota electric and natural gas distribution assets. | ||||||||||||
WPL’s financial statements include the accounts of WPL and its consolidated subsidiary, WPL Transco, which holds Alliant Energy’s investment in ATC. WPL is a direct subsidiary of Alliant Energy and is engaged principally in the generation and distribution of electricity and the distribution and transportation of natural gas. WPL’s service territories are located in southern and central Wisconsin. | ||||||||||||
Resources is comprised of Transportation, Non-regulated Generation, ATI and other non-regulated investments. Transportation includes a short-line railway that provides freight service between Cedar Rapids, Iowa and Iowa City, Iowa; barge terminal and hauling services on the Mississippi River; and other transfer and storage services. Non-regulated Generation owns Sheboygan Falls, a 347 MW, simple-cycle, natural gas-fired EGU near Sheboygan Falls, Wisconsin, which is leased to WPL for an initial period of 20 years ending in 2025. In addition, Non-regulated Generation owns the non-regulated 99 MW Franklin County wind project located in Franklin County, Iowa. Refer to Note 6(a) for discussion of ATI, a wholly-owned subsidiary of Resources, which holds a partial interest in WPL Transco. Refer to Note 19 for discussion of Alliant Energy’s RMT business, which was sold in 2013. | ||||||||||||
Corporate Services is the subsidiary formed to provide administrative services to Alliant Energy and its subsidiaries. | ||||||||||||
Basis of Presentation - The financial statements reflect investments in controlled subsidiaries on a consolidated basis and Alliant Energy’s, IPL’s and WPL’s proportionate shares of jointly-owned utility EGUs. Unconsolidated investments, which Alliant Energy and WPL do not control, but do have the ability to exercise significant influence over operating and financial policies, are accounted for under the equity method of accounting. Investments that do not meet the criteria for consolidation or the equity method of accounting are accounted for under the cost method. Refer to Notes 1(n) and 6(a) for further discussion of VIEs and equity method investments, respectively. | ||||||||||||
All intercompany balances and transactions, other than certain transactions affecting the rate-making process at IPL and WPL, have been eliminated from the financial statements. Such transactions not eliminated include costs that are recoverable from customers through rate-making processes. The financial statements are prepared in conformity with GAAP, which give recognition to the rate-making and accounting practices of FERC and state commissions having regulatory jurisdiction. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. The balance sheets presentation changed from a utility format to a traditional format. This change revised the order of certain balance sheet line items and did not result in any changes in classification of amounts between line items. Unless otherwise noted, the notes herein exclude discontinued operations for all periods presented, and assets and liabilities held for sale as of December 31, 2014. | ||||||||||||
Use of Estimates - The preparation of the financial statements requires management to make estimates and assumptions that affect: (a) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (b) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||
(b) Regulatory Assets and Regulatory Liabilities - Alliant Energy, IPL and WPL are subject to regulation by FERC and various state regulatory commissions. As a result, Alliant Energy, IPL and WPL are subject to GAAP provisions for regulated operations, which provide that rate-regulated public utilities record certain costs and credits allowed in the rate-making process in different periods than for non-regulated entities. Regulatory assets generally represent incurred costs that have been deferred as such costs are probable of recovery in future customer rates. Regulatory liabilities generally represent obligations to make refunds to customers or amounts collected in rates for which the related costs have not yet been incurred. Amounts deferred as regulatory assets or accrued as regulatory liabilities are generally recognized in the income statements at the time they are reflected in rates. Refer to Note 2 for additional discussion of regulatory assets and regulatory liabilities. | ||||||||||||
(c) Income Taxes - The liability method of accounting is followed for deferred income taxes, which requires the establishment of deferred income tax assets and liabilities, as appropriate, for temporary differences between the tax basis of assets and liabilities and the amounts reported in the financial statements. Deferred income taxes are recorded using currently enacted tax rates and estimates of state apportionment rates. Changes in deferred income tax assets and liabilities associated with certain property-related differences at IPL are accounted for differently than other subsidiaries of Alliant Energy due to rate-making practices in Iowa. Rate-making practices in Iowa do not include the impact of certain deferred tax expenses (benefits) in the determination of retail rates. Based on these rate-making practices, deferred tax expense (benefit) related to these property-related differences at IPL is not recorded in the income statement but instead recorded to regulatory assets or regulatory liabilities until these temporary differences reverse. Refer to Note 2 for further discussion of regulatory assets and regulatory liabilities associated with property-related differences at IPL. In Wisconsin, the PSCW has allowed rate recovery of deferred tax expense on all temporary differences since 1991. | ||||||||||||
Investment tax credits are deferred and amortized to income over the average lives of the related property. Other tax credits reduce income tax expense in the year claimed. | ||||||||||||
The alternative transition method has been elected to calculate the beginning pool of excess tax benefits available to absorb any tax deficiencies associated with recognition of share-based payment awards. | ||||||||||||
Alliant Energy files a consolidated federal income tax return, which includes the aggregate taxable income or loss of Alliant Energy and its subsidiaries. In addition, a combined return including Alliant Energy and all of its subsidiaries is filed in Wisconsin. Alliant Energy subsidiaries with a presence in Iowa file as part of a consolidated return in Iowa. Under the terms of a tax sharing agreement between Alliant Energy and its subsidiaries, IPL and WPL calculate state income tax using consolidated apportionment rates applied to separate company taxable income. | ||||||||||||
(d) Cash and Cash Equivalents - Cash and cash equivalents include short-term liquid investments that have original maturities of less than 90 days. | ||||||||||||
(e) Property, Plant and Equipment - | ||||||||||||
Utility Plant - | ||||||||||||
General - Utility plant is recorded at the original cost of acquisition or construction, which includes material, labor, contractor services, AFUDC and allocable overheads, such as supervision, engineering, benefits, certain taxes and transportation. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Ordinary retirements of utility plant and salvage value are netted and charged to accumulated depreciation upon removal from utility plant accounts and no gain or loss is recognized consistent with rate-making policies. Removal costs incurred reduce the regulatory liability. Property, plant and equipment that is probable of being retired early is classified as plant anticipated to be retired early. | ||||||||||||
Depreciation - IPL and WPL use a combination of remaining life and straight-line depreciation methods as approved by their respective regulatory commissions. The composite or group method of depreciation is used, in which a single depreciation rate is applied to the gross investment in a particular class of property. This method pools similar assets and then depreciates each group as a whole. Periodic depreciation studies are performed to determine the appropriate group lives, net salvage, estimated cost of removal and group depreciation rates. These depreciation studies are subject to review and approval by IPL’s and WPL’s respective regulatory commissions. Depreciation expense is included within the recoverable cost of service component of rates charged to customers. The average rates of depreciation for electric, gas and other properties, consistent with current rate-making practices, were as follows: | ||||||||||||
IPL | WPL | |||||||||||
2014 | 2013 | 2012 | 2014 | 2013 (a) | 2012 | |||||||
Electric - generation | 3.60% | 3.60% | 3.70% | 3.20% | 3.30% | 3.20% | ||||||
Electric - distribution | 2.50% | 2.50% | 2.50% | 2.70% | 2.70% | 2.90% | ||||||
Gas | 3.30% | 3.40% | 3.40% | 2.50% | 2.50% | 2.60% | ||||||
Other | 4.20% | 4.40% | 4.50% | 6.00% | 5.10% | 5.30% | ||||||
(a) | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPL’s requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. | |||||||||||
AFUDC - AFUDC represents costs to finance construction additions including a return on equity component and cost of debt component as required by regulatory accounting. AFUDC for IPL’s construction projects is calculated in accordance with FERC guidelines. AFUDC for WPL’s retail and wholesale jurisdiction construction projects is calculated in accordance with PSCW and FERC guidelines, respectively. The AFUDC recovery rates, computed in accordance with the prescribed regulatory formula, were as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
IPL (FERC formula - Marshalltown CWIP) (a) | 8.00% | —% | —% | |||||||||
IPL (FERC formula - other CWIP) | 7.80% | 8.20% | 8.20% | |||||||||
WPL (PSCW formula - retail jurisdiction) | 8.20% | 8.20% | 8.80% | |||||||||
WPL (FERC formula - wholesale jurisdiction) | 4.10% | 4.50% | 7.90% | |||||||||
(a) | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. | |||||||||||
In accordance with their most recent rate orders, IPL applies its AFUDC recovery rates to 100% of applicable CWIP balances and WPL generally applies its AFUDC recovery rates to 50% of applicable CWIP balances. WPL may apply its AFUDC recovery rates to 100% of the retail portion of the CWIP balances for construction projects requiring a CA or CPCN that were approved by the PSCW after their most recent rate order. | ||||||||||||
Non-utility Property - | ||||||||||||
General - Non-utility property is recorded at the original cost of acquisition or construction, which includes material, labor and contractor services. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Upon retirement or sale of non-utility property, the original cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in the income statements. | ||||||||||||
(f) Operating Revenues - | ||||||||||||
Utility - Revenues from Alliant Energy’s utility business are primarily from electricity and natural gas sales and are recognized on an accrual basis as services are rendered or commodities are delivered to customers. Energy sales to individual customers are based on the reading of customers’ meters, which occurs on a systematic basis throughout each reporting period. Amounts of energy delivered to customers since the date of the last meter reading are estimated at the end of each reporting period and the corresponding estimated unbilled revenue is recorded in such reporting period. The unbilled revenue estimate is based on daily system demand volumes, estimated customer usage by class, weather impacts, line losses and the most recent customer rates. | ||||||||||||
IPL and WPL accrue revenues from their wholesale customers to the extent that the actual net revenue requirements calculated in accordance with FERC-approved formula rates for the reporting period are higher or lower than the amounts billed to wholesale customers during such period. Regulatory assets or regulatory liabilities are recorded as the offset for these accrued revenues under formulaic rate-making programs. IPL’s estimated recovery amount is recorded in the current period of service and is reflected in customer bills within two years under the provisions of approved formula rates. WPL’s estimated recovery amount is recorded in the current period of service and subject to final adjustments after a customer audit period in the subsequent year. Final settled recovery amounts are reflected in WPL’s customer bills within two years under the provisions of approved formula rates. | ||||||||||||
IPL and WPL participate in bid/offer-based wholesale energy and ancillary services markets operated by MISO. IPL’s and WPL’s customers and generating resources are located in the MISO region. MISO requires that all load serving entities and generation owners, including IPL and WPL, submit hourly day-ahead and/or real-time bids and offers for energy and ancillary services. The MISO day-ahead and real-time transactions are grouped together, resulting in a net supply to or net purchase from MISO for each hour of each day. The net supply to MISO is recorded in “Electric utility operating revenues” and the net purchase from MISO is recorded in “Electric production fuel and energy purchases” in the income statements. IPL and WPL also engage in transactions in PJM’s bid/offer-based wholesale energy market, which are accounted for similar to the MISO transactions. | ||||||||||||
Non-regulated - Revenues from Alliant Energy’s non-regulated businesses are primarily from its Transportation business and are recognized on an accrual basis as services are rendered or goods are delivered to customers. | ||||||||||||
Taxes Collected from Customers - Certain of Alliant Energy’s subsidiaries serve as collection agents for sales or various other taxes and record revenues on a net basis. Operating revenues do not include the collection of the aforementioned taxes. | ||||||||||||
Revenue Recognition - Refer to Note 1(p) for discussion of a new accounting standard recently issued by FASB, which provides principles for recognizing revenue. | ||||||||||||
(g) Utility Cost Recovery Mechanisms - | ||||||||||||
Electric Production Fuel and Energy Purchases (Fuel-related Costs) - Fuel-related costs are incurred each period to generate and purchase electricity to meet the demand of IPL’s and WPL’s electric customers. These fuel-related costs include the cost of fossil fuels (primarily coal and natural gas) used during each period to produce electricity at their EGUs, electricity purchased each period from wholesale energy markets (primarily MISO) and under PPAs, costs for allowances acquired to allow certain emissions (primarily SO2 and NOx) from their EGUs and costs for chemicals utilized to control emissions from their EGUs. These fuel-related costs are recorded in “Electric production fuel and energy purchases” in the income statements. | ||||||||||||
IPL Retail - The cost recovery mechanisms applicable for IPL’s retail electric customers provide for subsequent adjustments to their electric rates each month for changes in fuel-related costs. Fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction also currently allow IPL to recover prudently incurred costs for emission allowances required to comply with EPA regulations, including the Acid Rain program and CAIR, through the fuel adjustment clause. Changes in the under-/over-collection of these costs each period are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and IPL’s income statements. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction currently do not contain a provision for recovery of emission controls chemical costs to flow through the fuel adjustment clause. The fuel adjustment clause rules applicable to IPL’s Minnesota retail jurisdiction currently do not contain a provision for recovery of emission allowance costs or emission controls chemical costs through the fuel adjustment clause. | ||||||||||||
Effective February 22, 2014, IPL began recovering the Iowa retail portion of the DAEC PPA costs from its Iowa retail electric customers through the fuel adjustment clause pursuant to a January 2013 IUB order. This PPA does not contain minimum payments for electric generating capacity. | ||||||||||||
WPL Retail - The cost recovery mechanism applicable for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test year periods and fuel monitoring ranges determined by the PSCW during each electric retail rate proceeding or in a separate fuel cost plan approval proceeding. However, if WPL’s actual fuel-related costs fall outside these fuel monitoring ranges during the test period, WPL is authorized to defer the incremental under-/over-collection of fuel-related costs that are outside the approved ranges. Deferral of under-collections are reduced to the extent actual return on common equity earned by WPL during the fuel cost plan year exceeds the most recently authorized return on common equity. Deferred amounts for fuel-related costs outside the approved fuel monitoring ranges are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and WPL’s income statements each period. The cumulative effects of these deferred amounts are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. WPL’s retail fuel-related costs include costs for emission allowances and emission controls chemicals. | ||||||||||||
IPL and WPL Wholesale - The cost recovery mechanisms applicable for IPL’s and WPL’s wholesale electric customers provide for subsequent adjustments to their electric rates for changes in fuel-related costs. Changes in the under-/over-collection of these costs are recognized in “Electric production fuel and energy purchases” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. IPL’s and WPL’s costs for emission allowances and emission controls chemicals are excluded from the fuel-related cost recovery mechanisms and are recovered from their wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Purchased Electric Capacity - PPAs help meet the electricity demand of IPL’s and WPL’s customers. Certain of these PPAs include minimum payments for IPL’s and WPL’s rights to electric generating capacity, which are charged each period to “Purchased electric capacity” in the income statements. Purchased electric capacity expenses are recovered from IPL’s and WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. Purchased electric capacity expenses are recovered from IPL’s and WPL’s wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Electric Transmission Service - Costs incurred for the transmission of electricity to meet the demands of IPL’s and WPL’s customers are charged each period to “Electric transmission service” in the income statements. | ||||||||||||
IPL Retail - Electric transmission service expense is recovered from IPL’s Iowa retail electric customers through a transmission cost rider. This cost recovery mechanism provides for annual adjustments to electric rates charged to Iowa electric retail customers for changes in electric transmission service expense. Changes in the under-/over-collection of these costs are recognized in “Electric transmission service” in Alliant Energy’s and IPL’s income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The transmission cost rider will remain in effect until the IUB’s final decision in IPL’s next retail electric base rate case, at which time the rider will continue in its current form, continue in a modified form or be terminated. | ||||||||||||
WPL Retail - Electric transmission service expense is recovered from WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. | ||||||||||||
Pursuant to the escrow accounting treatment WPL received as part of its approved retail electric rate case (2015/2016 Test Period) in July 2014 from the PSCW, the difference between actual electric transmission service expense incurred and the amount of electric transmission service costs collected from customers as electric revenues in 2015 and 2016 will be recognized in “Electric transmission service” in Alliant Energy’s and WPL’s income statements each period. An offsetting amount will be recorded in “Regulatory assets” or “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. | ||||||||||||
IPL and WPL Wholesale - IPL and WPL arrange transmission service for the majority of their respective wholesale electric customers. Electric transmission service expense is allocated to and recovered from these customers based on a load ratio share computation. | ||||||||||||
Cost of Gas Sold - Costs are incurred for the purchase, transportation and storage of natural gas to serve IPL’s and WPL’s gas customers and the costs associated with the natural gas delivered to customers during each period are charged to “Cost of gas sold” in the income statements. The tariffs for IPL’s and WPL’s retail gas customers provide for subsequent adjustments to their rates each month for changes in the cost of gas sold. Changes in the under-/over-collection of these costs are also recognized in “Cost of gas sold” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Energy Efficiency Costs - Costs are incurred to fund energy efficiency programs and initiatives that help customers reduce their energy usage. The costs incurred for these programs and initiatives are charged to “Utility - Other operation and maintenance” in the income statements each period. Energy efficiency costs incurred by IPL are recovered from its retail electric and gas customers in Iowa through an additional tariff called an EECR factor. EECR factors are revised annually and include a reconciliation to eliminate any under-/over-collection of energy efficiency costs from prior periods. Energy efficiency costs incurred by WPL are recovered from retail electric and gas customers through changes in base rates determined during periodic rate proceedings. Reconciliations of any under-/over-collection of energy efficiency costs from prior periods are also addressed in WPL’s periodic rate proceedings. Changes in the under-/over-collection of energy efficiency costs each period for IPL and WPL are recognized in “Utility - Other operation and maintenance” in the income statements. The cumulative effects of the under-/over-collection of these costs for IPL and WPL are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Refer to Note 2 for additional information regarding these utility cost recovery mechanisms. | ||||||||||||
(h) Financial Instruments - Financial instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. The fair value of those financial instruments that are determined to be derivatives are recorded as assets or liabilities on the balance sheets. At the end of each reporting period, derivative instruments representing unrealized gain positions are reported as derivative assets, and derivative instruments representing unrealized loss positions are reported as derivative liabilities. Certain commodity purchase and sales contracts qualify for and have been designated under the normal purchase and sale exception. Based on this designation, such contracts are accounted for on the accrual basis of accounting. Alliant Energy, IPL and WPL have elected to not net the fair value amounts of derivatives subject to a master netting arrangement by counterparty. Alliant Energy, IPL and WPL do not offset fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) against fair value amounts recognized for derivative instruments that are executed with the same counterparty under the same master netting arrangement. Refer to Note 2 for discussion of the recognition of regulatory assets and regulatory liabilities related to the unrealized losses and gains on IPL’s and WPL’s derivative instruments. Refer to Notes 14, 15 and 16(f) for further discussion of derivatives and related credit risk. | ||||||||||||
(i) Asset Impairments - | ||||||||||||
Property, Plant and Equipment of Regulated Operations - Property, plant and equipment of regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate all or a portion of the carrying value of the assets may be disallowed for rate-making purposes. If IPL or WPL are disallowed recovery of any portion of the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the amount of the carrying value that was disallowed. If IPL or WPL are disallowed a full or partial return on the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the difference between the carrying value and the present value of the future revenues expected from their regulated property, plant and equipment. Refer to Note 3 for discussion of adjustments made by Alliant Energy and IPL in 2013 to the carrying value of IPL’s Whispering Willow - East wind project, based on the MPUC approving full cost recovery of the Minnesota retail portion of the wind project construction costs in 2013. | ||||||||||||
Property, Plant and Equipment of Non-regulated Operations - Property, plant and equipment of non-regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Impairment is indicated if the carrying value of an asset exceeds its undiscounted future cash flows. An impairment charge is recognized equal to the amount the carrying value exceeds the asset’s fair value. | ||||||||||||
Unconsolidated Equity Investments - If events or circumstances indicate the carrying value of investments accounted for under the equity method of accounting may not be recoverable and the decline in value is other than temporary, potential impairment is assessed. If an impairment is indicated, a charge is recognized equal to the amount the carrying value exceeds the investment’s fair value. Refer to Note 6(a) for additional discussion of investments accounted for under the equity method of accounting. | ||||||||||||
(j) Emission Allowances - Emission allowances are granted by the EPA at zero cost and permit the holder of the allowances to emit certain gaseous by-products of fossil fuel combustion, including SO2 and NOx. Purchased emission allowances are recorded as intangible assets at their original cost and evaluated for impairment as long-lived assets to be held and used. Emission allowances allocated or acquired are held primarily for consumption. | ||||||||||||
Amortization of emission allowances recorded in “Electric production fuel and energy purchases” in the income statements in 2014, 2013 and 2012 was not material, and is based upon a weighted average cost for each EPA compliance program category of vintage year utilized during the reporting period. As of December 31, 2014, future estimated amortization expense for emission allowances was not material for 2015 through 2019. | ||||||||||||
Cash inflows and outflows related to sales and purchases of emission allowances are presented in investing activities in the cash flows statements. Refer to Note 2 for information regarding regulatory assets related to emission allowances. | ||||||||||||
(k) Asset Retirement Obligations - The fair value of a legal obligation associated with the retirement costs of an asset is recorded as a liability with an equivalent amount added to the asset cost when an asset is placed in service, when a legal obligation is subsequently identified or when sufficient information becomes available to determine a reasonable estimate of the fair value of future retirement costs. The fair value of AROs is determined using discounted cash flows analyses. The liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. Accretion and depreciation expenses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory assets on the balance sheets. Upon regulatory approval to recover IPL’s AROs expenditures, its regulatory assets are amortized to depreciation and amortization expenses in Alliant Energy’s and IPL’s income statements over the same time period that IPL’s customer rates are increased to recover the ARO expenditures. Effective January 1, 2013, WPL’s regulatory assets related to AROs are being recovered as a component of depreciation rates included in the most recent depreciation study approved by the PSCW in its May 2012 order. Accretion and depreciation expenses related to AROs for Alliant Energy’s non-regulated operations are recorded to depreciation and amortization expenses in Alliant Energy’s income statements. Upon settlement of the ARO liability, an entity settles the obligation for its recorded amount or incurs a gain or loss. Any gains or losses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory liabilities or regulatory assets on the balance sheets. Refer to Note 13 for additional discussion of AROs. | ||||||||||||
(l) Debt Issuance and Retirement Costs - Debt issuance costs and debt premiums or discounts are deferred and amortized over the expected life of each debt issue, considering maturity dates and, if applicable, redemption rights held by others. Alliant Energy’s non-regulated businesses and Corporate Services expense in the period of retirement any unamortized debt issuance costs and debt premiums or discounts on debt retired early. Refer to Note 2 for information on regulatory assets related to IPL’s and WPL’s debt retired early or refinanced. | ||||||||||||
(m) Allowance for Doubtful Accounts - Allowances for doubtful accounts are recorded for estimated losses resulting from the inability of customers to make required payments. Allowances for doubtful accounts are estimated based on historical write-offs, customer arrears and other economic factors within IPL’s and WPL’s service territories. Refer to Note 5(a) for details of allowance for doubtful accounts. | ||||||||||||
(n) Variable Interest Entities - An entity is considered a VIE if its equity investors do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties, or its equity investors lack any of the following characteristics: (1) power, through voting rights or similar rights, to direct the activities of the entity that most significantly impact the entity’s economic performance; (2) the obligation to absorb expected losses of the entity; or (3) the right to receive expected benefits of the entity. The primary beneficiary of a VIE is required to consolidate the VIE. The financial statements did not reflect any VIEs on a consolidated basis. | ||||||||||||
(p) New Accounting Pronouncements - | ||||||||||||
Revenue Recognition - In May 2014, FASB issued an accounting standard providing principles for recognizing revenue for the transfer of promised goods or services to customers with the consideration to which the entity expects to be entitled in exchange for those goods or services. This standard also requires disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2017 and are currently evaluating the impact on their financial condition and results of operations. | ||||||||||||
Discontinued Operations - In April 2014, FASB issued an accounting standard that changes the criteria for reporting and qualifying for discontinued operations. Under the new standard, a disposal of a component or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operational and financial results. The new standard also requires additional disclosures about discontinued operations and individually significant components of an entity that are disposed of or that are classified as held for sale and do not qualify for discontinued operations. In the fourth quarter of 2014, Alliant Energy, IPL and WPL elected to early adopt the new standard, which is applied prospectively. As of December 31, 2014, IPL’s Minnesota natural gas distribution assets qualified as held for sale. Alliant Energy and IPL evaluated the anticipated sale of these assets and believe it did not represent a strategic shift that has, or will have, a major effect on their operational and financial results. As a result, the operating results of IPL’s Minnesota natural gas distribution assets have not been separately classified and reported as discontinued operations in Alliant Energy’s and IPL’s income statements. Alliant Energy and IPL are currently evaluating the impact of the new standard on IPL’s anticipated sale of its Minnesota electric distribution assets and currently do not expect the anticipated sale of these assets to qualify as discontinued operations under the new standard. Refer to Note 19 for details of IPL’s Minnesota natural gas distribution assets and liabilities classified as held for sale as of December 31, 2014. |
Regulatory_Matters
Regulatory Matters | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Regulatory Matters [Line Items] | ||||||||||||||||||||||||
Regulatory Matters | REGULATORY MATTERS | |||||||||||||||||||||||
Regulatory Assets - At December 31, regulatory assets were comprised of the following items (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Tax-related | $955.30 | $829.70 | $928.00 | $798.60 | $27.30 | $31.10 | ||||||||||||||||||
Pension and OPEB costs | 570.2 | 355.3 | 287.9 | 174.2 | 282.3 | 181.1 | ||||||||||||||||||
AROs | 73.7 | 65.7 | 41.4 | 36.7 | 32.3 | 29 | ||||||||||||||||||
Derivatives | 46.9 | 21.1 | 28 | 5.9 | 18.9 | 15.2 | ||||||||||||||||||
Commodity cost recovery | 31.1 | 2 | 0.4 | 0.7 | 30.7 | 1.3 | ||||||||||||||||||
Emission allowances | 27.4 | 30 | 27.4 | 30 | — | — | ||||||||||||||||||
Debt redemption costs | 16.1 | 17.9 | 10.9 | 12.2 | 5.2 | 5.7 | ||||||||||||||||||
Environmental-related costs | 16 | 25 | 11.5 | 21 | 4.5 | 4 | ||||||||||||||||||
Other | 47 | 66.5 | 22.4 | 34.2 | 24.6 | 32.3 | ||||||||||||||||||
$1,783.70 | $1,413.20 | $1,357.90 | $1,113.50 | $425.80 | $299.70 | |||||||||||||||||||
A portion of the regulatory assets in the above table are not earning a return. These regulatory assets are expected to be recovered from customers in future rates; however, the respective carrying costs of these assets are not expected to be recovered from customers in future rates. At December 31, 2014, IPL and WPL had $26 million and $10 million, respectively, of regulatory assets representing past expenditures that were not earning a return. IPL’s regulatory assets that were not earning a return consisted primarily of clean air compliance projects and debt redemption costs. WPL’s regulatory assets that were not earning a return consisted primarily of amounts related to the wholesale portion of under-collected fuel-related costs, which is discussed in Note 1(g), and environmental-related costs. The other regulatory assets reported in the above table either earn a return or the cash has not yet been expended, in which case the assets are offset by liabilities that also do not incur a carrying cost. | ||||||||||||||||||||||||
Tax-related - IPL and WPL record regulatory assets for certain temporary differences (primarily related to utility property, plant and equipment at IPL) that result in a decrease in current rates charged to customers and an increase in future rates charged to customers based on the timing of income tax expense that is used to determine such rates. These temporary differences include the impacts of qualifying deductions for repairs expenditures and allocation of mixed service costs, and Iowa accelerated tax depreciation, which all contribute to lower current income tax expense during the first part of an asset’s useful life and higher current tax expense during the last part of an asset’s useful life. These regulatory assets will be recovered from customers in the future when these temporary differences reverse resulting in additional current income tax expense used to determine customers’ rates. During 2014, Alliant Energy’s and IPL’s tax-related regulatory assets increased primarily due to property-related differences for qualifying repair expenditures, allocation of mixed service costs and tax accounting method changes in 2014 for cost of removal expenditures and repair expenditures for electric generation property at IPL. The increase related to the tax accounting method changes was offset by increased regulatory liabilities as discussed below in “IPL’s tax benefit riders.” | ||||||||||||||||||||||||
Pension and other postretirement benefits costs - The IUB and the PSCW have authorized IPL and WPL to record the retail portion of their respective previously unrecognized net actuarial gains and losses, and prior service costs and credits, as regulatory assets in lieu of AOCL on the balance sheets, as these amounts are expected to be recovered in future rates. IPL and WPL also recognize the wholesale portion of their previously unrecognized net actuarial gains and losses, and prior service costs and credits, as regulatory assets on the balance sheets because these costs are expected to be recovered in rates in future periods under the formula rate structure. These regulatory assets will be increased or decreased as the net actuarial gains or losses, and prior service costs or credits, are subsequently amortized and recognized as a component of net periodic benefit costs. Regulatory assets are also increased or decreased as a result of the annual defined benefit plan measurement process. During 2014, Alliant Energy’s, IPL’s and WPL’s pension and OPEB costs regulatory assets increased due to an increase in unrecognized net actuarial losses caused by lower discount rates and a change in life expectancy assumptions used in the annual defined benefit plan measurement process as of December 31, 2014 compared to December 31, 2013. | ||||||||||||||||||||||||
Pension and OPEB costs are included within the recoverable cost of service component of rates charged to IPL’s and WPL’s customers. The recoverable costs included in customers’ rates are based upon pension and OPEB costs determined in accordance with GAAP and are calculated using different methods for the various regulatory jurisdictions in which IPL and WPL operate. The IUB authorized IPL in its 2009 test year Iowa retail electric rate case order to recover from its retail electric customers in Iowa an allocated portion of annual costs equal to a two-year simple average of actual costs incurred during its test year (2009) and an estimate of costs for its forward-looking post-test year (2010). The PSCW authorized WPL in its Wisconsin retail rate cases for the 2013/2014 and 2015/2016 test periods to recover from its electric and gas retail customers an estimated allocated portion of annual costs equal to the costs expected to be incurred during the respective test year periods. IPL and WPL are authorized to recover from their wholesale customers an allocated portion of actual pension costs incurred each year. In accordance with FERC-approved formula rates, any over- or under-collection of these pension costs each year are refunded to or recovered from customers through subsequent changes to wholesale customer rates. Refer to Note 12(a) for additional details regarding pension and OPEB costs. | ||||||||||||||||||||||||
AROs - Alliant Energy, IPL and WPL believe it is probable that any differences between expenses accrued for legal AROs related to their regulated operations and expenses recovered currently in rates will be recoverable in future rates, and are deferring the differences as regulatory assets. Refer to Note 13 for additional details of AROs. | ||||||||||||||||||||||||
Derivatives - In accordance with IPL’s and WPL’s fuel and natural gas recovery mechanisms, prudently incurred costs from derivative instruments are recoverable from customers in the future after any losses are realized and gains from derivative instruments are refundable to customers in the future after any gains are realized. Based on these recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/liabilities on the balance sheets. Refer to Note 15 for additional details of derivative assets and derivative liabilities. | ||||||||||||||||||||||||
Commodity cost recovery - Refer to Note 1(g) for additional details of IPL’s and WPL’s cost recovery mechanisms, and “WPL’s Retail Fuel-related Rate Filing (2014 Test Year)” below for discussion of the increase in Alliant Energy’s and WPL’s commodity cost recovery regulatory assets in 2014. | ||||||||||||||||||||||||
Emission allowances - IPL entered into forward contracts in 2007 to purchase SO2 emission allowances with vintage years of 2014 through 2017 from various counterparties for $34 million to meet future CAIR emission reduction standards. Any SO2 emission allowances acquired under these forward contracts could be used to meet requirements under the existing Acid Rain program regulations or the more stringent CAIR emission reduction standards but are not eligible to be used for compliance requirements under CSAPR. In 2011, the EPA issued CSAPR to replace CAIR with an anticipated effective date in 2012. As a result of the issuance of CSAPR, Alliant Energy and IPL concluded in 2011 that the allowances to be acquired under these forward contracts would not be needed by IPL to comply with expected environmental regulations in the future. The value of these allowances was nominal, which was significantly below the $34 million contract price for these allowances. As a result, Alliant Energy and IPL recognized charges of $34 million for these forward contracts in 2011 with an offsetting obligation recorded in other liabilities. Alliant Energy and IPL concluded that $30 million of the charges are probable of recovery from IPL’s customers, and therefore, were recorded to regulatory assets in 2011. The current value of these allowances continues to be nominal and significantly below the $34 million contract price for these allowances. Alliant Energy and IPL believe the unamortized balance of this regulatory asset is probable of future recovery. | ||||||||||||||||||||||||
Debt redemption costs - For debt retired early with no subsequent re-issuance, IPL and WPL defer any debt repayment premiums and unamortized debt issuance costs and discounts as regulatory assets. These regulatory assets are amortized over the remaining original life of the debt retired early. Debt repayment premiums and other losses resulting from the refinancing of debt by IPL and WPL are deferred as regulatory assets and amortized over the life of the new debt issued. | ||||||||||||||||||||||||
Environmental-related costs - The IUB has permitted IPL to recover prudently incurred costs by allowing a representative level of MGP costs in the recoverable cost of service component of rates, as determined in its most recent retail gas rate case. Under the current rate-making treatment approved by the PSCW, the MGP expenditures of WPL are deferred and collected from retail gas customers over a five-year period after new rates are implemented. Regulatory assets recorded by IPL and WPL reflect the probable future rate recovery of MGP expenditures. Refer to Note 16(e) for additional details of environmental-related MGP costs. | ||||||||||||||||||||||||
Other - Alliant Energy, IPL and WPL assess whether IPL’s and WPL’s regulatory assets are probable of future recovery by considering factors such as applicable regulations, recent orders by the applicable regulatory agencies, historical treatment of similar costs by the applicable regulatory agencies and regulatory environment changes. Based on these assessments, Alliant Energy, IPL and WPL believe the regulatory assets recognized as of December 31, 2014 in the above table are probable of future recovery. However, no assurance can be made that IPL and WPL will recover all of these regulatory assets in future rates. If future recovery of a regulatory asset ceases to be probable, the regulatory asset will be charged to expense in the period in which future recovery ceases to be probable. | ||||||||||||||||||||||||
Based on the PSCW’s July 2012 order related to WPL’s 2013/2014 test period Wisconsin retail electric and gas rate case, WPL was authorized to recover previously incurred costs associated with the acquisition of a 25% ownership interest in Edgewater Unit 5 and proposed emission controls projects. As a result, Alliant Energy and WPL recorded a $5 million increase to regulatory assets, and a $5 million credit to “Utility - Other operation and maintenance” in their income statements in 2012. | ||||||||||||||||||||||||
Regulatory Liabilities - At December 31, regulatory liabilities were comprised of the following items (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cost of removal obligations | $421.70 | $418.90 | $279.10 | $277.70 | $142.60 | $141.20 | ||||||||||||||||||
IPL’s tax benefit riders | 243 | 265.4 | 243 | 265.4 | — | — | ||||||||||||||||||
Energy efficiency cost recovery | 64.3 | 52.7 | — | 9.3 | 64.3 | 43.4 | ||||||||||||||||||
IPL’s electric transmission cost recovery | 19.4 | 14.6 | 19.4 | 14.6 | — | — | ||||||||||||||||||
Commodity cost recovery | 15.4 | 7.5 | 15.1 | 5.5 | 0.3 | 2 | ||||||||||||||||||
IPL’s electric transmission assets sale | 11.3 | 21.6 | 11.3 | 21.6 | — | — | ||||||||||||||||||
Other | 46.1 | 40.8 | 15.6 | 20.8 | 30.5 | 20 | ||||||||||||||||||
$821.20 | $821.50 | $583.50 | $614.90 | $237.70 | $206.60 | |||||||||||||||||||
Regulatory liabilities related to cost of removal obligations, to the extent expensed through depreciation rates, reduce rate base. A significant portion of the remaining regulatory liabilities are not used to reduce rate base in the revenue requirement calculations utilized in IPL’s and WPL’s respective rate proceedings. | ||||||||||||||||||||||||
Cost of removal obligations - Alliant Energy, IPL and WPL collect in rates future removal costs for many assets that do not have associated legal AROs. Alliant Energy, IPL and WPL record a regulatory liability for the estimated amounts they have collected in rates for these future removal costs less amounts spent on removal activities. | ||||||||||||||||||||||||
IPL’s tax benefit riders - IPL’s tax benefit riders utilize regulatory liabilities to credit bills of IPL’s Iowa retail electric and gas customers to help offset the impact of rate increases on such customers. These regulatory liabilities are related to tax benefits from tax accounting method changes for repairs expenditures, allocation of mixed service costs, allocation of insurance proceeds from floods in 2008, and cost of removal expenditures. In 2014, Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by ($22) million as follows (in millions): | ||||||||||||||||||||||||
Electric tax benefit rider credits | ($85 | ) | ||||||||||||||||||||||
Gas tax benefit rider credits | (12 | ) | ||||||||||||||||||||||
Tax accounting method changes | 75 | |||||||||||||||||||||||
($22 | ) | |||||||||||||||||||||||
In 2013, the U.S. Department of the Treasury issued tangible property regulations clarifying the tax treatment of costs incurred to acquire, maintain or improve tangible property and to retire and remove depreciable property. The regulations clarified the ability to deduct cost of removal expenditures on partial dispositions of assets. In 2014, the IRS issued implementation guidance related to these tangible property regulations, which allowed companies to file a tax accounting method change to deduct cost of removal expenditures on partial dispositions that were previously capitalized. In 2014, Alliant Energy, IPL and WPL implemented this tax accounting method change, which will result in the inclusion of additional tax deductions on Alliant Energy’s U.S. federal income tax return for the calendar year 2014. In 2013, the IRS also issued guidance that clarified acceptable units of property to be used when assessing whether costs incurred for electric generation projects may be deducted as repair expenditures or if they must be capitalized. After assessing the guidance, Alliant Energy, IPL and WPL decided in 2014 to implement the new units of property by filing a tax accounting method change as part of Alliant Energy’s U.S. federal income tax return for the calendar year 2013. IPL currently anticipates refunding its related current tax benefits from these two tax accounting method changes to its Iowa retail electric and gas customers in the future, and as a result, Alliant Energy and IPL recorded an increase of $75 million to IPL’s tax benefit riders regulatory liabilities and IPL’s tax-related regulatory assets in 2014. | ||||||||||||||||||||||||
Electric tax benefit rider - The IUB has approved an electric tax benefit rider proposed by IPL, which utilizes regulatory liabilities to credit bills of Iowa retail electric customers beginning in 2011 to help offset the impact of rate increases on such customers. Alliant Energy and IPL recognize an offsetting reduction to income tax expense for the after-tax amounts credited to IPL’s retail electric customers’ bills in Iowa, resulting in no impact to Alliant Energy’s and IPL’s net income from the electric tax benefit rider as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Credit to IPL’s Iowa retail electric customers’ bills with reduction to electric revenues | $85 | $79 | $83 | |||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 35 | 33 | 35 | |||||||||||||||||||||
Income tax benefit representing tax benefits realized from electric tax benefit rider | 50 | 46 | 48 | |||||||||||||||||||||
In December 2014, the IUB issued an order authorizing $75 million of regulatory liabilities from tax benefits to be credited to IPL’s retail electric customers’ bills in Iowa during 2015 through the electric tax benefit rider. | ||||||||||||||||||||||||
In 2013, the IUB authorized IPL to reduce the electric tax benefit rider billing credits on customers’ bills in 2013 and 2014 to recognize the revenue requirement impact of the changes in tax accounting methods. The revenue requirement adjustment resulted in increases to electric revenues in Alliant Energy’s and IPL’s income statements and was recognized through the energy adjustment clause as a reduction of the credits on IPL’s Iowa retail electric customers’ bills from the electric tax benefit rider as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Revenue requirement adjustment | $15 | $24 | ||||||||||||||||||||||
In December 2014, the IUB authorized IPL to reduce the $75 million of billing credits on customers’ bills by $15 million in 2015 to recognize the revenue requirement impact of the changes in tax accounting methods. | ||||||||||||||||||||||||
Gas tax benefit rider - The IUB has approved a gas tax benefit rider proposed by IPL, which utilizes approximately $12 million of regulatory liabilities annually to credit bills of Iowa retail gas customers beginning in January 2013 through December 2015 to help offset the impact of rate increases on such customers. Alliant Energy and IPL utilized gas tax benefit rider-related regulatory liabilities to credit IPL’s Iowa retail gas customers’ bills as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Credit to IPL’s Iowa retail gas customers’ bills with reduction to gas revenues | $12 | $11 | ||||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 5 | 4 | ||||||||||||||||||||||
Income tax benefit representing tax benefits realized from gas tax benefit rider | 7 | 7 | ||||||||||||||||||||||
Refer to Note 11 for additional details regarding IPL’s tax benefit riders. | ||||||||||||||||||||||||
Energy efficiency cost recovery - WPL and IPL collect revenues from their customers to offset certain expenditures incurred by WPL and IPL for energy efficiency programs, including state mandated programs and Shared Savings programs. Differences between forecasted costs used to set rates and actual costs for these programs are deferred as a regulatory asset or regulatory liability. The July 2012 PSCW order for WPL’s 2013/2014 test period electric and gas base rate case authorized higher energy efficiency cost recovery amortizations for 2014, which contributed to the increase in Alliant Energy’s and WPL’s “Energy efficiency cost recovery” regulatory liabilities. | ||||||||||||||||||||||||
IPL’s electric transmission cost recovery - Refer to Note 1(g) for additional details of IPL’s electric transmission service cost recovery mechanism. | ||||||||||||||||||||||||
Commodity cost recovery - Refer to Note 1(g) for additional details of IPL’s and WPL’s commodity cost recovery mechanisms. | ||||||||||||||||||||||||
IPL’s electric transmission assets sale - In 2007, IPL completed the sale of its electric transmission assets to ITC and recognized a gain based on the terms of the agreement. Upon closing of the sale, IPL established a regulatory liability pursuant to conditions established by the IUB when it allowed the transaction to proceed. The regulatory liability represented the present value of IPL’s obligation to refund to its customers payments beginning in the year IPL’s customers experience an increase in rates related to the transmission charges assessed by ITC. The regulatory liability accrues interest at the monthly average U.S. Treasury rate for three-year maturities. | ||||||||||||||||||||||||
In 2009, the IUB issued an order authorizing IPL to use a portion of this regulatory liability to reduce Iowa retail electric customers’ rates by $12 million for the period from July 2009 through February 2010 with billing credits included in the monthly energy adjustment clause. In 2010, the IUB issued an order authorizing IPL to use a portion of this regulatory liability to offset electric transmission service costs expected to be billed to IPL by ITC in 2010 related to ITC’s 2008 transmission revenue adjustment. IPL utilized $41 million of this regulatory liability over a five-year period ending December 2014 to offset the Iowa retail portion of transmission costs billed to IPL by ITC in 2010 related to ITC’s 2008 transmission revenue adjustment. As a result, IPL amortized $8 million of this regulatory liability annually, with an equal and offsetting amount of amortization for IPL’s regulatory asset related to electric transmission service costs. | ||||||||||||||||||||||||
Utility Rate Cases - | ||||||||||||||||||||||||
WPL’s Wisconsin Retail Electric and Gas Rate Case (2015/2016 Test Period) - In July 2014, WPL received an order from the PSCW authorizing WPL to maintain retail electric base rates at their current levels through the end of 2016. The retail electric base rate case included a return of and a return on costs for emission controls projects at Columbia Units 1 and 2 and Edgewater Unit 5, generation performance and reliability improvements at Columbia Units 1 and 2, other ongoing capital expenditures, and an increase in electric transmission service expense. The additional revenue requirement for these cost increases was offset by the impact of changes in the amortization of regulatory liabilities associated with energy efficiency cost recoveries and increased sales volumes. The order also authorizes WPL to implement a $5 million decrease in annual base rates for its retail gas customers effective January 1, 2015 followed by a freeze of such gas base rates through the end of 2016. The order included provisions that require WPL to defer a portion of its earnings if its annual regulatory return on common equity exceeds certain levels during 2015 or 2016 and allows WPL to request a change in retail base rates during this period if its annual regulatory return on common equity falls below a certain level. | ||||||||||||||||||||||||
WPL’s Wisconsin Retail Electric and Gas Rate Case (2013/2014 Test Period) - In July 2012, WPL received an order from the PSCW authorizing WPL to implement a decrease in annual retail gas base rates of $13 million effective January 1, 2013, followed by a freeze of such gas base rates through the end of 2014. The order also authorized WPL to maintain retail electric base rates at their current levels through the end of 2014. The order included a provision that required WPL to defer a portion of its earnings if its annual regulatory return on common equity exceeds certain levels during 2013 or 2014. As of December 31, 2014, Alliant Energy and WPL deferred $9 million of WPL’s 2013 and 2014 earnings for these provisions, which is included in “Other” in Alliant Energy’s and WPL’s regulatory liabilities tables above. | ||||||||||||||||||||||||
IPL’s Iowa Retail Gas Rate Case (2011 Test Year) - In May 2012, IPL filed a request with the IUB to increase annual rates for its Iowa retail gas customers based on a 2011 historical test year as adjusted for certain known and measurable changes occurring up to 12 months after the commencement of the proceeding. IPL’s request included a proposal to utilize regulatory liabilities to credit bills of Iowa retail gas customers to help mitigate the impact of the proposed final rate increase on such customers. IPL proposed to reduce customer bills utilizing a gas tax benefit rider over a three-year period by approximately $36 million in aggregate. In conjunction with the filing, IPL implemented an interim retail gas rate increase of $9 million, or approximately 3%, on an annual basis, effective June 4, 2012, without regulatory review and subject to refund pending determination of final rates from the request. In 2012, Alliant Energy and IPL recorded $5 million in gas revenues from IPL’s Iowa retail gas customers related to the interim retail gas rate increase. In November 2012, the IUB approved a settlement agreement related to IPL’s request, resulting in a final increase in annual rates for IPL’s Iowa retail gas customers of $11 million, or approximately 4%, effective January 10, 2013. The parties to the settlement agreement and the IUB also agreed to IPL’s proposed gas tax benefit rider. Refer to “Regulatory Liabilities” above for additional details on IPL’s gas tax benefit rider. | ||||||||||||||||||||||||
IPL’s Iowa Retail Electric Rate Settlement Agreement - In September 2014, the IUB approved a settlement agreement related to rates charged to IPL’s Iowa retail electric customers. The settlement agreement extends IPL’s Iowa retail electric base rates authorized in its 2009 test year rate case through 2016 and provides targeted retail electric customer billing credits of $105 million in aggregate, beginning May 2014 as follows (in millions): | ||||||||||||||||||||||||
2014 | 2015 | 2016 | ||||||||||||||||||||||
Billing credits to reduce retail electric customers’ bills | $70 | $25 | $10 | |||||||||||||||||||||
In 2014, IPL recorded $72 million of such retail electric customer billing credits. IPL will make adjustments to future billing credits to provide aggregate retail electric customer billing credits of $105 million in aggregate. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2015 Test Year) - In December 2014, WPL received an order from the PSCW authorizing an annual retail electric rate increase of $39 million, or approximately 4%, effective January 1, 2015. The increase includes $39 million of anticipated increases in retail electric fuel-related costs in 2015 attributable to $25 million for higher retail electric fuel-related costs per MWh anticipated in 2015 and $14 million from the impact of increased sales volumes approved in the retail electric base rate case for 2015. WPL’s 2015 fuel-related costs will be subject to deferral if they fall outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Deferral of under-collections are reduced to the extent WPL’s actual return on common equity exceeds the most recently authorized return on common equity. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2014 Test Year) - In 2013, WPL received an order from the PSCW authorizing an annual retail electric rate increase of $19 million, or approximately 2%, effective January 1, 2014 to reflect anticipated increases in retail electric fuel-related costs in 2014 compared to the fuel-related cost estimates used to determine rates for 2013. WPL’s 2014 fuel-related costs were subject to deferral if they fell outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Retail fuel-related costs incurred by WPL through December 31, 2014 were higher than fuel-related costs used to determine rates for such period resulting in an under-collection of fuel-related costs for 2014 of $33 million (including $28 million outside the approved range for 2014). As of December 31, 2014, Alliant Energy and WPL recorded $28 million in “Regulatory assets” on their balance sheets for the fuel-related costs incurred in 2014 that fell outside the PSCW approved bandwidth. The $28 million of deferred fuel-related costs is included in “Commodity cost recovery” in Alliant Energy’s and WPL’s regulatory assets tables above. Beginning in 2015, the regulatory asset will accrue interest at WPL’s PSCW authorized short-term debt rate. WPL currently expects to file a fuel reconciliation application with the PSCW in the first quarter of 2015 to seek recovery of these deferred fuel-related costs. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2013 Test Year) - In 2012, WPL received an order from the PSCW authorizing an annual retail electric rate decrease of $29 million, or approximately 3%, effective January 1, 2013 to reflect anticipated decreases in retail electric fuel-related costs in 2013 compared to the fuel-related cost estimates used to determine rates for 2012. WPL’s 2013 fuel-related costs were subject to deferral if they fell outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Retail fuel-related costs incurred by WPL for 2013 did not fall outside of the bandwidth. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2012 Test Year) - In 2011, WPL received an order from the PSCW authorizing an annual retail electric rate increase of $4 million, effective January 1, 2012 to reflect anticipated increases in retail fuel-related costs in 2012 compared to the fuel-related cost estimates used to determine rates for 2011. The 2012 fuel-related costs were subject to deferral if they fell outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Retail fuel-related costs incurred by WPL in 2012 were lower than retail fuel-related costs used to determine rates for such period resulting in an over-collection of fuel-related costs for 2012 of approximately $17 million (including $11 million outside the approved range for 2012). In 2013, WPL received an order from the PSCW to refund $12 million, including interest, to its retail electric customers for these over-collections, which WPL completed in 2013. | ||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Regulatory Matters [Line Items] | ||||||||||||||||||||||||
Regulatory Matters | REGULATORY MATTERS | |||||||||||||||||||||||
Regulatory Assets - At December 31, regulatory assets were comprised of the following items (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Tax-related | $955.30 | $829.70 | $928.00 | $798.60 | $27.30 | $31.10 | ||||||||||||||||||
Pension and OPEB costs | 570.2 | 355.3 | 287.9 | 174.2 | 282.3 | 181.1 | ||||||||||||||||||
AROs | 73.7 | 65.7 | 41.4 | 36.7 | 32.3 | 29 | ||||||||||||||||||
Derivatives | 46.9 | 21.1 | 28 | 5.9 | 18.9 | 15.2 | ||||||||||||||||||
Commodity cost recovery | 31.1 | 2 | 0.4 | 0.7 | 30.7 | 1.3 | ||||||||||||||||||
Emission allowances | 27.4 | 30 | 27.4 | 30 | — | — | ||||||||||||||||||
Debt redemption costs | 16.1 | 17.9 | 10.9 | 12.2 | 5.2 | 5.7 | ||||||||||||||||||
Environmental-related costs | 16 | 25 | 11.5 | 21 | 4.5 | 4 | ||||||||||||||||||
Other | 47 | 66.5 | 22.4 | 34.2 | 24.6 | 32.3 | ||||||||||||||||||
$1,783.70 | $1,413.20 | $1,357.90 | $1,113.50 | $425.80 | $299.70 | |||||||||||||||||||
A portion of the regulatory assets in the above table are not earning a return. These regulatory assets are expected to be recovered from customers in future rates; however, the respective carrying costs of these assets are not expected to be recovered from customers in future rates. At December 31, 2014, IPL and WPL had $26 million and $10 million, respectively, of regulatory assets representing past expenditures that were not earning a return. IPL’s regulatory assets that were not earning a return consisted primarily of clean air compliance projects and debt redemption costs. WPL’s regulatory assets that were not earning a return consisted primarily of amounts related to the wholesale portion of under-collected fuel-related costs, which is discussed in Note 1(g), and environmental-related costs. The other regulatory assets reported in the above table either earn a return or the cash has not yet been expended, in which case the assets are offset by liabilities that also do not incur a carrying cost. | ||||||||||||||||||||||||
Tax-related - IPL and WPL record regulatory assets for certain temporary differences (primarily related to utility property, plant and equipment at IPL) that result in a decrease in current rates charged to customers and an increase in future rates charged to customers based on the timing of income tax expense that is used to determine such rates. These temporary differences include the impacts of qualifying deductions for repairs expenditures and allocation of mixed service costs, and Iowa accelerated tax depreciation, which all contribute to lower current income tax expense during the first part of an asset’s useful life and higher current tax expense during the last part of an asset’s useful life. These regulatory assets will be recovered from customers in the future when these temporary differences reverse resulting in additional current income tax expense used to determine customers’ rates. During 2014, Alliant Energy’s and IPL’s tax-related regulatory assets increased primarily due to property-related differences for qualifying repair expenditures, allocation of mixed service costs and tax accounting method changes in 2014 for cost of removal expenditures and repair expenditures for electric generation property at IPL. The increase related to the tax accounting method changes was offset by increased regulatory liabilities as discussed below in “IPL’s tax benefit riders.” | ||||||||||||||||||||||||
Pension and other postretirement benefits costs - The IUB and the PSCW have authorized IPL and WPL to record the retail portion of their respective previously unrecognized net actuarial gains and losses, and prior service costs and credits, as regulatory assets in lieu of AOCL on the balance sheets, as these amounts are expected to be recovered in future rates. IPL and WPL also recognize the wholesale portion of their previously unrecognized net actuarial gains and losses, and prior service costs and credits, as regulatory assets on the balance sheets because these costs are expected to be recovered in rates in future periods under the formula rate structure. These regulatory assets will be increased or decreased as the net actuarial gains or losses, and prior service costs or credits, are subsequently amortized and recognized as a component of net periodic benefit costs. Regulatory assets are also increased or decreased as a result of the annual defined benefit plan measurement process. During 2014, Alliant Energy’s, IPL’s and WPL’s pension and OPEB costs regulatory assets increased due to an increase in unrecognized net actuarial losses caused by lower discount rates and a change in life expectancy assumptions used in the annual defined benefit plan measurement process as of December 31, 2014 compared to December 31, 2013. | ||||||||||||||||||||||||
Pension and OPEB costs are included within the recoverable cost of service component of rates charged to IPL’s and WPL’s customers. The recoverable costs included in customers’ rates are based upon pension and OPEB costs determined in accordance with GAAP and are calculated using different methods for the various regulatory jurisdictions in which IPL and WPL operate. The IUB authorized IPL in its 2009 test year Iowa retail electric rate case order to recover from its retail electric customers in Iowa an allocated portion of annual costs equal to a two-year simple average of actual costs incurred during its test year (2009) and an estimate of costs for its forward-looking post-test year (2010). The PSCW authorized WPL in its Wisconsin retail rate cases for the 2013/2014 and 2015/2016 test periods to recover from its electric and gas retail customers an estimated allocated portion of annual costs equal to the costs expected to be incurred during the respective test year periods. IPL and WPL are authorized to recover from their wholesale customers an allocated portion of actual pension costs incurred each year. In accordance with FERC-approved formula rates, any over- or under-collection of these pension costs each year are refunded to or recovered from customers through subsequent changes to wholesale customer rates. Refer to Note 12(a) for additional details regarding pension and OPEB costs. | ||||||||||||||||||||||||
AROs - Alliant Energy, IPL and WPL believe it is probable that any differences between expenses accrued for legal AROs related to their regulated operations and expenses recovered currently in rates will be recoverable in future rates, and are deferring the differences as regulatory assets. Refer to Note 13 for additional details of AROs. | ||||||||||||||||||||||||
Derivatives - In accordance with IPL’s and WPL’s fuel and natural gas recovery mechanisms, prudently incurred costs from derivative instruments are recoverable from customers in the future after any losses are realized and gains from derivative instruments are refundable to customers in the future after any gains are realized. Based on these recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/liabilities on the balance sheets. Refer to Note 15 for additional details of derivative assets and derivative liabilities. | ||||||||||||||||||||||||
Commodity cost recovery - Refer to Note 1(g) for additional details of IPL’s and WPL’s cost recovery mechanisms, and “WPL’s Retail Fuel-related Rate Filing (2014 Test Year)” below for discussion of the increase in Alliant Energy’s and WPL’s commodity cost recovery regulatory assets in 2014. | ||||||||||||||||||||||||
Emission allowances - IPL entered into forward contracts in 2007 to purchase SO2 emission allowances with vintage years of 2014 through 2017 from various counterparties for $34 million to meet future CAIR emission reduction standards. Any SO2 emission allowances acquired under these forward contracts could be used to meet requirements under the existing Acid Rain program regulations or the more stringent CAIR emission reduction standards but are not eligible to be used for compliance requirements under CSAPR. In 2011, the EPA issued CSAPR to replace CAIR with an anticipated effective date in 2012. As a result of the issuance of CSAPR, Alliant Energy and IPL concluded in 2011 that the allowances to be acquired under these forward contracts would not be needed by IPL to comply with expected environmental regulations in the future. The value of these allowances was nominal, which was significantly below the $34 million contract price for these allowances. As a result, Alliant Energy and IPL recognized charges of $34 million for these forward contracts in 2011 with an offsetting obligation recorded in other liabilities. Alliant Energy and IPL concluded that $30 million of the charges are probable of recovery from IPL’s customers, and therefore, were recorded to regulatory assets in 2011. The current value of these allowances continues to be nominal and significantly below the $34 million contract price for these allowances. Alliant Energy and IPL believe the unamortized balance of this regulatory asset is probable of future recovery. | ||||||||||||||||||||||||
Debt redemption costs - For debt retired early with no subsequent re-issuance, IPL and WPL defer any debt repayment premiums and unamortized debt issuance costs and discounts as regulatory assets. These regulatory assets are amortized over the remaining original life of the debt retired early. Debt repayment premiums and other losses resulting from the refinancing of debt by IPL and WPL are deferred as regulatory assets and amortized over the life of the new debt issued. | ||||||||||||||||||||||||
Environmental-related costs - The IUB has permitted IPL to recover prudently incurred costs by allowing a representative level of MGP costs in the recoverable cost of service component of rates, as determined in its most recent retail gas rate case. Under the current rate-making treatment approved by the PSCW, the MGP expenditures of WPL are deferred and collected from retail gas customers over a five-year period after new rates are implemented. Regulatory assets recorded by IPL and WPL reflect the probable future rate recovery of MGP expenditures. Refer to Note 16(e) for additional details of environmental-related MGP costs. | ||||||||||||||||||||||||
Other - Alliant Energy, IPL and WPL assess whether IPL’s and WPL’s regulatory assets are probable of future recovery by considering factors such as applicable regulations, recent orders by the applicable regulatory agencies, historical treatment of similar costs by the applicable regulatory agencies and regulatory environment changes. Based on these assessments, Alliant Energy, IPL and WPL believe the regulatory assets recognized as of December 31, 2014 in the above table are probable of future recovery. However, no assurance can be made that IPL and WPL will recover all of these regulatory assets in future rates. If future recovery of a regulatory asset ceases to be probable, the regulatory asset will be charged to expense in the period in which future recovery ceases to be probable. | ||||||||||||||||||||||||
Based on the PSCW’s July 2012 order related to WPL’s 2013/2014 test period Wisconsin retail electric and gas rate case, WPL was authorized to recover previously incurred costs associated with the acquisition of a 25% ownership interest in Edgewater Unit 5 and proposed emission controls projects. As a result, Alliant Energy and WPL recorded a $5 million increase to regulatory assets, and a $5 million credit to “Utility - Other operation and maintenance” in their income statements in 2012. | ||||||||||||||||||||||||
Regulatory Liabilities - At December 31, regulatory liabilities were comprised of the following items (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cost of removal obligations | $421.70 | $418.90 | $279.10 | $277.70 | $142.60 | $141.20 | ||||||||||||||||||
IPL’s tax benefit riders | 243 | 265.4 | 243 | 265.4 | — | — | ||||||||||||||||||
Energy efficiency cost recovery | 64.3 | 52.7 | — | 9.3 | 64.3 | 43.4 | ||||||||||||||||||
IPL’s electric transmission cost recovery | 19.4 | 14.6 | 19.4 | 14.6 | — | — | ||||||||||||||||||
Commodity cost recovery | 15.4 | 7.5 | 15.1 | 5.5 | 0.3 | 2 | ||||||||||||||||||
IPL’s electric transmission assets sale | 11.3 | 21.6 | 11.3 | 21.6 | — | — | ||||||||||||||||||
Other | 46.1 | 40.8 | 15.6 | 20.8 | 30.5 | 20 | ||||||||||||||||||
$821.20 | $821.50 | $583.50 | $614.90 | $237.70 | $206.60 | |||||||||||||||||||
Regulatory liabilities related to cost of removal obligations, to the extent expensed through depreciation rates, reduce rate base. A significant portion of the remaining regulatory liabilities are not used to reduce rate base in the revenue requirement calculations utilized in IPL’s and WPL’s respective rate proceedings. | ||||||||||||||||||||||||
Cost of removal obligations - Alliant Energy, IPL and WPL collect in rates future removal costs for many assets that do not have associated legal AROs. Alliant Energy, IPL and WPL record a regulatory liability for the estimated amounts they have collected in rates for these future removal costs less amounts spent on removal activities. | ||||||||||||||||||||||||
IPL’s tax benefit riders - IPL’s tax benefit riders utilize regulatory liabilities to credit bills of IPL’s Iowa retail electric and gas customers to help offset the impact of rate increases on such customers. These regulatory liabilities are related to tax benefits from tax accounting method changes for repairs expenditures, allocation of mixed service costs, allocation of insurance proceeds from floods in 2008, and cost of removal expenditures. In 2014, Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by ($22) million as follows (in millions): | ||||||||||||||||||||||||
Electric tax benefit rider credits | ($85 | ) | ||||||||||||||||||||||
Gas tax benefit rider credits | (12 | ) | ||||||||||||||||||||||
Tax accounting method changes | 75 | |||||||||||||||||||||||
($22 | ) | |||||||||||||||||||||||
In 2013, the U.S. Department of the Treasury issued tangible property regulations clarifying the tax treatment of costs incurred to acquire, maintain or improve tangible property and to retire and remove depreciable property. The regulations clarified the ability to deduct cost of removal expenditures on partial dispositions of assets. In 2014, the IRS issued implementation guidance related to these tangible property regulations, which allowed companies to file a tax accounting method change to deduct cost of removal expenditures on partial dispositions that were previously capitalized. In 2014, Alliant Energy, IPL and WPL implemented this tax accounting method change, which will result in the inclusion of additional tax deductions on Alliant Energy’s U.S. federal income tax return for the calendar year 2014. In 2013, the IRS also issued guidance that clarified acceptable units of property to be used when assessing whether costs incurred for electric generation projects may be deducted as repair expenditures or if they must be capitalized. After assessing the guidance, Alliant Energy, IPL and WPL decided in 2014 to implement the new units of property by filing a tax accounting method change as part of Alliant Energy’s U.S. federal income tax return for the calendar year 2013. IPL currently anticipates refunding its related current tax benefits from these two tax accounting method changes to its Iowa retail electric and gas customers in the future, and as a result, Alliant Energy and IPL recorded an increase of $75 million to IPL’s tax benefit riders regulatory liabilities and IPL’s tax-related regulatory assets in 2014. | ||||||||||||||||||||||||
Electric tax benefit rider - The IUB has approved an electric tax benefit rider proposed by IPL, which utilizes regulatory liabilities to credit bills of Iowa retail electric customers beginning in 2011 to help offset the impact of rate increases on such customers. Alliant Energy and IPL recognize an offsetting reduction to income tax expense for the after-tax amounts credited to IPL’s retail electric customers’ bills in Iowa, resulting in no impact to Alliant Energy’s and IPL’s net income from the electric tax benefit rider as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Credit to IPL’s Iowa retail electric customers’ bills with reduction to electric revenues | $85 | $79 | $83 | |||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 35 | 33 | 35 | |||||||||||||||||||||
Income tax benefit representing tax benefits realized from electric tax benefit rider | 50 | 46 | 48 | |||||||||||||||||||||
In December 2014, the IUB issued an order authorizing $75 million of regulatory liabilities from tax benefits to be credited to IPL’s retail electric customers’ bills in Iowa during 2015 through the electric tax benefit rider. | ||||||||||||||||||||||||
In 2013, the IUB authorized IPL to reduce the electric tax benefit rider billing credits on customers’ bills in 2013 and 2014 to recognize the revenue requirement impact of the changes in tax accounting methods. The revenue requirement adjustment resulted in increases to electric revenues in Alliant Energy’s and IPL’s income statements and was recognized through the energy adjustment clause as a reduction of the credits on IPL’s Iowa retail electric customers’ bills from the electric tax benefit rider as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Revenue requirement adjustment | $15 | $24 | ||||||||||||||||||||||
In December 2014, the IUB authorized IPL to reduce the $75 million of billing credits on customers’ bills by $15 million in 2015 to recognize the revenue requirement impact of the changes in tax accounting methods. | ||||||||||||||||||||||||
Gas tax benefit rider - The IUB has approved a gas tax benefit rider proposed by IPL, which utilizes approximately $12 million of regulatory liabilities annually to credit bills of Iowa retail gas customers beginning in January 2013 through December 2015 to help offset the impact of rate increases on such customers. Alliant Energy and IPL utilized gas tax benefit rider-related regulatory liabilities to credit IPL’s Iowa retail gas customers’ bills as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Credit to IPL’s Iowa retail gas customers’ bills with reduction to gas revenues | $12 | $11 | ||||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 5 | 4 | ||||||||||||||||||||||
Income tax benefit representing tax benefits realized from gas tax benefit rider | 7 | 7 | ||||||||||||||||||||||
Refer to Note 11 for additional details regarding IPL’s tax benefit riders. | ||||||||||||||||||||||||
Energy efficiency cost recovery - WPL and IPL collect revenues from their customers to offset certain expenditures incurred by WPL and IPL for energy efficiency programs, including state mandated programs and Shared Savings programs. Differences between forecasted costs used to set rates and actual costs for these programs are deferred as a regulatory asset or regulatory liability. The July 2012 PSCW order for WPL’s 2013/2014 test period electric and gas base rate case authorized higher energy efficiency cost recovery amortizations for 2014, which contributed to the increase in Alliant Energy’s and WPL’s “Energy efficiency cost recovery” regulatory liabilities. | ||||||||||||||||||||||||
IPL’s electric transmission cost recovery - Refer to Note 1(g) for additional details of IPL’s electric transmission service cost recovery mechanism. | ||||||||||||||||||||||||
Commodity cost recovery - Refer to Note 1(g) for additional details of IPL’s and WPL’s commodity cost recovery mechanisms. | ||||||||||||||||||||||||
IPL’s electric transmission assets sale - In 2007, IPL completed the sale of its electric transmission assets to ITC and recognized a gain based on the terms of the agreement. Upon closing of the sale, IPL established a regulatory liability pursuant to conditions established by the IUB when it allowed the transaction to proceed. The regulatory liability represented the present value of IPL’s obligation to refund to its customers payments beginning in the year IPL’s customers experience an increase in rates related to the transmission charges assessed by ITC. The regulatory liability accrues interest at the monthly average U.S. Treasury rate for three-year maturities. | ||||||||||||||||||||||||
In 2009, the IUB issued an order authorizing IPL to use a portion of this regulatory liability to reduce Iowa retail electric customers’ rates by $12 million for the period from July 2009 through February 2010 with billing credits included in the monthly energy adjustment clause. In 2010, the IUB issued an order authorizing IPL to use a portion of this regulatory liability to offset electric transmission service costs expected to be billed to IPL by ITC in 2010 related to ITC’s 2008 transmission revenue adjustment. IPL utilized $41 million of this regulatory liability over a five-year period ending December 2014 to offset the Iowa retail portion of transmission costs billed to IPL by ITC in 2010 related to ITC’s 2008 transmission revenue adjustment. As a result, IPL amortized $8 million of this regulatory liability annually, with an equal and offsetting amount of amortization for IPL’s regulatory asset related to electric transmission service costs. | ||||||||||||||||||||||||
Utility Rate Cases - | ||||||||||||||||||||||||
WPL’s Wisconsin Retail Electric and Gas Rate Case (2015/2016 Test Period) - In July 2014, WPL received an order from the PSCW authorizing WPL to maintain retail electric base rates at their current levels through the end of 2016. The retail electric base rate case included a return of and a return on costs for emission controls projects at Columbia Units 1 and 2 and Edgewater Unit 5, generation performance and reliability improvements at Columbia Units 1 and 2, other ongoing capital expenditures, and an increase in electric transmission service expense. The additional revenue requirement for these cost increases was offset by the impact of changes in the amortization of regulatory liabilities associated with energy efficiency cost recoveries and increased sales volumes. The order also authorizes WPL to implement a $5 million decrease in annual base rates for its retail gas customers effective January 1, 2015 followed by a freeze of such gas base rates through the end of 2016. The order included provisions that require WPL to defer a portion of its earnings if its annual regulatory return on common equity exceeds certain levels during 2015 or 2016 and allows WPL to request a change in retail base rates during this period if its annual regulatory return on common equity falls below a certain level. | ||||||||||||||||||||||||
WPL’s Wisconsin Retail Electric and Gas Rate Case (2013/2014 Test Period) - In July 2012, WPL received an order from the PSCW authorizing WPL to implement a decrease in annual retail gas base rates of $13 million effective January 1, 2013, followed by a freeze of such gas base rates through the end of 2014. The order also authorized WPL to maintain retail electric base rates at their current levels through the end of 2014. The order included a provision that required WPL to defer a portion of its earnings if its annual regulatory return on common equity exceeds certain levels during 2013 or 2014. As of December 31, 2014, Alliant Energy and WPL deferred $9 million of WPL’s 2013 and 2014 earnings for these provisions, which is included in “Other” in Alliant Energy’s and WPL’s regulatory liabilities tables above. | ||||||||||||||||||||||||
IPL’s Iowa Retail Gas Rate Case (2011 Test Year) - In May 2012, IPL filed a request with the IUB to increase annual rates for its Iowa retail gas customers based on a 2011 historical test year as adjusted for certain known and measurable changes occurring up to 12 months after the commencement of the proceeding. IPL’s request included a proposal to utilize regulatory liabilities to credit bills of Iowa retail gas customers to help mitigate the impact of the proposed final rate increase on such customers. IPL proposed to reduce customer bills utilizing a gas tax benefit rider over a three-year period by approximately $36 million in aggregate. In conjunction with the filing, IPL implemented an interim retail gas rate increase of $9 million, or approximately 3%, on an annual basis, effective June 4, 2012, without regulatory review and subject to refund pending determination of final rates from the request. In 2012, Alliant Energy and IPL recorded $5 million in gas revenues from IPL’s Iowa retail gas customers related to the interim retail gas rate increase. In November 2012, the IUB approved a settlement agreement related to IPL’s request, resulting in a final increase in annual rates for IPL’s Iowa retail gas customers of $11 million, or approximately 4%, effective January 10, 2013. The parties to the settlement agreement and the IUB also agreed to IPL’s proposed gas tax benefit rider. Refer to “Regulatory Liabilities” above for additional details on IPL’s gas tax benefit rider. | ||||||||||||||||||||||||
IPL’s Iowa Retail Electric Rate Settlement Agreement - In September 2014, the IUB approved a settlement agreement related to rates charged to IPL’s Iowa retail electric customers. The settlement agreement extends IPL’s Iowa retail electric base rates authorized in its 2009 test year rate case through 2016 and provides targeted retail electric customer billing credits of $105 million in aggregate, beginning May 2014 as follows (in millions): | ||||||||||||||||||||||||
2014 | 2015 | 2016 | ||||||||||||||||||||||
Billing credits to reduce retail electric customers’ bills | $70 | $25 | $10 | |||||||||||||||||||||
In 2014, IPL recorded $72 million of such retail electric customer billing credits. IPL will make adjustments to future billing credits to provide aggregate retail electric customer billing credits of $105 million in aggregate. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2015 Test Year) - In December 2014, WPL received an order from the PSCW authorizing an annual retail electric rate increase of $39 million, or approximately 4%, effective January 1, 2015. The increase includes $39 million of anticipated increases in retail electric fuel-related costs in 2015 attributable to $25 million for higher retail electric fuel-related costs per MWh anticipated in 2015 and $14 million from the impact of increased sales volumes approved in the retail electric base rate case for 2015. WPL’s 2015 fuel-related costs will be subject to deferral if they fall outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Deferral of under-collections are reduced to the extent WPL’s actual return on common equity exceeds the most recently authorized return on common equity. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2014 Test Year) - In 2013, WPL received an order from the PSCW authorizing an annual retail electric rate increase of $19 million, or approximately 2%, effective January 1, 2014 to reflect anticipated increases in retail electric fuel-related costs in 2014 compared to the fuel-related cost estimates used to determine rates for 2013. WPL’s 2014 fuel-related costs were subject to deferral if they fell outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Retail fuel-related costs incurred by WPL through December 31, 2014 were higher than fuel-related costs used to determine rates for such period resulting in an under-collection of fuel-related costs for 2014 of $33 million (including $28 million outside the approved range for 2014). As of December 31, 2014, Alliant Energy and WPL recorded $28 million in “Regulatory assets” on their balance sheets for the fuel-related costs incurred in 2014 that fell outside the PSCW approved bandwidth. The $28 million of deferred fuel-related costs is included in “Commodity cost recovery” in Alliant Energy’s and WPL’s regulatory assets tables above. Beginning in 2015, the regulatory asset will accrue interest at WPL’s PSCW authorized short-term debt rate. WPL currently expects to file a fuel reconciliation application with the PSCW in the first quarter of 2015 to seek recovery of these deferred fuel-related costs. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2013 Test Year) - In 2012, WPL received an order from the PSCW authorizing an annual retail electric rate decrease of $29 million, or approximately 3%, effective January 1, 2013 to reflect anticipated decreases in retail electric fuel-related costs in 2013 compared to the fuel-related cost estimates used to determine rates for 2012. WPL’s 2013 fuel-related costs were subject to deferral if they fell outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Retail fuel-related costs incurred by WPL for 2013 did not fall outside of the bandwidth. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2012 Test Year) - In 2011, WPL received an order from the PSCW authorizing an annual retail electric rate increase of $4 million, effective January 1, 2012 to reflect anticipated increases in retail fuel-related costs in 2012 compared to the fuel-related cost estimates used to determine rates for 2011. The 2012 fuel-related costs were subject to deferral if they fell outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Retail fuel-related costs incurred by WPL in 2012 were lower than retail fuel-related costs used to determine rates for such period resulting in an over-collection of fuel-related costs for 2012 of approximately $17 million (including $11 million outside the approved range for 2012). In 2013, WPL received an order from the PSCW to refund $12 million, including interest, to its retail electric customers for these over-collections, which WPL completed in 2013. | ||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Regulatory Matters [Line Items] | ||||||||||||||||||||||||
Regulatory Matters | REGULATORY MATTERS | |||||||||||||||||||||||
Regulatory Assets - At December 31, regulatory assets were comprised of the following items (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Tax-related | $955.30 | $829.70 | $928.00 | $798.60 | $27.30 | $31.10 | ||||||||||||||||||
Pension and OPEB costs | 570.2 | 355.3 | 287.9 | 174.2 | 282.3 | 181.1 | ||||||||||||||||||
AROs | 73.7 | 65.7 | 41.4 | 36.7 | 32.3 | 29 | ||||||||||||||||||
Derivatives | 46.9 | 21.1 | 28 | 5.9 | 18.9 | 15.2 | ||||||||||||||||||
Commodity cost recovery | 31.1 | 2 | 0.4 | 0.7 | 30.7 | 1.3 | ||||||||||||||||||
Emission allowances | 27.4 | 30 | 27.4 | 30 | — | — | ||||||||||||||||||
Debt redemption costs | 16.1 | 17.9 | 10.9 | 12.2 | 5.2 | 5.7 | ||||||||||||||||||
Environmental-related costs | 16 | 25 | 11.5 | 21 | 4.5 | 4 | ||||||||||||||||||
Other | 47 | 66.5 | 22.4 | 34.2 | 24.6 | 32.3 | ||||||||||||||||||
$1,783.70 | $1,413.20 | $1,357.90 | $1,113.50 | $425.80 | $299.70 | |||||||||||||||||||
A portion of the regulatory assets in the above table are not earning a return. These regulatory assets are expected to be recovered from customers in future rates; however, the respective carrying costs of these assets are not expected to be recovered from customers in future rates. At December 31, 2014, IPL and WPL had $26 million and $10 million, respectively, of regulatory assets representing past expenditures that were not earning a return. IPL’s regulatory assets that were not earning a return consisted primarily of clean air compliance projects and debt redemption costs. WPL’s regulatory assets that were not earning a return consisted primarily of amounts related to the wholesale portion of under-collected fuel-related costs, which is discussed in Note 1(g), and environmental-related costs. The other regulatory assets reported in the above table either earn a return or the cash has not yet been expended, in which case the assets are offset by liabilities that also do not incur a carrying cost. | ||||||||||||||||||||||||
Tax-related - IPL and WPL record regulatory assets for certain temporary differences (primarily related to utility property, plant and equipment at IPL) that result in a decrease in current rates charged to customers and an increase in future rates charged to customers based on the timing of income tax expense that is used to determine such rates. These temporary differences include the impacts of qualifying deductions for repairs expenditures and allocation of mixed service costs, and Iowa accelerated tax depreciation, which all contribute to lower current income tax expense during the first part of an asset’s useful life and higher current tax expense during the last part of an asset’s useful life. These regulatory assets will be recovered from customers in the future when these temporary differences reverse resulting in additional current income tax expense used to determine customers’ rates. During 2014, Alliant Energy’s and IPL’s tax-related regulatory assets increased primarily due to property-related differences for qualifying repair expenditures, allocation of mixed service costs and tax accounting method changes in 2014 for cost of removal expenditures and repair expenditures for electric generation property at IPL. The increase related to the tax accounting method changes was offset by increased regulatory liabilities as discussed below in “IPL’s tax benefit riders.” | ||||||||||||||||||||||||
Pension and other postretirement benefits costs - The IUB and the PSCW have authorized IPL and WPL to record the retail portion of their respective previously unrecognized net actuarial gains and losses, and prior service costs and credits, as regulatory assets in lieu of AOCL on the balance sheets, as these amounts are expected to be recovered in future rates. IPL and WPL also recognize the wholesale portion of their previously unrecognized net actuarial gains and losses, and prior service costs and credits, as regulatory assets on the balance sheets because these costs are expected to be recovered in rates in future periods under the formula rate structure. These regulatory assets will be increased or decreased as the net actuarial gains or losses, and prior service costs or credits, are subsequently amortized and recognized as a component of net periodic benefit costs. Regulatory assets are also increased or decreased as a result of the annual defined benefit plan measurement process. During 2014, Alliant Energy’s, IPL’s and WPL’s pension and OPEB costs regulatory assets increased due to an increase in unrecognized net actuarial losses caused by lower discount rates and a change in life expectancy assumptions used in the annual defined benefit plan measurement process as of December 31, 2014 compared to December 31, 2013. | ||||||||||||||||||||||||
Pension and OPEB costs are included within the recoverable cost of service component of rates charged to IPL’s and WPL’s customers. The recoverable costs included in customers’ rates are based upon pension and OPEB costs determined in accordance with GAAP and are calculated using different methods for the various regulatory jurisdictions in which IPL and WPL operate. The IUB authorized IPL in its 2009 test year Iowa retail electric rate case order to recover from its retail electric customers in Iowa an allocated portion of annual costs equal to a two-year simple average of actual costs incurred during its test year (2009) and an estimate of costs for its forward-looking post-test year (2010). The PSCW authorized WPL in its Wisconsin retail rate cases for the 2013/2014 and 2015/2016 test periods to recover from its electric and gas retail customers an estimated allocated portion of annual costs equal to the costs expected to be incurred during the respective test year periods. IPL and WPL are authorized to recover from their wholesale customers an allocated portion of actual pension costs incurred each year. In accordance with FERC-approved formula rates, any over- or under-collection of these pension costs each year are refunded to or recovered from customers through subsequent changes to wholesale customer rates. Refer to Note 12(a) for additional details regarding pension and OPEB costs. | ||||||||||||||||||||||||
AROs - Alliant Energy, IPL and WPL believe it is probable that any differences between expenses accrued for legal AROs related to their regulated operations and expenses recovered currently in rates will be recoverable in future rates, and are deferring the differences as regulatory assets. Refer to Note 13 for additional details of AROs. | ||||||||||||||||||||||||
Derivatives - In accordance with IPL’s and WPL’s fuel and natural gas recovery mechanisms, prudently incurred costs from derivative instruments are recoverable from customers in the future after any losses are realized and gains from derivative instruments are refundable to customers in the future after any gains are realized. Based on these recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/liabilities on the balance sheets. Refer to Note 15 for additional details of derivative assets and derivative liabilities. | ||||||||||||||||||||||||
Commodity cost recovery - Refer to Note 1(g) for additional details of IPL’s and WPL’s cost recovery mechanisms, and “WPL’s Retail Fuel-related Rate Filing (2014 Test Year)” below for discussion of the increase in Alliant Energy’s and WPL’s commodity cost recovery regulatory assets in 2014. | ||||||||||||||||||||||||
Emission allowances - IPL entered into forward contracts in 2007 to purchase SO2 emission allowances with vintage years of 2014 through 2017 from various counterparties for $34 million to meet future CAIR emission reduction standards. Any SO2 emission allowances acquired under these forward contracts could be used to meet requirements under the existing Acid Rain program regulations or the more stringent CAIR emission reduction standards but are not eligible to be used for compliance requirements under CSAPR. In 2011, the EPA issued CSAPR to replace CAIR with an anticipated effective date in 2012. As a result of the issuance of CSAPR, Alliant Energy and IPL concluded in 2011 that the allowances to be acquired under these forward contracts would not be needed by IPL to comply with expected environmental regulations in the future. The value of these allowances was nominal, which was significantly below the $34 million contract price for these allowances. As a result, Alliant Energy and IPL recognized charges of $34 million for these forward contracts in 2011 with an offsetting obligation recorded in other liabilities. Alliant Energy and IPL concluded that $30 million of the charges are probable of recovery from IPL’s customers, and therefore, were recorded to regulatory assets in 2011. The current value of these allowances continues to be nominal and significantly below the $34 million contract price for these allowances. Alliant Energy and IPL believe the unamortized balance of this regulatory asset is probable of future recovery. | ||||||||||||||||||||||||
Debt redemption costs - For debt retired early with no subsequent re-issuance, IPL and WPL defer any debt repayment premiums and unamortized debt issuance costs and discounts as regulatory assets. These regulatory assets are amortized over the remaining original life of the debt retired early. Debt repayment premiums and other losses resulting from the refinancing of debt by IPL and WPL are deferred as regulatory assets and amortized over the life of the new debt issued. | ||||||||||||||||||||||||
Environmental-related costs - The IUB has permitted IPL to recover prudently incurred costs by allowing a representative level of MGP costs in the recoverable cost of service component of rates, as determined in its most recent retail gas rate case. Under the current rate-making treatment approved by the PSCW, the MGP expenditures of WPL are deferred and collected from retail gas customers over a five-year period after new rates are implemented. Regulatory assets recorded by IPL and WPL reflect the probable future rate recovery of MGP expenditures. Refer to Note 16(e) for additional details of environmental-related MGP costs. | ||||||||||||||||||||||||
Other - Alliant Energy, IPL and WPL assess whether IPL’s and WPL’s regulatory assets are probable of future recovery by considering factors such as applicable regulations, recent orders by the applicable regulatory agencies, historical treatment of similar costs by the applicable regulatory agencies and regulatory environment changes. Based on these assessments, Alliant Energy, IPL and WPL believe the regulatory assets recognized as of December 31, 2014 in the above table are probable of future recovery. However, no assurance can be made that IPL and WPL will recover all of these regulatory assets in future rates. If future recovery of a regulatory asset ceases to be probable, the regulatory asset will be charged to expense in the period in which future recovery ceases to be probable. | ||||||||||||||||||||||||
Based on the PSCW’s July 2012 order related to WPL’s 2013/2014 test period Wisconsin retail electric and gas rate case, WPL was authorized to recover previously incurred costs associated with the acquisition of a 25% ownership interest in Edgewater Unit 5 and proposed emission controls projects. As a result, Alliant Energy and WPL recorded a $5 million increase to regulatory assets, and a $5 million credit to “Utility - Other operation and maintenance” in their income statements in 2012. | ||||||||||||||||||||||||
Regulatory Liabilities - At December 31, regulatory liabilities were comprised of the following items (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cost of removal obligations | $421.70 | $418.90 | $279.10 | $277.70 | $142.60 | $141.20 | ||||||||||||||||||
IPL’s tax benefit riders | 243 | 265.4 | 243 | 265.4 | — | — | ||||||||||||||||||
Energy efficiency cost recovery | 64.3 | 52.7 | — | 9.3 | 64.3 | 43.4 | ||||||||||||||||||
IPL’s electric transmission cost recovery | 19.4 | 14.6 | 19.4 | 14.6 | — | — | ||||||||||||||||||
Commodity cost recovery | 15.4 | 7.5 | 15.1 | 5.5 | 0.3 | 2 | ||||||||||||||||||
IPL’s electric transmission assets sale | 11.3 | 21.6 | 11.3 | 21.6 | — | — | ||||||||||||||||||
Other | 46.1 | 40.8 | 15.6 | 20.8 | 30.5 | 20 | ||||||||||||||||||
$821.20 | $821.50 | $583.50 | $614.90 | $237.70 | $206.60 | |||||||||||||||||||
Regulatory liabilities related to cost of removal obligations, to the extent expensed through depreciation rates, reduce rate base. A significant portion of the remaining regulatory liabilities are not used to reduce rate base in the revenue requirement calculations utilized in IPL’s and WPL’s respective rate proceedings. | ||||||||||||||||||||||||
Cost of removal obligations - Alliant Energy, IPL and WPL collect in rates future removal costs for many assets that do not have associated legal AROs. Alliant Energy, IPL and WPL record a regulatory liability for the estimated amounts they have collected in rates for these future removal costs less amounts spent on removal activities. | ||||||||||||||||||||||||
IPL’s tax benefit riders - IPL’s tax benefit riders utilize regulatory liabilities to credit bills of IPL’s Iowa retail electric and gas customers to help offset the impact of rate increases on such customers. These regulatory liabilities are related to tax benefits from tax accounting method changes for repairs expenditures, allocation of mixed service costs, allocation of insurance proceeds from floods in 2008, and cost of removal expenditures. In 2014, Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by ($22) million as follows (in millions): | ||||||||||||||||||||||||
Electric tax benefit rider credits | ($85 | ) | ||||||||||||||||||||||
Gas tax benefit rider credits | (12 | ) | ||||||||||||||||||||||
Tax accounting method changes | 75 | |||||||||||||||||||||||
($22 | ) | |||||||||||||||||||||||
In 2013, the U.S. Department of the Treasury issued tangible property regulations clarifying the tax treatment of costs incurred to acquire, maintain or improve tangible property and to retire and remove depreciable property. The regulations clarified the ability to deduct cost of removal expenditures on partial dispositions of assets. In 2014, the IRS issued implementation guidance related to these tangible property regulations, which allowed companies to file a tax accounting method change to deduct cost of removal expenditures on partial dispositions that were previously capitalized. In 2014, Alliant Energy, IPL and WPL implemented this tax accounting method change, which will result in the inclusion of additional tax deductions on Alliant Energy’s U.S. federal income tax return for the calendar year 2014. In 2013, the IRS also issued guidance that clarified acceptable units of property to be used when assessing whether costs incurred for electric generation projects may be deducted as repair expenditures or if they must be capitalized. After assessing the guidance, Alliant Energy, IPL and WPL decided in 2014 to implement the new units of property by filing a tax accounting method change as part of Alliant Energy’s U.S. federal income tax return for the calendar year 2013. IPL currently anticipates refunding its related current tax benefits from these two tax accounting method changes to its Iowa retail electric and gas customers in the future, and as a result, Alliant Energy and IPL recorded an increase of $75 million to IPL’s tax benefit riders regulatory liabilities and IPL’s tax-related regulatory assets in 2014. | ||||||||||||||||||||||||
Electric tax benefit rider - The IUB has approved an electric tax benefit rider proposed by IPL, which utilizes regulatory liabilities to credit bills of Iowa retail electric customers beginning in 2011 to help offset the impact of rate increases on such customers. Alliant Energy and IPL recognize an offsetting reduction to income tax expense for the after-tax amounts credited to IPL’s retail electric customers’ bills in Iowa, resulting in no impact to Alliant Energy’s and IPL’s net income from the electric tax benefit rider as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Credit to IPL’s Iowa retail electric customers’ bills with reduction to electric revenues | $85 | $79 | $83 | |||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 35 | 33 | 35 | |||||||||||||||||||||
Income tax benefit representing tax benefits realized from electric tax benefit rider | 50 | 46 | 48 | |||||||||||||||||||||
In December 2014, the IUB issued an order authorizing $75 million of regulatory liabilities from tax benefits to be credited to IPL’s retail electric customers’ bills in Iowa during 2015 through the electric tax benefit rider. | ||||||||||||||||||||||||
In 2013, the IUB authorized IPL to reduce the electric tax benefit rider billing credits on customers’ bills in 2013 and 2014 to recognize the revenue requirement impact of the changes in tax accounting methods. The revenue requirement adjustment resulted in increases to electric revenues in Alliant Energy’s and IPL’s income statements and was recognized through the energy adjustment clause as a reduction of the credits on IPL’s Iowa retail electric customers’ bills from the electric tax benefit rider as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Revenue requirement adjustment | $15 | $24 | ||||||||||||||||||||||
In December 2014, the IUB authorized IPL to reduce the $75 million of billing credits on customers’ bills by $15 million in 2015 to recognize the revenue requirement impact of the changes in tax accounting methods. | ||||||||||||||||||||||||
Gas tax benefit rider - The IUB has approved a gas tax benefit rider proposed by IPL, which utilizes approximately $12 million of regulatory liabilities annually to credit bills of Iowa retail gas customers beginning in January 2013 through December 2015 to help offset the impact of rate increases on such customers. Alliant Energy and IPL utilized gas tax benefit rider-related regulatory liabilities to credit IPL’s Iowa retail gas customers’ bills as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Credit to IPL’s Iowa retail gas customers’ bills with reduction to gas revenues | $12 | $11 | ||||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 5 | 4 | ||||||||||||||||||||||
Income tax benefit representing tax benefits realized from gas tax benefit rider | 7 | 7 | ||||||||||||||||||||||
Refer to Note 11 for additional details regarding IPL’s tax benefit riders. | ||||||||||||||||||||||||
Energy efficiency cost recovery - WPL and IPL collect revenues from their customers to offset certain expenditures incurred by WPL and IPL for energy efficiency programs, including state mandated programs and Shared Savings programs. Differences between forecasted costs used to set rates and actual costs for these programs are deferred as a regulatory asset or regulatory liability. The July 2012 PSCW order for WPL’s 2013/2014 test period electric and gas base rate case authorized higher energy efficiency cost recovery amortizations for 2014, which contributed to the increase in Alliant Energy’s and WPL’s “Energy efficiency cost recovery” regulatory liabilities. | ||||||||||||||||||||||||
IPL’s electric transmission cost recovery - Refer to Note 1(g) for additional details of IPL’s electric transmission service cost recovery mechanism. | ||||||||||||||||||||||||
Commodity cost recovery - Refer to Note 1(g) for additional details of IPL’s and WPL’s commodity cost recovery mechanisms. | ||||||||||||||||||||||||
IPL’s electric transmission assets sale - In 2007, IPL completed the sale of its electric transmission assets to ITC and recognized a gain based on the terms of the agreement. Upon closing of the sale, IPL established a regulatory liability pursuant to conditions established by the IUB when it allowed the transaction to proceed. The regulatory liability represented the present value of IPL’s obligation to refund to its customers payments beginning in the year IPL’s customers experience an increase in rates related to the transmission charges assessed by ITC. The regulatory liability accrues interest at the monthly average U.S. Treasury rate for three-year maturities. | ||||||||||||||||||||||||
In 2009, the IUB issued an order authorizing IPL to use a portion of this regulatory liability to reduce Iowa retail electric customers’ rates by $12 million for the period from July 2009 through February 2010 with billing credits included in the monthly energy adjustment clause. In 2010, the IUB issued an order authorizing IPL to use a portion of this regulatory liability to offset electric transmission service costs expected to be billed to IPL by ITC in 2010 related to ITC’s 2008 transmission revenue adjustment. IPL utilized $41 million of this regulatory liability over a five-year period ending December 2014 to offset the Iowa retail portion of transmission costs billed to IPL by ITC in 2010 related to ITC’s 2008 transmission revenue adjustment. As a result, IPL amortized $8 million of this regulatory liability annually, with an equal and offsetting amount of amortization for IPL’s regulatory asset related to electric transmission service costs. | ||||||||||||||||||||||||
Utility Rate Cases - | ||||||||||||||||||||||||
WPL’s Wisconsin Retail Electric and Gas Rate Case (2015/2016 Test Period) - In July 2014, WPL received an order from the PSCW authorizing WPL to maintain retail electric base rates at their current levels through the end of 2016. The retail electric base rate case included a return of and a return on costs for emission controls projects at Columbia Units 1 and 2 and Edgewater Unit 5, generation performance and reliability improvements at Columbia Units 1 and 2, other ongoing capital expenditures, and an increase in electric transmission service expense. The additional revenue requirement for these cost increases was offset by the impact of changes in the amortization of regulatory liabilities associated with energy efficiency cost recoveries and increased sales volumes. The order also authorizes WPL to implement a $5 million decrease in annual base rates for its retail gas customers effective January 1, 2015 followed by a freeze of such gas base rates through the end of 2016. The order included provisions that require WPL to defer a portion of its earnings if its annual regulatory return on common equity exceeds certain levels during 2015 or 2016 and allows WPL to request a change in retail base rates during this period if its annual regulatory return on common equity falls below a certain level. | ||||||||||||||||||||||||
WPL’s Wisconsin Retail Electric and Gas Rate Case (2013/2014 Test Period) - In July 2012, WPL received an order from the PSCW authorizing WPL to implement a decrease in annual retail gas base rates of $13 million effective January 1, 2013, followed by a freeze of such gas base rates through the end of 2014. The order also authorized WPL to maintain retail electric base rates at their current levels through the end of 2014. The order included a provision that required WPL to defer a portion of its earnings if its annual regulatory return on common equity exceeds certain levels during 2013 or 2014. As of December 31, 2014, Alliant Energy and WPL deferred $9 million of WPL’s 2013 and 2014 earnings for these provisions, which is included in “Other” in Alliant Energy’s and WPL’s regulatory liabilities tables above. | ||||||||||||||||||||||||
IPL’s Iowa Retail Gas Rate Case (2011 Test Year) - In May 2012, IPL filed a request with the IUB to increase annual rates for its Iowa retail gas customers based on a 2011 historical test year as adjusted for certain known and measurable changes occurring up to 12 months after the commencement of the proceeding. IPL’s request included a proposal to utilize regulatory liabilities to credit bills of Iowa retail gas customers to help mitigate the impact of the proposed final rate increase on such customers. IPL proposed to reduce customer bills utilizing a gas tax benefit rider over a three-year period by approximately $36 million in aggregate. In conjunction with the filing, IPL implemented an interim retail gas rate increase of $9 million, or approximately 3%, on an annual basis, effective June 4, 2012, without regulatory review and subject to refund pending determination of final rates from the request. In 2012, Alliant Energy and IPL recorded $5 million in gas revenues from IPL’s Iowa retail gas customers related to the interim retail gas rate increase. In November 2012, the IUB approved a settlement agreement related to IPL’s request, resulting in a final increase in annual rates for IPL’s Iowa retail gas customers of $11 million, or approximately 4%, effective January 10, 2013. The parties to the settlement agreement and the IUB also agreed to IPL’s proposed gas tax benefit rider. Refer to “Regulatory Liabilities” above for additional details on IPL’s gas tax benefit rider. | ||||||||||||||||||||||||
IPL’s Iowa Retail Electric Rate Settlement Agreement - In September 2014, the IUB approved a settlement agreement related to rates charged to IPL’s Iowa retail electric customers. The settlement agreement extends IPL’s Iowa retail electric base rates authorized in its 2009 test year rate case through 2016 and provides targeted retail electric customer billing credits of $105 million in aggregate, beginning May 2014 as follows (in millions): | ||||||||||||||||||||||||
2014 | 2015 | 2016 | ||||||||||||||||||||||
Billing credits to reduce retail electric customers’ bills | $70 | $25 | $10 | |||||||||||||||||||||
In 2014, IPL recorded $72 million of such retail electric customer billing credits. IPL will make adjustments to future billing credits to provide aggregate retail electric customer billing credits of $105 million in aggregate. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2015 Test Year) - In December 2014, WPL received an order from the PSCW authorizing an annual retail electric rate increase of $39 million, or approximately 4%, effective January 1, 2015. The increase includes $39 million of anticipated increases in retail electric fuel-related costs in 2015 attributable to $25 million for higher retail electric fuel-related costs per MWh anticipated in 2015 and $14 million from the impact of increased sales volumes approved in the retail electric base rate case for 2015. WPL’s 2015 fuel-related costs will be subject to deferral if they fall outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Deferral of under-collections are reduced to the extent WPL’s actual return on common equity exceeds the most recently authorized return on common equity. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2014 Test Year) - In 2013, WPL received an order from the PSCW authorizing an annual retail electric rate increase of $19 million, or approximately 2%, effective January 1, 2014 to reflect anticipated increases in retail electric fuel-related costs in 2014 compared to the fuel-related cost estimates used to determine rates for 2013. WPL’s 2014 fuel-related costs were subject to deferral if they fell outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Retail fuel-related costs incurred by WPL through December 31, 2014 were higher than fuel-related costs used to determine rates for such period resulting in an under-collection of fuel-related costs for 2014 of $33 million (including $28 million outside the approved range for 2014). As of December 31, 2014, Alliant Energy and WPL recorded $28 million in “Regulatory assets” on their balance sheets for the fuel-related costs incurred in 2014 that fell outside the PSCW approved bandwidth. The $28 million of deferred fuel-related costs is included in “Commodity cost recovery” in Alliant Energy’s and WPL’s regulatory assets tables above. Beginning in 2015, the regulatory asset will accrue interest at WPL’s PSCW authorized short-term debt rate. WPL currently expects to file a fuel reconciliation application with the PSCW in the first quarter of 2015 to seek recovery of these deferred fuel-related costs. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2013 Test Year) - In 2012, WPL received an order from the PSCW authorizing an annual retail electric rate decrease of $29 million, or approximately 3%, effective January 1, 2013 to reflect anticipated decreases in retail electric fuel-related costs in 2013 compared to the fuel-related cost estimates used to determine rates for 2012. WPL’s 2013 fuel-related costs were subject to deferral if they fell outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Retail fuel-related costs incurred by WPL for 2013 did not fall outside of the bandwidth. | ||||||||||||||||||||||||
WPL’s Retail Fuel-related Rate Filing (2012 Test Year) - In 2011, WPL received an order from the PSCW authorizing an annual retail electric rate increase of $4 million, effective January 1, 2012 to reflect anticipated increases in retail fuel-related costs in 2012 compared to the fuel-related cost estimates used to determine rates for 2011. The 2012 fuel-related costs were subject to deferral if they fell outside an annual bandwidth of plus or minus 2% of the approved annual forecasted fuel-related costs. Retail fuel-related costs incurred by WPL in 2012 were lower than retail fuel-related costs used to determine rates for such period resulting in an over-collection of fuel-related costs for 2012 of approximately $17 million (including $11 million outside the approved range for 2012). In 2013, WPL received an order from the PSCW to refund $12 million, including interest, to its retail electric customers for these over-collections, which WPL completed in 2013. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT | |||||||||||||||||||||||||||||||||||
At December 31, details of property, plant and equipment on the balance sheets were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Utility: | ||||||||||||||||||||||||||||||||||||
Electric plant: | ||||||||||||||||||||||||||||||||||||
In service: | ||||||||||||||||||||||||||||||||||||
Generation (a) | $5,463.00 | $4,792.00 | $2,872.40 | $2,513.20 | $2,590.60 | $2,278.80 | ||||||||||||||||||||||||||||||
Distribution | 4,435.40 | 4,179.60 | 2,471.70 | 2,311.20 | 1,963.70 | 1,868.40 | ||||||||||||||||||||||||||||||
Other | 309.1 | 286.3 | 215.5 | 210.5 | 93.6 | 75.8 | ||||||||||||||||||||||||||||||
Anticipated to be retired early (b) | 157.6 | 157.8 | — | — | 157.6 | 157.8 | ||||||||||||||||||||||||||||||
Total electric plant | 10,365.10 | 9,415.70 | 5,559.60 | 5,034.90 | 4,805.50 | 4,380.80 | ||||||||||||||||||||||||||||||
Gas plant in service | 946.2 | 909.9 | 474 | 456.8 | 472.2 | 453.1 | ||||||||||||||||||||||||||||||
Other plant in service | 539.3 | 547.9 | 298.8 | 302.8 | 240.5 | 245.1 | ||||||||||||||||||||||||||||||
Accumulated depreciation | (3,923.1 | ) | (3,726.2 | ) | (2,124.5 | ) | (2,025.3 | ) | (1,798.6 | ) | (1,700.9 | ) | ||||||||||||||||||||||||
Net plant | 7,927.50 | 7,147.30 | 4,207.90 | 3,769.20 | 3,719.60 | 3,378.10 | ||||||||||||||||||||||||||||||
Leased Sheboygan Falls Energy Facility, net (c) | — | — | — | — | 64.7 | 70.9 | ||||||||||||||||||||||||||||||
Construction work in progress | 479.1 | 677.9 | 325 | 346.4 | 154.1 | 331.5 | ||||||||||||||||||||||||||||||
Other, net | 22.3 | 22.3 | 21.8 | 21.2 | 0.5 | 1.1 | ||||||||||||||||||||||||||||||
Total utility | 8,428.90 | 7,847.50 | 4,554.70 | 4,136.80 | 3,938.90 | 3,781.60 | ||||||||||||||||||||||||||||||
Non-regulated and other: | ||||||||||||||||||||||||||||||||||||
Non-regulated Generation, net (d) | 240.1 | 249.4 | — | — | — | — | ||||||||||||||||||||||||||||||
Corporate Services and other, net (e) | 269.4 | 229.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Total non-regulated and other | 509.5 | 479 | — | — | — | — | ||||||||||||||||||||||||||||||
Total property, plant and equipment | $8,938.40 | $8,326.50 | $4,554.70 | $4,136.80 | $3,938.90 | $3,781.60 | ||||||||||||||||||||||||||||||
(a) | Includes various emission controls projects placed in service in 2014, which are discussed in “Emission Controls Projects” below. | |||||||||||||||||||||||||||||||||||
(b) | In 2013, WPL received approval from MISO to retire Edgewater Unit 3, and Nelson Dewey Units 1 and 2. WPL currently anticipates retiring these EGUs by December 31, 2015, contingent on completion of transmission network upgrades needed for system reliability. WPL is recovering the remaining net book value of these EGUs over a 10-year period beginning January 1, 2013 pursuant to a May 2012 PSCW order. | |||||||||||||||||||||||||||||||||||
(c) | Less accumulated amortization of $59.1 million and $52.9 million for WPL as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(d) | Less accumulated depreciation of $49.5 million and $40.0 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(e) | Less accumulated depreciation of $229.1 million and $214.2 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
Utility - | ||||||||||||||||||||||||||||||||||||
Emission Controls Projects - Various environmental controls projects to install scrubbers and baghouses at certain EGUs have been completed or are currently in progress. The scrubbers and baghouses reduce SO2 and mercury emissions at the EGUs and are expected to help meet requirements under the MATS Rule and CSAPR. | ||||||||||||||||||||||||||||||||||||
IPL’s George Neal Unit 3 - Construction of a scrubber and baghouse at George Neal Unit 3 began in 2011 and was completed in 2014, which resulted in a transfer of the capitalized project costs from “Construction work in progress” to “Electric plant - Generation” in the above table for Alliant Energy and IPL in 2014. IPL owns a 28% interest in George Neal Unit 3. As of December 31, 2014, the capitalized project costs consisted of capital expenditures of $60 million and AFUDC of $4 million for IPL’s allocated portion of the George Neal Unit 3 scrubber and baghouse. | ||||||||||||||||||||||||||||||||||||
IPL’s Ottumwa Unit 1 - Construction of a scrubber and baghouse at Ottumwa Unit 1 began in 2012 and was completed in 2014, which resulted in a transfer of the capitalized projects costs from “Construction work in progress” to “Electric plant - Generation” in the above table for Alliant Energy and IPL in 2014. IPL owns a 48% interest in Ottumwa Unit 1. As of December 31, 2014, the capitalized project costs consisted of capitalized expenditures of $154 million and AFUDC of $21 million for IPL’s allocated portion of the Ottumwa Unit 1 scrubber and baghouse. | ||||||||||||||||||||||||||||||||||||
WPL’s Columbia Units 1 and 2 - Construction of scrubbers and baghouses at Columbia Units 1 and 2 began in 2012 and was completed in 2014, which resulted in a transfer of the capitalized project costs from “Construction work in progress” to “Electric plant - Generation” in the above table for Alliant Energy and WPL in 2014. WPL owns 46.2% interest in Columbia Units 1 and 2. As of December 31, 2014, the capitalized project costs consisted of capital expenditures of $272 million and AFUDC of $15 million for WPL’s allocated portion of the Columbia Units 1 and 2 scrubbers and baghouses. | ||||||||||||||||||||||||||||||||||||
WPL’s Edgewater Unit 5 - WPL is currently installing a scrubber and baghouse at Edgewater Unit 5. Construction began in 2014 and is expected to be completed in 2016. As of December 31, 2014, Alliant Energy and WPL recorded capitalized expenditures of $90 million and AFUDC of $3 million for the scrubber and baghouse in “Construction work in progress” in the above table for Alliant Energy and WPL. | ||||||||||||||||||||||||||||||||||||
Natural Gas-Fired Generation Project - | ||||||||||||||||||||||||||||||||||||
IPL’s Marshalltown Generating Station - IPL is currently constructing Marshalltown, an approximate 650 MW natural gas-fired combined-cycle EGU. Construction began in 2014 and is expected to be completed in 2017. As of December 31, 2014, Alliant Energy and IPL recorded capitalized expenditures of $188 million and AFUDC of $4 million for Marshalltown in “Construction work in progress” in the above table for Alliant Energy and IPL. | ||||||||||||||||||||||||||||||||||||
Anticipated Sales of IPL’s Minnesota Electric and Natural Gas Distribution Assets - In September 2013, IPL signed a definitive agreement to sell its Minnesota electric distribution assets to Southern Minnesota Energy Cooperative, a combined group of various neighboring electric cooperatives. Also in September 2013, IPL signed a definitive agreement to sell its Minnesota natural gas distribution assets to Minnesota Energy Resources Corporation, a subsidiary of Integrys Energy Group, Inc. Proceeds from the sales of the electric and natural gas distribution assets, which approximate the carrying value of such assets, are expected to be approximately $130 million and $10 million, respectively, subject to customary closing adjustments. The proceeds are expected to reduce Alliant Energy’s and IPL’s future financing requirements. In December 2014, the MPUC issued an order approving the proposed sale of IPL’s Minnesota natural gas distribution assets. Pending receipt of remaining regulatory approvals and various other contingencies, the natural gas and electric transactions are currently expected to be concluded in 2015. | ||||||||||||||||||||||||||||||||||||
The sales price of the assets expected to be sold, which primarily consist of property, plant and equipment, and working capital items, is not expected to result in a material gain or loss. As of December 31, 2014, IPL’s assets and liabilities included in the electric sale agreement did not meet the criteria to be classified as held for sale due to uncertainties in the regulatory approval process that existed on such date. Refer to Notes 1(p) and 19 for further discussion of the natural gas distribution assets, which qualified as held for sale as of December 31, 2014. | ||||||||||||||||||||||||||||||||||||
The electric distribution asset sales agreement includes a wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative, which is subject to FERC approval. The agreement contains a five-year termination notice, which may not be given until the fifth anniversary of the effective date of the agreement, resulting in a minimum term of 10 years. The agreement remains in effect indefinitely, unless notice to terminate is provided by either party. This wholesale power supply agreement includes standardized pricing mechanisms that are detailed in IPL’s current tariffs accepted by FERC through wholesale rate case proceedings. IPL’s current return on common equity authorized by FERC related to its wholesale electric rates is 10.97%. As a result of IPL’s requirement to supply electricity to Southern Minnesota Energy Cooperative under the wholesale power supply agreement, the sale of the electric distribution assets is not expected to have a significant impact on IPL’s current generation plans or operating results. | ||||||||||||||||||||||||||||||||||||
AFUDC - AFUDC represents costs to finance construction additions including a return on equity component and cost of debt component as required by regulatory accounting. The concurrent credit for the amount of AFUDC capitalized is recorded as “Allowance for funds used during construction” in the income statements. The amount of AFUDC generated by equity and debt components was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Equity | $23.10 | $20.30 | $14.10 | $17.10 | $13.80 | $5.20 | $6.00 | $6.50 | $8.90 | |||||||||||||||||||||||||||
Debt | 11.7 | 10.5 | 7.8 | 8.8 | 7.2 | 3.2 | 2.9 | 3.3 | 4.6 | |||||||||||||||||||||||||||
$34.80 | $30.80 | $21.90 | $25.90 | $21.00 | $8.40 | $8.90 | $9.80 | $13.50 | ||||||||||||||||||||||||||||
AFUDC related to various construction projects was recognized in the income statements as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Ottumwa Unit 1 | $10.60 | $8.00 | $2.00 | |||||||||||||||||||||||||||||||||
Emission controls - George Neal Units 3 and 4 | 1.4 | 5.1 | 0.9 | |||||||||||||||||||||||||||||||||
Marshalltown | 3.7 | — | — | |||||||||||||||||||||||||||||||||
Other | 10.2 | 7.9 | 5.5 | |||||||||||||||||||||||||||||||||
25.9 | 21 | 8.4 | ||||||||||||||||||||||||||||||||||
WPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Columbia Units 1 and 2 | 4 | 7.2 | 3.9 | |||||||||||||||||||||||||||||||||
Emission controls - Edgewater Unit 5 | 2.7 | — | 7.2 | |||||||||||||||||||||||||||||||||
Other | 2.2 | 2.6 | 2.4 | |||||||||||||||||||||||||||||||||
8.9 | 9.8 | 13.5 | ||||||||||||||||||||||||||||||||||
Alliant Energy | $34.80 | $30.80 | $21.90 | |||||||||||||||||||||||||||||||||
In addition to the emission controls projects discussed above that were placed in service in 2014, a scrubber and baghouse was placed in service at IPL’s George Neal Unit 4 in 2013 and an SCR was placed in service at WPL’s Edgewater Unit 5 in 2012. | ||||||||||||||||||||||||||||||||||||
Wind Generation Projects - | ||||||||||||||||||||||||||||||||||||
IPL’s Whispering Willow - East Wind Project - In 2011, IPL received an order from the MPUC approving a temporary recovery rate for the Minnesota retail portion of its Whispering Willow - East wind project construction costs. In its order, the MPUC did not reach a conclusion as to the prudence of these project costs. The prudence of these project costs and the final recovery rate was addressed in a separate proceeding in 2013. The initial recovery rate approved by the MPUC was below the amount required by IPL to recover the Minnesota retail portion of its total project costs. Based on its interpretation of the order, IPL believed that it was probable it would not be allowed to recover the entire Minnesota retail portion of its project costs. IPL estimated the most likely outcome of the final rate proceeding would result in the MPUC effectively disallowing recovery of approximately $8 million of project costs out of a total of approximately $30 million of project costs allocated to the Minnesota retail jurisdiction. As a result, Alliant Energy and IPL recognized an $8 million impairment related to this probable disallowance in 2011. In December 2013, IPL received an order from the MPUC approving full cost recovery of the Minnesota retail portion of IPL’s Whispering Willow - East wind project construction costs effective January 1, 2013. As a result, Alliant Energy and IPL recognized a $7 million regulatory-related credit, which was recorded as an increase to property, plant and equipment on their balance sheets and a decrease to “Utility - Other operation and maintenance” in their income statements in 2013. | ||||||||||||||||||||||||||||||||||||
Non-regulated and Other - The non-regulated and other property, plant and equipment recorded on Alliant Energy’s balance sheets includes the following: | ||||||||||||||||||||||||||||||||||||
Non-regulated Generation - | ||||||||||||||||||||||||||||||||||||
Franklin County Wind Project - The Franklin County wind project was placed into service in 2012 and is depreciated using the straight-line method over a 30-year period. As of December 31, 2014, Alliant Energy recorded $137 million on its balance sheet related to the wind project. Refer to Note 5(d) for discussion of a cash grant received in 2013 related to the wind project. | ||||||||||||||||||||||||||||||||||||
Sheboygan Falls - Sheboygan Falls was placed into service in 2005 and is depreciated using the straight-line method over a 35-year period. As of December 31, 2014, Alliant Energy recorded $103 million on its balance sheet related to Sheboygan Falls. | ||||||||||||||||||||||||||||||||||||
Corporate Services and Other - Property, plant and equipment related to Corporate Services includes computer software and the corporate headquarters building located in Madison, Wisconsin. Corporate Services is also implementing a new customer billing and information system for IPL and WPL, which is currently expected to be deployed in 2015. As of December 31, 2014, Alliant Energy recorded capitalized expenditures of $62 million and capitalized interest of $1 million for the customer billing and information system in “Corporate Services and other, net” in the above table for Alliant Energy. Property, plant and equipment related to Transportation includes a short-line railway in Iowa, a barge terminal on the Mississippi River and a coal terminal in Williams, Iowa. The Corporate Services and Other property, plant and equipment is depreciated using the straight-line method over periods ranging from 5 to 30 years. | ||||||||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT | |||||||||||||||||||||||||||||||||||
At December 31, details of property, plant and equipment on the balance sheets were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Utility: | ||||||||||||||||||||||||||||||||||||
Electric plant: | ||||||||||||||||||||||||||||||||||||
In service: | ||||||||||||||||||||||||||||||||||||
Generation (a) | $5,463.00 | $4,792.00 | $2,872.40 | $2,513.20 | $2,590.60 | $2,278.80 | ||||||||||||||||||||||||||||||
Distribution | 4,435.40 | 4,179.60 | 2,471.70 | 2,311.20 | 1,963.70 | 1,868.40 | ||||||||||||||||||||||||||||||
Other | 309.1 | 286.3 | 215.5 | 210.5 | 93.6 | 75.8 | ||||||||||||||||||||||||||||||
Anticipated to be retired early (b) | 157.6 | 157.8 | — | — | 157.6 | 157.8 | ||||||||||||||||||||||||||||||
Total electric plant | 10,365.10 | 9,415.70 | 5,559.60 | 5,034.90 | 4,805.50 | 4,380.80 | ||||||||||||||||||||||||||||||
Gas plant in service | 946.2 | 909.9 | 474 | 456.8 | 472.2 | 453.1 | ||||||||||||||||||||||||||||||
Other plant in service | 539.3 | 547.9 | 298.8 | 302.8 | 240.5 | 245.1 | ||||||||||||||||||||||||||||||
Accumulated depreciation | (3,923.1 | ) | (3,726.2 | ) | (2,124.5 | ) | (2,025.3 | ) | (1,798.6 | ) | (1,700.9 | ) | ||||||||||||||||||||||||
Net plant | 7,927.50 | 7,147.30 | 4,207.90 | 3,769.20 | 3,719.60 | 3,378.10 | ||||||||||||||||||||||||||||||
Leased Sheboygan Falls Energy Facility, net (c) | — | — | — | — | 64.7 | 70.9 | ||||||||||||||||||||||||||||||
Construction work in progress | 479.1 | 677.9 | 325 | 346.4 | 154.1 | 331.5 | ||||||||||||||||||||||||||||||
Other, net | 22.3 | 22.3 | 21.8 | 21.2 | 0.5 | 1.1 | ||||||||||||||||||||||||||||||
Total utility | 8,428.90 | 7,847.50 | 4,554.70 | 4,136.80 | 3,938.90 | 3,781.60 | ||||||||||||||||||||||||||||||
Non-regulated and other: | ||||||||||||||||||||||||||||||||||||
Non-regulated Generation, net (d) | 240.1 | 249.4 | — | — | — | — | ||||||||||||||||||||||||||||||
Corporate Services and other, net (e) | 269.4 | 229.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Total non-regulated and other | 509.5 | 479 | — | — | — | — | ||||||||||||||||||||||||||||||
Total property, plant and equipment | $8,938.40 | $8,326.50 | $4,554.70 | $4,136.80 | $3,938.90 | $3,781.60 | ||||||||||||||||||||||||||||||
(a) | Includes various emission controls projects placed in service in 2014, which are discussed in “Emission Controls Projects” below. | |||||||||||||||||||||||||||||||||||
(b) | In 2013, WPL received approval from MISO to retire Edgewater Unit 3, and Nelson Dewey Units 1 and 2. WPL currently anticipates retiring these EGUs by December 31, 2015, contingent on completion of transmission network upgrades needed for system reliability. WPL is recovering the remaining net book value of these EGUs over a 10-year period beginning January 1, 2013 pursuant to a May 2012 PSCW order. | |||||||||||||||||||||||||||||||||||
(c) | Less accumulated amortization of $59.1 million and $52.9 million for WPL as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(d) | Less accumulated depreciation of $49.5 million and $40.0 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(e) | Less accumulated depreciation of $229.1 million and $214.2 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
Utility - | ||||||||||||||||||||||||||||||||||||
Emission Controls Projects - Various environmental controls projects to install scrubbers and baghouses at certain EGUs have been completed or are currently in progress. The scrubbers and baghouses reduce SO2 and mercury emissions at the EGUs and are expected to help meet requirements under the MATS Rule and CSAPR. | ||||||||||||||||||||||||||||||||||||
IPL’s George Neal Unit 3 - Construction of a scrubber and baghouse at George Neal Unit 3 began in 2011 and was completed in 2014, which resulted in a transfer of the capitalized project costs from “Construction work in progress” to “Electric plant - Generation” in the above table for Alliant Energy and IPL in 2014. IPL owns a 28% interest in George Neal Unit 3. As of December 31, 2014, the capitalized project costs consisted of capital expenditures of $60 million and AFUDC of $4 million for IPL’s allocated portion of the George Neal Unit 3 scrubber and baghouse. | ||||||||||||||||||||||||||||||||||||
IPL’s Ottumwa Unit 1 - Construction of a scrubber and baghouse at Ottumwa Unit 1 began in 2012 and was completed in 2014, which resulted in a transfer of the capitalized projects costs from “Construction work in progress” to “Electric plant - Generation” in the above table for Alliant Energy and IPL in 2014. IPL owns a 48% interest in Ottumwa Unit 1. As of December 31, 2014, the capitalized project costs consisted of capitalized expenditures of $154 million and AFUDC of $21 million for IPL’s allocated portion of the Ottumwa Unit 1 scrubber and baghouse. | ||||||||||||||||||||||||||||||||||||
WPL’s Columbia Units 1 and 2 - Construction of scrubbers and baghouses at Columbia Units 1 and 2 began in 2012 and was completed in 2014, which resulted in a transfer of the capitalized project costs from “Construction work in progress” to “Electric plant - Generation” in the above table for Alliant Energy and WPL in 2014. WPL owns 46.2% interest in Columbia Units 1 and 2. As of December 31, 2014, the capitalized project costs consisted of capital expenditures of $272 million and AFUDC of $15 million for WPL’s allocated portion of the Columbia Units 1 and 2 scrubbers and baghouses. | ||||||||||||||||||||||||||||||||||||
WPL’s Edgewater Unit 5 - WPL is currently installing a scrubber and baghouse at Edgewater Unit 5. Construction began in 2014 and is expected to be completed in 2016. As of December 31, 2014, Alliant Energy and WPL recorded capitalized expenditures of $90 million and AFUDC of $3 million for the scrubber and baghouse in “Construction work in progress” in the above table for Alliant Energy and WPL. | ||||||||||||||||||||||||||||||||||||
Natural Gas-Fired Generation Project - | ||||||||||||||||||||||||||||||||||||
IPL’s Marshalltown Generating Station - IPL is currently constructing Marshalltown, an approximate 650 MW natural gas-fired combined-cycle EGU. Construction began in 2014 and is expected to be completed in 2017. As of December 31, 2014, Alliant Energy and IPL recorded capitalized expenditures of $188 million and AFUDC of $4 million for Marshalltown in “Construction work in progress” in the above table for Alliant Energy and IPL. | ||||||||||||||||||||||||||||||||||||
Anticipated Sales of IPL’s Minnesota Electric and Natural Gas Distribution Assets - In September 2013, IPL signed a definitive agreement to sell its Minnesota electric distribution assets to Southern Minnesota Energy Cooperative, a combined group of various neighboring electric cooperatives. Also in September 2013, IPL signed a definitive agreement to sell its Minnesota natural gas distribution assets to Minnesota Energy Resources Corporation, a subsidiary of Integrys Energy Group, Inc. Proceeds from the sales of the electric and natural gas distribution assets, which approximate the carrying value of such assets, are expected to be approximately $130 million and $10 million, respectively, subject to customary closing adjustments. The proceeds are expected to reduce Alliant Energy’s and IPL’s future financing requirements. In December 2014, the MPUC issued an order approving the proposed sale of IPL’s Minnesota natural gas distribution assets. Pending receipt of remaining regulatory approvals and various other contingencies, the natural gas and electric transactions are currently expected to be concluded in 2015. | ||||||||||||||||||||||||||||||||||||
The sales price of the assets expected to be sold, which primarily consist of property, plant and equipment, and working capital items, is not expected to result in a material gain or loss. As of December 31, 2014, IPL’s assets and liabilities included in the electric sale agreement did not meet the criteria to be classified as held for sale due to uncertainties in the regulatory approval process that existed on such date. Refer to Notes 1(p) and 19 for further discussion of the natural gas distribution assets, which qualified as held for sale as of December 31, 2014. | ||||||||||||||||||||||||||||||||||||
The electric distribution asset sales agreement includes a wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative, which is subject to FERC approval. The agreement contains a five-year termination notice, which may not be given until the fifth anniversary of the effective date of the agreement, resulting in a minimum term of 10 years. The agreement remains in effect indefinitely, unless notice to terminate is provided by either party. This wholesale power supply agreement includes standardized pricing mechanisms that are detailed in IPL’s current tariffs accepted by FERC through wholesale rate case proceedings. IPL’s current return on common equity authorized by FERC related to its wholesale electric rates is 10.97%. As a result of IPL’s requirement to supply electricity to Southern Minnesota Energy Cooperative under the wholesale power supply agreement, the sale of the electric distribution assets is not expected to have a significant impact on IPL’s current generation plans or operating results. | ||||||||||||||||||||||||||||||||||||
AFUDC - AFUDC represents costs to finance construction additions including a return on equity component and cost of debt component as required by regulatory accounting. The concurrent credit for the amount of AFUDC capitalized is recorded as “Allowance for funds used during construction” in the income statements. The amount of AFUDC generated by equity and debt components was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Equity | $23.10 | $20.30 | $14.10 | $17.10 | $13.80 | $5.20 | $6.00 | $6.50 | $8.90 | |||||||||||||||||||||||||||
Debt | 11.7 | 10.5 | 7.8 | 8.8 | 7.2 | 3.2 | 2.9 | 3.3 | 4.6 | |||||||||||||||||||||||||||
$34.80 | $30.80 | $21.90 | $25.90 | $21.00 | $8.40 | $8.90 | $9.80 | $13.50 | ||||||||||||||||||||||||||||
AFUDC related to various construction projects was recognized in the income statements as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Ottumwa Unit 1 | $10.60 | $8.00 | $2.00 | |||||||||||||||||||||||||||||||||
Emission controls - George Neal Units 3 and 4 | 1.4 | 5.1 | 0.9 | |||||||||||||||||||||||||||||||||
Marshalltown | 3.7 | — | — | |||||||||||||||||||||||||||||||||
Other | 10.2 | 7.9 | 5.5 | |||||||||||||||||||||||||||||||||
25.9 | 21 | 8.4 | ||||||||||||||||||||||||||||||||||
WPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Columbia Units 1 and 2 | 4 | 7.2 | 3.9 | |||||||||||||||||||||||||||||||||
Emission controls - Edgewater Unit 5 | 2.7 | — | 7.2 | |||||||||||||||||||||||||||||||||
Other | 2.2 | 2.6 | 2.4 | |||||||||||||||||||||||||||||||||
8.9 | 9.8 | 13.5 | ||||||||||||||||||||||||||||||||||
Alliant Energy | $34.80 | $30.80 | $21.90 | |||||||||||||||||||||||||||||||||
In addition to the emission controls projects discussed above that were placed in service in 2014, a scrubber and baghouse was placed in service at IPL’s George Neal Unit 4 in 2013 and an SCR was placed in service at WPL’s Edgewater Unit 5 in 2012. | ||||||||||||||||||||||||||||||||||||
Wind Generation Projects - | ||||||||||||||||||||||||||||||||||||
IPL’s Whispering Willow - East Wind Project - In 2011, IPL received an order from the MPUC approving a temporary recovery rate for the Minnesota retail portion of its Whispering Willow - East wind project construction costs. In its order, the MPUC did not reach a conclusion as to the prudence of these project costs. The prudence of these project costs and the final recovery rate was addressed in a separate proceeding in 2013. The initial recovery rate approved by the MPUC was below the amount required by IPL to recover the Minnesota retail portion of its total project costs. Based on its interpretation of the order, IPL believed that it was probable it would not be allowed to recover the entire Minnesota retail portion of its project costs. IPL estimated the most likely outcome of the final rate proceeding would result in the MPUC effectively disallowing recovery of approximately $8 million of project costs out of a total of approximately $30 million of project costs allocated to the Minnesota retail jurisdiction. As a result, Alliant Energy and IPL recognized an $8 million impairment related to this probable disallowance in 2011. In December 2013, IPL received an order from the MPUC approving full cost recovery of the Minnesota retail portion of IPL’s Whispering Willow - East wind project construction costs effective January 1, 2013. As a result, Alliant Energy and IPL recognized a $7 million regulatory-related credit, which was recorded as an increase to property, plant and equipment on their balance sheets and a decrease to “Utility - Other operation and maintenance” in their income statements in 2013. | ||||||||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT | |||||||||||||||||||||||||||||||||||
At December 31, details of property, plant and equipment on the balance sheets were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Utility: | ||||||||||||||||||||||||||||||||||||
Electric plant: | ||||||||||||||||||||||||||||||||||||
In service: | ||||||||||||||||||||||||||||||||||||
Generation (a) | $5,463.00 | $4,792.00 | $2,872.40 | $2,513.20 | $2,590.60 | $2,278.80 | ||||||||||||||||||||||||||||||
Distribution | 4,435.40 | 4,179.60 | 2,471.70 | 2,311.20 | 1,963.70 | 1,868.40 | ||||||||||||||||||||||||||||||
Other | 309.1 | 286.3 | 215.5 | 210.5 | 93.6 | 75.8 | ||||||||||||||||||||||||||||||
Anticipated to be retired early (b) | 157.6 | 157.8 | — | — | 157.6 | 157.8 | ||||||||||||||||||||||||||||||
Total electric plant | 10,365.10 | 9,415.70 | 5,559.60 | 5,034.90 | 4,805.50 | 4,380.80 | ||||||||||||||||||||||||||||||
Gas plant in service | 946.2 | 909.9 | 474 | 456.8 | 472.2 | 453.1 | ||||||||||||||||||||||||||||||
Other plant in service | 539.3 | 547.9 | 298.8 | 302.8 | 240.5 | 245.1 | ||||||||||||||||||||||||||||||
Accumulated depreciation | (3,923.1 | ) | (3,726.2 | ) | (2,124.5 | ) | (2,025.3 | ) | (1,798.6 | ) | (1,700.9 | ) | ||||||||||||||||||||||||
Net plant | 7,927.50 | 7,147.30 | 4,207.90 | 3,769.20 | 3,719.60 | 3,378.10 | ||||||||||||||||||||||||||||||
Leased Sheboygan Falls Energy Facility, net (c) | — | — | — | — | 64.7 | 70.9 | ||||||||||||||||||||||||||||||
Construction work in progress | 479.1 | 677.9 | 325 | 346.4 | 154.1 | 331.5 | ||||||||||||||||||||||||||||||
Other, net | 22.3 | 22.3 | 21.8 | 21.2 | 0.5 | 1.1 | ||||||||||||||||||||||||||||||
Total utility | 8,428.90 | 7,847.50 | 4,554.70 | 4,136.80 | 3,938.90 | 3,781.60 | ||||||||||||||||||||||||||||||
Non-regulated and other: | ||||||||||||||||||||||||||||||||||||
Non-regulated Generation, net (d) | 240.1 | 249.4 | — | — | — | — | ||||||||||||||||||||||||||||||
Corporate Services and other, net (e) | 269.4 | 229.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Total non-regulated and other | 509.5 | 479 | — | — | — | — | ||||||||||||||||||||||||||||||
Total property, plant and equipment | $8,938.40 | $8,326.50 | $4,554.70 | $4,136.80 | $3,938.90 | $3,781.60 | ||||||||||||||||||||||||||||||
(a) | Includes various emission controls projects placed in service in 2014, which are discussed in “Emission Controls Projects” below. | |||||||||||||||||||||||||||||||||||
(b) | In 2013, WPL received approval from MISO to retire Edgewater Unit 3, and Nelson Dewey Units 1 and 2. WPL currently anticipates retiring these EGUs by December 31, 2015, contingent on completion of transmission network upgrades needed for system reliability. WPL is recovering the remaining net book value of these EGUs over a 10-year period beginning January 1, 2013 pursuant to a May 2012 PSCW order. | |||||||||||||||||||||||||||||||||||
(c) | Less accumulated amortization of $59.1 million and $52.9 million for WPL as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(d) | Less accumulated depreciation of $49.5 million and $40.0 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(e) | Less accumulated depreciation of $229.1 million and $214.2 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
Utility - | ||||||||||||||||||||||||||||||||||||
Emission Controls Projects - Various environmental controls projects to install scrubbers and baghouses at certain EGUs have been completed or are currently in progress. The scrubbers and baghouses reduce SO2 and mercury emissions at the EGUs and are expected to help meet requirements under the MATS Rule and CSAPR. | ||||||||||||||||||||||||||||||||||||
IPL’s George Neal Unit 3 - Construction of a scrubber and baghouse at George Neal Unit 3 began in 2011 and was completed in 2014, which resulted in a transfer of the capitalized project costs from “Construction work in progress” to “Electric plant - Generation” in the above table for Alliant Energy and IPL in 2014. IPL owns a 28% interest in George Neal Unit 3. As of December 31, 2014, the capitalized project costs consisted of capital expenditures of $60 million and AFUDC of $4 million for IPL’s allocated portion of the George Neal Unit 3 scrubber and baghouse. | ||||||||||||||||||||||||||||||||||||
IPL’s Ottumwa Unit 1 - Construction of a scrubber and baghouse at Ottumwa Unit 1 began in 2012 and was completed in 2014, which resulted in a transfer of the capitalized projects costs from “Construction work in progress” to “Electric plant - Generation” in the above table for Alliant Energy and IPL in 2014. IPL owns a 48% interest in Ottumwa Unit 1. As of December 31, 2014, the capitalized project costs consisted of capitalized expenditures of $154 million and AFUDC of $21 million for IPL’s allocated portion of the Ottumwa Unit 1 scrubber and baghouse. | ||||||||||||||||||||||||||||||||||||
WPL’s Columbia Units 1 and 2 - Construction of scrubbers and baghouses at Columbia Units 1 and 2 began in 2012 and was completed in 2014, which resulted in a transfer of the capitalized project costs from “Construction work in progress” to “Electric plant - Generation” in the above table for Alliant Energy and WPL in 2014. WPL owns 46.2% interest in Columbia Units 1 and 2. As of December 31, 2014, the capitalized project costs consisted of capital expenditures of $272 million and AFUDC of $15 million for WPL’s allocated portion of the Columbia Units 1 and 2 scrubbers and baghouses. | ||||||||||||||||||||||||||||||||||||
WPL’s Edgewater Unit 5 - WPL is currently installing a scrubber and baghouse at Edgewater Unit 5. Construction began in 2014 and is expected to be completed in 2016. As of December 31, 2014, Alliant Energy and WPL recorded capitalized expenditures of $90 million and AFUDC of $3 million for the scrubber and baghouse in “Construction work in progress” in the above table for Alliant Energy and WPL. | ||||||||||||||||||||||||||||||||||||
Natural Gas-Fired Generation Project - | ||||||||||||||||||||||||||||||||||||
IPL’s Marshalltown Generating Station - IPL is currently constructing Marshalltown, an approximate 650 MW natural gas-fired combined-cycle EGU. Construction began in 2014 and is expected to be completed in 2017. As of December 31, 2014, Alliant Energy and IPL recorded capitalized expenditures of $188 million and AFUDC of $4 million for Marshalltown in “Construction work in progress” in the above table for Alliant Energy and IPL. | ||||||||||||||||||||||||||||||||||||
Anticipated Sales of IPL’s Minnesota Electric and Natural Gas Distribution Assets - In September 2013, IPL signed a definitive agreement to sell its Minnesota electric distribution assets to Southern Minnesota Energy Cooperative, a combined group of various neighboring electric cooperatives. Also in September 2013, IPL signed a definitive agreement to sell its Minnesota natural gas distribution assets to Minnesota Energy Resources Corporation, a subsidiary of Integrys Energy Group, Inc. Proceeds from the sales of the electric and natural gas distribution assets, which approximate the carrying value of such assets, are expected to be approximately $130 million and $10 million, respectively, subject to customary closing adjustments. The proceeds are expected to reduce Alliant Energy’s and IPL’s future financing requirements. In December 2014, the MPUC issued an order approving the proposed sale of IPL’s Minnesota natural gas distribution assets. Pending receipt of remaining regulatory approvals and various other contingencies, the natural gas and electric transactions are currently expected to be concluded in 2015. | ||||||||||||||||||||||||||||||||||||
The sales price of the assets expected to be sold, which primarily consist of property, plant and equipment, and working capital items, is not expected to result in a material gain or loss. As of December 31, 2014, IPL’s assets and liabilities included in the electric sale agreement did not meet the criteria to be classified as held for sale due to uncertainties in the regulatory approval process that existed on such date. Refer to Notes 1(p) and 19 for further discussion of the natural gas distribution assets, which qualified as held for sale as of December 31, 2014. | ||||||||||||||||||||||||||||||||||||
The electric distribution asset sales agreement includes a wholesale power supply agreement between IPL and Southern Minnesota Energy Cooperative, which is subject to FERC approval. The agreement contains a five-year termination notice, which may not be given until the fifth anniversary of the effective date of the agreement, resulting in a minimum term of 10 years. The agreement remains in effect indefinitely, unless notice to terminate is provided by either party. This wholesale power supply agreement includes standardized pricing mechanisms that are detailed in IPL’s current tariffs accepted by FERC through wholesale rate case proceedings. IPL’s current return on common equity authorized by FERC related to its wholesale electric rates is 10.97%. As a result of IPL’s requirement to supply electricity to Southern Minnesota Energy Cooperative under the wholesale power supply agreement, the sale of the electric distribution assets is not expected to have a significant impact on IPL’s current generation plans or operating results. | ||||||||||||||||||||||||||||||||||||
AFUDC - AFUDC represents costs to finance construction additions including a return on equity component and cost of debt component as required by regulatory accounting. The concurrent credit for the amount of AFUDC capitalized is recorded as “Allowance for funds used during construction” in the income statements. The amount of AFUDC generated by equity and debt components was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Equity | $23.10 | $20.30 | $14.10 | $17.10 | $13.80 | $5.20 | $6.00 | $6.50 | $8.90 | |||||||||||||||||||||||||||
Debt | 11.7 | 10.5 | 7.8 | 8.8 | 7.2 | 3.2 | 2.9 | 3.3 | 4.6 | |||||||||||||||||||||||||||
$34.80 | $30.80 | $21.90 | $25.90 | $21.00 | $8.40 | $8.90 | $9.80 | $13.50 | ||||||||||||||||||||||||||||
AFUDC related to various construction projects was recognized in the income statements as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Ottumwa Unit 1 | $10.60 | $8.00 | $2.00 | |||||||||||||||||||||||||||||||||
Emission controls - George Neal Units 3 and 4 | 1.4 | 5.1 | 0.9 | |||||||||||||||||||||||||||||||||
Marshalltown | 3.7 | — | — | |||||||||||||||||||||||||||||||||
Other | 10.2 | 7.9 | 5.5 | |||||||||||||||||||||||||||||||||
25.9 | 21 | 8.4 | ||||||||||||||||||||||||||||||||||
WPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Columbia Units 1 and 2 | 4 | 7.2 | 3.9 | |||||||||||||||||||||||||||||||||
Emission controls - Edgewater Unit 5 | 2.7 | — | 7.2 | |||||||||||||||||||||||||||||||||
Other | 2.2 | 2.6 | 2.4 | |||||||||||||||||||||||||||||||||
8.9 | 9.8 | 13.5 | ||||||||||||||||||||||||||||||||||
Alliant Energy | $34.80 | $30.80 | $21.90 | |||||||||||||||||||||||||||||||||
In addition to the emission controls projects discussed above that were placed in service in 2014, a scrubber and baghouse was placed in service at IPL’s George Neal Unit 4 in 2013 and an SCR was placed in service at WPL’s Edgewater Unit 5 in 2012. |
JointlyOwned_Electric_Utility_
Jointly-Owned Electric Utility Plant | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Jointly-Owned Electric Utility Plant | JOINTLY-OWNED ELECTRIC UTILITY PLANT | ||||||||||||||||||||
Under joint ownership agreements with other utilities, IPL and WPL have undivided ownership interests in jointly-owned coal-fired EGUs. Each of the respective owners is responsible for the financing of its portion of the construction costs. KWh generation and operating expenses are primarily divided between the joint owners on the same basis as ownership. IPL’s and WPL’s shares of expenses from jointly-owned coal-fired EGUs are included in the corresponding operating expenses (e.g., electric production fuel, other operation and maintenance, etc.) in their income statements. Refer to Note 2 for further discussion of cost of removal obligations. Information relative to IPL’s and WPL’s ownership interest in these jointly-owned coal-fired EGUs at December 31, 2014 was as follows (dollars in millions): | |||||||||||||||||||||
Accumulated | Construction | Cost of Removal | |||||||||||||||||||
In-service | Ownership | Electric | Provision for | Work in | Obligations Included in | ||||||||||||||||
Dates | Interest % | Plant | Depreciation | Progress | Regulatory Liabilities | ||||||||||||||||
IPL | |||||||||||||||||||||
Ottumwa Unit 1 | 1981 | 48 | % | $488.70 | $131.60 | $1.40 | $11.00 | ||||||||||||||
George Neal Unit 4 | 1979 | 25.7 | % | 183.3 | 71.3 | 0.3 | 12.3 | ||||||||||||||
George Neal Unit 3 | 1975 | 28 | % | 135.2 | 41.3 | 1.4 | 6 | ||||||||||||||
Louisa Unit 1 | 1983 | 4 | % | 35.4 | 20.4 | 0.1 | 3.3 | ||||||||||||||
842.6 | 264.6 | 3.2 | 32.6 | ||||||||||||||||||
WPL | |||||||||||||||||||||
Columbia Units 1-2 | 1975-1978 | 46.2 | % | 549 | 166.8 | 18.9 | 10.2 | ||||||||||||||
Edgewater Unit 4 | 1969 | 68.2 | % | 96.5 | 55.4 | 0.3 | 2.5 | ||||||||||||||
645.5 | 222.2 | 19.2 | 12.7 | ||||||||||||||||||
Alliant Energy | $1,488.10 | $486.80 | $22.40 | $45.30 | |||||||||||||||||
IPL [Member] | |||||||||||||||||||||
Jointly-Owned Electric Utility Plant | JOINTLY-OWNED ELECTRIC UTILITY PLANT | ||||||||||||||||||||
Under joint ownership agreements with other utilities, IPL and WPL have undivided ownership interests in jointly-owned coal-fired EGUs. Each of the respective owners is responsible for the financing of its portion of the construction costs. KWh generation and operating expenses are primarily divided between the joint owners on the same basis as ownership. IPL’s and WPL’s shares of expenses from jointly-owned coal-fired EGUs are included in the corresponding operating expenses (e.g., electric production fuel, other operation and maintenance, etc.) in their income statements. Refer to Note 2 for further discussion of cost of removal obligations. Information relative to IPL’s and WPL’s ownership interest in these jointly-owned coal-fired EGUs at December 31, 2014 was as follows (dollars in millions): | |||||||||||||||||||||
Accumulated | Construction | Cost of Removal | |||||||||||||||||||
In-service | Ownership | Electric | Provision for | Work in | Obligations Included in | ||||||||||||||||
Dates | Interest % | Plant | Depreciation | Progress | Regulatory Liabilities | ||||||||||||||||
IPL | |||||||||||||||||||||
Ottumwa Unit 1 | 1981 | 48 | % | $488.70 | $131.60 | $1.40 | $11.00 | ||||||||||||||
George Neal Unit 4 | 1979 | 25.7 | % | 183.3 | 71.3 | 0.3 | 12.3 | ||||||||||||||
George Neal Unit 3 | 1975 | 28 | % | 135.2 | 41.3 | 1.4 | 6 | ||||||||||||||
Louisa Unit 1 | 1983 | 4 | % | 35.4 | 20.4 | 0.1 | 3.3 | ||||||||||||||
842.6 | 264.6 | 3.2 | 32.6 | ||||||||||||||||||
WPL | |||||||||||||||||||||
Columbia Units 1-2 | 1975-1978 | 46.2 | % | 549 | 166.8 | 18.9 | 10.2 | ||||||||||||||
Edgewater Unit 4 | 1969 | 68.2 | % | 96.5 | 55.4 | 0.3 | 2.5 | ||||||||||||||
645.5 | 222.2 | 19.2 | 12.7 | ||||||||||||||||||
Alliant Energy | $1,488.10 | $486.80 | $22.40 | $45.30 | |||||||||||||||||
WPL [Member] | |||||||||||||||||||||
Jointly-Owned Electric Utility Plant | JOINTLY-OWNED ELECTRIC UTILITY PLANT | ||||||||||||||||||||
Under joint ownership agreements with other utilities, IPL and WPL have undivided ownership interests in jointly-owned coal-fired EGUs. Each of the respective owners is responsible for the financing of its portion of the construction costs. KWh generation and operating expenses are primarily divided between the joint owners on the same basis as ownership. IPL’s and WPL’s shares of expenses from jointly-owned coal-fired EGUs are included in the corresponding operating expenses (e.g., electric production fuel, other operation and maintenance, etc.) in their income statements. Refer to Note 2 for further discussion of cost of removal obligations. Information relative to IPL’s and WPL’s ownership interest in these jointly-owned coal-fired EGUs at December 31, 2014 was as follows (dollars in millions): | |||||||||||||||||||||
Accumulated | Construction | Cost of Removal | |||||||||||||||||||
In-service | Ownership | Electric | Provision for | Work in | Obligations Included in | ||||||||||||||||
Dates | Interest % | Plant | Depreciation | Progress | Regulatory Liabilities | ||||||||||||||||
IPL | |||||||||||||||||||||
Ottumwa Unit 1 | 1981 | 48 | % | $488.70 | $131.60 | $1.40 | $11.00 | ||||||||||||||
George Neal Unit 4 | 1979 | 25.7 | % | 183.3 | 71.3 | 0.3 | 12.3 | ||||||||||||||
George Neal Unit 3 | 1975 | 28 | % | 135.2 | 41.3 | 1.4 | 6 | ||||||||||||||
Louisa Unit 1 | 1983 | 4 | % | 35.4 | 20.4 | 0.1 | 3.3 | ||||||||||||||
842.6 | 264.6 | 3.2 | 32.6 | ||||||||||||||||||
WPL | |||||||||||||||||||||
Columbia Units 1-2 | 1975-1978 | 46.2 | % | 549 | 166.8 | 18.9 | 10.2 | ||||||||||||||
Edgewater Unit 4 | 1969 | 68.2 | % | 96.5 | 55.4 | 0.3 | 2.5 | ||||||||||||||
645.5 | 222.2 | 19.2 | 12.7 | ||||||||||||||||||
Alliant Energy | $1,488.10 | $486.80 | $22.40 | $45.30 | |||||||||||||||||
Receivables
Receivables | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||
Receivables | RECEIVABLES | |||||||||||||||||||||||
(a) Accounts Receivable - Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer, less allowance for doubtful accounts | $84.50 | $81.80 | $— | $— | $77.30 | $73.00 | ||||||||||||||||||
Unbilled utility revenues | 85.4 | 92.3 | — | — | 85.4 | 92.3 | ||||||||||||||||||
Deferred proceeds | 177.2 | 203.5 | 177.2 | 203.5 | — | — | ||||||||||||||||||
Other, less allowance for doubtful accounts | 80.2 | 95.7 | 39.5 | 43.4 | 23.1 | 33.1 | ||||||||||||||||||
$427.30 | $473.30 | $216.70 | $246.90 | $185.80 | $198.40 | |||||||||||||||||||
Allowance for doubtful accounts at December 31 was as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer | $3.70 | $1.40 | $— | $— | $3.70 | $1.40 | ||||||||||||||||||
Other | 1.4 | 3.4 | 0.4 | 0.7 | 0.5 | 0.3 | ||||||||||||||||||
$5.10 | $4.80 | $0.40 | $0.70 | $4.20 | $1.70 | |||||||||||||||||||
(b) Sales of Accounts Receivable - IPL maintains a Receivables Agreement whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. IPL pays a monthly fee to the third party that varies based on interest rates, seasonal limits on cash proceeds and the amount of cash proceeds received from the third party. In March 2014, IPL extended through March 2016 the purchase commitment from the third party to which it sells its receivables. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In exchange for the receivables sold, IPL receives cash proceeds of up to $180 million from the third party. Cash proceeds are used by IPL to meet short-term financing needs, and cannot exceed the current seasonal limit or amount of receivables available for sale, whichever is less. The seasonal limit on cash proceeds as of December 31, 2014 was $150 million. | ||||||||||||||||||||||||
As of December 31, 2014, IPL sold $204.6 million of receivables to the third party, received $22.0 million in cash proceeds and recorded deferred proceeds of $177.2 million. Deferred proceeds represent IPL’s interest in the receivables sold to the third party. At IPL’s request, deferred proceeds are paid to IPL from collections of receivables, after paying any required expenses incurred by the third party and the collection agent. Corporate Services acts as collection agent for the third party and receives a fee for collection services. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of credit risk of the customers that generated the receivables. Refer to Note 14 for discussion of the fair value of deferred proceeds. | ||||||||||||||||||||||||
IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) | $150.00 | $170.00 | $160.00 | |||||||||||||||||||||
Average outstanding aggregate cash proceeds (based on daily outstanding balances) | 46.4 | 105.9 | 119.8 | |||||||||||||||||||||
In 2014, 2013 and 2012, IPL’s costs incurred related to the sales of accounts receivable program were not material. | ||||||||||||||||||||||||
As of December 31, the attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Customer accounts receivable | $134.80 | $151.60 | ||||||||||||||||||||||
Unbilled utility revenues | 69.7 | 86.2 | ||||||||||||||||||||||
Other receivables | 0.1 | 0.2 | ||||||||||||||||||||||
Receivables sold to third party | 204.6 | 238 | ||||||||||||||||||||||
Less: cash proceeds (a) | 22 | 29 | ||||||||||||||||||||||
Deferred proceeds | 182.6 | 209 | ||||||||||||||||||||||
Less: allowance for doubtful accounts | 5.4 | 5.5 | ||||||||||||||||||||||
Fair value of deferred proceeds | $177.20 | $203.50 | ||||||||||||||||||||||
Outstanding receivables past due | $19.90 | $21.50 | ||||||||||||||||||||||
(a) | Changes in cash proceeds are presented in “Sales of accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements. | |||||||||||||||||||||||
Refer to Note 9(b) for discussion of IPL’s issuance of $250 million of senior debentures in 2014. A portion of the proceeds from the issuance was used by IPL in 2014 to reduce cash proceeds received from the third party under its sales of accounts receivable program. | ||||||||||||||||||||||||
Additional attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Collections reinvested in receivables | $1,997.90 | $1,880.80 | $1,771.60 | |||||||||||||||||||||
Credit losses, net of recoveries | 11.4 | 11.9 | 10 | |||||||||||||||||||||
(c) Whiting Petroleum Tax Sharing Agreement - Prior to an initial public offering of Whiting Petroleum in 2003, Alliant Energy and Whiting Petroleum entered into a tax separation and indemnification agreement pursuant to which Alliant Energy and Whiting Petroleum made certain tax elections. These tax elections had the effect of increasing the tax basis of the assets of Whiting Petroleum’s consolidated tax group based on the sales price of Whiting Petroleum’s shares in the initial public offering. The increase in the tax basis of the assets was included in income in Alliant Energy’s U.S. federal income tax return for the calendar year 2003. Pursuant to the tax separation and indemnification agreement, Whiting Petroleum paid Resources the final payment of $26 million in 2014, which represented the present value of certain future tax benefits expected to be realized by Whiting Petroleum through future tax deductions. The final payment resulted in a decrease in “Current assets - Other” on Alliant Energy’s balance sheet in 2014. The $26 million received by Alliant Energy is presented in operating activities in its cash flows statement in 2014. | ||||||||||||||||||||||||
(d) Franklin County Wind Project Cash Grant - The ARRA provides incentives for wind projects placed into service between January 1, 2009 and December 31, 2012. In accordance with the ARRA, Alliant Energy filed an application with the U.S. Department of the Treasury in February 2013 requesting a cash grant for a portion of the qualifying project expenditures of the Franklin County wind project that was placed into service in December 2012. Alliant Energy elected to record the anticipated cash grant as a reduction of the carrying value of the Franklin County wind project. In 2013, Alliant Energy received $62.4 million of proceeds from the cash grant, which are presented in investing activities in Alliant Energy’s cash flows statement in 2013. The grant proceeds were used by Alliant Energy to reduce short-term borrowings incurred during the construction of the wind project. | ||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||
Receivables | RECEIVABLES | |||||||||||||||||||||||
(a) Accounts Receivable - Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer, less allowance for doubtful accounts | $84.50 | $81.80 | $— | $— | $77.30 | $73.00 | ||||||||||||||||||
Unbilled utility revenues | 85.4 | 92.3 | — | — | 85.4 | 92.3 | ||||||||||||||||||
Deferred proceeds | 177.2 | 203.5 | 177.2 | 203.5 | — | — | ||||||||||||||||||
Other, less allowance for doubtful accounts | 80.2 | 95.7 | 39.5 | 43.4 | 23.1 | 33.1 | ||||||||||||||||||
$427.30 | $473.30 | $216.70 | $246.90 | $185.80 | $198.40 | |||||||||||||||||||
Allowance for doubtful accounts at December 31 was as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer | $3.70 | $1.40 | $— | $— | $3.70 | $1.40 | ||||||||||||||||||
Other | 1.4 | 3.4 | 0.4 | 0.7 | 0.5 | 0.3 | ||||||||||||||||||
$5.10 | $4.80 | $0.40 | $0.70 | $4.20 | $1.70 | |||||||||||||||||||
(b) Sales of Accounts Receivable - IPL maintains a Receivables Agreement whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. IPL pays a monthly fee to the third party that varies based on interest rates, seasonal limits on cash proceeds and the amount of cash proceeds received from the third party. In March 2014, IPL extended through March 2016 the purchase commitment from the third party to which it sells its receivables. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In exchange for the receivables sold, IPL receives cash proceeds of up to $180 million from the third party. Cash proceeds are used by IPL to meet short-term financing needs, and cannot exceed the current seasonal limit or amount of receivables available for sale, whichever is less. The seasonal limit on cash proceeds as of December 31, 2014 was $150 million. | ||||||||||||||||||||||||
As of December 31, 2014, IPL sold $204.6 million of receivables to the third party, received $22.0 million in cash proceeds and recorded deferred proceeds of $177.2 million. Deferred proceeds represent IPL’s interest in the receivables sold to the third party. At IPL’s request, deferred proceeds are paid to IPL from collections of receivables, after paying any required expenses incurred by the third party and the collection agent. Corporate Services acts as collection agent for the third party and receives a fee for collection services. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of credit risk of the customers that generated the receivables. Refer to Note 14 for discussion of the fair value of deferred proceeds. | ||||||||||||||||||||||||
IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) | $150.00 | $170.00 | $160.00 | |||||||||||||||||||||
Average outstanding aggregate cash proceeds (based on daily outstanding balances) | 46.4 | 105.9 | 119.8 | |||||||||||||||||||||
In 2014, 2013 and 2012, IPL’s costs incurred related to the sales of accounts receivable program were not material. | ||||||||||||||||||||||||
As of December 31, the attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Customer accounts receivable | $134.80 | $151.60 | ||||||||||||||||||||||
Unbilled utility revenues | 69.7 | 86.2 | ||||||||||||||||||||||
Other receivables | 0.1 | 0.2 | ||||||||||||||||||||||
Receivables sold to third party | 204.6 | 238 | ||||||||||||||||||||||
Less: cash proceeds (a) | 22 | 29 | ||||||||||||||||||||||
Deferred proceeds | 182.6 | 209 | ||||||||||||||||||||||
Less: allowance for doubtful accounts | 5.4 | 5.5 | ||||||||||||||||||||||
Fair value of deferred proceeds | $177.20 | $203.50 | ||||||||||||||||||||||
Outstanding receivables past due | $19.90 | $21.50 | ||||||||||||||||||||||
(a) | Changes in cash proceeds are presented in “Sales of accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements. | |||||||||||||||||||||||
Refer to Note 9(b) for discussion of IPL’s issuance of $250 million of senior debentures in 2014. A portion of the proceeds from the issuance was used by IPL in 2014 to reduce cash proceeds received from the third party under its sales of accounts receivable program. | ||||||||||||||||||||||||
Additional attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Collections reinvested in receivables | $1,997.90 | $1,880.80 | $1,771.60 | |||||||||||||||||||||
Credit losses, net of recoveries | 11.4 | 11.9 | 10 | |||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||
Receivables | RECEIVABLES | |||||||||||||||||||||||
(a) Accounts Receivable - Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer, less allowance for doubtful accounts | $84.50 | $81.80 | $— | $— | $77.30 | $73.00 | ||||||||||||||||||
Unbilled utility revenues | 85.4 | 92.3 | — | — | 85.4 | 92.3 | ||||||||||||||||||
Deferred proceeds | 177.2 | 203.5 | 177.2 | 203.5 | — | — | ||||||||||||||||||
Other, less allowance for doubtful accounts | 80.2 | 95.7 | 39.5 | 43.4 | 23.1 | 33.1 | ||||||||||||||||||
$427.30 | $473.30 | $216.70 | $246.90 | $185.80 | $198.40 | |||||||||||||||||||
Allowance for doubtful accounts at December 31 was as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer | $3.70 | $1.40 | $— | $— | $3.70 | $1.40 | ||||||||||||||||||
Other | 1.4 | 3.4 | 0.4 | 0.7 | 0.5 | 0.3 | ||||||||||||||||||
$5.10 | $4.80 | $0.40 | $0.70 | $4.20 | $1.70 | |||||||||||||||||||
Investments
Investments | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Investments | INVESTMENTS | |||||||||||||||||||||||
(a) Unconsolidated Equity Investments - Alliant Energy’s and WPL’s unconsolidated investments accounted for under the equity method of accounting are as follows (in millions): | ||||||||||||||||||||||||
Ownership | Carrying Value at | |||||||||||||||||||||||
Interest at | December 31, | Equity (Income) / Loss | ||||||||||||||||||||||
December 31, 2014 | 2014 | 2013 | 2014 | 2013 | 2012 | |||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||
ATC (a) | 16% | $286.50 | $272.10 | ($41.9 | ) | ($42.7 | ) | ($41.3 | ) | |||||||||||||||
Wisconsin River Power Company | 50% | 7.8 | 7 | (0.9 | ) | (1.0 | ) | (0.8 | ) | |||||||||||||||
Other | Various | 2.3 | 2.3 | 2.4 | — | 0.8 | ||||||||||||||||||
$296.60 | $281.40 | ($40.4 | ) | ($43.7 | ) | ($41.3 | ) | |||||||||||||||||
WPL | ||||||||||||||||||||||||
ATC (a) | 16% | $286.50 | $272.10 | ($41.9 | ) | ($42.7 | ) | ($41.3 | ) | |||||||||||||||
Wisconsin River Power Company | 50% | 7.8 | 7 | (0.9 | ) | (1.0 | ) | (0.8 | ) | |||||||||||||||
$294.30 | $279.10 | ($42.8 | ) | ($43.7 | ) | ($42.1 | ) | |||||||||||||||||
(a) | Alliant Energy and WPL have the ability to exercise significant influence over ATC’s financial and operating policies through their participation on ATC’s Board of Directors. Refer to Note 18 for information regarding related party transactions with ATC. | |||||||||||||||||||||||
Summary aggregate financial information from the financial statements of these investments is as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Operating revenues | $643 | $634 | $611 | $643 | $634 | $611 | ||||||||||||||||||
Operating income | 330 | 334 | 326 | 330 | 334 | 325 | ||||||||||||||||||
Net income | 240 | 248 | 234 | 240 | 250 | 239 | ||||||||||||||||||
As of December 31: | ||||||||||||||||||||||||
Current assets | 72 | 86 | 70 | 84 | ||||||||||||||||||||
Non-current assets | 3,773 | 3,553 | 3,747 | 3,527 | ||||||||||||||||||||
Current liabilities | 315 | 383 | 315 | 383 | ||||||||||||||||||||
Non-current liabilities | 1,871 | 1,682 | 1,870 | 1,681 | ||||||||||||||||||||
WPL’s Noncontrolling Interest - Prior to 2014, WPL owned 100% of WPL Transco, which holds Alliant Energy’s investment in ATC. In January 2014, WPL Transco’s operating agreement was amended to allow ATI, a wholly-owned subsidiary of Resources, to become a member of WPL Transco in addition to WPL. In 2014, ATI began funding capital contributions that WPL Transco makes to ATC. As of December 31, 2014, WPL’s and ATI’s ownership interests in WPL Transco were approximately 95% and 5%, respectively. WPL continues to consolidate WPL Transco and as a result, ATI’s ownership interest in WPL Transco was recorded as a noncontrolling interest in total equity on WPL’s balance sheet as of December 31, 2014. | ||||||||||||||||||||||||
In 2014, WPL Transco’s equity income from ATC and ATC dividends received by WPL Transco were allocated between WPL and ATI based on their respective ownership interests at the time the equity income was generated and at the time of the dividend payments. ATI’s ownership interest in WPL Transco is expected to increase as a result of future capital contributions to WPL Transco. Alliant Energy’s aggregate ownership percentage in ATC is not expected to change as a result of WPL Transco’s amended operating agreement. | ||||||||||||||||||||||||
(b) Cash Surrender Value of Life Insurance Policies - Various life insurance policies cover certain current and former employees and directors. At December 31, the cash surrender value of these investments was as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cash surrender value | $47.00 | $46.50 | $18.10 | $17.30 | $11.40 | $12.30 | ||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Investments | INVESTMENTS | |||||||||||||||||||||||
(b) Cash Surrender Value of Life Insurance Policies - Various life insurance policies cover certain current and former employees and directors. At December 31, the cash surrender value of these investments was as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cash surrender value | $47.00 | $46.50 | $18.10 | $17.30 | $11.40 | $12.30 | ||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Investments | INVESTMENTS | |||||||||||||||||||||||
(a) Unconsolidated Equity Investments - Alliant Energy’s and WPL’s unconsolidated investments accounted for under the equity method of accounting are as follows (in millions): | ||||||||||||||||||||||||
Ownership | Carrying Value at | |||||||||||||||||||||||
Interest at | December 31, | Equity (Income) / Loss | ||||||||||||||||||||||
December 31, 2014 | 2014 | 2013 | 2014 | 2013 | 2012 | |||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||
ATC (a) | 16% | $286.50 | $272.10 | ($41.9 | ) | ($42.7 | ) | ($41.3 | ) | |||||||||||||||
Wisconsin River Power Company | 50% | 7.8 | 7 | (0.9 | ) | (1.0 | ) | (0.8 | ) | |||||||||||||||
Other | Various | 2.3 | 2.3 | 2.4 | — | 0.8 | ||||||||||||||||||
$296.60 | $281.40 | ($40.4 | ) | ($43.7 | ) | ($41.3 | ) | |||||||||||||||||
WPL | ||||||||||||||||||||||||
ATC (a) | 16% | $286.50 | $272.10 | ($41.9 | ) | ($42.7 | ) | ($41.3 | ) | |||||||||||||||
Wisconsin River Power Company | 50% | 7.8 | 7 | (0.9 | ) | (1.0 | ) | (0.8 | ) | |||||||||||||||
$294.30 | $279.10 | ($42.8 | ) | ($43.7 | ) | ($42.1 | ) | |||||||||||||||||
(a) | Alliant Energy and WPL have the ability to exercise significant influence over ATC’s financial and operating policies through their participation on ATC’s Board of Directors. Refer to Note 18 for information regarding related party transactions with ATC. | |||||||||||||||||||||||
Summary aggregate financial information from the financial statements of these investments is as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Operating revenues | $643 | $634 | $611 | $643 | $634 | $611 | ||||||||||||||||||
Operating income | 330 | 334 | 326 | 330 | 334 | 325 | ||||||||||||||||||
Net income | 240 | 248 | 234 | 240 | 250 | 239 | ||||||||||||||||||
As of December 31: | ||||||||||||||||||||||||
Current assets | 72 | 86 | 70 | 84 | ||||||||||||||||||||
Non-current assets | 3,773 | 3,553 | 3,747 | 3,527 | ||||||||||||||||||||
Current liabilities | 315 | 383 | 315 | 383 | ||||||||||||||||||||
Non-current liabilities | 1,871 | 1,682 | 1,870 | 1,681 | ||||||||||||||||||||
WPL’s Noncontrolling Interest - Prior to 2014, WPL owned 100% of WPL Transco, which holds Alliant Energy’s investment in ATC. In January 2014, WPL Transco’s operating agreement was amended to allow ATI, a wholly-owned subsidiary of Resources, to become a member of WPL Transco in addition to WPL. In 2014, ATI began funding capital contributions that WPL Transco makes to ATC. As of December 31, 2014, WPL’s and ATI’s ownership interests in WPL Transco were approximately 95% and 5%, respectively. WPL continues to consolidate WPL Transco and as a result, ATI’s ownership interest in WPL Transco was recorded as a noncontrolling interest in total equity on WPL’s balance sheet as of December 31, 2014. | ||||||||||||||||||||||||
In 2014, WPL Transco’s equity income from ATC and ATC dividends received by WPL Transco were allocated between WPL and ATI based on their respective ownership interests at the time the equity income was generated and at the time of the dividend payments. ATI’s ownership interest in WPL Transco is expected to increase as a result of future capital contributions to WPL Transco. Alliant Energy’s aggregate ownership percentage in ATC is not expected to change as a result of WPL Transco’s amended operating agreement. | ||||||||||||||||||||||||
(b) Cash Surrender Value of Life Insurance Policies - Various life insurance policies cover certain current and former employees and directors. At December 31, the cash surrender value of these investments was as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cash surrender value | $47.00 | $46.50 | $18.10 | $17.30 | $11.40 | $12.30 |
Common_Equity
Common Equity | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Schedule of Common Equity [Line Items] | ||||||||||||||||||||||||||||||||||||
Common Equity | COMMON EQUITY | |||||||||||||||||||||||||||||||||||
Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares outstanding, January 1 | 110,943,669 | 110,987,400 | 111,018,821 | |||||||||||||||||||||||||||||||||
Equity-based compensation plans (Note 12(b)) | 35,547 | (23,374 | ) | 20,195 | ||||||||||||||||||||||||||||||||
Other | (43,536 | ) | (20,357 | ) | (51,616 | ) | ||||||||||||||||||||||||||||||
Shares outstanding, December 31 | 110,935,680 | 110,943,669 | 110,987,400 | |||||||||||||||||||||||||||||||||
At December 31, 2014, Alliant Energy had a total of 7.8 million shares available for issuance in the aggregate, pursuant to its OIP, Shareowner Direct Plan and 401(k) Savings Plan. | ||||||||||||||||||||||||||||||||||||
Shareowner Rights Agreement - Alliant Energy has established an amended and restated Shareowner Rights Agreement. The rights under this agreement will only become exercisable if a person or group has acquired, or announced an intention to acquire, 15% or more of Alliant Energy’s outstanding common stock. Each right will initially entitle registered shareowners to purchase from Alliant Energy one-half of one share of Alliant Energy’s common stock. The rights will be exercisable at an initial price of $110.00 per full share, subject to adjustment. If any shareowner acquires 15% or more of the outstanding common stock of Alliant Energy, each right (subject to limitations) will entitle its holder to purchase, at the right’s then current exercise price, a number of common shares of Alliant Energy or of the acquirer having a market value at the time of twice the right’s per full share exercise price. Alliant Energy’s Board of Directors is authorized to reduce the 15% ownership threshold to not less than 10%. The amended and restated Shareowner Rights Agreement expires in December 2018. | ||||||||||||||||||||||||||||||||||||
Dividend Restrictions - Alliant Energy does not have any significant common stock dividend restrictions. IPL and WPL each have common stock dividend restrictions based on applicable regulatory limitations. IPL also has common stock dividend restrictions based on the terms of its outstanding preferred stock. As of December 31, 2014, IPL and WPL were in compliance with all such dividend restrictions. | ||||||||||||||||||||||||||||||||||||
IPL is restricted from paying common stock dividends to its parent company, Alliant Energy, if for any past or current dividend period, dividends on its preferred stock have not been paid, or declared and set apart for payment. IPL has paid all dividends on its preferred stock through 2014. | ||||||||||||||||||||||||||||||||||||
Under the Federal Power Act, IPL may not pay dividends to its parent company in excess of the current amount of its retained earnings. Another limitation on IPL’s distributions to its parent company requires IPL to obtain IUB approval for a reasonable utility capital structure if its actual 13-month average common equity ratio (calculated on a financial basis consistent with IPL’s rate cases) falls below 42% of total capitalization. As of December 31, 2014, IPL’s amount of retained earnings that were free of dividend restrictions was $538 million. | ||||||||||||||||||||||||||||||||||||
Currently, WPL has a regulatory limitation on distributions to its parent company from an order issued by the PSCW in July 2014. The order prohibits WPL from paying annual common stock dividends to its parent company in excess of $127 million in 2015 and $135 million in 2016 if WPL’s actual 13-month average common equity ratio (calculated on a financial basis consistent with WPL’s rate cases) would fall below 51.79% for 2015 and 52.25% for 2016. As of December 31, 2014, WPL’s amount of retained earnings that were free of dividend restrictions was $127 million for 2015. | ||||||||||||||||||||||||||||||||||||
Restricted Net Assets of Subsidiaries - IPL and WPL do not have regulatory authority to lend or advance any amounts to their parent company. As of December 31, the amount of net assets of IPL and WPL that were not available to be transferred to their parent company, Alliant Energy, in the form of loans, advances or cash dividends without the consent of IPL’s and WPL’s regulatory authorities was as follows (in billions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
IPL | $1.30 | $1.20 | ||||||||||||||||||||||||||||||||||
WPL | 1.6 | 1.5 | ||||||||||||||||||||||||||||||||||
Capital Transactions With Subsidiaries - IPL, WPL and Resources paid common stock dividends and repayments of capital to their parent company, Alliant Energy, as follows (in millions): | ||||||||||||||||||||||||||||||||||||
IPL | WPL | Resources | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Common stock dividends | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $— | $— | $— | |||||||||||||||||||||||||||
Repayments of capital | — | — | — | — | — | — | 50 | 95 | — | |||||||||||||||||||||||||||
Total distributions from common equity | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $50.00 | $95.00 | $— | |||||||||||||||||||||||||||
IPL, WPL and Corporate Services received capital contributions from their parent company, Alliant Energy, as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL | $90.00 | $120.00 | $110.00 | |||||||||||||||||||||||||||||||||
WPL | — | — | 90 | |||||||||||||||||||||||||||||||||
Corporate Services | — | — | 30 | |||||||||||||||||||||||||||||||||
Comprehensive Income - In 2014, 2013 and 2012, Alliant Energy’s other comprehensive income (loss) was ($0.4) million, $0.6 million and $0, respectively; therefore, its comprehensive income was substantially equal to its net income and its comprehensive income attributable to Alliant Energy common shareowners was substantially equal to its net income attributable to Alliant Energy common shareowners for such periods. In 2014, 2013 and 2012, IPL and WPL had no other comprehensive income; therefore their comprehensive income was equal to their net income and their comprehensive income available for common stock was equal to their earnings available for common stock for such periods. | ||||||||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Schedule of Common Equity [Line Items] | ||||||||||||||||||||||||||||||||||||
Common Equity | COMMON EQUITY | |||||||||||||||||||||||||||||||||||
Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares outstanding, January 1 | 110,943,669 | 110,987,400 | 111,018,821 | |||||||||||||||||||||||||||||||||
Equity-based compensation plans (Note 12(b)) | 35,547 | (23,374 | ) | 20,195 | ||||||||||||||||||||||||||||||||
Other | (43,536 | ) | (20,357 | ) | (51,616 | ) | ||||||||||||||||||||||||||||||
Shares outstanding, December 31 | 110,935,680 | 110,943,669 | 110,987,400 | |||||||||||||||||||||||||||||||||
At December 31, 2014, Alliant Energy had a total of 7.8 million shares available for issuance in the aggregate, pursuant to its OIP, Shareowner Direct Plan and 401(k) Savings Plan. | ||||||||||||||||||||||||||||||||||||
Shareowner Rights Agreement - Alliant Energy has established an amended and restated Shareowner Rights Agreement. The rights under this agreement will only become exercisable if a person or group has acquired, or announced an intention to acquire, 15% or more of Alliant Energy’s outstanding common stock. Each right will initially entitle registered shareowners to purchase from Alliant Energy one-half of one share of Alliant Energy’s common stock. The rights will be exercisable at an initial price of $110.00 per full share, subject to adjustment. If any shareowner acquires 15% or more of the outstanding common stock of Alliant Energy, each right (subject to limitations) will entitle its holder to purchase, at the right’s then current exercise price, a number of common shares of Alliant Energy or of the acquirer having a market value at the time of twice the right’s per full share exercise price. Alliant Energy’s Board of Directors is authorized to reduce the 15% ownership threshold to not less than 10%. The amended and restated Shareowner Rights Agreement expires in December 2018. | ||||||||||||||||||||||||||||||||||||
Dividend Restrictions - Alliant Energy does not have any significant common stock dividend restrictions. IPL and WPL each have common stock dividend restrictions based on applicable regulatory limitations. IPL also has common stock dividend restrictions based on the terms of its outstanding preferred stock. As of December 31, 2014, IPL and WPL were in compliance with all such dividend restrictions. | ||||||||||||||||||||||||||||||||||||
IPL is restricted from paying common stock dividends to its parent company, Alliant Energy, if for any past or current dividend period, dividends on its preferred stock have not been paid, or declared and set apart for payment. IPL has paid all dividends on its preferred stock through 2014. | ||||||||||||||||||||||||||||||||||||
Under the Federal Power Act, IPL may not pay dividends to its parent company in excess of the current amount of its retained earnings. Another limitation on IPL’s distributions to its parent company requires IPL to obtain IUB approval for a reasonable utility capital structure if its actual 13-month average common equity ratio (calculated on a financial basis consistent with IPL’s rate cases) falls below 42% of total capitalization. As of December 31, 2014, IPL’s amount of retained earnings that were free of dividend restrictions was $538 million. | ||||||||||||||||||||||||||||||||||||
Currently, WPL has a regulatory limitation on distributions to its parent company from an order issued by the PSCW in July 2014. The order prohibits WPL from paying annual common stock dividends to its parent company in excess of $127 million in 2015 and $135 million in 2016 if WPL’s actual 13-month average common equity ratio (calculated on a financial basis consistent with WPL’s rate cases) would fall below 51.79% for 2015 and 52.25% for 2016. As of December 31, 2014, WPL’s amount of retained earnings that were free of dividend restrictions was $127 million for 2015. | ||||||||||||||||||||||||||||||||||||
Restricted Net Assets of Subsidiaries - IPL and WPL do not have regulatory authority to lend or advance any amounts to their parent company. As of December 31, the amount of net assets of IPL and WPL that were not available to be transferred to their parent company, Alliant Energy, in the form of loans, advances or cash dividends without the consent of IPL’s and WPL’s regulatory authorities was as follows (in billions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
IPL | $1.30 | $1.20 | ||||||||||||||||||||||||||||||||||
WPL | 1.6 | 1.5 | ||||||||||||||||||||||||||||||||||
Capital Transactions With Subsidiaries - IPL, WPL and Resources paid common stock dividends and repayments of capital to their parent company, Alliant Energy, as follows (in millions): | ||||||||||||||||||||||||||||||||||||
IPL | WPL | Resources | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Common stock dividends | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $— | $— | $— | |||||||||||||||||||||||||||
Repayments of capital | — | — | — | — | — | — | 50 | 95 | — | |||||||||||||||||||||||||||
Total distributions from common equity | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $50.00 | $95.00 | $— | |||||||||||||||||||||||||||
IPL, WPL and Corporate Services received capital contributions from their parent company, Alliant Energy, as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL | $90.00 | $120.00 | $110.00 | |||||||||||||||||||||||||||||||||
WPL | — | — | 90 | |||||||||||||||||||||||||||||||||
Corporate Services | — | — | 30 | |||||||||||||||||||||||||||||||||
Comprehensive Income - In 2014, 2013 and 2012, Alliant Energy’s other comprehensive income (loss) was ($0.4) million, $0.6 million and $0, respectively; therefore, its comprehensive income was substantially equal to its net income and its comprehensive income attributable to Alliant Energy common shareowners was substantially equal to its net income attributable to Alliant Energy common shareowners for such periods. In 2014, 2013 and 2012, IPL and WPL had no other comprehensive income; therefore their comprehensive income was equal to their net income and their comprehensive income available for common stock was equal to their earnings available for common stock for such periods. | ||||||||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Schedule of Common Equity [Line Items] | ||||||||||||||||||||||||||||||||||||
Common Equity | COMMON EQUITY | |||||||||||||||||||||||||||||||||||
Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares outstanding, January 1 | 110,943,669 | 110,987,400 | 111,018,821 | |||||||||||||||||||||||||||||||||
Equity-based compensation plans (Note 12(b)) | 35,547 | (23,374 | ) | 20,195 | ||||||||||||||||||||||||||||||||
Other | (43,536 | ) | (20,357 | ) | (51,616 | ) | ||||||||||||||||||||||||||||||
Shares outstanding, December 31 | 110,935,680 | 110,943,669 | 110,987,400 | |||||||||||||||||||||||||||||||||
At December 31, 2014, Alliant Energy had a total of 7.8 million shares available for issuance in the aggregate, pursuant to its OIP, Shareowner Direct Plan and 401(k) Savings Plan. | ||||||||||||||||||||||||||||||||||||
Shareowner Rights Agreement - Alliant Energy has established an amended and restated Shareowner Rights Agreement. The rights under this agreement will only become exercisable if a person or group has acquired, or announced an intention to acquire, 15% or more of Alliant Energy’s outstanding common stock. Each right will initially entitle registered shareowners to purchase from Alliant Energy one-half of one share of Alliant Energy’s common stock. The rights will be exercisable at an initial price of $110.00 per full share, subject to adjustment. If any shareowner acquires 15% or more of the outstanding common stock of Alliant Energy, each right (subject to limitations) will entitle its holder to purchase, at the right’s then current exercise price, a number of common shares of Alliant Energy or of the acquirer having a market value at the time of twice the right’s per full share exercise price. Alliant Energy’s Board of Directors is authorized to reduce the 15% ownership threshold to not less than 10%. The amended and restated Shareowner Rights Agreement expires in December 2018. | ||||||||||||||||||||||||||||||||||||
Dividend Restrictions - Alliant Energy does not have any significant common stock dividend restrictions. IPL and WPL each have common stock dividend restrictions based on applicable regulatory limitations. IPL also has common stock dividend restrictions based on the terms of its outstanding preferred stock. As of December 31, 2014, IPL and WPL were in compliance with all such dividend restrictions. | ||||||||||||||||||||||||||||||||||||
IPL is restricted from paying common stock dividends to its parent company, Alliant Energy, if for any past or current dividend period, dividends on its preferred stock have not been paid, or declared and set apart for payment. IPL has paid all dividends on its preferred stock through 2014. | ||||||||||||||||||||||||||||||||||||
Under the Federal Power Act, IPL may not pay dividends to its parent company in excess of the current amount of its retained earnings. Another limitation on IPL’s distributions to its parent company requires IPL to obtain IUB approval for a reasonable utility capital structure if its actual 13-month average common equity ratio (calculated on a financial basis consistent with IPL’s rate cases) falls below 42% of total capitalization. As of December 31, 2014, IPL’s amount of retained earnings that were free of dividend restrictions was $538 million. | ||||||||||||||||||||||||||||||||||||
Currently, WPL has a regulatory limitation on distributions to its parent company from an order issued by the PSCW in July 2014. The order prohibits WPL from paying annual common stock dividends to its parent company in excess of $127 million in 2015 and $135 million in 2016 if WPL’s actual 13-month average common equity ratio (calculated on a financial basis consistent with WPL’s rate cases) would fall below 51.79% for 2015 and 52.25% for 2016. As of December 31, 2014, WPL’s amount of retained earnings that were free of dividend restrictions was $127 million for 2015. | ||||||||||||||||||||||||||||||||||||
Restricted Net Assets of Subsidiaries - IPL and WPL do not have regulatory authority to lend or advance any amounts to their parent company. As of December 31, the amount of net assets of IPL and WPL that were not available to be transferred to their parent company, Alliant Energy, in the form of loans, advances or cash dividends without the consent of IPL’s and WPL’s regulatory authorities was as follows (in billions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
IPL | $1.30 | $1.20 | ||||||||||||||||||||||||||||||||||
WPL | 1.6 | 1.5 | ||||||||||||||||||||||||||||||||||
Capital Transactions With Subsidiaries - IPL, WPL and Resources paid common stock dividends and repayments of capital to their parent company, Alliant Energy, as follows (in millions): | ||||||||||||||||||||||||||||||||||||
IPL | WPL | Resources | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Common stock dividends | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $— | $— | $— | |||||||||||||||||||||||||||
Repayments of capital | — | — | — | — | — | — | 50 | 95 | — | |||||||||||||||||||||||||||
Total distributions from common equity | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $50.00 | $95.00 | $— | |||||||||||||||||||||||||||
IPL, WPL and Corporate Services received capital contributions from their parent company, Alliant Energy, as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL | $90.00 | $120.00 | $110.00 | |||||||||||||||||||||||||||||||||
WPL | — | — | 90 | |||||||||||||||||||||||||||||||||
Corporate Services | — | — | 30 | |||||||||||||||||||||||||||||||||
Comprehensive Income - In 2014, 2013 and 2012, Alliant Energy’s other comprehensive income (loss) was ($0.4) million, $0.6 million and $0, respectively; therefore, its comprehensive income was substantially equal to its net income and its comprehensive income attributable to Alliant Energy common shareowners was substantially equal to its net income attributable to Alliant Energy common shareowners for such periods. In 2014, 2013 and 2012, IPL and WPL had no other comprehensive income; therefore their comprehensive income was equal to their net income and their comprehensive income available for common stock was equal to their earnings available for common stock for such periods. |
Redeemable_Preferred_Stock
Redeemable Preferred Stock | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Redeemable Preferred Stock | REDEEMABLE PREFERRED STOCK | ||||||||||||||
Information related to the carrying value of IPL’s cumulative preferred stock at December 31 was as follows: | |||||||||||||||
Liquidation Preference/Stated Value | Shares Authorized | Shares Outstanding | Series | 2014 | 2013 | ||||||||||
(in millions) | |||||||||||||||
$25 | 16,000,000 | 8,000,000 | 5.10% | $200.00 | $200.00 | ||||||||||
IPL - In 2013, IPL issued 8,000,000 shares of 5.1% cumulative preferred stock and received proceeds of $200 million. The proceeds were used by IPL to redeem its 8.375% cumulative preferred stock, reduce commercial paper classified as long-term debt by $40 million and for other general corporate purposes. Alliant Energy and IPL incurred $5 million of issuance costs related to this transaction, which were recorded as a reduction of additional paid-in capital on Alliant Energy’s and IPL’s balance sheets in 2013. On or after March 15, 2018, IPL may, at its option, redeem the 5.1% cumulative preferred stock for cash at a redemption price of $25 per share plus accrued and unpaid dividends up to the redemption date. | |||||||||||||||
The current articles of incorporation of IPL contain a provision that grants the holders of its cumulative preferred stock voting rights to elect two members of IPL’s Board of Directors if preferred dividends equal to six or more quarterly dividend requirements (whether or not consecutive) are in arrears. Such voting rights would not provide the holders of IPL’s preferred stock control of the decision on redemption of IPL’s preferred stock and could not force IPL to exercise its call option. Therefore, IPL’s cumulative preferred stock is presented in total equity on Alliant Energy’s and IPL’s balance sheets in a manner consistent with noncontrolling interests. | |||||||||||||||
In 2013, IPL redeemed all 6,000,000 outstanding shares of its 8.375% cumulative preferred stock for $150 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and IPL recorded a $5 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their income statements. | |||||||||||||||
Refer to Note 14 for information on the fair value of cumulative preferred stock. | |||||||||||||||
WPL - In 2013, WPL redeemed all 1,049,225 outstanding shares of its 4.40% through 6.50% cumulative preferred stock for $61 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and WPL recorded a $1 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their income statements. | |||||||||||||||
IPL [Member] | |||||||||||||||
Redeemable Preferred Stock | REDEEMABLE PREFERRED STOCK | ||||||||||||||
Information related to the carrying value of IPL’s cumulative preferred stock at December 31 was as follows: | |||||||||||||||
Liquidation Preference/Stated Value | Shares Authorized | Shares Outstanding | Series | 2014 | 2013 | ||||||||||
(in millions) | |||||||||||||||
$25 | 16,000,000 | 8,000,000 | 5.10% | $200.00 | $200.00 | ||||||||||
IPL - In 2013, IPL issued 8,000,000 shares of 5.1% cumulative preferred stock and received proceeds of $200 million. The proceeds were used by IPL to redeem its 8.375% cumulative preferred stock, reduce commercial paper classified as long-term debt by $40 million and for other general corporate purposes. Alliant Energy and IPL incurred $5 million of issuance costs related to this transaction, which were recorded as a reduction of additional paid-in capital on Alliant Energy’s and IPL’s balance sheets in 2013. On or after March 15, 2018, IPL may, at its option, redeem the 5.1% cumulative preferred stock for cash at a redemption price of $25 per share plus accrued and unpaid dividends up to the redemption date. | |||||||||||||||
The current articles of incorporation of IPL contain a provision that grants the holders of its cumulative preferred stock voting rights to elect two members of IPL’s Board of Directors if preferred dividends equal to six or more quarterly dividend requirements (whether or not consecutive) are in arrears. Such voting rights would not provide the holders of IPL’s preferred stock control of the decision on redemption of IPL’s preferred stock and could not force IPL to exercise its call option. Therefore, IPL’s cumulative preferred stock is presented in total equity on Alliant Energy’s and IPL’s balance sheets in a manner consistent with noncontrolling interests. | |||||||||||||||
In 2013, IPL redeemed all 6,000,000 outstanding shares of its 8.375% cumulative preferred stock for $150 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and IPL recorded a $5 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their income statements. | |||||||||||||||
Refer to Note 14 for information on the fair value of cumulative preferred stock. | |||||||||||||||
WPL - In 2013, WPL redeemed all 1,049,225 outstanding shares of its 4.40% through 6.50% cumulative preferred stock for $61 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and WPL recorded a $1 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their income statements. | |||||||||||||||
WPL [Member] | |||||||||||||||
Redeemable Preferred Stock | REDEEMABLE PREFERRED STOCK | ||||||||||||||
Information related to the carrying value of IPL’s cumulative preferred stock at December 31 was as follows: | |||||||||||||||
Liquidation Preference/Stated Value | Shares Authorized | Shares Outstanding | Series | 2014 | 2013 | ||||||||||
(in millions) | |||||||||||||||
$25 | 16,000,000 | 8,000,000 | 5.10% | $200.00 | $200.00 | ||||||||||
IPL - In 2013, IPL issued 8,000,000 shares of 5.1% cumulative preferred stock and received proceeds of $200 million. The proceeds were used by IPL to redeem its 8.375% cumulative preferred stock, reduce commercial paper classified as long-term debt by $40 million and for other general corporate purposes. Alliant Energy and IPL incurred $5 million of issuance costs related to this transaction, which were recorded as a reduction of additional paid-in capital on Alliant Energy’s and IPL’s balance sheets in 2013. On or after March 15, 2018, IPL may, at its option, redeem the 5.1% cumulative preferred stock for cash at a redemption price of $25 per share plus accrued and unpaid dividends up to the redemption date. | |||||||||||||||
The current articles of incorporation of IPL contain a provision that grants the holders of its cumulative preferred stock voting rights to elect two members of IPL’s Board of Directors if preferred dividends equal to six or more quarterly dividend requirements (whether or not consecutive) are in arrears. Such voting rights would not provide the holders of IPL’s preferred stock control of the decision on redemption of IPL’s preferred stock and could not force IPL to exercise its call option. Therefore, IPL’s cumulative preferred stock is presented in total equity on Alliant Energy’s and IPL’s balance sheets in a manner consistent with noncontrolling interests. | |||||||||||||||
In 2013, IPL redeemed all 6,000,000 outstanding shares of its 8.375% cumulative preferred stock for $150 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and IPL recorded a $5 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their income statements. | |||||||||||||||
Refer to Note 14 for information on the fair value of cumulative preferred stock. | |||||||||||||||
WPL - In 2013, WPL redeemed all 1,049,225 outstanding shares of its 4.40% through 6.50% cumulative preferred stock for $61 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and WPL recorded a $1 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their income statements. |
Debt
Debt | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Debt | DEBT | |||||||||||||||||||||||
(a) Short-term Debt - Alliant Energy and its subsidiaries maintain committed bank lines of credit to provide short-term borrowing flexibility and back-stop liquidity for commercial paper outstanding. At December 31, 2014, Alliant Energy’s short-term borrowing arrangements included three revolving credit facilities totaling $1 billion ($300 million for Alliant Energy at the parent company level, $300 million for IPL and $400 million for WPL), which expire in December 2018. Information regarding commercial paper classified as short-term debt and back-stopped by the credit facilities was as follows (dollars in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
31-Dec | ||||||||||||||||||||||||
Commercial paper: | ||||||||||||||||||||||||
Amount outstanding | $141.30 | $279.40 | $— | $— | $— | $183.70 | ||||||||||||||||||
Weighted average interest rates | 0.40% | 0.20% | N/A | N/A | N/A | 0.10% | ||||||||||||||||||
Weighted average remaining maturity | 4 days | 4 days | N/A | N/A | N/A | 6 days | ||||||||||||||||||
Available credit facility capacity | $858.70 | $720.60 | $300.00 | $300.00 | $400.00 | $216.30 | ||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
For the year ended | ||||||||||||||||||||||||
Maximum amount outstanding | $353.80 | $293.90 | $38.00 | $26.30 | $204.70 | $190.00 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Average amount outstanding | $255.90 | $210.50 | $0.20 | $1.30 | $122.90 | $123.50 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Weighted average interest rates | 0.20% | 0.20% | 0.20% | 0.40% | 0.10% | 0.20% | ||||||||||||||||||
The credit facility agreements and Alliant Energy’s term loan credit agreement each contain a financial covenant, which requires Alliant Energy, IPL and WPL to maintain certain debt-to-capital ratios in order to borrow under the credit facilities and term loan credit agreement. The required debt-to-capital ratios compared to the actual debt-to-capital ratios at December 31, 2014 were as follows: | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
Requirement, not to exceed | 65% | 58% | 58% | |||||||||||||||||||||
Actual | 52% | 47% | 49% | |||||||||||||||||||||
The debt component of the capital ratios includes long- and short-term debt (excluding non-recourse debt and hybrid securities to the extent the total carrying value of such hybrid securities does not exceed 15% of consolidated capital of the applicable borrower), capital lease obligations, certain letters of credit, guarantees of the foregoing and new synthetic leases. Unfunded vested benefits under qualified pension plans and sales of accounts receivable are not included in the debt-to-capital ratios. The equity component of the capital ratios excludes accumulated other comprehensive income (loss). | ||||||||||||||||||||||||
(b) Long-Term Debt - Long-term debt, net as of December 31 was as follows (dollars in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||
Senior Debentures: | ||||||||||||||||||||||||
3.3%, due 2015 | $150.00 | $150.00 | $— | $150.00 | $150.00 | $— | ||||||||||||||||||
5.875%, due 2018 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
7.25%, due 2018 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
3.65%, due 2020 | 200 | 200 | — | 200 | 200 | — | ||||||||||||||||||
3.25%, due 2024 (a) | 250 | 250 | — | — | — | — | ||||||||||||||||||
5.5%, due 2025 | 50 | 50 | — | 50 | 50 | — | ||||||||||||||||||
6.45%, due 2033 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
6.3%, due 2034 | 125 | 125 | — | 125 | 125 | — | ||||||||||||||||||
6.25%, due 2039 | 300 | 300 | — | 300 | 300 | — | ||||||||||||||||||
4.7%, due 2043 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
1,775.00 | 1,775.00 | — | 1,525.00 | 1,525.00 | — | |||||||||||||||||||
Debentures: | ||||||||||||||||||||||||
5%, due 2019 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.6%, due 2020 | 150 | — | 150 | 150 | — | 150 | ||||||||||||||||||
2.25%, due 2022 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
6.25%, due 2034 | 100 | — | 100 | 100 | — | 100 | ||||||||||||||||||
6.375%, due 2037 | 300 | — | 300 | 300 | — | 300 | ||||||||||||||||||
7.6%, due 2038 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.1%, due 2044 (b) | 250 | — | 250 | — | — | — | ||||||||||||||||||
1,550.00 | — | 1,550.00 | 1,300.00 | — | 1,300.00 | |||||||||||||||||||
Pollution Control Revenue Bonds: | ||||||||||||||||||||||||
5%, due 2015 (c) | 16 | — | 16 | 24.5 | — | 24.5 | ||||||||||||||||||
5.375%, due 2015 | 14.6 | — | 14.6 | 14.6 | — | 14.6 | ||||||||||||||||||
5% (d) | — | — | — | 38.4 | 38.4 | — | ||||||||||||||||||
30.6 | — | 30.6 | 77.5 | 38.4 | 39.1 | |||||||||||||||||||
Other: | ||||||||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (e) | 250 | — | — | — | — | — | ||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (f) | 60 | — | — | — | — | — | ||||||||||||||||||
3.45% senior notes, due 2022 | 75 | — | — | 75 | — | — | ||||||||||||||||||
5.06% senior secured notes, due 2015 to 2024 | 58.9 | — | — | 60.5 | — | — | ||||||||||||||||||
4% senior notes (e) | — | — | — | 250 | — | — | ||||||||||||||||||
Term loan credit agreement, 1% at December 31, 2013 (f) | — | — | — | 60 | — | — | ||||||||||||||||||
Other, 1% at December 31, 2014, due 2015 to 2025 | 3.3 | — | — | 0.4 | — | — | ||||||||||||||||||
447.2 | — | — | 445.9 | — | — | |||||||||||||||||||
Subtotal | 3,802.80 | 1,775.00 | 1,580.60 | 3,348.40 | 1,563.40 | 1,339.10 | ||||||||||||||||||
Current maturities | (183.0 | ) | (150.0 | ) | (30.6 | ) | (358.5 | ) | (38.4 | ) | (8.5 | ) | ||||||||||||
Unamortized debt (discount) and premium, net | (13.1 | ) | (6.3 | ) | (6.7 | ) | (12.1 | ) | (5.0 | ) | (7.0 | ) | ||||||||||||
Long-term debt, net | $3,606.70 | $1,618.70 | $1,543.30 | $2,977.80 | $1,520.00 | $1,323.60 | ||||||||||||||||||
(a) | In 2014, IPL issued $250.0 million of 3.25% senior debentures due 2024. The proceeds from the issuance were used by IPL to reduce cash proceeds received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt by $60 million and for general corporate purposes. | |||||||||||||||||||||||
(b) | In 2014, WPL issued $250.0 million of 4.1% debentures due 2044. The proceeds from the issuance were used by WPL to reduce commercial paper and for general corporate purposes. | |||||||||||||||||||||||
(c) | In 2014, WPL retired $8.5 million of its 5% pollution control revenue bonds. | |||||||||||||||||||||||
(d) | In 2014, IPL retired its $38.4 million, 5% pollution control revenue bonds. | |||||||||||||||||||||||
(e) | In 2014, Alliant Energy entered into a $250.0 million variable-rate term loan credit agreement and used the proceeds from borrowings under this agreement to retire its $250.0 million, 4% senior notes due 2014. | |||||||||||||||||||||||
(f) | In 2014, Franklin County Holdings LLC, Resources’ wholly-owned subsidiary, entered into a $60.0 million variable-rate term loan credit agreement and used the proceeds to retire its borrowings under a term loan credit agreement that matured in December 2014. | |||||||||||||||||||||||
Five-Year Schedule of Debt Maturities - At December 31, 2014, debt maturities for 2015 through 2019 were as follows (in millions): | ||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
IPL | $150 | $— | $— | $350 | $— | |||||||||||||||||||
WPL | 31 | — | — | — | 250 | |||||||||||||||||||
Resources | 2 | 63 | 5 | 6 | 6 | |||||||||||||||||||
Alliant Energy parent company | — | 250 | — | — | — | |||||||||||||||||||
Alliant Energy | $183 | $313 | $5 | $356 | $256 | |||||||||||||||||||
At December 31, 2014, there were no significant sinking fund requirements related to the long-term debt on the balance sheets. | ||||||||||||||||||||||||
Indentures - IPL maintains an indenture related to all of its outstanding senior debentures. WPL maintains an indenture related to all of its outstanding debentures. Sheboygan Power, LLC, Resources’ wholly-owned subsidiary, maintains an indenture related to the issuance of its 5.06% senior secured notes due 2015 to 2024. | ||||||||||||||||||||||||
Optional Redemption Provisions - Alliant Energy and its subsidiaries have certain issuances of long-term debt that contain 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. At December 31, 2014, the debt issuances that contained these optional redemption provisions included all of IPL’s outstanding senior debentures, all of WPL’s outstanding debentures, Corporate Services’ senior notes due 2022 and Sheboygan Power, LLC’s senior secured notes due 2015 to 2024. | ||||||||||||||||||||||||
Security Provisions - Sheboygan Power, LLC’s 5.06% senior secured notes due 2015 to 2024 are secured by Sheboygan Falls and related assets. | ||||||||||||||||||||||||
Financial Covenant - Alliant Energy’s term loan credit agreement contains a financial covenant, which requires it to maintain a certain debt-to-capital ratio in order to borrow under the agreement. Refer to Note 9(a) for further discussion. | ||||||||||||||||||||||||
Unamortized Debt Issuance Costs - Unamortized debt issuance costs recorded in “Deferred charges and other” on the balance sheets at December 31 were as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Unamortized debt issuance costs | $22.40 | $19.90 | $10.70 | $9.70 | $10.80 | $9.00 | ||||||||||||||||||
Carrying Amount and Fair Value of Long-term Debt - Refer to Note 14 for information on the carrying amount and fair value of long-term debt outstanding. | ||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Debt | DEBT | |||||||||||||||||||||||
(a) Short-term Debt - Alliant Energy and its subsidiaries maintain committed bank lines of credit to provide short-term borrowing flexibility and back-stop liquidity for commercial paper outstanding. At December 31, 2014, Alliant Energy’s short-term borrowing arrangements included three revolving credit facilities totaling $1 billion ($300 million for Alliant Energy at the parent company level, $300 million for IPL and $400 million for WPL), which expire in December 2018. Information regarding commercial paper classified as short-term debt and back-stopped by the credit facilities was as follows (dollars in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
31-Dec | ||||||||||||||||||||||||
Commercial paper: | ||||||||||||||||||||||||
Amount outstanding | $141.30 | $279.40 | $— | $— | $— | $183.70 | ||||||||||||||||||
Weighted average interest rates | 0.40% | 0.20% | N/A | N/A | N/A | 0.10% | ||||||||||||||||||
Weighted average remaining maturity | 4 days | 4 days | N/A | N/A | N/A | 6 days | ||||||||||||||||||
Available credit facility capacity | $858.70 | $720.60 | $300.00 | $300.00 | $400.00 | $216.30 | ||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
For the year ended | ||||||||||||||||||||||||
Maximum amount outstanding | $353.80 | $293.90 | $38.00 | $26.30 | $204.70 | $190.00 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Average amount outstanding | $255.90 | $210.50 | $0.20 | $1.30 | $122.90 | $123.50 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Weighted average interest rates | 0.20% | 0.20% | 0.20% | 0.40% | 0.10% | 0.20% | ||||||||||||||||||
The credit facility agreements and Alliant Energy’s term loan credit agreement each contain a financial covenant, which requires Alliant Energy, IPL and WPL to maintain certain debt-to-capital ratios in order to borrow under the credit facilities and term loan credit agreement. The required debt-to-capital ratios compared to the actual debt-to-capital ratios at December 31, 2014 were as follows: | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
Requirement, not to exceed | 65% | 58% | 58% | |||||||||||||||||||||
Actual | 52% | 47% | 49% | |||||||||||||||||||||
The debt component of the capital ratios includes long- and short-term debt (excluding non-recourse debt and hybrid securities to the extent the total carrying value of such hybrid securities does not exceed 15% of consolidated capital of the applicable borrower), capital lease obligations, certain letters of credit, guarantees of the foregoing and new synthetic leases. Unfunded vested benefits under qualified pension plans and sales of accounts receivable are not included in the debt-to-capital ratios. The equity component of the capital ratios excludes accumulated other comprehensive income (loss). | ||||||||||||||||||||||||
(b) Long-Term Debt - Long-term debt, net as of December 31 was as follows (dollars in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||
Senior Debentures: | ||||||||||||||||||||||||
3.3%, due 2015 | $150.00 | $150.00 | $— | $150.00 | $150.00 | $— | ||||||||||||||||||
5.875%, due 2018 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
7.25%, due 2018 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
3.65%, due 2020 | 200 | 200 | — | 200 | 200 | — | ||||||||||||||||||
3.25%, due 2024 (a) | 250 | 250 | — | — | — | — | ||||||||||||||||||
5.5%, due 2025 | 50 | 50 | — | 50 | 50 | — | ||||||||||||||||||
6.45%, due 2033 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
6.3%, due 2034 | 125 | 125 | — | 125 | 125 | — | ||||||||||||||||||
6.25%, due 2039 | 300 | 300 | — | 300 | 300 | — | ||||||||||||||||||
4.7%, due 2043 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
1,775.00 | 1,775.00 | — | 1,525.00 | 1,525.00 | — | |||||||||||||||||||
Debentures: | ||||||||||||||||||||||||
5%, due 2019 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.6%, due 2020 | 150 | — | 150 | 150 | — | 150 | ||||||||||||||||||
2.25%, due 2022 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
6.25%, due 2034 | 100 | — | 100 | 100 | — | 100 | ||||||||||||||||||
6.375%, due 2037 | 300 | — | 300 | 300 | — | 300 | ||||||||||||||||||
7.6%, due 2038 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.1%, due 2044 (b) | 250 | — | 250 | — | — | — | ||||||||||||||||||
1,550.00 | — | 1,550.00 | 1,300.00 | — | 1,300.00 | |||||||||||||||||||
Pollution Control Revenue Bonds: | ||||||||||||||||||||||||
5%, due 2015 (c) | 16 | — | 16 | 24.5 | — | 24.5 | ||||||||||||||||||
5.375%, due 2015 | 14.6 | — | 14.6 | 14.6 | — | 14.6 | ||||||||||||||||||
5% (d) | — | — | — | 38.4 | 38.4 | — | ||||||||||||||||||
30.6 | — | 30.6 | 77.5 | 38.4 | 39.1 | |||||||||||||||||||
Other: | ||||||||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (e) | 250 | — | — | — | — | — | ||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (f) | 60 | — | — | — | — | — | ||||||||||||||||||
3.45% senior notes, due 2022 | 75 | — | — | 75 | — | — | ||||||||||||||||||
5.06% senior secured notes, due 2015 to 2024 | 58.9 | — | — | 60.5 | — | — | ||||||||||||||||||
4% senior notes (e) | — | — | — | 250 | — | — | ||||||||||||||||||
Term loan credit agreement, 1% at December 31, 2013 (f) | — | — | — | 60 | — | — | ||||||||||||||||||
Other, 1% at December 31, 2014, due 2015 to 2025 | 3.3 | — | — | 0.4 | — | — | ||||||||||||||||||
447.2 | — | — | 445.9 | — | — | |||||||||||||||||||
Subtotal | 3,802.80 | 1,775.00 | 1,580.60 | 3,348.40 | 1,563.40 | 1,339.10 | ||||||||||||||||||
Current maturities | (183.0 | ) | (150.0 | ) | (30.6 | ) | (358.5 | ) | (38.4 | ) | (8.5 | ) | ||||||||||||
Unamortized debt (discount) and premium, net | (13.1 | ) | (6.3 | ) | (6.7 | ) | (12.1 | ) | (5.0 | ) | (7.0 | ) | ||||||||||||
Long-term debt, net | $3,606.70 | $1,618.70 | $1,543.30 | $2,977.80 | $1,520.00 | $1,323.60 | ||||||||||||||||||
(a) | In 2014, IPL issued $250.0 million of 3.25% senior debentures due 2024. The proceeds from the issuance were used by IPL to reduce cash proceeds received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt by $60 million and for general corporate purposes. | |||||||||||||||||||||||
(b) | In 2014, WPL issued $250.0 million of 4.1% debentures due 2044. The proceeds from the issuance were used by WPL to reduce commercial paper and for general corporate purposes. | |||||||||||||||||||||||
(c) | In 2014, WPL retired $8.5 million of its 5% pollution control revenue bonds. | |||||||||||||||||||||||
(d) | In 2014, IPL retired its $38.4 million, 5% pollution control revenue bonds. | |||||||||||||||||||||||
(e) | In 2014, Alliant Energy entered into a $250.0 million variable-rate term loan credit agreement and used the proceeds from borrowings under this agreement to retire its $250.0 million, 4% senior notes due 2014. | |||||||||||||||||||||||
(f) | In 2014, Franklin County Holdings LLC, Resources’ wholly-owned subsidiary, entered into a $60.0 million variable-rate term loan credit agreement and used the proceeds to retire its borrowings under a term loan credit agreement that matured in December 2014. | |||||||||||||||||||||||
Five-Year Schedule of Debt Maturities - At December 31, 2014, debt maturities for 2015 through 2019 were as follows (in millions): | ||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
IPL | $150 | $— | $— | $350 | $— | |||||||||||||||||||
WPL | 31 | — | — | — | 250 | |||||||||||||||||||
Resources | 2 | 63 | 5 | 6 | 6 | |||||||||||||||||||
Alliant Energy parent company | — | 250 | — | — | — | |||||||||||||||||||
Alliant Energy | $183 | $313 | $5 | $356 | $256 | |||||||||||||||||||
At December 31, 2014, there were no significant sinking fund requirements related to the long-term debt on the balance sheets. | ||||||||||||||||||||||||
Indentures - IPL maintains an indenture related to all of its outstanding senior debentures. WPL maintains an indenture related to all of its outstanding debentures. Sheboygan Power, LLC, Resources’ wholly-owned subsidiary, maintains an indenture related to the issuance of its 5.06% senior secured notes due 2015 to 2024. | ||||||||||||||||||||||||
Optional Redemption Provisions - Alliant Energy and its subsidiaries have certain issuances of long-term debt that contain 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. At December 31, 2014, the debt issuances that contained these optional redemption provisions included all of IPL’s outstanding senior debentures, all of WPL’s outstanding debentures, Corporate Services’ senior notes due 2022 and Sheboygan Power, LLC’s senior secured notes due 2015 to 2024. | ||||||||||||||||||||||||
Security Provisions - Sheboygan Power, LLC’s 5.06% senior secured notes due 2015 to 2024 are secured by Sheboygan Falls and related assets. | ||||||||||||||||||||||||
Financial Covenant - Alliant Energy’s term loan credit agreement contains a financial covenant, which requires it to maintain a certain debt-to-capital ratio in order to borrow under the agreement. Refer to Note 9(a) for further discussion. | ||||||||||||||||||||||||
Unamortized Debt Issuance Costs - Unamortized debt issuance costs recorded in “Deferred charges and other” on the balance sheets at December 31 were as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Unamortized debt issuance costs | $22.40 | $19.90 | $10.70 | $9.70 | $10.80 | $9.00 | ||||||||||||||||||
Carrying Amount and Fair Value of Long-term Debt - Refer to Note 14 for information on the carrying amount and fair value of long-term debt outstanding. | ||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Debt | DEBT | |||||||||||||||||||||||
(a) Short-term Debt - Alliant Energy and its subsidiaries maintain committed bank lines of credit to provide short-term borrowing flexibility and back-stop liquidity for commercial paper outstanding. At December 31, 2014, Alliant Energy’s short-term borrowing arrangements included three revolving credit facilities totaling $1 billion ($300 million for Alliant Energy at the parent company level, $300 million for IPL and $400 million for WPL), which expire in December 2018. Information regarding commercial paper classified as short-term debt and back-stopped by the credit facilities was as follows (dollars in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
31-Dec | ||||||||||||||||||||||||
Commercial paper: | ||||||||||||||||||||||||
Amount outstanding | $141.30 | $279.40 | $— | $— | $— | $183.70 | ||||||||||||||||||
Weighted average interest rates | 0.40% | 0.20% | N/A | N/A | N/A | 0.10% | ||||||||||||||||||
Weighted average remaining maturity | 4 days | 4 days | N/A | N/A | N/A | 6 days | ||||||||||||||||||
Available credit facility capacity | $858.70 | $720.60 | $300.00 | $300.00 | $400.00 | $216.30 | ||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
For the year ended | ||||||||||||||||||||||||
Maximum amount outstanding | $353.80 | $293.90 | $38.00 | $26.30 | $204.70 | $190.00 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Average amount outstanding | $255.90 | $210.50 | $0.20 | $1.30 | $122.90 | $123.50 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Weighted average interest rates | 0.20% | 0.20% | 0.20% | 0.40% | 0.10% | 0.20% | ||||||||||||||||||
The credit facility agreements and Alliant Energy’s term loan credit agreement each contain a financial covenant, which requires Alliant Energy, IPL and WPL to maintain certain debt-to-capital ratios in order to borrow under the credit facilities and term loan credit agreement. The required debt-to-capital ratios compared to the actual debt-to-capital ratios at December 31, 2014 were as follows: | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
Requirement, not to exceed | 65% | 58% | 58% | |||||||||||||||||||||
Actual | 52% | 47% | 49% | |||||||||||||||||||||
The debt component of the capital ratios includes long- and short-term debt (excluding non-recourse debt and hybrid securities to the extent the total carrying value of such hybrid securities does not exceed 15% of consolidated capital of the applicable borrower), capital lease obligations, certain letters of credit, guarantees of the foregoing and new synthetic leases. Unfunded vested benefits under qualified pension plans and sales of accounts receivable are not included in the debt-to-capital ratios. The equity component of the capital ratios excludes accumulated other comprehensive income (loss). | ||||||||||||||||||||||||
(b) Long-Term Debt - Long-term debt, net as of December 31 was as follows (dollars in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||
Senior Debentures: | ||||||||||||||||||||||||
3.3%, due 2015 | $150.00 | $150.00 | $— | $150.00 | $150.00 | $— | ||||||||||||||||||
5.875%, due 2018 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
7.25%, due 2018 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
3.65%, due 2020 | 200 | 200 | — | 200 | 200 | — | ||||||||||||||||||
3.25%, due 2024 (a) | 250 | 250 | — | — | — | — | ||||||||||||||||||
5.5%, due 2025 | 50 | 50 | — | 50 | 50 | — | ||||||||||||||||||
6.45%, due 2033 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
6.3%, due 2034 | 125 | 125 | — | 125 | 125 | — | ||||||||||||||||||
6.25%, due 2039 | 300 | 300 | — | 300 | 300 | — | ||||||||||||||||||
4.7%, due 2043 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
1,775.00 | 1,775.00 | — | 1,525.00 | 1,525.00 | — | |||||||||||||||||||
Debentures: | ||||||||||||||||||||||||
5%, due 2019 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.6%, due 2020 | 150 | — | 150 | 150 | — | 150 | ||||||||||||||||||
2.25%, due 2022 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
6.25%, due 2034 | 100 | — | 100 | 100 | — | 100 | ||||||||||||||||||
6.375%, due 2037 | 300 | — | 300 | 300 | — | 300 | ||||||||||||||||||
7.6%, due 2038 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.1%, due 2044 (b) | 250 | — | 250 | — | — | — | ||||||||||||||||||
1,550.00 | — | 1,550.00 | 1,300.00 | — | 1,300.00 | |||||||||||||||||||
Pollution Control Revenue Bonds: | ||||||||||||||||||||||||
5%, due 2015 (c) | 16 | — | 16 | 24.5 | — | 24.5 | ||||||||||||||||||
5.375%, due 2015 | 14.6 | — | 14.6 | 14.6 | — | 14.6 | ||||||||||||||||||
5% (d) | — | — | — | 38.4 | 38.4 | — | ||||||||||||||||||
30.6 | — | 30.6 | 77.5 | 38.4 | 39.1 | |||||||||||||||||||
Other: | ||||||||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (e) | 250 | — | — | — | — | — | ||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (f) | 60 | — | — | — | — | — | ||||||||||||||||||
3.45% senior notes, due 2022 | 75 | — | — | 75 | — | — | ||||||||||||||||||
5.06% senior secured notes, due 2015 to 2024 | 58.9 | — | — | 60.5 | — | — | ||||||||||||||||||
4% senior notes (e) | — | — | — | 250 | — | — | ||||||||||||||||||
Term loan credit agreement, 1% at December 31, 2013 (f) | — | — | — | 60 | — | — | ||||||||||||||||||
Other, 1% at December 31, 2014, due 2015 to 2025 | 3.3 | — | — | 0.4 | — | — | ||||||||||||||||||
447.2 | — | — | 445.9 | — | — | |||||||||||||||||||
Subtotal | 3,802.80 | 1,775.00 | 1,580.60 | 3,348.40 | 1,563.40 | 1,339.10 | ||||||||||||||||||
Current maturities | (183.0 | ) | (150.0 | ) | (30.6 | ) | (358.5 | ) | (38.4 | ) | (8.5 | ) | ||||||||||||
Unamortized debt (discount) and premium, net | (13.1 | ) | (6.3 | ) | (6.7 | ) | (12.1 | ) | (5.0 | ) | (7.0 | ) | ||||||||||||
Long-term debt, net | $3,606.70 | $1,618.70 | $1,543.30 | $2,977.80 | $1,520.00 | $1,323.60 | ||||||||||||||||||
(a) | In 2014, IPL issued $250.0 million of 3.25% senior debentures due 2024. The proceeds from the issuance were used by IPL to reduce cash proceeds received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt by $60 million and for general corporate purposes. | |||||||||||||||||||||||
(b) | In 2014, WPL issued $250.0 million of 4.1% debentures due 2044. The proceeds from the issuance were used by WPL to reduce commercial paper and for general corporate purposes. | |||||||||||||||||||||||
(c) | In 2014, WPL retired $8.5 million of its 5% pollution control revenue bonds. | |||||||||||||||||||||||
(d) | In 2014, IPL retired its $38.4 million, 5% pollution control revenue bonds. | |||||||||||||||||||||||
(e) | In 2014, Alliant Energy entered into a $250.0 million variable-rate term loan credit agreement and used the proceeds from borrowings under this agreement to retire its $250.0 million, 4% senior notes due 2014. | |||||||||||||||||||||||
(f) | In 2014, Franklin County Holdings LLC, Resources’ wholly-owned subsidiary, entered into a $60.0 million variable-rate term loan credit agreement and used the proceeds to retire its borrowings under a term loan credit agreement that matured in December 2014. | |||||||||||||||||||||||
Five-Year Schedule of Debt Maturities - At December 31, 2014, debt maturities for 2015 through 2019 were as follows (in millions): | ||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
IPL | $150 | $— | $— | $350 | $— | |||||||||||||||||||
WPL | 31 | — | — | — | 250 | |||||||||||||||||||
Resources | 2 | 63 | 5 | 6 | 6 | |||||||||||||||||||
Alliant Energy parent company | — | 250 | — | — | — | |||||||||||||||||||
Alliant Energy | $183 | $313 | $5 | $356 | $256 | |||||||||||||||||||
At December 31, 2014, there were no significant sinking fund requirements related to the long-term debt on the balance sheets. | ||||||||||||||||||||||||
Indentures - IPL maintains an indenture related to all of its outstanding senior debentures. WPL maintains an indenture related to all of its outstanding debentures. Sheboygan Power, LLC, Resources’ wholly-owned subsidiary, maintains an indenture related to the issuance of its 5.06% senior secured notes due 2015 to 2024. | ||||||||||||||||||||||||
Optional Redemption Provisions - Alliant Energy and its subsidiaries have certain issuances of long-term debt that contain 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. At December 31, 2014, the debt issuances that contained these optional redemption provisions included all of IPL’s outstanding senior debentures, all of WPL’s outstanding debentures, Corporate Services’ senior notes due 2022 and Sheboygan Power, LLC’s senior secured notes due 2015 to 2024. | ||||||||||||||||||||||||
Security Provisions - Sheboygan Power, LLC’s 5.06% senior secured notes due 2015 to 2024 are secured by Sheboygan Falls and related assets. | ||||||||||||||||||||||||
Financial Covenant - Alliant Energy’s term loan credit agreement contains a financial covenant, which requires it to maintain a certain debt-to-capital ratio in order to borrow under the agreement. Refer to Note 9(a) for further discussion. | ||||||||||||||||||||||||
Unamortized Debt Issuance Costs - Unamortized debt issuance costs recorded in “Deferred charges and other” on the balance sheets at December 31 were as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Unamortized debt issuance costs | $22.40 | $19.90 | $10.70 | $9.70 | $10.80 | $9.00 | ||||||||||||||||||
Carrying Amount and Fair Value of Long-term Debt - Refer to Note 14 for information on the carrying amount and fair value of long-term debt outstanding. |
Leases
Leases | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Leases | LEASES | |||||||||||||||||||||||||||||||||||
(a) Operating Leases - Various agreements have been entered into related to property, plant and equipment rights that are accounted for as operating leases. Historically, Alliant Energy’s and WPL’s most significant operating lease related to the Riverside PPA, which contained fixed rental payments related to capacity and contingent rental payments related to the energy portion (actual MWhs) of the PPA. Costs associated with the Riverside PPA were included in “Electric production fuel and energy purchases” and “Purchased electric capacity” in Alliant Energy’s and WPL’s income statements based on monthly payments for the Riverside PPA. In December 2012, WPL purchased Riverside, thereby terminating the Riverside PPA. Rental expenses associated with operating leases were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Operating lease rental expenses (excluding contingent rentals) | $12 | $9 | $69 | $4 | $4 | $4 | $7 | $5 | $64 | |||||||||||||||||||||||||||
Contingent rentals (primarily related to the Riverside PPA) | — | — | 6 | — | — | — | — | — | 5 | |||||||||||||||||||||||||||
$12 | $9 | $75 | $4 | $4 | $4 | $7 | $5 | $69 | ||||||||||||||||||||||||||||
At December 31, 2014, future minimum operating lease payments, excluding contingent rentals, were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Alliant Energy | $8 | $7 | $3 | $2 | $1 | $21 | $42 | |||||||||||||||||||||||||||||
IPL | 3 | 2 | 2 | 1 | 1 | 15 | 24 | |||||||||||||||||||||||||||||
WPL | 4 | 5 | 1 | — | — | — | 10 | |||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Leases | LEASES | |||||||||||||||||||||||||||||||||||
(a) Operating Leases - Various agreements have been entered into related to property, plant and equipment rights that are accounted for as operating leases. Historically, Alliant Energy’s and WPL’s most significant operating lease related to the Riverside PPA, which contained fixed rental payments related to capacity and contingent rental payments related to the energy portion (actual MWhs) of the PPA. Costs associated with the Riverside PPA were included in “Electric production fuel and energy purchases” and “Purchased electric capacity” in Alliant Energy’s and WPL’s income statements based on monthly payments for the Riverside PPA. In December 2012, WPL purchased Riverside, thereby terminating the Riverside PPA. Rental expenses associated with operating leases were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Operating lease rental expenses (excluding contingent rentals) | $12 | $9 | $69 | $4 | $4 | $4 | $7 | $5 | $64 | |||||||||||||||||||||||||||
Contingent rentals (primarily related to the Riverside PPA) | — | — | 6 | — | — | — | — | — | 5 | |||||||||||||||||||||||||||
$12 | $9 | $75 | $4 | $4 | $4 | $7 | $5 | $69 | ||||||||||||||||||||||||||||
At December 31, 2014, future minimum operating lease payments, excluding contingent rentals, were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Alliant Energy | $8 | $7 | $3 | $2 | $1 | $21 | $42 | |||||||||||||||||||||||||||||
IPL | 3 | 2 | 2 | 1 | 1 | 15 | 24 | |||||||||||||||||||||||||||||
WPL | 4 | 5 | 1 | — | — | — | 10 | |||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Leases | LEASES | |||||||||||||||||||||||||||||||||||
(a) Operating Leases - Various agreements have been entered into related to property, plant and equipment rights that are accounted for as operating leases. Historically, Alliant Energy’s and WPL’s most significant operating lease related to the Riverside PPA, which contained fixed rental payments related to capacity and contingent rental payments related to the energy portion (actual MWhs) of the PPA. Costs associated with the Riverside PPA were included in “Electric production fuel and energy purchases” and “Purchased electric capacity” in Alliant Energy’s and WPL’s income statements based on monthly payments for the Riverside PPA. In December 2012, WPL purchased Riverside, thereby terminating the Riverside PPA. Rental expenses associated with operating leases were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Operating lease rental expenses (excluding contingent rentals) | $12 | $9 | $69 | $4 | $4 | $4 | $7 | $5 | $64 | |||||||||||||||||||||||||||
Contingent rentals (primarily related to the Riverside PPA) | — | — | 6 | — | — | — | — | — | 5 | |||||||||||||||||||||||||||
$12 | $9 | $75 | $4 | $4 | $4 | $7 | $5 | $69 | ||||||||||||||||||||||||||||
At December 31, 2014, future minimum operating lease payments, excluding contingent rentals, were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Alliant Energy | $8 | $7 | $3 | $2 | $1 | $21 | $42 | |||||||||||||||||||||||||||||
IPL | 3 | 2 | 2 | 1 | 1 | 15 | 24 | |||||||||||||||||||||||||||||
WPL | 4 | 5 | 1 | — | — | — | 10 | |||||||||||||||||||||||||||||
(b) Capital Leases - | ||||||||||||||||||||||||||||||||||||
WPL - In 2005, WPL entered into a 20-year agreement with Resources’ Non-regulated Generation business to lease Sheboygan Falls, with an option for two lease renewal periods thereafter. The lease became effective in 2005 when Sheboygan Falls began commercial operation. WPL is responsible for the operation of Sheboygan Falls and has exclusive rights to its output. In 2005, the PSCW approved this affiliated lease agreement with initial monthly lease payments of approximately $1.3 million. The lease payments were based on a 50% debt to capital ratio, a return on equity of 10.9%, a cost of debt based on the cost of senior notes issued by Resources’ Non-regulated Generation business in 2005 and certain costs incurred to construct the facility. In accordance with its order approving the lease agreement, the PSCW reserved the right to review the capital structure, return on equity and cost of debt every five years from the date of the order. No revisions to the lease have been made since its inception. The capital lease asset is amortized using the straight-line method over the 20-year lease term. Since the inception of the lease in 2005, WPL’s retail and wholesale rates have included recovery of the monthly Sheboygan Falls lease payments. Sheboygan Falls lease expenses were included in WPL’s income statements as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Interest expense | $10.40 | $10.90 | $11.30 | |||||||||||||||||||||||||||||||||
Depreciation and amortization | 6.2 | 6.2 | 6.2 | |||||||||||||||||||||||||||||||||
$16.60 | $17.10 | $17.50 | ||||||||||||||||||||||||||||||||||
At December 31, 2014, WPL’s estimated future minimum capital lease payments for Sheboygan Falls were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | Less: amount representing interest | Present value of minimum capital lease payments | ||||||||||||||||||||||||||||
Sheboygan Falls | $15 | $15 | $15 | $15 | $15 | $83 | $158 | $63 | $95 |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Income Tax [Line Items] | ||||||||||||||||||||||||||||||||||||
Income Taxes | INCOME TAXES | |||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) - The components of “Income tax expense (benefit)” in the income statements were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Current tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | $36.60 | $4.40 | ($29.3 | ) | $11.30 | $11.70 | ($7.7 | ) | $0.60 | ($5.7 | ) | $7.20 | ||||||||||||||||||||||||
State | 9.3 | (3.6 | ) | 11.6 | 3.4 | (0.1 | ) | 9.1 | 4.4 | 6 | (0.9 | ) | ||||||||||||||||||||||||
IPL’s tax benefit riders | (56.7 | ) | (52.9 | ) | (48.3 | ) | (56.7 | ) | (52.9 | ) | (48.3 | ) | — | — | — | |||||||||||||||||||||
Deferred tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | 83.5 | 123.9 | 157.8 | 11.1 | 20 | 37.4 | 88.9 | 92.7 | 81.1 | |||||||||||||||||||||||||||
State | 4.6 | 15.6 | 23.9 | (6.2 | ) | (0.8 | ) | 3.2 | 10.1 | 11.8 | 20.3 | |||||||||||||||||||||||||
Production tax credits | (31.3 | ) | (31.0 | ) | (24.8 | ) | (14.0 | ) | (14.4 | ) | (12.5 | ) | (17.3 | ) | (16.6 | ) | (12.3 | ) | ||||||||||||||||||
Investment tax credits | (1.6 | ) | (1.6 | ) | (1.7 | ) | (0.6 | ) | (0.6 | ) | (0.6 | ) | (1.0 | ) | (1.0 | ) | (1.1 | ) | ||||||||||||||||||
Provision recorded as a change in uncertain tax positions: | ||||||||||||||||||||||||||||||||||||
Current | — | — | 8 | — | — | 8.1 | — | — | (0.1 | ) | ||||||||||||||||||||||||||
Deferred | — | (0.4 | ) | (7.6 | ) | — | — | (8.2 | ) | — | (0.4 | ) | 0.6 | |||||||||||||||||||||||
Provision recorded as a change in accrued interest | (0.1 | ) | (0.5 | ) | (0.2 | ) | — | (0.8 | ) | (0.3 | ) | (0.1 | ) | 0.4 | (0.2 | ) | ||||||||||||||||||||
$44.30 | $53.90 | $89.40 | ($51.7 | ) | ($37.9 | ) | ($19.8 | ) | $85.60 | $87.20 | $94.60 | |||||||||||||||||||||||||
Income Tax Rates - The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes. | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | ||||||||||||||||||
State income taxes, net of federal benefits | 5.4 | 5.7 | 5.7 | 5 | 5.4 | 5.8 | 5.5 | 6 | 5.5 | |||||||||||||||||||||||||||
IPL’s tax benefit riders | (12.9 | ) | (12.1 | ) | (11.2 | ) | (39.6 | ) | (34.8 | ) | (37.0 | ) | — | — | — | |||||||||||||||||||||
Effect of rate-making on property-related differences | (7.5 | ) | (6.0 | ) | (5.0 | ) | (21.9 | ) | (15.9 | ) | (14.2 | ) | (0.7 | ) | (0.8 | ) | (1.1 | ) | ||||||||||||||||||
Production tax credits | (7.1 | ) | (7.1 | ) | (5.8 | ) | (9.8 | ) | (9.5 | ) | (9.6 | ) | (6.5 | ) | (6.3 | ) | (4.7 | ) | ||||||||||||||||||
Adjustment of prior period taxes | (1.3 | ) | (1.3 | ) | — | (3.5 | ) | (3.6 | ) | 0.2 | (0.1 | ) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||
State apportionment change due to announced sale of RMT | — | — | 3.5 | — | — | 6.2 | — | — | 2.7 | |||||||||||||||||||||||||||
Other items, net | (1.5 | ) | (1.8 | ) | (1.4 | ) | (1.4 | ) | (1.5 | ) | (1.6 | ) | (1.1 | ) | (0.9 | ) | (0.8 | ) | ||||||||||||||||||
Overall income tax rate | 10.1 | % | 12.4 | % | 20.8 | % | (36.2 | %) | (24.9 | %) | (15.2 | %) | 32.1 | % | 32.9 | % | 36.3 | % | ||||||||||||||||||
IPL’s tax benefit riders - Alliant Energy’s and IPL’s effective income tax rates include the impact of reducing income tax expense with offsetting reductions to regulatory liabilities as a result of implementing the tax benefit riders. Refer to Note 2 for additional details on IPL’s tax benefit riders. | ||||||||||||||||||||||||||||||||||||
Effect of rate-making on property-related differences - Alliant Energy’s and IPL’s income tax expense and benefits are impacted by certain property-related differences at IPL for which deferred tax is not recognized in the income statement pursuant to Iowa rate-making principles. For example, tax expenses and benefits related to mixed service costs and repairs expenditures at IPL are recorded as a component of income tax expense pursuant to Iowa rate-making principles. In 2013, the primary factor contributing to the increase in the current tax benefits recorded for the effect of rate-making on property-related differences was increased repairs expenditures and the equity component of AFUDC at IPL. In 2014, the increased benefits from property-related differences were primarily due to additional repairs deductions and additional deductions from the allocation of mixed service costs related to Marshalltown. | ||||||||||||||||||||||||||||||||||||
Production tax credits - Production tax credits are earned from owned and operated wind projects. Production tax credits are based on the electricity generated by each wind project during the first 10 years of operation. Details regarding production tax credits (net of state tax impacts) related to various wind projects are as follows (dollars in millions): | ||||||||||||||||||||||||||||||||||||
End of Production | Nameplate | |||||||||||||||||||||||||||||||||||
Tax Credit Generation | Capacity in MW | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Cedar Ridge (WPL) | Dec-18 | 68 | $4.00 | $4.10 | $4.00 | |||||||||||||||||||||||||||||||
Bent Tree (WPL) | Feb-21 | 201 | 13.3 | 12.5 | 8.3 | |||||||||||||||||||||||||||||||
Subtotal (WPL) | 17.3 | 16.6 | 12.3 | |||||||||||||||||||||||||||||||||
Whispering Willow - East (IPL) | Dec-19 | 200 | 14 | 14.4 | 12.5 | |||||||||||||||||||||||||||||||
$31.30 | $31.00 | $24.80 | ||||||||||||||||||||||||||||||||||
State apportionment change due to announced sale of RMT - State apportionment projections are utilized to record deferred tax assets and liabilities each reporting period. Deferred tax assets and liabilities for temporary differences between the tax basis of assets and liabilities and the amounts reported in the financial statements are recorded utilizing currently enacted tax rates and estimates of future state apportionment rates expected to be in effect at the time the temporary differences reverse. These state apportionment projections are most significantly impacted by the estimated amount of revenues expected in the future from each state jurisdiction for Alliant Energy’s consolidated tax groups, including both its regulated and its non-regulated operations. In 2012, Alliant Energy, IPL and WPL recorded $15 million, $8 million and $7 million, respectively, of deferred income tax expense due to changes in state apportionment projections caused by the announced sale of Alliant Energy’s RMT business. | ||||||||||||||||||||||||||||||||||||
Deferred Tax Assets and Liabilities - The deferred income tax (assets) and liabilities included on Alliant Energy’s balance sheets at December 31 arise from the following temporary differences (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
Alliant Energy | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $2,627.80 | $2,627.80 | $— | $2,316.30 | $2,316.30 | ||||||||||||||||||||||||||||||
Investment in ATC | — | 131.6 | 131.6 | — | 120.7 | 120.7 | ||||||||||||||||||||||||||||||
Net operating losses carryforwards - state | (45.7 | ) | — | (45.7 | ) | (35.3 | ) | — | (35.3 | ) | ||||||||||||||||||||||||||
Regulatory liability - IPL’s tax benefit riders | (100.9 | ) | — | (100.9 | ) | (107.8 | ) | — | (107.8 | ) | ||||||||||||||||||||||||||
Federal credit carryforwards | (201.0 | ) | — | (201.0 | ) | (167.8 | ) | — | (167.8 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (332.8 | ) | — | (332.8 | ) | (251.9 | ) | — | (251.9 | ) | ||||||||||||||||||||||||||
Other | (88.1 | ) | 180.1 | 92 | (108.9 | ) | 210.7 | 101.8 | ||||||||||||||||||||||||||||
Subtotal | ($768.5 | ) | $2,939.50 | $2,171.00 | ($671.7 | ) | $2,647.70 | $1,976.00 | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($150.1 | ) | ($136.7 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 2,321.10 | 2,112.70 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $2,171.00 | $1,976.00 | ||||||||||||||||||||||||||||||||||
The deferred income tax (assets) and liabilities included on IPL’s balance sheets at December 31 arise from the following temporary differences (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
IPL | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $1,531.00 | $1,531.00 | $— | $1,338.10 | $1,338.10 | ||||||||||||||||||||||||||||||
Federal credit carryforwards | (67.7 | ) | — | (67.7 | ) | (52.9 | ) | — | (52.9 | ) | ||||||||||||||||||||||||||
Regulatory liability - tax benefit riders | (100.9 | ) | — | (100.9 | ) | (107.8 | ) | — | (107.8 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (160.6 | ) | — | (160.6 | ) | (111.3 | ) | — | (111.3 | ) | ||||||||||||||||||||||||||
Other | (47.2 | ) | 81.9 | 34.7 | (64.0 | ) | 103.2 | 39.2 | ||||||||||||||||||||||||||||
($376.4 | ) | $1,612.90 | $1,236.50 | ($336.0 | ) | $1,441.30 | $1,105.30 | |||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($104.9 | ) | ($87.7 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 1,341.40 | 1,193.00 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $1,236.50 | $1,105.30 | ||||||||||||||||||||||||||||||||||
The deferred income tax (assets) and liabilities included on WPL’s balance sheets at December 31 arise from the following temporary differences (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
WPL | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $964.40 | $964.40 | $— | $859.10 | $859.10 | ||||||||||||||||||||||||||||||
Investment in ATC | — | 131.6 | 131.6 | — | 120.7 | 120.7 | ||||||||||||||||||||||||||||||
Federal credit carryforwards | (75.2 | ) | — | (75.2 | ) | (57.1 | ) | — | (57.1 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (128.9 | ) | — | (128.9 | ) | (106.9 | ) | — | (106.9 | ) | ||||||||||||||||||||||||||
Other | (40.3 | ) | 80.9 | 40.6 | (37.6 | ) | 75.6 | 38 | ||||||||||||||||||||||||||||
($244.4 | ) | $1,176.90 | $932.50 | ($201.6 | ) | $1,055.40 | $853.80 | |||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($37.5 | ) | ($43.3 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 970 | 897.1 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $932.50 | $853.80 | ||||||||||||||||||||||||||||||||||
Property - Property-related differences were primarily related to accelerated depreciation, including bonus depreciation. In December 2014, the FTIP Act was enacted. The most significant provisions of the FTIP Act for Alliant Energy, IPL and WPL are related to the extension of bonus depreciation deductions for certain expenditures for property that were incurred through December 31, 2014. As a result, Alliant Energy currently estimates its total bonus depreciation deductions to be claimed on its U.S. federal income tax return for calendar year 2014 will be approximately $450 million ($245 million for IPL and $190 million for WPL). Property-related differences also related to tax accounting method changes for cost of removal expenditures and repair expenditures for electric generation property, which are discussed in Note 2. | ||||||||||||||||||||||||||||||||||||
Investment in ATC - WPL Transco has a partial ownership interest in ATC, which has generated deferred tax liabilities primarily from tax depreciation deductions taken at ATC in excess of book depreciation. The increase in deferred tax liabilities in 2014 was primarily due to bonus depreciation deductions estimated at ATC. | ||||||||||||||||||||||||||||||||||||
Carryforwards - At December 31, 2014, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $970 | $333 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (a) | 881 | 46 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 204 | 201 | 2022 | |||||||||||||||||||||||||||||||||
$580 | ||||||||||||||||||||||||||||||||||||
IPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $468 | $161 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (b) | 291 | 16 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 69 | 68 | 2022 | |||||||||||||||||||||||||||||||||
$245 | ||||||||||||||||||||||||||||||||||||
WPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $376 | $129 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (c) | 171 | 9 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 77 | 75 | 2022 | |||||||||||||||||||||||||||||||||
$213 | ||||||||||||||||||||||||||||||||||||
(a) | At December 31, 2014, Alliant Energy’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(b) | At December 31, 2014, IPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(c) | At December 31, 2014, WPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024. | |||||||||||||||||||||||||||||||||||
Regulatory liability - tax benefit riders - Refer to Note 2 for discussion of regulatory liabilities associated with IPL’s tax benefit riders. | ||||||||||||||||||||||||||||||||||||
Uncertain Tax Positions - A reconciliation of the beginning and ending amounts of uncertain tax positions, excluding interest, is as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Balance, January 1 | $— | $0.70 | $23.50 | $— | $— | $10.90 | $— | $0.70 | $12.60 | |||||||||||||||||||||||||||
Additions based on tax positions related to the current year | — | — | 0.7 | — | — | — | — | — | 0.7 | |||||||||||||||||||||||||||
Reductions for tax positions of prior years (a) | — | (0.7 | ) | (23.5 | ) | — | — | (10.9 | ) | — | (0.7 | ) | (12.6 | ) | ||||||||||||||||||||||
Balance, December 31 | $— | $— | $0.70 | $— | $— | $— | $— | $— | $0.70 | |||||||||||||||||||||||||||
(a) | In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energy’s federal income tax return audits for calendar years 2005 through 2009. | |||||||||||||||||||||||||||||||||||
At December 31, 2014, 2013 and 2012, there were no penalties accrued related to uncertain tax positions, and interest accrued and tax positions favorably impacting future effective tax rates for continuing operations were not material. As of December 31, 2014, no material changes to unrecognized tax benefits are expected during the next 12 months. | ||||||||||||||||||||||||||||||||||||
Open tax years - Tax years that remain subject to the statute of limitations in the major jurisdictions are as follows: | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Consolidated federal income tax returns (a) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Consolidated Iowa income tax returns (b) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Wisconsin combined tax returns (c) | 2010 | - | 2013 | 2010 | - | 2013 | 2010 | - | 2013 | |||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Income Tax [Line Items] | ||||||||||||||||||||||||||||||||||||
Income Taxes | INCOME TAXES | |||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) - The components of “Income tax expense (benefit)” in the income statements were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Current tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | $36.60 | $4.40 | ($29.3 | ) | $11.30 | $11.70 | ($7.7 | ) | $0.60 | ($5.7 | ) | $7.20 | ||||||||||||||||||||||||
State | 9.3 | (3.6 | ) | 11.6 | 3.4 | (0.1 | ) | 9.1 | 4.4 | 6 | (0.9 | ) | ||||||||||||||||||||||||
IPL’s tax benefit riders | (56.7 | ) | (52.9 | ) | (48.3 | ) | (56.7 | ) | (52.9 | ) | (48.3 | ) | — | — | — | |||||||||||||||||||||
Deferred tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | 83.5 | 123.9 | 157.8 | 11.1 | 20 | 37.4 | 88.9 | 92.7 | 81.1 | |||||||||||||||||||||||||||
State | 4.6 | 15.6 | 23.9 | (6.2 | ) | (0.8 | ) | 3.2 | 10.1 | 11.8 | 20.3 | |||||||||||||||||||||||||
Production tax credits | (31.3 | ) | (31.0 | ) | (24.8 | ) | (14.0 | ) | (14.4 | ) | (12.5 | ) | (17.3 | ) | (16.6 | ) | (12.3 | ) | ||||||||||||||||||
Investment tax credits | (1.6 | ) | (1.6 | ) | (1.7 | ) | (0.6 | ) | (0.6 | ) | (0.6 | ) | (1.0 | ) | (1.0 | ) | (1.1 | ) | ||||||||||||||||||
Provision recorded as a change in uncertain tax positions: | ||||||||||||||||||||||||||||||||||||
Current | — | — | 8 | — | — | 8.1 | — | — | (0.1 | ) | ||||||||||||||||||||||||||
Deferred | — | (0.4 | ) | (7.6 | ) | — | — | (8.2 | ) | — | (0.4 | ) | 0.6 | |||||||||||||||||||||||
Provision recorded as a change in accrued interest | (0.1 | ) | (0.5 | ) | (0.2 | ) | — | (0.8 | ) | (0.3 | ) | (0.1 | ) | 0.4 | (0.2 | ) | ||||||||||||||||||||
$44.30 | $53.90 | $89.40 | ($51.7 | ) | ($37.9 | ) | ($19.8 | ) | $85.60 | $87.20 | $94.60 | |||||||||||||||||||||||||
Income Tax Rates - The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes. | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | ||||||||||||||||||
State income taxes, net of federal benefits | 5.4 | 5.7 | 5.7 | 5 | 5.4 | 5.8 | 5.5 | 6 | 5.5 | |||||||||||||||||||||||||||
IPL’s tax benefit riders | (12.9 | ) | (12.1 | ) | (11.2 | ) | (39.6 | ) | (34.8 | ) | (37.0 | ) | — | — | — | |||||||||||||||||||||
Effect of rate-making on property-related differences | (7.5 | ) | (6.0 | ) | (5.0 | ) | (21.9 | ) | (15.9 | ) | (14.2 | ) | (0.7 | ) | (0.8 | ) | (1.1 | ) | ||||||||||||||||||
Production tax credits | (7.1 | ) | (7.1 | ) | (5.8 | ) | (9.8 | ) | (9.5 | ) | (9.6 | ) | (6.5 | ) | (6.3 | ) | (4.7 | ) | ||||||||||||||||||
Adjustment of prior period taxes | (1.3 | ) | (1.3 | ) | — | (3.5 | ) | (3.6 | ) | 0.2 | (0.1 | ) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||
State apportionment change due to announced sale of RMT | — | — | 3.5 | — | — | 6.2 | — | — | 2.7 | |||||||||||||||||||||||||||
Other items, net | (1.5 | ) | (1.8 | ) | (1.4 | ) | (1.4 | ) | (1.5 | ) | (1.6 | ) | (1.1 | ) | (0.9 | ) | (0.8 | ) | ||||||||||||||||||
Overall income tax rate | 10.1 | % | 12.4 | % | 20.8 | % | (36.2 | %) | (24.9 | %) | (15.2 | %) | 32.1 | % | 32.9 | % | 36.3 | % | ||||||||||||||||||
IPL’s tax benefit riders - Alliant Energy’s and IPL’s effective income tax rates include the impact of reducing income tax expense with offsetting reductions to regulatory liabilities as a result of implementing the tax benefit riders. Refer to Note 2 for additional details on IPL’s tax benefit riders. | ||||||||||||||||||||||||||||||||||||
Effect of rate-making on property-related differences - Alliant Energy’s and IPL’s income tax expense and benefits are impacted by certain property-related differences at IPL for which deferred tax is not recognized in the income statement pursuant to Iowa rate-making principles. For example, tax expenses and benefits related to mixed service costs and repairs expenditures at IPL are recorded as a component of income tax expense pursuant to Iowa rate-making principles. In 2013, the primary factor contributing to the increase in the current tax benefits recorded for the effect of rate-making on property-related differences was increased repairs expenditures and the equity component of AFUDC at IPL. In 2014, the increased benefits from property-related differences were primarily due to additional repairs deductions and additional deductions from the allocation of mixed service costs related to Marshalltown. | ||||||||||||||||||||||||||||||||||||
Production tax credits - Production tax credits are earned from owned and operated wind projects. Production tax credits are based on the electricity generated by each wind project during the first 10 years of operation. Details regarding production tax credits (net of state tax impacts) related to various wind projects are as follows (dollars in millions): | ||||||||||||||||||||||||||||||||||||
End of Production | Nameplate | |||||||||||||||||||||||||||||||||||
Tax Credit Generation | Capacity in MW | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Cedar Ridge (WPL) | Dec-18 | 68 | $4.00 | $4.10 | $4.00 | |||||||||||||||||||||||||||||||
Bent Tree (WPL) | Feb-21 | 201 | 13.3 | 12.5 | 8.3 | |||||||||||||||||||||||||||||||
Subtotal (WPL) | 17.3 | 16.6 | 12.3 | |||||||||||||||||||||||||||||||||
Whispering Willow - East (IPL) | Dec-19 | 200 | 14 | 14.4 | 12.5 | |||||||||||||||||||||||||||||||
$31.30 | $31.00 | $24.80 | ||||||||||||||||||||||||||||||||||
State apportionment change due to announced sale of RMT - State apportionment projections are utilized to record deferred tax assets and liabilities each reporting period. Deferred tax assets and liabilities for temporary differences between the tax basis of assets and liabilities and the amounts reported in the financial statements are recorded utilizing currently enacted tax rates and estimates of future state apportionment rates expected to be in effect at the time the temporary differences reverse. These state apportionment projections are most significantly impacted by the estimated amount of revenues expected in the future from each state jurisdiction for Alliant Energy’s consolidated tax groups, including both its regulated and its non-regulated operations. In 2012, Alliant Energy, IPL and WPL recorded $15 million, $8 million and $7 million, respectively, of deferred income tax expense due to changes in state apportionment projections caused by the announced sale of Alliant Energy’s RMT business. | ||||||||||||||||||||||||||||||||||||
Deferred Tax Assets and Liabilities - The deferred income tax (assets) and liabilities included on Alliant Energy’s balance sheets at December 31 arise from the following temporary differences (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
Alliant Energy | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $2,627.80 | $2,627.80 | $— | $2,316.30 | $2,316.30 | ||||||||||||||||||||||||||||||
Investment in ATC | — | 131.6 | 131.6 | — | 120.7 | 120.7 | ||||||||||||||||||||||||||||||
Net operating losses carryforwards - state | (45.7 | ) | — | (45.7 | ) | (35.3 | ) | — | (35.3 | ) | ||||||||||||||||||||||||||
Regulatory liability - IPL’s tax benefit riders | (100.9 | ) | — | (100.9 | ) | (107.8 | ) | — | (107.8 | ) | ||||||||||||||||||||||||||
Federal credit carryforwards | (201.0 | ) | — | (201.0 | ) | (167.8 | ) | — | (167.8 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (332.8 | ) | — | (332.8 | ) | (251.9 | ) | — | (251.9 | ) | ||||||||||||||||||||||||||
Other | (88.1 | ) | 180.1 | 92 | (108.9 | ) | 210.7 | 101.8 | ||||||||||||||||||||||||||||
Subtotal | ($768.5 | ) | $2,939.50 | $2,171.00 | ($671.7 | ) | $2,647.70 | $1,976.00 | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($150.1 | ) | ($136.7 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 2,321.10 | 2,112.70 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $2,171.00 | $1,976.00 | ||||||||||||||||||||||||||||||||||
The deferred income tax (assets) and liabilities included on IPL’s balance sheets at December 31 arise from the following temporary differences (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
IPL | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $1,531.00 | $1,531.00 | $— | $1,338.10 | $1,338.10 | ||||||||||||||||||||||||||||||
Federal credit carryforwards | (67.7 | ) | — | (67.7 | ) | (52.9 | ) | — | (52.9 | ) | ||||||||||||||||||||||||||
Regulatory liability - tax benefit riders | (100.9 | ) | — | (100.9 | ) | (107.8 | ) | — | (107.8 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (160.6 | ) | — | (160.6 | ) | (111.3 | ) | — | (111.3 | ) | ||||||||||||||||||||||||||
Other | (47.2 | ) | 81.9 | 34.7 | (64.0 | ) | 103.2 | 39.2 | ||||||||||||||||||||||||||||
($376.4 | ) | $1,612.90 | $1,236.50 | ($336.0 | ) | $1,441.30 | $1,105.30 | |||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($104.9 | ) | ($87.7 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 1,341.40 | 1,193.00 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $1,236.50 | $1,105.30 | ||||||||||||||||||||||||||||||||||
The deferred income tax (assets) and liabilities included on WPL’s balance sheets at December 31 arise from the following temporary differences (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
WPL | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $964.40 | $964.40 | $— | $859.10 | $859.10 | ||||||||||||||||||||||||||||||
Investment in ATC | — | 131.6 | 131.6 | — | 120.7 | 120.7 | ||||||||||||||||||||||||||||||
Federal credit carryforwards | (75.2 | ) | — | (75.2 | ) | (57.1 | ) | — | (57.1 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (128.9 | ) | — | (128.9 | ) | (106.9 | ) | — | (106.9 | ) | ||||||||||||||||||||||||||
Other | (40.3 | ) | 80.9 | 40.6 | (37.6 | ) | 75.6 | 38 | ||||||||||||||||||||||||||||
($244.4 | ) | $1,176.90 | $932.50 | ($201.6 | ) | $1,055.40 | $853.80 | |||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($37.5 | ) | ($43.3 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 970 | 897.1 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $932.50 | $853.80 | ||||||||||||||||||||||||||||||||||
Property - Property-related differences were primarily related to accelerated depreciation, including bonus depreciation. In December 2014, the FTIP Act was enacted. The most significant provisions of the FTIP Act for Alliant Energy, IPL and WPL are related to the extension of bonus depreciation deductions for certain expenditures for property that were incurred through December 31, 2014. As a result, Alliant Energy currently estimates its total bonus depreciation deductions to be claimed on its U.S. federal income tax return for calendar year 2014 will be approximately $450 million ($245 million for IPL and $190 million for WPL). Property-related differences also related to tax accounting method changes for cost of removal expenditures and repair expenditures for electric generation property, which are discussed in Note 2. | ||||||||||||||||||||||||||||||||||||
Investment in ATC - WPL Transco has a partial ownership interest in ATC, which has generated deferred tax liabilities primarily from tax depreciation deductions taken at ATC in excess of book depreciation. The increase in deferred tax liabilities in 2014 was primarily due to bonus depreciation deductions estimated at ATC. | ||||||||||||||||||||||||||||||||||||
Carryforwards - At December 31, 2014, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $970 | $333 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (a) | 881 | 46 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 204 | 201 | 2022 | |||||||||||||||||||||||||||||||||
$580 | ||||||||||||||||||||||||||||||||||||
IPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $468 | $161 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (b) | 291 | 16 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 69 | 68 | 2022 | |||||||||||||||||||||||||||||||||
$245 | ||||||||||||||||||||||||||||||||||||
WPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $376 | $129 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (c) | 171 | 9 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 77 | 75 | 2022 | |||||||||||||||||||||||||||||||||
$213 | ||||||||||||||||||||||||||||||||||||
(a) | At December 31, 2014, Alliant Energy’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(b) | At December 31, 2014, IPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(c) | At December 31, 2014, WPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024. | |||||||||||||||||||||||||||||||||||
Regulatory liability - tax benefit riders - Refer to Note 2 for discussion of regulatory liabilities associated with IPL’s tax benefit riders. | ||||||||||||||||||||||||||||||||||||
Uncertain Tax Positions - A reconciliation of the beginning and ending amounts of uncertain tax positions, excluding interest, is as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Balance, January 1 | $— | $0.70 | $23.50 | $— | $— | $10.90 | $— | $0.70 | $12.60 | |||||||||||||||||||||||||||
Additions based on tax positions related to the current year | — | — | 0.7 | — | — | — | — | — | 0.7 | |||||||||||||||||||||||||||
Reductions for tax positions of prior years (a) | — | (0.7 | ) | (23.5 | ) | — | — | (10.9 | ) | — | (0.7 | ) | (12.6 | ) | ||||||||||||||||||||||
Balance, December 31 | $— | $— | $0.70 | $— | $— | $— | $— | $— | $0.70 | |||||||||||||||||||||||||||
(a) | In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energy’s federal income tax return audits for calendar years 2005 through 2009. | |||||||||||||||||||||||||||||||||||
At December 31, 2014, 2013 and 2012, there were no penalties accrued related to uncertain tax positions, and interest accrued and tax positions favorably impacting future effective tax rates for continuing operations were not material. As of December 31, 2014, no material changes to unrecognized tax benefits are expected during the next 12 months. | ||||||||||||||||||||||||||||||||||||
Open tax years - Tax years that remain subject to the statute of limitations in the major jurisdictions are as follows: | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Consolidated federal income tax returns (a) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Consolidated Iowa income tax returns (b) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Wisconsin combined tax returns (c) | 2010 | - | 2013 | 2010 | - | 2013 | 2010 | - | 2013 | |||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Income Tax [Line Items] | ||||||||||||||||||||||||||||||||||||
Income Taxes | INCOME TAXES | |||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) - The components of “Income tax expense (benefit)” in the income statements were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Current tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | $36.60 | $4.40 | ($29.3 | ) | $11.30 | $11.70 | ($7.7 | ) | $0.60 | ($5.7 | ) | $7.20 | ||||||||||||||||||||||||
State | 9.3 | (3.6 | ) | 11.6 | 3.4 | (0.1 | ) | 9.1 | 4.4 | 6 | (0.9 | ) | ||||||||||||||||||||||||
IPL’s tax benefit riders | (56.7 | ) | (52.9 | ) | (48.3 | ) | (56.7 | ) | (52.9 | ) | (48.3 | ) | — | — | — | |||||||||||||||||||||
Deferred tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | 83.5 | 123.9 | 157.8 | 11.1 | 20 | 37.4 | 88.9 | 92.7 | 81.1 | |||||||||||||||||||||||||||
State | 4.6 | 15.6 | 23.9 | (6.2 | ) | (0.8 | ) | 3.2 | 10.1 | 11.8 | 20.3 | |||||||||||||||||||||||||
Production tax credits | (31.3 | ) | (31.0 | ) | (24.8 | ) | (14.0 | ) | (14.4 | ) | (12.5 | ) | (17.3 | ) | (16.6 | ) | (12.3 | ) | ||||||||||||||||||
Investment tax credits | (1.6 | ) | (1.6 | ) | (1.7 | ) | (0.6 | ) | (0.6 | ) | (0.6 | ) | (1.0 | ) | (1.0 | ) | (1.1 | ) | ||||||||||||||||||
Provision recorded as a change in uncertain tax positions: | ||||||||||||||||||||||||||||||||||||
Current | — | — | 8 | — | — | 8.1 | — | — | (0.1 | ) | ||||||||||||||||||||||||||
Deferred | — | (0.4 | ) | (7.6 | ) | — | — | (8.2 | ) | — | (0.4 | ) | 0.6 | |||||||||||||||||||||||
Provision recorded as a change in accrued interest | (0.1 | ) | (0.5 | ) | (0.2 | ) | — | (0.8 | ) | (0.3 | ) | (0.1 | ) | 0.4 | (0.2 | ) | ||||||||||||||||||||
$44.30 | $53.90 | $89.40 | ($51.7 | ) | ($37.9 | ) | ($19.8 | ) | $85.60 | $87.20 | $94.60 | |||||||||||||||||||||||||
Income Tax Rates - The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes. | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | ||||||||||||||||||
State income taxes, net of federal benefits | 5.4 | 5.7 | 5.7 | 5 | 5.4 | 5.8 | 5.5 | 6 | 5.5 | |||||||||||||||||||||||||||
IPL’s tax benefit riders | (12.9 | ) | (12.1 | ) | (11.2 | ) | (39.6 | ) | (34.8 | ) | (37.0 | ) | — | — | — | |||||||||||||||||||||
Effect of rate-making on property-related differences | (7.5 | ) | (6.0 | ) | (5.0 | ) | (21.9 | ) | (15.9 | ) | (14.2 | ) | (0.7 | ) | (0.8 | ) | (1.1 | ) | ||||||||||||||||||
Production tax credits | (7.1 | ) | (7.1 | ) | (5.8 | ) | (9.8 | ) | (9.5 | ) | (9.6 | ) | (6.5 | ) | (6.3 | ) | (4.7 | ) | ||||||||||||||||||
Adjustment of prior period taxes | (1.3 | ) | (1.3 | ) | — | (3.5 | ) | (3.6 | ) | 0.2 | (0.1 | ) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||
State apportionment change due to announced sale of RMT | — | — | 3.5 | — | — | 6.2 | — | — | 2.7 | |||||||||||||||||||||||||||
Other items, net | (1.5 | ) | (1.8 | ) | (1.4 | ) | (1.4 | ) | (1.5 | ) | (1.6 | ) | (1.1 | ) | (0.9 | ) | (0.8 | ) | ||||||||||||||||||
Overall income tax rate | 10.1 | % | 12.4 | % | 20.8 | % | (36.2 | %) | (24.9 | %) | (15.2 | %) | 32.1 | % | 32.9 | % | 36.3 | % | ||||||||||||||||||
IPL’s tax benefit riders - Alliant Energy’s and IPL’s effective income tax rates include the impact of reducing income tax expense with offsetting reductions to regulatory liabilities as a result of implementing the tax benefit riders. Refer to Note 2 for additional details on IPL’s tax benefit riders. | ||||||||||||||||||||||||||||||||||||
Effect of rate-making on property-related differences - Alliant Energy’s and IPL’s income tax expense and benefits are impacted by certain property-related differences at IPL for which deferred tax is not recognized in the income statement pursuant to Iowa rate-making principles. For example, tax expenses and benefits related to mixed service costs and repairs expenditures at IPL are recorded as a component of income tax expense pursuant to Iowa rate-making principles. In 2013, the primary factor contributing to the increase in the current tax benefits recorded for the effect of rate-making on property-related differences was increased repairs expenditures and the equity component of AFUDC at IPL. In 2014, the increased benefits from property-related differences were primarily due to additional repairs deductions and additional deductions from the allocation of mixed service costs related to Marshalltown. | ||||||||||||||||||||||||||||||||||||
Production tax credits - Production tax credits are earned from owned and operated wind projects. Production tax credits are based on the electricity generated by each wind project during the first 10 years of operation. Details regarding production tax credits (net of state tax impacts) related to various wind projects are as follows (dollars in millions): | ||||||||||||||||||||||||||||||||||||
End of Production | Nameplate | |||||||||||||||||||||||||||||||||||
Tax Credit Generation | Capacity in MW | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Cedar Ridge (WPL) | Dec-18 | 68 | $4.00 | $4.10 | $4.00 | |||||||||||||||||||||||||||||||
Bent Tree (WPL) | Feb-21 | 201 | 13.3 | 12.5 | 8.3 | |||||||||||||||||||||||||||||||
Subtotal (WPL) | 17.3 | 16.6 | 12.3 | |||||||||||||||||||||||||||||||||
Whispering Willow - East (IPL) | Dec-19 | 200 | 14 | 14.4 | 12.5 | |||||||||||||||||||||||||||||||
$31.30 | $31.00 | $24.80 | ||||||||||||||||||||||||||||||||||
State apportionment change due to announced sale of RMT - State apportionment projections are utilized to record deferred tax assets and liabilities each reporting period. Deferred tax assets and liabilities for temporary differences between the tax basis of assets and liabilities and the amounts reported in the financial statements are recorded utilizing currently enacted tax rates and estimates of future state apportionment rates expected to be in effect at the time the temporary differences reverse. These state apportionment projections are most significantly impacted by the estimated amount of revenues expected in the future from each state jurisdiction for Alliant Energy’s consolidated tax groups, including both its regulated and its non-regulated operations. In 2012, Alliant Energy, IPL and WPL recorded $15 million, $8 million and $7 million, respectively, of deferred income tax expense due to changes in state apportionment projections caused by the announced sale of Alliant Energy’s RMT business. | ||||||||||||||||||||||||||||||||||||
Deferred Tax Assets and Liabilities - The deferred income tax (assets) and liabilities included on Alliant Energy’s balance sheets at December 31 arise from the following temporary differences (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
Alliant Energy | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $2,627.80 | $2,627.80 | $— | $2,316.30 | $2,316.30 | ||||||||||||||||||||||||||||||
Investment in ATC | — | 131.6 | 131.6 | — | 120.7 | 120.7 | ||||||||||||||||||||||||||||||
Net operating losses carryforwards - state | (45.7 | ) | — | (45.7 | ) | (35.3 | ) | — | (35.3 | ) | ||||||||||||||||||||||||||
Regulatory liability - IPL’s tax benefit riders | (100.9 | ) | — | (100.9 | ) | (107.8 | ) | — | (107.8 | ) | ||||||||||||||||||||||||||
Federal credit carryforwards | (201.0 | ) | — | (201.0 | ) | (167.8 | ) | — | (167.8 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (332.8 | ) | — | (332.8 | ) | (251.9 | ) | — | (251.9 | ) | ||||||||||||||||||||||||||
Other | (88.1 | ) | 180.1 | 92 | (108.9 | ) | 210.7 | 101.8 | ||||||||||||||||||||||||||||
Subtotal | ($768.5 | ) | $2,939.50 | $2,171.00 | ($671.7 | ) | $2,647.70 | $1,976.00 | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($150.1 | ) | ($136.7 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 2,321.10 | 2,112.70 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $2,171.00 | $1,976.00 | ||||||||||||||||||||||||||||||||||
The deferred income tax (assets) and liabilities included on IPL’s balance sheets at December 31 arise from the following temporary differences (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
IPL | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $1,531.00 | $1,531.00 | $— | $1,338.10 | $1,338.10 | ||||||||||||||||||||||||||||||
Federal credit carryforwards | (67.7 | ) | — | (67.7 | ) | (52.9 | ) | — | (52.9 | ) | ||||||||||||||||||||||||||
Regulatory liability - tax benefit riders | (100.9 | ) | — | (100.9 | ) | (107.8 | ) | — | (107.8 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (160.6 | ) | — | (160.6 | ) | (111.3 | ) | — | (111.3 | ) | ||||||||||||||||||||||||||
Other | (47.2 | ) | 81.9 | 34.7 | (64.0 | ) | 103.2 | 39.2 | ||||||||||||||||||||||||||||
($376.4 | ) | $1,612.90 | $1,236.50 | ($336.0 | ) | $1,441.30 | $1,105.30 | |||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($104.9 | ) | ($87.7 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 1,341.40 | 1,193.00 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $1,236.50 | $1,105.30 | ||||||||||||||||||||||||||||||||||
The deferred income tax (assets) and liabilities included on WPL’s balance sheets at December 31 arise from the following temporary differences (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
WPL | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $964.40 | $964.40 | $— | $859.10 | $859.10 | ||||||||||||||||||||||||||||||
Investment in ATC | — | 131.6 | 131.6 | — | 120.7 | 120.7 | ||||||||||||||||||||||||||||||
Federal credit carryforwards | (75.2 | ) | — | (75.2 | ) | (57.1 | ) | — | (57.1 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (128.9 | ) | — | (128.9 | ) | (106.9 | ) | — | (106.9 | ) | ||||||||||||||||||||||||||
Other | (40.3 | ) | 80.9 | 40.6 | (37.6 | ) | 75.6 | 38 | ||||||||||||||||||||||||||||
($244.4 | ) | $1,176.90 | $932.50 | ($201.6 | ) | $1,055.40 | $853.80 | |||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($37.5 | ) | ($43.3 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 970 | 897.1 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $932.50 | $853.80 | ||||||||||||||||||||||||||||||||||
Property - Property-related differences were primarily related to accelerated depreciation, including bonus depreciation. In December 2014, the FTIP Act was enacted. The most significant provisions of the FTIP Act for Alliant Energy, IPL and WPL are related to the extension of bonus depreciation deductions for certain expenditures for property that were incurred through December 31, 2014. As a result, Alliant Energy currently estimates its total bonus depreciation deductions to be claimed on its U.S. federal income tax return for calendar year 2014 will be approximately $450 million ($245 million for IPL and $190 million for WPL). Property-related differences also related to tax accounting method changes for cost of removal expenditures and repair expenditures for electric generation property, which are discussed in Note 2. | ||||||||||||||||||||||||||||||||||||
Investment in ATC - WPL Transco has a partial ownership interest in ATC, which has generated deferred tax liabilities primarily from tax depreciation deductions taken at ATC in excess of book depreciation. The increase in deferred tax liabilities in 2014 was primarily due to bonus depreciation deductions estimated at ATC. | ||||||||||||||||||||||||||||||||||||
Carryforwards - At December 31, 2014, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $970 | $333 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (a) | 881 | 46 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 204 | 201 | 2022 | |||||||||||||||||||||||||||||||||
$580 | ||||||||||||||||||||||||||||||||||||
IPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $468 | $161 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (b) | 291 | 16 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 69 | 68 | 2022 | |||||||||||||||||||||||||||||||||
$245 | ||||||||||||||||||||||||||||||||||||
WPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $376 | $129 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (c) | 171 | 9 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 77 | 75 | 2022 | |||||||||||||||||||||||||||||||||
$213 | ||||||||||||||||||||||||||||||||||||
(a) | At December 31, 2014, Alliant Energy’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(b) | At December 31, 2014, IPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(c) | At December 31, 2014, WPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024. | |||||||||||||||||||||||||||||||||||
Regulatory liability - tax benefit riders - Refer to Note 2 for discussion of regulatory liabilities associated with IPL’s tax benefit riders. | ||||||||||||||||||||||||||||||||||||
Uncertain Tax Positions - A reconciliation of the beginning and ending amounts of uncertain tax positions, excluding interest, is as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Balance, January 1 | $— | $0.70 | $23.50 | $— | $— | $10.90 | $— | $0.70 | $12.60 | |||||||||||||||||||||||||||
Additions based on tax positions related to the current year | — | — | 0.7 | — | — | — | — | — | 0.7 | |||||||||||||||||||||||||||
Reductions for tax positions of prior years (a) | — | (0.7 | ) | (23.5 | ) | — | — | (10.9 | ) | — | (0.7 | ) | (12.6 | ) | ||||||||||||||||||||||
Balance, December 31 | $— | $— | $0.70 | $— | $— | $— | $— | $— | $0.70 | |||||||||||||||||||||||||||
(a) | In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energy’s federal income tax return audits for calendar years 2005 through 2009. | |||||||||||||||||||||||||||||||||||
At December 31, 2014, 2013 and 2012, there were no penalties accrued related to uncertain tax positions, and interest accrued and tax positions favorably impacting future effective tax rates for continuing operations were not material. As of December 31, 2014, no material changes to unrecognized tax benefits are expected during the next 12 months. | ||||||||||||||||||||||||||||||||||||
Open tax years - Tax years that remain subject to the statute of limitations in the major jurisdictions are as follows: | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Consolidated federal income tax returns (a) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Consolidated Iowa income tax returns (b) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Wisconsin combined tax returns (c) | 2010 | - | 2013 | 2010 | - | 2013 | 2010 | - | 2013 | |||||||||||||||||||||||||||
(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. |
Benefit_Plans
Benefit Plans | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Benefit Plans | BENEFIT PLANS | |||||||||||||||||||||||||||||||||||
(a) Pension and Other Postretirement Benefits Plans - Retirement benefits are provided to substantially all employees through various qualified and non-qualified non-contributory defined benefit pension plans, and/or through defined contribution plans (including 401(k) savings plans). Qualified and non-qualified non-contributory defined benefit pension plans are currently closed to new hires. Benefits of the non-contributory defined benefit pension plans are based on the plan participant’s years of service, age and compensation. Benefits of the defined contribution plans are based on the plan participant’s years of service, age, compensation and contributions. Certain defined benefit postretirement health care and life benefits are provided to eligible retirees. In general, the retiree health care plans consist of fixed benefit subsidy structures and the retiree life insurance plans are non-contributory. | ||||||||||||||||||||||||||||||||||||
Assumptions - The assumptions for defined benefit pension and OPEB plans at the measurement date of December 31 were as follows: | ||||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.18% | 4.97% | 4.11% | 3.97% | 4.59% | 3.82% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 4.97% | 4.11% | 4.86% | 4.59% | 3.82% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.40% | 7.40% | 7.50% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | N/A | 3.50% | 3.50% | |||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.94% | 4.55% | 3.76% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.55% | 3.76% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.60% | 7.50% | 7.40% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.96% | 4.56% | 3.81% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.56% | 3.81% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.30% | 7.20% | 7.00% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets - The expected rate of return on plan assets is determined by analysis of projected asset class returns based on the target asset class allocations. A forward-looking building blocks approach is used, and historical returns, survey information and capital market information are reviewed to support the expected rate of return on plan assets assumption. Refer to “Investment Policy and Strategy for Plan Assets” below for additional information related to investment policy, and strategy and mix of assets for the pension and OPEB plans. | ||||||||||||||||||||||||||||||||||||
Life Expectancy - The life expectancy assumption is used in determining the benefit obligation and net periodic benefit cost for defined benefit pension and OPEB plans. This assumption was updated for the measurement date as of December 31, 2014 to utilize new mortality tables that were released in 2014 by the Society of Actuaries. The updated life expectancy assumption resulted in a significant increase to the associated obligations of the pension and OPEB plans. | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Costs (Credits) - The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans are included in the tables below (in millions). In the “IPL” and “WPL” tables below, the defined benefit pension plans costs represent those respective costs for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In the “IPL” and “WPL” tables below, the OPEB plans costs (credits) represent costs (credits) for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. | ||||||||||||||||||||||||||||||||||||
Alliant Energy | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $13.10 | $15.70 | $13.50 | $5.20 | $6.30 | $6.90 | ||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 51.6 | 9.5 | 8.5 | 10.2 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (74.9 | ) | (74.0 | ) | (68.8 | ) | (8.3 | ) | (8.1 | ) | (7.5 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.2 | 0.3 | (11.9 | ) | (11.9 | ) | (12.0 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 19.5 | 36.2 | 33.3 | 2.4 | 4.9 | 6.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 9 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
Settlement losses (e) | — | — | 5.4 | — | — | — | ||||||||||||||||||||||||||||||
$11.80 | $36.10 | $35.40 | ($3.1 | ) | ($0.3 | ) | $3.90 | |||||||||||||||||||||||||||||
IPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $7.20 | $8.60 | $7.50 | $2.40 | $2.90 | $3.00 | ||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 24.1 | 3.9 | 3.6 | 4.4 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (35.7 | ) | (35.2 | ) | (32.6 | ) | (5.8 | ) | (5.6 | ) | (5.1 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.1 | 0.2 | (6.3 | ) | (6.3 | ) | (6.3 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 8 | 15.2 | 14.1 | 1.1 | 2.7 | 3.5 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 2.6 | — | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $14.20 | $13.30 | ($4.7 | ) | ($2.7 | ) | ($0.5 | ) | ||||||||||||||||||||||||||||
WPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $4.90 | $5.90 | $5.20 | $2.00 | $2.50 | $2.70 | ||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 21.6 | 3.8 | 3.4 | 4.1 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (32.4 | ) | (31.9 | ) | (29.6 | ) | (1.3 | ) | (1.3 | ) | (1.3 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | 0.3 | 0.3 | 0.4 | (3.9 | ) | (3.9 | ) | (3.9 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 9.2 | 17.1 | 15.7 | 1.3 | 1.9 | 2.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 0.6 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $12.70 | $13.40 | $1.90 | $2.60 | $3.90 | |||||||||||||||||||||||||||||||
(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 Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits. | |||||||||||||||||||||||||||||||||||
(d) | In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement. | |||||||||||||||||||||||||||||||||||
(e) | Settlement losses related to payments made to retired executives of Alliant Energy. | |||||||||||||||||||||||||||||||||||
Corporate Services provides services to IPL and WPL, and as a result, IPL and WPL are allocated pension and OPEB costs (credits) associated with Corporate Services employees. Such costs (credits) are allocated to IPL and WPL based on total productive labor costs. The following table includes the allocated qualified and non-qualified pension and OPEB costs (credits) associated with Corporate Services employees providing services to IPL and WPL (in millions): | ||||||||||||||||||||||||||||||||||||
Pension Benefits Costs (a) | OPEB Costs (Credits) | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
IPL | $1.40 | $4.80 | $4.90 | ($0.3 | ) | ($0.3 | ) | $0.10 | ||||||||||||||||||||||||||||
WPL | 1.1 | 3.6 | 3.6 | (0.2 | ) | (0.2 | ) | 0.1 | ||||||||||||||||||||||||||||
(a) | Refer to IPL’s and WPL’s “Net Periodic Benefit Costs (Credits)” tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013. | |||||||||||||||||||||||||||||||||||
The estimated amortization from “Regulatory assets” and “Regulatory liabilities” on the balance sheets and AOCL on Alliant Energy’s balance sheet into net periodic benefit cost in 2015 is as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined Benefit | Defined Benefit | Defined Benefit | ||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||
Actuarial loss | $35.40 | $4.90 | $15.30 | $2.30 | $16.80 | $2.30 | ||||||||||||||||||||||||||||||
Prior service cost (credit) | (0.3 | ) | (11.3 | ) | (0.1 | ) | (6.1 | ) | 0.2 | (3.5 | ) | |||||||||||||||||||||||||
$35.10 | ($6.4 | ) | $15.20 | ($3.8 | ) | $17.00 | ($1.2 | ) | ||||||||||||||||||||||||||||
Net periodic benefit costs are primarily included in “Utility - Other operation and maintenance” in the income statements. | ||||||||||||||||||||||||||||||||||||
Benefit Plan Assets and Obligations - A reconciliation of the funded status of Alliant Energy’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on Alliant Energy’s balance sheets at December 31 was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $1,113.40 | $1,207.50 | $208.70 | $223.20 | ||||||||||||||||||||||||||||||||
Service cost | 13.1 | 15.7 | 5.2 | 6.3 | ||||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 9.5 | 8.5 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 2.8 | 2.6 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 9 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 195.8 | (94.1 | ) | 22.3 | (13.2 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (74.9 | ) | (73.7 | ) | (17.4 | ) | (18.7 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 1,301.50 | 1,113.40 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 1,022.90 | 965.6 | 124.9 | 123.1 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 66.4 | 128.5 | 5.6 | 14.4 | ||||||||||||||||||||||||||||||||
Employer contributions | 3.7 | 2.5 | 5.7 | 3.5 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 2.8 | 2.6 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (74.9 | ) | (73.7 | ) | (17.4 | ) | (18.7 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 1,018.10 | 1,022.90 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($283.4 | ) | ($90.5 | ) | ($109.5 | ) | ($83.8 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $6.10 | $14.50 | ||||||||||||||||||||||||||||||||
Other current liabilities | (2.5 | ) | (2.4 | ) | (5.6 | ) | (4.8 | ) | ||||||||||||||||||||||||||||
Pension and other benefit obligations | (280.9 | ) | (88.1 | ) | (110.0 | ) | (93.5 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($283.4 | ) | ($90.5 | ) | ($109.5 | ) | ($83.8 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $533.40 | $348.60 | $60.70 | $38.10 | ||||||||||||||||||||||||||||||||
Prior service credit | (7.4 | ) | (7.4 | ) | (16.7 | ) | (28.6 | ) | ||||||||||||||||||||||||||||
$526.00 | $341.20 | $44.00 | $9.50 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 and Alliant Energy’s common equity statements for amounts recognized in “Regulatory assets” and “AOCL,” respectively, on Alliant Energy’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $5.1 million, respectively, of regulatory liabilities were recognized related to Alliant Energy’s OPEB plans. | |||||||||||||||||||||||||||||||||||
In the “IPL” and “WPL” tables below, the defined benefit pension plans amounts represent those respective amounts for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In the “IPL” and “WPL” tables below, the OPEB plans amounts represent amounts for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. | ||||||||||||||||||||||||||||||||||||
A reconciliation of the funded status of IPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on IPL’s balance sheets at December 31 was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $514.00 | $559.20 | $87.80 | $96.00 | ||||||||||||||||||||||||||||||||
Service cost | 7.2 | 8.6 | 2.4 | 2.9 | ||||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 3.9 | 3.6 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 2.6 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 91.4 | (44.3 | ) | 8.6 | (7.0 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (34.6 | ) | (35.0 | ) | (7.2 | ) | (8.6 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 603.1 | 514 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 485.9 | 458.8 | 81.2 | 78.8 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 32.1 | 61.2 | 3.6 | 10 | ||||||||||||||||||||||||||||||||
Employer contributions | 1.3 | 0.9 | 0.2 | 0.1 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (34.6 | ) | (35.0 | ) | (7.2 | ) | (8.6 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 484.7 | 485.9 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($118.4 | ) | ($28.1 | ) | ($17.7 | ) | ($6.6 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $1.20 | $8.80 | ||||||||||||||||||||||||||||||||
Other current liabilities | (0.8 | ) | (0.8 | ) | — | — | ||||||||||||||||||||||||||||||
Pension and other benefit obligations | (117.6 | ) | (27.3 | ) | (18.9 | ) | (15.4 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($118.4 | ) | ($28.1 | ) | ($17.7 | ) | ($6.6 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $233.10 | $146.10 | $27.90 | $18.20 | ||||||||||||||||||||||||||||||||
Prior service credit | (2.6 | ) | (2.6 | ) | (8.7 | ) | (15.0 | ) | ||||||||||||||||||||||||||||
$230.50 | $143.50 | $19.20 | $3.20 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 for amounts recognized in “Regulatory assets” on IPL’s balance sheets. At December 31, 2014 and 2013, $0 and $1.0 million, respectively, of regulatory liabilities were recognized related to IPL’s OPEB plans. | |||||||||||||||||||||||||||||||||||
A reconciliation of the funded status of WPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on WPL’s balance sheets at December 31 was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $460.80 | $506.70 | $85.60 | $89.10 | ||||||||||||||||||||||||||||||||
Service cost | 4.9 | 5.9 | 2 | 2.5 | ||||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 3.8 | 3.4 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 1.3 | 1.2 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 0.6 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 86.7 | (41.1 | ) | 9.2 | (3.0 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (27.4 | ) | (32.0 | ) | (7.9 | ) | (7.6 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 547.6 | 460.8 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 438.8 | 415.4 | 21.7 | 22.3 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 28.6 | 55.2 | 1.2 | 2.5 | ||||||||||||||||||||||||||||||||
Employer contributions | 0.3 | 0.2 | 5.5 | 3.3 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 1.3 | 1.2 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (27.4 | ) | (32.0 | ) | (7.9 | ) | (7.6 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 440.3 | 438.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($107.3 | ) | ($22.0 | ) | ($72.2 | ) | ($63.9 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $4.90 | $5.80 | ||||||||||||||||||||||||||||||||
Other current liabilities | (0.1 | ) | (0.2 | ) | (5.5 | ) | (4.8 | ) | ||||||||||||||||||||||||||||
Pension and other benefit obligations | (107.2 | ) | (21.8 | ) | (71.6 | ) | (64.9 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($107.3 | ) | ($22.0 | ) | ($72.2 | ) | ($63.9 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $233.50 | $152.20 | $26.30 | $18.30 | ||||||||||||||||||||||||||||||||
Prior service credit | (1.0 | ) | (0.7 | ) | (5.6 | ) | (9.5 | ) | ||||||||||||||||||||||||||||
$232.50 | $151.50 | $20.70 | $8.80 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 for amounts recognized in “Regulatory assets” on WPL’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $1.1 million, respectively, of regulatory liabilities were recognized related to WPL’s OPEB plans. | |||||||||||||||||||||||||||||||||||
Included in the following tables are accumulated benefit obligations, aggregate amounts applicable to defined benefit pension and OPEB plans with accumulated benefit obligations in excess of plan assets, as well as defined benefit pension plans with projected benefit obligations in excess of plan assets as of the December 31 measurement date (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $1,255.00 | $1,071.70 | $231.10 | $208.70 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 1,255.00 | 406.5 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 347.6 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 1,301.50 | 1,113.40 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 1,022.90 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $575.50 | $491.50 | $96.40 | $87.80 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 575.5 | 159.3 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 144.6 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 603.1 | 514 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 485.9 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $532.50 | $446.70 | $94.00 | $85.60 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 532.5 | 115.6 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 106.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 547.6 | 460.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 438.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
In addition to the amounts recognized in “Regulatory assets and regulatory liabilities” in the above tables for IPL and WPL, “Regulatory assets” and “Regulatory liabilities” were recognized for amounts associated with Corporate Services employees participating in other Alliant Energy sponsored benefit plans that were allocated to IPL and WPL at December 31 as follows (in millions): | ||||||||||||||||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Regulatory assets | $38.20 | $26.50 | $28.00 | $19.80 | ||||||||||||||||||||||||||||||||
Regulatory liabilities | — | 1.7 | — | 1.3 | ||||||||||||||||||||||||||||||||
Estimated Future Employer Contributions and Benefit Payments - Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2015 is as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined benefit pension plans (a) | $2.50 | $0.80 | $0.20 | |||||||||||||||||||||||||||||||||
OPEB plans | 5.7 | — | 5.5 | |||||||||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
Expected benefit payments for the qualified and non-qualified defined benefit plans, which reflect expected future service, as appropriate, are as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $66.70 | $71.50 | $69.30 | $72.90 | $73.60 | $396.10 | ||||||||||||||||||||||||||||||
OPEB | 17.6 | 16.8 | 16.7 | 16.9 | 17 | 84 | ||||||||||||||||||||||||||||||
$84.30 | $88.30 | $86.00 | $89.80 | $90.60 | $480.10 | |||||||||||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $30.40 | $31.60 | $33.10 | $34.90 | $34.70 | $189.90 | ||||||||||||||||||||||||||||||
OPEB | 7.4 | 7.2 | 7.2 | 7.2 | 7.2 | 35.3 | ||||||||||||||||||||||||||||||
$37.80 | $38.80 | $40.30 | $42.10 | $41.90 | $225.20 | |||||||||||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $28.40 | $28.00 | $28.80 | $30.10 | $30.50 | $163.40 | ||||||||||||||||||||||||||||||
OPEB | 7.7 | 7 | 7 | 7 | 7.1 | 34.2 | ||||||||||||||||||||||||||||||
$36.10 | $35.00 | $35.80 | $37.10 | $37.60 | $197.60 | |||||||||||||||||||||||||||||||
Investment Policy and Strategy for Plan Assets - Investment policies and strategies employed with respect to assets of defined benefit pension and OPEB plans are to combine both preservation of principal and prudent and reasonable risk-taking to protect the integrity of plan assets, in order to meet the obligations to plan participants while minimizing benefit costs over the long term. It is recognized that risk and volatility are present with all types of investments. However, risk is mitigated at the total fund level through diversification by asset class including U.S. and international equity and fixed income exposure, global asset and risk parity strategies, the number of individual investments, and sector and industry limits. Global asset and risk parity strategies include investments in global equity, global debt, commodities and currencies. | ||||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans Assets - For assets of defined benefit pension plans, the mix among asset classes is controlled by asset allocation targets. Historical performance results and future expectations suggest that equity securities will provide higher total investment returns than debt securities over a long-term investment horizon. Consistent with the goals of meeting obligations to plan participants and minimizing benefit costs over the long-term, the defined benefit pension plans have a long-term investment posture more heavily weighted towards equity holdings. The asset allocation is monitored regularly and appropriate steps are taken as needed to rebalance the assets within the prescribed ranges. An overlay management service is also used to help maintain target allocations and meet liquidity needs. The overlay manager is authorized to use derivative financial instruments to facilitate this service. For separately managed accounts, prohibited investment vehicles include, but may not be limited to, direct ownership of real estate, margin trading, oil and gas limited partnerships and securities of the managers’ firms or affiliate firms. | ||||||||||||||||||||||||||||||||||||
At December 31, 2014, the current target ranges and actual allocations for the defined benefit pension plan assets were as follows: | ||||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 5% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 8 | % | - | 18% | 13% | |||||||||||||||||||||||||||||||
U.S. large cap value | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. large cap growth | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. small cap value | 0 | % | - | 4% | 1% | |||||||||||||||||||||||||||||||
U.S. small cap growth | 0 | % | - | 4% | 2% | |||||||||||||||||||||||||||||||
International - developed markets | 7 | % | - | 19% | 10% | |||||||||||||||||||||||||||||||
International - emerging markets | 0 | % | - | 10% | 5% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Risk parity allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Fixed income securities | 20 | % | - | 40% | 30% | |||||||||||||||||||||||||||||||
Other Postretirement Benefits Plans Assets - OPEB plans assets are comprised of specific assets within certain defined benefit pension plans (401(h) assets) as well as assets held in VEBA trusts. The investment policy and strategy of the 401(h) assets mirrors those of the defined benefit pension plans, which are discussed above. For VEBA trusts with assets greater than $5 million, the mix among asset classes is controlled by allocation targets. The asset allocation is monitored regularly and appropriate steps are taken as needed to rebalance the assets within the prescribed ranges. Mutual funds are used to achieve the desired diversification. At December 31, 2014, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million were as follows: | ||||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 2% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
Domestic | 25 | % | - | 45% | 36% | |||||||||||||||||||||||||||||||
International | 10 | % | - | 20% | 14% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 20 | % | - | 40% | 29% | |||||||||||||||||||||||||||||||
Fixed income securities | 10 | % | - | 30% | 19% | |||||||||||||||||||||||||||||||
Fair Value Measurements - The following tables report a framework for measuring fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy and examples of each are as follows: | ||||||||||||||||||||||||||||||||||||
Level 1 - Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the reporting date. Investments in securities held in registered investment companies and directly held equity securities are valued at the closing price reported in the active market in which the securities are traded. | ||||||||||||||||||||||||||||||||||||
Level 2 - Pricing inputs are quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Investments in common/collective trusts are valued at the net asset value of shares held by the plans, which is based on the fair market value of the underlying investments in the common/collective trusts. Investments in corporate bonds and government and agency obligations are valued at the closing price reported in the active market for similar assets in which the individual securities are traded or based on yields currently available on comparable securities of issuers with similar credit ratings. | ||||||||||||||||||||||||||||||||||||
Level 3 - Pricing inputs are unobservable inputs for assets or liabilities for which little or no market data exist and require significant management judgment or estimation. | ||||||||||||||||||||||||||||||||||||
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. | ||||||||||||||||||||||||||||||||||||
The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while Alliant Energy, IPL and WPL believe their valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. | ||||||||||||||||||||||||||||||||||||
At December 31, the fair values of Alliant Energy’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $49.30 | $— | $49.30 | $— | $32.60 | $— | $32.60 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 137.2 | 137.2 | — | — | 134.1 | 134.1 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 72.2 | — | 72.2 | — | 77 | — | 77 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 73.2 | — | 73.2 | — | 77.4 | — | 77.4 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 15.2 | — | 15.2 | — | 20.7 | — | 20.7 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 15.9 | 15.9 | — | — | 20.8 | 20.8 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 102.9 | 52.1 | 50.8 | — | 136.3 | 68 | 68.3 | — | ||||||||||||||||||||||||||||
International - emerging markets | 47.2 | 47.2 | — | — | 48.4 | 48.4 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 99.9 | 57.2 | 42.7 | — | 99.1 | 56.7 | 42.4 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 102.5 | — | 102.5 | — | 96.1 | — | 96.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | 0.1 | — | 0.1 | — | 29.2 | — | 29.2 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 49.1 | — | 49.1 | — | ||||||||||||||||||||||||||||
Fixed income funds | 302.7 | 0.2 | 302.5 | — | 202.2 | 0.2 | 202 | — | ||||||||||||||||||||||||||||
1,018.30 | $309.80 | $708.50 | $— | 1,023.00 | $328.20 | $694.80 | $— | |||||||||||||||||||||||||||||
Accrued investment income | 0.1 | 0.7 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.3 | ) | (0.8 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $1,018.10 | $1,022.90 | ||||||||||||||||||||||||||||||||||
At December 31, the fair values of IPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $23.50 | $— | $23.50 | $— | $15.40 | $— | $15.40 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 65.3 | 65.3 | — | — | 63.7 | 63.7 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 34.4 | — | 34.4 | — | 36.6 | — | 36.6 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 34.9 | — | 34.9 | — | 36.8 | — | 36.8 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 7.2 | — | 7.2 | — | 9.8 | — | 9.8 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 7.6 | 7.6 | — | — | 9.9 | 9.9 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 49 | 24.8 | 24.2 | — | 64.8 | 32.3 | 32.5 | — | ||||||||||||||||||||||||||||
International - emerging markets | 22.5 | 22.5 | — | — | 23 | 23 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 47.5 | 27.2 | 20.3 | — | 47.1 | 27 | 20.1 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 48.8 | — | 48.8 | — | 45.7 | — | 45.7 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 13.9 | — | 13.9 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 23.3 | — | 23.3 | — | ||||||||||||||||||||||||||||
Fixed income funds | 144.1 | 0.1 | 144 | — | 96.1 | 0.1 | 96 | — | ||||||||||||||||||||||||||||
484.8 | $147.50 | $337.30 | $— | 486.1 | $156.00 | $330.10 | $— | |||||||||||||||||||||||||||||
Accrued investment income | 0.1 | 0.2 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.2 | ) | (0.4 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $484.70 | $485.90 | ||||||||||||||||||||||||||||||||||
At December 31, the fair values of WPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $21.30 | $— | $21.30 | $— | $14.00 | $— | $14.00 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 59.3 | 59.3 | — | — | 57.5 | 57.5 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 31.3 | — | 31.3 | — | 33.1 | — | 33.1 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 31.7 | — | 31.7 | — | 33.2 | — | 33.2 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 6.6 | — | 6.6 | — | 8.9 | — | 8.9 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 6.9 | 6.9 | — | — | 8.9 | 8.9 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 44.5 | 22.5 | 22 | — | 58.5 | 29.2 | 29.3 | — | ||||||||||||||||||||||||||||
International - emerging markets | 20.4 | 20.4 | — | — | 20.8 | 20.8 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 43.2 | 24.8 | 18.4 | — | 42.5 | 24.3 | 18.2 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 44.3 | — | 44.3 | — | 41.2 | — | 41.2 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 12.5 | — | 12.5 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 21 | — | 21 | — | ||||||||||||||||||||||||||||
Fixed income funds | 130.9 | 0.1 | 130.8 | — | 86.8 | 0.1 | 86.7 | — | ||||||||||||||||||||||||||||
440.4 | $134.00 | $306.40 | $— | 438.9 | $140.80 | $298.10 | $— | |||||||||||||||||||||||||||||
Accrued investment income | — | 0.2 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $440.30 | $438.80 | ||||||||||||||||||||||||||||||||||
At December 31, the fair values of Alliant Energy’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $3.70 | $— | $3.70 | $— | $3.90 | $— | $3.90 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 35.8 | 35.8 | — | — | 36.8 | 36.8 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 2.9 | 2.9 | — | — | 2.9 | 2.9 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 1.5 | — | 1.5 | — | 1.7 | — | 1.7 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 1.6 | — | 1.6 | — | 1.7 | — | 1.7 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.3 | — | 0.3 | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.4 | 0.4 | — | — | 0.5 | 0.5 | — | — | ||||||||||||||||||||||||||||
International - blend | 14.2 | 14.2 | — | — | 15.4 | 15.4 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 2.2 | 1.1 | 1.1 | — | 3 | 1.5 | 1.5 | — | ||||||||||||||||||||||||||||
International - emerging markets | 1 | 1 | — | — | 1.1 | 1.1 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 30.3 | 29.4 | 0.9 | — | 30.4 | 29.5 | 0.9 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 2.2 | — | 2.2 | — | 2.1 | — | 2.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.6 | — | 0.6 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 1.1 | — | 1.1 | — | ||||||||||||||||||||||||||||
Fixed income funds | 25.5 | 19 | 6.5 | — | 23.2 | 18.8 | 4.4 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $121.60 | $103.80 | $17.80 | $— | $124.90 | $106.50 | $18.40 | $— | ||||||||||||||||||||||||||||
At December 31, the fair values of IPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $1.40 | $— | $1.40 | $— | $1.50 | $— | $1.50 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 27.2 | 27.2 | — | — | 27.8 | 27.8 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 0.5 | 0.5 | — | — | 0.7 | 0.7 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 0.3 | — | 0.3 | — | 0.4 | — | 0.4 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 0.3 | — | 0.3 | — | 0.4 | — | 0.4 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.1 | — | 0.1 | — | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.1 | 0.1 | — | — | 0.1 | 0.1 | — | — | ||||||||||||||||||||||||||||
International - blend | 10.7 | 10.7 | — | — | 11.6 | 11.6 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 0.4 | 0.2 | 0.2 | — | 0.8 | 0.4 | 0.4 | — | ||||||||||||||||||||||||||||
International - emerging markets | 0.2 | 0.2 | — | — | 0.3 | 0.3 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 21.6 | 21.5 | 0.1 | — | 21.6 | 21.4 | 0.2 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 0.4 | — | 0.4 | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 0.3 | — | 0.3 | — | ||||||||||||||||||||||||||||
Fixed income funds | 15.5 | 14.3 | 1.2 | — | 15 | 13.9 | 1.1 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $78.70 | $74.70 | $4.00 | $— | $81.20 | $76.20 | $5.00 | $— | ||||||||||||||||||||||||||||
At December 31, the fair values of WPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $1.40 | $— | $1.40 | $— | $1.40 | $— | $1.40 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 3.6 | 3.6 | — | — | 3.6 | 3.6 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 1.6 | 1.6 | — | — | 1.5 | 1.5 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 0.8 | — | 0.8 | — | 0.8 | — | 0.8 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 0.8 | — | 0.8 | — | 0.8 | — | 0.8 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.2 | — | 0.2 | — | 0.2 | — | 0.2 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.2 | 0.2 | — | — | 0.2 | 0.2 | — | — | ||||||||||||||||||||||||||||
International - blend | 1.4 | 1.4 | — | — | 1.5 | 1.5 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 1.2 | 0.6 | 0.6 | — | 1.5 | 0.7 | 0.8 | — | ||||||||||||||||||||||||||||
International - emerging markets | 0.5 | 0.5 | — | — | 0.5 | 0.5 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 3.8 | 3.3 | 0.5 | — | 3.8 | 3.3 | 0.5 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 1.1 | — | 1.1 | — | 1.1 | — | 1.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.3 | — | 0.3 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
Fixed income funds | 5.2 | 1.8 | 3.4 | — | 4 | 1.8 | 2.2 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $21.80 | $13.00 | $8.80 | $— | $21.70 | $13.10 | $8.60 | $— | ||||||||||||||||||||||||||||
For the various defined benefit pension and OPEB plans, Alliant Energy common stock represented less than 1% of assets directly held in the plans at December 31, 2014 and 2013. | ||||||||||||||||||||||||||||||||||||
Cash Balance Plan - Alliant Energy’s defined benefit pension plans include the Cash Balance Plan, which provides benefits for certain non-bargaining unit employees. The Cash Balance Plan has been closed to new hires since 2005. Effective 2008, Alliant Energy amended the Cash Balance Plan by discontinuing additional contributions into employees’ Cash Balance Plan accounts and increased its level of contributions to its 401(k) Savings Plan. In 2009, Alliant Energy amended the Cash Balance Plan by changing participants’ future interest credit formula to use the annual change in the consumer price index. This amendment provides participants an interest crediting rate that is 3% more than the annual change in the consumer price index. | ||||||||||||||||||||||||||||||||||||
In 2008, a class-action lawsuit was filed against the Cash Balance Plan. The complaint alleged that certain Cash Balance Plan participants who received distributions prior to their normal retirement age did not receive the full benefit to which they were entitled in violation of the Employee Retirement Income Security Act of 1974 because the Cash Balance Plan applied an improper interest crediting rate to project the cash balance account to their normal retirement age. These Cash Balance Plan participants were limited to individuals who, prior to normal retirement age, received a lump-sum distribution or an annuity payment. | ||||||||||||||||||||||||||||||||||||
The Cash Balance Plan entered into a stipulation agreement with the plaintiffs, which was filed with the Court in 2013 settling all open matters in the case. In January 2014, the Court entered final judgment in the total amount of $9.0 million. Plaintiffs’ attorney’s fees and costs were paid from the final damages. Due to the stipulation agreement filed with the Court in 2013, Alliant Energy, IPL and WPL recognized the additional benefits to be paid to the plaintiffs in their income statements in 2013. As a result of the January 2014 final Court order requiring plaintiffs’ attorney’s fees and costs to be paid out of the final judgment, Alliant Energy, IPL and WPL reversed the reserve previously recorded related to payment of plaintiffs’ attorney’s fees and costs. As a result of recognizing the additional benefits of $9.0 million to be paid to the plaintiffs and reversing the previously recorded reserve of $6.7 million for plaintiffs’ attorney’s fees and costs, there was not a net material impact on Alliant Energy’s, IPL’s or WPL’s results of operations for 2013. | ||||||||||||||||||||||||||||||||||||
401(k) Savings Plans - A significant number of employees participate in defined contribution retirement plans (401(k) savings plans). Alliant Energy common stock represented 12.6% and 11.3% of total assets held in 401(k) savings plans at December 31, 2014 and 2013, respectively. Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions, were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL (a) | WPL (a) | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
401(k) costs | $22.50 | $19.20 | $18.50 | $11.10 | $9.90 | $9.60 | $10.50 | $8.50 | $8.10 | |||||||||||||||||||||||||||
(a) | IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees. | |||||||||||||||||||||||||||||||||||
(b) Equity-based Compensation Plans - In 2010, Alliant Energy’s shareowners approved the OIP, which permits the grant of stock options, restricted stock, restricted stock units, performance shares, performance units, and other stock-based awards and performance-based cash awards to key employees. At December 31, 2014, performance shares and restricted stock were outstanding and 3.9 million shares of Alliant Energy’s common stock remained available for grants under the OIP. Alliant Energy satisfies payouts related to equity awards under the OIP through the issuance of new shares of its common stock. Alliant Energy also has the DLIP, which permits the grant of cash-based long-term performance-based awards, including performance units and restricted cash awards to certain key employees. At December 31, 2014, performance units and performance contingent cash awards were outstanding under the DLIP. There is no limit to the number of grants that can be made under the DLIP and Alliant Energy satisfies all payouts under the DLIP through cash payments. | ||||||||||||||||||||||||||||||||||||
A summary of compensation expense (including amounts allocated to IPL and WPL) and the related income tax benefits recognized for share-based compensation awards was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Compensation expense | $15.30 | $12.00 | $6.90 | $8.30 | $6.20 | $3.60 | $6.40 | $5.20 | $3.00 | |||||||||||||||||||||||||||
Income tax benefits | 6.2 | 4.8 | 2.8 | 3.4 | 2.5 | 1.5 | 2.6 | 2.1 | 1.2 | |||||||||||||||||||||||||||
As of December 31, 2014, total unrecognized compensation cost related to share-based compensation awards was $6.5 million, which is expected to be recognized over a weighted average period of between 1 and 2 years. Share-based compensation expense is recognized on a straight-line basis over the requisite service periods and is primarily recorded in “Utility - Other operation and maintenance” in the income statements. | ||||||||||||||||||||||||||||||||||||
Performance Shares and Units - Payouts of performance shares and units to key employees are contingent upon achievement over 3-year periods of specified performance criteria, which currently include metrics of total shareowner return relative to an investor-owned utility peer group. Payouts of nonvested performance shares and units are based on achievement of the performance criteria and are prorated at retirement, death or disability based on time worked during the first year of the performance period and prorated at involuntary termination without cause based on time worked during the entire performance period. Upon achievement of the performance criteria, payouts of these performance shares and units to participants who terminate employment after the first year of the performance period due to retirement, death or disability are not prorated. Participants’ nonvested performance shares and units are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause. Nonvested performance shares and units do not have non-forfeitable rights to dividends when dividends are paid to common shareowners. Alliant Energy assumes it will make future payouts of its performance shares and units in cash; therefore, performance shares and units are accounted for as liability awards. | ||||||||||||||||||||||||||||||||||||
Performance Shares - Performance shares can be paid out in shares of Alliant Energy’s common stock, cash or a combination of cash and stock and are adjusted by a performance multiplier, which ranges from zero to 200% based on the performance criteria. A summary of the performance shares activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares (a) | Shares (a) | Shares (a) | ||||||||||||||||||||||||||||||||||
Nonvested shares, January 1 | 139,940 | 145,277 | 236,979 | |||||||||||||||||||||||||||||||||
Granted | 51,221 | 49,093 | 45,612 | |||||||||||||||||||||||||||||||||
Vested | (45,235 | ) | (54,430 | ) | (111,980 | ) | ||||||||||||||||||||||||||||||
Forfeited (b) | (1,502 | ) | — | (25,334 | ) | |||||||||||||||||||||||||||||||
Nonvested shares, December 31 | 144,424 | 139,940 | 145,277 | |||||||||||||||||||||||||||||||||
(a) | Share amounts represent the target number of performance shares. Each performance share’s value is based on the closing market price of one share of Alliant Energy’s common stock at the end of the performance period. The actual number of shares that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of shares. | |||||||||||||||||||||||||||||||||||
(b) | Forfeitures were primarily caused by retirements and voluntary terminations of participants. | |||||||||||||||||||||||||||||||||||
Certain performance shares vested, resulting in payouts (a combination of cash and common stock) as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
2011 Grant | 2010 Grant | 2009 Grant | ||||||||||||||||||||||||||||||||||
Performance shares vested | 45,235 | 54,430 | 111,980 | |||||||||||||||||||||||||||||||||
Percentage of target number of performance shares | 147.5 | % | 197.5 | % | 162.5 | % | ||||||||||||||||||||||||||||||
Aggregate payout value (in millions) | $3.40 | $4.80 | $8.00 | |||||||||||||||||||||||||||||||||
Payout - cash (in millions) | $2.90 | $4.40 | $7.80 | |||||||||||||||||||||||||||||||||
Payout - common stock shares issued | 4,810 | 4,177 | 6,399 | |||||||||||||||||||||||||||||||||
Performance Units - Performance units must be paid out in cash and are adjusted by a performance multiplier, which ranges from zero to 200% based on the performance criteria. A summary of the performance unit activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Units (a) | Units (a) | Units (a) | ||||||||||||||||||||||||||||||||||
Nonvested units, January 1 | 65,912 | 64,969 | 42,996 | |||||||||||||||||||||||||||||||||
Granted | 20,422 | 22,201 | 24,686 | |||||||||||||||||||||||||||||||||
Vested | (20,751 | ) | (19,760 | ) | — | |||||||||||||||||||||||||||||||
Forfeited | (1,918 | ) | (1,498 | ) | (2,713 | ) | ||||||||||||||||||||||||||||||
Nonvested units, December 31 | 63,665 | 65,912 | 64,969 | |||||||||||||||||||||||||||||||||
(a) | Unit amounts represent the target number of performance units. Each performance unit’s value is based on the average price of one share of Alliant Energy’s common stock on the grant date of the award. The actual payout for performance units is dependent upon actual performance and may range from zero to 200% of the target number of units. | |||||||||||||||||||||||||||||||||||
Certain performance units vested, resulting in cash payouts as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
2011 Grant | 2010 Grant | |||||||||||||||||||||||||||||||||||
Performance units vested | 20,751 | 19,760 | ||||||||||||||||||||||||||||||||||
Percentage of target number of performance units | 147.5 | % | 197.5 | % | ||||||||||||||||||||||||||||||||
Payout value (in millions) | $1.20 | $1.30 | ||||||||||||||||||||||||||||||||||
Fair Value of Awards - Information related to fair values of nonvested performance shares and units at December 31, 2014, by year of grant, were as follows: | ||||||||||||||||||||||||||||||||||||
Performance Shares | Performance Units | |||||||||||||||||||||||||||||||||||
2014 Grant | 2013 Grant | 2012 Grant | 2014 Grant | 2013 Grant | 2012 Grant | |||||||||||||||||||||||||||||||
Nonvested awards | 49,719 | 49,093 | 45,612 | 19,440 | 21,380 | 22,845 | ||||||||||||||||||||||||||||||
Alliant Energy common stock closing price on December 31, 2014 | $66.42 | $66.42 | $66.42 | |||||||||||||||||||||||||||||||||
Alliant Energy common stock closing price on grant date | $53.77 | $47.58 | $43.05 | |||||||||||||||||||||||||||||||||
Estimated payout percentage based on performance criteria | 125 | % | 160 | % | 168 | % | 125 | % | 160 | % | 168 | % | ||||||||||||||||||||||||
Fair values of each nonvested award | $83.03 | $106.27 | $111.25 | $67.21 | $76.13 | $72.11 | ||||||||||||||||||||||||||||||
At December 31, 2014, fair values of nonvested performance shares and units were calculated using a Monte Carlo simulation to determine the anticipated total shareowner returns of Alliant Energy and its investor-owned utility peer group. Expected volatility was based on historical volatilities using daily stock prices over the past three years. Expected dividend yields were calculated based on the most recent quarterly dividend rates announced prior to the measurement date and stock prices at the measurement date. The risk-free interest rate was based on the three-year U.S. Treasury rate in effect as of the measurement date. | ||||||||||||||||||||||||||||||||||||
Performance-contingent Restricted Stock - Vesting of performance-contingent restricted stock grants are based on the achievement of certain performance targets (currently specified growth of consolidated income from continuing operations). If performance targets are not met within the performance period, which currently ranges from two to four years, these restricted stock grants are forfeited. Payouts of nonvested performance-contingent restricted stock are based on achievement of the performance criteria and are prorated at retirement, death or disability based on time worked during the first year of the performance period and prorated at involuntary termination without cause based on time worked during the entire performance period. Upon achievement of the performance criteria, payouts of this performance-contingent restricted stock to participants who terminate employment after the first year of the performance period due to retirement, death or disability are not prorated. Participants’ nonvested performance-contingent restricted stock is forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause. The fair value of performance-contingent restricted stock is based on the closing market price on the grant date. A summary of the performance-contingent restricted stock activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | |||||||||||||||||||||||||||||||
Average | Average | Average | ||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||||||||||||||||||||
Nonvested shares, January 1 | 158,922 | $42.71 | 211,651 | $32.42 | 301,738 | $32.60 | ||||||||||||||||||||||||||||||
Granted | 51,221 | 53.77 | 49,093 | 47.58 | 45,612 | 43.05 | ||||||||||||||||||||||||||||||
Vested (a) | (90,847 | ) | 40.91 | — | — | (65,172 | ) | 32.56 | ||||||||||||||||||||||||||||
Forfeited (b) | (20,484 | ) | 39.85 | (101,822 | ) | 23.67 | (70,527 | ) | 39.93 | |||||||||||||||||||||||||||
Nonvested shares, December 31 | 98,812 | 50.69 | 158,922 | 42.71 | 211,651 | 32.42 | ||||||||||||||||||||||||||||||
(a) | In 2014, 45,612 and 45,235 performance contingent restricted shares granted in 2012 and 2011, respectively, vested because the specified performance criteria for such shares were met. In 2012, 65,172 performance-contingent restricted shares granted in 2010 vested because the specified performance criteria for such shares were met. | |||||||||||||||||||||||||||||||||||
(b) | In 2013 and 2012, 101,822 and 65,516 performance-contingent restricted shares granted in 2009 and 2008, respectively, were forfeited because the specified performance criteria for such shares were not met. The remaining forfeitures during 2014 and 2012 were primarily caused by retirements and terminations of participants. | |||||||||||||||||||||||||||||||||||
Performance Contingent Cash Awards - Performance contingent cash award payouts to key employees are based on the achievement of certain performance targets (currently specified growth of consolidated income from continuing operations). If performance targets are not met within the performance period, which currently ranges from two to four years, there are no payouts for these awards. Payouts of nonvested awards are based on achievement of the performance criteria and are prorated at retirement, death or disability based on time worked during the first year of the performance period. Upon achievement of the performance criteria, payouts of these awards to participants who terminate employment after the first year of the performance period due to retirement, death or disability are not prorated. Participants’ nonvested awards are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause. Each performance contingent cash award’s value is based on the price of one share of Alliant Energy’s common stock at the end of the performance period. Alliant Energy accounts for performance contingent cash awards as liability awards because payouts will be made in the form of cash. A summary of the performance contingent cash awards activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Awards | Awards | Awards | ||||||||||||||||||||||||||||||||||
Nonvested awards, January 1 | 96,977 | 59,639 | 46,676 | |||||||||||||||||||||||||||||||||
Granted | 42,446 | 39,530 | 36,936 | |||||||||||||||||||||||||||||||||
Vested (a) | (55,517 | ) | — | (21,605 | ) | |||||||||||||||||||||||||||||||
Forfeited | (4,976 | ) | (2,192 | ) | (2,368 | ) | ||||||||||||||||||||||||||||||
Nonvested awards, December 31 | 78,930 | 96,977 | 59,639 | |||||||||||||||||||||||||||||||||
(a) | In 2014, 34,766 and 20,751 performance contingent cash awards granted in 2012 and 2011 vested, resulting in cash payouts valued at $1.9 million and $1.1 million, respectively. In 2012, 21,605 performance contingent cash awards granted in 2010 vested, resulting in cash payouts valued at $0.9 million. | |||||||||||||||||||||||||||||||||||
(c) Deferred Compensation Plan - Alliant Energy maintains a DCP under which key employees may defer up to 100% of base salary and performance-based compensation and directors may elect to defer all or part of their retainer and committee fees. Key employees who have made the maximum allowed contribution to the Alliant Energy 401(k) Savings Plan may receive an additional credit to the DCP. Key employees and directors may elect to have their deferrals credited to a company stock account, an interest account or equity accounts based on certain benchmark funds. | ||||||||||||||||||||||||||||||||||||
Company Stock Accounts - The DCP does not permit diversification of deferrals credited to the company stock account and all distributions from participants’ company stock accounts are made in the form of shares of Alliant Energy common stock. The deferred compensation obligations for participants’ company stock accounts are recorded in “Additional paid-in capital” and the shares of Alliant Energy common stock held in a rabbi trust to satisfy this obligation are recorded in “Shares in deferred compensation trust” on Alliant Energy’s balance sheets. At December 31, the carrying value of the deferred compensation obligation for the company stock accounts and the shares in the deferred compensation trust based on the historical value of the shares of Alliant Energy common stock contributed to the rabbi trust, and the fair market value of the shares held in the rabbi trust were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Carrying value | $8.90 | $8.00 | ||||||||||||||||||||||||||||||||||
Fair market value | 15.9 | 11.7 | ||||||||||||||||||||||||||||||||||
Interest and Equity Accounts - Distributions from participants’ interest and equity accounts are in the form of cash payments. The deferred compensation obligations for participants’ interest and equity accounts are recorded in “Pension and other benefit obligations” on Alliant Energy’s and IPL’s balance sheets. At December 31, the carrying value of deferred compensation obligations for participants’ interest and equity accounts, which approximates fair market value, was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Carrying value | $17.80 | $15.90 | $5.20 | $5.20 | ||||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Benefit Plans | BENEFIT PLANS | |||||||||||||||||||||||||||||||||||
(a) Pension and Other Postretirement Benefits Plans - Retirement benefits are provided to substantially all employees through various qualified and non-qualified non-contributory defined benefit pension plans, and/or through defined contribution plans (including 401(k) savings plans). Qualified and non-qualified non-contributory defined benefit pension plans are currently closed to new hires. Benefits of the non-contributory defined benefit pension plans are based on the plan participant’s years of service, age and compensation. Benefits of the defined contribution plans are based on the plan participant’s years of service, age, compensation and contributions. Certain defined benefit postretirement health care and life benefits are provided to eligible retirees. In general, the retiree health care plans consist of fixed benefit subsidy structures and the retiree life insurance plans are non-contributory. | ||||||||||||||||||||||||||||||||||||
Assumptions - The assumptions for defined benefit pension and OPEB plans at the measurement date of December 31 were as follows: | ||||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.18% | 4.97% | 4.11% | 3.97% | 4.59% | 3.82% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 4.97% | 4.11% | 4.86% | 4.59% | 3.82% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.40% | 7.40% | 7.50% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | N/A | 3.50% | 3.50% | |||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.94% | 4.55% | 3.76% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.55% | 3.76% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.60% | 7.50% | 7.40% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.96% | 4.56% | 3.81% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.56% | 3.81% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.30% | 7.20% | 7.00% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets - The expected rate of return on plan assets is determined by analysis of projected asset class returns based on the target asset class allocations. A forward-looking building blocks approach is used, and historical returns, survey information and capital market information are reviewed to support the expected rate of return on plan assets assumption. Refer to “Investment Policy and Strategy for Plan Assets” below for additional information related to investment policy, and strategy and mix of assets for the pension and OPEB plans. | ||||||||||||||||||||||||||||||||||||
Life Expectancy - The life expectancy assumption is used in determining the benefit obligation and net periodic benefit cost for defined benefit pension and OPEB plans. This assumption was updated for the measurement date as of December 31, 2014 to utilize new mortality tables that were released in 2014 by the Society of Actuaries. The updated life expectancy assumption resulted in a significant increase to the associated obligations of the pension and OPEB plans. | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Costs (Credits) - The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans are included in the tables below (in millions). In the “IPL” and “WPL” tables below, the defined benefit pension plans costs represent those respective costs for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In the “IPL” and “WPL” tables below, the OPEB plans costs (credits) represent costs (credits) for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. | ||||||||||||||||||||||||||||||||||||
Alliant Energy | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $13.10 | $15.70 | $13.50 | $5.20 | $6.30 | $6.90 | ||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 51.6 | 9.5 | 8.5 | 10.2 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (74.9 | ) | (74.0 | ) | (68.8 | ) | (8.3 | ) | (8.1 | ) | (7.5 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.2 | 0.3 | (11.9 | ) | (11.9 | ) | (12.0 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 19.5 | 36.2 | 33.3 | 2.4 | 4.9 | 6.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 9 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
Settlement losses (e) | — | — | 5.4 | — | — | — | ||||||||||||||||||||||||||||||
$11.80 | $36.10 | $35.40 | ($3.1 | ) | ($0.3 | ) | $3.90 | |||||||||||||||||||||||||||||
IPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $7.20 | $8.60 | $7.50 | $2.40 | $2.90 | $3.00 | ||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 24.1 | 3.9 | 3.6 | 4.4 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (35.7 | ) | (35.2 | ) | (32.6 | ) | (5.8 | ) | (5.6 | ) | (5.1 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.1 | 0.2 | (6.3 | ) | (6.3 | ) | (6.3 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 8 | 15.2 | 14.1 | 1.1 | 2.7 | 3.5 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 2.6 | — | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $14.20 | $13.30 | ($4.7 | ) | ($2.7 | ) | ($0.5 | ) | ||||||||||||||||||||||||||||
WPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $4.90 | $5.90 | $5.20 | $2.00 | $2.50 | $2.70 | ||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 21.6 | 3.8 | 3.4 | 4.1 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (32.4 | ) | (31.9 | ) | (29.6 | ) | (1.3 | ) | (1.3 | ) | (1.3 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | 0.3 | 0.3 | 0.4 | (3.9 | ) | (3.9 | ) | (3.9 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 9.2 | 17.1 | 15.7 | 1.3 | 1.9 | 2.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 0.6 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $12.70 | $13.40 | $1.90 | $2.60 | $3.90 | |||||||||||||||||||||||||||||||
(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 Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits. | |||||||||||||||||||||||||||||||||||
(d) | In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement. | |||||||||||||||||||||||||||||||||||
(e) | Settlement losses related to payments made to retired executives of Alliant Energy. | |||||||||||||||||||||||||||||||||||
Corporate Services provides services to IPL and WPL, and as a result, IPL and WPL are allocated pension and OPEB costs (credits) associated with Corporate Services employees. Such costs (credits) are allocated to IPL and WPL based on total productive labor costs. The following table includes the allocated qualified and non-qualified pension and OPEB costs (credits) associated with Corporate Services employees providing services to IPL and WPL (in millions): | ||||||||||||||||||||||||||||||||||||
Pension Benefits Costs (a) | OPEB Costs (Credits) | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
IPL | $1.40 | $4.80 | $4.90 | ($0.3 | ) | ($0.3 | ) | $0.10 | ||||||||||||||||||||||||||||
WPL | 1.1 | 3.6 | 3.6 | (0.2 | ) | (0.2 | ) | 0.1 | ||||||||||||||||||||||||||||
(a) | Refer to IPL’s and WPL’s “Net Periodic Benefit Costs (Credits)” tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013. | |||||||||||||||||||||||||||||||||||
The estimated amortization from “Regulatory assets” and “Regulatory liabilities” on the balance sheets and AOCL on Alliant Energy’s balance sheet into net periodic benefit cost in 2015 is as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined Benefit | Defined Benefit | Defined Benefit | ||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||
Actuarial loss | $35.40 | $4.90 | $15.30 | $2.30 | $16.80 | $2.30 | ||||||||||||||||||||||||||||||
Prior service cost (credit) | (0.3 | ) | (11.3 | ) | (0.1 | ) | (6.1 | ) | 0.2 | (3.5 | ) | |||||||||||||||||||||||||
$35.10 | ($6.4 | ) | $15.20 | ($3.8 | ) | $17.00 | ($1.2 | ) | ||||||||||||||||||||||||||||
Net periodic benefit costs are primarily included in “Utility - Other operation and maintenance” in the income statements. | ||||||||||||||||||||||||||||||||||||
Benefit Plan Assets and Obligations - A reconciliation of the funded status of Alliant Energy’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on Alliant Energy’s balance sheets at December 31 was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $1,113.40 | $1,207.50 | $208.70 | $223.20 | ||||||||||||||||||||||||||||||||
Service cost | 13.1 | 15.7 | 5.2 | 6.3 | ||||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 9.5 | 8.5 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 2.8 | 2.6 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 9 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 195.8 | (94.1 | ) | 22.3 | (13.2 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (74.9 | ) | (73.7 | ) | (17.4 | ) | (18.7 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 1,301.50 | 1,113.40 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 1,022.90 | 965.6 | 124.9 | 123.1 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 66.4 | 128.5 | 5.6 | 14.4 | ||||||||||||||||||||||||||||||||
Employer contributions | 3.7 | 2.5 | 5.7 | 3.5 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 2.8 | 2.6 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (74.9 | ) | (73.7 | ) | (17.4 | ) | (18.7 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 1,018.10 | 1,022.90 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($283.4 | ) | ($90.5 | ) | ($109.5 | ) | ($83.8 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $6.10 | $14.50 | ||||||||||||||||||||||||||||||||
Other current liabilities | (2.5 | ) | (2.4 | ) | (5.6 | ) | (4.8 | ) | ||||||||||||||||||||||||||||
Pension and other benefit obligations | (280.9 | ) | (88.1 | ) | (110.0 | ) | (93.5 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($283.4 | ) | ($90.5 | ) | ($109.5 | ) | ($83.8 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $533.40 | $348.60 | $60.70 | $38.10 | ||||||||||||||||||||||||||||||||
Prior service credit | (7.4 | ) | (7.4 | ) | (16.7 | ) | (28.6 | ) | ||||||||||||||||||||||||||||
$526.00 | $341.20 | $44.00 | $9.50 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 and Alliant Energy’s common equity statements for amounts recognized in “Regulatory assets” and “AOCL,” respectively, on Alliant Energy’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $5.1 million, respectively, of regulatory liabilities were recognized related to Alliant Energy’s OPEB plans. | |||||||||||||||||||||||||||||||||||
In the “IPL” and “WPL” tables below, the defined benefit pension plans amounts represent those respective amounts for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In the “IPL” and “WPL” tables below, the OPEB plans amounts represent amounts for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. | ||||||||||||||||||||||||||||||||||||
A reconciliation of the funded status of IPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on IPL’s balance sheets at December 31 was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $514.00 | $559.20 | $87.80 | $96.00 | ||||||||||||||||||||||||||||||||
Service cost | 7.2 | 8.6 | 2.4 | 2.9 | ||||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 3.9 | 3.6 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 2.6 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 91.4 | (44.3 | ) | 8.6 | (7.0 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (34.6 | ) | (35.0 | ) | (7.2 | ) | (8.6 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 603.1 | 514 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 485.9 | 458.8 | 81.2 | 78.8 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 32.1 | 61.2 | 3.6 | 10 | ||||||||||||||||||||||||||||||||
Employer contributions | 1.3 | 0.9 | 0.2 | 0.1 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (34.6 | ) | (35.0 | ) | (7.2 | ) | (8.6 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 484.7 | 485.9 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($118.4 | ) | ($28.1 | ) | ($17.7 | ) | ($6.6 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $1.20 | $8.80 | ||||||||||||||||||||||||||||||||
Other current liabilities | (0.8 | ) | (0.8 | ) | — | — | ||||||||||||||||||||||||||||||
Pension and other benefit obligations | (117.6 | ) | (27.3 | ) | (18.9 | ) | (15.4 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($118.4 | ) | ($28.1 | ) | ($17.7 | ) | ($6.6 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $233.10 | $146.10 | $27.90 | $18.20 | ||||||||||||||||||||||||||||||||
Prior service credit | (2.6 | ) | (2.6 | ) | (8.7 | ) | (15.0 | ) | ||||||||||||||||||||||||||||
$230.50 | $143.50 | $19.20 | $3.20 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 for amounts recognized in “Regulatory assets” on IPL’s balance sheets. At December 31, 2014 and 2013, $0 and $1.0 million, respectively, of regulatory liabilities were recognized related to IPL’s OPEB plans. | |||||||||||||||||||||||||||||||||||
A reconciliation of the funded status of WPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on WPL’s balance sheets at December 31 was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $460.80 | $506.70 | $85.60 | $89.10 | ||||||||||||||||||||||||||||||||
Service cost | 4.9 | 5.9 | 2 | 2.5 | ||||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 3.8 | 3.4 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 1.3 | 1.2 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 0.6 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 86.7 | (41.1 | ) | 9.2 | (3.0 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (27.4 | ) | (32.0 | ) | (7.9 | ) | (7.6 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 547.6 | 460.8 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 438.8 | 415.4 | 21.7 | 22.3 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 28.6 | 55.2 | 1.2 | 2.5 | ||||||||||||||||||||||||||||||||
Employer contributions | 0.3 | 0.2 | 5.5 | 3.3 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 1.3 | 1.2 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (27.4 | ) | (32.0 | ) | (7.9 | ) | (7.6 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 440.3 | 438.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($107.3 | ) | ($22.0 | ) | ($72.2 | ) | ($63.9 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $4.90 | $5.80 | ||||||||||||||||||||||||||||||||
Other current liabilities | (0.1 | ) | (0.2 | ) | (5.5 | ) | (4.8 | ) | ||||||||||||||||||||||||||||
Pension and other benefit obligations | (107.2 | ) | (21.8 | ) | (71.6 | ) | (64.9 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($107.3 | ) | ($22.0 | ) | ($72.2 | ) | ($63.9 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $233.50 | $152.20 | $26.30 | $18.30 | ||||||||||||||||||||||||||||||||
Prior service credit | (1.0 | ) | (0.7 | ) | (5.6 | ) | (9.5 | ) | ||||||||||||||||||||||||||||
$232.50 | $151.50 | $20.70 | $8.80 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 for amounts recognized in “Regulatory assets” on WPL’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $1.1 million, respectively, of regulatory liabilities were recognized related to WPL’s OPEB plans. | |||||||||||||||||||||||||||||||||||
Included in the following tables are accumulated benefit obligations, aggregate amounts applicable to defined benefit pension and OPEB plans with accumulated benefit obligations in excess of plan assets, as well as defined benefit pension plans with projected benefit obligations in excess of plan assets as of the December 31 measurement date (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $1,255.00 | $1,071.70 | $231.10 | $208.70 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 1,255.00 | 406.5 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 347.6 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 1,301.50 | 1,113.40 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 1,022.90 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $575.50 | $491.50 | $96.40 | $87.80 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 575.5 | 159.3 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 144.6 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 603.1 | 514 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 485.9 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $532.50 | $446.70 | $94.00 | $85.60 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 532.5 | 115.6 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 106.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 547.6 | 460.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 438.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
In addition to the amounts recognized in “Regulatory assets and regulatory liabilities” in the above tables for IPL and WPL, “Regulatory assets” and “Regulatory liabilities” were recognized for amounts associated with Corporate Services employees participating in other Alliant Energy sponsored benefit plans that were allocated to IPL and WPL at December 31 as follows (in millions): | ||||||||||||||||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Regulatory assets | $38.20 | $26.50 | $28.00 | $19.80 | ||||||||||||||||||||||||||||||||
Regulatory liabilities | — | 1.7 | — | 1.3 | ||||||||||||||||||||||||||||||||
Estimated Future Employer Contributions and Benefit Payments - Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2015 is as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined benefit pension plans (a) | $2.50 | $0.80 | $0.20 | |||||||||||||||||||||||||||||||||
OPEB plans | 5.7 | — | 5.5 | |||||||||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
Expected benefit payments for the qualified and non-qualified defined benefit plans, which reflect expected future service, as appropriate, are as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $66.70 | $71.50 | $69.30 | $72.90 | $73.60 | $396.10 | ||||||||||||||||||||||||||||||
OPEB | 17.6 | 16.8 | 16.7 | 16.9 | 17 | 84 | ||||||||||||||||||||||||||||||
$84.30 | $88.30 | $86.00 | $89.80 | $90.60 | $480.10 | |||||||||||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $30.40 | $31.60 | $33.10 | $34.90 | $34.70 | $189.90 | ||||||||||||||||||||||||||||||
OPEB | 7.4 | 7.2 | 7.2 | 7.2 | 7.2 | 35.3 | ||||||||||||||||||||||||||||||
$37.80 | $38.80 | $40.30 | $42.10 | $41.90 | $225.20 | |||||||||||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $28.40 | $28.00 | $28.80 | $30.10 | $30.50 | $163.40 | ||||||||||||||||||||||||||||||
OPEB | 7.7 | 7 | 7 | 7 | 7.1 | 34.2 | ||||||||||||||||||||||||||||||
$36.10 | $35.00 | $35.80 | $37.10 | $37.60 | $197.60 | |||||||||||||||||||||||||||||||
Investment Policy and Strategy for Plan Assets - Investment policies and strategies employed with respect to assets of defined benefit pension and OPEB plans are to combine both preservation of principal and prudent and reasonable risk-taking to protect the integrity of plan assets, in order to meet the obligations to plan participants while minimizing benefit costs over the long term. It is recognized that risk and volatility are present with all types of investments. However, risk is mitigated at the total fund level through diversification by asset class including U.S. and international equity and fixed income exposure, global asset and risk parity strategies, the number of individual investments, and sector and industry limits. Global asset and risk parity strategies include investments in global equity, global debt, commodities and currencies. | ||||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans Assets - For assets of defined benefit pension plans, the mix among asset classes is controlled by asset allocation targets. Historical performance results and future expectations suggest that equity securities will provide higher total investment returns than debt securities over a long-term investment horizon. Consistent with the goals of meeting obligations to plan participants and minimizing benefit costs over the long-term, the defined benefit pension plans have a long-term investment posture more heavily weighted towards equity holdings. The asset allocation is monitored regularly and appropriate steps are taken as needed to rebalance the assets within the prescribed ranges. An overlay management service is also used to help maintain target allocations and meet liquidity needs. The overlay manager is authorized to use derivative financial instruments to facilitate this service. For separately managed accounts, prohibited investment vehicles include, but may not be limited to, direct ownership of real estate, margin trading, oil and gas limited partnerships and securities of the managers’ firms or affiliate firms. | ||||||||||||||||||||||||||||||||||||
At December 31, 2014, the current target ranges and actual allocations for the defined benefit pension plan assets were as follows: | ||||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 5% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 8 | % | - | 18% | 13% | |||||||||||||||||||||||||||||||
U.S. large cap value | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. large cap growth | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. small cap value | 0 | % | - | 4% | 1% | |||||||||||||||||||||||||||||||
U.S. small cap growth | 0 | % | - | 4% | 2% | |||||||||||||||||||||||||||||||
International - developed markets | 7 | % | - | 19% | 10% | |||||||||||||||||||||||||||||||
International - emerging markets | 0 | % | - | 10% | 5% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Risk parity allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Fixed income securities | 20 | % | - | 40% | 30% | |||||||||||||||||||||||||||||||
Other Postretirement Benefits Plans Assets - OPEB plans assets are comprised of specific assets within certain defined benefit pension plans (401(h) assets) as well as assets held in VEBA trusts. The investment policy and strategy of the 401(h) assets mirrors those of the defined benefit pension plans, which are discussed above. For VEBA trusts with assets greater than $5 million, the mix among asset classes is controlled by allocation targets. The asset allocation is monitored regularly and appropriate steps are taken as needed to rebalance the assets within the prescribed ranges. Mutual funds are used to achieve the desired diversification. At December 31, 2014, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million were as follows: | ||||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 2% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
Domestic | 25 | % | - | 45% | 36% | |||||||||||||||||||||||||||||||
International | 10 | % | - | 20% | 14% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 20 | % | - | 40% | 29% | |||||||||||||||||||||||||||||||
Fixed income securities | 10 | % | - | 30% | 19% | |||||||||||||||||||||||||||||||
Fair Value Measurements - The following tables report a framework for measuring fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy and examples of each are as follows: | ||||||||||||||||||||||||||||||||||||
Level 1 - Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the reporting date. Investments in securities held in registered investment companies and directly held equity securities are valued at the closing price reported in the active market in which the securities are traded. | ||||||||||||||||||||||||||||||||||||
Level 2 - Pricing inputs are quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Investments in common/collective trusts are valued at the net asset value of shares held by the plans, which is based on the fair market value of the underlying investments in the common/collective trusts. Investments in corporate bonds and government and agency obligations are valued at the closing price reported in the active market for similar assets in which the individual securities are traded or based on yields currently available on comparable securities of issuers with similar credit ratings. | ||||||||||||||||||||||||||||||||||||
Level 3 - Pricing inputs are unobservable inputs for assets or liabilities for which little or no market data exist and require significant management judgment or estimation. | ||||||||||||||||||||||||||||||||||||
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. | ||||||||||||||||||||||||||||||||||||
The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while Alliant Energy, IPL and WPL believe their valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. | ||||||||||||||||||||||||||||||||||||
At December 31, the fair values of Alliant Energy’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $49.30 | $— | $49.30 | $— | $32.60 | $— | $32.60 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 137.2 | 137.2 | — | — | 134.1 | 134.1 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 72.2 | — | 72.2 | — | 77 | — | 77 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 73.2 | — | 73.2 | — | 77.4 | — | 77.4 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 15.2 | — | 15.2 | — | 20.7 | — | 20.7 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 15.9 | 15.9 | — | — | 20.8 | 20.8 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 102.9 | 52.1 | 50.8 | — | 136.3 | 68 | 68.3 | — | ||||||||||||||||||||||||||||
International - emerging markets | 47.2 | 47.2 | — | — | 48.4 | 48.4 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 99.9 | 57.2 | 42.7 | — | 99.1 | 56.7 | 42.4 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 102.5 | — | 102.5 | — | 96.1 | — | 96.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | 0.1 | — | 0.1 | — | 29.2 | — | 29.2 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 49.1 | — | 49.1 | — | ||||||||||||||||||||||||||||
Fixed income funds | 302.7 | 0.2 | 302.5 | — | 202.2 | 0.2 | 202 | — | ||||||||||||||||||||||||||||
1,018.30 | $309.80 | $708.50 | $— | 1,023.00 | $328.20 | $694.80 | $— | |||||||||||||||||||||||||||||
Accrued investment income | 0.1 | 0.7 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.3 | ) | (0.8 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $1,018.10 | $1,022.90 | ||||||||||||||||||||||||||||||||||
At December 31, the fair values of IPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $23.50 | $— | $23.50 | $— | $15.40 | $— | $15.40 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 65.3 | 65.3 | — | — | 63.7 | 63.7 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 34.4 | — | 34.4 | — | 36.6 | — | 36.6 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 34.9 | — | 34.9 | — | 36.8 | — | 36.8 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 7.2 | — | 7.2 | — | 9.8 | — | 9.8 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 7.6 | 7.6 | — | — | 9.9 | 9.9 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 49 | 24.8 | 24.2 | — | 64.8 | 32.3 | 32.5 | — | ||||||||||||||||||||||||||||
International - emerging markets | 22.5 | 22.5 | — | — | 23 | 23 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 47.5 | 27.2 | 20.3 | — | 47.1 | 27 | 20.1 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 48.8 | — | 48.8 | — | 45.7 | — | 45.7 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 13.9 | — | 13.9 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 23.3 | — | 23.3 | — | ||||||||||||||||||||||||||||
Fixed income funds | 144.1 | 0.1 | 144 | — | 96.1 | 0.1 | 96 | — | ||||||||||||||||||||||||||||
484.8 | $147.50 | $337.30 | $— | 486.1 | $156.00 | $330.10 | $— | |||||||||||||||||||||||||||||
Accrued investment income | 0.1 | 0.2 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.2 | ) | (0.4 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $484.70 | $485.90 | ||||||||||||||||||||||||||||||||||
At December 31, the fair values of WPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $21.30 | $— | $21.30 | $— | $14.00 | $— | $14.00 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 59.3 | 59.3 | — | — | 57.5 | 57.5 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 31.3 | — | 31.3 | — | 33.1 | — | 33.1 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 31.7 | — | 31.7 | — | 33.2 | — | 33.2 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 6.6 | — | 6.6 | — | 8.9 | — | 8.9 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 6.9 | 6.9 | — | — | 8.9 | 8.9 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 44.5 | 22.5 | 22 | — | 58.5 | 29.2 | 29.3 | — | ||||||||||||||||||||||||||||
International - emerging markets | 20.4 | 20.4 | — | — | 20.8 | 20.8 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 43.2 | 24.8 | 18.4 | — | 42.5 | 24.3 | 18.2 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 44.3 | — | 44.3 | — | 41.2 | — | 41.2 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 12.5 | — | 12.5 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 21 | — | 21 | — | ||||||||||||||||||||||||||||
Fixed income funds | 130.9 | 0.1 | 130.8 | — | 86.8 | 0.1 | 86.7 | — | ||||||||||||||||||||||||||||
440.4 | $134.00 | $306.40 | $— | 438.9 | $140.80 | $298.10 | $— | |||||||||||||||||||||||||||||
Accrued investment income | — | 0.2 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $440.30 | $438.80 | ||||||||||||||||||||||||||||||||||
At December 31, the fair values of Alliant Energy’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $3.70 | $— | $3.70 | $— | $3.90 | $— | $3.90 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 35.8 | 35.8 | — | — | 36.8 | 36.8 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 2.9 | 2.9 | — | — | 2.9 | 2.9 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 1.5 | — | 1.5 | — | 1.7 | — | 1.7 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 1.6 | — | 1.6 | — | 1.7 | — | 1.7 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.3 | — | 0.3 | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.4 | 0.4 | — | — | 0.5 | 0.5 | — | — | ||||||||||||||||||||||||||||
International - blend | 14.2 | 14.2 | — | — | 15.4 | 15.4 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 2.2 | 1.1 | 1.1 | — | 3 | 1.5 | 1.5 | — | ||||||||||||||||||||||||||||
International - emerging markets | 1 | 1 | — | — | 1.1 | 1.1 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 30.3 | 29.4 | 0.9 | — | 30.4 | 29.5 | 0.9 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 2.2 | — | 2.2 | — | 2.1 | — | 2.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.6 | — | 0.6 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 1.1 | — | 1.1 | — | ||||||||||||||||||||||||||||
Fixed income funds | 25.5 | 19 | 6.5 | — | 23.2 | 18.8 | 4.4 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $121.60 | $103.80 | $17.80 | $— | $124.90 | $106.50 | $18.40 | $— | ||||||||||||||||||||||||||||
At December 31, the fair values of IPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $1.40 | $— | $1.40 | $— | $1.50 | $— | $1.50 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 27.2 | 27.2 | — | — | 27.8 | 27.8 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 0.5 | 0.5 | — | — | 0.7 | 0.7 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 0.3 | — | 0.3 | — | 0.4 | — | 0.4 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 0.3 | — | 0.3 | — | 0.4 | — | 0.4 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.1 | — | 0.1 | — | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.1 | 0.1 | — | — | 0.1 | 0.1 | — | — | ||||||||||||||||||||||||||||
International - blend | 10.7 | 10.7 | — | — | 11.6 | 11.6 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 0.4 | 0.2 | 0.2 | — | 0.8 | 0.4 | 0.4 | — | ||||||||||||||||||||||||||||
International - emerging markets | 0.2 | 0.2 | — | — | 0.3 | 0.3 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 21.6 | 21.5 | 0.1 | — | 21.6 | 21.4 | 0.2 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 0.4 | — | 0.4 | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 0.3 | — | 0.3 | — | ||||||||||||||||||||||||||||
Fixed income funds | 15.5 | 14.3 | 1.2 | — | 15 | 13.9 | 1.1 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $78.70 | $74.70 | $4.00 | $— | $81.20 | $76.20 | $5.00 | $— | ||||||||||||||||||||||||||||
At December 31, the fair values of WPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $1.40 | $— | $1.40 | $— | $1.40 | $— | $1.40 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 3.6 | 3.6 | — | — | 3.6 | 3.6 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 1.6 | 1.6 | — | — | 1.5 | 1.5 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 0.8 | — | 0.8 | — | 0.8 | — | 0.8 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 0.8 | — | 0.8 | — | 0.8 | — | 0.8 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.2 | — | 0.2 | — | 0.2 | — | 0.2 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.2 | 0.2 | — | — | 0.2 | 0.2 | — | — | ||||||||||||||||||||||||||||
International - blend | 1.4 | 1.4 | — | — | 1.5 | 1.5 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 1.2 | 0.6 | 0.6 | — | 1.5 | 0.7 | 0.8 | — | ||||||||||||||||||||||||||||
International - emerging markets | 0.5 | 0.5 | — | — | 0.5 | 0.5 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 3.8 | 3.3 | 0.5 | — | 3.8 | 3.3 | 0.5 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 1.1 | — | 1.1 | — | 1.1 | — | 1.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.3 | — | 0.3 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
Fixed income funds | 5.2 | 1.8 | 3.4 | — | 4 | 1.8 | 2.2 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $21.80 | $13.00 | $8.80 | $— | $21.70 | $13.10 | $8.60 | $— | ||||||||||||||||||||||||||||
For the various defined benefit pension and OPEB plans, Alliant Energy common stock represented less than 1% of assets directly held in the plans at December 31, 2014 and 2013. | ||||||||||||||||||||||||||||||||||||
Cash Balance Plan - Alliant Energy’s defined benefit pension plans include the Cash Balance Plan, which provides benefits for certain non-bargaining unit employees. The Cash Balance Plan has been closed to new hires since 2005. Effective 2008, Alliant Energy amended the Cash Balance Plan by discontinuing additional contributions into employees’ Cash Balance Plan accounts and increased its level of contributions to its 401(k) Savings Plan. In 2009, Alliant Energy amended the Cash Balance Plan by changing participants’ future interest credit formula to use the annual change in the consumer price index. This amendment provides participants an interest crediting rate that is 3% more than the annual change in the consumer price index. | ||||||||||||||||||||||||||||||||||||
In 2008, a class-action lawsuit was filed against the Cash Balance Plan. The complaint alleged that certain Cash Balance Plan participants who received distributions prior to their normal retirement age did not receive the full benefit to which they were entitled in violation of the Employee Retirement Income Security Act of 1974 because the Cash Balance Plan applied an improper interest crediting rate to project the cash balance account to their normal retirement age. These Cash Balance Plan participants were limited to individuals who, prior to normal retirement age, received a lump-sum distribution or an annuity payment. | ||||||||||||||||||||||||||||||||||||
The Cash Balance Plan entered into a stipulation agreement with the plaintiffs, which was filed with the Court in 2013 settling all open matters in the case. In January 2014, the Court entered final judgment in the total amount of $9.0 million. Plaintiffs’ attorney’s fees and costs were paid from the final damages. Due to the stipulation agreement filed with the Court in 2013, Alliant Energy, IPL and WPL recognized the additional benefits to be paid to the plaintiffs in their income statements in 2013. As a result of the January 2014 final Court order requiring plaintiffs’ attorney’s fees and costs to be paid out of the final judgment, Alliant Energy, IPL and WPL reversed the reserve previously recorded related to payment of plaintiffs’ attorney’s fees and costs. As a result of recognizing the additional benefits of $9.0 million to be paid to the plaintiffs and reversing the previously recorded reserve of $6.7 million for plaintiffs’ attorney’s fees and costs, there was not a net material impact on Alliant Energy’s, IPL’s or WPL’s results of operations for 2013. | ||||||||||||||||||||||||||||||||||||
401(k) Savings Plans - A significant number of employees participate in defined contribution retirement plans (401(k) savings plans). Alliant Energy common stock represented 12.6% and 11.3% of total assets held in 401(k) savings plans at December 31, 2014 and 2013, respectively. Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions, were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL (a) | WPL (a) | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
401(k) costs | $22.50 | $19.20 | $18.50 | $11.10 | $9.90 | $9.60 | $10.50 | $8.50 | $8.10 | |||||||||||||||||||||||||||
(a) | IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees. | |||||||||||||||||||||||||||||||||||
(b) Equity-based Compensation Plans - In 2010, Alliant Energy’s shareowners approved the OIP, which permits the grant of stock options, restricted stock, restricted stock units, performance shares, performance units, and other stock-based awards and performance-based cash awards to key employees. At December 31, 2014, performance shares and restricted stock were outstanding and 3.9 million shares of Alliant Energy’s common stock remained available for grants under the OIP. Alliant Energy satisfies payouts related to equity awards under the OIP through the issuance of new shares of its common stock. Alliant Energy also has the DLIP, which permits the grant of cash-based long-term performance-based awards, including performance units and restricted cash awards to certain key employees. At December 31, 2014, performance units and performance contingent cash awards were outstanding under the DLIP. There is no limit to the number of grants that can be made under the DLIP and Alliant Energy satisfies all payouts under the DLIP through cash payments. | ||||||||||||||||||||||||||||||||||||
A summary of compensation expense (including amounts allocated to IPL and WPL) and the related income tax benefits recognized for share-based compensation awards was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Compensation expense | $15.30 | $12.00 | $6.90 | $8.30 | $6.20 | $3.60 | $6.40 | $5.20 | $3.00 | |||||||||||||||||||||||||||
Income tax benefits | 6.2 | 4.8 | 2.8 | 3.4 | 2.5 | 1.5 | 2.6 | 2.1 | 1.2 | |||||||||||||||||||||||||||
As of December 31, 2014, total unrecognized compensation cost related to share-based compensation awards was $6.5 million, which is expected to be recognized over a weighted average period of between 1 and 2 years. Share-based compensation expense is recognized on a straight-line basis over the requisite service periods and is primarily recorded in “Utility - Other operation and maintenance” in the income statements. | ||||||||||||||||||||||||||||||||||||
Performance Shares and Units - Payouts of performance shares and units to key employees are contingent upon achievement over 3-year periods of specified performance criteria, which currently include metrics of total shareowner return relative to an investor-owned utility peer group. Payouts of nonvested performance shares and units are based on achievement of the performance criteria and are prorated at retirement, death or disability based on time worked during the first year of the performance period and prorated at involuntary termination without cause based on time worked during the entire performance period. Upon achievement of the performance criteria, payouts of these performance shares and units to participants who terminate employment after the first year of the performance period due to retirement, death or disability are not prorated. Participants’ nonvested performance shares and units are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause. Nonvested performance shares and units do not have non-forfeitable rights to dividends when dividends are paid to common shareowners. Alliant Energy assumes it will make future payouts of its performance shares and units in cash; therefore, performance shares and units are accounted for as liability awards. | ||||||||||||||||||||||||||||||||||||
Performance Shares - Performance shares can be paid out in shares of Alliant Energy’s common stock, cash or a combination of cash and stock and are adjusted by a performance multiplier, which ranges from zero to 200% based on the performance criteria. A summary of the performance shares activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares (a) | Shares (a) | Shares (a) | ||||||||||||||||||||||||||||||||||
Nonvested shares, January 1 | 139,940 | 145,277 | 236,979 | |||||||||||||||||||||||||||||||||
Granted | 51,221 | 49,093 | 45,612 | |||||||||||||||||||||||||||||||||
Vested | (45,235 | ) | (54,430 | ) | (111,980 | ) | ||||||||||||||||||||||||||||||
Forfeited (b) | (1,502 | ) | — | (25,334 | ) | |||||||||||||||||||||||||||||||
Nonvested shares, December 31 | 144,424 | 139,940 | 145,277 | |||||||||||||||||||||||||||||||||
(a) | Share amounts represent the target number of performance shares. Each performance share’s value is based on the closing market price of one share of Alliant Energy’s common stock at the end of the performance period. The actual number of shares that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of shares. | |||||||||||||||||||||||||||||||||||
(b) | Forfeitures were primarily caused by retirements and voluntary terminations of participants. | |||||||||||||||||||||||||||||||||||
Certain performance shares vested, resulting in payouts (a combination of cash and common stock) as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
2011 Grant | 2010 Grant | 2009 Grant | ||||||||||||||||||||||||||||||||||
Performance shares vested | 45,235 | 54,430 | 111,980 | |||||||||||||||||||||||||||||||||
Percentage of target number of performance shares | 147.5 | % | 197.5 | % | 162.5 | % | ||||||||||||||||||||||||||||||
Aggregate payout value (in millions) | $3.40 | $4.80 | $8.00 | |||||||||||||||||||||||||||||||||
Payout - cash (in millions) | $2.90 | $4.40 | $7.80 | |||||||||||||||||||||||||||||||||
Payout - common stock shares issued | 4,810 | 4,177 | 6,399 | |||||||||||||||||||||||||||||||||
Performance Units - Performance units must be paid out in cash and are adjusted by a performance multiplier, which ranges from zero to 200% based on the performance criteria. A summary of the performance unit activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Units (a) | Units (a) | Units (a) | ||||||||||||||||||||||||||||||||||
Nonvested units, January 1 | 65,912 | 64,969 | 42,996 | |||||||||||||||||||||||||||||||||
Granted | 20,422 | 22,201 | 24,686 | |||||||||||||||||||||||||||||||||
Vested | (20,751 | ) | (19,760 | ) | — | |||||||||||||||||||||||||||||||
Forfeited | (1,918 | ) | (1,498 | ) | (2,713 | ) | ||||||||||||||||||||||||||||||
Nonvested units, December 31 | 63,665 | 65,912 | 64,969 | |||||||||||||||||||||||||||||||||
(a) | Unit amounts represent the target number of performance units. Each performance unit’s value is based on the average price of one share of Alliant Energy’s common stock on the grant date of the award. The actual payout for performance units is dependent upon actual performance and may range from zero to 200% of the target number of units. | |||||||||||||||||||||||||||||||||||
Certain performance units vested, resulting in cash payouts as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
2011 Grant | 2010 Grant | |||||||||||||||||||||||||||||||||||
Performance units vested | 20,751 | 19,760 | ||||||||||||||||||||||||||||||||||
Percentage of target number of performance units | 147.5 | % | 197.5 | % | ||||||||||||||||||||||||||||||||
Payout value (in millions) | $1.20 | $1.30 | ||||||||||||||||||||||||||||||||||
Fair Value of Awards - Information related to fair values of nonvested performance shares and units at December 31, 2014, by year of grant, were as follows: | ||||||||||||||||||||||||||||||||||||
Performance Shares | Performance Units | |||||||||||||||||||||||||||||||||||
2014 Grant | 2013 Grant | 2012 Grant | 2014 Grant | 2013 Grant | 2012 Grant | |||||||||||||||||||||||||||||||
Nonvested awards | 49,719 | 49,093 | 45,612 | 19,440 | 21,380 | 22,845 | ||||||||||||||||||||||||||||||
Alliant Energy common stock closing price on December 31, 2014 | $66.42 | $66.42 | $66.42 | |||||||||||||||||||||||||||||||||
Alliant Energy common stock closing price on grant date | $53.77 | $47.58 | $43.05 | |||||||||||||||||||||||||||||||||
Estimated payout percentage based on performance criteria | 125 | % | 160 | % | 168 | % | 125 | % | 160 | % | 168 | % | ||||||||||||||||||||||||
Fair values of each nonvested award | $83.03 | $106.27 | $111.25 | $67.21 | $76.13 | $72.11 | ||||||||||||||||||||||||||||||
At December 31, 2014, fair values of nonvested performance shares and units were calculated using a Monte Carlo simulation to determine the anticipated total shareowner returns of Alliant Energy and its investor-owned utility peer group. Expected volatility was based on historical volatilities using daily stock prices over the past three years. Expected dividend yields were calculated based on the most recent quarterly dividend rates announced prior to the measurement date and stock prices at the measurement date. The risk-free interest rate was based on the three-year U.S. Treasury rate in effect as of the measurement date. | ||||||||||||||||||||||||||||||||||||
Performance-contingent Restricted Stock - Vesting of performance-contingent restricted stock grants are based on the achievement of certain performance targets (currently specified growth of consolidated income from continuing operations). If performance targets are not met within the performance period, which currently ranges from two to four years, these restricted stock grants are forfeited. Payouts of nonvested performance-contingent restricted stock are based on achievement of the performance criteria and are prorated at retirement, death or disability based on time worked during the first year of the performance period and prorated at involuntary termination without cause based on time worked during the entire performance period. Upon achievement of the performance criteria, payouts of this performance-contingent restricted stock to participants who terminate employment after the first year of the performance period due to retirement, death or disability are not prorated. Participants’ nonvested performance-contingent restricted stock is forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause. The fair value of performance-contingent restricted stock is based on the closing market price on the grant date. A summary of the performance-contingent restricted stock activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | |||||||||||||||||||||||||||||||
Average | Average | Average | ||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||||||||||||||||||||
Nonvested shares, January 1 | 158,922 | $42.71 | 211,651 | $32.42 | 301,738 | $32.60 | ||||||||||||||||||||||||||||||
Granted | 51,221 | 53.77 | 49,093 | 47.58 | 45,612 | 43.05 | ||||||||||||||||||||||||||||||
Vested (a) | (90,847 | ) | 40.91 | — | — | (65,172 | ) | 32.56 | ||||||||||||||||||||||||||||
Forfeited (b) | (20,484 | ) | 39.85 | (101,822 | ) | 23.67 | (70,527 | ) | 39.93 | |||||||||||||||||||||||||||
Nonvested shares, December 31 | 98,812 | 50.69 | 158,922 | 42.71 | 211,651 | 32.42 | ||||||||||||||||||||||||||||||
(a) | In 2014, 45,612 and 45,235 performance contingent restricted shares granted in 2012 and 2011, respectively, vested because the specified performance criteria for such shares were met. In 2012, 65,172 performance-contingent restricted shares granted in 2010 vested because the specified performance criteria for such shares were met. | |||||||||||||||||||||||||||||||||||
(b) | In 2013 and 2012, 101,822 and 65,516 performance-contingent restricted shares granted in 2009 and 2008, respectively, were forfeited because the specified performance criteria for such shares were not met. The remaining forfeitures during 2014 and 2012 were primarily caused by retirements and terminations of participants. | |||||||||||||||||||||||||||||||||||
Performance Contingent Cash Awards - Performance contingent cash award payouts to key employees are based on the achievement of certain performance targets (currently specified growth of consolidated income from continuing operations). If performance targets are not met within the performance period, which currently ranges from two to four years, there are no payouts for these awards. Payouts of nonvested awards are based on achievement of the performance criteria and are prorated at retirement, death or disability based on time worked during the first year of the performance period. Upon achievement of the performance criteria, payouts of these awards to participants who terminate employment after the first year of the performance period due to retirement, death or disability are not prorated. Participants’ nonvested awards are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause. Each performance contingent cash award’s value is based on the price of one share of Alliant Energy’s common stock at the end of the performance period. Alliant Energy accounts for performance contingent cash awards as liability awards because payouts will be made in the form of cash. A summary of the performance contingent cash awards activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Awards | Awards | Awards | ||||||||||||||||||||||||||||||||||
Nonvested awards, January 1 | 96,977 | 59,639 | 46,676 | |||||||||||||||||||||||||||||||||
Granted | 42,446 | 39,530 | 36,936 | |||||||||||||||||||||||||||||||||
Vested (a) | (55,517 | ) | — | (21,605 | ) | |||||||||||||||||||||||||||||||
Forfeited | (4,976 | ) | (2,192 | ) | (2,368 | ) | ||||||||||||||||||||||||||||||
Nonvested awards, December 31 | 78,930 | 96,977 | 59,639 | |||||||||||||||||||||||||||||||||
(a) | In 2014, 34,766 and 20,751 performance contingent cash awards granted in 2012 and 2011 vested, resulting in cash payouts valued at $1.9 million and $1.1 million, respectively. In 2012, 21,605 performance contingent cash awards granted in 2010 vested, resulting in cash payouts valued at $0.9 million. | |||||||||||||||||||||||||||||||||||
(c) Deferred Compensation Plan - Alliant Energy maintains a DCP under which key employees may defer up to 100% of base salary and performance-based compensation and directors may elect to defer all or part of their retainer and committee fees. Key employees who have made the maximum allowed contribution to the Alliant Energy 401(k) Savings Plan may receive an additional credit to the DCP. Key employees and directors may elect to have their deferrals credited to a company stock account, an interest account or equity accounts based on certain benchmark funds. | ||||||||||||||||||||||||||||||||||||
Company Stock Accounts - The DCP does not permit diversification of deferrals credited to the company stock account and all distributions from participants’ company stock accounts are made in the form of shares of Alliant Energy common stock. The deferred compensation obligations for participants’ company stock accounts are recorded in “Additional paid-in capital” and the shares of Alliant Energy common stock held in a rabbi trust to satisfy this obligation are recorded in “Shares in deferred compensation trust” on Alliant Energy’s balance sheets. At December 31, the carrying value of the deferred compensation obligation for the company stock accounts and the shares in the deferred compensation trust based on the historical value of the shares of Alliant Energy common stock contributed to the rabbi trust, and the fair market value of the shares held in the rabbi trust were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Carrying value | $8.90 | $8.00 | ||||||||||||||||||||||||||||||||||
Fair market value | 15.9 | 11.7 | ||||||||||||||||||||||||||||||||||
Interest and Equity Accounts - Distributions from participants’ interest and equity accounts are in the form of cash payments. The deferred compensation obligations for participants’ interest and equity accounts are recorded in “Pension and other benefit obligations” on Alliant Energy’s and IPL’s balance sheets. At December 31, the carrying value of deferred compensation obligations for participants’ interest and equity accounts, which approximates fair market value, was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Carrying value | $17.80 | $15.90 | $5.20 | $5.20 | ||||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Benefit Plans | BENEFIT PLANS | |||||||||||||||||||||||||||||||||||
(a) Pension and Other Postretirement Benefits Plans - Retirement benefits are provided to substantially all employees through various qualified and non-qualified non-contributory defined benefit pension plans, and/or through defined contribution plans (including 401(k) savings plans). Qualified and non-qualified non-contributory defined benefit pension plans are currently closed to new hires. Benefits of the non-contributory defined benefit pension plans are based on the plan participant’s years of service, age and compensation. Benefits of the defined contribution plans are based on the plan participant’s years of service, age, compensation and contributions. Certain defined benefit postretirement health care and life benefits are provided to eligible retirees. In general, the retiree health care plans consist of fixed benefit subsidy structures and the retiree life insurance plans are non-contributory. | ||||||||||||||||||||||||||||||||||||
Assumptions - The assumptions for defined benefit pension and OPEB plans at the measurement date of December 31 were as follows: | ||||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.18% | 4.97% | 4.11% | 3.97% | 4.59% | 3.82% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 4.97% | 4.11% | 4.86% | 4.59% | 3.82% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.40% | 7.40% | 7.50% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | N/A | 3.50% | 3.50% | |||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.94% | 4.55% | 3.76% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.55% | 3.76% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.60% | 7.50% | 7.40% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.96% | 4.56% | 3.81% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.56% | 3.81% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.30% | 7.20% | 7.00% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets - The expected rate of return on plan assets is determined by analysis of projected asset class returns based on the target asset class allocations. A forward-looking building blocks approach is used, and historical returns, survey information and capital market information are reviewed to support the expected rate of return on plan assets assumption. Refer to “Investment Policy and Strategy for Plan Assets” below for additional information related to investment policy, and strategy and mix of assets for the pension and OPEB plans. | ||||||||||||||||||||||||||||||||||||
Life Expectancy - The life expectancy assumption is used in determining the benefit obligation and net periodic benefit cost for defined benefit pension and OPEB plans. This assumption was updated for the measurement date as of December 31, 2014 to utilize new mortality tables that were released in 2014 by the Society of Actuaries. The updated life expectancy assumption resulted in a significant increase to the associated obligations of the pension and OPEB plans. | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Costs (Credits) - The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans are included in the tables below (in millions). In the “IPL” and “WPL” tables below, the defined benefit pension plans costs represent those respective costs for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In the “IPL” and “WPL” tables below, the OPEB plans costs (credits) represent costs (credits) for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. | ||||||||||||||||||||||||||||||||||||
Alliant Energy | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $13.10 | $15.70 | $13.50 | $5.20 | $6.30 | $6.90 | ||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 51.6 | 9.5 | 8.5 | 10.2 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (74.9 | ) | (74.0 | ) | (68.8 | ) | (8.3 | ) | (8.1 | ) | (7.5 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.2 | 0.3 | (11.9 | ) | (11.9 | ) | (12.0 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 19.5 | 36.2 | 33.3 | 2.4 | 4.9 | 6.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 9 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
Settlement losses (e) | — | — | 5.4 | — | — | — | ||||||||||||||||||||||||||||||
$11.80 | $36.10 | $35.40 | ($3.1 | ) | ($0.3 | ) | $3.90 | |||||||||||||||||||||||||||||
IPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $7.20 | $8.60 | $7.50 | $2.40 | $2.90 | $3.00 | ||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 24.1 | 3.9 | 3.6 | 4.4 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (35.7 | ) | (35.2 | ) | (32.6 | ) | (5.8 | ) | (5.6 | ) | (5.1 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.1 | 0.2 | (6.3 | ) | (6.3 | ) | (6.3 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 8 | 15.2 | 14.1 | 1.1 | 2.7 | 3.5 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 2.6 | — | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $14.20 | $13.30 | ($4.7 | ) | ($2.7 | ) | ($0.5 | ) | ||||||||||||||||||||||||||||
WPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $4.90 | $5.90 | $5.20 | $2.00 | $2.50 | $2.70 | ||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 21.6 | 3.8 | 3.4 | 4.1 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (32.4 | ) | (31.9 | ) | (29.6 | ) | (1.3 | ) | (1.3 | ) | (1.3 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | 0.3 | 0.3 | 0.4 | (3.9 | ) | (3.9 | ) | (3.9 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 9.2 | 17.1 | 15.7 | 1.3 | 1.9 | 2.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 0.6 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $12.70 | $13.40 | $1.90 | $2.60 | $3.90 | |||||||||||||||||||||||||||||||
(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 Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits. | |||||||||||||||||||||||||||||||||||
(d) | In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement. | |||||||||||||||||||||||||||||||||||
(e) | Settlement losses related to payments made to retired executives of Alliant Energy. | |||||||||||||||||||||||||||||||||||
Corporate Services provides services to IPL and WPL, and as a result, IPL and WPL are allocated pension and OPEB costs (credits) associated with Corporate Services employees. Such costs (credits) are allocated to IPL and WPL based on total productive labor costs. The following table includes the allocated qualified and non-qualified pension and OPEB costs (credits) associated with Corporate Services employees providing services to IPL and WPL (in millions): | ||||||||||||||||||||||||||||||||||||
Pension Benefits Costs (a) | OPEB Costs (Credits) | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
IPL | $1.40 | $4.80 | $4.90 | ($0.3 | ) | ($0.3 | ) | $0.10 | ||||||||||||||||||||||||||||
WPL | 1.1 | 3.6 | 3.6 | (0.2 | ) | (0.2 | ) | 0.1 | ||||||||||||||||||||||||||||
(a) | Refer to IPL’s and WPL’s “Net Periodic Benefit Costs (Credits)” tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013. | |||||||||||||||||||||||||||||||||||
The estimated amortization from “Regulatory assets” and “Regulatory liabilities” on the balance sheets and AOCL on Alliant Energy’s balance sheet into net periodic benefit cost in 2015 is as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined Benefit | Defined Benefit | Defined Benefit | ||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||
Actuarial loss | $35.40 | $4.90 | $15.30 | $2.30 | $16.80 | $2.30 | ||||||||||||||||||||||||||||||
Prior service cost (credit) | (0.3 | ) | (11.3 | ) | (0.1 | ) | (6.1 | ) | 0.2 | (3.5 | ) | |||||||||||||||||||||||||
$35.10 | ($6.4 | ) | $15.20 | ($3.8 | ) | $17.00 | ($1.2 | ) | ||||||||||||||||||||||||||||
Net periodic benefit costs are primarily included in “Utility - Other operation and maintenance” in the income statements. | ||||||||||||||||||||||||||||||||||||
Benefit Plan Assets and Obligations - A reconciliation of the funded status of Alliant Energy’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on Alliant Energy’s balance sheets at December 31 was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $1,113.40 | $1,207.50 | $208.70 | $223.20 | ||||||||||||||||||||||||||||||||
Service cost | 13.1 | 15.7 | 5.2 | 6.3 | ||||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 9.5 | 8.5 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 2.8 | 2.6 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 9 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 195.8 | (94.1 | ) | 22.3 | (13.2 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (74.9 | ) | (73.7 | ) | (17.4 | ) | (18.7 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 1,301.50 | 1,113.40 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 1,022.90 | 965.6 | 124.9 | 123.1 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 66.4 | 128.5 | 5.6 | 14.4 | ||||||||||||||||||||||||||||||||
Employer contributions | 3.7 | 2.5 | 5.7 | 3.5 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 2.8 | 2.6 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (74.9 | ) | (73.7 | ) | (17.4 | ) | (18.7 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 1,018.10 | 1,022.90 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($283.4 | ) | ($90.5 | ) | ($109.5 | ) | ($83.8 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $6.10 | $14.50 | ||||||||||||||||||||||||||||||||
Other current liabilities | (2.5 | ) | (2.4 | ) | (5.6 | ) | (4.8 | ) | ||||||||||||||||||||||||||||
Pension and other benefit obligations | (280.9 | ) | (88.1 | ) | (110.0 | ) | (93.5 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($283.4 | ) | ($90.5 | ) | ($109.5 | ) | ($83.8 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $533.40 | $348.60 | $60.70 | $38.10 | ||||||||||||||||||||||||||||||||
Prior service credit | (7.4 | ) | (7.4 | ) | (16.7 | ) | (28.6 | ) | ||||||||||||||||||||||||||||
$526.00 | $341.20 | $44.00 | $9.50 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 and Alliant Energy’s common equity statements for amounts recognized in “Regulatory assets” and “AOCL,” respectively, on Alliant Energy’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $5.1 million, respectively, of regulatory liabilities were recognized related to Alliant Energy’s OPEB plans. | |||||||||||||||||||||||||||||||||||
In the “IPL” and “WPL” tables below, the defined benefit pension plans amounts represent those respective amounts for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In the “IPL” and “WPL” tables below, the OPEB plans amounts represent amounts for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. | ||||||||||||||||||||||||||||||||||||
A reconciliation of the funded status of IPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on IPL’s balance sheets at December 31 was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $514.00 | $559.20 | $87.80 | $96.00 | ||||||||||||||||||||||||||||||||
Service cost | 7.2 | 8.6 | 2.4 | 2.9 | ||||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 3.9 | 3.6 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 2.6 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 91.4 | (44.3 | ) | 8.6 | (7.0 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (34.6 | ) | (35.0 | ) | (7.2 | ) | (8.6 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 603.1 | 514 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 485.9 | 458.8 | 81.2 | 78.8 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 32.1 | 61.2 | 3.6 | 10 | ||||||||||||||||||||||||||||||||
Employer contributions | 1.3 | 0.9 | 0.2 | 0.1 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (34.6 | ) | (35.0 | ) | (7.2 | ) | (8.6 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 484.7 | 485.9 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($118.4 | ) | ($28.1 | ) | ($17.7 | ) | ($6.6 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $1.20 | $8.80 | ||||||||||||||||||||||||||||||||
Other current liabilities | (0.8 | ) | (0.8 | ) | — | — | ||||||||||||||||||||||||||||||
Pension and other benefit obligations | (117.6 | ) | (27.3 | ) | (18.9 | ) | (15.4 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($118.4 | ) | ($28.1 | ) | ($17.7 | ) | ($6.6 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $233.10 | $146.10 | $27.90 | $18.20 | ||||||||||||||||||||||||||||||||
Prior service credit | (2.6 | ) | (2.6 | ) | (8.7 | ) | (15.0 | ) | ||||||||||||||||||||||||||||
$230.50 | $143.50 | $19.20 | $3.20 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 for amounts recognized in “Regulatory assets” on IPL’s balance sheets. At December 31, 2014 and 2013, $0 and $1.0 million, respectively, of regulatory liabilities were recognized related to IPL’s OPEB plans. | |||||||||||||||||||||||||||||||||||
A reconciliation of the funded status of WPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on WPL’s balance sheets at December 31 was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $460.80 | $506.70 | $85.60 | $89.10 | ||||||||||||||||||||||||||||||||
Service cost | 4.9 | 5.9 | 2 | 2.5 | ||||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 3.8 | 3.4 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 1.3 | 1.2 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 0.6 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 86.7 | (41.1 | ) | 9.2 | (3.0 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (27.4 | ) | (32.0 | ) | (7.9 | ) | (7.6 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 547.6 | 460.8 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 438.8 | 415.4 | 21.7 | 22.3 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 28.6 | 55.2 | 1.2 | 2.5 | ||||||||||||||||||||||||||||||||
Employer contributions | 0.3 | 0.2 | 5.5 | 3.3 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 1.3 | 1.2 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (27.4 | ) | (32.0 | ) | (7.9 | ) | (7.6 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 440.3 | 438.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($107.3 | ) | ($22.0 | ) | ($72.2 | ) | ($63.9 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $4.90 | $5.80 | ||||||||||||||||||||||||||||||||
Other current liabilities | (0.1 | ) | (0.2 | ) | (5.5 | ) | (4.8 | ) | ||||||||||||||||||||||||||||
Pension and other benefit obligations | (107.2 | ) | (21.8 | ) | (71.6 | ) | (64.9 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($107.3 | ) | ($22.0 | ) | ($72.2 | ) | ($63.9 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $233.50 | $152.20 | $26.30 | $18.30 | ||||||||||||||||||||||||||||||||
Prior service credit | (1.0 | ) | (0.7 | ) | (5.6 | ) | (9.5 | ) | ||||||||||||||||||||||||||||
$232.50 | $151.50 | $20.70 | $8.80 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 for amounts recognized in “Regulatory assets” on WPL’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $1.1 million, respectively, of regulatory liabilities were recognized related to WPL’s OPEB plans. | |||||||||||||||||||||||||||||||||||
Included in the following tables are accumulated benefit obligations, aggregate amounts applicable to defined benefit pension and OPEB plans with accumulated benefit obligations in excess of plan assets, as well as defined benefit pension plans with projected benefit obligations in excess of plan assets as of the December 31 measurement date (in millions): | ||||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $1,255.00 | $1,071.70 | $231.10 | $208.70 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 1,255.00 | 406.5 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 347.6 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 1,301.50 | 1,113.40 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 1,022.90 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $575.50 | $491.50 | $96.40 | $87.80 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 575.5 | 159.3 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 144.6 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 603.1 | 514 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 485.9 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $532.50 | $446.70 | $94.00 | $85.60 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 532.5 | 115.6 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 106.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 547.6 | 460.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 438.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
In addition to the amounts recognized in “Regulatory assets and regulatory liabilities” in the above tables for IPL and WPL, “Regulatory assets” and “Regulatory liabilities” were recognized for amounts associated with Corporate Services employees participating in other Alliant Energy sponsored benefit plans that were allocated to IPL and WPL at December 31 as follows (in millions): | ||||||||||||||||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Regulatory assets | $38.20 | $26.50 | $28.00 | $19.80 | ||||||||||||||||||||||||||||||||
Regulatory liabilities | — | 1.7 | — | 1.3 | ||||||||||||||||||||||||||||||||
Estimated Future Employer Contributions and Benefit Payments - Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2015 is as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined benefit pension plans (a) | $2.50 | $0.80 | $0.20 | |||||||||||||||||||||||||||||||||
OPEB plans | 5.7 | — | 5.5 | |||||||||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
Expected benefit payments for the qualified and non-qualified defined benefit plans, which reflect expected future service, as appropriate, are as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $66.70 | $71.50 | $69.30 | $72.90 | $73.60 | $396.10 | ||||||||||||||||||||||||||||||
OPEB | 17.6 | 16.8 | 16.7 | 16.9 | 17 | 84 | ||||||||||||||||||||||||||||||
$84.30 | $88.30 | $86.00 | $89.80 | $90.60 | $480.10 | |||||||||||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $30.40 | $31.60 | $33.10 | $34.90 | $34.70 | $189.90 | ||||||||||||||||||||||||||||||
OPEB | 7.4 | 7.2 | 7.2 | 7.2 | 7.2 | 35.3 | ||||||||||||||||||||||||||||||
$37.80 | $38.80 | $40.30 | $42.10 | $41.90 | $225.20 | |||||||||||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $28.40 | $28.00 | $28.80 | $30.10 | $30.50 | $163.40 | ||||||||||||||||||||||||||||||
OPEB | 7.7 | 7 | 7 | 7 | 7.1 | 34.2 | ||||||||||||||||||||||||||||||
$36.10 | $35.00 | $35.80 | $37.10 | $37.60 | $197.60 | |||||||||||||||||||||||||||||||
Investment Policy and Strategy for Plan Assets - Investment policies and strategies employed with respect to assets of defined benefit pension and OPEB plans are to combine both preservation of principal and prudent and reasonable risk-taking to protect the integrity of plan assets, in order to meet the obligations to plan participants while minimizing benefit costs over the long term. It is recognized that risk and volatility are present with all types of investments. However, risk is mitigated at the total fund level through diversification by asset class including U.S. and international equity and fixed income exposure, global asset and risk parity strategies, the number of individual investments, and sector and industry limits. Global asset and risk parity strategies include investments in global equity, global debt, commodities and currencies. | ||||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans Assets - For assets of defined benefit pension plans, the mix among asset classes is controlled by asset allocation targets. Historical performance results and future expectations suggest that equity securities will provide higher total investment returns than debt securities over a long-term investment horizon. Consistent with the goals of meeting obligations to plan participants and minimizing benefit costs over the long-term, the defined benefit pension plans have a long-term investment posture more heavily weighted towards equity holdings. The asset allocation is monitored regularly and appropriate steps are taken as needed to rebalance the assets within the prescribed ranges. An overlay management service is also used to help maintain target allocations and meet liquidity needs. The overlay manager is authorized to use derivative financial instruments to facilitate this service. For separately managed accounts, prohibited investment vehicles include, but may not be limited to, direct ownership of real estate, margin trading, oil and gas limited partnerships and securities of the managers’ firms or affiliate firms. | ||||||||||||||||||||||||||||||||||||
At December 31, 2014, the current target ranges and actual allocations for the defined benefit pension plan assets were as follows: | ||||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 5% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 8 | % | - | 18% | 13% | |||||||||||||||||||||||||||||||
U.S. large cap value | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. large cap growth | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. small cap value | 0 | % | - | 4% | 1% | |||||||||||||||||||||||||||||||
U.S. small cap growth | 0 | % | - | 4% | 2% | |||||||||||||||||||||||||||||||
International - developed markets | 7 | % | - | 19% | 10% | |||||||||||||||||||||||||||||||
International - emerging markets | 0 | % | - | 10% | 5% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Risk parity allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Fixed income securities | 20 | % | - | 40% | 30% | |||||||||||||||||||||||||||||||
Other Postretirement Benefits Plans Assets - OPEB plans assets are comprised of specific assets within certain defined benefit pension plans (401(h) assets) as well as assets held in VEBA trusts. The investment policy and strategy of the 401(h) assets mirrors those of the defined benefit pension plans, which are discussed above. For VEBA trusts with assets greater than $5 million, the mix among asset classes is controlled by allocation targets. The asset allocation is monitored regularly and appropriate steps are taken as needed to rebalance the assets within the prescribed ranges. Mutual funds are used to achieve the desired diversification. At December 31, 2014, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million were as follows: | ||||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 2% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
Domestic | 25 | % | - | 45% | 36% | |||||||||||||||||||||||||||||||
International | 10 | % | - | 20% | 14% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 20 | % | - | 40% | 29% | |||||||||||||||||||||||||||||||
Fixed income securities | 10 | % | - | 30% | 19% | |||||||||||||||||||||||||||||||
Fair Value Measurements - The following tables report a framework for measuring fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy and examples of each are as follows: | ||||||||||||||||||||||||||||||||||||
Level 1 - Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the reporting date. Investments in securities held in registered investment companies and directly held equity securities are valued at the closing price reported in the active market in which the securities are traded. | ||||||||||||||||||||||||||||||||||||
Level 2 - Pricing inputs are quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Investments in common/collective trusts are valued at the net asset value of shares held by the plans, which is based on the fair market value of the underlying investments in the common/collective trusts. Investments in corporate bonds and government and agency obligations are valued at the closing price reported in the active market for similar assets in which the individual securities are traded or based on yields currently available on comparable securities of issuers with similar credit ratings. | ||||||||||||||||||||||||||||||||||||
Level 3 - Pricing inputs are unobservable inputs for assets or liabilities for which little or no market data exist and require significant management judgment or estimation. | ||||||||||||||||||||||||||||||||||||
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. | ||||||||||||||||||||||||||||||||||||
The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while Alliant Energy, IPL and WPL believe their valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. | ||||||||||||||||||||||||||||||||||||
At December 31, the fair values of Alliant Energy’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $49.30 | $— | $49.30 | $— | $32.60 | $— | $32.60 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 137.2 | 137.2 | — | — | 134.1 | 134.1 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 72.2 | — | 72.2 | — | 77 | — | 77 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 73.2 | — | 73.2 | — | 77.4 | — | 77.4 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 15.2 | — | 15.2 | — | 20.7 | — | 20.7 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 15.9 | 15.9 | — | — | 20.8 | 20.8 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 102.9 | 52.1 | 50.8 | — | 136.3 | 68 | 68.3 | — | ||||||||||||||||||||||||||||
International - emerging markets | 47.2 | 47.2 | — | — | 48.4 | 48.4 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 99.9 | 57.2 | 42.7 | — | 99.1 | 56.7 | 42.4 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 102.5 | — | 102.5 | — | 96.1 | — | 96.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | 0.1 | — | 0.1 | — | 29.2 | — | 29.2 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 49.1 | — | 49.1 | — | ||||||||||||||||||||||||||||
Fixed income funds | 302.7 | 0.2 | 302.5 | — | 202.2 | 0.2 | 202 | — | ||||||||||||||||||||||||||||
1,018.30 | $309.80 | $708.50 | $— | 1,023.00 | $328.20 | $694.80 | $— | |||||||||||||||||||||||||||||
Accrued investment income | 0.1 | 0.7 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.3 | ) | (0.8 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $1,018.10 | $1,022.90 | ||||||||||||||||||||||||||||||||||
At December 31, the fair values of IPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $23.50 | $— | $23.50 | $— | $15.40 | $— | $15.40 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 65.3 | 65.3 | — | — | 63.7 | 63.7 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 34.4 | — | 34.4 | — | 36.6 | — | 36.6 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 34.9 | — | 34.9 | — | 36.8 | — | 36.8 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 7.2 | — | 7.2 | — | 9.8 | — | 9.8 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 7.6 | 7.6 | — | — | 9.9 | 9.9 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 49 | 24.8 | 24.2 | — | 64.8 | 32.3 | 32.5 | — | ||||||||||||||||||||||||||||
International - emerging markets | 22.5 | 22.5 | — | — | 23 | 23 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 47.5 | 27.2 | 20.3 | — | 47.1 | 27 | 20.1 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 48.8 | — | 48.8 | — | 45.7 | — | 45.7 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 13.9 | — | 13.9 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 23.3 | — | 23.3 | — | ||||||||||||||||||||||||||||
Fixed income funds | 144.1 | 0.1 | 144 | — | 96.1 | 0.1 | 96 | — | ||||||||||||||||||||||||||||
484.8 | $147.50 | $337.30 | $— | 486.1 | $156.00 | $330.10 | $— | |||||||||||||||||||||||||||||
Accrued investment income | 0.1 | 0.2 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.2 | ) | (0.4 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $484.70 | $485.90 | ||||||||||||||||||||||||||||||||||
At December 31, the fair values of WPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $21.30 | $— | $21.30 | $— | $14.00 | $— | $14.00 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 59.3 | 59.3 | — | — | 57.5 | 57.5 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 31.3 | — | 31.3 | — | 33.1 | — | 33.1 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 31.7 | — | 31.7 | — | 33.2 | — | 33.2 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 6.6 | — | 6.6 | — | 8.9 | — | 8.9 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 6.9 | 6.9 | — | — | 8.9 | 8.9 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 44.5 | 22.5 | 22 | — | 58.5 | 29.2 | 29.3 | — | ||||||||||||||||||||||||||||
International - emerging markets | 20.4 | 20.4 | — | — | 20.8 | 20.8 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 43.2 | 24.8 | 18.4 | — | 42.5 | 24.3 | 18.2 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 44.3 | — | 44.3 | — | 41.2 | — | 41.2 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 12.5 | — | 12.5 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 21 | — | 21 | — | ||||||||||||||||||||||||||||
Fixed income funds | 130.9 | 0.1 | 130.8 | — | 86.8 | 0.1 | 86.7 | — | ||||||||||||||||||||||||||||
440.4 | $134.00 | $306.40 | $— | 438.9 | $140.80 | $298.10 | $— | |||||||||||||||||||||||||||||
Accrued investment income | — | 0.2 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $440.30 | $438.80 | ||||||||||||||||||||||||||||||||||
At December 31, the fair values of Alliant Energy’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $3.70 | $— | $3.70 | $— | $3.90 | $— | $3.90 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 35.8 | 35.8 | — | — | 36.8 | 36.8 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 2.9 | 2.9 | — | — | 2.9 | 2.9 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 1.5 | — | 1.5 | — | 1.7 | — | 1.7 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 1.6 | — | 1.6 | — | 1.7 | — | 1.7 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.3 | — | 0.3 | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.4 | 0.4 | — | — | 0.5 | 0.5 | — | — | ||||||||||||||||||||||||||||
International - blend | 14.2 | 14.2 | — | — | 15.4 | 15.4 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 2.2 | 1.1 | 1.1 | — | 3 | 1.5 | 1.5 | — | ||||||||||||||||||||||||||||
International - emerging markets | 1 | 1 | — | — | 1.1 | 1.1 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 30.3 | 29.4 | 0.9 | — | 30.4 | 29.5 | 0.9 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 2.2 | — | 2.2 | — | 2.1 | — | 2.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.6 | — | 0.6 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 1.1 | — | 1.1 | — | ||||||||||||||||||||||||||||
Fixed income funds | 25.5 | 19 | 6.5 | — | 23.2 | 18.8 | 4.4 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $121.60 | $103.80 | $17.80 | $— | $124.90 | $106.50 | $18.40 | $— | ||||||||||||||||||||||||||||
At December 31, the fair values of IPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $1.40 | $— | $1.40 | $— | $1.50 | $— | $1.50 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 27.2 | 27.2 | — | — | 27.8 | 27.8 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 0.5 | 0.5 | — | — | 0.7 | 0.7 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 0.3 | — | 0.3 | — | 0.4 | — | 0.4 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 0.3 | — | 0.3 | — | 0.4 | — | 0.4 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.1 | — | 0.1 | — | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.1 | 0.1 | — | — | 0.1 | 0.1 | — | — | ||||||||||||||||||||||||||||
International - blend | 10.7 | 10.7 | — | — | 11.6 | 11.6 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 0.4 | 0.2 | 0.2 | — | 0.8 | 0.4 | 0.4 | — | ||||||||||||||||||||||||||||
International - emerging markets | 0.2 | 0.2 | — | — | 0.3 | 0.3 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 21.6 | 21.5 | 0.1 | — | 21.6 | 21.4 | 0.2 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 0.4 | — | 0.4 | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 0.3 | — | 0.3 | — | ||||||||||||||||||||||||||||
Fixed income funds | 15.5 | 14.3 | 1.2 | — | 15 | 13.9 | 1.1 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $78.70 | $74.70 | $4.00 | $— | $81.20 | $76.20 | $5.00 | $— | ||||||||||||||||||||||||||||
At December 31, the fair values of WPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $1.40 | $— | $1.40 | $— | $1.40 | $— | $1.40 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 3.6 | 3.6 | — | — | 3.6 | 3.6 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 1.6 | 1.6 | — | — | 1.5 | 1.5 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 0.8 | — | 0.8 | — | 0.8 | — | 0.8 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 0.8 | — | 0.8 | — | 0.8 | — | 0.8 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.2 | — | 0.2 | — | 0.2 | — | 0.2 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.2 | 0.2 | — | — | 0.2 | 0.2 | — | — | ||||||||||||||||||||||||||||
International - blend | 1.4 | 1.4 | — | — | 1.5 | 1.5 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 1.2 | 0.6 | 0.6 | — | 1.5 | 0.7 | 0.8 | — | ||||||||||||||||||||||||||||
International - emerging markets | 0.5 | 0.5 | — | — | 0.5 | 0.5 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 3.8 | 3.3 | 0.5 | — | 3.8 | 3.3 | 0.5 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 1.1 | — | 1.1 | — | 1.1 | — | 1.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.3 | — | 0.3 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
Fixed income funds | 5.2 | 1.8 | 3.4 | — | 4 | 1.8 | 2.2 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $21.80 | $13.00 | $8.80 | $— | $21.70 | $13.10 | $8.60 | $— | ||||||||||||||||||||||||||||
For the various defined benefit pension and OPEB plans, Alliant Energy common stock represented less than 1% of assets directly held in the plans at December 31, 2014 and 2013. | ||||||||||||||||||||||||||||||||||||
Cash Balance Plan - Alliant Energy’s defined benefit pension plans include the Cash Balance Plan, which provides benefits for certain non-bargaining unit employees. The Cash Balance Plan has been closed to new hires since 2005. Effective 2008, Alliant Energy amended the Cash Balance Plan by discontinuing additional contributions into employees’ Cash Balance Plan accounts and increased its level of contributions to its 401(k) Savings Plan. In 2009, Alliant Energy amended the Cash Balance Plan by changing participants’ future interest credit formula to use the annual change in the consumer price index. This amendment provides participants an interest crediting rate that is 3% more than the annual change in the consumer price index. | ||||||||||||||||||||||||||||||||||||
In 2008, a class-action lawsuit was filed against the Cash Balance Plan. The complaint alleged that certain Cash Balance Plan participants who received distributions prior to their normal retirement age did not receive the full benefit to which they were entitled in violation of the Employee Retirement Income Security Act of 1974 because the Cash Balance Plan applied an improper interest crediting rate to project the cash balance account to their normal retirement age. These Cash Balance Plan participants were limited to individuals who, prior to normal retirement age, received a lump-sum distribution or an annuity payment. | ||||||||||||||||||||||||||||||||||||
The Cash Balance Plan entered into a stipulation agreement with the plaintiffs, which was filed with the Court in 2013 settling all open matters in the case. In January 2014, the Court entered final judgment in the total amount of $9.0 million. Plaintiffs’ attorney’s fees and costs were paid from the final damages. Due to the stipulation agreement filed with the Court in 2013, Alliant Energy, IPL and WPL recognized the additional benefits to be paid to the plaintiffs in their income statements in 2013. As a result of the January 2014 final Court order requiring plaintiffs’ attorney’s fees and costs to be paid out of the final judgment, Alliant Energy, IPL and WPL reversed the reserve previously recorded related to payment of plaintiffs’ attorney’s fees and costs. As a result of recognizing the additional benefits of $9.0 million to be paid to the plaintiffs and reversing the previously recorded reserve of $6.7 million for plaintiffs’ attorney’s fees and costs, there was not a net material impact on Alliant Energy’s, IPL’s or WPL’s results of operations for 2013. | ||||||||||||||||||||||||||||||||||||
401(k) Savings Plans - A significant number of employees participate in defined contribution retirement plans (401(k) savings plans). Alliant Energy common stock represented 12.6% and 11.3% of total assets held in 401(k) savings plans at December 31, 2014 and 2013, respectively. Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions, were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL (a) | WPL (a) | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
401(k) costs | $22.50 | $19.20 | $18.50 | $11.10 | $9.90 | $9.60 | $10.50 | $8.50 | $8.10 | |||||||||||||||||||||||||||
(a) | IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees. | |||||||||||||||||||||||||||||||||||
(b) Equity-based Compensation Plans - In 2010, Alliant Energy’s shareowners approved the OIP, which permits the grant of stock options, restricted stock, restricted stock units, performance shares, performance units, and other stock-based awards and performance-based cash awards to key employees. At December 31, 2014, performance shares and restricted stock were outstanding and 3.9 million shares of Alliant Energy’s common stock remained available for grants under the OIP. Alliant Energy satisfies payouts related to equity awards under the OIP through the issuance of new shares of its common stock. Alliant Energy also has the DLIP, which permits the grant of cash-based long-term performance-based awards, including performance units and restricted cash awards to certain key employees. At December 31, 2014, performance units and performance contingent cash awards were outstanding under the DLIP. There is no limit to the number of grants that can be made under the DLIP and Alliant Energy satisfies all payouts under the DLIP through cash payments. | ||||||||||||||||||||||||||||||||||||
A summary of compensation expense (including amounts allocated to IPL and WPL) and the related income tax benefits recognized for share-based compensation awards was as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Compensation expense | $15.30 | $12.00 | $6.90 | $8.30 | $6.20 | $3.60 | $6.40 | $5.20 | $3.00 | |||||||||||||||||||||||||||
Income tax benefits | 6.2 | 4.8 | 2.8 | 3.4 | 2.5 | 1.5 | 2.6 | 2.1 | 1.2 | |||||||||||||||||||||||||||
As of December 31, 2014, total unrecognized compensation cost related to share-based compensation awards was $6.5 million, which is expected to be recognized over a weighted average period of between 1 and 2 years. Share-based compensation expense is recognized on a straight-line basis over the requisite service periods and is primarily recorded in “Utility - Other operation and maintenance” in the income statements. | ||||||||||||||||||||||||||||||||||||
Performance Shares and Units - Payouts of performance shares and units to key employees are contingent upon achievement over 3-year periods of specified performance criteria, which currently include metrics of total shareowner return relative to an investor-owned utility peer group. Payouts of nonvested performance shares and units are based on achievement of the performance criteria and are prorated at retirement, death or disability based on time worked during the first year of the performance period and prorated at involuntary termination without cause based on time worked during the entire performance period. Upon achievement of the performance criteria, payouts of these performance shares and units to participants who terminate employment after the first year of the performance period due to retirement, death or disability are not prorated. Participants’ nonvested performance shares and units are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause. Nonvested performance shares and units do not have non-forfeitable rights to dividends when dividends are paid to common shareowners. Alliant Energy assumes it will make future payouts of its performance shares and units in cash; therefore, performance shares and units are accounted for as liability awards. | ||||||||||||||||||||||||||||||||||||
Performance Shares - Performance shares can be paid out in shares of Alliant Energy’s common stock, cash or a combination of cash and stock and are adjusted by a performance multiplier, which ranges from zero to 200% based on the performance criteria. A summary of the performance shares activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares (a) | Shares (a) | Shares (a) | ||||||||||||||||||||||||||||||||||
Nonvested shares, January 1 | 139,940 | 145,277 | 236,979 | |||||||||||||||||||||||||||||||||
Granted | 51,221 | 49,093 | 45,612 | |||||||||||||||||||||||||||||||||
Vested | (45,235 | ) | (54,430 | ) | (111,980 | ) | ||||||||||||||||||||||||||||||
Forfeited (b) | (1,502 | ) | — | (25,334 | ) | |||||||||||||||||||||||||||||||
Nonvested shares, December 31 | 144,424 | 139,940 | 145,277 | |||||||||||||||||||||||||||||||||
(a) | Share amounts represent the target number of performance shares. Each performance share’s value is based on the closing market price of one share of Alliant Energy’s common stock at the end of the performance period. The actual number of shares that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of shares. | |||||||||||||||||||||||||||||||||||
(b) | Forfeitures were primarily caused by retirements and voluntary terminations of participants. | |||||||||||||||||||||||||||||||||||
Certain performance shares vested, resulting in payouts (a combination of cash and common stock) as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
2011 Grant | 2010 Grant | 2009 Grant | ||||||||||||||||||||||||||||||||||
Performance shares vested | 45,235 | 54,430 | 111,980 | |||||||||||||||||||||||||||||||||
Percentage of target number of performance shares | 147.5 | % | 197.5 | % | 162.5 | % | ||||||||||||||||||||||||||||||
Aggregate payout value (in millions) | $3.40 | $4.80 | $8.00 | |||||||||||||||||||||||||||||||||
Payout - cash (in millions) | $2.90 | $4.40 | $7.80 | |||||||||||||||||||||||||||||||||
Payout - common stock shares issued | 4,810 | 4,177 | 6,399 | |||||||||||||||||||||||||||||||||
Performance Units - Performance units must be paid out in cash and are adjusted by a performance multiplier, which ranges from zero to 200% based on the performance criteria. A summary of the performance unit activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Units (a) | Units (a) | Units (a) | ||||||||||||||||||||||||||||||||||
Nonvested units, January 1 | 65,912 | 64,969 | 42,996 | |||||||||||||||||||||||||||||||||
Granted | 20,422 | 22,201 | 24,686 | |||||||||||||||||||||||||||||||||
Vested | (20,751 | ) | (19,760 | ) | — | |||||||||||||||||||||||||||||||
Forfeited | (1,918 | ) | (1,498 | ) | (2,713 | ) | ||||||||||||||||||||||||||||||
Nonvested units, December 31 | 63,665 | 65,912 | 64,969 | |||||||||||||||||||||||||||||||||
(a) | Unit amounts represent the target number of performance units. Each performance unit’s value is based on the average price of one share of Alliant Energy’s common stock on the grant date of the award. The actual payout for performance units is dependent upon actual performance and may range from zero to 200% of the target number of units. | |||||||||||||||||||||||||||||||||||
Certain performance units vested, resulting in cash payouts as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
2011 Grant | 2010 Grant | |||||||||||||||||||||||||||||||||||
Performance units vested | 20,751 | 19,760 | ||||||||||||||||||||||||||||||||||
Percentage of target number of performance units | 147.5 | % | 197.5 | % | ||||||||||||||||||||||||||||||||
Payout value (in millions) | $1.20 | $1.30 | ||||||||||||||||||||||||||||||||||
Fair Value of Awards - Information related to fair values of nonvested performance shares and units at December 31, 2014, by year of grant, were as follows: | ||||||||||||||||||||||||||||||||||||
Performance Shares | Performance Units | |||||||||||||||||||||||||||||||||||
2014 Grant | 2013 Grant | 2012 Grant | 2014 Grant | 2013 Grant | 2012 Grant | |||||||||||||||||||||||||||||||
Nonvested awards | 49,719 | 49,093 | 45,612 | 19,440 | 21,380 | 22,845 | ||||||||||||||||||||||||||||||
Alliant Energy common stock closing price on December 31, 2014 | $66.42 | $66.42 | $66.42 | |||||||||||||||||||||||||||||||||
Alliant Energy common stock closing price on grant date | $53.77 | $47.58 | $43.05 | |||||||||||||||||||||||||||||||||
Estimated payout percentage based on performance criteria | 125 | % | 160 | % | 168 | % | 125 | % | 160 | % | 168 | % | ||||||||||||||||||||||||
Fair values of each nonvested award | $83.03 | $106.27 | $111.25 | $67.21 | $76.13 | $72.11 | ||||||||||||||||||||||||||||||
At December 31, 2014, fair values of nonvested performance shares and units were calculated using a Monte Carlo simulation to determine the anticipated total shareowner returns of Alliant Energy and its investor-owned utility peer group. Expected volatility was based on historical volatilities using daily stock prices over the past three years. Expected dividend yields were calculated based on the most recent quarterly dividend rates announced prior to the measurement date and stock prices at the measurement date. The risk-free interest rate was based on the three-year U.S. Treasury rate in effect as of the measurement date. | ||||||||||||||||||||||||||||||||||||
Performance-contingent Restricted Stock - Vesting of performance-contingent restricted stock grants are based on the achievement of certain performance targets (currently specified growth of consolidated income from continuing operations). If performance targets are not met within the performance period, which currently ranges from two to four years, these restricted stock grants are forfeited. Payouts of nonvested performance-contingent restricted stock are based on achievement of the performance criteria and are prorated at retirement, death or disability based on time worked during the first year of the performance period and prorated at involuntary termination without cause based on time worked during the entire performance period. Upon achievement of the performance criteria, payouts of this performance-contingent restricted stock to participants who terminate employment after the first year of the performance period due to retirement, death or disability are not prorated. Participants’ nonvested performance-contingent restricted stock is forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause. The fair value of performance-contingent restricted stock is based on the closing market price on the grant date. A summary of the performance-contingent restricted stock activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | |||||||||||||||||||||||||||||||
Average | Average | Average | ||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||||||||||||||||||||
Nonvested shares, January 1 | 158,922 | $42.71 | 211,651 | $32.42 | 301,738 | $32.60 | ||||||||||||||||||||||||||||||
Granted | 51,221 | 53.77 | 49,093 | 47.58 | 45,612 | 43.05 | ||||||||||||||||||||||||||||||
Vested (a) | (90,847 | ) | 40.91 | — | — | (65,172 | ) | 32.56 | ||||||||||||||||||||||||||||
Forfeited (b) | (20,484 | ) | 39.85 | (101,822 | ) | 23.67 | (70,527 | ) | 39.93 | |||||||||||||||||||||||||||
Nonvested shares, December 31 | 98,812 | 50.69 | 158,922 | 42.71 | 211,651 | 32.42 | ||||||||||||||||||||||||||||||
(a) | In 2014, 45,612 and 45,235 performance contingent restricted shares granted in 2012 and 2011, respectively, vested because the specified performance criteria for such shares were met. In 2012, 65,172 performance-contingent restricted shares granted in 2010 vested because the specified performance criteria for such shares were met. | |||||||||||||||||||||||||||||||||||
(b) | In 2013 and 2012, 101,822 and 65,516 performance-contingent restricted shares granted in 2009 and 2008, respectively, were forfeited because the specified performance criteria for such shares were not met. The remaining forfeitures during 2014 and 2012 were primarily caused by retirements and terminations of participants. | |||||||||||||||||||||||||||||||||||
Performance Contingent Cash Awards - Performance contingent cash award payouts to key employees are based on the achievement of certain performance targets (currently specified growth of consolidated income from continuing operations). If performance targets are not met within the performance period, which currently ranges from two to four years, there are no payouts for these awards. Payouts of nonvested awards are based on achievement of the performance criteria and are prorated at retirement, death or disability based on time worked during the first year of the performance period. Upon achievement of the performance criteria, payouts of these awards to participants who terminate employment after the first year of the performance period due to retirement, death or disability are not prorated. Participants’ nonvested awards are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause. Each performance contingent cash award’s value is based on the price of one share of Alliant Energy’s common stock at the end of the performance period. Alliant Energy accounts for performance contingent cash awards as liability awards because payouts will be made in the form of cash. A summary of the performance contingent cash awards activity was as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Awards | Awards | Awards | ||||||||||||||||||||||||||||||||||
Nonvested awards, January 1 | 96,977 | 59,639 | 46,676 | |||||||||||||||||||||||||||||||||
Granted | 42,446 | 39,530 | 36,936 | |||||||||||||||||||||||||||||||||
Vested (a) | (55,517 | ) | — | (21,605 | ) | |||||||||||||||||||||||||||||||
Forfeited | (4,976 | ) | (2,192 | ) | (2,368 | ) | ||||||||||||||||||||||||||||||
Nonvested awards, December 31 | 78,930 | 96,977 | 59,639 | |||||||||||||||||||||||||||||||||
(a) | In 2014, 34,766 and 20,751 performance contingent cash awards granted in 2012 and 2011 vested, resulting in cash payouts valued at $1.9 million and $1.1 million, respectively. In 2012, 21,605 performance contingent cash awards granted in 2010 vested, resulting in cash payouts valued at $0.9 million. |
Asset_Retirement_Obligations
Asset Retirement Obligations | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Schedule of Asset Retirement Obligations [Line Items] | ||||||||||||||||||||||||
Asset Retirement Obligations (AROs) | ASSET RETIREMENT OBLIGATIONS | |||||||||||||||||||||||
Recognized AROs relate to legal obligations for the removal, closure or dismantlement of several assets including, but not limited to, wind projects, certain ash ponds, active ash landfills, certain coal yards and above ground storage tanks. Recognized AROs also include legal obligations for the management and final disposition of asbestos and polychlorinated biphenyls. AROs are recorded in “Other liabilities” on the balance sheets. Refer to Note 2 for information regarding regulatory assets related to AROs. A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Balance, January 1 | $109.70 | $101.50 | $47.90 | $45.50 | $52.40 | $46.90 | ||||||||||||||||||
Revisions in estimated cash flows | — | 5.6 | — | 0.1 | — | 5.5 | ||||||||||||||||||
Liabilities settled | (3.4 | ) | (2.3 | ) | (1.4 | ) | (0.6 | ) | (2.0 | ) | (1.7 | ) | ||||||||||||
Liabilities incurred | 3.7 | 1.2 | 3.5 | 1.2 | 0.2 | — | ||||||||||||||||||
Accretion expense | 4 | 3.7 | 1.8 | 1.7 | 1.8 | 1.7 | ||||||||||||||||||
Balance, December 31 | $114.00 | $109.70 | $51.80 | $47.90 | $52.40 | $52.40 | ||||||||||||||||||
In addition, certain AROs related to EGU assets have not been recognized. Due to an indeterminate remediation date, the fair values of the AROs for these assets cannot be currently estimated. A liability for these AROs will be recorded when fair value is determinable. Removal costs of these EGUs are being recovered in rates and are recorded in regulatory liabilities. | ||||||||||||||||||||||||
In December 2014, the EPA issued the final CCR rule, which regulates CCR as a non-hazardous waste. IPL and WPL have current and former coal-fired EGUs with existing coal ash surface impoundments, as well as active CCR company-owned landfills that are impacted by this rule. Alliant Energy, IPL and WPL are currently evaluating the final rule to determine the full impact of the final CCR rule, including any additional AROs that may need to be recognized in 2015 as a result of this rule. Expenditures incurred by IPL and WPL to comply with the CCR rule are anticipated to be recovered in rates from their customers. Refer to Note 16(e) for further discussion of the final CCR rule. | ||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Schedule of Asset Retirement Obligations [Line Items] | ||||||||||||||||||||||||
Asset Retirement Obligations (AROs) | ASSET RETIREMENT OBLIGATIONS | |||||||||||||||||||||||
Recognized AROs relate to legal obligations for the removal, closure or dismantlement of several assets including, but not limited to, wind projects, certain ash ponds, active ash landfills, certain coal yards and above ground storage tanks. Recognized AROs also include legal obligations for the management and final disposition of asbestos and polychlorinated biphenyls. AROs are recorded in “Other liabilities” on the balance sheets. Refer to Note 2 for information regarding regulatory assets related to AROs. A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Balance, January 1 | $109.70 | $101.50 | $47.90 | $45.50 | $52.40 | $46.90 | ||||||||||||||||||
Revisions in estimated cash flows | — | 5.6 | — | 0.1 | — | 5.5 | ||||||||||||||||||
Liabilities settled | (3.4 | ) | (2.3 | ) | (1.4 | ) | (0.6 | ) | (2.0 | ) | (1.7 | ) | ||||||||||||
Liabilities incurred | 3.7 | 1.2 | 3.5 | 1.2 | 0.2 | — | ||||||||||||||||||
Accretion expense | 4 | 3.7 | 1.8 | 1.7 | 1.8 | 1.7 | ||||||||||||||||||
Balance, December 31 | $114.00 | $109.70 | $51.80 | $47.90 | $52.40 | $52.40 | ||||||||||||||||||
In addition, certain AROs related to EGU assets have not been recognized. Due to an indeterminate remediation date, the fair values of the AROs for these assets cannot be currently estimated. A liability for these AROs will be recorded when fair value is determinable. Removal costs of these EGUs are being recovered in rates and are recorded in regulatory liabilities. | ||||||||||||||||||||||||
In December 2014, the EPA issued the final CCR rule, which regulates CCR as a non-hazardous waste. IPL and WPL have current and former coal-fired EGUs with existing coal ash surface impoundments, as well as active CCR company-owned landfills that are impacted by this rule. Alliant Energy, IPL and WPL are currently evaluating the final rule to determine the full impact of the final CCR rule, including any additional AROs that may need to be recognized in 2015 as a result of this rule. Expenditures incurred by IPL and WPL to comply with the CCR rule are anticipated to be recovered in rates from their customers. Refer to Note 16(e) for further discussion of the final CCR rule. | ||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Schedule of Asset Retirement Obligations [Line Items] | ||||||||||||||||||||||||
Asset Retirement Obligations (AROs) | ASSET RETIREMENT OBLIGATIONS | |||||||||||||||||||||||
Recognized AROs relate to legal obligations for the removal, closure or dismantlement of several assets including, but not limited to, wind projects, certain ash ponds, active ash landfills, certain coal yards and above ground storage tanks. Recognized AROs also include legal obligations for the management and final disposition of asbestos and polychlorinated biphenyls. AROs are recorded in “Other liabilities” on the balance sheets. Refer to Note 2 for information regarding regulatory assets related to AROs. A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): | ||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Balance, January 1 | $109.70 | $101.50 | $47.90 | $45.50 | $52.40 | $46.90 | ||||||||||||||||||
Revisions in estimated cash flows | — | 5.6 | — | 0.1 | — | 5.5 | ||||||||||||||||||
Liabilities settled | (3.4 | ) | (2.3 | ) | (1.4 | ) | (0.6 | ) | (2.0 | ) | (1.7 | ) | ||||||||||||
Liabilities incurred | 3.7 | 1.2 | 3.5 | 1.2 | 0.2 | — | ||||||||||||||||||
Accretion expense | 4 | 3.7 | 1.8 | 1.7 | 1.8 | 1.7 | ||||||||||||||||||
Balance, December 31 | $114.00 | $109.70 | $51.80 | $47.90 | $52.40 | $52.40 | ||||||||||||||||||
In addition, certain AROs related to EGU assets have not been recognized. Due to an indeterminate remediation date, the fair values of the AROs for these assets cannot be currently estimated. A liability for these AROs will be recorded when fair value is determinable. Removal costs of these EGUs are being recovered in rates and are recorded in regulatory liabilities. | ||||||||||||||||||||||||
In December 2014, the EPA issued the final CCR rule, which regulates CCR as a non-hazardous waste. IPL and WPL have current and former coal-fired EGUs with existing coal ash surface impoundments, as well as active CCR company-owned landfills that are impacted by this rule. Alliant Energy, IPL and WPL are currently evaluating the final rule to determine the full impact of the final CCR rule, including any additional AROs that may need to be recognized in 2015 as a result of this rule. Expenditures incurred by IPL and WPL to comply with the CCR rule are anticipated to be recovered in rates from their customers. Refer to Note 16(e) for further discussion of the final CCR rule. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and the related estimated fair values of other financial instruments at December 31 were as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||||||||
Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | $38.60 | $38.60 | $28.00 | $28.00 | $10.60 | $10.60 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 177.2 | 177.2 | 177.2 | 177.2 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,789.70 | 4,418.20 | 1,768.70 | 2,053.00 | 1,573.90 | 1,908.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 200.2 | 200 | 200.2 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 37.6 | 37.6 | 19.5 | 19.5 | 18.1 | 18.1 | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | 26.7 | 26.7 | 21.1 | 21.1 | 5.6 | 5.6 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 203.5 | 203.5 | 203.5 | 203.5 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,336.30 | 3,712.30 | 1,558.40 | 1,726.40 | 1,332.10 | 1,532.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 167 | 200 | 167 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 20.8 | 20.8 | 5.2 | 5.2 | 15.6 | 15.6 | ||||||||||||||||||||||||||
Valuation Hierarchy - Fair value measurement accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy and examples of each are as follows: | ||||||||||||||||||||||||||||||||
Level 1 - Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the reporting date. At each reporting date, Level 1 items included IPL’s 5.1% cumulative preferred stock. | ||||||||||||||||||||||||||||||||
Level 2 - Pricing inputs are quoted prices for similar assets or liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are not active as of the reporting date. At each reporting date, Level 2 items included certain non-exchange traded commodity contracts and substantially all of the long-term debt instruments. | ||||||||||||||||||||||||||||||||
Level 3 - Pricing inputs are unobservable inputs for assets or liabilities for which little or no market data exist and require significant management judgment or estimation. At each reporting date, Level 3 items included FTRs, certain non-exchange traded commodity contracts and IPL’s deferred proceeds. | ||||||||||||||||||||||||||||||||
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. | ||||||||||||||||||||||||||||||||
Valuation Techniques - | ||||||||||||||||||||||||||||||||
Derivative assets and derivative liabilities - Derivative instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs, and risk policies are maintained that govern the use of such derivative instruments. Derivative instruments were not designated as hedging instruments and included the following: | ||||||||||||||||||||||||||||||||
Risk management purpose | Type of instrument | |||||||||||||||||||||||||||||||
Mitigate pricing volatility for: | ||||||||||||||||||||||||||||||||
Electricity purchased to supply customers | Electric swap and physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Fuel used to supply natural gas-fired EGUs | Natural gas swap contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Natural gas options and physical forward contracts (WPL) | ||||||||||||||||||||||||||||||||
Natural gas supplied to retail customers | Natural gas options and physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Natural gas swap contracts (IPL) | ||||||||||||||||||||||||||||||||
Fuel used at coal-fired EGUs | Coal physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Optimize the value of natural gas pipeline capacity | Natural gas physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Natural gas swap contracts (IPL) | ||||||||||||||||||||||||||||||||
Manage transmission congestion costs | FTRs (IPL and WPL) | |||||||||||||||||||||||||||||||
Swap, option and physical forward commodity contracts were non-exchange-based derivative instruments and were valued using indicative price quotations from a pricing vendor that provides daily exchange forward price settlements, from broker or dealer quotations, from market publications or from on-line exchanges. The indicative price quotations reflected the average of the bid-ask mid-point prices and were obtained from sources believed to provide the most liquid market for the commodity. A portion of these indicative price quotations were corroborated using quoted prices for similar assets or liabilities in active markets and categorized derivative instruments based on such indicative price quotations as Level 2. Commodity contracts that were valued using indicative price quotations based on significant assumptions such as seasonal or monthly shaping and indicative price quotations that could not be readily corroborated were categorized as Level 3. Swap, option and physical forward commodity contracts were predominately at liquid trading points. FTRs were valued using monthly or annual auction shadow prices from relevant auctions and were categorized as Level 3. Refer to Note 15 for additional details of derivative assets and derivative liabilities. | ||||||||||||||||||||||||||||||||
The fair value measurements of Level 3 derivative instruments include observable and unobservable inputs. The observable inputs are obtained from third-party pricing sources, counterparties and brokers and include bids, offers, historical transactions (including historical price differences between locations with both observable and unobservable prices) and executed trades. The significant unobservable inputs used in the fair value measurement of commodity contracts are forecasted electricity, natural gas and coal prices, and the expected volatility of such prices. Significant changes in any of those inputs would result in a significantly lower or higher fair value measurement. | ||||||||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) - The fair value of IPL’s deferred proceeds related to its sales of accounts receivable program was calculated each reporting date using the cost approach valuation technique. The fair value represents the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash proceeds received from the receivables sold due to the short-term nature of the collection period. These inputs were considered unobservable and deferred proceeds were categorized as Level 3. Deferred proceeds represent IPL’s maximum exposure to loss related to the receivables sold. Refer to Note 5(b) for additional information regarding deferred proceeds. | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) - The fair value of long-term debt instruments was based on quoted market prices for similar liabilities at each reporting date or on a discounted cash flow methodology, which utilizes assumptions of current market pricing curves at each reporting date. Refer to Note 9(b) for additional information regarding long-term debt. | ||||||||||||||||||||||||||||||||
Cumulative preferred stock - The fair value of IPL’s 5.1% cumulative preferred stock was based on its closing market price quoted by the New York Stock Exchange at each reporting date. Refer to Note 8 for additional information regarding cumulative preferred stock. | ||||||||||||||||||||||||||||||||
Items subject to fair value measurement disclosure requirements at December 31 were as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $38.60 | $— | $2.60 | $36.00 | $26.70 | $— | $4.70 | $22.00 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 4,418.20 | — | 4,414.90 | 3.3 | 3,712.30 | — | 3,711.80 | 0.5 | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 37.6 | — | 19.5 | 18.1 | 20.8 | — | 3.2 | 17.6 | ||||||||||||||||||||||||
IPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $28.00 | $— | $2.40 | $25.60 | $21.10 | $— | $3.00 | $18.10 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 2,053.00 | — | 2,053.00 | — | 1,726.40 | — | 1,726.40 | — | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 19.5 | — | 13.3 | 6.2 | 5.2 | — | 1.7 | 3.5 | ||||||||||||||||||||||||
WPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $10.60 | $— | $0.20 | $10.40 | $5.60 | $— | $1.70 | $3.90 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 1,908.90 | — | 1,908.90 | — | 1,532.90 | — | 1,532.90 | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 18.1 | — | 6.2 | 11.9 | 15.6 | — | 1.5 | 14.1 | ||||||||||||||||||||||||
Unrealized gains and losses from derivative instruments are generally recorded with offsets to regulatory assets or regulatory liabilities, based on fuel and natural gas cost recovery mechanisms, as well as other specific regulatory authorizations. Based on these recovery mechanisms, the changes in the fair value of derivative liabilities resulted in comparable changes to regulatory assets, and the changes in the fair value of derivative assets resulted in comparable changes to regulatory liabilities. | ||||||||||||||||||||||||||||||||
Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $4.40 | $11.90 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 11.1 | (12.7 | ) | — | — | |||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | — | — | ||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 2 | — | — | ||||||||||||||||||||||||||||
Purchases | 76.7 | 50.9 | — | — | ||||||||||||||||||||||||||||
Sales | (2.2 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (72.1 | ) | (47.8 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $17.90 | $4.40 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($0.4 | ) | ($12.7 | ) | $— | $— | ||||||||||||||||||||||||||
IPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $14.60 | $12.50 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net losses (realized/unrealized) included in changes in net assets | (5.9 | ) | (4.6 | ) | — | — | ||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | — | — | ||||||||||||||||||||||||||||
Purchases | 68.8 | 46.1 | — | — | ||||||||||||||||||||||||||||
Sales | (2.0 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (56.1 | ) | (40.4 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $19.40 | $14.60 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($9.3 | ) | ($4.6 | ) | $— | $— | ||||||||||||||||||||||||||
WPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Beginning balance, January 1 | ($10.2 | ) | ($0.6 | ) | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 17 | (8.1 | ) | |||||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | ||||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | ||||||||||||||||||||||||||||||
Purchases | 7.9 | 4.8 | ||||||||||||||||||||||||||||||
Sales | (0.2 | ) | — | |||||||||||||||||||||||||||||
Settlements | (16.0 | ) | (7.4 | ) | ||||||||||||||||||||||||||||
Ending balance, December 31 | ($1.5 | ) | ($10.2 | ) | ||||||||||||||||||||||||||||
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 | $8.90 | ($8.1 | ) | |||||||||||||||||||||||||||||
(a) | Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(b) | Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(c) | 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 proceeds received from the receivables sold. | |||||||||||||||||||||||||||||||
Commodity Contracts - The fair value of electric, natural gas and coal commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) at December 31 as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Excluding FTRs | FTRs | Excluding FTRs | FTRs | Excluding FTRs | FTRs | |||||||||||||||||||||||||||
2014 | ($7.0 | ) | $24.90 | ($3.2 | ) | $22.60 | ($3.8 | ) | $2.30 | |||||||||||||||||||||||
2013 | (13.9 | ) | 18.3 | (2.1 | ) | 16.7 | (11.8 | ) | 1.6 | |||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and the related estimated fair values of other financial instruments at December 31 were as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||||||||
Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | $38.60 | $38.60 | $28.00 | $28.00 | $10.60 | $10.60 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 177.2 | 177.2 | 177.2 | 177.2 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,789.70 | 4,418.20 | 1,768.70 | 2,053.00 | 1,573.90 | 1,908.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 200.2 | 200 | 200.2 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 37.6 | 37.6 | 19.5 | 19.5 | 18.1 | 18.1 | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | 26.7 | 26.7 | 21.1 | 21.1 | 5.6 | 5.6 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 203.5 | 203.5 | 203.5 | 203.5 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,336.30 | 3,712.30 | 1,558.40 | 1,726.40 | 1,332.10 | 1,532.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 167 | 200 | 167 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 20.8 | 20.8 | 5.2 | 5.2 | 15.6 | 15.6 | ||||||||||||||||||||||||||
Valuation Hierarchy - Fair value measurement accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy and examples of each are as follows: | ||||||||||||||||||||||||||||||||
Level 1 - Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the reporting date. At each reporting date, Level 1 items included IPL’s 5.1% cumulative preferred stock. | ||||||||||||||||||||||||||||||||
Level 2 - Pricing inputs are quoted prices for similar assets or liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are not active as of the reporting date. At each reporting date, Level 2 items included certain non-exchange traded commodity contracts and substantially all of the long-term debt instruments. | ||||||||||||||||||||||||||||||||
Level 3 - Pricing inputs are unobservable inputs for assets or liabilities for which little or no market data exist and require significant management judgment or estimation. At each reporting date, Level 3 items included FTRs, certain non-exchange traded commodity contracts and IPL’s deferred proceeds. | ||||||||||||||||||||||||||||||||
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. | ||||||||||||||||||||||||||||||||
Valuation Techniques - | ||||||||||||||||||||||||||||||||
Derivative assets and derivative liabilities - Derivative instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs, and risk policies are maintained that govern the use of such derivative instruments. Derivative instruments were not designated as hedging instruments and included the following: | ||||||||||||||||||||||||||||||||
Risk management purpose | Type of instrument | |||||||||||||||||||||||||||||||
Mitigate pricing volatility for: | ||||||||||||||||||||||||||||||||
Electricity purchased to supply customers | Electric swap and physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Fuel used to supply natural gas-fired EGUs | Natural gas swap contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Natural gas options and physical forward contracts (WPL) | ||||||||||||||||||||||||||||||||
Natural gas supplied to retail customers | Natural gas options and physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Natural gas swap contracts (IPL) | ||||||||||||||||||||||||||||||||
Fuel used at coal-fired EGUs | Coal physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Optimize the value of natural gas pipeline capacity | Natural gas physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Natural gas swap contracts (IPL) | ||||||||||||||||||||||||||||||||
Manage transmission congestion costs | FTRs (IPL and WPL) | |||||||||||||||||||||||||||||||
Swap, option and physical forward commodity contracts were non-exchange-based derivative instruments and were valued using indicative price quotations from a pricing vendor that provides daily exchange forward price settlements, from broker or dealer quotations, from market publications or from on-line exchanges. The indicative price quotations reflected the average of the bid-ask mid-point prices and were obtained from sources believed to provide the most liquid market for the commodity. A portion of these indicative price quotations were corroborated using quoted prices for similar assets or liabilities in active markets and categorized derivative instruments based on such indicative price quotations as Level 2. Commodity contracts that were valued using indicative price quotations based on significant assumptions such as seasonal or monthly shaping and indicative price quotations that could not be readily corroborated were categorized as Level 3. Swap, option and physical forward commodity contracts were predominately at liquid trading points. FTRs were valued using monthly or annual auction shadow prices from relevant auctions and were categorized as Level 3. Refer to Note 15 for additional details of derivative assets and derivative liabilities. | ||||||||||||||||||||||||||||||||
The fair value measurements of Level 3 derivative instruments include observable and unobservable inputs. The observable inputs are obtained from third-party pricing sources, counterparties and brokers and include bids, offers, historical transactions (including historical price differences between locations with both observable and unobservable prices) and executed trades. The significant unobservable inputs used in the fair value measurement of commodity contracts are forecasted electricity, natural gas and coal prices, and the expected volatility of such prices. Significant changes in any of those inputs would result in a significantly lower or higher fair value measurement. | ||||||||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) - The fair value of IPL’s deferred proceeds related to its sales of accounts receivable program was calculated each reporting date using the cost approach valuation technique. The fair value represents the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash proceeds received from the receivables sold due to the short-term nature of the collection period. These inputs were considered unobservable and deferred proceeds were categorized as Level 3. Deferred proceeds represent IPL’s maximum exposure to loss related to the receivables sold. Refer to Note 5(b) for additional information regarding deferred proceeds. | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) - The fair value of long-term debt instruments was based on quoted market prices for similar liabilities at each reporting date or on a discounted cash flow methodology, which utilizes assumptions of current market pricing curves at each reporting date. Refer to Note 9(b) for additional information regarding long-term debt. | ||||||||||||||||||||||||||||||||
Cumulative preferred stock - The fair value of IPL’s 5.1% cumulative preferred stock was based on its closing market price quoted by the New York Stock Exchange at each reporting date. Refer to Note 8 for additional information regarding cumulative preferred stock. | ||||||||||||||||||||||||||||||||
Items subject to fair value measurement disclosure requirements at December 31 were as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $38.60 | $— | $2.60 | $36.00 | $26.70 | $— | $4.70 | $22.00 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 4,418.20 | — | 4,414.90 | 3.3 | 3,712.30 | — | 3,711.80 | 0.5 | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 37.6 | — | 19.5 | 18.1 | 20.8 | — | 3.2 | 17.6 | ||||||||||||||||||||||||
IPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $28.00 | $— | $2.40 | $25.60 | $21.10 | $— | $3.00 | $18.10 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 2,053.00 | — | 2,053.00 | — | 1,726.40 | — | 1,726.40 | — | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 19.5 | — | 13.3 | 6.2 | 5.2 | — | 1.7 | 3.5 | ||||||||||||||||||||||||
WPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $10.60 | $— | $0.20 | $10.40 | $5.60 | $— | $1.70 | $3.90 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 1,908.90 | — | 1,908.90 | — | 1,532.90 | — | 1,532.90 | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 18.1 | — | 6.2 | 11.9 | 15.6 | — | 1.5 | 14.1 | ||||||||||||||||||||||||
Unrealized gains and losses from derivative instruments are generally recorded with offsets to regulatory assets or regulatory liabilities, based on fuel and natural gas cost recovery mechanisms, as well as other specific regulatory authorizations. Based on these recovery mechanisms, the changes in the fair value of derivative liabilities resulted in comparable changes to regulatory assets, and the changes in the fair value of derivative assets resulted in comparable changes to regulatory liabilities. | ||||||||||||||||||||||||||||||||
Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $4.40 | $11.90 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 11.1 | (12.7 | ) | — | — | |||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | — | — | ||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 2 | — | — | ||||||||||||||||||||||||||||
Purchases | 76.7 | 50.9 | — | — | ||||||||||||||||||||||||||||
Sales | (2.2 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (72.1 | ) | (47.8 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $17.90 | $4.40 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($0.4 | ) | ($12.7 | ) | $— | $— | ||||||||||||||||||||||||||
IPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $14.60 | $12.50 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net losses (realized/unrealized) included in changes in net assets | (5.9 | ) | (4.6 | ) | — | — | ||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | — | — | ||||||||||||||||||||||||||||
Purchases | 68.8 | 46.1 | — | — | ||||||||||||||||||||||||||||
Sales | (2.0 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (56.1 | ) | (40.4 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $19.40 | $14.60 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($9.3 | ) | ($4.6 | ) | $— | $— | ||||||||||||||||||||||||||
WPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Beginning balance, January 1 | ($10.2 | ) | ($0.6 | ) | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 17 | (8.1 | ) | |||||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | ||||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | ||||||||||||||||||||||||||||||
Purchases | 7.9 | 4.8 | ||||||||||||||||||||||||||||||
Sales | (0.2 | ) | — | |||||||||||||||||||||||||||||
Settlements | (16.0 | ) | (7.4 | ) | ||||||||||||||||||||||||||||
Ending balance, December 31 | ($1.5 | ) | ($10.2 | ) | ||||||||||||||||||||||||||||
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 | $8.90 | ($8.1 | ) | |||||||||||||||||||||||||||||
(a) | Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(b) | Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(c) | 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 proceeds received from the receivables sold. | |||||||||||||||||||||||||||||||
Commodity Contracts - The fair value of electric, natural gas and coal commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) at December 31 as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Excluding FTRs | FTRs | Excluding FTRs | FTRs | Excluding FTRs | FTRs | |||||||||||||||||||||||||||
2014 | ($7.0 | ) | $24.90 | ($3.2 | ) | $22.60 | ($3.8 | ) | $2.30 | |||||||||||||||||||||||
2013 | (13.9 | ) | 18.3 | (2.1 | ) | 16.7 | (11.8 | ) | 1.6 | |||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and the related estimated fair values of other financial instruments at December 31 were as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||||||||
Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | $38.60 | $38.60 | $28.00 | $28.00 | $10.60 | $10.60 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 177.2 | 177.2 | 177.2 | 177.2 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,789.70 | 4,418.20 | 1,768.70 | 2,053.00 | 1,573.90 | 1,908.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 200.2 | 200 | 200.2 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 37.6 | 37.6 | 19.5 | 19.5 | 18.1 | 18.1 | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | 26.7 | 26.7 | 21.1 | 21.1 | 5.6 | 5.6 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 203.5 | 203.5 | 203.5 | 203.5 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,336.30 | 3,712.30 | 1,558.40 | 1,726.40 | 1,332.10 | 1,532.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 167 | 200 | 167 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 20.8 | 20.8 | 5.2 | 5.2 | 15.6 | 15.6 | ||||||||||||||||||||||||||
Valuation Hierarchy - Fair value measurement accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy and examples of each are as follows: | ||||||||||||||||||||||||||||||||
Level 1 - Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the reporting date. At each reporting date, Level 1 items included IPL’s 5.1% cumulative preferred stock. | ||||||||||||||||||||||||||||||||
Level 2 - Pricing inputs are quoted prices for similar assets or liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are not active as of the reporting date. At each reporting date, Level 2 items included certain non-exchange traded commodity contracts and substantially all of the long-term debt instruments. | ||||||||||||||||||||||||||||||||
Level 3 - Pricing inputs are unobservable inputs for assets or liabilities for which little or no market data exist and require significant management judgment or estimation. At each reporting date, Level 3 items included FTRs, certain non-exchange traded commodity contracts and IPL’s deferred proceeds. | ||||||||||||||||||||||||||||||||
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. | ||||||||||||||||||||||||||||||||
Valuation Techniques - | ||||||||||||||||||||||||||||||||
Derivative assets and derivative liabilities - Derivative instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs, and risk policies are maintained that govern the use of such derivative instruments. Derivative instruments were not designated as hedging instruments and included the following: | ||||||||||||||||||||||||||||||||
Risk management purpose | Type of instrument | |||||||||||||||||||||||||||||||
Mitigate pricing volatility for: | ||||||||||||||||||||||||||||||||
Electricity purchased to supply customers | Electric swap and physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Fuel used to supply natural gas-fired EGUs | Natural gas swap contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Natural gas options and physical forward contracts (WPL) | ||||||||||||||||||||||||||||||||
Natural gas supplied to retail customers | Natural gas options and physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Natural gas swap contracts (IPL) | ||||||||||||||||||||||||||||||||
Fuel used at coal-fired EGUs | Coal physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Optimize the value of natural gas pipeline capacity | Natural gas physical forward contracts (IPL and WPL) | |||||||||||||||||||||||||||||||
Natural gas swap contracts (IPL) | ||||||||||||||||||||||||||||||||
Manage transmission congestion costs | FTRs (IPL and WPL) | |||||||||||||||||||||||||||||||
Swap, option and physical forward commodity contracts were non-exchange-based derivative instruments and were valued using indicative price quotations from a pricing vendor that provides daily exchange forward price settlements, from broker or dealer quotations, from market publications or from on-line exchanges. The indicative price quotations reflected the average of the bid-ask mid-point prices and were obtained from sources believed to provide the most liquid market for the commodity. A portion of these indicative price quotations were corroborated using quoted prices for similar assets or liabilities in active markets and categorized derivative instruments based on such indicative price quotations as Level 2. Commodity contracts that were valued using indicative price quotations based on significant assumptions such as seasonal or monthly shaping and indicative price quotations that could not be readily corroborated were categorized as Level 3. Swap, option and physical forward commodity contracts were predominately at liquid trading points. FTRs were valued using monthly or annual auction shadow prices from relevant auctions and were categorized as Level 3. Refer to Note 15 for additional details of derivative assets and derivative liabilities. | ||||||||||||||||||||||||||||||||
The fair value measurements of Level 3 derivative instruments include observable and unobservable inputs. The observable inputs are obtained from third-party pricing sources, counterparties and brokers and include bids, offers, historical transactions (including historical price differences between locations with both observable and unobservable prices) and executed trades. The significant unobservable inputs used in the fair value measurement of commodity contracts are forecasted electricity, natural gas and coal prices, and the expected volatility of such prices. Significant changes in any of those inputs would result in a significantly lower or higher fair value measurement. | ||||||||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) - The fair value of IPL’s deferred proceeds related to its sales of accounts receivable program was calculated each reporting date using the cost approach valuation technique. The fair value represents the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash proceeds received from the receivables sold due to the short-term nature of the collection period. These inputs were considered unobservable and deferred proceeds were categorized as Level 3. Deferred proceeds represent IPL’s maximum exposure to loss related to the receivables sold. Refer to Note 5(b) for additional information regarding deferred proceeds. | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) - The fair value of long-term debt instruments was based on quoted market prices for similar liabilities at each reporting date or on a discounted cash flow methodology, which utilizes assumptions of current market pricing curves at each reporting date. Refer to Note 9(b) for additional information regarding long-term debt. | ||||||||||||||||||||||||||||||||
Cumulative preferred stock - The fair value of IPL’s 5.1% cumulative preferred stock was based on its closing market price quoted by the New York Stock Exchange at each reporting date. Refer to Note 8 for additional information regarding cumulative preferred stock. | ||||||||||||||||||||||||||||||||
Items subject to fair value measurement disclosure requirements at December 31 were as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $38.60 | $— | $2.60 | $36.00 | $26.70 | $— | $4.70 | $22.00 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 4,418.20 | — | 4,414.90 | 3.3 | 3,712.30 | — | 3,711.80 | 0.5 | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 37.6 | — | 19.5 | 18.1 | 20.8 | — | 3.2 | 17.6 | ||||||||||||||||||||||||
IPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $28.00 | $— | $2.40 | $25.60 | $21.10 | $— | $3.00 | $18.10 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 2,053.00 | — | 2,053.00 | — | 1,726.40 | — | 1,726.40 | — | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 19.5 | — | 13.3 | 6.2 | 5.2 | — | 1.7 | 3.5 | ||||||||||||||||||||||||
WPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $10.60 | $— | $0.20 | $10.40 | $5.60 | $— | $1.70 | $3.90 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 1,908.90 | — | 1,908.90 | — | 1,532.90 | — | 1,532.90 | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 18.1 | — | 6.2 | 11.9 | 15.6 | — | 1.5 | 14.1 | ||||||||||||||||||||||||
Unrealized gains and losses from derivative instruments are generally recorded with offsets to regulatory assets or regulatory liabilities, based on fuel and natural gas cost recovery mechanisms, as well as other specific regulatory authorizations. Based on these recovery mechanisms, the changes in the fair value of derivative liabilities resulted in comparable changes to regulatory assets, and the changes in the fair value of derivative assets resulted in comparable changes to regulatory liabilities. | ||||||||||||||||||||||||||||||||
Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $4.40 | $11.90 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 11.1 | (12.7 | ) | — | — | |||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | — | — | ||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 2 | — | — | ||||||||||||||||||||||||||||
Purchases | 76.7 | 50.9 | — | — | ||||||||||||||||||||||||||||
Sales | (2.2 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (72.1 | ) | (47.8 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $17.90 | $4.40 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($0.4 | ) | ($12.7 | ) | $— | $— | ||||||||||||||||||||||||||
IPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $14.60 | $12.50 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net losses (realized/unrealized) included in changes in net assets | (5.9 | ) | (4.6 | ) | — | — | ||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | — | — | ||||||||||||||||||||||||||||
Purchases | 68.8 | 46.1 | — | — | ||||||||||||||||||||||||||||
Sales | (2.0 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (56.1 | ) | (40.4 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $19.40 | $14.60 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($9.3 | ) | ($4.6 | ) | $— | $— | ||||||||||||||||||||||||||
WPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Beginning balance, January 1 | ($10.2 | ) | ($0.6 | ) | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 17 | (8.1 | ) | |||||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | ||||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | ||||||||||||||||||||||||||||||
Purchases | 7.9 | 4.8 | ||||||||||||||||||||||||||||||
Sales | (0.2 | ) | — | |||||||||||||||||||||||||||||
Settlements | (16.0 | ) | (7.4 | ) | ||||||||||||||||||||||||||||
Ending balance, December 31 | ($1.5 | ) | ($10.2 | ) | ||||||||||||||||||||||||||||
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 | $8.90 | ($8.1 | ) | |||||||||||||||||||||||||||||
(a) | Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(b) | Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(c) | 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 proceeds received from the receivables sold. | |||||||||||||||||||||||||||||||
Commodity Contracts - The fair value of electric, natural gas and coal commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) at December 31 as follows (in millions): | ||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Excluding FTRs | FTRs | Excluding FTRs | FTRs | Excluding FTRs | FTRs | |||||||||||||||||||||||||||
2014 | ($7.0 | ) | $24.90 | ($3.2 | ) | $22.60 | ($3.8 | ) | $2.30 | |||||||||||||||||||||||
2013 | (13.9 | ) | 18.3 | (2.1 | ) | 16.7 | (11.8 | ) | 1.6 | |||||||||||||||||||||||
Derivative_Instruments
Derivative Instruments | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||
Derivative Instruments | DERIVATIVE INSTRUMENTS | |||||||||||||||||||||||||||||||||||
Commodity Derivatives - | ||||||||||||||||||||||||||||||||||||
Purpose - Derivative instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. Refer to Note 14 for detailed discussion of derivative instruments. | ||||||||||||||||||||||||||||||||||||
Notional Amounts - As of December 31, 2014, gross notional amounts by delivery year related to outstanding swap contracts, option contracts, physical forward contracts, FTRs and coal contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): | ||||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 4,067 | 1,553 | 1,314 | 1,314 | 8,248 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 9,505 | — | — | — | 9,505 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 56,250 | 20,225 | 1,829 | — | 78,304 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,490 | 1,899 | 1,073 | 1,113 | 5,575 | |||||||||||||||||||||||||||||||
IPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 1,765 | — | — | — | 1,765 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 5,503 | — | — | — | 5,503 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 39,727 | 10,178 | 1,014 | — | 50,919 | |||||||||||||||||||||||||||||||
Coal (tons) | 75 | 830 | 274 | 387 | 1,566 | |||||||||||||||||||||||||||||||
WPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 2,302 | 1,553 | 1,314 | 1,314 | 6,483 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 4,002 | — | — | — | 4,002 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 16,523 | 10,047 | 815 | — | 27,385 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,415 | 1,069 | 799 | 726 | 4,009 | |||||||||||||||||||||||||||||||
Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheet as assets or liabilities. At December 31, the fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other liabilities” on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Commodity contracts | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||
Current derivative assets | $30.50 | $25.60 | $27.40 | $20.20 | $3.10 | $5.40 | ||||||||||||||||||||||||||||||
Non-current derivative assets | 8.1 | 1.1 | 0.6 | 0.9 | 7.5 | 0.2 | ||||||||||||||||||||||||||||||
Current derivative liabilities | 28.1 | 6.7 | 16.4 | 3 | 11.7 | 3.7 | ||||||||||||||||||||||||||||||
Non-current derivative liabilities | 9.5 | 14.1 | 3.1 | 2.2 | 6.4 | 11.9 | ||||||||||||||||||||||||||||||
Changes in unrealized gains (losses) from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Regulatory assets | ($13.8 | ) | ($14.7 | ) | ($37.9 | ) | ($5.8 | ) | ($6.6 | ) | ($16.8 | ) | ($8.0 | ) | ($8.1 | ) | ($21.1 | ) | ||||||||||||||||||
Regulatory liabilities | 37.4 | 22.2 | 20.3 | 10.2 | 11.8 | 13.5 | 27.2 | 10.4 | 6.8 | |||||||||||||||||||||||||||
Net unrealized gains (losses) from commodity contracts during 2014, 2013 and 2012 were primarily due to changes in electricity and natural gas prices during such periods. | ||||||||||||||||||||||||||||||||||||
Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At December 31, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position, as well as amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered, were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||||||||||||||
Aggregate fair value | $37.60 | $19.50 | $18.10 | $20.80 | $5.20 | $15.60 | ||||||||||||||||||||||||||||||
Credit support to be posted if triggered | 37.4 | 19.5 | 17.9 | 20.8 | 5.2 | 15.6 | ||||||||||||||||||||||||||||||
Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets at December 31 as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||||||||||||||||||
(as reported) | Net | (as reported) | Net | (as reported) | Net | |||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||||||
Derivative assets | $38.60 | $33.00 | $28.00 | $24.70 | $10.60 | $8.30 | ||||||||||||||||||||||||||||||
Derivative liabilities | 37.6 | 32 | 19.5 | 16.2 | 18.1 | 15.8 | ||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Derivative assets | 26.7 | 23.5 | 21.1 | 19.5 | 5.6 | 4 | ||||||||||||||||||||||||||||||
Derivative liabilities | 20.8 | 17.6 | 5.2 | 3.6 | 15.6 | 14 | ||||||||||||||||||||||||||||||
Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. | ||||||||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||
Derivative Instruments | DERIVATIVE INSTRUMENTS | |||||||||||||||||||||||||||||||||||
Commodity Derivatives - | ||||||||||||||||||||||||||||||||||||
Purpose - Derivative instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. Refer to Note 14 for detailed discussion of derivative instruments. | ||||||||||||||||||||||||||||||||||||
Notional Amounts - As of December 31, 2014, gross notional amounts by delivery year related to outstanding swap contracts, option contracts, physical forward contracts, FTRs and coal contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): | ||||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 4,067 | 1,553 | 1,314 | 1,314 | 8,248 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 9,505 | — | — | — | 9,505 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 56,250 | 20,225 | 1,829 | — | 78,304 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,490 | 1,899 | 1,073 | 1,113 | 5,575 | |||||||||||||||||||||||||||||||
IPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 1,765 | — | — | — | 1,765 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 5,503 | — | — | — | 5,503 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 39,727 | 10,178 | 1,014 | — | 50,919 | |||||||||||||||||||||||||||||||
Coal (tons) | 75 | 830 | 274 | 387 | 1,566 | |||||||||||||||||||||||||||||||
WPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 2,302 | 1,553 | 1,314 | 1,314 | 6,483 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 4,002 | — | — | — | 4,002 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 16,523 | 10,047 | 815 | — | 27,385 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,415 | 1,069 | 799 | 726 | 4,009 | |||||||||||||||||||||||||||||||
Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheet as assets or liabilities. At December 31, the fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other liabilities” on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Commodity contracts | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||
Current derivative assets | $30.50 | $25.60 | $27.40 | $20.20 | $3.10 | $5.40 | ||||||||||||||||||||||||||||||
Non-current derivative assets | 8.1 | 1.1 | 0.6 | 0.9 | 7.5 | 0.2 | ||||||||||||||||||||||||||||||
Current derivative liabilities | 28.1 | 6.7 | 16.4 | 3 | 11.7 | 3.7 | ||||||||||||||||||||||||||||||
Non-current derivative liabilities | 9.5 | 14.1 | 3.1 | 2.2 | 6.4 | 11.9 | ||||||||||||||||||||||||||||||
Changes in unrealized gains (losses) from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Regulatory assets | ($13.8 | ) | ($14.7 | ) | ($37.9 | ) | ($5.8 | ) | ($6.6 | ) | ($16.8 | ) | ($8.0 | ) | ($8.1 | ) | ($21.1 | ) | ||||||||||||||||||
Regulatory liabilities | 37.4 | 22.2 | 20.3 | 10.2 | 11.8 | 13.5 | 27.2 | 10.4 | 6.8 | |||||||||||||||||||||||||||
Net unrealized gains (losses) from commodity contracts during 2014, 2013 and 2012 were primarily due to changes in electricity and natural gas prices during such periods. | ||||||||||||||||||||||||||||||||||||
Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At December 31, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position, as well as amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered, were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||||||||||||||
Aggregate fair value | $37.60 | $19.50 | $18.10 | $20.80 | $5.20 | $15.60 | ||||||||||||||||||||||||||||||
Credit support to be posted if triggered | 37.4 | 19.5 | 17.9 | 20.8 | 5.2 | 15.6 | ||||||||||||||||||||||||||||||
Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets at December 31 as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||||||||||||||||||
(as reported) | Net | (as reported) | Net | (as reported) | Net | |||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||||||
Derivative assets | $38.60 | $33.00 | $28.00 | $24.70 | $10.60 | $8.30 | ||||||||||||||||||||||||||||||
Derivative liabilities | 37.6 | 32 | 19.5 | 16.2 | 18.1 | 15.8 | ||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Derivative assets | 26.7 | 23.5 | 21.1 | 19.5 | 5.6 | 4 | ||||||||||||||||||||||||||||||
Derivative liabilities | 20.8 | 17.6 | 5.2 | 3.6 | 15.6 | 14 | ||||||||||||||||||||||||||||||
Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. | ||||||||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||
Derivative Instruments | DERIVATIVE INSTRUMENTS | |||||||||||||||||||||||||||||||||||
Commodity Derivatives - | ||||||||||||||||||||||||||||||||||||
Purpose - Derivative instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. Refer to Note 14 for detailed discussion of derivative instruments. | ||||||||||||||||||||||||||||||||||||
Notional Amounts - As of December 31, 2014, gross notional amounts by delivery year related to outstanding swap contracts, option contracts, physical forward contracts, FTRs and coal contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): | ||||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 4,067 | 1,553 | 1,314 | 1,314 | 8,248 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 9,505 | — | — | — | 9,505 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 56,250 | 20,225 | 1,829 | — | 78,304 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,490 | 1,899 | 1,073 | 1,113 | 5,575 | |||||||||||||||||||||||||||||||
IPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 1,765 | — | — | — | 1,765 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 5,503 | — | — | — | 5,503 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 39,727 | 10,178 | 1,014 | — | 50,919 | |||||||||||||||||||||||||||||||
Coal (tons) | 75 | 830 | 274 | 387 | 1,566 | |||||||||||||||||||||||||||||||
WPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 2,302 | 1,553 | 1,314 | 1,314 | 6,483 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 4,002 | — | — | — | 4,002 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 16,523 | 10,047 | 815 | — | 27,385 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,415 | 1,069 | 799 | 726 | 4,009 | |||||||||||||||||||||||||||||||
Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheet as assets or liabilities. At December 31, the fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other liabilities” on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Commodity contracts | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||
Current derivative assets | $30.50 | $25.60 | $27.40 | $20.20 | $3.10 | $5.40 | ||||||||||||||||||||||||||||||
Non-current derivative assets | 8.1 | 1.1 | 0.6 | 0.9 | 7.5 | 0.2 | ||||||||||||||||||||||||||||||
Current derivative liabilities | 28.1 | 6.7 | 16.4 | 3 | 11.7 | 3.7 | ||||||||||||||||||||||||||||||
Non-current derivative liabilities | 9.5 | 14.1 | 3.1 | 2.2 | 6.4 | 11.9 | ||||||||||||||||||||||||||||||
Changes in unrealized gains (losses) from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Regulatory assets | ($13.8 | ) | ($14.7 | ) | ($37.9 | ) | ($5.8 | ) | ($6.6 | ) | ($16.8 | ) | ($8.0 | ) | ($8.1 | ) | ($21.1 | ) | ||||||||||||||||||
Regulatory liabilities | 37.4 | 22.2 | 20.3 | 10.2 | 11.8 | 13.5 | 27.2 | 10.4 | 6.8 | |||||||||||||||||||||||||||
Net unrealized gains (losses) from commodity contracts during 2014, 2013 and 2012 were primarily due to changes in electricity and natural gas prices during such periods. | ||||||||||||||||||||||||||||||||||||
Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At December 31, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position, as well as amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered, were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||||||||||||||
Aggregate fair value | $37.60 | $19.50 | $18.10 | $20.80 | $5.20 | $15.60 | ||||||||||||||||||||||||||||||
Credit support to be posted if triggered | 37.4 | 19.5 | 17.9 | 20.8 | 5.2 | 15.6 | ||||||||||||||||||||||||||||||
Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets at December 31 as follows (in millions): | ||||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||||||||||||||||||
(as reported) | Net | (as reported) | Net | (as reported) | Net | |||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||||||
Derivative assets | $38.60 | $33.00 | $28.00 | $24.70 | $10.60 | $8.30 | ||||||||||||||||||||||||||||||
Derivative liabilities | 37.6 | 32 | 19.5 | 16.2 | 18.1 | 15.8 | ||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Derivative assets | 26.7 | 23.5 | 21.1 | 19.5 | 5.6 | 4 | ||||||||||||||||||||||||||||||
Derivative liabilities | 20.8 | 17.6 | 5.2 | 3.6 | 15.6 | 14 | ||||||||||||||||||||||||||||||
Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES | |||||||||||||||||||||||||||
(a) Capital Purchase Obligations - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects. IPL’s projects include the construction of Marshalltown and the installation of a scrubber at Lansing Unit 4 to reduce SO2 emissions. WPL’s projects include the installation of a scrubber and baghouse at Edgewater Unit 5 to reduce SO2 and mercury emissions, and generation maintenance and performance improvements at Columbia Units 1 and 2. At December 31, 2014, Alliant Energy’s, IPL’s and WPL’s minimum future commitments related to certain contractual obligations for these projects were $25 million, $6 million and $19 million, respectively. | ||||||||||||||||||||||||||||
(b) Operating Expense Purchase Obligations - Various commodity supply, transportation and storage contracts meet obligations to provide electricity and natural gas to utility customers. Other operating expense purchase obligations with various vendors provide other goods and services. At December 31, 2014, minimum future commitments related to these operating expense purchase obligations were as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (IPL) (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | 74 | 46 | 44 | 44 | — | — | 208 | |||||||||||||||||||||
193 | 171 | 182 | 175 | 143 | 882 | 1,746 | ||||||||||||||||||||||
Natural gas | 175 | 69 | 23 | 5 | 2 | 4 | 278 | |||||||||||||||||||||
Coal (c) | 124 | 78 | 47 | 34 | 8 | — | 291 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 10 | 1 | — | — | — | — | 11 | |||||||||||||||||||||
$514 | $333 | $260 | $214 | $153 | $886 | $2,360 | ||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | — | 1 | — | — | — | — | 1 | |||||||||||||||||||||
119 | 126 | 138 | 131 | 143 | 882 | 1,539 | ||||||||||||||||||||||
Natural gas | 108 | 32 | 5 | 2 | 2 | 4 | 153 | |||||||||||||||||||||
Coal (c) | 61 | 35 | 20 | 11 | — | — | 127 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 6 | — | — | — | — | — | 6 | |||||||||||||||||||||
$306 | $207 | $171 | $144 | $145 | $886 | $1,859 | ||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a) | $74 | $45 | $44 | $44 | $— | $— | $207 | |||||||||||||||||||||
Natural gas | 67 | 37 | 18 | 3 | — | — | 125 | |||||||||||||||||||||
Coal (c) | 63 | 43 | 27 | 23 | 8 | — | 164 | |||||||||||||||||||||
Other (e) | 2 | 1 | — | — | — | — | 3 | |||||||||||||||||||||
$206 | $126 | $89 | $70 | $8 | $— | $499 | ||||||||||||||||||||||
(a) | Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Refer to Note 18 for additional information on purchased power transactions. | |||||||||||||||||||||||||||
(b) | Includes commitments incurred under a PPA, which grants IPL rights to purchase up to 431 MWs of capacity and the resulting energy from DAEC for a term through December 31, 2025. If energy delivered is less than the targeted energy amount, an adjustment payment will be made to IPL, which will be reflected in IPL’s fuel adjustment clause. | |||||||||||||||||||||||||||
(c) | 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, 2014 regarding expected future usage, which is subject to change. | |||||||||||||||||||||||||||
(d) | Refer to Note 2 for discussion of $34 million of charges recognized by Alliant Energy and IPL in 2011 for forward contracts to purchase SO2 emission allowances. | |||||||||||||||||||||||||||
(e) | Includes individual commitments incurred during the normal course of business that exceeded $1 million at December 31, 2014. | |||||||||||||||||||||||||||
Certain contracts are considered leases and are therefore not included here, but are included in Note 10. | ||||||||||||||||||||||||||||
(c) Legal Proceedings - | ||||||||||||||||||||||||||||
Flood Damage Claims - In June 2013, several plaintiffs purporting to represent a class of residential and commercial property owners filed a complaint against CRANDIC, Alliant Energy and various other defendants in the Iowa District Court for Linn County. Plaintiffs assert claims of negligence and strict liability based on their allegations that CRANDIC (along with other defendants) caused or exacerbated flooding of the Cedar River in June 2008. In July 2013, the case was removed from state court to federal court based on federal jurisdiction. In September 2013, the U.S. District Court for the Northern District of Iowa dismissed the Plaintiffs’ claims and transferred the case for resolution to the Surface Transportation Board, the administrative agency that oversees the Interstate Commerce Commission Termination Act. In October 2013, the Plaintiffs appealed the federal court’s dismissal of the case to the Eighth Circuit Court of Appeals. Alliant Energy and CRANDIC believe the case is without merit and will continue to vigorously contest the case. As a result, Alliant Energy does not currently believe any material losses from these claims are both probable and reasonably estimated, and therefore, has not recognized any material loss contingency amounts for this complaint as of December 31, 2014. Due to the early stages of the claim and the lack of specific damages identified, Alliant Energy is currently unable to provide an estimate of potential loss or range of potential loss. | ||||||||||||||||||||||||||||
Other - Alliant Energy, IPL and WPL are involved in other legal and administrative proceedings before various courts and agencies with respect to matters arising in the ordinary course of business. Although unable to predict the outcome of these matters, Alliant Energy, IPL and WPL believe that appropriate reserves have been established and final disposition of these actions will not have a material effect on their financial condition or results of operations. | ||||||||||||||||||||||||||||
(d) Guarantees and Indemnifications - | ||||||||||||||||||||||||||||
RMT - In 2013, Alliant Energy sold RMT. RMT provided renewable energy services, including construction and high voltage connection services for wind and solar projects. As part of the sale, Alliant Energy indemnified the buyer for any claims, including claims of warranty under the project obligations that were commenced or are based on actions that occurred prior to the sale, except for liabilities already accounted for through adjustments to the purchase price. The indemnification obligations either cease to exist when the statute of limitation for such claims is met or, in the case of RMT’s projects, when the warranty period under the agreements expires. The warranty periods for RMT’s projects generally range from 12 to 60 months with the latest expiring in 2016. | ||||||||||||||||||||||||||||
Alliant Energy also continues to guarantee RMT’s performance obligations related to certain of RMT’s projects that were commenced prior to Alliant Energy’s sale of RMT. As of December 31, 2014, Alliant Energy had $251 million of performance guarantees outstanding with $128 million, $48 million and $75 million currently expected to expire in 2015, 2016 and 2017, respectively. The expiration of these performance guarantees may be extended depending on when all valid warranty claims are resolved for the respective projects. | ||||||||||||||||||||||||||||
Although Alliant Energy has received warranty claims related to certain of these projects, it does not currently believe that material losses are both probable and reasonably estimated, and therefore, has not recognized any material liabilities related to these matters as of December 31, 2014. Due to the early stages of the warranty claims, Alliant Energy is currently unable to provide an estimate of potential loss or range of potential loss. Refer to Note 19 for further discussion of RMT, including amounts, Alliant Energy recorded to “Operating expenses” in 2014 related to certain warranty claims. | ||||||||||||||||||||||||||||
Whiting Petroleum - In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Whiting Petroleum is an independent oil and gas company. Alliant Energy continues to guarantee the obligations related to the abandonment of certain platforms off the coast of California and related onshore plant and equipment that were owned by Whiting Petroleum prior to Alliant Energy’s sale of Whiting Petroleum. The guarantee does not include a maximum limit. As of December 31, 2014, the present value of the abandonment obligations is estimated at $35 million. Alliant Energy believes that no payments will be made under this guarantee. Alliant Energy has not recognized any material liabilities related to this guarantee as of December 31, 2014. | ||||||||||||||||||||||||||||
(e) Environmental Matters - Alliant Energy, IPL and WPL are subject to environmental regulations as a result of their current and past operations. These regulations are designed to protect public health and the environment and have resulted in compliance, remediation, containment and monitoring obligations, which are recorded as environmental liabilities. At December 31, current environmental liabilities were included in “Other current liabilities” and non-current environmental liabilities were included in “Other liabilities” on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||
Current environmental liabilities | $2.00 | $3.60 | $1.70 | $2.80 | $0.30 | $0.80 | ||||||||||||||||||||||
Non-current environmental liabilities | 13.5 | 15.4 | 11.9 | 13.6 | 1.6 | 1.7 | ||||||||||||||||||||||
$15.50 | $19.00 | $13.60 | $16.40 | $1.90 | $2.50 | |||||||||||||||||||||||
MGP Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. IPL and WPL are currently monitoring and/or remediating 25 and 5 sites, respectively. Included in IPL’s sites is a Minnesota site for which responsibility of monitoring and/or remediating the site is expected to be transferred to the buyer as part of the anticipated sale of IPL’s Minnesota natural gas distribution assets. | ||||||||||||||||||||||||||||
Environmental liabilities related to these MGP sites are recorded based upon periodic studies. Such amounts are based on the best current estimate of the remaining amount to be incurred for investigation, remediation and monitoring costs for those sites where the investigation process has been or is substantially completed, and the minimum of the estimated cost range for those sites where the investigation is in its earlier stages. There are inherent uncertainties associated with the estimated remaining costs for MGP projects primarily due to unknown site conditions and potential changes in regulatory agency requirements. It is possible that future cost estimates will be greater than current estimates as the investigation process proceeds and as additional facts become known. The amounts recognized as liabilities are reduced for expenditures incurred and are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are not discounted. At December 31, 2014, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, were as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
Range of estimated future costs | $12 | - | $31 | $11 | - | $29 | $1 | - | $2 | |||||||||||||||||||
Current and non-current environmental liabilities | 16 | 14 | 2 | |||||||||||||||||||||||||
Refer to Note 2 for discussion of regulatory assets recorded by IPL and WPL, which reflect the probable future rate recovery of MGP expenditures. Considering the current rate treatment, and assuming no material change therein, Alliant Energy, IPL and WPL believe that the clean-up costs incurred for these MGP sites will not have a material effect on their financial condition or results of operations. Settlement has been reached with all of IPL’s and WPL’s insurance carriers regarding reimbursement for their MGP-related costs and such amounts have been accounted for as directed by the applicable regulatory jurisdiction. | ||||||||||||||||||||||||||||
WPL Consent Decree - In 2009, the EPA sent a notice of violation to WPL as an owner and the operator of Edgewater, Nelson Dewey and Columbia alleging that the owners of such EGUs failed to comply with appropriate pre-construction review and permitting requirements and as a result violated the PSD program requirements, Title V Operating Permit requirements of the CAA and the Wisconsin SIP. In 2010, the Sierra Club filed complaints against WPL, as owner and operator of Nelson Dewey and Columbia, and separately as owner and operator of Edgewater, based on allegations that modifications were made at the facilities without complying with the PSD program requirements, Title V Operating Permit requirements of the CAA and state regulatory counterparts contained within the Wisconsin SIP designed to implement the CAA. | ||||||||||||||||||||||||||||
In April 2013, WPL, along with the other owners of Edgewater and Columbia, entered into a Consent Decree with the EPA and the Sierra Club to resolve the claims relating to Edgewater, Columbia and Nelson Dewey, while admitting no liability. In June 2013, the Consent Decree was approved by the Court, thereby resolving all claims against WPL. Under the Consent Decree, WPL is required to install the following emission controls systems: | ||||||||||||||||||||||||||||
• | SCR system at Edgewater Unit 5 by May 1, 2013 (placed in service in 2012); | |||||||||||||||||||||||||||
• | Scrubbers and baghouses at Columbia Units 1 and 2 by December 31, 2014 (placed in service in 2014); | |||||||||||||||||||||||||||
• | Scrubber and baghouse at Edgewater Unit 5 by December 31, 2016; and | |||||||||||||||||||||||||||
• | SCR system at Columbia Unit 2 by December 31, 2018. | |||||||||||||||||||||||||||
WPL is also required to fuel switch or retire Nelson Dewey Units 1 and 2 and Edgewater Unit 3 by December 31, 2015, and Edgewater Unit 4 by December 31, 2018. In addition, the Consent Decree establishes emission rate limits for SO2, NOx and particulate matter for Columbia Units 1 and 2, Nelson Dewey Units 1 and 2, and Edgewater Units 4 and 5. The Consent Decree also includes annual plant-wide emission caps for SO2 and NOx for Columbia, Edgewater and Nelson Dewey. In addition, WPL will complete approximately $7 million in environmental mitigation projects. | ||||||||||||||||||||||||||||
Final recovery of the costs expected to be incurred related to the Consent Decree will be decided by the PSCW in future rate cases or other proceedings. Alliant Energy and WPL currently expect to recover any material costs incurred by WPL related to compliance with the terms of the Consent Decree from WPL’s electric customers, except for costs related to certain of the environmental mitigation projects. | ||||||||||||||||||||||||||||
Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however future capital investments and/or modifications to EGUs to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters are included below, along with a brief description of these environmental rules. | ||||||||||||||||||||||||||||
Air Quality - | ||||||||||||||||||||||||||||
CSAPR is an emissions trading program that requires SO2 and NOx emissions reductions at certain IPL and WPL fossil-fueled EGUs through installation of emission controls and/or purchases of allowances. Compliance with emissions limits began in 2015, with additional emissions limits reductions beginning in 2017. | ||||||||||||||||||||||||||||
CAVR requires states to develop and implement plans to address visibility impairment in designated national parks and wilderness areas. These implementation plans require BART emission controls at certain IPL and WPL fossil-fueled EGUs and other additional measures needed for reducing state contributions to regional haze. | ||||||||||||||||||||||||||||
MATS Rule requires compliance with emission limits for mercury and other HAPs and work practice standards for existing coal-fired EGUs. Compliance is required by April 2015; however, an entity can request an additional year for compliance for certain EGUs. The Wisconsin DNR approved an extension to the MATS compliance deadline to April 2016 for WPL’s Edgewater Unit 3 and Nelson Dewey Units 1 and 2. | ||||||||||||||||||||||||||||
Industrial Boiler and Process Heater MACT Rule requires compliance with HAPs emission limitations and work practice standards at certain IPL and WPL EGUs and fossil-fueled auxiliary boilers and process heaters located at EGUs by January 2016. | ||||||||||||||||||||||||||||
Ozone NAAQS Rule may require a reduction of NOx emissions in certain non-attainment areas based on classifications assigned by the EPA. In 2012, the EPA issued a final rule that classified Sheboygan County in Wisconsin as marginal ozone non-attainment, which requires this area to achieve compliance with the ozone NAAQS by December 2015. WPL operates Edgewater and Sheboygan Falls in Sheboygan County, Wisconsin. | ||||||||||||||||||||||||||||
SO2 NAAQS Rule establishes SO2 standards for certain areas of the U.S. currently exceeding the SO2 standard based on ambient monitoring data. IPL and WPL do not currently operate any EGUs in any areas that have non-attainment designations. | ||||||||||||||||||||||||||||
CAA Section 111(d) proposal would reduce CO2 emissions from existing fossil-fueled EGUs. The EPA is proposing a two-part goal structure: an “interim goal” that each state meets an average threshold over the period from 2020 through 2029, and a “final goal” based on a three-year rolling average that each state meets beginning in 2030. State plans that provide details of how these guidelines are to be met would be required by June 30, 2016. The EPA’s proposal allows for a one-year extension to submit state-only plans and a two-year extension if a state elects to join a regional multi-state program. The EPA is currently expected to issue final standards in 2015. | ||||||||||||||||||||||||||||
CAA Section 111(b) proposal would establish CO2 emissions limits for certain new fossil-fueled EGUs. Marshalltown and WPL’s proposed Riverside expansion are expected to be impacted by these proposed standards and would be constructed to achieve compliance with these standards. The EPA is currently expected to issue final standards in 2015. | ||||||||||||||||||||||||||||
Water Quality - | ||||||||||||||||||||||||||||
Section 316(b) of the Federal Clean Water Act regulates cooling water intake structures and minimizes adverse environmental impacts to fish and other aquatic life. Compliance will be incorporated during periodic facility permit renewal cycles, with final compliance anticipated by 2022. | ||||||||||||||||||||||||||||
Effluent Limitation Guidelines proposal would require changes to discharge limits for wastewater from steam generating facilities. Compliance would be required after July 1, 2017 but before July 1, 2022, depending on each facility’s wastewater permit cycle for existing steam generating facilities and immediately upon operation for new steam generating facilities constructed after the issuance of the final guidelines. | ||||||||||||||||||||||||||||
Hydroelectric Fish Passage Device - WPL is currently required to install an agency-approved fish passage device at its Prairie du Sac hydro plant by December 31, 2020. | ||||||||||||||||||||||||||||
Land and Solid Waste - | ||||||||||||||||||||||||||||
CCR Rule establishes minimum criteria for disposing of CCR in landfills and surface impoundments (ash ponds), and allows for continued operation of ash ponds if they meet certain performance criteria. The schedule for compliance with this rule has not yet been established. | ||||||||||||||||||||||||||||
(f) Credit Risk - IPL and WPL provide regulated electricity and natural gas services to residential, commercial, industrial and wholesale customers in the Midwest region of the U.S. The geographic concentration of these customers did not contribute significantly to overall credit risk exposure. In addition, as a result of a diverse customer base, IPL and WPL did not have any significant credit risk concentration for receivables arising from the sale of electricity or natural gas services. | ||||||||||||||||||||||||||||
Alliant Energy, IPL and WPL are subject to credit risk related to the ability of counterparties to meet their contractual payment obligations or the potential non-performance of counterparties to deliver contracted commodities and other goods or services at the contracted price. IPL and WPL are typically net buyers of commodities (primarily electricity, coal and natural gas) required to provide regulated electricity and natural gas services to their customers. As a result, IPL and WPL are also subject to credit risk related to their counterparties’ failures to deliver commodities at the contracted price. | ||||||||||||||||||||||||||||
Credit policies are maintained to mitigate credit risk. These credit policies include evaluation of the financial condition of certain counterparties, use of credit risk-related contingent provisions in certain commodity agreements that require credit support from counterparties that exceed certain exposure limits, diversification of counterparties to reduce concentrations of credit risk and the use of standardized agreements that facilitate the netting of cash flows associated with certain counterparties. | ||||||||||||||||||||||||||||
IPL has a PPA that grants it rights to purchase capacity and the resulting energy from DAEC through December 31, 2025. This PPA exposes Alliant Energy and IPL to risk of counterparty non-performance. However, financial risk is mitigated by IPL’s fuel-related cost recovery mechanisms. Refer to Note 16(b) for further discussion of the DAEC PPA. | ||||||||||||||||||||||||||||
Based on these credit policies, counterparty diversification and utility cost recovery mechanisms, it is unlikely that counterparty non-performance would have a material effect on financial condition or results of operations. However, there is no assurance that these items will protect against all losses from counterparty non-performance. | ||||||||||||||||||||||||||||
Refer to Notes 5(a) and 15 for details of allowances for doubtful accounts and credit risk-related contingent features, respectively. | ||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES | |||||||||||||||||||||||||||
(a) Capital Purchase Obligations - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects. IPL’s projects include the construction of Marshalltown and the installation of a scrubber at Lansing Unit 4 to reduce SO2 emissions. WPL’s projects include the installation of a scrubber and baghouse at Edgewater Unit 5 to reduce SO2 and mercury emissions, and generation maintenance and performance improvements at Columbia Units 1 and 2. At December 31, 2014, Alliant Energy’s, IPL’s and WPL’s minimum future commitments related to certain contractual obligations for these projects were $25 million, $6 million and $19 million, respectively. | ||||||||||||||||||||||||||||
(b) Operating Expense Purchase Obligations - Various commodity supply, transportation and storage contracts meet obligations to provide electricity and natural gas to utility customers. Other operating expense purchase obligations with various vendors provide other goods and services. At December 31, 2014, minimum future commitments related to these operating expense purchase obligations were as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (IPL) (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | 74 | 46 | 44 | 44 | — | — | 208 | |||||||||||||||||||||
193 | 171 | 182 | 175 | 143 | 882 | 1,746 | ||||||||||||||||||||||
Natural gas | 175 | 69 | 23 | 5 | 2 | 4 | 278 | |||||||||||||||||||||
Coal (c) | 124 | 78 | 47 | 34 | 8 | — | 291 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 10 | 1 | — | — | — | — | 11 | |||||||||||||||||||||
$514 | $333 | $260 | $214 | $153 | $886 | $2,360 | ||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | — | 1 | — | — | — | — | 1 | |||||||||||||||||||||
119 | 126 | 138 | 131 | 143 | 882 | 1,539 | ||||||||||||||||||||||
Natural gas | 108 | 32 | 5 | 2 | 2 | 4 | 153 | |||||||||||||||||||||
Coal (c) | 61 | 35 | 20 | 11 | — | — | 127 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 6 | — | — | — | — | — | 6 | |||||||||||||||||||||
$306 | $207 | $171 | $144 | $145 | $886 | $1,859 | ||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a) | $74 | $45 | $44 | $44 | $— | $— | $207 | |||||||||||||||||||||
Natural gas | 67 | 37 | 18 | 3 | — | — | 125 | |||||||||||||||||||||
Coal (c) | 63 | 43 | 27 | 23 | 8 | — | 164 | |||||||||||||||||||||
Other (e) | 2 | 1 | — | — | — | — | 3 | |||||||||||||||||||||
$206 | $126 | $89 | $70 | $8 | $— | $499 | ||||||||||||||||||||||
(a) | Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Refer to Note 18 for additional information on purchased power transactions. | |||||||||||||||||||||||||||
(b) | Includes commitments incurred under a PPA, which grants IPL rights to purchase up to 431 MWs of capacity and the resulting energy from DAEC for a term through December 31, 2025. If energy delivered is less than the targeted energy amount, an adjustment payment will be made to IPL, which will be reflected in IPL’s fuel adjustment clause. | |||||||||||||||||||||||||||
(c) | 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, 2014 regarding expected future usage, which is subject to change. | |||||||||||||||||||||||||||
(d) | Refer to Note 2 for discussion of $34 million of charges recognized by Alliant Energy and IPL in 2011 for forward contracts to purchase SO2 emission allowances. | |||||||||||||||||||||||||||
(e) | Includes individual commitments incurred during the normal course of business that exceeded $1 million at December 31, 2014. | |||||||||||||||||||||||||||
Certain contracts are considered leases and are therefore not included here, but are included in Note 10. | ||||||||||||||||||||||||||||
(c) Legal Proceedings - | ||||||||||||||||||||||||||||
Flood Damage Claims - In June 2013, several plaintiffs purporting to represent a class of residential and commercial property owners filed a complaint against CRANDIC, Alliant Energy and various other defendants in the Iowa District Court for Linn County. Plaintiffs assert claims of negligence and strict liability based on their allegations that CRANDIC (along with other defendants) caused or exacerbated flooding of the Cedar River in June 2008. In July 2013, the case was removed from state court to federal court based on federal jurisdiction. In September 2013, the U.S. District Court for the Northern District of Iowa dismissed the Plaintiffs’ claims and transferred the case for resolution to the Surface Transportation Board, the administrative agency that oversees the Interstate Commerce Commission Termination Act. In October 2013, the Plaintiffs appealed the federal court’s dismissal of the case to the Eighth Circuit Court of Appeals. Alliant Energy and CRANDIC believe the case is without merit and will continue to vigorously contest the case. As a result, Alliant Energy does not currently believe any material losses from these claims are both probable and reasonably estimated, and therefore, has not recognized any material loss contingency amounts for this complaint as of December 31, 2014. Due to the early stages of the claim and the lack of specific damages identified, Alliant Energy is currently unable to provide an estimate of potential loss or range of potential loss. | ||||||||||||||||||||||||||||
Other - Alliant Energy, IPL and WPL are involved in other legal and administrative proceedings before various courts and agencies with respect to matters arising in the ordinary course of business. Although unable to predict the outcome of these matters, Alliant Energy, IPL and WPL believe that appropriate reserves have been established and final disposition of these actions will not have a material effect on their financial condition or results of operations. | ||||||||||||||||||||||||||||
(e) Environmental Matters - Alliant Energy, IPL and WPL are subject to environmental regulations as a result of their current and past operations. These regulations are designed to protect public health and the environment and have resulted in compliance, remediation, containment and monitoring obligations, which are recorded as environmental liabilities. At December 31, current environmental liabilities were included in “Other current liabilities” and non-current environmental liabilities were included in “Other liabilities” on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||
Current environmental liabilities | $2.00 | $3.60 | $1.70 | $2.80 | $0.30 | $0.80 | ||||||||||||||||||||||
Non-current environmental liabilities | 13.5 | 15.4 | 11.9 | 13.6 | 1.6 | 1.7 | ||||||||||||||||||||||
$15.50 | $19.00 | $13.60 | $16.40 | $1.90 | $2.50 | |||||||||||||||||||||||
MGP Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. IPL and WPL are currently monitoring and/or remediating 25 and 5 sites, respectively. Included in IPL’s sites is a Minnesota site for which responsibility of monitoring and/or remediating the site is expected to be transferred to the buyer as part of the anticipated sale of IPL’s Minnesota natural gas distribution assets. | ||||||||||||||||||||||||||||
Environmental liabilities related to these MGP sites are recorded based upon periodic studies. Such amounts are based on the best current estimate of the remaining amount to be incurred for investigation, remediation and monitoring costs for those sites where the investigation process has been or is substantially completed, and the minimum of the estimated cost range for those sites where the investigation is in its earlier stages. There are inherent uncertainties associated with the estimated remaining costs for MGP projects primarily due to unknown site conditions and potential changes in regulatory agency requirements. It is possible that future cost estimates will be greater than current estimates as the investigation process proceeds and as additional facts become known. The amounts recognized as liabilities are reduced for expenditures incurred and are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are not discounted. At December 31, 2014, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, were as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
Range of estimated future costs | $12 | - | $31 | $11 | - | $29 | $1 | - | $2 | |||||||||||||||||||
Current and non-current environmental liabilities | 16 | 14 | 2 | |||||||||||||||||||||||||
Refer to Note 2 for discussion of regulatory assets recorded by IPL and WPL, which reflect the probable future rate recovery of MGP expenditures. Considering the current rate treatment, and assuming no material change therein, Alliant Energy, IPL and WPL believe that the clean-up costs incurred for these MGP sites will not have a material effect on their financial condition or results of operations. Settlement has been reached with all of IPL’s and WPL’s insurance carriers regarding reimbursement for their MGP-related costs and such amounts have been accounted for as directed by the applicable regulatory jurisdiction. | ||||||||||||||||||||||||||||
WPL Consent Decree - In 2009, the EPA sent a notice of violation to WPL as an owner and the operator of Edgewater, Nelson Dewey and Columbia alleging that the owners of such EGUs failed to comply with appropriate pre-construction review and permitting requirements and as a result violated the PSD program requirements, Title V Operating Permit requirements of the CAA and the Wisconsin SIP. In 2010, the Sierra Club filed complaints against WPL, as owner and operator of Nelson Dewey and Columbia, and separately as owner and operator of Edgewater, based on allegations that modifications were made at the facilities without complying with the PSD program requirements, Title V Operating Permit requirements of the CAA and state regulatory counterparts contained within the Wisconsin SIP designed to implement the CAA. | ||||||||||||||||||||||||||||
In April 2013, WPL, along with the other owners of Edgewater and Columbia, entered into a Consent Decree with the EPA and the Sierra Club to resolve the claims relating to Edgewater, Columbia and Nelson Dewey, while admitting no liability. In June 2013, the Consent Decree was approved by the Court, thereby resolving all claims against WPL. Under the Consent Decree, WPL is required to install the following emission controls systems: | ||||||||||||||||||||||||||||
• | SCR system at Edgewater Unit 5 by May 1, 2013 (placed in service in 2012); | |||||||||||||||||||||||||||
• | Scrubbers and baghouses at Columbia Units 1 and 2 by December 31, 2014 (placed in service in 2014); | |||||||||||||||||||||||||||
• | Scrubber and baghouse at Edgewater Unit 5 by December 31, 2016; and | |||||||||||||||||||||||||||
• | SCR system at Columbia Unit 2 by December 31, 2018. | |||||||||||||||||||||||||||
WPL is also required to fuel switch or retire Nelson Dewey Units 1 and 2 and Edgewater Unit 3 by December 31, 2015, and Edgewater Unit 4 by December 31, 2018. In addition, the Consent Decree establishes emission rate limits for SO2, NOx and particulate matter for Columbia Units 1 and 2, Nelson Dewey Units 1 and 2, and Edgewater Units 4 and 5. The Consent Decree also includes annual plant-wide emission caps for SO2 and NOx for Columbia, Edgewater and Nelson Dewey. In addition, WPL will complete approximately $7 million in environmental mitigation projects. | ||||||||||||||||||||||||||||
Final recovery of the costs expected to be incurred related to the Consent Decree will be decided by the PSCW in future rate cases or other proceedings. Alliant Energy and WPL currently expect to recover any material costs incurred by WPL related to compliance with the terms of the Consent Decree from WPL’s electric customers, except for costs related to certain of the environmental mitigation projects. | ||||||||||||||||||||||||||||
Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however future capital investments and/or modifications to EGUs to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters are included below, along with a brief description of these environmental rules. | ||||||||||||||||||||||||||||
Air Quality - | ||||||||||||||||||||||||||||
CSAPR is an emissions trading program that requires SO2 and NOx emissions reductions at certain IPL and WPL fossil-fueled EGUs through installation of emission controls and/or purchases of allowances. Compliance with emissions limits began in 2015, with additional emissions limits reductions beginning in 2017. | ||||||||||||||||||||||||||||
CAVR requires states to develop and implement plans to address visibility impairment in designated national parks and wilderness areas. These implementation plans require BART emission controls at certain IPL and WPL fossil-fueled EGUs and other additional measures needed for reducing state contributions to regional haze. | ||||||||||||||||||||||||||||
MATS Rule requires compliance with emission limits for mercury and other HAPs and work practice standards for existing coal-fired EGUs. Compliance is required by April 2015; however, an entity can request an additional year for compliance for certain EGUs. The Wisconsin DNR approved an extension to the MATS compliance deadline to April 2016 for WPL’s Edgewater Unit 3 and Nelson Dewey Units 1 and 2. | ||||||||||||||||||||||||||||
Industrial Boiler and Process Heater MACT Rule requires compliance with HAPs emission limitations and work practice standards at certain IPL and WPL EGUs and fossil-fueled auxiliary boilers and process heaters located at EGUs by January 2016. | ||||||||||||||||||||||||||||
Ozone NAAQS Rule may require a reduction of NOx emissions in certain non-attainment areas based on classifications assigned by the EPA. In 2012, the EPA issued a final rule that classified Sheboygan County in Wisconsin as marginal ozone non-attainment, which requires this area to achieve compliance with the ozone NAAQS by December 2015. WPL operates Edgewater and Sheboygan Falls in Sheboygan County, Wisconsin. | ||||||||||||||||||||||||||||
SO2 NAAQS Rule establishes SO2 standards for certain areas of the U.S. currently exceeding the SO2 standard based on ambient monitoring data. IPL and WPL do not currently operate any EGUs in any areas that have non-attainment designations. | ||||||||||||||||||||||||||||
CAA Section 111(d) proposal would reduce CO2 emissions from existing fossil-fueled EGUs. The EPA is proposing a two-part goal structure: an “interim goal” that each state meets an average threshold over the period from 2020 through 2029, and a “final goal” based on a three-year rolling average that each state meets beginning in 2030. State plans that provide details of how these guidelines are to be met would be required by June 30, 2016. The EPA’s proposal allows for a one-year extension to submit state-only plans and a two-year extension if a state elects to join a regional multi-state program. The EPA is currently expected to issue final standards in 2015. | ||||||||||||||||||||||||||||
CAA Section 111(b) proposal would establish CO2 emissions limits for certain new fossil-fueled EGUs. Marshalltown and WPL’s proposed Riverside expansion are expected to be impacted by these proposed standards and would be constructed to achieve compliance with these standards. The EPA is currently expected to issue final standards in 2015. | ||||||||||||||||||||||||||||
Water Quality - | ||||||||||||||||||||||||||||
Section 316(b) of the Federal Clean Water Act regulates cooling water intake structures and minimizes adverse environmental impacts to fish and other aquatic life. Compliance will be incorporated during periodic facility permit renewal cycles, with final compliance anticipated by 2022. | ||||||||||||||||||||||||||||
Effluent Limitation Guidelines proposal would require changes to discharge limits for wastewater from steam generating facilities. Compliance would be required after July 1, 2017 but before July 1, 2022, depending on each facility’s wastewater permit cycle for existing steam generating facilities and immediately upon operation for new steam generating facilities constructed after the issuance of the final guidelines. | ||||||||||||||||||||||||||||
Hydroelectric Fish Passage Device - WPL is currently required to install an agency-approved fish passage device at its Prairie du Sac hydro plant by December 31, 2020. | ||||||||||||||||||||||||||||
Land and Solid Waste - | ||||||||||||||||||||||||||||
CCR Rule establishes minimum criteria for disposing of CCR in landfills and surface impoundments (ash ponds), and allows for continued operation of ash ponds if they meet certain performance criteria. The schedule for compliance with this rule has not yet been established. | ||||||||||||||||||||||||||||
(f) Credit Risk - IPL and WPL provide regulated electricity and natural gas services to residential, commercial, industrial and wholesale customers in the Midwest region of the U.S. The geographic concentration of these customers did not contribute significantly to overall credit risk exposure. In addition, as a result of a diverse customer base, IPL and WPL did not have any significant credit risk concentration for receivables arising from the sale of electricity or natural gas services. | ||||||||||||||||||||||||||||
Alliant Energy, IPL and WPL are subject to credit risk related to the ability of counterparties to meet their contractual payment obligations or the potential non-performance of counterparties to deliver contracted commodities and other goods or services at the contracted price. IPL and WPL are typically net buyers of commodities (primarily electricity, coal and natural gas) required to provide regulated electricity and natural gas services to their customers. As a result, IPL and WPL are also subject to credit risk related to their counterparties’ failures to deliver commodities at the contracted price. | ||||||||||||||||||||||||||||
Credit policies are maintained to mitigate credit risk. These credit policies include evaluation of the financial condition of certain counterparties, use of credit risk-related contingent provisions in certain commodity agreements that require credit support from counterparties that exceed certain exposure limits, diversification of counterparties to reduce concentrations of credit risk and the use of standardized agreements that facilitate the netting of cash flows associated with certain counterparties. | ||||||||||||||||||||||||||||
IPL has a PPA that grants it rights to purchase capacity and the resulting energy from DAEC through December 31, 2025. This PPA exposes Alliant Energy and IPL to risk of counterparty non-performance. However, financial risk is mitigated by IPL’s fuel-related cost recovery mechanisms. Refer to Note 16(b) for further discussion of the DAEC PPA. | ||||||||||||||||||||||||||||
Based on these credit policies, counterparty diversification and utility cost recovery mechanisms, it is unlikely that counterparty non-performance would have a material effect on financial condition or results of operations. However, there is no assurance that these items will protect against all losses from counterparty non-performance. | ||||||||||||||||||||||||||||
Refer to Notes 5(a) and 15 for details of allowances for doubtful accounts and credit risk-related contingent features, respectively. | ||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES | |||||||||||||||||||||||||||
(a) Capital Purchase Obligations - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects. IPL’s projects include the construction of Marshalltown and the installation of a scrubber at Lansing Unit 4 to reduce SO2 emissions. WPL’s projects include the installation of a scrubber and baghouse at Edgewater Unit 5 to reduce SO2 and mercury emissions, and generation maintenance and performance improvements at Columbia Units 1 and 2. At December 31, 2014, Alliant Energy’s, IPL’s and WPL’s minimum future commitments related to certain contractual obligations for these projects were $25 million, $6 million and $19 million, respectively. | ||||||||||||||||||||||||||||
(b) Operating Expense Purchase Obligations - Various commodity supply, transportation and storage contracts meet obligations to provide electricity and natural gas to utility customers. Other operating expense purchase obligations with various vendors provide other goods and services. At December 31, 2014, minimum future commitments related to these operating expense purchase obligations were as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (IPL) (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | 74 | 46 | 44 | 44 | — | — | 208 | |||||||||||||||||||||
193 | 171 | 182 | 175 | 143 | 882 | 1,746 | ||||||||||||||||||||||
Natural gas | 175 | 69 | 23 | 5 | 2 | 4 | 278 | |||||||||||||||||||||
Coal (c) | 124 | 78 | 47 | 34 | 8 | — | 291 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 10 | 1 | — | — | — | — | 11 | |||||||||||||||||||||
$514 | $333 | $260 | $214 | $153 | $886 | $2,360 | ||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | — | 1 | — | — | — | — | 1 | |||||||||||||||||||||
119 | 126 | 138 | 131 | 143 | 882 | 1,539 | ||||||||||||||||||||||
Natural gas | 108 | 32 | 5 | 2 | 2 | 4 | 153 | |||||||||||||||||||||
Coal (c) | 61 | 35 | 20 | 11 | — | — | 127 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 6 | — | — | — | — | — | 6 | |||||||||||||||||||||
$306 | $207 | $171 | $144 | $145 | $886 | $1,859 | ||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a) | $74 | $45 | $44 | $44 | $— | $— | $207 | |||||||||||||||||||||
Natural gas | 67 | 37 | 18 | 3 | — | — | 125 | |||||||||||||||||||||
Coal (c) | 63 | 43 | 27 | 23 | 8 | — | 164 | |||||||||||||||||||||
Other (e) | 2 | 1 | — | — | — | — | 3 | |||||||||||||||||||||
$206 | $126 | $89 | $70 | $8 | $— | $499 | ||||||||||||||||||||||
(a) | Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Refer to Note 18 for additional information on purchased power transactions. | |||||||||||||||||||||||||||
(b) | Includes commitments incurred under a PPA, which grants IPL rights to purchase up to 431 MWs of capacity and the resulting energy from DAEC for a term through December 31, 2025. If energy delivered is less than the targeted energy amount, an adjustment payment will be made to IPL, which will be reflected in IPL’s fuel adjustment clause. | |||||||||||||||||||||||||||
(c) | 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, 2014 regarding expected future usage, which is subject to change. | |||||||||||||||||||||||||||
(d) | Refer to Note 2 for discussion of $34 million of charges recognized by Alliant Energy and IPL in 2011 for forward contracts to purchase SO2 emission allowances. | |||||||||||||||||||||||||||
(e) | Includes individual commitments incurred during the normal course of business that exceeded $1 million at December 31, 2014. | |||||||||||||||||||||||||||
Certain contracts are considered leases and are therefore not included here, but are included in Note 10. | ||||||||||||||||||||||||||||
(c) Legal Proceedings - | ||||||||||||||||||||||||||||
Flood Damage Claims - In June 2013, several plaintiffs purporting to represent a class of residential and commercial property owners filed a complaint against CRANDIC, Alliant Energy and various other defendants in the Iowa District Court for Linn County. Plaintiffs assert claims of negligence and strict liability based on their allegations that CRANDIC (along with other defendants) caused or exacerbated flooding of the Cedar River in June 2008. In July 2013, the case was removed from state court to federal court based on federal jurisdiction. In September 2013, the U.S. District Court for the Northern District of Iowa dismissed the Plaintiffs’ claims and transferred the case for resolution to the Surface Transportation Board, the administrative agency that oversees the Interstate Commerce Commission Termination Act. In October 2013, the Plaintiffs appealed the federal court’s dismissal of the case to the Eighth Circuit Court of Appeals. Alliant Energy and CRANDIC believe the case is without merit and will continue to vigorously contest the case. As a result, Alliant Energy does not currently believe any material losses from these claims are both probable and reasonably estimated, and therefore, has not recognized any material loss contingency amounts for this complaint as of December 31, 2014. Due to the early stages of the claim and the lack of specific damages identified, Alliant Energy is currently unable to provide an estimate of potential loss or range of potential loss. | ||||||||||||||||||||||||||||
Other - Alliant Energy, IPL and WPL are involved in other legal and administrative proceedings before various courts and agencies with respect to matters arising in the ordinary course of business. Although unable to predict the outcome of these matters, Alliant Energy, IPL and WPL believe that appropriate reserves have been established and final disposition of these actions will not have a material effect on their financial condition or results of operations. | ||||||||||||||||||||||||||||
(e) Environmental Matters - Alliant Energy, IPL and WPL are subject to environmental regulations as a result of their current and past operations. These regulations are designed to protect public health and the environment and have resulted in compliance, remediation, containment and monitoring obligations, which are recorded as environmental liabilities. At December 31, current environmental liabilities were included in “Other current liabilities” and non-current environmental liabilities were included in “Other liabilities” on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||
Current environmental liabilities | $2.00 | $3.60 | $1.70 | $2.80 | $0.30 | $0.80 | ||||||||||||||||||||||
Non-current environmental liabilities | 13.5 | 15.4 | 11.9 | 13.6 | 1.6 | 1.7 | ||||||||||||||||||||||
$15.50 | $19.00 | $13.60 | $16.40 | $1.90 | $2.50 | |||||||||||||||||||||||
MGP Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. IPL and WPL are currently monitoring and/or remediating 25 and 5 sites, respectively. Included in IPL’s sites is a Minnesota site for which responsibility of monitoring and/or remediating the site is expected to be transferred to the buyer as part of the anticipated sale of IPL’s Minnesota natural gas distribution assets. | ||||||||||||||||||||||||||||
Environmental liabilities related to these MGP sites are recorded based upon periodic studies. Such amounts are based on the best current estimate of the remaining amount to be incurred for investigation, remediation and monitoring costs for those sites where the investigation process has been or is substantially completed, and the minimum of the estimated cost range for those sites where the investigation is in its earlier stages. There are inherent uncertainties associated with the estimated remaining costs for MGP projects primarily due to unknown site conditions and potential changes in regulatory agency requirements. It is possible that future cost estimates will be greater than current estimates as the investigation process proceeds and as additional facts become known. The amounts recognized as liabilities are reduced for expenditures incurred and are adjusted as further information develops or circumstances change. Costs of future expenditures for environmental remediation obligations are not discounted. At December 31, 2014, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, were as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
Range of estimated future costs | $12 | - | $31 | $11 | - | $29 | $1 | - | $2 | |||||||||||||||||||
Current and non-current environmental liabilities | 16 | 14 | 2 | |||||||||||||||||||||||||
Refer to Note 2 for discussion of regulatory assets recorded by IPL and WPL, which reflect the probable future rate recovery of MGP expenditures. Considering the current rate treatment, and assuming no material change therein, Alliant Energy, IPL and WPL believe that the clean-up costs incurred for these MGP sites will not have a material effect on their financial condition or results of operations. Settlement has been reached with all of IPL’s and WPL’s insurance carriers regarding reimbursement for their MGP-related costs and such amounts have been accounted for as directed by the applicable regulatory jurisdiction. | ||||||||||||||||||||||||||||
WPL Consent Decree - In 2009, the EPA sent a notice of violation to WPL as an owner and the operator of Edgewater, Nelson Dewey and Columbia alleging that the owners of such EGUs failed to comply with appropriate pre-construction review and permitting requirements and as a result violated the PSD program requirements, Title V Operating Permit requirements of the CAA and the Wisconsin SIP. In 2010, the Sierra Club filed complaints against WPL, as owner and operator of Nelson Dewey and Columbia, and separately as owner and operator of Edgewater, based on allegations that modifications were made at the facilities without complying with the PSD program requirements, Title V Operating Permit requirements of the CAA and state regulatory counterparts contained within the Wisconsin SIP designed to implement the CAA. | ||||||||||||||||||||||||||||
In April 2013, WPL, along with the other owners of Edgewater and Columbia, entered into a Consent Decree with the EPA and the Sierra Club to resolve the claims relating to Edgewater, Columbia and Nelson Dewey, while admitting no liability. In June 2013, the Consent Decree was approved by the Court, thereby resolving all claims against WPL. Under the Consent Decree, WPL is required to install the following emission controls systems: | ||||||||||||||||||||||||||||
• | SCR system at Edgewater Unit 5 by May 1, 2013 (placed in service in 2012); | |||||||||||||||||||||||||||
• | Scrubbers and baghouses at Columbia Units 1 and 2 by December 31, 2014 (placed in service in 2014); | |||||||||||||||||||||||||||
• | Scrubber and baghouse at Edgewater Unit 5 by December 31, 2016; and | |||||||||||||||||||||||||||
• | SCR system at Columbia Unit 2 by December 31, 2018. | |||||||||||||||||||||||||||
WPL is also required to fuel switch or retire Nelson Dewey Units 1 and 2 and Edgewater Unit 3 by December 31, 2015, and Edgewater Unit 4 by December 31, 2018. In addition, the Consent Decree establishes emission rate limits for SO2, NOx and particulate matter for Columbia Units 1 and 2, Nelson Dewey Units 1 and 2, and Edgewater Units 4 and 5. The Consent Decree also includes annual plant-wide emission caps for SO2 and NOx for Columbia, Edgewater and Nelson Dewey. In addition, WPL will complete approximately $7 million in environmental mitigation projects. | ||||||||||||||||||||||||||||
Final recovery of the costs expected to be incurred related to the Consent Decree will be decided by the PSCW in future rate cases or other proceedings. Alliant Energy and WPL currently expect to recover any material costs incurred by WPL related to compliance with the terms of the Consent Decree from WPL’s electric customers, except for costs related to certain of the environmental mitigation projects. | ||||||||||||||||||||||||||||
Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however future capital investments and/or modifications to EGUs to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters are included below, along with a brief description of these environmental rules. | ||||||||||||||||||||||||||||
Air Quality - | ||||||||||||||||||||||||||||
CSAPR is an emissions trading program that requires SO2 and NOx emissions reductions at certain IPL and WPL fossil-fueled EGUs through installation of emission controls and/or purchases of allowances. Compliance with emissions limits began in 2015, with additional emissions limits reductions beginning in 2017. | ||||||||||||||||||||||||||||
CAVR requires states to develop and implement plans to address visibility impairment in designated national parks and wilderness areas. These implementation plans require BART emission controls at certain IPL and WPL fossil-fueled EGUs and other additional measures needed for reducing state contributions to regional haze. | ||||||||||||||||||||||||||||
MATS Rule requires compliance with emission limits for mercury and other HAPs and work practice standards for existing coal-fired EGUs. Compliance is required by April 2015; however, an entity can request an additional year for compliance for certain EGUs. The Wisconsin DNR approved an extension to the MATS compliance deadline to April 2016 for WPL’s Edgewater Unit 3 and Nelson Dewey Units 1 and 2. | ||||||||||||||||||||||||||||
Industrial Boiler and Process Heater MACT Rule requires compliance with HAPs emission limitations and work practice standards at certain IPL and WPL EGUs and fossil-fueled auxiliary boilers and process heaters located at EGUs by January 2016. | ||||||||||||||||||||||||||||
Ozone NAAQS Rule may require a reduction of NOx emissions in certain non-attainment areas based on classifications assigned by the EPA. In 2012, the EPA issued a final rule that classified Sheboygan County in Wisconsin as marginal ozone non-attainment, which requires this area to achieve compliance with the ozone NAAQS by December 2015. WPL operates Edgewater and Sheboygan Falls in Sheboygan County, Wisconsin. | ||||||||||||||||||||||||||||
SO2 NAAQS Rule establishes SO2 standards for certain areas of the U.S. currently exceeding the SO2 standard based on ambient monitoring data. IPL and WPL do not currently operate any EGUs in any areas that have non-attainment designations. | ||||||||||||||||||||||||||||
CAA Section 111(d) proposal would reduce CO2 emissions from existing fossil-fueled EGUs. The EPA is proposing a two-part goal structure: an “interim goal” that each state meets an average threshold over the period from 2020 through 2029, and a “final goal” based on a three-year rolling average that each state meets beginning in 2030. State plans that provide details of how these guidelines are to be met would be required by June 30, 2016. The EPA’s proposal allows for a one-year extension to submit state-only plans and a two-year extension if a state elects to join a regional multi-state program. The EPA is currently expected to issue final standards in 2015. | ||||||||||||||||||||||||||||
CAA Section 111(b) proposal would establish CO2 emissions limits for certain new fossil-fueled EGUs. Marshalltown and WPL’s proposed Riverside expansion are expected to be impacted by these proposed standards and would be constructed to achieve compliance with these standards. The EPA is currently expected to issue final standards in 2015. | ||||||||||||||||||||||||||||
Water Quality - | ||||||||||||||||||||||||||||
Section 316(b) of the Federal Clean Water Act regulates cooling water intake structures and minimizes adverse environmental impacts to fish and other aquatic life. Compliance will be incorporated during periodic facility permit renewal cycles, with final compliance anticipated by 2022. | ||||||||||||||||||||||||||||
Effluent Limitation Guidelines proposal would require changes to discharge limits for wastewater from steam generating facilities. Compliance would be required after July 1, 2017 but before July 1, 2022, depending on each facility’s wastewater permit cycle for existing steam generating facilities and immediately upon operation for new steam generating facilities constructed after the issuance of the final guidelines. | ||||||||||||||||||||||||||||
Hydroelectric Fish Passage Device - WPL is currently required to install an agency-approved fish passage device at its Prairie du Sac hydro plant by December 31, 2020. | ||||||||||||||||||||||||||||
Land and Solid Waste - | ||||||||||||||||||||||||||||
CCR Rule establishes minimum criteria for disposing of CCR in landfills and surface impoundments (ash ponds), and allows for continued operation of ash ponds if they meet certain performance criteria. The schedule for compliance with this rule has not yet been established. | ||||||||||||||||||||||||||||
(f) Credit Risk - IPL and WPL provide regulated electricity and natural gas services to residential, commercial, industrial and wholesale customers in the Midwest region of the U.S. The geographic concentration of these customers did not contribute significantly to overall credit risk exposure. In addition, as a result of a diverse customer base, IPL and WPL did not have any significant credit risk concentration for receivables arising from the sale of electricity or natural gas services. | ||||||||||||||||||||||||||||
Alliant Energy, IPL and WPL are subject to credit risk related to the ability of counterparties to meet their contractual payment obligations or the potential non-performance of counterparties to deliver contracted commodities and other goods or services at the contracted price. IPL and WPL are typically net buyers of commodities (primarily electricity, coal and natural gas) required to provide regulated electricity and natural gas services to their customers. As a result, IPL and WPL are also subject to credit risk related to their counterparties’ failures to deliver commodities at the contracted price. | ||||||||||||||||||||||||||||
Credit policies are maintained to mitigate credit risk. These credit policies include evaluation of the financial condition of certain counterparties, use of credit risk-related contingent provisions in certain commodity agreements that require credit support from counterparties that exceed certain exposure limits, diversification of counterparties to reduce concentrations of credit risk and the use of standardized agreements that facilitate the netting of cash flows associated with certain counterparties. | ||||||||||||||||||||||||||||
IPL has a PPA that grants it rights to purchase capacity and the resulting energy from DAEC through December 31, 2025. This PPA exposes Alliant Energy and IPL to risk of counterparty non-performance. However, financial risk is mitigated by IPL’s fuel-related cost recovery mechanisms. Refer to Note 16(b) for further discussion of the DAEC PPA. | ||||||||||||||||||||||||||||
Based on these credit policies, counterparty diversification and utility cost recovery mechanisms, it is unlikely that counterparty non-performance would have a material effect on financial condition or results of operations. However, there is no assurance that these items will protect against all losses from counterparty non-performance. | ||||||||||||||||||||||||||||
Refer to Notes 5(a) and 15 for details of allowances for doubtful accounts and credit risk-related contingent features, respectively. |
Segments_Of_Business
Segments Of Business | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||
Segments Of Business | SEGMENTS OF BUSINESS | |||||||||||||||||||||||
Alliant Energy - Alliant Energy’s principal businesses as of December 31, 2014 are: | ||||||||||||||||||||||||
• | Utility - includes the operations of IPL and WPL, which serve customers in Iowa, Wisconsin and Minnesota. 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.” | |||||||||||||||||||||||
• | Non-regulated, Parent and Other - includes the operations of Resources and its subsidiaries, Corporate Services, the Alliant Energy parent company, and any Alliant Energy parent company consolidating adjustments. Resources’ businesses include Transportation, Non-regulated Generation and other non-regulated investments described in Note 1(a). | |||||||||||||||||||||||
Alliant Energy’s administrative support services are directly charged to the applicable segment where practicable. In all other cases, administrative support services are allocated to the applicable segment based on services agreements. Intersegment revenues were not material to Alliant Energy’s operations and there was no single customer whose revenues were 10% or more of Alliant Energy’s consolidated revenues. | ||||||||||||||||||||||||
Certain financial information relating to Alliant Energy’s business segments, products and services and geographic information was as follows (in millions): | ||||||||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,713.60 | $517.50 | $66.10 | $3,297.20 | $53.10 | $3,350.30 | ||||||||||||||||||
Depreciation and amortization | 347 | 29.9 | 1.8 | 378.7 | 9.4 | 388.1 | ||||||||||||||||||
Operating income | 442.4 | 53.8 | 14 | 510.2 | 33.4 | 543.6 | ||||||||||||||||||
Interest expense | 176.3 | 4.3 | 180.6 | |||||||||||||||||||||
Equity income from unconsolidated investments, net | (42.8 | ) | — | — | (42.8 | ) | 2.4 | (40.4 | ) | |||||||||||||||
Income taxes | 33.9 | 10.4 | 44.3 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 364.5 | 18.6 | 383.1 | |||||||||||||||||||||
Total assets | 9,660.40 | 913.5 | 1,016.10 | 11,590.00 | 495.9 | 12,085.90 | ||||||||||||||||||
Investments in equity method subsidiaries | 294.3 | — | — | 294.3 | 2.3 | 296.6 | ||||||||||||||||||
Construction and acquisition expenditures | 774.8 | 63.2 | 0.9 | 838.9 | 63.9 | 902.8 | ||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2013 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,689.00 | $464.80 | $71.30 | $3,225.10 | $51.70 | $3,276.80 | ||||||||||||||||||
Depreciation and amortization | 333 | 28.8 | 1.5 | 363.3 | 7.6 | 370.9 | ||||||||||||||||||
Operating income | 444.5 | 57.3 | 6.3 | 508.1 | 25.8 | 533.9 | ||||||||||||||||||
Interest expense | 166.3 | 6.5 | 172.8 | |||||||||||||||||||||
Equity income from unconsolidated investments, net | (43.7 | ) | — | — | (43.7 | ) | — | (43.7 | ) | |||||||||||||||
Income taxes | 49.3 | 4.6 | 53.9 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 349.5 | 8.8 | 358.3 | |||||||||||||||||||||
Total assets | 9,018.60 | 859.3 | 732.5 | 10,610.40 | 502 | 11,112.40 | ||||||||||||||||||
Investments in equity method subsidiaries | 279.1 | — | — | 279.1 | 2.3 | 281.4 | ||||||||||||||||||
Construction and acquisition expenditures | 677.3 | 47 | 7.3 | 731.6 | 66.7 | 798.3 | ||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2012 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,589.30 | $396.30 | $56.70 | $3,042.30 | $52.20 | $3,094.50 | ||||||||||||||||||
Depreciation and amortization | 299.3 | 29.1 | 1.4 | 329.8 | 2.6 | 332.4 | ||||||||||||||||||
Operating income | 426.2 | 51.5 | 7.4 | 485.1 | 34.6 | 519.7 | ||||||||||||||||||
Interest expense | 158.7 | (2.0 | ) | 156.7 | ||||||||||||||||||||
Equity (income) loss from unconsolidated investments, net | (42.1 | ) | — | — | (42.1 | ) | 0.8 | (41.3 | ) | |||||||||||||||
Income taxes | 74.8 | 14.6 | 89.4 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 300 | 19.8 | 319.8 | |||||||||||||||||||||
Total assets | 8,438.80 | 814.8 | 966 | 10,219.60 | 565.9 | 10,785.50 | ||||||||||||||||||
Investments in equity method subsidiaries | 264.3 | — | — | 264.3 | 2.3 | 266.6 | ||||||||||||||||||
Construction and acquisition expenditures | 994 | 31.4 | 0.1 | 1,025.50 | 132.6 | 1,158.10 | ||||||||||||||||||
Products and Services - Alliant Energy’s consolidated operating revenues by segment, which were substantially all related to services, were as follows: | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Utility electric operations | 81 | % | 82 | % | 84 | % | ||||||||||||||||||
Utility gas operations | 15 | % | 14 | % | 13 | % | ||||||||||||||||||
Utility other | 2 | % | 2 | % | 2 | % | ||||||||||||||||||
Other | 2 | % | 2 | % | 1 | % | ||||||||||||||||||
100 | % | 100 | % | 100 | % | |||||||||||||||||||
Geographic Information - At December 31, 2014, 2013 and 2012, Alliant Energy, IPL and WPL did not have any long-lived assets to be held and used in foreign countries. | ||||||||||||||||||||||||
IPL - IPL is a utility serving customers in Iowa and Minnesota and includes three reportable segments: a) electric operations; b) gas operations; and c) 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.” Intersegment revenues were not material to IPL’s operations and there was no single customer whose revenues were 10% or more of IPL’s consolidated revenues. Certain financial information relating to IPL’s business segments was as follows (in millions): | ||||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,493.30 | $296.50 | $58.30 | $1,848.10 | ||||||||||||||||||||
Depreciation and amortization | 178.7 | 17 | 1.8 | 197.5 | ||||||||||||||||||||
Operating income | 166.8 | 25.7 | 16.7 | 209.2 | ||||||||||||||||||||
Interest expense | 89.9 | |||||||||||||||||||||||
Income tax benefit | (51.7 | ) | ||||||||||||||||||||||
Earnings available for common stock | 184.4 | |||||||||||||||||||||||
Total assets | 5,398.30 | 544.1 | 519.4 | 6,461.80 | ||||||||||||||||||||
Construction and acquisition expenditures | 490 | 35.1 | 0.9 | 526 | ||||||||||||||||||||
2013 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,491.80 | $273.90 | $53.10 | $1,818.80 | ||||||||||||||||||||
Depreciation and amortization | 173.1 | 16.5 | 1.5 | 191.1 | ||||||||||||||||||||
Operating income | 173.1 | 29.8 | 9.1 | 212 | ||||||||||||||||||||
Interest expense | 81.3 | |||||||||||||||||||||||
Income tax benefit | (37.9 | ) | ||||||||||||||||||||||
Earnings available for common stock | 173.6 | |||||||||||||||||||||||
Total assets | 4,905.30 | 518.8 | 381.9 | 5,806.00 | ||||||||||||||||||||
Construction and acquisition expenditures | 365.4 | 27.5 | 7.3 | 400.2 | ||||||||||||||||||||
2012 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,371.10 | $226.70 | $52.50 | $1,650.30 | ||||||||||||||||||||
Depreciation and amortization | 171.2 | 16.3 | 1.4 | 188.9 | ||||||||||||||||||||
Operating income | 166.2 | 24.2 | 9.9 | 200.3 | ||||||||||||||||||||
Interest expense | 78.5 | |||||||||||||||||||||||
Income tax benefit | (19.8 | ) | ||||||||||||||||||||||
Earnings available for common stock | 137.6 | |||||||||||||||||||||||
Total assets | 4,500.90 | 479.5 | 476.6 | 5,457.00 | ||||||||||||||||||||
Construction and acquisition expenditures | 291 | 16.4 | 0.1 | 307.5 | ||||||||||||||||||||
WPL - WPL is a utility serving customers in Wisconsin and includes three reportable segments: a) electric operations; b) gas operations; and c) other, which includes 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.” Intersegment revenues were not material to WPL’s operations and there was no single customer whose revenues were 10% or more of WPL’s consolidated revenues. Certain financial information relating to WPL’s business segments was as follows (in millions): | ||||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,220.30 | $221.00 | $7.80 | $1,449.10 | ||||||||||||||||||||
Depreciation and amortization | 168.3 | 12.9 | — | 181.2 | ||||||||||||||||||||
Operating income (loss) | 275.6 | 28.1 | (2.7 | ) | 301 | |||||||||||||||||||
Interest expense | 86.4 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (42.8 | ) | — | — | (42.8 | ) | ||||||||||||||||||
Income taxes | 85.6 | |||||||||||||||||||||||
Earnings available for common stock | 180.1 | |||||||||||||||||||||||
Total assets | 4,262.10 | 369.4 | 496.7 | 5,128.20 | ||||||||||||||||||||
Investments in equity method subsidiaries | 294.3 | — | — | 294.3 | ||||||||||||||||||||
Construction and acquisition expenditures | 284.8 | 28.1 | — | 312.9 | ||||||||||||||||||||
2013 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,197.20 | $190.90 | $18.20 | $1,406.30 | ||||||||||||||||||||
Depreciation and amortization | 159.9 | 12.3 | — | 172.2 | ||||||||||||||||||||
Operating income (loss) | 271.4 | 27.5 | (2.8 | ) | 296.1 | |||||||||||||||||||
Interest expense | 85 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (43.7 | ) | — | — | (43.7 | ) | ||||||||||||||||||
Income taxes | 87.2 | |||||||||||||||||||||||
Earnings available for common stock | 175.9 | |||||||||||||||||||||||
Total assets | 4,113.30 | 340.5 | 350.6 | 4,804.40 | ||||||||||||||||||||
Investments in equity method subsidiaries | 279.1 | — | — | 279.1 | ||||||||||||||||||||
Construction and acquisition expenditures | 311.9 | 19.5 | — | 331.4 | ||||||||||||||||||||
2012 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,218.20 | $169.60 | $4.20 | $1,392.00 | ||||||||||||||||||||
Depreciation and amortization | 128.1 | 12.8 | — | 140.9 | ||||||||||||||||||||
Operating income (loss) | 260 | 27.3 | (2.5 | ) | 284.8 | |||||||||||||||||||
Interest expense | 80.2 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (42.1 | ) | — | — | (42.1 | ) | ||||||||||||||||||
Income taxes | 94.6 | |||||||||||||||||||||||
Earnings available for common stock | 162.4 | |||||||||||||||||||||||
Total assets | 3,937.90 | 335.3 | 489.4 | 4,762.60 | ||||||||||||||||||||
Investments in equity method subsidiaries | 264.3 | — | — | 264.3 | ||||||||||||||||||||
Construction and acquisition expenditures | 703 | 15 | — | 718 | ||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||
Segments Of Business | SEGMENTS OF BUSINESS | |||||||||||||||||||||||
Alliant Energy - Alliant Energy’s principal businesses as of December 31, 2014 are: | ||||||||||||||||||||||||
• | Utility - includes the operations of IPL and WPL, which serve customers in Iowa, Wisconsin and Minnesota. 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.” | |||||||||||||||||||||||
• | Non-regulated, Parent and Other - includes the operations of Resources and its subsidiaries, Corporate Services, the Alliant Energy parent company, and any Alliant Energy parent company consolidating adjustments. Resources’ businesses include Transportation, Non-regulated Generation and other non-regulated investments described in Note 1(a). | |||||||||||||||||||||||
Alliant Energy’s administrative support services are directly charged to the applicable segment where practicable. In all other cases, administrative support services are allocated to the applicable segment based on services agreements. Intersegment revenues were not material to Alliant Energy’s operations and there was no single customer whose revenues were 10% or more of Alliant Energy’s consolidated revenues. | ||||||||||||||||||||||||
Certain financial information relating to Alliant Energy’s business segments, products and services and geographic information was as follows (in millions): | ||||||||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,713.60 | $517.50 | $66.10 | $3,297.20 | $53.10 | $3,350.30 | ||||||||||||||||||
Depreciation and amortization | 347 | 29.9 | 1.8 | 378.7 | 9.4 | 388.1 | ||||||||||||||||||
Operating income | 442.4 | 53.8 | 14 | 510.2 | 33.4 | 543.6 | ||||||||||||||||||
Interest expense | 176.3 | 4.3 | 180.6 | |||||||||||||||||||||
Equity income from unconsolidated investments, net | (42.8 | ) | — | — | (42.8 | ) | 2.4 | (40.4 | ) | |||||||||||||||
Income taxes | 33.9 | 10.4 | 44.3 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 364.5 | 18.6 | 383.1 | |||||||||||||||||||||
Total assets | 9,660.40 | 913.5 | 1,016.10 | 11,590.00 | 495.9 | 12,085.90 | ||||||||||||||||||
Investments in equity method subsidiaries | 294.3 | — | — | 294.3 | 2.3 | 296.6 | ||||||||||||||||||
Construction and acquisition expenditures | 774.8 | 63.2 | 0.9 | 838.9 | 63.9 | 902.8 | ||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2013 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,689.00 | $464.80 | $71.30 | $3,225.10 | $51.70 | $3,276.80 | ||||||||||||||||||
Depreciation and amortization | 333 | 28.8 | 1.5 | 363.3 | 7.6 | 370.9 | ||||||||||||||||||
Operating income | 444.5 | 57.3 | 6.3 | 508.1 | 25.8 | 533.9 | ||||||||||||||||||
Interest expense | 166.3 | 6.5 | 172.8 | |||||||||||||||||||||
Equity income from unconsolidated investments, net | (43.7 | ) | — | — | (43.7 | ) | — | (43.7 | ) | |||||||||||||||
Income taxes | 49.3 | 4.6 | 53.9 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 349.5 | 8.8 | 358.3 | |||||||||||||||||||||
Total assets | 9,018.60 | 859.3 | 732.5 | 10,610.40 | 502 | 11,112.40 | ||||||||||||||||||
Investments in equity method subsidiaries | 279.1 | — | — | 279.1 | 2.3 | 281.4 | ||||||||||||||||||
Construction and acquisition expenditures | 677.3 | 47 | 7.3 | 731.6 | 66.7 | 798.3 | ||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2012 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,589.30 | $396.30 | $56.70 | $3,042.30 | $52.20 | $3,094.50 | ||||||||||||||||||
Depreciation and amortization | 299.3 | 29.1 | 1.4 | 329.8 | 2.6 | 332.4 | ||||||||||||||||||
Operating income | 426.2 | 51.5 | 7.4 | 485.1 | 34.6 | 519.7 | ||||||||||||||||||
Interest expense | 158.7 | (2.0 | ) | 156.7 | ||||||||||||||||||||
Equity (income) loss from unconsolidated investments, net | (42.1 | ) | — | — | (42.1 | ) | 0.8 | (41.3 | ) | |||||||||||||||
Income taxes | 74.8 | 14.6 | 89.4 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 300 | 19.8 | 319.8 | |||||||||||||||||||||
Total assets | 8,438.80 | 814.8 | 966 | 10,219.60 | 565.9 | 10,785.50 | ||||||||||||||||||
Investments in equity method subsidiaries | 264.3 | — | — | 264.3 | 2.3 | 266.6 | ||||||||||||||||||
Construction and acquisition expenditures | 994 | 31.4 | 0.1 | 1,025.50 | 132.6 | 1,158.10 | ||||||||||||||||||
Products and Services - Alliant Energy’s consolidated operating revenues by segment, which were substantially all related to services, were as follows: | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Utility electric operations | 81 | % | 82 | % | 84 | % | ||||||||||||||||||
Utility gas operations | 15 | % | 14 | % | 13 | % | ||||||||||||||||||
Utility other | 2 | % | 2 | % | 2 | % | ||||||||||||||||||
Other | 2 | % | 2 | % | 1 | % | ||||||||||||||||||
100 | % | 100 | % | 100 | % | |||||||||||||||||||
Geographic Information - At December 31, 2014, 2013 and 2012, Alliant Energy, IPL and WPL did not have any long-lived assets to be held and used in foreign countries. | ||||||||||||||||||||||||
IPL - IPL is a utility serving customers in Iowa and Minnesota and includes three reportable segments: a) electric operations; b) gas operations; and c) 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.” Intersegment revenues were not material to IPL’s operations and there was no single customer whose revenues were 10% or more of IPL’s consolidated revenues. Certain financial information relating to IPL’s business segments was as follows (in millions): | ||||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,493.30 | $296.50 | $58.30 | $1,848.10 | ||||||||||||||||||||
Depreciation and amortization | 178.7 | 17 | 1.8 | 197.5 | ||||||||||||||||||||
Operating income | 166.8 | 25.7 | 16.7 | 209.2 | ||||||||||||||||||||
Interest expense | 89.9 | |||||||||||||||||||||||
Income tax benefit | (51.7 | ) | ||||||||||||||||||||||
Earnings available for common stock | 184.4 | |||||||||||||||||||||||
Total assets | 5,398.30 | 544.1 | 519.4 | 6,461.80 | ||||||||||||||||||||
Construction and acquisition expenditures | 490 | 35.1 | 0.9 | 526 | ||||||||||||||||||||
2013 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,491.80 | $273.90 | $53.10 | $1,818.80 | ||||||||||||||||||||
Depreciation and amortization | 173.1 | 16.5 | 1.5 | 191.1 | ||||||||||||||||||||
Operating income | 173.1 | 29.8 | 9.1 | 212 | ||||||||||||||||||||
Interest expense | 81.3 | |||||||||||||||||||||||
Income tax benefit | (37.9 | ) | ||||||||||||||||||||||
Earnings available for common stock | 173.6 | |||||||||||||||||||||||
Total assets | 4,905.30 | 518.8 | 381.9 | 5,806.00 | ||||||||||||||||||||
Construction and acquisition expenditures | 365.4 | 27.5 | 7.3 | 400.2 | ||||||||||||||||||||
2012 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,371.10 | $226.70 | $52.50 | $1,650.30 | ||||||||||||||||||||
Depreciation and amortization | 171.2 | 16.3 | 1.4 | 188.9 | ||||||||||||||||||||
Operating income | 166.2 | 24.2 | 9.9 | 200.3 | ||||||||||||||||||||
Interest expense | 78.5 | |||||||||||||||||||||||
Income tax benefit | (19.8 | ) | ||||||||||||||||||||||
Earnings available for common stock | 137.6 | |||||||||||||||||||||||
Total assets | 4,500.90 | 479.5 | 476.6 | 5,457.00 | ||||||||||||||||||||
Construction and acquisition expenditures | 291 | 16.4 | 0.1 | 307.5 | ||||||||||||||||||||
WPL - WPL is a utility serving customers in Wisconsin and includes three reportable segments: a) electric operations; b) gas operations; and c) other, which includes 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.” Intersegment revenues were not material to WPL’s operations and there was no single customer whose revenues were 10% or more of WPL’s consolidated revenues. Certain financial information relating to WPL’s business segments was as follows (in millions): | ||||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,220.30 | $221.00 | $7.80 | $1,449.10 | ||||||||||||||||||||
Depreciation and amortization | 168.3 | 12.9 | — | 181.2 | ||||||||||||||||||||
Operating income (loss) | 275.6 | 28.1 | (2.7 | ) | 301 | |||||||||||||||||||
Interest expense | 86.4 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (42.8 | ) | — | — | (42.8 | ) | ||||||||||||||||||
Income taxes | 85.6 | |||||||||||||||||||||||
Earnings available for common stock | 180.1 | |||||||||||||||||||||||
Total assets | 4,262.10 | 369.4 | 496.7 | 5,128.20 | ||||||||||||||||||||
Investments in equity method subsidiaries | 294.3 | — | — | 294.3 | ||||||||||||||||||||
Construction and acquisition expenditures | 284.8 | 28.1 | — | 312.9 | ||||||||||||||||||||
2013 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,197.20 | $190.90 | $18.20 | $1,406.30 | ||||||||||||||||||||
Depreciation and amortization | 159.9 | 12.3 | — | 172.2 | ||||||||||||||||||||
Operating income (loss) | 271.4 | 27.5 | (2.8 | ) | 296.1 | |||||||||||||||||||
Interest expense | 85 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (43.7 | ) | — | — | (43.7 | ) | ||||||||||||||||||
Income taxes | 87.2 | |||||||||||||||||||||||
Earnings available for common stock | 175.9 | |||||||||||||||||||||||
Total assets | 4,113.30 | 340.5 | 350.6 | 4,804.40 | ||||||||||||||||||||
Investments in equity method subsidiaries | 279.1 | — | — | 279.1 | ||||||||||||||||||||
Construction and acquisition expenditures | 311.9 | 19.5 | — | 331.4 | ||||||||||||||||||||
2012 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,218.20 | $169.60 | $4.20 | $1,392.00 | ||||||||||||||||||||
Depreciation and amortization | 128.1 | 12.8 | — | 140.9 | ||||||||||||||||||||
Operating income (loss) | 260 | 27.3 | (2.5 | ) | 284.8 | |||||||||||||||||||
Interest expense | 80.2 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (42.1 | ) | — | — | (42.1 | ) | ||||||||||||||||||
Income taxes | 94.6 | |||||||||||||||||||||||
Earnings available for common stock | 162.4 | |||||||||||||||||||||||
Total assets | 3,937.90 | 335.3 | 489.4 | 4,762.60 | ||||||||||||||||||||
Investments in equity method subsidiaries | 264.3 | — | — | 264.3 | ||||||||||||||||||||
Construction and acquisition expenditures | 703 | 15 | — | 718 | ||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||
Segments Of Business | SEGMENTS OF BUSINESS | |||||||||||||||||||||||
Alliant Energy - Alliant Energy’s principal businesses as of December 31, 2014 are: | ||||||||||||||||||||||||
• | Utility - includes the operations of IPL and WPL, which serve customers in Iowa, Wisconsin and Minnesota. 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.” | |||||||||||||||||||||||
• | Non-regulated, Parent and Other - includes the operations of Resources and its subsidiaries, Corporate Services, the Alliant Energy parent company, and any Alliant Energy parent company consolidating adjustments. Resources’ businesses include Transportation, Non-regulated Generation and other non-regulated investments described in Note 1(a). | |||||||||||||||||||||||
Alliant Energy’s administrative support services are directly charged to the applicable segment where practicable. In all other cases, administrative support services are allocated to the applicable segment based on services agreements. Intersegment revenues were not material to Alliant Energy’s operations and there was no single customer whose revenues were 10% or more of Alliant Energy’s consolidated revenues. | ||||||||||||||||||||||||
Certain financial information relating to Alliant Energy’s business segments, products and services and geographic information was as follows (in millions): | ||||||||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,713.60 | $517.50 | $66.10 | $3,297.20 | $53.10 | $3,350.30 | ||||||||||||||||||
Depreciation and amortization | 347 | 29.9 | 1.8 | 378.7 | 9.4 | 388.1 | ||||||||||||||||||
Operating income | 442.4 | 53.8 | 14 | 510.2 | 33.4 | 543.6 | ||||||||||||||||||
Interest expense | 176.3 | 4.3 | 180.6 | |||||||||||||||||||||
Equity income from unconsolidated investments, net | (42.8 | ) | — | — | (42.8 | ) | 2.4 | (40.4 | ) | |||||||||||||||
Income taxes | 33.9 | 10.4 | 44.3 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 364.5 | 18.6 | 383.1 | |||||||||||||||||||||
Total assets | 9,660.40 | 913.5 | 1,016.10 | 11,590.00 | 495.9 | 12,085.90 | ||||||||||||||||||
Investments in equity method subsidiaries | 294.3 | — | — | 294.3 | 2.3 | 296.6 | ||||||||||||||||||
Construction and acquisition expenditures | 774.8 | 63.2 | 0.9 | 838.9 | 63.9 | 902.8 | ||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2013 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,689.00 | $464.80 | $71.30 | $3,225.10 | $51.70 | $3,276.80 | ||||||||||||||||||
Depreciation and amortization | 333 | 28.8 | 1.5 | 363.3 | 7.6 | 370.9 | ||||||||||||||||||
Operating income | 444.5 | 57.3 | 6.3 | 508.1 | 25.8 | 533.9 | ||||||||||||||||||
Interest expense | 166.3 | 6.5 | 172.8 | |||||||||||||||||||||
Equity income from unconsolidated investments, net | (43.7 | ) | — | — | (43.7 | ) | — | (43.7 | ) | |||||||||||||||
Income taxes | 49.3 | 4.6 | 53.9 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 349.5 | 8.8 | 358.3 | |||||||||||||||||||||
Total assets | 9,018.60 | 859.3 | 732.5 | 10,610.40 | 502 | 11,112.40 | ||||||||||||||||||
Investments in equity method subsidiaries | 279.1 | — | — | 279.1 | 2.3 | 281.4 | ||||||||||||||||||
Construction and acquisition expenditures | 677.3 | 47 | 7.3 | 731.6 | 66.7 | 798.3 | ||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2012 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,589.30 | $396.30 | $56.70 | $3,042.30 | $52.20 | $3,094.50 | ||||||||||||||||||
Depreciation and amortization | 299.3 | 29.1 | 1.4 | 329.8 | 2.6 | 332.4 | ||||||||||||||||||
Operating income | 426.2 | 51.5 | 7.4 | 485.1 | 34.6 | 519.7 | ||||||||||||||||||
Interest expense | 158.7 | (2.0 | ) | 156.7 | ||||||||||||||||||||
Equity (income) loss from unconsolidated investments, net | (42.1 | ) | — | — | (42.1 | ) | 0.8 | (41.3 | ) | |||||||||||||||
Income taxes | 74.8 | 14.6 | 89.4 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 300 | 19.8 | 319.8 | |||||||||||||||||||||
Total assets | 8,438.80 | 814.8 | 966 | 10,219.60 | 565.9 | 10,785.50 | ||||||||||||||||||
Investments in equity method subsidiaries | 264.3 | — | — | 264.3 | 2.3 | 266.6 | ||||||||||||||||||
Construction and acquisition expenditures | 994 | 31.4 | 0.1 | 1,025.50 | 132.6 | 1,158.10 | ||||||||||||||||||
Products and Services - Alliant Energy’s consolidated operating revenues by segment, which were substantially all related to services, were as follows: | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Utility electric operations | 81 | % | 82 | % | 84 | % | ||||||||||||||||||
Utility gas operations | 15 | % | 14 | % | 13 | % | ||||||||||||||||||
Utility other | 2 | % | 2 | % | 2 | % | ||||||||||||||||||
Other | 2 | % | 2 | % | 1 | % | ||||||||||||||||||
100 | % | 100 | % | 100 | % | |||||||||||||||||||
Geographic Information - At December 31, 2014, 2013 and 2012, Alliant Energy, IPL and WPL did not have any long-lived assets to be held and used in foreign countries. | ||||||||||||||||||||||||
IPL - IPL is a utility serving customers in Iowa and Minnesota and includes three reportable segments: a) electric operations; b) gas operations; and c) 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.” Intersegment revenues were not material to IPL’s operations and there was no single customer whose revenues were 10% or more of IPL’s consolidated revenues. Certain financial information relating to IPL’s business segments was as follows (in millions): | ||||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,493.30 | $296.50 | $58.30 | $1,848.10 | ||||||||||||||||||||
Depreciation and amortization | 178.7 | 17 | 1.8 | 197.5 | ||||||||||||||||||||
Operating income | 166.8 | 25.7 | 16.7 | 209.2 | ||||||||||||||||||||
Interest expense | 89.9 | |||||||||||||||||||||||
Income tax benefit | (51.7 | ) | ||||||||||||||||||||||
Earnings available for common stock | 184.4 | |||||||||||||||||||||||
Total assets | 5,398.30 | 544.1 | 519.4 | 6,461.80 | ||||||||||||||||||||
Construction and acquisition expenditures | 490 | 35.1 | 0.9 | 526 | ||||||||||||||||||||
2013 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,491.80 | $273.90 | $53.10 | $1,818.80 | ||||||||||||||||||||
Depreciation and amortization | 173.1 | 16.5 | 1.5 | 191.1 | ||||||||||||||||||||
Operating income | 173.1 | 29.8 | 9.1 | 212 | ||||||||||||||||||||
Interest expense | 81.3 | |||||||||||||||||||||||
Income tax benefit | (37.9 | ) | ||||||||||||||||||||||
Earnings available for common stock | 173.6 | |||||||||||||||||||||||
Total assets | 4,905.30 | 518.8 | 381.9 | 5,806.00 | ||||||||||||||||||||
Construction and acquisition expenditures | 365.4 | 27.5 | 7.3 | 400.2 | ||||||||||||||||||||
2012 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,371.10 | $226.70 | $52.50 | $1,650.30 | ||||||||||||||||||||
Depreciation and amortization | 171.2 | 16.3 | 1.4 | 188.9 | ||||||||||||||||||||
Operating income | 166.2 | 24.2 | 9.9 | 200.3 | ||||||||||||||||||||
Interest expense | 78.5 | |||||||||||||||||||||||
Income tax benefit | (19.8 | ) | ||||||||||||||||||||||
Earnings available for common stock | 137.6 | |||||||||||||||||||||||
Total assets | 4,500.90 | 479.5 | 476.6 | 5,457.00 | ||||||||||||||||||||
Construction and acquisition expenditures | 291 | 16.4 | 0.1 | 307.5 | ||||||||||||||||||||
WPL - WPL is a utility serving customers in Wisconsin and includes three reportable segments: a) electric operations; b) gas operations; and c) other, which includes 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.” Intersegment revenues were not material to WPL’s operations and there was no single customer whose revenues were 10% or more of WPL’s consolidated revenues. Certain financial information relating to WPL’s business segments was as follows (in millions): | ||||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,220.30 | $221.00 | $7.80 | $1,449.10 | ||||||||||||||||||||
Depreciation and amortization | 168.3 | 12.9 | — | 181.2 | ||||||||||||||||||||
Operating income (loss) | 275.6 | 28.1 | (2.7 | ) | 301 | |||||||||||||||||||
Interest expense | 86.4 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (42.8 | ) | — | — | (42.8 | ) | ||||||||||||||||||
Income taxes | 85.6 | |||||||||||||||||||||||
Earnings available for common stock | 180.1 | |||||||||||||||||||||||
Total assets | 4,262.10 | 369.4 | 496.7 | 5,128.20 | ||||||||||||||||||||
Investments in equity method subsidiaries | 294.3 | — | — | 294.3 | ||||||||||||||||||||
Construction and acquisition expenditures | 284.8 | 28.1 | — | 312.9 | ||||||||||||||||||||
2013 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,197.20 | $190.90 | $18.20 | $1,406.30 | ||||||||||||||||||||
Depreciation and amortization | 159.9 | 12.3 | — | 172.2 | ||||||||||||||||||||
Operating income (loss) | 271.4 | 27.5 | (2.8 | ) | 296.1 | |||||||||||||||||||
Interest expense | 85 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (43.7 | ) | — | — | (43.7 | ) | ||||||||||||||||||
Income taxes | 87.2 | |||||||||||||||||||||||
Earnings available for common stock | 175.9 | |||||||||||||||||||||||
Total assets | 4,113.30 | 340.5 | 350.6 | 4,804.40 | ||||||||||||||||||||
Investments in equity method subsidiaries | 279.1 | — | — | 279.1 | ||||||||||||||||||||
Construction and acquisition expenditures | 311.9 | 19.5 | — | 331.4 | ||||||||||||||||||||
2012 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,218.20 | $169.60 | $4.20 | $1,392.00 | ||||||||||||||||||||
Depreciation and amortization | 128.1 | 12.8 | — | 140.9 | ||||||||||||||||||||
Operating income (loss) | 260 | 27.3 | (2.5 | ) | 284.8 | |||||||||||||||||||
Interest expense | 80.2 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (42.1 | ) | — | — | (42.1 | ) | ||||||||||||||||||
Income taxes | 94.6 | |||||||||||||||||||||||
Earnings available for common stock | 162.4 | |||||||||||||||||||||||
Total assets | 3,937.90 | 335.3 | 489.4 | 4,762.60 | ||||||||||||||||||||
Investments in equity method subsidiaries | 264.3 | — | — | 264.3 | ||||||||||||||||||||
Construction and acquisition expenditures | 703 | 15 | — | 718 | ||||||||||||||||||||
Related_Parties
Related Parties | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||
Related Parties | RELATED PARTIES | |||||||||||||||||||||||
Service Agreements - IPL and WPL are parties to service agreements with an affiliate, Corporate Services. Pursuant to these service agreements, IPL and WPL receive various administrative and general services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO and PJM. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO and PJM. The amounts billed for services provided, sales credited and purchases were as follows (in millions): | ||||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Corporate Services billings | $148 | $140 | $129 | $116 | $103 | $102 | ||||||||||||||||||
Sales credited | 8 | 7 | 10 | 6 | 12 | 14 | ||||||||||||||||||
Purchases billed | 422 | 365 | 301 | 125 | 68 | 61 | ||||||||||||||||||
As of December 31, net intercompany payables to Corporate Services were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
IPL | $84 | $62 | ||||||||||||||||||||||
WPL | 58 | 46 | ||||||||||||||||||||||
ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
ATC billings to WPL | $96 | $96 | $90 | |||||||||||||||||||||
WPL billings to ATC | 9 | 12 | 11 | |||||||||||||||||||||
As of December 31, 2014 and 2013, WPL owed ATC net amounts of $8 million and $8 million, respectively. | ||||||||||||||||||||||||
WPL’s Sheboygan Falls Lease - Refer to Note 10(b) for discussion of WPL’s Sheboygan Falls lease. | ||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||
Related Parties | RELATED PARTIES | |||||||||||||||||||||||
Service Agreements - IPL and WPL are parties to service agreements with an affiliate, Corporate Services. Pursuant to these service agreements, IPL and WPL receive various administrative and general services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO and PJM. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO and PJM. The amounts billed for services provided, sales credited and purchases were as follows (in millions): | ||||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Corporate Services billings | $148 | $140 | $129 | $116 | $103 | $102 | ||||||||||||||||||
Sales credited | 8 | 7 | 10 | 6 | 12 | 14 | ||||||||||||||||||
Purchases billed | 422 | 365 | 301 | 125 | 68 | 61 | ||||||||||||||||||
As of December 31, net intercompany payables to Corporate Services were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
IPL | $84 | $62 | ||||||||||||||||||||||
WPL | 58 | 46 | ||||||||||||||||||||||
ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
ATC billings to WPL | $96 | $96 | $90 | |||||||||||||||||||||
WPL billings to ATC | 9 | 12 | 11 | |||||||||||||||||||||
As of December 31, 2014 and 2013, WPL owed ATC net amounts of $8 million and $8 million, respectively. | ||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||
Related Parties | RELATED PARTIES | |||||||||||||||||||||||
Service Agreements - IPL and WPL are parties to service agreements with an affiliate, Corporate Services. Pursuant to these service agreements, IPL and WPL receive various administrative and general services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO and PJM. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO and PJM. The amounts billed for services provided, sales credited and purchases were as follows (in millions): | ||||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Corporate Services billings | $148 | $140 | $129 | $116 | $103 | $102 | ||||||||||||||||||
Sales credited | 8 | 7 | 10 | 6 | 12 | 14 | ||||||||||||||||||
Purchases billed | 422 | 365 | 301 | 125 | 68 | 61 | ||||||||||||||||||
As of December 31, net intercompany payables to Corporate Services were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
IPL | $84 | $62 | ||||||||||||||||||||||
WPL | 58 | 46 | ||||||||||||||||||||||
ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties were as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
ATC billings to WPL | $96 | $96 | $90 | |||||||||||||||||||||
WPL billings to ATC | 9 | 12 | 11 | |||||||||||||||||||||
As of December 31, 2014 and 2013, WPL owed ATC net amounts of $8 million and $8 million, respectively. | ||||||||||||||||||||||||
WPL’s Sheboygan Falls Lease - Refer to Note 10(b) for discussion of WPL’s Sheboygan Falls lease. |
Discontinued_Operations_and_As
Discontinued Operations and Assets and Liabilities Held For Sale | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
Discontinued Operations | DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE | |||||||||||
In January 2013, Alliant Energy sold RMT to narrow its strategic focus and risk profile. The operating results of RMT have been separately classified and reported as discontinued operations in Alliant Energy’s income statements. A summary of the components of discontinued operations in Alliant Energy’s income statements was as follows (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Operating revenues | $— | $0.90 | $289.20 | |||||||||
Operating expenses | 3.7 | 9.9 | 297 | |||||||||
Interest expense and other | — | — | 0.7 | |||||||||
Loss before income taxes | (3.7 | ) | (9.0 | ) | (8.5 | ) | ||||||
Income tax benefit | (1.3 | ) | (3.1 | ) | (3.4 | ) | ||||||
Loss from discontinued operations, net of tax | ($2.4 | ) | ($5.9 | ) | ($5.1 | ) | ||||||
Refer to Note 16(d) for further discussion of RMT. | ||||||||||||
In December 2014, the MPUC issued an order approving the proposed sale of IPL’s Minnesota natural gas distribution assets. As a result, these assets qualified as held for sale as of December 31, 2014. As of December 31, 2014, Alliant Energy’s and IPL’s balance sheets included assets held for sale recorded in “Other current assets” and liabilities held for sale recorded in “Other current liabilities” as follows (in millions): | ||||||||||||
Assets held for sale: | ||||||||||||
Current assets | $1.10 | |||||||||||
Property, plant and equipment, net | 11 | |||||||||||
Other assets | 7 | |||||||||||
Total assets held for sale | 19.1 | |||||||||||
Liabilities held for sale: | ||||||||||||
Current liabilities | 1 | |||||||||||
Other liabilities | 7.1 | |||||||||||
Total liabilities held for sale | 8.1 | |||||||||||
Net assets held for sale | $11.00 | |||||||||||
The operating results of IPL’s Minnesota natural gas distribution assets have not been separately classified and reported as discontinued operations in Alliant Energy’s and IPL’s income statements. Refer to Note 1(p) for discussion of Alliant Energy’s and IPL’s evaluation of discontinued operations related to these assets. Refer to Note 3 for further discussion of IPL’s anticipated sale of its Minnesota natural gas distribution assets. | ||||||||||||
IPL [Member] | ||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
Discontinued Operations | DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE | |||||||||||
In January 2013, Alliant Energy sold RMT to narrow its strategic focus and risk profile. The operating results of RMT have been separately classified and reported as discontinued operations in Alliant Energy’s income statements. A summary of the components of discontinued operations in Alliant Energy’s income statements was as follows (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Operating revenues | $— | $0.90 | $289.20 | |||||||||
Operating expenses | 3.7 | 9.9 | 297 | |||||||||
Interest expense and other | — | — | 0.7 | |||||||||
Loss before income taxes | (3.7 | ) | (9.0 | ) | (8.5 | ) | ||||||
Income tax benefit | (1.3 | ) | (3.1 | ) | (3.4 | ) | ||||||
Loss from discontinued operations, net of tax | ($2.4 | ) | ($5.9 | ) | ($5.1 | ) | ||||||
Refer to Note 16(d) for further discussion of RMT. | ||||||||||||
In December 2014, the MPUC issued an order approving the proposed sale of IPL’s Minnesota natural gas distribution assets. As a result, these assets qualified as held for sale as of December 31, 2014. As of December 31, 2014, Alliant Energy’s and IPL’s balance sheets included assets held for sale recorded in “Other current assets” and liabilities held for sale recorded in “Other current liabilities” as follows (in millions): | ||||||||||||
Assets held for sale: | ||||||||||||
Current assets | $1.10 | |||||||||||
Property, plant and equipment, net | 11 | |||||||||||
Other assets | 7 | |||||||||||
Total assets held for sale | 19.1 | |||||||||||
Liabilities held for sale: | ||||||||||||
Current liabilities | 1 | |||||||||||
Other liabilities | 7.1 | |||||||||||
Total liabilities held for sale | 8.1 | |||||||||||
Net assets held for sale | $11.00 | |||||||||||
The operating results of IPL’s Minnesota natural gas distribution assets have not been separately classified and reported as discontinued operations in Alliant Energy’s and IPL’s income statements. Refer to Note 1(p) for discussion of Alliant Energy’s and IPL’s evaluation of discontinued operations related to these assets. Refer to Note 3 for further discussion of IPL’s anticipated sale of its Minnesota natural gas distribution assets. |
Selected_Consolidated_Quarterl
Selected Consolidated Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Selected Consolidated Quarterly Financial Data (Unaudited) | SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED) | |||||||||||||||||||||||||||||||
Alliant Energy - All “per share” references refer to earnings per diluted share. Summation of the individual quarters may not equal annual totals due to rounding. Refer to Note 19 for additional information on discontinued operations. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions, except per share data) | ||||||||||||||||||||||||||||||||
Operating revenues | $952.80 | $750.30 | $843.10 | $804.10 | $859.60 | $718.00 | $866.60 | $832.60 | ||||||||||||||||||||||||
Operating income | 154.2 | 103.3 | 194.8 | 91.3 | 120.7 | 103.2 | 201.4 | 108.6 | ||||||||||||||||||||||||
Amounts attributable to Alliant Energy common shareowners: | ||||||||||||||||||||||||||||||||
Income from continuing operations, net of tax | 108 | 62.1 | 155.2 | 60.2 | 72.9 | 65.9 | 158.9 | 66.5 | ||||||||||||||||||||||||
Loss from discontinued operations, net of tax | — | (0.3 | ) | (1.9 | ) | (0.2 | ) | (3.0 | ) | (0.6 | ) | (1.3 | ) | (1.0 | ) | |||||||||||||||||
Net income | 108 | 61.8 | 153.3 | 60 | 69.9 | 65.3 | 157.6 | 65.5 | ||||||||||||||||||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners: | ||||||||||||||||||||||||||||||||
Income from continuing operations, net of tax | 0.97 | 0.56 | 1.4 | 0.54 | 0.66 | 0.59 | 1.43 | 0.6 | ||||||||||||||||||||||||
Loss from discontinued operations, net of tax | — | — | (0.02 | ) | — | (0.03 | ) | — | (0.01 | ) | (0.01 | ) | ||||||||||||||||||||
Net income | 0.97 | 0.56 | 1.38 | 0.54 | 0.63 | 0.59 | 1.42 | 0.59 | ||||||||||||||||||||||||
IPL - Earnings per share data is not disclosed for IPL given Alliant Energy is the sole shareowner of all shares of IPL’s common stock outstanding during the periods presented. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Operating revenues | $528.90 | $411.90 | $476.20 | $431.10 | $477.90 | $383.40 | $494.40 | $463.10 | ||||||||||||||||||||||||
Operating income | 57.5 | 34 | 93.9 | 23.8 | 41.1 | 34.7 | 100 | 36.2 | ||||||||||||||||||||||||
Net income | 46 | 20.9 | 105.1 | 22.6 | 31.5 | 24.7 | 112.6 | 21.1 | ||||||||||||||||||||||||
Earnings available for common stock | 43.4 | 18.4 | 102.5 | 20.1 | 22.9 | 22.2 | 110 | 18.5 | ||||||||||||||||||||||||
WPL - Earnings per share data is not disclosed for WPL given Alliant Energy is the sole shareowner of all shares of WPL’s common stock outstanding during the periods presented. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Operating revenues | $410.40 | $324.50 | $354.40 | $359.80 | $369.80 | $319.90 | $360.90 | $355.70 | ||||||||||||||||||||||||
Operating income | 87.7 | 60 | 93.9 | 59.4 | 72.7 | 59.7 | 95.9 | 67.8 | ||||||||||||||||||||||||
Net income | 54.8 | 34.6 | 61.6 | 29.8 | 43.6 | 34.4 | 61.3 | 38.2 | ||||||||||||||||||||||||
Earnings available for common stock | 54.8 | 34.6 | 61.6 | 29.1 | 42 | 34.4 | 61.3 | 38.2 | ||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||
Selected Consolidated Quarterly Financial Data (Unaudited) | SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED) | |||||||||||||||||||||||||||||||
Alliant Energy - All “per share” references refer to earnings per diluted share. Summation of the individual quarters may not equal annual totals due to rounding. Refer to Note 19 for additional information on discontinued operations. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions, except per share data) | ||||||||||||||||||||||||||||||||
Operating revenues | $952.80 | $750.30 | $843.10 | $804.10 | $859.60 | $718.00 | $866.60 | $832.60 | ||||||||||||||||||||||||
Operating income | 154.2 | 103.3 | 194.8 | 91.3 | 120.7 | 103.2 | 201.4 | 108.6 | ||||||||||||||||||||||||
Amounts attributable to Alliant Energy common shareowners: | ||||||||||||||||||||||||||||||||
Income from continuing operations, net of tax | 108 | 62.1 | 155.2 | 60.2 | 72.9 | 65.9 | 158.9 | 66.5 | ||||||||||||||||||||||||
Loss from discontinued operations, net of tax | — | (0.3 | ) | (1.9 | ) | (0.2 | ) | (3.0 | ) | (0.6 | ) | (1.3 | ) | (1.0 | ) | |||||||||||||||||
Net income | 108 | 61.8 | 153.3 | 60 | 69.9 | 65.3 | 157.6 | 65.5 | ||||||||||||||||||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners: | ||||||||||||||||||||||||||||||||
Income from continuing operations, net of tax | 0.97 | 0.56 | 1.4 | 0.54 | 0.66 | 0.59 | 1.43 | 0.6 | ||||||||||||||||||||||||
Loss from discontinued operations, net of tax | — | — | (0.02 | ) | — | (0.03 | ) | — | (0.01 | ) | (0.01 | ) | ||||||||||||||||||||
Net income | 0.97 | 0.56 | 1.38 | 0.54 | 0.63 | 0.59 | 1.42 | 0.59 | ||||||||||||||||||||||||
IPL - Earnings per share data is not disclosed for IPL given Alliant Energy is the sole shareowner of all shares of IPL’s common stock outstanding during the periods presented. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Operating revenues | $528.90 | $411.90 | $476.20 | $431.10 | $477.90 | $383.40 | $494.40 | $463.10 | ||||||||||||||||||||||||
Operating income | 57.5 | 34 | 93.9 | 23.8 | 41.1 | 34.7 | 100 | 36.2 | ||||||||||||||||||||||||
Net income | 46 | 20.9 | 105.1 | 22.6 | 31.5 | 24.7 | 112.6 | 21.1 | ||||||||||||||||||||||||
Earnings available for common stock | 43.4 | 18.4 | 102.5 | 20.1 | 22.9 | 22.2 | 110 | 18.5 | ||||||||||||||||||||||||
WPL - Earnings per share data is not disclosed for WPL given Alliant Energy is the sole shareowner of all shares of WPL’s common stock outstanding during the periods presented. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Operating revenues | $410.40 | $324.50 | $354.40 | $359.80 | $369.80 | $319.90 | $360.90 | $355.70 | ||||||||||||||||||||||||
Operating income | 87.7 | 60 | 93.9 | 59.4 | 72.7 | 59.7 | 95.9 | 67.8 | ||||||||||||||||||||||||
Net income | 54.8 | 34.6 | 61.6 | 29.8 | 43.6 | 34.4 | 61.3 | 38.2 | ||||||||||||||||||||||||
Earnings available for common stock | 54.8 | 34.6 | 61.6 | 29.1 | 42 | 34.4 | 61.3 | 38.2 | ||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||
Selected Consolidated Quarterly Financial Data (Unaudited) | SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED) | |||||||||||||||||||||||||||||||
Alliant Energy - All “per share” references refer to earnings per diluted share. Summation of the individual quarters may not equal annual totals due to rounding. Refer to Note 19 for additional information on discontinued operations. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions, except per share data) | ||||||||||||||||||||||||||||||||
Operating revenues | $952.80 | $750.30 | $843.10 | $804.10 | $859.60 | $718.00 | $866.60 | $832.60 | ||||||||||||||||||||||||
Operating income | 154.2 | 103.3 | 194.8 | 91.3 | 120.7 | 103.2 | 201.4 | 108.6 | ||||||||||||||||||||||||
Amounts attributable to Alliant Energy common shareowners: | ||||||||||||||||||||||||||||||||
Income from continuing operations, net of tax | 108 | 62.1 | 155.2 | 60.2 | 72.9 | 65.9 | 158.9 | 66.5 | ||||||||||||||||||||||||
Loss from discontinued operations, net of tax | — | (0.3 | ) | (1.9 | ) | (0.2 | ) | (3.0 | ) | (0.6 | ) | (1.3 | ) | (1.0 | ) | |||||||||||||||||
Net income | 108 | 61.8 | 153.3 | 60 | 69.9 | 65.3 | 157.6 | 65.5 | ||||||||||||||||||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners: | ||||||||||||||||||||||||||||||||
Income from continuing operations, net of tax | 0.97 | 0.56 | 1.4 | 0.54 | 0.66 | 0.59 | 1.43 | 0.6 | ||||||||||||||||||||||||
Loss from discontinued operations, net of tax | — | — | (0.02 | ) | — | (0.03 | ) | — | (0.01 | ) | (0.01 | ) | ||||||||||||||||||||
Net income | 0.97 | 0.56 | 1.38 | 0.54 | 0.63 | 0.59 | 1.42 | 0.59 | ||||||||||||||||||||||||
IPL - Earnings per share data is not disclosed for IPL given Alliant Energy is the sole shareowner of all shares of IPL’s common stock outstanding during the periods presented. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Operating revenues | $528.90 | $411.90 | $476.20 | $431.10 | $477.90 | $383.40 | $494.40 | $463.10 | ||||||||||||||||||||||||
Operating income | 57.5 | 34 | 93.9 | 23.8 | 41.1 | 34.7 | 100 | 36.2 | ||||||||||||||||||||||||
Net income | 46 | 20.9 | 105.1 | 22.6 | 31.5 | 24.7 | 112.6 | 21.1 | ||||||||||||||||||||||||
Earnings available for common stock | 43.4 | 18.4 | 102.5 | 20.1 | 22.9 | 22.2 | 110 | 18.5 | ||||||||||||||||||||||||
WPL - Earnings per share data is not disclosed for WPL given Alliant Energy is the sole shareowner of all shares of WPL’s common stock outstanding during the periods presented. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Operating revenues | $410.40 | $324.50 | $354.40 | $359.80 | $369.80 | $319.90 | $360.90 | $355.70 | ||||||||||||||||||||||||
Operating income | 87.7 | 60 | 93.9 | 59.4 | 72.7 | 59.7 | 95.9 | 67.8 | ||||||||||||||||||||||||
Net income | 54.8 | 34.6 | 61.6 | 29.8 | 43.6 | 34.4 | 61.3 | 38.2 | ||||||||||||||||||||||||
Earnings available for common stock | 54.8 | 34.6 | 61.6 | 29.1 | 42 | 34.4 | 61.3 | 38.2 | ||||||||||||||||||||||||
Condensed_Parent_Company_Finan
Condensed Parent Company Financial Statements | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||||||
Condensed Parent Company Financial Statements | SCHEDULE I - CONDENSED PARENT COMPANY FINANCIAL STATEMENTS | |||||||||||
ALLIANT ENERGY CORPORATION | ||||||||||||
(Parent Company Only) | ||||||||||||
CONDENSED STATEMENTS OF INCOME | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in millions) | ||||||||||||
Operating revenues | $2 | $2 | $2 | |||||||||
Operating expenses | 3 | 1 | 1 | |||||||||
Operating income (loss) | (1 | ) | 1 | 1 | ||||||||
Interest expense and other: | ||||||||||||
Equity earnings from consolidated subsidiaries | (387 | ) | (362 | ) | (322 | ) | ||||||
Interest expense | 9 | 11 | 11 | |||||||||
Interest income | (2 | ) | (2 | ) | (4 | ) | ||||||
Total interest expense and other | (380 | ) | (353 | ) | (315 | ) | ||||||
Income before income taxes | 379 | 354 | 316 | |||||||||
Income tax benefit | (4 | ) | (4 | ) | (4 | ) | ||||||
Net income | $383 | $358 | $320 | |||||||||
The accompanying Notes to Condensed Financial Statements are an integral part of these statements. | ||||||||||||
ALLIANT ENERGY CORPORATION | ||||||||||||
(Parent Company Only) | ||||||||||||
CONDENSED BALANCE SHEETS | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
(in millions) | ||||||||||||
ASSETS | ||||||||||||
Current assets: | ||||||||||||
Notes receivable from affiliated companies | $95 | $72 | ||||||||||
Other | 4 | 3 | ||||||||||
99 | 75 | |||||||||||
Investments: | ||||||||||||
Investments in consolidated subsidiaries | 3,753 | 3,585 | ||||||||||
Other | 15 | 14 | ||||||||||
3,768 | 3,599 | |||||||||||
Other assets | 10 | 6 | ||||||||||
Total assets | $3,877 | $3,680 | ||||||||||
The accompanying Notes to Condensed Financial Statements are an integral part of these statements. | ||||||||||||
ALLIANT ENERGY CORPORATION | ||||||||||||
(Parent Company Only) | ||||||||||||
CONDENSED BALANCE SHEETS (continued) | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
(in millions) | ||||||||||||
LIABILITIES AND EQUITY | ||||||||||||
Current liabilities: | ||||||||||||
Current maturities of long-term debt | $— | $250 | ||||||||||
Commercial paper | 141 | 96 | ||||||||||
Other | 29 | 10 | ||||||||||
170 | 356 | |||||||||||
Long-term debt, net | 250 | — | ||||||||||
Other liabilities: | ||||||||||||
Deferred income taxes | 11 | 39 | ||||||||||
Other | 11 | 7 | ||||||||||
22 | 46 | |||||||||||
Common equity: | ||||||||||||
Common stock and additional paid-in capital | 1,510 | 1,509 | ||||||||||
Retained earnings | 1,934 | 1,777 | ||||||||||
Shares in deferred compensation trust | (9 | ) | (8 | ) | ||||||||
3,435 | 3,278 | |||||||||||
Total liabilities and equity | $3,877 | $3,680 | ||||||||||
The accompanying Notes to Condensed Financial Statements are an integral part of these statements. | ||||||||||||
ALLIANT ENERGY CORPORATION | ||||||||||||
(Parent Company Only) | ||||||||||||
CONDENSED STATEMENTS OF CASH FLOWS | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in millions) | ||||||||||||
Net cash flows from operating activities | $246 | $238 | $260 | |||||||||
Cash flows used for investing activities: | ||||||||||||
Capital contributions to consolidated subsidiaries | (90 | ) | (120 | ) | (230 | ) | ||||||
Capital repayments from consolidated subsidiaries | 50 | 95 | — | |||||||||
Net change in notes receivable from affiliates | (23 | ) | 5 | 134 | ||||||||
Other | — | (2 | ) | 1 | ||||||||
Net cash flows used for investing activities | (63 | ) | (22 | ) | (95 | ) | ||||||
Cash flows used for financing activities: | ||||||||||||
Common stock dividends | (226 | ) | (208 | ) | (199 | ) | ||||||
Proceeds from issuance of long-term debt | 250 | — | — | |||||||||
Payments to retire long-term debt | (250 | ) | — | — | ||||||||
Net change in commercial paper | 45 | (9 | ) | 35 | ||||||||
Other | (2 | ) | 1 | (1 | ) | |||||||
Net cash flows used for financing activities | (183 | ) | (216 | ) | (165 | ) | ||||||
Net decrease in cash and cash equivalents | — | — | — | |||||||||
Cash and cash equivalents at beginning of period | — | — | — | |||||||||
Cash and cash equivalents at end of period | $— | $— | $— | |||||||||
Supplemental cash flows information: | ||||||||||||
Cash (paid) refunded during the period for: | ||||||||||||
Interest, net of capitalized interest | ($11 | ) | ($13 | ) | ($11 | ) | ||||||
Income taxes, net | (5 | ) | (7 | ) | 29 | |||||||
The accompanying Notes to Condensed Financial Statements are an integral part of these statements. | ||||||||||||
ALLIANT ENERGY CORPORATION | ||||||||||||
(Parent Company Only) | ||||||||||||
NOTES TO CONDENSED FINANCIAL STATEMENTS | ||||||||||||
Pursuant to rules and regulations of the SEC, the Condensed Financial Statements of Alliant Energy Corporation (Parent Company Only) do not reflect all of the information and notes normally included with financial statements prepared in accordance with GAAP. Therefore, these Condensed Financial Statements should be read in conjunction with the Financial Statements and related Notes included in Alliant Energy’s 2014 Form 10-K, Part II, Item 8, which is incorporated herein by reference. | ||||||||||||
In the Condensed Financial Statements of Alliant Energy Corporation (Parent Company Only), investments in subsidiaries are accounted for using the equity method. |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts And Reserves | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||||||||||||||||
Valuation and Qualifying Accounts And Reserves | SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | ||||||||||||||||||
Additions | |||||||||||||||||||
Balance, | Charged to | Charged to Other | Balance, | ||||||||||||||||
Description | 1-Jan | Expense | Accounts (a) | Deductions (b) | 31-Dec | ||||||||||||||
(in millions) | |||||||||||||||||||
Valuation and Qualifying Accounts Which are Deducted in the Balance Sheet From the Assets to Which They Apply: | |||||||||||||||||||
Accumulated Provision for Uncollectible Accounts: | |||||||||||||||||||
Alliant Energy (c) | |||||||||||||||||||
Year ended December 31, 2014 | $4.80 | $11.70 | $4.10 | $15.50 | $5.10 | ||||||||||||||
Year ended December 31, 2013 | 4 | 13.6 | 0.6 | 13.4 | 4.8 | ||||||||||||||
Year ended December 31, 2012 | 4.2 | 6.6 | 1.2 | 8 | 4 | ||||||||||||||
IPL (c) | |||||||||||||||||||
Year ended December 31, 2014 | $0.70 | $11.50 | $— | $11.80 | $0.40 | ||||||||||||||
Year ended December 31, 2013 | 0.7 | 12.7 | — | 12.7 | 0.7 | ||||||||||||||
Year ended December 31, 2012 | 0.9 | 6.4 | — | 6.6 | 0.7 | ||||||||||||||
WPL | |||||||||||||||||||
Year ended December 31, 2014 | $1.70 | $— | $4.10 | $1.60 | $4.20 | ||||||||||||||
Year ended December 31, 2013 | 1.8 | — | 0.6 | 0.7 | 1.7 | ||||||||||||||
Year ended December 31, 2012 | 1.9 | 0.1 | 1.2 | 1.4 | 1.8 | ||||||||||||||
Note: The above provisions relate to various customer, notes and other receivable balances included in various line items on the respective balance sheets. | |||||||||||||||||||
Other Reserves: | |||||||||||||||||||
Accumulated Provision for Other Reserves (d): | |||||||||||||||||||
Alliant Energy | |||||||||||||||||||
Year ended December 31, 2014 | $38.20 | $12.50 | $— | $18.10 | $32.60 | ||||||||||||||
Year ended December 31, 2013 | 33.4 | 23.2 | — | 18.4 | 38.2 | ||||||||||||||
Year ended December 31, 2012 | 25.9 | 9.6 | — | 2.1 | 33.4 | ||||||||||||||
IPL | |||||||||||||||||||
Year ended December 31, 2014 | $18.10 | $3.90 | $— | $11.40 | $10.60 | ||||||||||||||
Year ended December 31, 2013 | 11.6 | 9.3 | — | 2.8 | 18.1 | ||||||||||||||
Year ended December 31, 2012 | 10.2 | 2.1 | — | 0.7 | 11.6 | ||||||||||||||
WPL | |||||||||||||||||||
Year ended December 31, 2014 | $16.20 | $2.50 | $— | $2.40 | $16.30 | ||||||||||||||
Year ended December 31, 2013 | 13.5 | 8.8 | — | 6.1 | 16.2 | ||||||||||||||
Year ended December 31, 2012 | 11.7 | 3.1 | — | 1.3 | 13.5 | ||||||||||||||
(a) | Accumulated provision for uncollectible accounts: In accordance with its regulatory treatment, certain amounts provided by WPL are recorded in regulatory assets. | ||||||||||||||||||
(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. | ||||||||||||||||||
IPL [Member] | |||||||||||||||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||||||||||||||||
Valuation and Qualifying Accounts And Reserves | SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | ||||||||||||||||||
Additions | |||||||||||||||||||
Balance, | Charged to | Charged to Other | Balance, | ||||||||||||||||
Description | 1-Jan | Expense | Accounts (a) | Deductions (b) | 31-Dec | ||||||||||||||
(in millions) | |||||||||||||||||||
Valuation and Qualifying Accounts Which are Deducted in the Balance Sheet From the Assets to Which They Apply: | |||||||||||||||||||
Accumulated Provision for Uncollectible Accounts: | |||||||||||||||||||
Alliant Energy (c) | |||||||||||||||||||
Year ended December 31, 2014 | $4.80 | $11.70 | $4.10 | $15.50 | $5.10 | ||||||||||||||
Year ended December 31, 2013 | 4 | 13.6 | 0.6 | 13.4 | 4.8 | ||||||||||||||
Year ended December 31, 2012 | 4.2 | 6.6 | 1.2 | 8 | 4 | ||||||||||||||
IPL (c) | |||||||||||||||||||
Year ended December 31, 2014 | $0.70 | $11.50 | $— | $11.80 | $0.40 | ||||||||||||||
Year ended December 31, 2013 | 0.7 | 12.7 | — | 12.7 | 0.7 | ||||||||||||||
Year ended December 31, 2012 | 0.9 | 6.4 | — | 6.6 | 0.7 | ||||||||||||||
WPL | |||||||||||||||||||
Year ended December 31, 2014 | $1.70 | $— | $4.10 | $1.60 | $4.20 | ||||||||||||||
Year ended December 31, 2013 | 1.8 | — | 0.6 | 0.7 | 1.7 | ||||||||||||||
Year ended December 31, 2012 | 1.9 | 0.1 | 1.2 | 1.4 | 1.8 | ||||||||||||||
Note: The above provisions relate to various customer, notes and other receivable balances included in various line items on the respective balance sheets. | |||||||||||||||||||
Other Reserves: | |||||||||||||||||||
Accumulated Provision for Other Reserves (d): | |||||||||||||||||||
Alliant Energy | |||||||||||||||||||
Year ended December 31, 2014 | $38.20 | $12.50 | $— | $18.10 | $32.60 | ||||||||||||||
Year ended December 31, 2013 | 33.4 | 23.2 | — | 18.4 | 38.2 | ||||||||||||||
Year ended December 31, 2012 | 25.9 | 9.6 | — | 2.1 | 33.4 | ||||||||||||||
IPL | |||||||||||||||||||
Year ended December 31, 2014 | $18.10 | $3.90 | $— | $11.40 | $10.60 | ||||||||||||||
Year ended December 31, 2013 | 11.6 | 9.3 | — | 2.8 | 18.1 | ||||||||||||||
Year ended December 31, 2012 | 10.2 | 2.1 | — | 0.7 | 11.6 | ||||||||||||||
WPL | |||||||||||||||||||
Year ended December 31, 2014 | $16.20 | $2.50 | $— | $2.40 | $16.30 | ||||||||||||||
Year ended December 31, 2013 | 13.5 | 8.8 | — | 6.1 | 16.2 | ||||||||||||||
Year ended December 31, 2012 | 11.7 | 3.1 | — | 1.3 | 13.5 | ||||||||||||||
(a) | Accumulated provision for uncollectible accounts: In accordance with its regulatory treatment, certain amounts provided by WPL are recorded in regulatory assets. | ||||||||||||||||||
(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. | ||||||||||||||||||
WPL [Member] | |||||||||||||||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||||||||||||||||||
Valuation and Qualifying Accounts And Reserves | SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | ||||||||||||||||||
Additions | |||||||||||||||||||
Balance, | Charged to | Charged to Other | Balance, | ||||||||||||||||
Description | 1-Jan | Expense | Accounts (a) | Deductions (b) | 31-Dec | ||||||||||||||
(in millions) | |||||||||||||||||||
Valuation and Qualifying Accounts Which are Deducted in the Balance Sheet From the Assets to Which They Apply: | |||||||||||||||||||
Accumulated Provision for Uncollectible Accounts: | |||||||||||||||||||
Alliant Energy (c) | |||||||||||||||||||
Year ended December 31, 2014 | $4.80 | $11.70 | $4.10 | $15.50 | $5.10 | ||||||||||||||
Year ended December 31, 2013 | 4 | 13.6 | 0.6 | 13.4 | 4.8 | ||||||||||||||
Year ended December 31, 2012 | 4.2 | 6.6 | 1.2 | 8 | 4 | ||||||||||||||
IPL (c) | |||||||||||||||||||
Year ended December 31, 2014 | $0.70 | $11.50 | $— | $11.80 | $0.40 | ||||||||||||||
Year ended December 31, 2013 | 0.7 | 12.7 | — | 12.7 | 0.7 | ||||||||||||||
Year ended December 31, 2012 | 0.9 | 6.4 | — | 6.6 | 0.7 | ||||||||||||||
WPL | |||||||||||||||||||
Year ended December 31, 2014 | $1.70 | $— | $4.10 | $1.60 | $4.20 | ||||||||||||||
Year ended December 31, 2013 | 1.8 | — | 0.6 | 0.7 | 1.7 | ||||||||||||||
Year ended December 31, 2012 | 1.9 | 0.1 | 1.2 | 1.4 | 1.8 | ||||||||||||||
Note: The above provisions relate to various customer, notes and other receivable balances included in various line items on the respective balance sheets. | |||||||||||||||||||
Other Reserves: | |||||||||||||||||||
Accumulated Provision for Other Reserves (d): | |||||||||||||||||||
Alliant Energy | |||||||||||||||||||
Year ended December 31, 2014 | $38.20 | $12.50 | $— | $18.10 | $32.60 | ||||||||||||||
Year ended December 31, 2013 | 33.4 | 23.2 | — | 18.4 | 38.2 | ||||||||||||||
Year ended December 31, 2012 | 25.9 | 9.6 | — | 2.1 | 33.4 | ||||||||||||||
IPL | |||||||||||||||||||
Year ended December 31, 2014 | $18.10 | $3.90 | $— | $11.40 | $10.60 | ||||||||||||||
Year ended December 31, 2013 | 11.6 | 9.3 | — | 2.8 | 18.1 | ||||||||||||||
Year ended December 31, 2012 | 10.2 | 2.1 | — | 0.7 | 11.6 | ||||||||||||||
WPL | |||||||||||||||||||
Year ended December 31, 2014 | $16.20 | $2.50 | $— | $2.40 | $16.30 | ||||||||||||||
Year ended December 31, 2013 | 13.5 | 8.8 | — | 6.1 | 16.2 | ||||||||||||||
Year ended December 31, 2012 | 11.7 | 3.1 | — | 1.3 | 13.5 | ||||||||||||||
(a) | Accumulated provision for uncollectible accounts: In accordance with its regulatory treatment, certain amounts provided by WPL are recorded in regulatory assets. | ||||||||||||||||||
(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. |
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||
General, Basis of Presentation | The financial statements reflect investments in controlled subsidiaries on a consolidated basis and Alliant Energy’s, IPL’s and WPL’s proportionate shares of jointly-owned utility EGUs. Unconsolidated investments, which Alliant Energy and WPL do not control, but do have the ability to exercise significant influence over operating and financial policies, are accounted for under the equity method of accounting. Investments that do not meet the criteria for consolidation or the equity method of accounting are accounted for under the cost method. Refer to Notes 1(n) and 6(a) for further discussion of VIEs and equity method investments, respectively. | |||||||||||
All intercompany balances and transactions, other than certain transactions affecting the rate-making process at IPL and WPL, have been eliminated from the financial statements. Such transactions not eliminated include costs that are recoverable from customers through rate-making processes. | ||||||||||||
General, Basis of Accounting | The financial statements are prepared in conformity with GAAP, which give recognition to the rate-making and accounting practices of FERC and state commissions having regulatory jurisdiction. | |||||||||||
General, Reclassification | Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. The balance sheets presentation changed from a utility format to a traditional format. This change revised the order of certain balance sheet line items and did not result in any changes in classification of amounts between line items. Unless otherwise noted, the notes herein exclude discontinued operations for all periods presented, and assets and liabilities held for sale as of December 31, 2014. | |||||||||||
General, Use of Estimates | The preparation of the financial statements requires management to make estimates and assumptions that affect: (a) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (b) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||
Regulatory Assets and Regulatory Liabilities | Alliant Energy, IPL and WPL are subject to regulation by FERC and various state regulatory commissions. As a result, Alliant Energy, IPL and WPL are subject to GAAP provisions for regulated operations, which provide that rate-regulated public utilities record certain costs and credits allowed in the rate-making process in different periods than for non-regulated entities. Regulatory assets generally represent incurred costs that have been deferred as such costs are probable of recovery in future customer rates. Regulatory liabilities generally represent obligations to make refunds to customers or amounts collected in rates for which the related costs have not yet been incurred. Amounts deferred as regulatory assets or accrued as regulatory liabilities are generally recognized in the income statements at the time they are reflected in rates. | |||||||||||
Income Taxes | The liability method of accounting is followed for deferred income taxes, which requires the establishment of deferred income tax assets and liabilities, as appropriate, for temporary differences between the tax basis of assets and liabilities and the amounts reported in the financial statements. Deferred income taxes are recorded using currently enacted tax rates and estimates of state apportionment rates. Changes in deferred income tax assets and liabilities associated with certain property-related differences at IPL are accounted for differently than other subsidiaries of Alliant Energy due to rate-making practices in Iowa. Rate-making practices in Iowa do not include the impact of certain deferred tax expenses (benefits) in the determination of retail rates. Based on these rate-making practices, deferred tax expense (benefit) related to these property-related differences at IPL is not recorded in the income statement but instead recorded to regulatory assets or regulatory liabilities until these temporary differences reverse. Refer to Note 2 for further discussion of regulatory assets and regulatory liabilities associated with property-related differences at IPL. In Wisconsin, the PSCW has allowed rate recovery of deferred tax expense on all temporary differences since 1991. | |||||||||||
Investment tax credits are deferred and amortized to income over the average lives of the related property. Other tax credits reduce income tax expense in the year claimed. | ||||||||||||
The alternative transition method has been elected to calculate the beginning pool of excess tax benefits available to absorb any tax deficiencies associated with recognition of share-based payment awards. | ||||||||||||
Alliant Energy files a consolidated federal income tax return, which includes the aggregate taxable income or loss of Alliant Energy and its subsidiaries. In addition, a combined return including Alliant Energy and all of its subsidiaries is filed in Wisconsin. Alliant Energy subsidiaries with a presence in Iowa file as part of a consolidated return in Iowa. Under the terms of a tax sharing agreement between Alliant Energy and its subsidiaries, IPL and WPL calculate state income tax using consolidated apportionment rates applied to separate company taxable income. | ||||||||||||
Cash and Cash Equivalents | Cash and cash equivalents include short-term liquid investments that have original maturities of less than 90 days. | |||||||||||
Property, Plant and Equipment | Utility Plant - | |||||||||||
General - Utility plant is recorded at the original cost of acquisition or construction, which includes material, labor, contractor services, AFUDC and allocable overheads, such as supervision, engineering, benefits, certain taxes and transportation. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Ordinary retirements of utility plant and salvage value are netted and charged to accumulated depreciation upon removal from utility plant accounts and no gain or loss is recognized consistent with rate-making policies. Removal costs incurred reduce the regulatory liability. Property, plant and equipment that is probable of being retired early is classified as plant anticipated to be retired early. | ||||||||||||
Non-utility Property - | ||||||||||||
General - Non-utility property is recorded at the original cost of acquisition or construction, which includes material, labor and contractor services. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Upon retirement or sale of non-utility property, the original cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in the income statements. | ||||||||||||
Depreciation | IPL and WPL use a combination of remaining life and straight-line depreciation methods as approved by their respective regulatory commissions. The composite or group method of depreciation is used, in which a single depreciation rate is applied to the gross investment in a particular class of property. This method pools similar assets and then depreciates each group as a whole. Periodic depreciation studies are performed to determine the appropriate group lives, net salvage, estimated cost of removal and group depreciation rates. These depreciation studies are subject to review and approval by IPL’s and WPL’s respective regulatory commissions. Depreciation expense is included within the recoverable cost of service component of rates charged to customers. The average rates of depreciation for electric, gas and other properties, consistent with current rate-making practices, were as follows: | |||||||||||
IPL | WPL | |||||||||||
2014 | 2013 | 2012 | 2014 | 2013 (a) | 2012 | |||||||
Electric - generation | 3.60% | 3.60% | 3.70% | 3.20% | 3.30% | 3.20% | ||||||
Electric - distribution | 2.50% | 2.50% | 2.50% | 2.70% | 2.70% | 2.90% | ||||||
Gas | 3.30% | 3.40% | 3.40% | 2.50% | 2.50% | 2.60% | ||||||
Other | 4.20% | 4.40% | 4.50% | 6.00% | 5.10% | 5.30% | ||||||
(a) | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPL’s requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. | |||||||||||
AFUDC | AFUDC represents costs to finance construction additions including a return on equity component and cost of debt component as required by regulatory accounting. AFUDC for IPL’s construction projects is calculated in accordance with FERC guidelines. AFUDC for WPL’s retail and wholesale jurisdiction construction projects is calculated in accordance with PSCW and FERC guidelines, respectively. The AFUDC recovery rates, computed in accordance with the prescribed regulatory formula, were as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
IPL (FERC formula - Marshalltown CWIP) (a) | 8.00% | —% | —% | |||||||||
IPL (FERC formula - other CWIP) | 7.80% | 8.20% | 8.20% | |||||||||
WPL (PSCW formula - retail jurisdiction) | 8.20% | 8.20% | 8.80% | |||||||||
WPL (FERC formula - wholesale jurisdiction) | 4.10% | 4.50% | 7.90% | |||||||||
(a) | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. | |||||||||||
In accordance with their most recent rate orders, IPL applies its AFUDC recovery rates to 100% of applicable CWIP balances and WPL generally applies its AFUDC recovery rates to 50% of applicable CWIP balances. WPL may apply its AFUDC recovery rates to 100% of the retail portion of the CWIP balances for construction projects requiring a CA or CPCN that were approved by the PSCW after their most recent rate order. | ||||||||||||
Operating Revenues | Utility - Revenues from Alliant Energy’s utility business are primarily from electricity and natural gas sales and are recognized on an accrual basis as services are rendered or commodities are delivered to customers. Energy sales to individual customers are based on the reading of customers’ meters, which occurs on a systematic basis throughout each reporting period. Amounts of energy delivered to customers since the date of the last meter reading are estimated at the end of each reporting period and the corresponding estimated unbilled revenue is recorded in such reporting period. The unbilled revenue estimate is based on daily system demand volumes, estimated customer usage by class, weather impacts, line losses and the most recent customer rates. | |||||||||||
IPL and WPL accrue revenues from their wholesale customers to the extent that the actual net revenue requirements calculated in accordance with FERC-approved formula rates for the reporting period are higher or lower than the amounts billed to wholesale customers during such period. Regulatory assets or regulatory liabilities are recorded as the offset for these accrued revenues under formulaic rate-making programs. IPL’s estimated recovery amount is recorded in the current period of service and is reflected in customer bills within two years under the provisions of approved formula rates. WPL’s estimated recovery amount is recorded in the current period of service and subject to final adjustments after a customer audit period in the subsequent year. Final settled recovery amounts are reflected in WPL’s customer bills within two years under the provisions of approved formula rates. | ||||||||||||
IPL and WPL participate in bid/offer-based wholesale energy and ancillary services markets operated by MISO. IPL’s and WPL’s customers and generating resources are located in the MISO region. MISO requires that all load serving entities and generation owners, including IPL and WPL, submit hourly day-ahead and/or real-time bids and offers for energy and ancillary services. The MISO day-ahead and real-time transactions are grouped together, resulting in a net supply to or net purchase from MISO for each hour of each day. The net supply to MISO is recorded in “Electric utility operating revenues” and the net purchase from MISO is recorded in “Electric production fuel and energy purchases” in the income statements. IPL and WPL also engage in transactions in PJM’s bid/offer-based wholesale energy market, which are accounted for similar to the MISO transactions. | ||||||||||||
Non-regulated - Revenues from Alliant Energy’s non-regulated businesses are primarily from its Transportation business and are recognized on an accrual basis as services are rendered or goods are delivered to customers. | ||||||||||||
Taxes Collected from Customers - Certain of Alliant Energy’s subsidiaries serve as collection agents for sales or various other taxes and record revenues on a net basis. Operating revenues do not include the collection of the aforementioned taxes. | ||||||||||||
Utility Cost Recovery Mechanisms | Electric Production Fuel and Energy Purchases (Fuel-related Costs) - Fuel-related costs are incurred each period to generate and purchase electricity to meet the demand of IPL’s and WPL’s electric customers. These fuel-related costs include the cost of fossil fuels (primarily coal and natural gas) used during each period to produce electricity at their EGUs, electricity purchased each period from wholesale energy markets (primarily MISO) and under PPAs, costs for allowances acquired to allow certain emissions (primarily SO2 and NOx) from their EGUs and costs for chemicals utilized to control emissions from their EGUs. These fuel-related costs are recorded in “Electric production fuel and energy purchases” in the income statements. | |||||||||||
IPL Retail - The cost recovery mechanisms applicable for IPL’s retail electric customers provide for subsequent adjustments to their electric rates each month for changes in fuel-related costs. Fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction also currently allow IPL to recover prudently incurred costs for emission allowances required to comply with EPA regulations, including the Acid Rain program and CAIR, through the fuel adjustment clause. Changes in the under-/over-collection of these costs each period are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and IPL’s income statements. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction currently do not contain a provision for recovery of emission controls chemical costs to flow through the fuel adjustment clause. The fuel adjustment clause rules applicable to IPL’s Minnesota retail jurisdiction currently do not contain a provision for recovery of emission allowance costs or emission controls chemical costs through the fuel adjustment clause. | ||||||||||||
Effective February 22, 2014, IPL began recovering the Iowa retail portion of the DAEC PPA costs from its Iowa retail electric customers through the fuel adjustment clause pursuant to a January 2013 IUB order. This PPA does not contain minimum payments for electric generating capacity. | ||||||||||||
WPL Retail - The cost recovery mechanism applicable for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test year periods and fuel monitoring ranges determined by the PSCW during each electric retail rate proceeding or in a separate fuel cost plan approval proceeding. However, if WPL’s actual fuel-related costs fall outside these fuel monitoring ranges during the test period, WPL is authorized to defer the incremental under-/over-collection of fuel-related costs that are outside the approved ranges. Deferral of under-collections are reduced to the extent actual return on common equity earned by WPL during the fuel cost plan year exceeds the most recently authorized return on common equity. Deferred amounts for fuel-related costs outside the approved fuel monitoring ranges are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and WPL’s income statements each period. The cumulative effects of these deferred amounts are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. WPL’s retail fuel-related costs include costs for emission allowances and emission controls chemicals. | ||||||||||||
IPL and WPL Wholesale - The cost recovery mechanisms applicable for IPL’s and WPL’s wholesale electric customers provide for subsequent adjustments to their electric rates for changes in fuel-related costs. Changes in the under-/over-collection of these costs are recognized in “Electric production fuel and energy purchases” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. IPL’s and WPL’s costs for emission allowances and emission controls chemicals are excluded from the fuel-related cost recovery mechanisms and are recovered from their wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Purchased Electric Capacity - PPAs help meet the electricity demand of IPL’s and WPL’s customers. Certain of these PPAs include minimum payments for IPL’s and WPL’s rights to electric generating capacity, which are charged each period to “Purchased electric capacity” in the income statements. Purchased electric capacity expenses are recovered from IPL’s and WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. Purchased electric capacity expenses are recovered from IPL’s and WPL’s wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Electric Transmission Service - Costs incurred for the transmission of electricity to meet the demands of IPL’s and WPL’s customers are charged each period to “Electric transmission service” in the income statements. | ||||||||||||
IPL Retail - Electric transmission service expense is recovered from IPL’s Iowa retail electric customers through a transmission cost rider. This cost recovery mechanism provides for annual adjustments to electric rates charged to Iowa electric retail customers for changes in electric transmission service expense. Changes in the under-/over-collection of these costs are recognized in “Electric transmission service” in Alliant Energy’s and IPL’s income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The transmission cost rider will remain in effect until the IUB’s final decision in IPL’s next retail electric base rate case, at which time the rider will continue in its current form, continue in a modified form or be terminated. | ||||||||||||
WPL Retail - Electric transmission service expense is recovered from WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. | ||||||||||||
Pursuant to the escrow accounting treatment WPL received as part of its approved retail electric rate case (2015/2016 Test Period) in July 2014 from the PSCW, the difference between actual electric transmission service expense incurred and the amount of electric transmission service costs collected from customers as electric revenues in 2015 and 2016 will be recognized in “Electric transmission service” in Alliant Energy’s and WPL’s income statements each period. An offsetting amount will be recorded in “Regulatory assets” or “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. | ||||||||||||
IPL and WPL Wholesale - IPL and WPL arrange transmission service for the majority of their respective wholesale electric customers. Electric transmission service expense is allocated to and recovered from these customers based on a load ratio share computation. | ||||||||||||
Cost of Gas Sold - Costs are incurred for the purchase, transportation and storage of natural gas to serve IPL’s and WPL’s gas customers and the costs associated with the natural gas delivered to customers during each period are charged to “Cost of gas sold” in the income statements. The tariffs for IPL’s and WPL’s retail gas customers provide for subsequent adjustments to their rates each month for changes in the cost of gas sold. Changes in the under-/over-collection of these costs are also recognized in “Cost of gas sold” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Energy Efficiency Costs - Costs are incurred to fund energy efficiency programs and initiatives that help customers reduce their energy usage. The costs incurred for these programs and initiatives are charged to “Utility - Other operation and maintenance” in the income statements each period. Energy efficiency costs incurred by IPL are recovered from its retail electric and gas customers in Iowa through an additional tariff called an EECR factor. EECR factors are revised annually and include a reconciliation to eliminate any under-/over-collection of energy efficiency costs from prior periods. Energy efficiency costs incurred by WPL are recovered from retail electric and gas customers through changes in base rates determined during periodic rate proceedings. Reconciliations of any under-/over-collection of energy efficiency costs from prior periods are also addressed in WPL’s periodic rate proceedings. Changes in the under-/over-collection of energy efficiency costs each period for IPL and WPL are recognized in “Utility - Other operation and maintenance” in the income statements. The cumulative effects of the under-/over-collection of these costs for IPL and WPL are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Financial Instruments | Financial instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. The fair value of those financial instruments that are determined to be derivatives are recorded as assets or liabilities on the balance sheets. At the end of each reporting period, derivative instruments representing unrealized gain positions are reported as derivative assets, and derivative instruments representing unrealized loss positions are reported as derivative liabilities. Certain commodity purchase and sales contracts qualify for and have been designated under the normal purchase and sale exception. Based on this designation, such contracts are accounted for on the accrual basis of accounting. Alliant Energy, IPL and WPL have elected to not net the fair value amounts of derivatives subject to a master netting arrangement by counterparty. Alliant Energy, IPL and WPL do not offset fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) against fair value amounts recognized for derivative instruments that are executed with the same counterparty under the same master netting arrangement. | |||||||||||
Asset Impairments | Property, Plant and Equipment of Regulated Operations - Property, plant and equipment of regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate all or a portion of the carrying value of the assets may be disallowed for rate-making purposes. If IPL or WPL are disallowed recovery of any portion of the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the amount of the carrying value that was disallowed. If IPL or WPL are disallowed a full or partial return on the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the difference between the carrying value and the present value of the future revenues expected from their regulated property, plant and equipment. Refer to Note 3 for discussion of adjustments made by Alliant Energy and IPL in 2013 to the carrying value of IPL’s Whispering Willow - East wind project, based on the MPUC approving full cost recovery of the Minnesota retail portion of the wind project construction costs in 2013. | |||||||||||
Property, Plant and Equipment of Non-regulated Operations - Property, plant and equipment of non-regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Impairment is indicated if the carrying value of an asset exceeds its undiscounted future cash flows. An impairment charge is recognized equal to the amount the carrying value exceeds the asset’s fair value. | ||||||||||||
Unconsolidated Equity Investments - If events or circumstances indicate the carrying value of investments accounted for under the equity method of accounting may not be recoverable and the decline in value is other than temporary, potential impairment is assessed. If an impairment is indicated, a charge is recognized equal to the amount the carrying value exceeds the investment’s fair value. | ||||||||||||
Emission Allowances | Emission allowances are granted by the EPA at zero cost and permit the holder of the allowances to emit certain gaseous by-products of fossil fuel combustion, including SO2 and NOx. Purchased emission allowances are recorded as intangible assets at their original cost and evaluated for impairment as long-lived assets to be held and used. Emission allowances allocated or acquired are held primarily for consumption. | |||||||||||
Amortization of emission allowances recorded in “Electric production fuel and energy purchases” in the income statements in 2014, 2013 and 2012 was not material, and is based upon a weighted average cost for each EPA compliance program category of vintage year utilized during the reporting period. As of December 31, 2014, future estimated amortization expense for emission allowances was not material for 2015 through 2019. | ||||||||||||
Cash inflows and outflows related to sales and purchases of emission allowances are presented in investing activities in the cash flows statements. | ||||||||||||
Asset Retirement Obligations | The fair value of a legal obligation associated with the retirement costs of an asset is recorded as a liability with an equivalent amount added to the asset cost when an asset is placed in service, when a legal obligation is subsequently identified or when sufficient information becomes available to determine a reasonable estimate of the fair value of future retirement costs. The fair value of AROs is determined using discounted cash flows analyses. The liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. Accretion and depreciation expenses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory assets on the balance sheets. Upon regulatory approval to recover IPL’s AROs expenditures, its regulatory assets are amortized to depreciation and amortization expenses in Alliant Energy’s and IPL’s income statements over the same time period that IPL’s customer rates are increased to recover the ARO expenditures. Effective January 1, 2013, WPL’s regulatory assets related to AROs are being recovered as a component of depreciation rates included in the most recent depreciation study approved by the PSCW in its May 2012 order. Accretion and depreciation expenses related to AROs for Alliant Energy’s non-regulated operations are recorded to depreciation and amortization expenses in Alliant Energy’s income statements. Upon settlement of the ARO liability, an entity settles the obligation for its recorded amount or incurs a gain or loss. Any gains or losses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory liabilities or regulatory assets on the balance sheets. | |||||||||||
Debt Issuance and Retirement Costs | Debt issuance costs and debt premiums or discounts are deferred and amortized over the expected life of each debt issue, considering maturity dates and, if applicable, redemption rights held by others. Alliant Energy’s non-regulated businesses and Corporate Services expense in the period of retirement any unamortized debt issuance costs and debt premiums or discounts on debt retired early. | |||||||||||
Allowance for Doubtful Accounts | Allowances for doubtful accounts are recorded for estimated losses resulting from the inability of customers to make required payments. Allowances for doubtful accounts are estimated based on historical write-offs, customer arrears and other economic factors within IPL’s and WPL’s service territories. | |||||||||||
Variable Interest Entities | An entity is considered a VIE if its equity investors do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties, or its equity investors lack any of the following characteristics: (1) power, through voting rights or similar rights, to direct the activities of the entity that most significantly impact the entity’s economic performance; (2) the obligation to absorb expected losses of the entity; or (3) the right to receive expected benefits of the entity. The primary beneficiary of a VIE is required to consolidate the VIE. The financial statements did not reflect any VIEs on a consolidated basis. | |||||||||||
Cash Flows Presentation | Alliant Energy presents cash flows from continuing operations together with cash flows from discontinued operations in its cash flows statements. | |||||||||||
New Accounting Pronouncements | Revenue Recognition - In May 2014, FASB issued an accounting standard providing principles for recognizing revenue for the transfer of promised goods or services to customers with the consideration to which the entity expects to be entitled in exchange for those goods or services. This standard also requires disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2017 and are currently evaluating the impact on their financial condition and results of operations. | |||||||||||
Discontinued Operations - In April 2014, FASB issued an accounting standard that changes the criteria for reporting and qualifying for discontinued operations. Under the new standard, a disposal of a component or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operational and financial results. The new standard also requires additional disclosures about discontinued operations and individually significant components of an entity that are disposed of or that are classified as held for sale and do not qualify for discontinued operations. In the fourth quarter of 2014, Alliant Energy, IPL and WPL elected to early adopt the new standard, which is applied prospectively. As of December 31, 2014, IPL’s Minnesota natural gas distribution assets qualified as held for sale. Alliant Energy and IPL evaluated the anticipated sale of these assets and believe it did not represent a strategic shift that has, or will have, a major effect on their operational and financial results. As a result, the operating results of IPL’s Minnesota natural gas distribution assets have not been separately classified and reported as discontinued operations in Alliant Energy’s and IPL’s income statements. Alliant Energy and IPL are currently evaluating the impact of the new standard on IPL’s anticipated sale of its Minnesota electric distribution assets and currently do not expect the anticipated sale of these assets to qualify as discontinued operations under the new standard. | ||||||||||||
IPL [Member] | ||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||
General, Basis of Presentation | The financial statements reflect investments in controlled subsidiaries on a consolidated basis and Alliant Energy’s, IPL’s and WPL’s proportionate shares of jointly-owned utility EGUs. Unconsolidated investments, which Alliant Energy and WPL do not control, but do have the ability to exercise significant influence over operating and financial policies, are accounted for under the equity method of accounting. Investments that do not meet the criteria for consolidation or the equity method of accounting are accounted for under the cost method. Refer to Notes 1(n) and 6(a) for further discussion of VIEs and equity method investments, respectively. | |||||||||||
All intercompany balances and transactions, other than certain transactions affecting the rate-making process at IPL and WPL, have been eliminated from the financial statements. Such transactions not eliminated include costs that are recoverable from customers through rate-making processes. | ||||||||||||
General, Basis of Accounting | The financial statements are prepared in conformity with GAAP, which give recognition to the rate-making and accounting practices of FERC and state commissions having regulatory jurisdiction. | |||||||||||
General, Reclassification | Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. The balance sheets presentation changed from a utility format to a traditional format. This change revised the order of certain balance sheet line items and did not result in any changes in classification of amounts between line items. Unless otherwise noted, the notes herein exclude discontinued operations for all periods presented, and assets and liabilities held for sale as of December 31, 2014. | |||||||||||
General, Use of Estimates | The preparation of the financial statements requires management to make estimates and assumptions that affect: (a) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (b) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||
Regulatory Assets and Regulatory Liabilities | Alliant Energy, IPL and WPL are subject to regulation by FERC and various state regulatory commissions. As a result, Alliant Energy, IPL and WPL are subject to GAAP provisions for regulated operations, which provide that rate-regulated public utilities record certain costs and credits allowed in the rate-making process in different periods than for non-regulated entities. Regulatory assets generally represent incurred costs that have been deferred as such costs are probable of recovery in future customer rates. Regulatory liabilities generally represent obligations to make refunds to customers or amounts collected in rates for which the related costs have not yet been incurred. Amounts deferred as regulatory assets or accrued as regulatory liabilities are generally recognized in the income statements at the time they are reflected in rates. | |||||||||||
Income Taxes | The liability method of accounting is followed for deferred income taxes, which requires the establishment of deferred income tax assets and liabilities, as appropriate, for temporary differences between the tax basis of assets and liabilities and the amounts reported in the financial statements. Deferred income taxes are recorded using currently enacted tax rates and estimates of state apportionment rates. Changes in deferred income tax assets and liabilities associated with certain property-related differences at IPL are accounted for differently than other subsidiaries of Alliant Energy due to rate-making practices in Iowa. Rate-making practices in Iowa do not include the impact of certain deferred tax expenses (benefits) in the determination of retail rates. Based on these rate-making practices, deferred tax expense (benefit) related to these property-related differences at IPL is not recorded in the income statement but instead recorded to regulatory assets or regulatory liabilities until these temporary differences reverse. Refer to Note 2 for further discussion of regulatory assets and regulatory liabilities associated with property-related differences at IPL. In Wisconsin, the PSCW has allowed rate recovery of deferred tax expense on all temporary differences since 1991. | |||||||||||
Investment tax credits are deferred and amortized to income over the average lives of the related property. Other tax credits reduce income tax expense in the year claimed. | ||||||||||||
The alternative transition method has been elected to calculate the beginning pool of excess tax benefits available to absorb any tax deficiencies associated with recognition of share-based payment awards. | ||||||||||||
Alliant Energy files a consolidated federal income tax return, which includes the aggregate taxable income or loss of Alliant Energy and its subsidiaries. In addition, a combined return including Alliant Energy and all of its subsidiaries is filed in Wisconsin. Alliant Energy subsidiaries with a presence in Iowa file as part of a consolidated return in Iowa. Under the terms of a tax sharing agreement between Alliant Energy and its subsidiaries, IPL and WPL calculate state income tax using consolidated apportionment rates applied to separate company taxable income. | ||||||||||||
Cash and Cash Equivalents | Cash and cash equivalents include short-term liquid investments that have original maturities of less than 90 days. | |||||||||||
Property, Plant and Equipment | Non-utility Property - | |||||||||||
General - Non-utility property is recorded at the original cost of acquisition or construction, which includes material, labor and contractor services. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Upon retirement or sale of non-utility property, the original cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in the income statements. | ||||||||||||
Utility Plant - | ||||||||||||
General - Utility plant is recorded at the original cost of acquisition or construction, which includes material, labor, contractor services, AFUDC and allocable overheads, such as supervision, engineering, benefits, certain taxes and transportation. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Ordinary retirements of utility plant and salvage value are netted and charged to accumulated depreciation upon removal from utility plant accounts and no gain or loss is recognized consistent with rate-making policies. Removal costs incurred reduce the regulatory liability. Property, plant and equipment that is probable of being retired early is classified as plant anticipated to be retired early. | ||||||||||||
Depreciation | IPL and WPL use a combination of remaining life and straight-line depreciation methods as approved by their respective regulatory commissions. The composite or group method of depreciation is used, in which a single depreciation rate is applied to the gross investment in a particular class of property. This method pools similar assets and then depreciates each group as a whole. Periodic depreciation studies are performed to determine the appropriate group lives, net salvage, estimated cost of removal and group depreciation rates. These depreciation studies are subject to review and approval by IPL’s and WPL’s respective regulatory commissions. Depreciation expense is included within the recoverable cost of service component of rates charged to customers. The average rates of depreciation for electric, gas and other properties, consistent with current rate-making practices, were as follows: | |||||||||||
IPL | WPL | |||||||||||
2014 | 2013 | 2012 | 2014 | 2013 (a) | 2012 | |||||||
Electric - generation | 3.60% | 3.60% | 3.70% | 3.20% | 3.30% | 3.20% | ||||||
Electric - distribution | 2.50% | 2.50% | 2.50% | 2.70% | 2.70% | 2.90% | ||||||
Gas | 3.30% | 3.40% | 3.40% | 2.50% | 2.50% | 2.60% | ||||||
Other | 4.20% | 4.40% | 4.50% | 6.00% | 5.10% | 5.30% | ||||||
(a) | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPL’s requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. | |||||||||||
AFUDC | AFUDC represents costs to finance construction additions including a return on equity component and cost of debt component as required by regulatory accounting. AFUDC for IPL’s construction projects is calculated in accordance with FERC guidelines. AFUDC for WPL’s retail and wholesale jurisdiction construction projects is calculated in accordance with PSCW and FERC guidelines, respectively. The AFUDC recovery rates, computed in accordance with the prescribed regulatory formula, were as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
IPL (FERC formula - Marshalltown CWIP) (a) | 8.00% | —% | —% | |||||||||
IPL (FERC formula - other CWIP) | 7.80% | 8.20% | 8.20% | |||||||||
WPL (PSCW formula - retail jurisdiction) | 8.20% | 8.20% | 8.80% | |||||||||
WPL (FERC formula - wholesale jurisdiction) | 4.10% | 4.50% | 7.90% | |||||||||
(a) | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. | |||||||||||
In accordance with their most recent rate orders, IPL applies its AFUDC recovery rates to 100% of applicable CWIP balances and WPL generally applies its AFUDC recovery rates to 50% of applicable CWIP balances. WPL may apply its AFUDC recovery rates to 100% of the retail portion of the CWIP balances for construction projects requiring a CA or CPCN that were approved by the PSCW after their most recent rate order. | ||||||||||||
Operating Revenues | Utility - Revenues from Alliant Energy’s utility business are primarily from electricity and natural gas sales and are recognized on an accrual basis as services are rendered or commodities are delivered to customers. Energy sales to individual customers are based on the reading of customers’ meters, which occurs on a systematic basis throughout each reporting period. Amounts of energy delivered to customers since the date of the last meter reading are estimated at the end of each reporting period and the corresponding estimated unbilled revenue is recorded in such reporting period. The unbilled revenue estimate is based on daily system demand volumes, estimated customer usage by class, weather impacts, line losses and the most recent customer rates. | |||||||||||
IPL and WPL accrue revenues from their wholesale customers to the extent that the actual net revenue requirements calculated in accordance with FERC-approved formula rates for the reporting period are higher or lower than the amounts billed to wholesale customers during such period. Regulatory assets or regulatory liabilities are recorded as the offset for these accrued revenues under formulaic rate-making programs. IPL’s estimated recovery amount is recorded in the current period of service and is reflected in customer bills within two years under the provisions of approved formula rates. WPL’s estimated recovery amount is recorded in the current period of service and subject to final adjustments after a customer audit period in the subsequent year. Final settled recovery amounts are reflected in WPL’s customer bills within two years under the provisions of approved formula rates. | ||||||||||||
IPL and WPL participate in bid/offer-based wholesale energy and ancillary services markets operated by MISO. IPL’s and WPL’s customers and generating resources are located in the MISO region. MISO requires that all load serving entities and generation owners, including IPL and WPL, submit hourly day-ahead and/or real-time bids and offers for energy and ancillary services. The MISO day-ahead and real-time transactions are grouped together, resulting in a net supply to or net purchase from MISO for each hour of each day. The net supply to MISO is recorded in “Electric utility operating revenues” and the net purchase from MISO is recorded in “Electric production fuel and energy purchases” in the income statements. IPL and WPL also engage in transactions in PJM’s bid/offer-based wholesale energy market, which are accounted for similar to the MISO transactions. | ||||||||||||
Non-regulated - Revenues from Alliant Energy’s non-regulated businesses are primarily from its Transportation business and are recognized on an accrual basis as services are rendered or goods are delivered to customers. | ||||||||||||
Taxes Collected from Customers - Certain of Alliant Energy’s subsidiaries serve as collection agents for sales or various other taxes and record revenues on a net basis. Operating revenues do not include the collection of the aforementioned taxes. | ||||||||||||
Utility Cost Recovery Mechanisms | Electric Production Fuel and Energy Purchases (Fuel-related Costs) - Fuel-related costs are incurred each period to generate and purchase electricity to meet the demand of IPL’s and WPL’s electric customers. These fuel-related costs include the cost of fossil fuels (primarily coal and natural gas) used during each period to produce electricity at their EGUs, electricity purchased each period from wholesale energy markets (primarily MISO) and under PPAs, costs for allowances acquired to allow certain emissions (primarily SO2 and NOx) from their EGUs and costs for chemicals utilized to control emissions from their EGUs. These fuel-related costs are recorded in “Electric production fuel and energy purchases” in the income statements. | |||||||||||
IPL Retail - The cost recovery mechanisms applicable for IPL’s retail electric customers provide for subsequent adjustments to their electric rates each month for changes in fuel-related costs. Fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction also currently allow IPL to recover prudently incurred costs for emission allowances required to comply with EPA regulations, including the Acid Rain program and CAIR, through the fuel adjustment clause. Changes in the under-/over-collection of these costs each period are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and IPL’s income statements. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction currently do not contain a provision for recovery of emission controls chemical costs to flow through the fuel adjustment clause. The fuel adjustment clause rules applicable to IPL’s Minnesota retail jurisdiction currently do not contain a provision for recovery of emission allowance costs or emission controls chemical costs through the fuel adjustment clause. | ||||||||||||
Effective February 22, 2014, IPL began recovering the Iowa retail portion of the DAEC PPA costs from its Iowa retail electric customers through the fuel adjustment clause pursuant to a January 2013 IUB order. This PPA does not contain minimum payments for electric generating capacity. | ||||||||||||
WPL Retail - The cost recovery mechanism applicable for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test year periods and fuel monitoring ranges determined by the PSCW during each electric retail rate proceeding or in a separate fuel cost plan approval proceeding. However, if WPL’s actual fuel-related costs fall outside these fuel monitoring ranges during the test period, WPL is authorized to defer the incremental under-/over-collection of fuel-related costs that are outside the approved ranges. Deferral of under-collections are reduced to the extent actual return on common equity earned by WPL during the fuel cost plan year exceeds the most recently authorized return on common equity. Deferred amounts for fuel-related costs outside the approved fuel monitoring ranges are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and WPL’s income statements each period. The cumulative effects of these deferred amounts are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. WPL’s retail fuel-related costs include costs for emission allowances and emission controls chemicals. | ||||||||||||
IPL and WPL Wholesale - The cost recovery mechanisms applicable for IPL’s and WPL’s wholesale electric customers provide for subsequent adjustments to their electric rates for changes in fuel-related costs. Changes in the under-/over-collection of these costs are recognized in “Electric production fuel and energy purchases” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. IPL’s and WPL’s costs for emission allowances and emission controls chemicals are excluded from the fuel-related cost recovery mechanisms and are recovered from their wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Purchased Electric Capacity - PPAs help meet the electricity demand of IPL’s and WPL’s customers. Certain of these PPAs include minimum payments for IPL’s and WPL’s rights to electric generating capacity, which are charged each period to “Purchased electric capacity” in the income statements. Purchased electric capacity expenses are recovered from IPL’s and WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. Purchased electric capacity expenses are recovered from IPL’s and WPL’s wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Electric Transmission Service - Costs incurred for the transmission of electricity to meet the demands of IPL’s and WPL’s customers are charged each period to “Electric transmission service” in the income statements. | ||||||||||||
IPL Retail - Electric transmission service expense is recovered from IPL’s Iowa retail electric customers through a transmission cost rider. This cost recovery mechanism provides for annual adjustments to electric rates charged to Iowa electric retail customers for changes in electric transmission service expense. Changes in the under-/over-collection of these costs are recognized in “Electric transmission service” in Alliant Energy’s and IPL’s income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The transmission cost rider will remain in effect until the IUB’s final decision in IPL’s next retail electric base rate case, at which time the rider will continue in its current form, continue in a modified form or be terminated. | ||||||||||||
WPL Retail - Electric transmission service expense is recovered from WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. | ||||||||||||
Pursuant to the escrow accounting treatment WPL received as part of its approved retail electric rate case (2015/2016 Test Period) in July 2014 from the PSCW, the difference between actual electric transmission service expense incurred and the amount of electric transmission service costs collected from customers as electric revenues in 2015 and 2016 will be recognized in “Electric transmission service” in Alliant Energy’s and WPL’s income statements each period. An offsetting amount will be recorded in “Regulatory assets” or “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. | ||||||||||||
IPL and WPL Wholesale - IPL and WPL arrange transmission service for the majority of their respective wholesale electric customers. Electric transmission service expense is allocated to and recovered from these customers based on a load ratio share computation. | ||||||||||||
Cost of Gas Sold - Costs are incurred for the purchase, transportation and storage of natural gas to serve IPL’s and WPL’s gas customers and the costs associated with the natural gas delivered to customers during each period are charged to “Cost of gas sold” in the income statements. The tariffs for IPL’s and WPL’s retail gas customers provide for subsequent adjustments to their rates each month for changes in the cost of gas sold. Changes in the under-/over-collection of these costs are also recognized in “Cost of gas sold” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Energy Efficiency Costs - Costs are incurred to fund energy efficiency programs and initiatives that help customers reduce their energy usage. The costs incurred for these programs and initiatives are charged to “Utility - Other operation and maintenance” in the income statements each period. Energy efficiency costs incurred by IPL are recovered from its retail electric and gas customers in Iowa through an additional tariff called an EECR factor. EECR factors are revised annually and include a reconciliation to eliminate any under-/over-collection of energy efficiency costs from prior periods. Energy efficiency costs incurred by WPL are recovered from retail electric and gas customers through changes in base rates determined during periodic rate proceedings. Reconciliations of any under-/over-collection of energy efficiency costs from prior periods are also addressed in WPL’s periodic rate proceedings. Changes in the under-/over-collection of energy efficiency costs each period for IPL and WPL are recognized in “Utility - Other operation and maintenance” in the income statements. The cumulative effects of the under-/over-collection of these costs for IPL and WPL are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Financial Instruments | Financial instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. The fair value of those financial instruments that are determined to be derivatives are recorded as assets or liabilities on the balance sheets. At the end of each reporting period, derivative instruments representing unrealized gain positions are reported as derivative assets, and derivative instruments representing unrealized loss positions are reported as derivative liabilities. Certain commodity purchase and sales contracts qualify for and have been designated under the normal purchase and sale exception. Based on this designation, such contracts are accounted for on the accrual basis of accounting. Alliant Energy, IPL and WPL have elected to not net the fair value amounts of derivatives subject to a master netting arrangement by counterparty. Alliant Energy, IPL and WPL do not offset fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) against fair value amounts recognized for derivative instruments that are executed with the same counterparty under the same master netting arrangement. | |||||||||||
Asset Impairments | Property, Plant and Equipment of Regulated Operations - Property, plant and equipment of regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate all or a portion of the carrying value of the assets may be disallowed for rate-making purposes. If IPL or WPL are disallowed recovery of any portion of the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the amount of the carrying value that was disallowed. If IPL or WPL are disallowed a full or partial return on the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the difference between the carrying value and the present value of the future revenues expected from their regulated property, plant and equipment. Refer to Note 3 for discussion of adjustments made by Alliant Energy and IPL in 2013 to the carrying value of IPL’s Whispering Willow - East wind project, based on the MPUC approving full cost recovery of the Minnesota retail portion of the wind project construction costs in 2013. | |||||||||||
Property, Plant and Equipment of Non-regulated Operations - Property, plant and equipment of non-regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Impairment is indicated if the carrying value of an asset exceeds its undiscounted future cash flows. An impairment charge is recognized equal to the amount the carrying value exceeds the asset’s fair value. | ||||||||||||
Unconsolidated Equity Investments - If events or circumstances indicate the carrying value of investments accounted for under the equity method of accounting may not be recoverable and the decline in value is other than temporary, potential impairment is assessed. If an impairment is indicated, a charge is recognized equal to the amount the carrying value exceeds the investment’s fair value. | ||||||||||||
Emission Allowances | Emission allowances are granted by the EPA at zero cost and permit the holder of the allowances to emit certain gaseous by-products of fossil fuel combustion, including SO2 and NOx. Purchased emission allowances are recorded as intangible assets at their original cost and evaluated for impairment as long-lived assets to be held and used. Emission allowances allocated or acquired are held primarily for consumption. | |||||||||||
Amortization of emission allowances recorded in “Electric production fuel and energy purchases” in the income statements in 2014, 2013 and 2012 was not material, and is based upon a weighted average cost for each EPA compliance program category of vintage year utilized during the reporting period. As of December 31, 2014, future estimated amortization expense for emission allowances was not material for 2015 through 2019. | ||||||||||||
Cash inflows and outflows related to sales and purchases of emission allowances are presented in investing activities in the cash flows statements. | ||||||||||||
Asset Retirement Obligations | The fair value of a legal obligation associated with the retirement costs of an asset is recorded as a liability with an equivalent amount added to the asset cost when an asset is placed in service, when a legal obligation is subsequently identified or when sufficient information becomes available to determine a reasonable estimate of the fair value of future retirement costs. The fair value of AROs is determined using discounted cash flows analyses. The liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. Accretion and depreciation expenses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory assets on the balance sheets. Upon regulatory approval to recover IPL’s AROs expenditures, its regulatory assets are amortized to depreciation and amortization expenses in Alliant Energy’s and IPL’s income statements over the same time period that IPL’s customer rates are increased to recover the ARO expenditures. Effective January 1, 2013, WPL’s regulatory assets related to AROs are being recovered as a component of depreciation rates included in the most recent depreciation study approved by the PSCW in its May 2012 order. Accretion and depreciation expenses related to AROs for Alliant Energy’s non-regulated operations are recorded to depreciation and amortization expenses in Alliant Energy’s income statements. Upon settlement of the ARO liability, an entity settles the obligation for its recorded amount or incurs a gain or loss. Any gains or losses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory liabilities or regulatory assets on the balance sheets. | |||||||||||
Debt Issuance and Retirement Costs | Debt issuance costs and debt premiums or discounts are deferred and amortized over the expected life of each debt issue, considering maturity dates and, if applicable, redemption rights held by others. Alliant Energy’s non-regulated businesses and Corporate Services expense in the period of retirement any unamortized debt issuance costs and debt premiums or discounts on debt retired early. | |||||||||||
Allowance for Doubtful Accounts | Allowances for doubtful accounts are recorded for estimated losses resulting from the inability of customers to make required payments. Allowances for doubtful accounts are estimated based on historical write-offs, customer arrears and other economic factors within IPL’s and WPL’s service territories. | |||||||||||
Variable Interest Entities | An entity is considered a VIE if its equity investors do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties, or its equity investors lack any of the following characteristics: (1) power, through voting rights or similar rights, to direct the activities of the entity that most significantly impact the entity’s economic performance; (2) the obligation to absorb expected losses of the entity; or (3) the right to receive expected benefits of the entity. The primary beneficiary of a VIE is required to consolidate the VIE. The financial statements did not reflect any VIEs on a consolidated basis. | |||||||||||
New Accounting Pronouncements | Revenue Recognition - In May 2014, FASB issued an accounting standard providing principles for recognizing revenue for the transfer of promised goods or services to customers with the consideration to which the entity expects to be entitled in exchange for those goods or services. This standard also requires disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2017 and are currently evaluating the impact on their financial condition and results of operations. | |||||||||||
Discontinued Operations - In April 2014, FASB issued an accounting standard that changes the criteria for reporting and qualifying for discontinued operations. Under the new standard, a disposal of a component or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operational and financial results. The new standard also requires additional disclosures about discontinued operations and individually significant components of an entity that are disposed of or that are classified as held for sale and do not qualify for discontinued operations. In the fourth quarter of 2014, Alliant Energy, IPL and WPL elected to early adopt the new standard, which is applied prospectively. As of December 31, 2014, IPL’s Minnesota natural gas distribution assets qualified as held for sale. Alliant Energy and IPL evaluated the anticipated sale of these assets and believe it did not represent a strategic shift that has, or will have, a major effect on their operational and financial results. As a result, the operating results of IPL’s Minnesota natural gas distribution assets have not been separately classified and reported as discontinued operations in Alliant Energy’s and IPL’s income statements. Alliant Energy and IPL are currently evaluating the impact of the new standard on IPL’s anticipated sale of its Minnesota electric distribution assets and currently do not expect the anticipated sale of these assets to qualify as discontinued operations under the new standard. | ||||||||||||
WPL [Member] | ||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||
General, Basis of Presentation | The financial statements reflect investments in controlled subsidiaries on a consolidated basis and Alliant Energy’s, IPL’s and WPL’s proportionate shares of jointly-owned utility EGUs. Unconsolidated investments, which Alliant Energy and WPL do not control, but do have the ability to exercise significant influence over operating and financial policies, are accounted for under the equity method of accounting. Investments that do not meet the criteria for consolidation or the equity method of accounting are accounted for under the cost method. Refer to Notes 1(n) and 6(a) for further discussion of VIEs and equity method investments, respectively. | |||||||||||
All intercompany balances and transactions, other than certain transactions affecting the rate-making process at IPL and WPL, have been eliminated from the financial statements. Such transactions not eliminated include costs that are recoverable from customers through rate-making processes. | ||||||||||||
General, Basis of Accounting | The financial statements are prepared in conformity with GAAP, which give recognition to the rate-making and accounting practices of FERC and state commissions having regulatory jurisdiction. | |||||||||||
General, Reclassification | Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. The balance sheets presentation changed from a utility format to a traditional format. This change revised the order of certain balance sheet line items and did not result in any changes in classification of amounts between line items. Unless otherwise noted, the notes herein exclude discontinued operations for all periods presented, and assets and liabilities held for sale as of December 31, 2014. | |||||||||||
General, Use of Estimates | The preparation of the financial statements requires management to make estimates and assumptions that affect: (a) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (b) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||
Regulatory Assets and Regulatory Liabilities | Alliant Energy, IPL and WPL are subject to regulation by FERC and various state regulatory commissions. As a result, Alliant Energy, IPL and WPL are subject to GAAP provisions for regulated operations, which provide that rate-regulated public utilities record certain costs and credits allowed in the rate-making process in different periods than for non-regulated entities. Regulatory assets generally represent incurred costs that have been deferred as such costs are probable of recovery in future customer rates. Regulatory liabilities generally represent obligations to make refunds to customers or amounts collected in rates for which the related costs have not yet been incurred. Amounts deferred as regulatory assets or accrued as regulatory liabilities are generally recognized in the income statements at the time they are reflected in rates. | |||||||||||
Income Taxes | The liability method of accounting is followed for deferred income taxes, which requires the establishment of deferred income tax assets and liabilities, as appropriate, for temporary differences between the tax basis of assets and liabilities and the amounts reported in the financial statements. Deferred income taxes are recorded using currently enacted tax rates and estimates of state apportionment rates. Changes in deferred income tax assets and liabilities associated with certain property-related differences at IPL are accounted for differently than other subsidiaries of Alliant Energy due to rate-making practices in Iowa. Rate-making practices in Iowa do not include the impact of certain deferred tax expenses (benefits) in the determination of retail rates. Based on these rate-making practices, deferred tax expense (benefit) related to these property-related differences at IPL is not recorded in the income statement but instead recorded to regulatory assets or regulatory liabilities until these temporary differences reverse. Refer to Note 2 for further discussion of regulatory assets and regulatory liabilities associated with property-related differences at IPL. In Wisconsin, the PSCW has allowed rate recovery of deferred tax expense on all temporary differences since 1991. | |||||||||||
Investment tax credits are deferred and amortized to income over the average lives of the related property. Other tax credits reduce income tax expense in the year claimed. | ||||||||||||
The alternative transition method has been elected to calculate the beginning pool of excess tax benefits available to absorb any tax deficiencies associated with recognition of share-based payment awards. | ||||||||||||
Alliant Energy files a consolidated federal income tax return, which includes the aggregate taxable income or loss of Alliant Energy and its subsidiaries. In addition, a combined return including Alliant Energy and all of its subsidiaries is filed in Wisconsin. Alliant Energy subsidiaries with a presence in Iowa file as part of a consolidated return in Iowa. Under the terms of a tax sharing agreement between Alliant Energy and its subsidiaries, IPL and WPL calculate state income tax using consolidated apportionment rates applied to separate company taxable income. | ||||||||||||
Cash and Cash Equivalents | Cash and cash equivalents include short-term liquid investments that have original maturities of less than 90 days. | |||||||||||
Property, Plant and Equipment | Non-utility Property - | |||||||||||
General - Non-utility property is recorded at the original cost of acquisition or construction, which includes material, labor and contractor services. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Upon retirement or sale of non-utility property, the original cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in the income statements. | ||||||||||||
Utility Plant - | ||||||||||||
General - Utility plant is recorded at the original cost of acquisition or construction, which includes material, labor, contractor services, AFUDC and allocable overheads, such as supervision, engineering, benefits, certain taxes and transportation. Repairs, replacements and renewals of items of property determined to be less than a unit of property or that do not increase the property’s life or functionality are charged to maintenance expense. Ordinary retirements of utility plant and salvage value are netted and charged to accumulated depreciation upon removal from utility plant accounts and no gain or loss is recognized consistent with rate-making policies. Removal costs incurred reduce the regulatory liability. Property, plant and equipment that is probable of being retired early is classified as plant anticipated to be retired early. | ||||||||||||
Depreciation | IPL and WPL use a combination of remaining life and straight-line depreciation methods as approved by their respective regulatory commissions. The composite or group method of depreciation is used, in which a single depreciation rate is applied to the gross investment in a particular class of property. This method pools similar assets and then depreciates each group as a whole. Periodic depreciation studies are performed to determine the appropriate group lives, net salvage, estimated cost of removal and group depreciation rates. These depreciation studies are subject to review and approval by IPL’s and WPL’s respective regulatory commissions. Depreciation expense is included within the recoverable cost of service component of rates charged to customers. The average rates of depreciation for electric, gas and other properties, consistent with current rate-making practices, were as follows: | |||||||||||
IPL | WPL | |||||||||||
2014 | 2013 | 2012 | 2014 | 2013 (a) | 2012 | |||||||
Electric - generation | 3.60% | 3.60% | 3.70% | 3.20% | 3.30% | 3.20% | ||||||
Electric - distribution | 2.50% | 2.50% | 2.50% | 2.70% | 2.70% | 2.90% | ||||||
Gas | 3.30% | 3.40% | 3.40% | 2.50% | 2.50% | 2.60% | ||||||
Other | 4.20% | 4.40% | 4.50% | 6.00% | 5.10% | 5.30% | ||||||
(a) | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPL’s requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. | |||||||||||
AFUDC | AFUDC represents costs to finance construction additions including a return on equity component and cost of debt component as required by regulatory accounting. AFUDC for IPL’s construction projects is calculated in accordance with FERC guidelines. AFUDC for WPL’s retail and wholesale jurisdiction construction projects is calculated in accordance with PSCW and FERC guidelines, respectively. The AFUDC recovery rates, computed in accordance with the prescribed regulatory formula, were as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
IPL (FERC formula - Marshalltown CWIP) (a) | 8.00% | —% | —% | |||||||||
IPL (FERC formula - other CWIP) | 7.80% | 8.20% | 8.20% | |||||||||
WPL (PSCW formula - retail jurisdiction) | 8.20% | 8.20% | 8.80% | |||||||||
WPL (FERC formula - wholesale jurisdiction) | 4.10% | 4.50% | 7.90% | |||||||||
(a) | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. | |||||||||||
In accordance with their most recent rate orders, IPL applies its AFUDC recovery rates to 100% of applicable CWIP balances and WPL generally applies its AFUDC recovery rates to 50% of applicable CWIP balances. WPL may apply its AFUDC recovery rates to 100% of the retail portion of the CWIP balances for construction projects requiring a CA or CPCN that were approved by the PSCW after their most recent rate order. | ||||||||||||
Operating Revenues | Utility - Revenues from Alliant Energy’s utility business are primarily from electricity and natural gas sales and are recognized on an accrual basis as services are rendered or commodities are delivered to customers. Energy sales to individual customers are based on the reading of customers’ meters, which occurs on a systematic basis throughout each reporting period. Amounts of energy delivered to customers since the date of the last meter reading are estimated at the end of each reporting period and the corresponding estimated unbilled revenue is recorded in such reporting period. The unbilled revenue estimate is based on daily system demand volumes, estimated customer usage by class, weather impacts, line losses and the most recent customer rates. | |||||||||||
IPL and WPL accrue revenues from their wholesale customers to the extent that the actual net revenue requirements calculated in accordance with FERC-approved formula rates for the reporting period are higher or lower than the amounts billed to wholesale customers during such period. Regulatory assets or regulatory liabilities are recorded as the offset for these accrued revenues under formulaic rate-making programs. IPL’s estimated recovery amount is recorded in the current period of service and is reflected in customer bills within two years under the provisions of approved formula rates. WPL’s estimated recovery amount is recorded in the current period of service and subject to final adjustments after a customer audit period in the subsequent year. Final settled recovery amounts are reflected in WPL’s customer bills within two years under the provisions of approved formula rates. | ||||||||||||
IPL and WPL participate in bid/offer-based wholesale energy and ancillary services markets operated by MISO. IPL’s and WPL’s customers and generating resources are located in the MISO region. MISO requires that all load serving entities and generation owners, including IPL and WPL, submit hourly day-ahead and/or real-time bids and offers for energy and ancillary services. The MISO day-ahead and real-time transactions are grouped together, resulting in a net supply to or net purchase from MISO for each hour of each day. The net supply to MISO is recorded in “Electric utility operating revenues” and the net purchase from MISO is recorded in “Electric production fuel and energy purchases” in the income statements. IPL and WPL also engage in transactions in PJM’s bid/offer-based wholesale energy market, which are accounted for similar to the MISO transactions. | ||||||||||||
Non-regulated - Revenues from Alliant Energy’s non-regulated businesses are primarily from its Transportation business and are recognized on an accrual basis as services are rendered or goods are delivered to customers. | ||||||||||||
Taxes Collected from Customers - Certain of Alliant Energy’s subsidiaries serve as collection agents for sales or various other taxes and record revenues on a net basis. Operating revenues do not include the collection of the aforementioned taxes. | ||||||||||||
Utility Cost Recovery Mechanisms | Electric Production Fuel and Energy Purchases (Fuel-related Costs) - Fuel-related costs are incurred each period to generate and purchase electricity to meet the demand of IPL’s and WPL’s electric customers. These fuel-related costs include the cost of fossil fuels (primarily coal and natural gas) used during each period to produce electricity at their EGUs, electricity purchased each period from wholesale energy markets (primarily MISO) and under PPAs, costs for allowances acquired to allow certain emissions (primarily SO2 and NOx) from their EGUs and costs for chemicals utilized to control emissions from their EGUs. These fuel-related costs are recorded in “Electric production fuel and energy purchases” in the income statements. | |||||||||||
IPL Retail - The cost recovery mechanisms applicable for IPL’s retail electric customers provide for subsequent adjustments to their electric rates each month for changes in fuel-related costs. Fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction also currently allow IPL to recover prudently incurred costs for emission allowances required to comply with EPA regulations, including the Acid Rain program and CAIR, through the fuel adjustment clause. Changes in the under-/over-collection of these costs each period are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and IPL’s income statements. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The fuel adjustment clause rules applicable to IPL’s Iowa retail jurisdiction currently do not contain a provision for recovery of emission controls chemical costs to flow through the fuel adjustment clause. The fuel adjustment clause rules applicable to IPL’s Minnesota retail jurisdiction currently do not contain a provision for recovery of emission allowance costs or emission controls chemical costs through the fuel adjustment clause. | ||||||||||||
Effective February 22, 2014, IPL began recovering the Iowa retail portion of the DAEC PPA costs from its Iowa retail electric customers through the fuel adjustment clause pursuant to a January 2013 IUB order. This PPA does not contain minimum payments for electric generating capacity. | ||||||||||||
WPL Retail - The cost recovery mechanism applicable for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test year periods and fuel monitoring ranges determined by the PSCW during each electric retail rate proceeding or in a separate fuel cost plan approval proceeding. However, if WPL’s actual fuel-related costs fall outside these fuel monitoring ranges during the test period, WPL is authorized to defer the incremental under-/over-collection of fuel-related costs that are outside the approved ranges. Deferral of under-collections are reduced to the extent actual return on common equity earned by WPL during the fuel cost plan year exceeds the most recently authorized return on common equity. Deferred amounts for fuel-related costs outside the approved fuel monitoring ranges are recognized in “Electric production fuel and energy purchases” in Alliant Energy’s and WPL’s income statements each period. The cumulative effects of these deferred amounts are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. WPL’s retail fuel-related costs include costs for emission allowances and emission controls chemicals. | ||||||||||||
IPL and WPL Wholesale - The cost recovery mechanisms applicable for IPL’s and WPL’s wholesale electric customers provide for subsequent adjustments to their electric rates for changes in fuel-related costs. Changes in the under-/over-collection of these costs are recognized in “Electric production fuel and energy purchases” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. IPL’s and WPL’s costs for emission allowances and emission controls chemicals are excluded from the fuel-related cost recovery mechanisms and are recovered from their wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Purchased Electric Capacity - PPAs help meet the electricity demand of IPL’s and WPL’s customers. Certain of these PPAs include minimum payments for IPL’s and WPL’s rights to electric generating capacity, which are charged each period to “Purchased electric capacity” in the income statements. Purchased electric capacity expenses are recovered from IPL’s and WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. Purchased electric capacity expenses are recovered from IPL’s and WPL’s wholesale electric customers through annual changes in base rates determined by a formula rate structure. | ||||||||||||
Electric Transmission Service - Costs incurred for the transmission of electricity to meet the demands of IPL’s and WPL’s customers are charged each period to “Electric transmission service” in the income statements. | ||||||||||||
IPL Retail - Electric transmission service expense is recovered from IPL’s Iowa retail electric customers through a transmission cost rider. This cost recovery mechanism provides for annual adjustments to electric rates charged to Iowa electric retail customers for changes in electric transmission service expense. Changes in the under-/over-collection of these costs are recognized in “Electric transmission service” in Alliant Energy’s and IPL’s income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on Alliant Energy’s and IPL’s balance sheets until they are reflected in future billings to customers. The transmission cost rider will remain in effect until the IUB’s final decision in IPL’s next retail electric base rate case, at which time the rider will continue in its current form, continue in a modified form or be terminated. | ||||||||||||
WPL Retail - Electric transmission service expense is recovered from WPL’s retail electric customers through changes in base rates determined during periodic rate proceedings. | ||||||||||||
Pursuant to the escrow accounting treatment WPL received as part of its approved retail electric rate case (2015/2016 Test Period) in July 2014 from the PSCW, the difference between actual electric transmission service expense incurred and the amount of electric transmission service costs collected from customers as electric revenues in 2015 and 2016 will be recognized in “Electric transmission service” in Alliant Energy’s and WPL’s income statements each period. An offsetting amount will be recorded in “Regulatory assets” or “Regulatory liabilities” on Alliant Energy’s and WPL’s balance sheets until they are reflected in future billings to customers. | ||||||||||||
IPL and WPL Wholesale - IPL and WPL arrange transmission service for the majority of their respective wholesale electric customers. Electric transmission service expense is allocated to and recovered from these customers based on a load ratio share computation. | ||||||||||||
Cost of Gas Sold - Costs are incurred for the purchase, transportation and storage of natural gas to serve IPL’s and WPL’s gas customers and the costs associated with the natural gas delivered to customers during each period are charged to “Cost of gas sold” in the income statements. The tariffs for IPL’s and WPL’s retail gas customers provide for subsequent adjustments to their rates each month for changes in the cost of gas sold. Changes in the under-/over-collection of these costs are also recognized in “Cost of gas sold” in the income statements each period. The cumulative effects of the under-/over-collection of these costs are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Energy Efficiency Costs - Costs are incurred to fund energy efficiency programs and initiatives that help customers reduce their energy usage. The costs incurred for these programs and initiatives are charged to “Utility - Other operation and maintenance” in the income statements each period. Energy efficiency costs incurred by IPL are recovered from its retail electric and gas customers in Iowa through an additional tariff called an EECR factor. EECR factors are revised annually and include a reconciliation to eliminate any under-/over-collection of energy efficiency costs from prior periods. Energy efficiency costs incurred by WPL are recovered from retail electric and gas customers through changes in base rates determined during periodic rate proceedings. Reconciliations of any under-/over-collection of energy efficiency costs from prior periods are also addressed in WPL’s periodic rate proceedings. Changes in the under-/over-collection of energy efficiency costs each period for IPL and WPL are recognized in “Utility - Other operation and maintenance” in the income statements. The cumulative effects of the under-/over-collection of these costs for IPL and WPL are recorded in current “Regulatory assets” or current “Regulatory liabilities” on the balance sheets until they are reflected in future billings to customers. | ||||||||||||
Financial Instruments | Financial instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. The fair value of those financial instruments that are determined to be derivatives are recorded as assets or liabilities on the balance sheets. At the end of each reporting period, derivative instruments representing unrealized gain positions are reported as derivative assets, and derivative instruments representing unrealized loss positions are reported as derivative liabilities. Certain commodity purchase and sales contracts qualify for and have been designated under the normal purchase and sale exception. Based on this designation, such contracts are accounted for on the accrual basis of accounting. Alliant Energy, IPL and WPL have elected to not net the fair value amounts of derivatives subject to a master netting arrangement by counterparty. Alliant Energy, IPL and WPL do not offset fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) against fair value amounts recognized for derivative instruments that are executed with the same counterparty under the same master netting arrangement. | |||||||||||
Asset Impairments | Property, Plant and Equipment of Regulated Operations - Property, plant and equipment of regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate all or a portion of the carrying value of the assets may be disallowed for rate-making purposes. If IPL or WPL are disallowed recovery of any portion of the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the amount of the carrying value that was disallowed. If IPL or WPL are disallowed a full or partial return on the carrying value of their regulated property, plant and equipment that is under construction, has been recently completed or is probable of abandonment, an impairment charge is recognized equal to the difference between the carrying value and the present value of the future revenues expected from their regulated property, plant and equipment. Refer to Note 3 for discussion of adjustments made by Alliant Energy and IPL in 2013 to the carrying value of IPL’s Whispering Willow - East wind project, based on the MPUC approving full cost recovery of the Minnesota retail portion of the wind project construction costs in 2013. | |||||||||||
Property, Plant and Equipment of Non-regulated Operations - Property, plant and equipment of non-regulated operations are reviewed for possible impairment whenever events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Impairment is indicated if the carrying value of an asset exceeds its undiscounted future cash flows. An impairment charge is recognized equal to the amount the carrying value exceeds the asset’s fair value. | ||||||||||||
Unconsolidated Equity Investments - If events or circumstances indicate the carrying value of investments accounted for under the equity method of accounting may not be recoverable and the decline in value is other than temporary, potential impairment is assessed. If an impairment is indicated, a charge is recognized equal to the amount the carrying value exceeds the investment’s fair value. | ||||||||||||
Emission Allowances | Emission allowances are granted by the EPA at zero cost and permit the holder of the allowances to emit certain gaseous by-products of fossil fuel combustion, including SO2 and NOx. Purchased emission allowances are recorded as intangible assets at their original cost and evaluated for impairment as long-lived assets to be held and used. Emission allowances allocated or acquired are held primarily for consumption. | |||||||||||
Amortization of emission allowances recorded in “Electric production fuel and energy purchases” in the income statements in 2014, 2013 and 2012 was not material, and is based upon a weighted average cost for each EPA compliance program category of vintage year utilized during the reporting period. As of December 31, 2014, future estimated amortization expense for emission allowances was not material for 2015 through 2019. | ||||||||||||
Cash inflows and outflows related to sales and purchases of emission allowances are presented in investing activities in the cash flows statements. | ||||||||||||
Asset Retirement Obligations | The fair value of a legal obligation associated with the retirement costs of an asset is recorded as a liability with an equivalent amount added to the asset cost when an asset is placed in service, when a legal obligation is subsequently identified or when sufficient information becomes available to determine a reasonable estimate of the fair value of future retirement costs. The fair value of AROs is determined using discounted cash flows analyses. The liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. Accretion and depreciation expenses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory assets on the balance sheets. Upon regulatory approval to recover IPL’s AROs expenditures, its regulatory assets are amortized to depreciation and amortization expenses in Alliant Energy’s and IPL’s income statements over the same time period that IPL’s customer rates are increased to recover the ARO expenditures. Effective January 1, 2013, WPL’s regulatory assets related to AROs are being recovered as a component of depreciation rates included in the most recent depreciation study approved by the PSCW in its May 2012 order. Accretion and depreciation expenses related to AROs for Alliant Energy’s non-regulated operations are recorded to depreciation and amortization expenses in Alliant Energy’s income statements. Upon settlement of the ARO liability, an entity settles the obligation for its recorded amount or incurs a gain or loss. Any gains or losses related to AROs for IPL’s and WPL’s regulated operations are recorded to regulatory liabilities or regulatory assets on the balance sheets. | |||||||||||
Debt Issuance and Retirement Costs | Debt issuance costs and debt premiums or discounts are deferred and amortized over the expected life of each debt issue, considering maturity dates and, if applicable, redemption rights held by others. Alliant Energy’s non-regulated businesses and Corporate Services expense in the period of retirement any unamortized debt issuance costs and debt premiums or discounts on debt retired early. | |||||||||||
Allowance for Doubtful Accounts | Allowances for doubtful accounts are recorded for estimated losses resulting from the inability of customers to make required payments. Allowances for doubtful accounts are estimated based on historical write-offs, customer arrears and other economic factors within IPL’s and WPL’s service territories. | |||||||||||
Variable Interest Entities | An entity is considered a VIE if its equity investors do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties, or its equity investors lack any of the following characteristics: (1) power, through voting rights or similar rights, to direct the activities of the entity that most significantly impact the entity’s economic performance; (2) the obligation to absorb expected losses of the entity; or (3) the right to receive expected benefits of the entity. The primary beneficiary of a VIE is required to consolidate the VIE. The financial statements did not reflect any VIEs on a consolidated basis. | |||||||||||
New Accounting Pronouncements | Revenue Recognition - In May 2014, FASB issued an accounting standard providing principles for recognizing revenue for the transfer of promised goods or services to customers with the consideration to which the entity expects to be entitled in exchange for those goods or services. This standard also requires disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2017 and are currently evaluating the impact on their financial condition and results of operations. | |||||||||||
Discontinued Operations - In April 2014, FASB issued an accounting standard that changes the criteria for reporting and qualifying for discontinued operations. Under the new standard, a disposal of a component or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operational and financial results. The new standard also requires additional disclosures about discontinued operations and individually significant components of an entity that are disposed of or that are classified as held for sale and do not qualify for discontinued operations. In the fourth quarter of 2014, Alliant Energy, IPL and WPL elected to early adopt the new standard, which is applied prospectively. As of December 31, 2014, IPL’s Minnesota natural gas distribution assets qualified as held for sale. Alliant Energy and IPL evaluated the anticipated sale of these assets and believe it did not represent a strategic shift that has, or will have, a major effect on their operational and financial results. As a result, the operating results of IPL’s Minnesota natural gas distribution assets have not been separately classified and reported as discontinued operations in Alliant Energy’s and IPL’s income statements. Alliant Energy and IPL are currently evaluating the impact of the new standard on IPL’s anticipated sale of its Minnesota electric distribution assets and currently do not expect the anticipated sale of these assets to qualify as discontinued operations under the new standard. |
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Schedule of Average Rates of Depreciation | The average rates of depreciation for electric, gas and other properties, consistent with current rate-making practices, were as follows: | |||||||||||
IPL | WPL | |||||||||||
2014 | 2013 | 2012 | 2014 | 2013 (a) | 2012 | |||||||
Electric - generation | 3.60% | 3.60% | 3.70% | 3.20% | 3.30% | 3.20% | ||||||
Electric - distribution | 2.50% | 2.50% | 2.50% | 2.70% | 2.70% | 2.90% | ||||||
Gas | 3.30% | 3.40% | 3.40% | 2.50% | 2.50% | 2.60% | ||||||
Other | 4.20% | 4.40% | 4.50% | 6.00% | 5.10% | 5.30% | ||||||
(a) | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPL’s requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. | |||||||||||
Schedule of Allowance for Funds Used During Construction Recovery Rate | The AFUDC recovery rates, computed in accordance with the prescribed regulatory formula, were as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
IPL (FERC formula - Marshalltown CWIP) (a) | 8.00% | —% | —% | |||||||||
IPL (FERC formula - other CWIP) | 7.80% | 8.20% | 8.20% | |||||||||
WPL (PSCW formula - retail jurisdiction) | 8.20% | 8.20% | 8.80% | |||||||||
WPL (FERC formula - wholesale jurisdiction) | 4.10% | 4.50% | 7.90% | |||||||||
(a) | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. | |||||||||||
IPL [Member] | ||||||||||||
Schedule of Average Rates of Depreciation | The average rates of depreciation for electric, gas and other properties, consistent with current rate-making practices, were as follows: | |||||||||||
IPL | WPL | |||||||||||
2014 | 2013 | 2012 | 2014 | 2013 (a) | 2012 | |||||||
Electric - generation | 3.60% | 3.60% | 3.70% | 3.20% | 3.30% | 3.20% | ||||||
Electric - distribution | 2.50% | 2.50% | 2.50% | 2.70% | 2.70% | 2.90% | ||||||
Gas | 3.30% | 3.40% | 3.40% | 2.50% | 2.50% | 2.60% | ||||||
Other | 4.20% | 4.40% | 4.50% | 6.00% | 5.10% | 5.30% | ||||||
(a) | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPL’s requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. | |||||||||||
Schedule of Allowance for Funds Used During Construction Recovery Rate | The AFUDC recovery rates, computed in accordance with the prescribed regulatory formula, were as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
IPL (FERC formula - Marshalltown CWIP) (a) | 8.00% | —% | —% | |||||||||
IPL (FERC formula - other CWIP) | 7.80% | 8.20% | 8.20% | |||||||||
WPL (PSCW formula - retail jurisdiction) | 8.20% | 8.20% | 8.80% | |||||||||
WPL (FERC formula - wholesale jurisdiction) | 4.10% | 4.50% | 7.90% | |||||||||
(a) | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. | |||||||||||
WPL [Member] | ||||||||||||
Schedule of Average Rates of Depreciation | The average rates of depreciation for electric, gas and other properties, consistent with current rate-making practices, were as follows: | |||||||||||
IPL | WPL | |||||||||||
2014 | 2013 | 2012 | 2014 | 2013 (a) | 2012 | |||||||
Electric - generation | 3.60% | 3.60% | 3.70% | 3.20% | 3.30% | 3.20% | ||||||
Electric - distribution | 2.50% | 2.50% | 2.50% | 2.70% | 2.70% | 2.90% | ||||||
Gas | 3.30% | 3.40% | 3.40% | 2.50% | 2.50% | 2.60% | ||||||
Other | 4.20% | 4.40% | 4.50% | 6.00% | 5.10% | 5.30% | ||||||
(a) | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPL’s requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. | |||||||||||
Schedule of Allowance for Funds Used During Construction Recovery Rate | The AFUDC recovery rates, computed in accordance with the prescribed regulatory formula, were as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
IPL (FERC formula - Marshalltown CWIP) (a) | 8.00% | —% | —% | |||||||||
IPL (FERC formula - other CWIP) | 7.80% | 8.20% | 8.20% | |||||||||
WPL (PSCW formula - retail jurisdiction) | 8.20% | 8.20% | 8.80% | |||||||||
WPL (FERC formula - wholesale jurisdiction) | 4.10% | 4.50% | 7.90% | |||||||||
(a) | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. |
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||||
Schedule of Regulatory Assets | At December 31, regulatory assets were comprised of the following items (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Tax-related | $955.30 | $829.70 | $928.00 | $798.60 | $27.30 | $31.10 | ||||||||||||||||||
Pension and OPEB costs | 570.2 | 355.3 | 287.9 | 174.2 | 282.3 | 181.1 | ||||||||||||||||||
AROs | 73.7 | 65.7 | 41.4 | 36.7 | 32.3 | 29 | ||||||||||||||||||
Derivatives | 46.9 | 21.1 | 28 | 5.9 | 18.9 | 15.2 | ||||||||||||||||||
Commodity cost recovery | 31.1 | 2 | 0.4 | 0.7 | 30.7 | 1.3 | ||||||||||||||||||
Emission allowances | 27.4 | 30 | 27.4 | 30 | — | — | ||||||||||||||||||
Debt redemption costs | 16.1 | 17.9 | 10.9 | 12.2 | 5.2 | 5.7 | ||||||||||||||||||
Environmental-related costs | 16 | 25 | 11.5 | 21 | 4.5 | 4 | ||||||||||||||||||
Other | 47 | 66.5 | 22.4 | 34.2 | 24.6 | 32.3 | ||||||||||||||||||
$1,783.70 | $1,413.20 | $1,357.90 | $1,113.50 | $425.80 | $299.70 | |||||||||||||||||||
Schedule of Regulatory Liabilities | At December 31, regulatory liabilities were comprised of the following items (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cost of removal obligations | $421.70 | $418.90 | $279.10 | $277.70 | $142.60 | $141.20 | ||||||||||||||||||
IPL’s tax benefit riders | 243 | 265.4 | 243 | 265.4 | — | — | ||||||||||||||||||
Energy efficiency cost recovery | 64.3 | 52.7 | — | 9.3 | 64.3 | 43.4 | ||||||||||||||||||
IPL’s electric transmission cost recovery | 19.4 | 14.6 | 19.4 | 14.6 | — | — | ||||||||||||||||||
Commodity cost recovery | 15.4 | 7.5 | 15.1 | 5.5 | 0.3 | 2 | ||||||||||||||||||
IPL’s electric transmission assets sale | 11.3 | 21.6 | 11.3 | 21.6 | — | — | ||||||||||||||||||
Other | 46.1 | 40.8 | 15.6 | 20.8 | 30.5 | 20 | ||||||||||||||||||
$821.20 | $821.50 | $583.50 | $614.90 | $237.70 | $206.60 | |||||||||||||||||||
Tax Benefit Riders | In 2014, Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by ($22) million as follows (in millions): | |||||||||||||||||||||||
Electric tax benefit rider credits | ($85 | ) | ||||||||||||||||||||||
Gas tax benefit rider credits | (12 | ) | ||||||||||||||||||||||
Tax accounting method changes | 75 | |||||||||||||||||||||||
($22 | ) | |||||||||||||||||||||||
Electric Tax Benefit Rider | Alliant Energy and IPL recognize an offsetting reduction to income tax expense for the after-tax amounts credited to IPL’s retail electric customers’ bills in Iowa, resulting in no impact to Alliant Energy’s and IPL’s net income from the electric tax benefit rider as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Credit to IPL’s Iowa retail electric customers’ bills with reduction to electric revenues | $85 | $79 | $83 | |||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 35 | 33 | 35 | |||||||||||||||||||||
Income tax benefit representing tax benefits realized from electric tax benefit rider | 50 | 46 | 48 | |||||||||||||||||||||
Revenue Requirement Adjustment | The revenue requirement adjustment resulted in increases to electric revenues in Alliant Energy’s and IPL’s income statements and was recognized through the energy adjustment clause as a reduction of the credits on IPL’s Iowa retail electric customers’ bills from the electric tax benefit rider as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Revenue requirement adjustment | $15 | $24 | ||||||||||||||||||||||
Gas Tax Benefit Rider | Alliant Energy and IPL utilized gas tax benefit rider-related regulatory liabilities to credit IPL’s Iowa retail gas customers’ bills as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Credit to IPL’s Iowa retail gas customers’ bills with reduction to gas revenues | $12 | $11 | ||||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 5 | 4 | ||||||||||||||||||||||
Income tax benefit representing tax benefits realized from gas tax benefit rider | 7 | 7 | ||||||||||||||||||||||
Customer Billing Credits | The settlement agreement extends IPL’s Iowa retail electric base rates authorized in its 2009 test year rate case through 2016 and provides targeted retail electric customer billing credits of $105 million in aggregate, beginning May 2014 as follows (in millions): | |||||||||||||||||||||||
2014 | 2015 | 2016 | ||||||||||||||||||||||
Billing credits to reduce retail electric customers’ bills | $70 | $25 | $10 | |||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||||
Schedule of Regulatory Assets | At December 31, regulatory assets were comprised of the following items (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Tax-related | $955.30 | $829.70 | $928.00 | $798.60 | $27.30 | $31.10 | ||||||||||||||||||
Pension and OPEB costs | 570.2 | 355.3 | 287.9 | 174.2 | 282.3 | 181.1 | ||||||||||||||||||
AROs | 73.7 | 65.7 | 41.4 | 36.7 | 32.3 | 29 | ||||||||||||||||||
Derivatives | 46.9 | 21.1 | 28 | 5.9 | 18.9 | 15.2 | ||||||||||||||||||
Commodity cost recovery | 31.1 | 2 | 0.4 | 0.7 | 30.7 | 1.3 | ||||||||||||||||||
Emission allowances | 27.4 | 30 | 27.4 | 30 | — | — | ||||||||||||||||||
Debt redemption costs | 16.1 | 17.9 | 10.9 | 12.2 | 5.2 | 5.7 | ||||||||||||||||||
Environmental-related costs | 16 | 25 | 11.5 | 21 | 4.5 | 4 | ||||||||||||||||||
Other | 47 | 66.5 | 22.4 | 34.2 | 24.6 | 32.3 | ||||||||||||||||||
$1,783.70 | $1,413.20 | $1,357.90 | $1,113.50 | $425.80 | $299.70 | |||||||||||||||||||
Schedule of Regulatory Liabilities | At December 31, regulatory liabilities were comprised of the following items (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cost of removal obligations | $421.70 | $418.90 | $279.10 | $277.70 | $142.60 | $141.20 | ||||||||||||||||||
IPL’s tax benefit riders | 243 | 265.4 | 243 | 265.4 | — | — | ||||||||||||||||||
Energy efficiency cost recovery | 64.3 | 52.7 | — | 9.3 | 64.3 | 43.4 | ||||||||||||||||||
IPL’s electric transmission cost recovery | 19.4 | 14.6 | 19.4 | 14.6 | — | — | ||||||||||||||||||
Commodity cost recovery | 15.4 | 7.5 | 15.1 | 5.5 | 0.3 | 2 | ||||||||||||||||||
IPL’s electric transmission assets sale | 11.3 | 21.6 | 11.3 | 21.6 | — | — | ||||||||||||||||||
Other | 46.1 | 40.8 | 15.6 | 20.8 | 30.5 | 20 | ||||||||||||||||||
$821.20 | $821.50 | $583.50 | $614.90 | $237.70 | $206.60 | |||||||||||||||||||
Tax Benefit Riders | In 2014, Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by ($22) million as follows (in millions): | |||||||||||||||||||||||
Electric tax benefit rider credits | ($85 | ) | ||||||||||||||||||||||
Gas tax benefit rider credits | (12 | ) | ||||||||||||||||||||||
Tax accounting method changes | 75 | |||||||||||||||||||||||
($22 | ) | |||||||||||||||||||||||
Electric Tax Benefit Rider | Alliant Energy and IPL recognize an offsetting reduction to income tax expense for the after-tax amounts credited to IPL’s retail electric customers’ bills in Iowa, resulting in no impact to Alliant Energy’s and IPL’s net income from the electric tax benefit rider as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Credit to IPL’s Iowa retail electric customers’ bills with reduction to electric revenues | $85 | $79 | $83 | |||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 35 | 33 | 35 | |||||||||||||||||||||
Income tax benefit representing tax benefits realized from electric tax benefit rider | 50 | 46 | 48 | |||||||||||||||||||||
Revenue Requirement Adjustment | The revenue requirement adjustment resulted in increases to electric revenues in Alliant Energy’s and IPL’s income statements and was recognized through the energy adjustment clause as a reduction of the credits on IPL’s Iowa retail electric customers’ bills from the electric tax benefit rider as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Revenue requirement adjustment | $15 | $24 | ||||||||||||||||||||||
Gas Tax Benefit Rider | Alliant Energy and IPL utilized gas tax benefit rider-related regulatory liabilities to credit IPL’s Iowa retail gas customers’ bills as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Credit to IPL’s Iowa retail gas customers’ bills with reduction to gas revenues | $12 | $11 | ||||||||||||||||||||||
Income tax benefit resulting from decreased taxable income caused by credits | 5 | 4 | ||||||||||||||||||||||
Income tax benefit representing tax benefits realized from gas tax benefit rider | 7 | 7 | ||||||||||||||||||||||
Customer Billing Credits | The settlement agreement extends IPL’s Iowa retail electric base rates authorized in its 2009 test year rate case through 2016 and provides targeted retail electric customer billing credits of $105 million in aggregate, beginning May 2014 as follows (in millions): | |||||||||||||||||||||||
2014 | 2015 | 2016 | ||||||||||||||||||||||
Billing credits to reduce retail electric customers’ bills | $70 | $25 | $10 | |||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||||
Schedule of Regulatory Assets | At December 31, regulatory assets were comprised of the following items (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Tax-related | $955.30 | $829.70 | $928.00 | $798.60 | $27.30 | $31.10 | ||||||||||||||||||
Pension and OPEB costs | 570.2 | 355.3 | 287.9 | 174.2 | 282.3 | 181.1 | ||||||||||||||||||
AROs | 73.7 | 65.7 | 41.4 | 36.7 | 32.3 | 29 | ||||||||||||||||||
Derivatives | 46.9 | 21.1 | 28 | 5.9 | 18.9 | 15.2 | ||||||||||||||||||
Commodity cost recovery | 31.1 | 2 | 0.4 | 0.7 | 30.7 | 1.3 | ||||||||||||||||||
Emission allowances | 27.4 | 30 | 27.4 | 30 | — | — | ||||||||||||||||||
Debt redemption costs | 16.1 | 17.9 | 10.9 | 12.2 | 5.2 | 5.7 | ||||||||||||||||||
Environmental-related costs | 16 | 25 | 11.5 | 21 | 4.5 | 4 | ||||||||||||||||||
Other | 47 | 66.5 | 22.4 | 34.2 | 24.6 | 32.3 | ||||||||||||||||||
$1,783.70 | $1,413.20 | $1,357.90 | $1,113.50 | $425.80 | $299.70 | |||||||||||||||||||
Schedule of Regulatory Liabilities | At December 31, regulatory liabilities were comprised of the following items (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cost of removal obligations | $421.70 | $418.90 | $279.10 | $277.70 | $142.60 | $141.20 | ||||||||||||||||||
IPL’s tax benefit riders | 243 | 265.4 | 243 | 265.4 | — | — | ||||||||||||||||||
Energy efficiency cost recovery | 64.3 | 52.7 | — | 9.3 | 64.3 | 43.4 | ||||||||||||||||||
IPL’s electric transmission cost recovery | 19.4 | 14.6 | 19.4 | 14.6 | — | — | ||||||||||||||||||
Commodity cost recovery | 15.4 | 7.5 | 15.1 | 5.5 | 0.3 | 2 | ||||||||||||||||||
IPL’s electric transmission assets sale | 11.3 | 21.6 | 11.3 | 21.6 | — | — | ||||||||||||||||||
Other | 46.1 | 40.8 | 15.6 | 20.8 | 30.5 | 20 | ||||||||||||||||||
$821.20 | $821.50 | $583.50 | $614.90 | $237.70 | $206.60 | |||||||||||||||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment | At December 31, details of property, plant and equipment on the balance sheets were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Utility: | ||||||||||||||||||||||||||||||||||||
Electric plant: | ||||||||||||||||||||||||||||||||||||
In service: | ||||||||||||||||||||||||||||||||||||
Generation (a) | $5,463.00 | $4,792.00 | $2,872.40 | $2,513.20 | $2,590.60 | $2,278.80 | ||||||||||||||||||||||||||||||
Distribution | 4,435.40 | 4,179.60 | 2,471.70 | 2,311.20 | 1,963.70 | 1,868.40 | ||||||||||||||||||||||||||||||
Other | 309.1 | 286.3 | 215.5 | 210.5 | 93.6 | 75.8 | ||||||||||||||||||||||||||||||
Anticipated to be retired early (b) | 157.6 | 157.8 | — | — | 157.6 | 157.8 | ||||||||||||||||||||||||||||||
Total electric plant | 10,365.10 | 9,415.70 | 5,559.60 | 5,034.90 | 4,805.50 | 4,380.80 | ||||||||||||||||||||||||||||||
Gas plant in service | 946.2 | 909.9 | 474 | 456.8 | 472.2 | 453.1 | ||||||||||||||||||||||||||||||
Other plant in service | 539.3 | 547.9 | 298.8 | 302.8 | 240.5 | 245.1 | ||||||||||||||||||||||||||||||
Accumulated depreciation | (3,923.1 | ) | (3,726.2 | ) | (2,124.5 | ) | (2,025.3 | ) | (1,798.6 | ) | (1,700.9 | ) | ||||||||||||||||||||||||
Net plant | 7,927.50 | 7,147.30 | 4,207.90 | 3,769.20 | 3,719.60 | 3,378.10 | ||||||||||||||||||||||||||||||
Leased Sheboygan Falls Energy Facility, net (c) | — | — | — | — | 64.7 | 70.9 | ||||||||||||||||||||||||||||||
Construction work in progress | 479.1 | 677.9 | 325 | 346.4 | 154.1 | 331.5 | ||||||||||||||||||||||||||||||
Other, net | 22.3 | 22.3 | 21.8 | 21.2 | 0.5 | 1.1 | ||||||||||||||||||||||||||||||
Total utility | 8,428.90 | 7,847.50 | 4,554.70 | 4,136.80 | 3,938.90 | 3,781.60 | ||||||||||||||||||||||||||||||
Non-regulated and other: | ||||||||||||||||||||||||||||||||||||
Non-regulated Generation, net (d) | 240.1 | 249.4 | — | — | — | — | ||||||||||||||||||||||||||||||
Corporate Services and other, net (e) | 269.4 | 229.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Total non-regulated and other | 509.5 | 479 | — | — | — | — | ||||||||||||||||||||||||||||||
Total property, plant and equipment | $8,938.40 | $8,326.50 | $4,554.70 | $4,136.80 | $3,938.90 | $3,781.60 | ||||||||||||||||||||||||||||||
(a) | Includes various emission controls projects placed in service in 2014, which are discussed in “Emission Controls Projects” below. | |||||||||||||||||||||||||||||||||||
(b) | In 2013, WPL received approval from MISO to retire Edgewater Unit 3, and Nelson Dewey Units 1 and 2. WPL currently anticipates retiring these EGUs by December 31, 2015, contingent on completion of transmission network upgrades needed for system reliability. WPL is recovering the remaining net book value of these EGUs over a 10-year period beginning January 1, 2013 pursuant to a May 2012 PSCW order. | |||||||||||||||||||||||||||||||||||
(c) | Less accumulated amortization of $59.1 million and $52.9 million for WPL as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(d) | Less accumulated depreciation of $49.5 million and $40.0 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(e) | Less accumulated depreciation of $229.1 million and $214.2 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
Schedule Of Allowance For Funds Used During Construction | The amount of AFUDC generated by equity and debt components was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Equity | $23.10 | $20.30 | $14.10 | $17.10 | $13.80 | $5.20 | $6.00 | $6.50 | $8.90 | |||||||||||||||||||||||||||
Debt | 11.7 | 10.5 | 7.8 | 8.8 | 7.2 | 3.2 | 2.9 | 3.3 | 4.6 | |||||||||||||||||||||||||||
$34.80 | $30.80 | $21.90 | $25.90 | $21.00 | $8.40 | $8.90 | $9.80 | $13.50 | ||||||||||||||||||||||||||||
Schedule Of Allowance for Funds Used During Construction By Project | AFUDC related to various construction projects was recognized in the income statements as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Ottumwa Unit 1 | $10.60 | $8.00 | $2.00 | |||||||||||||||||||||||||||||||||
Emission controls - George Neal Units 3 and 4 | 1.4 | 5.1 | 0.9 | |||||||||||||||||||||||||||||||||
Marshalltown | 3.7 | — | — | |||||||||||||||||||||||||||||||||
Other | 10.2 | 7.9 | 5.5 | |||||||||||||||||||||||||||||||||
25.9 | 21 | 8.4 | ||||||||||||||||||||||||||||||||||
WPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Columbia Units 1 and 2 | 4 | 7.2 | 3.9 | |||||||||||||||||||||||||||||||||
Emission controls - Edgewater Unit 5 | 2.7 | — | 7.2 | |||||||||||||||||||||||||||||||||
Other | 2.2 | 2.6 | 2.4 | |||||||||||||||||||||||||||||||||
8.9 | 9.8 | 13.5 | ||||||||||||||||||||||||||||||||||
Alliant Energy | $34.80 | $30.80 | $21.90 | |||||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment | At December 31, details of property, plant and equipment on the balance sheets were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Utility: | ||||||||||||||||||||||||||||||||||||
Electric plant: | ||||||||||||||||||||||||||||||||||||
In service: | ||||||||||||||||||||||||||||||||||||
Generation (a) | $5,463.00 | $4,792.00 | $2,872.40 | $2,513.20 | $2,590.60 | $2,278.80 | ||||||||||||||||||||||||||||||
Distribution | 4,435.40 | 4,179.60 | 2,471.70 | 2,311.20 | 1,963.70 | 1,868.40 | ||||||||||||||||||||||||||||||
Other | 309.1 | 286.3 | 215.5 | 210.5 | 93.6 | 75.8 | ||||||||||||||||||||||||||||||
Anticipated to be retired early (b) | 157.6 | 157.8 | — | — | 157.6 | 157.8 | ||||||||||||||||||||||||||||||
Total electric plant | 10,365.10 | 9,415.70 | 5,559.60 | 5,034.90 | 4,805.50 | 4,380.80 | ||||||||||||||||||||||||||||||
Gas plant in service | 946.2 | 909.9 | 474 | 456.8 | 472.2 | 453.1 | ||||||||||||||||||||||||||||||
Other plant in service | 539.3 | 547.9 | 298.8 | 302.8 | 240.5 | 245.1 | ||||||||||||||||||||||||||||||
Accumulated depreciation | (3,923.1 | ) | (3,726.2 | ) | (2,124.5 | ) | (2,025.3 | ) | (1,798.6 | ) | (1,700.9 | ) | ||||||||||||||||||||||||
Net plant | 7,927.50 | 7,147.30 | 4,207.90 | 3,769.20 | 3,719.60 | 3,378.10 | ||||||||||||||||||||||||||||||
Leased Sheboygan Falls Energy Facility, net (c) | — | — | — | — | 64.7 | 70.9 | ||||||||||||||||||||||||||||||
Construction work in progress | 479.1 | 677.9 | 325 | 346.4 | 154.1 | 331.5 | ||||||||||||||||||||||||||||||
Other, net | 22.3 | 22.3 | 21.8 | 21.2 | 0.5 | 1.1 | ||||||||||||||||||||||||||||||
Total utility | 8,428.90 | 7,847.50 | 4,554.70 | 4,136.80 | 3,938.90 | 3,781.60 | ||||||||||||||||||||||||||||||
Non-regulated and other: | ||||||||||||||||||||||||||||||||||||
Non-regulated Generation, net (d) | 240.1 | 249.4 | — | — | — | — | ||||||||||||||||||||||||||||||
Corporate Services and other, net (e) | 269.4 | 229.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Total non-regulated and other | 509.5 | 479 | — | — | — | — | ||||||||||||||||||||||||||||||
Total property, plant and equipment | $8,938.40 | $8,326.50 | $4,554.70 | $4,136.80 | $3,938.90 | $3,781.60 | ||||||||||||||||||||||||||||||
(a) | Includes various emission controls projects placed in service in 2014, which are discussed in “Emission Controls Projects” below. | |||||||||||||||||||||||||||||||||||
(b) | In 2013, WPL received approval from MISO to retire Edgewater Unit 3, and Nelson Dewey Units 1 and 2. WPL currently anticipates retiring these EGUs by December 31, 2015, contingent on completion of transmission network upgrades needed for system reliability. WPL is recovering the remaining net book value of these EGUs over a 10-year period beginning January 1, 2013 pursuant to a May 2012 PSCW order. | |||||||||||||||||||||||||||||||||||
(c) | Less accumulated amortization of $59.1 million and $52.9 million for WPL as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(d) | Less accumulated depreciation of $49.5 million and $40.0 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(e) | Less accumulated depreciation of $229.1 million and $214.2 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
Schedule Of Allowance For Funds Used During Construction | The amount of AFUDC generated by equity and debt components was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Equity | $23.10 | $20.30 | $14.10 | $17.10 | $13.80 | $5.20 | $6.00 | $6.50 | $8.90 | |||||||||||||||||||||||||||
Debt | 11.7 | 10.5 | 7.8 | 8.8 | 7.2 | 3.2 | 2.9 | 3.3 | 4.6 | |||||||||||||||||||||||||||
$34.80 | $30.80 | $21.90 | $25.90 | $21.00 | $8.40 | $8.90 | $9.80 | $13.50 | ||||||||||||||||||||||||||||
Schedule Of Allowance for Funds Used During Construction By Project | AFUDC related to various construction projects was recognized in the income statements as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Ottumwa Unit 1 | $10.60 | $8.00 | $2.00 | |||||||||||||||||||||||||||||||||
Emission controls - George Neal Units 3 and 4 | 1.4 | 5.1 | 0.9 | |||||||||||||||||||||||||||||||||
Marshalltown | 3.7 | — | — | |||||||||||||||||||||||||||||||||
Other | 10.2 | 7.9 | 5.5 | |||||||||||||||||||||||||||||||||
25.9 | 21 | 8.4 | ||||||||||||||||||||||||||||||||||
WPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Columbia Units 1 and 2 | 4 | 7.2 | 3.9 | |||||||||||||||||||||||||||||||||
Emission controls - Edgewater Unit 5 | 2.7 | — | 7.2 | |||||||||||||||||||||||||||||||||
Other | 2.2 | 2.6 | 2.4 | |||||||||||||||||||||||||||||||||
8.9 | 9.8 | 13.5 | ||||||||||||||||||||||||||||||||||
Alliant Energy | $34.80 | $30.80 | $21.90 | |||||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment | At December 31, details of property, plant and equipment on the balance sheets were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Utility: | ||||||||||||||||||||||||||||||||||||
Electric plant: | ||||||||||||||||||||||||||||||||||||
In service: | ||||||||||||||||||||||||||||||||||||
Generation (a) | $5,463.00 | $4,792.00 | $2,872.40 | $2,513.20 | $2,590.60 | $2,278.80 | ||||||||||||||||||||||||||||||
Distribution | 4,435.40 | 4,179.60 | 2,471.70 | 2,311.20 | 1,963.70 | 1,868.40 | ||||||||||||||||||||||||||||||
Other | 309.1 | 286.3 | 215.5 | 210.5 | 93.6 | 75.8 | ||||||||||||||||||||||||||||||
Anticipated to be retired early (b) | 157.6 | 157.8 | — | — | 157.6 | 157.8 | ||||||||||||||||||||||||||||||
Total electric plant | 10,365.10 | 9,415.70 | 5,559.60 | 5,034.90 | 4,805.50 | 4,380.80 | ||||||||||||||||||||||||||||||
Gas plant in service | 946.2 | 909.9 | 474 | 456.8 | 472.2 | 453.1 | ||||||||||||||||||||||||||||||
Other plant in service | 539.3 | 547.9 | 298.8 | 302.8 | 240.5 | 245.1 | ||||||||||||||||||||||||||||||
Accumulated depreciation | (3,923.1 | ) | (3,726.2 | ) | (2,124.5 | ) | (2,025.3 | ) | (1,798.6 | ) | (1,700.9 | ) | ||||||||||||||||||||||||
Net plant | 7,927.50 | 7,147.30 | 4,207.90 | 3,769.20 | 3,719.60 | 3,378.10 | ||||||||||||||||||||||||||||||
Leased Sheboygan Falls Energy Facility, net (c) | — | — | — | — | 64.7 | 70.9 | ||||||||||||||||||||||||||||||
Construction work in progress | 479.1 | 677.9 | 325 | 346.4 | 154.1 | 331.5 | ||||||||||||||||||||||||||||||
Other, net | 22.3 | 22.3 | 21.8 | 21.2 | 0.5 | 1.1 | ||||||||||||||||||||||||||||||
Total utility | 8,428.90 | 7,847.50 | 4,554.70 | 4,136.80 | 3,938.90 | 3,781.60 | ||||||||||||||||||||||||||||||
Non-regulated and other: | ||||||||||||||||||||||||||||||||||||
Non-regulated Generation, net (d) | 240.1 | 249.4 | — | — | — | — | ||||||||||||||||||||||||||||||
Corporate Services and other, net (e) | 269.4 | 229.6 | — | — | — | — | ||||||||||||||||||||||||||||||
Total non-regulated and other | 509.5 | 479 | — | — | — | — | ||||||||||||||||||||||||||||||
Total property, plant and equipment | $8,938.40 | $8,326.50 | $4,554.70 | $4,136.80 | $3,938.90 | $3,781.60 | ||||||||||||||||||||||||||||||
(a) | Includes various emission controls projects placed in service in 2014, which are discussed in “Emission Controls Projects” below. | |||||||||||||||||||||||||||||||||||
(b) | In 2013, WPL received approval from MISO to retire Edgewater Unit 3, and Nelson Dewey Units 1 and 2. WPL currently anticipates retiring these EGUs by December 31, 2015, contingent on completion of transmission network upgrades needed for system reliability. WPL is recovering the remaining net book value of these EGUs over a 10-year period beginning January 1, 2013 pursuant to a May 2012 PSCW order. | |||||||||||||||||||||||||||||||||||
(c) | Less accumulated amortization of $59.1 million and $52.9 million for WPL as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(d) | Less accumulated depreciation of $49.5 million and $40.0 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
(e) | Less accumulated depreciation of $229.1 million and $214.2 million for Alliant Energy as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
Schedule Of Allowance For Funds Used During Construction | The amount of AFUDC generated by equity and debt components was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Equity | $23.10 | $20.30 | $14.10 | $17.10 | $13.80 | $5.20 | $6.00 | $6.50 | $8.90 | |||||||||||||||||||||||||||
Debt | 11.7 | 10.5 | 7.8 | 8.8 | 7.2 | 3.2 | 2.9 | 3.3 | 4.6 | |||||||||||||||||||||||||||
$34.80 | $30.80 | $21.90 | $25.90 | $21.00 | $8.40 | $8.90 | $9.80 | $13.50 | ||||||||||||||||||||||||||||
Schedule Of Allowance for Funds Used During Construction By Project | AFUDC related to various construction projects was recognized in the income statements as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Ottumwa Unit 1 | $10.60 | $8.00 | $2.00 | |||||||||||||||||||||||||||||||||
Emission controls - George Neal Units 3 and 4 | 1.4 | 5.1 | 0.9 | |||||||||||||||||||||||||||||||||
Marshalltown | 3.7 | — | — | |||||||||||||||||||||||||||||||||
Other | 10.2 | 7.9 | 5.5 | |||||||||||||||||||||||||||||||||
25.9 | 21 | 8.4 | ||||||||||||||||||||||||||||||||||
WPL: | ||||||||||||||||||||||||||||||||||||
Emission controls - Columbia Units 1 and 2 | 4 | 7.2 | 3.9 | |||||||||||||||||||||||||||||||||
Emission controls - Edgewater Unit 5 | 2.7 | — | 7.2 | |||||||||||||||||||||||||||||||||
Other | 2.2 | 2.6 | 2.4 | |||||||||||||||||||||||||||||||||
8.9 | 9.8 | 13.5 | ||||||||||||||||||||||||||||||||||
Alliant Energy | $34.80 | $30.80 | $21.90 | |||||||||||||||||||||||||||||||||
JointlyOwned_Electric_Utility_1
Jointly-Owned Electric Utility Plant (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Jointly Owned Electric Utility Plant [Line Items] | |||||||||||||||||||||
Components of Jointly-Owned Electric Utility Plants | Information relative to IPL’s and WPL’s ownership interest in these jointly-owned coal-fired EGUs at December 31, 2014 was as follows (dollars in millions): | ||||||||||||||||||||
Accumulated | Construction | Cost of Removal | |||||||||||||||||||
In-service | Ownership | Electric | Provision for | Work in | Obligations Included in | ||||||||||||||||
Dates | Interest % | Plant | Depreciation | Progress | Regulatory Liabilities | ||||||||||||||||
IPL | |||||||||||||||||||||
Ottumwa Unit 1 | 1981 | 48 | % | $488.70 | $131.60 | $1.40 | $11.00 | ||||||||||||||
George Neal Unit 4 | 1979 | 25.7 | % | 183.3 | 71.3 | 0.3 | 12.3 | ||||||||||||||
George Neal Unit 3 | 1975 | 28 | % | 135.2 | 41.3 | 1.4 | 6 | ||||||||||||||
Louisa Unit 1 | 1983 | 4 | % | 35.4 | 20.4 | 0.1 | 3.3 | ||||||||||||||
842.6 | 264.6 | 3.2 | 32.6 | ||||||||||||||||||
WPL | |||||||||||||||||||||
Columbia Units 1-2 | 1975-1978 | 46.2 | % | 549 | 166.8 | 18.9 | 10.2 | ||||||||||||||
Edgewater Unit 4 | 1969 | 68.2 | % | 96.5 | 55.4 | 0.3 | 2.5 | ||||||||||||||
645.5 | 222.2 | 19.2 | 12.7 | ||||||||||||||||||
Alliant Energy | $1,488.10 | $486.80 | $22.40 | $45.30 | |||||||||||||||||
IPL [Member] | |||||||||||||||||||||
Jointly Owned Electric Utility Plant [Line Items] | |||||||||||||||||||||
Components of Jointly-Owned Electric Utility Plants | Information relative to IPL’s and WPL’s ownership interest in these jointly-owned coal-fired EGUs at December 31, 2014 was as follows (dollars in millions): | ||||||||||||||||||||
Accumulated | Construction | Cost of Removal | |||||||||||||||||||
In-service | Ownership | Electric | Provision for | Work in | Obligations Included in | ||||||||||||||||
Dates | Interest % | Plant | Depreciation | Progress | Regulatory Liabilities | ||||||||||||||||
IPL | |||||||||||||||||||||
Ottumwa Unit 1 | 1981 | 48 | % | $488.70 | $131.60 | $1.40 | $11.00 | ||||||||||||||
George Neal Unit 4 | 1979 | 25.7 | % | 183.3 | 71.3 | 0.3 | 12.3 | ||||||||||||||
George Neal Unit 3 | 1975 | 28 | % | 135.2 | 41.3 | 1.4 | 6 | ||||||||||||||
Louisa Unit 1 | 1983 | 4 | % | 35.4 | 20.4 | 0.1 | 3.3 | ||||||||||||||
842.6 | 264.6 | 3.2 | 32.6 | ||||||||||||||||||
WPL | |||||||||||||||||||||
Columbia Units 1-2 | 1975-1978 | 46.2 | % | 549 | 166.8 | 18.9 | 10.2 | ||||||||||||||
Edgewater Unit 4 | 1969 | 68.2 | % | 96.5 | 55.4 | 0.3 | 2.5 | ||||||||||||||
645.5 | 222.2 | 19.2 | 12.7 | ||||||||||||||||||
Alliant Energy | $1,488.10 | $486.80 | $22.40 | $45.30 | |||||||||||||||||
WPL [Member] | |||||||||||||||||||||
Jointly Owned Electric Utility Plant [Line Items] | |||||||||||||||||||||
Components of Jointly-Owned Electric Utility Plants | Information relative to IPL’s and WPL’s ownership interest in these jointly-owned coal-fired EGUs at December 31, 2014 was as follows (dollars in millions): | ||||||||||||||||||||
Accumulated | Construction | Cost of Removal | |||||||||||||||||||
In-service | Ownership | Electric | Provision for | Work in | Obligations Included in | ||||||||||||||||
Dates | Interest % | Plant | Depreciation | Progress | Regulatory Liabilities | ||||||||||||||||
IPL | |||||||||||||||||||||
Ottumwa Unit 1 | 1981 | 48 | % | $488.70 | $131.60 | $1.40 | $11.00 | ||||||||||||||
George Neal Unit 4 | 1979 | 25.7 | % | 183.3 | 71.3 | 0.3 | 12.3 | ||||||||||||||
George Neal Unit 3 | 1975 | 28 | % | 135.2 | 41.3 | 1.4 | 6 | ||||||||||||||
Louisa Unit 1 | 1983 | 4 | % | 35.4 | 20.4 | 0.1 | 3.3 | ||||||||||||||
842.6 | 264.6 | 3.2 | 32.6 | ||||||||||||||||||
WPL | |||||||||||||||||||||
Columbia Units 1-2 | 1975-1978 | 46.2 | % | 549 | 166.8 | 18.9 | 10.2 | ||||||||||||||
Edgewater Unit 4 | 1969 | 68.2 | % | 96.5 | 55.4 | 0.3 | 2.5 | ||||||||||||||
645.5 | 222.2 | 19.2 | 12.7 | ||||||||||||||||||
Alliant Energy | $1,488.10 | $486.80 | $22.40 | $45.30 | |||||||||||||||||
Receivables_Tables
Receivables (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||
Accounts Receivable Details | Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer, less allowance for doubtful accounts | $84.50 | $81.80 | $— | $— | $77.30 | $73.00 | ||||||||||||||||||
Unbilled utility revenues | 85.4 | 92.3 | — | — | 85.4 | 92.3 | ||||||||||||||||||
Deferred proceeds | 177.2 | 203.5 | 177.2 | 203.5 | — | — | ||||||||||||||||||
Other, less allowance for doubtful accounts | 80.2 | 95.7 | 39.5 | 43.4 | 23.1 | 33.1 | ||||||||||||||||||
$427.30 | $473.30 | $216.70 | $246.90 | $185.80 | $198.40 | |||||||||||||||||||
Allowance for doubtful accounts | Allowance for doubtful accounts at December 31 was as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer | $3.70 | $1.40 | $— | $— | $3.70 | $1.40 | ||||||||||||||||||
Other | 1.4 | 3.4 | 0.4 | 0.7 | 0.5 | 0.3 | ||||||||||||||||||
$5.10 | $4.80 | $0.40 | $0.70 | $4.20 | $1.70 | |||||||||||||||||||
Maximum And Average Outstanding Cash Proceeds | IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) | $150.00 | $170.00 | $160.00 | |||||||||||||||||||||
Average outstanding aggregate cash proceeds (based on daily outstanding balances) | 46.4 | 105.9 | 119.8 | |||||||||||||||||||||
Receivables Sold Under The Agreement | As of December 31, the attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Customer accounts receivable | $134.80 | $151.60 | ||||||||||||||||||||||
Unbilled utility revenues | 69.7 | 86.2 | ||||||||||||||||||||||
Other receivables | 0.1 | 0.2 | ||||||||||||||||||||||
Receivables sold to third party | 204.6 | 238 | ||||||||||||||||||||||
Less: cash proceeds (a) | 22 | 29 | ||||||||||||||||||||||
Deferred proceeds | 182.6 | 209 | ||||||||||||||||||||||
Less: allowance for doubtful accounts | 5.4 | 5.5 | ||||||||||||||||||||||
Fair value of deferred proceeds | $177.20 | $203.50 | ||||||||||||||||||||||
Outstanding receivables past due | $19.90 | $21.50 | ||||||||||||||||||||||
(a) | Changes in cash proceeds are presented in “Sales of accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements. | |||||||||||||||||||||||
Additional Attributes Of Receivables Sold Under The Agreement | Additional attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Collections reinvested in receivables | $1,997.90 | $1,880.80 | $1,771.60 | |||||||||||||||||||||
Credit losses, net of recoveries | 11.4 | 11.9 | 10 | |||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||
Accounts Receivable Details | Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer, less allowance for doubtful accounts | $84.50 | $81.80 | $— | $— | $77.30 | $73.00 | ||||||||||||||||||
Unbilled utility revenues | 85.4 | 92.3 | — | — | 85.4 | 92.3 | ||||||||||||||||||
Deferred proceeds | 177.2 | 203.5 | 177.2 | 203.5 | — | — | ||||||||||||||||||
Other, less allowance for doubtful accounts | 80.2 | 95.7 | 39.5 | 43.4 | 23.1 | 33.1 | ||||||||||||||||||
$427.30 | $473.30 | $216.70 | $246.90 | $185.80 | $198.40 | |||||||||||||||||||
Allowance for doubtful accounts | Allowance for doubtful accounts at December 31 was as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer | $3.70 | $1.40 | $— | $— | $3.70 | $1.40 | ||||||||||||||||||
Other | 1.4 | 3.4 | 0.4 | 0.7 | 0.5 | 0.3 | ||||||||||||||||||
$5.10 | $4.80 | $0.40 | $0.70 | $4.20 | $1.70 | |||||||||||||||||||
Maximum And Average Outstanding Cash Proceeds | IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) | $150.00 | $170.00 | $160.00 | |||||||||||||||||||||
Average outstanding aggregate cash proceeds (based on daily outstanding balances) | 46.4 | 105.9 | 119.8 | |||||||||||||||||||||
Receivables Sold Under The Agreement | As of December 31, the attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Customer accounts receivable | $134.80 | $151.60 | ||||||||||||||||||||||
Unbilled utility revenues | 69.7 | 86.2 | ||||||||||||||||||||||
Other receivables | 0.1 | 0.2 | ||||||||||||||||||||||
Receivables sold to third party | 204.6 | 238 | ||||||||||||||||||||||
Less: cash proceeds (a) | 22 | 29 | ||||||||||||||||||||||
Deferred proceeds | 182.6 | 209 | ||||||||||||||||||||||
Less: allowance for doubtful accounts | 5.4 | 5.5 | ||||||||||||||||||||||
Fair value of deferred proceeds | $177.20 | $203.50 | ||||||||||||||||||||||
Outstanding receivables past due | $19.90 | $21.50 | ||||||||||||||||||||||
(a) | Changes in cash proceeds are presented in “Sales of accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements. | |||||||||||||||||||||||
Additional Attributes Of Receivables Sold Under The Agreement | Additional attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Collections reinvested in receivables | $1,997.90 | $1,880.80 | $1,771.60 | |||||||||||||||||||||
Credit losses, net of recoveries | 11.4 | 11.9 | 10 | |||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||
Accounts Receivable Details | Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer, less allowance for doubtful accounts | $84.50 | $81.80 | $— | $— | $77.30 | $73.00 | ||||||||||||||||||
Unbilled utility revenues | 85.4 | 92.3 | — | — | 85.4 | 92.3 | ||||||||||||||||||
Deferred proceeds | 177.2 | 203.5 | 177.2 | 203.5 | — | — | ||||||||||||||||||
Other, less allowance for doubtful accounts | 80.2 | 95.7 | 39.5 | 43.4 | 23.1 | 33.1 | ||||||||||||||||||
$427.30 | $473.30 | $216.70 | $246.90 | $185.80 | $198.40 | |||||||||||||||||||
Allowance for doubtful accounts | Allowance for doubtful accounts at December 31 was as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Customer | $3.70 | $1.40 | $— | $— | $3.70 | $1.40 | ||||||||||||||||||
Other | 1.4 | 3.4 | 0.4 | 0.7 | 0.5 | 0.3 | ||||||||||||||||||
$5.10 | $4.80 | $0.40 | $0.70 | $4.20 | $1.70 | |||||||||||||||||||
Investments_Tables
Investments (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Investment [Line Items] | ||||||||||||||||||||||||
Unconsolidated Equity Investments | Alliant Energy’s and WPL’s unconsolidated investments accounted for under the equity method of accounting are as follows (in millions): | |||||||||||||||||||||||
Ownership | Carrying Value at | |||||||||||||||||||||||
Interest at | December 31, | Equity (Income) / Loss | ||||||||||||||||||||||
December 31, 2014 | 2014 | 2013 | 2014 | 2013 | 2012 | |||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||
ATC (a) | 16% | $286.50 | $272.10 | ($41.9 | ) | ($42.7 | ) | ($41.3 | ) | |||||||||||||||
Wisconsin River Power Company | 50% | 7.8 | 7 | (0.9 | ) | (1.0 | ) | (0.8 | ) | |||||||||||||||
Other | Various | 2.3 | 2.3 | 2.4 | — | 0.8 | ||||||||||||||||||
$296.60 | $281.40 | ($40.4 | ) | ($43.7 | ) | ($41.3 | ) | |||||||||||||||||
WPL | ||||||||||||||||||||||||
ATC (a) | 16% | $286.50 | $272.10 | ($41.9 | ) | ($42.7 | ) | ($41.3 | ) | |||||||||||||||
Wisconsin River Power Company | 50% | 7.8 | 7 | (0.9 | ) | (1.0 | ) | (0.8 | ) | |||||||||||||||
$294.30 | $279.10 | ($42.8 | ) | ($43.7 | ) | ($42.1 | ) | |||||||||||||||||
(a) | Alliant Energy and WPL have the ability to exercise significant influence over ATC’s financial and operating policies through their participation on ATC’s Board of Directors. Refer to Note 18 for information regarding related party transactions with ATC. | |||||||||||||||||||||||
Summary Financial Information | Summary aggregate financial information from the financial statements of these investments is as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Operating revenues | $643 | $634 | $611 | $643 | $634 | $611 | ||||||||||||||||||
Operating income | 330 | 334 | 326 | 330 | 334 | 325 | ||||||||||||||||||
Net income | 240 | 248 | 234 | 240 | 250 | 239 | ||||||||||||||||||
As of December 31: | ||||||||||||||||||||||||
Current assets | 72 | 86 | 70 | 84 | ||||||||||||||||||||
Non-current assets | 3,773 | 3,553 | 3,747 | 3,527 | ||||||||||||||||||||
Current liabilities | 315 | 383 | 315 | 383 | ||||||||||||||||||||
Non-current liabilities | 1,871 | 1,682 | 1,870 | 1,681 | ||||||||||||||||||||
Cash Surrender Value of Life Insurance Policies | At December 31, the cash surrender value of these investments was as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cash surrender value | $47.00 | $46.50 | $18.10 | $17.30 | $11.40 | $12.30 | ||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Investment [Line Items] | ||||||||||||||||||||||||
Cash Surrender Value of Life Insurance Policies | At December 31, the cash surrender value of these investments was as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cash surrender value | $47.00 | $46.50 | $18.10 | $17.30 | $11.40 | $12.30 | ||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Investment [Line Items] | ||||||||||||||||||||||||
Unconsolidated Equity Investments | Alliant Energy’s and WPL’s unconsolidated investments accounted for under the equity method of accounting are as follows (in millions): | |||||||||||||||||||||||
Ownership | Carrying Value at | |||||||||||||||||||||||
Interest at | December 31, | Equity (Income) / Loss | ||||||||||||||||||||||
December 31, 2014 | 2014 | 2013 | 2014 | 2013 | 2012 | |||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||
ATC (a) | 16% | $286.50 | $272.10 | ($41.9 | ) | ($42.7 | ) | ($41.3 | ) | |||||||||||||||
Wisconsin River Power Company | 50% | 7.8 | 7 | (0.9 | ) | (1.0 | ) | (0.8 | ) | |||||||||||||||
Other | Various | 2.3 | 2.3 | 2.4 | — | 0.8 | ||||||||||||||||||
$296.60 | $281.40 | ($40.4 | ) | ($43.7 | ) | ($41.3 | ) | |||||||||||||||||
WPL | ||||||||||||||||||||||||
ATC (a) | 16% | $286.50 | $272.10 | ($41.9 | ) | ($42.7 | ) | ($41.3 | ) | |||||||||||||||
Wisconsin River Power Company | 50% | 7.8 | 7 | (0.9 | ) | (1.0 | ) | (0.8 | ) | |||||||||||||||
$294.30 | $279.10 | ($42.8 | ) | ($43.7 | ) | ($42.1 | ) | |||||||||||||||||
(a) | Alliant Energy and WPL have the ability to exercise significant influence over ATC’s financial and operating policies through their participation on ATC’s Board of Directors. Refer to Note 18 for information regarding related party transactions with ATC. | |||||||||||||||||||||||
Summary Financial Information | Summary aggregate financial information from the financial statements of these investments is as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Operating revenues | $643 | $634 | $611 | $643 | $634 | $611 | ||||||||||||||||||
Operating income | 330 | 334 | 326 | 330 | 334 | 325 | ||||||||||||||||||
Net income | 240 | 248 | 234 | 240 | 250 | 239 | ||||||||||||||||||
As of December 31: | ||||||||||||||||||||||||
Current assets | 72 | 86 | 70 | 84 | ||||||||||||||||||||
Non-current assets | 3,773 | 3,553 | 3,747 | 3,527 | ||||||||||||||||||||
Current liabilities | 315 | 383 | 315 | 383 | ||||||||||||||||||||
Non-current liabilities | 1,871 | 1,682 | 1,870 | 1,681 | ||||||||||||||||||||
Cash Surrender Value of Life Insurance Policies | At December 31, the cash surrender value of these investments was as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Cash surrender value | $47.00 | $46.50 | $18.10 | $17.30 | $11.40 | $12.30 |
Common_Equity_Tables
Common Equity (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Schedule of Common Equity [Line Items] | ||||||||||||||||||||||||||||||||||||
Common Stock Activity | A summary of Alliant Energy’s common stock activity was as follows: | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares outstanding, January 1 | 110,943,669 | 110,987,400 | 111,018,821 | |||||||||||||||||||||||||||||||||
Equity-based compensation plans (Note 12(b)) | 35,547 | (23,374 | ) | 20,195 | ||||||||||||||||||||||||||||||||
Other | (43,536 | ) | (20,357 | ) | (51,616 | ) | ||||||||||||||||||||||||||||||
Shares outstanding, December 31 | 110,935,680 | 110,943,669 | 110,987,400 | |||||||||||||||||||||||||||||||||
Schedule of Restricted Net Assets of Subsidiaries | As of December 31, the amount of net assets of IPL and WPL that were not available to be transferred to their parent company, Alliant Energy, in the form of loans, advances or cash dividends without the consent of IPL’s and WPL’s regulatory authorities was as follows (in billions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
IPL | $1.30 | $1.20 | ||||||||||||||||||||||||||||||||||
WPL | 1.6 | 1.5 | ||||||||||||||||||||||||||||||||||
Capital Transactions with Subsidiaries | IPL, WPL and Resources paid common stock dividends and repayments of capital to their parent company, Alliant Energy, as follows (in millions): | |||||||||||||||||||||||||||||||||||
IPL | WPL | Resources | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Common stock dividends | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $— | $— | $— | |||||||||||||||||||||||||||
Repayments of capital | — | — | — | — | — | — | 50 | 95 | — | |||||||||||||||||||||||||||
Total distributions from common equity | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $50.00 | $95.00 | $— | |||||||||||||||||||||||||||
Schedule of Capital Contributions | IPL, WPL and Corporate Services received capital contributions from their parent company, Alliant Energy, as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL | $90.00 | $120.00 | $110.00 | |||||||||||||||||||||||||||||||||
WPL | — | — | 90 | |||||||||||||||||||||||||||||||||
Corporate Services | — | — | 30 | |||||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Schedule of Common Equity [Line Items] | ||||||||||||||||||||||||||||||||||||
Schedule of Restricted Net Assets of Subsidiaries | As of December 31, the amount of net assets of IPL and WPL that were not available to be transferred to their parent company, Alliant Energy, in the form of loans, advances or cash dividends without the consent of IPL’s and WPL’s regulatory authorities was as follows (in billions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
IPL | $1.30 | $1.20 | ||||||||||||||||||||||||||||||||||
WPL | 1.6 | 1.5 | ||||||||||||||||||||||||||||||||||
Capital Transactions with Subsidiaries | IPL, WPL and Resources paid common stock dividends and repayments of capital to their parent company, Alliant Energy, as follows (in millions): | |||||||||||||||||||||||||||||||||||
IPL | WPL | Resources | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Common stock dividends | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $— | $— | $— | |||||||||||||||||||||||||||
Repayments of capital | — | — | — | — | — | — | 50 | 95 | — | |||||||||||||||||||||||||||
Total distributions from common equity | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $50.00 | $95.00 | $— | |||||||||||||||||||||||||||
Schedule of Capital Contributions | IPL, WPL and Corporate Services received capital contributions from their parent company, Alliant Energy, as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL | $90.00 | $120.00 | $110.00 | |||||||||||||||||||||||||||||||||
WPL | — | — | 90 | |||||||||||||||||||||||||||||||||
Corporate Services | — | — | 30 | |||||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Schedule of Common Equity [Line Items] | ||||||||||||||||||||||||||||||||||||
Schedule of Restricted Net Assets of Subsidiaries | As of December 31, the amount of net assets of IPL and WPL that were not available to be transferred to their parent company, Alliant Energy, in the form of loans, advances or cash dividends without the consent of IPL’s and WPL’s regulatory authorities was as follows (in billions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
IPL | $1.30 | $1.20 | ||||||||||||||||||||||||||||||||||
WPL | 1.6 | 1.5 | ||||||||||||||||||||||||||||||||||
Capital Transactions with Subsidiaries | IPL, WPL and Resources paid common stock dividends and repayments of capital to their parent company, Alliant Energy, as follows (in millions): | |||||||||||||||||||||||||||||||||||
IPL | WPL | Resources | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Common stock dividends | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $— | $— | $— | |||||||||||||||||||||||||||
Repayments of capital | — | — | — | — | — | — | 50 | 95 | — | |||||||||||||||||||||||||||
Total distributions from common equity | $140.00 | $128.10 | $122.90 | $118.70 | $116.30 | $112.00 | $50.00 | $95.00 | $— | |||||||||||||||||||||||||||
Schedule of Capital Contributions | IPL, WPL and Corporate Services received capital contributions from their parent company, Alliant Energy, as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
IPL | $90.00 | $120.00 | $110.00 | |||||||||||||||||||||||||||||||||
WPL | — | — | 90 | |||||||||||||||||||||||||||||||||
Corporate Services | — | — | 30 | |||||||||||||||||||||||||||||||||
Redeemable_Preferred_Stock_Tab
Redeemable Preferred Stock (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Class of Stock [Line Items] | |||||||||||||||
Schedule of Carrying Value Of Cumulative Preferred Stock | Information related to the carrying value of IPL’s cumulative preferred stock at December 31 was as follows: | ||||||||||||||
Liquidation Preference/Stated Value | Shares Authorized | Shares Outstanding | Series | 2014 | 2013 | ||||||||||
(in millions) | |||||||||||||||
$25 | 16,000,000 | 8,000,000 | 5.10% | $200.00 | $200.00 | ||||||||||
IPL [Member] | |||||||||||||||
Class of Stock [Line Items] | |||||||||||||||
Schedule of Carrying Value Of Cumulative Preferred Stock | Information related to the carrying value of IPL’s cumulative preferred stock at December 31 was as follows: | ||||||||||||||
Liquidation Preference/Stated Value | Shares Authorized | Shares Outstanding | Series | 2014 | 2013 | ||||||||||
(in millions) | |||||||||||||||
$25 | 16,000,000 | 8,000,000 | 5.10% | $200.00 | $200.00 | ||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Debt Disclosure [Line Items] | ||||||||||||||||||||||||
Other Short-Term Borrowings | Information regarding commercial paper classified as short-term debt and back-stopped by the credit facilities was as follows (dollars in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
31-Dec | ||||||||||||||||||||||||
Commercial paper: | ||||||||||||||||||||||||
Amount outstanding | $141.30 | $279.40 | $— | $— | $— | $183.70 | ||||||||||||||||||
Weighted average interest rates | 0.40% | 0.20% | N/A | N/A | N/A | 0.10% | ||||||||||||||||||
Weighted average remaining maturity | 4 days | 4 days | N/A | N/A | N/A | 6 days | ||||||||||||||||||
Available credit facility capacity | $858.70 | $720.60 | $300.00 | $300.00 | $400.00 | $216.30 | ||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
For the year ended | ||||||||||||||||||||||||
Maximum amount outstanding | $353.80 | $293.90 | $38.00 | $26.30 | $204.70 | $190.00 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Average amount outstanding | $255.90 | $210.50 | $0.20 | $1.30 | $122.90 | $123.50 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Weighted average interest rates | 0.20% | 0.20% | 0.20% | 0.40% | 0.10% | 0.20% | ||||||||||||||||||
Schedule of Debt-To-Capital Ratios | The required debt-to-capital ratios compared to the actual debt-to-capital ratios at December 31, 2014 were as follows: | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
Requirement, not to exceed | 65% | 58% | 58% | |||||||||||||||||||||
Actual | 52% | 47% | 49% | |||||||||||||||||||||
Schedule of Long-term Debt | Long-term debt, net as of December 31 was as follows (dollars in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||
Senior Debentures: | ||||||||||||||||||||||||
3.3%, due 2015 | $150.00 | $150.00 | $— | $150.00 | $150.00 | $— | ||||||||||||||||||
5.875%, due 2018 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
7.25%, due 2018 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
3.65%, due 2020 | 200 | 200 | — | 200 | 200 | — | ||||||||||||||||||
3.25%, due 2024 (a) | 250 | 250 | — | — | — | — | ||||||||||||||||||
5.5%, due 2025 | 50 | 50 | — | 50 | 50 | — | ||||||||||||||||||
6.45%, due 2033 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
6.3%, due 2034 | 125 | 125 | — | 125 | 125 | — | ||||||||||||||||||
6.25%, due 2039 | 300 | 300 | — | 300 | 300 | — | ||||||||||||||||||
4.7%, due 2043 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
1,775.00 | 1,775.00 | — | 1,525.00 | 1,525.00 | — | |||||||||||||||||||
Debentures: | ||||||||||||||||||||||||
5%, due 2019 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.6%, due 2020 | 150 | — | 150 | 150 | — | 150 | ||||||||||||||||||
2.25%, due 2022 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
6.25%, due 2034 | 100 | — | 100 | 100 | — | 100 | ||||||||||||||||||
6.375%, due 2037 | 300 | — | 300 | 300 | — | 300 | ||||||||||||||||||
7.6%, due 2038 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.1%, due 2044 (b) | 250 | — | 250 | — | — | — | ||||||||||||||||||
1,550.00 | — | 1,550.00 | 1,300.00 | — | 1,300.00 | |||||||||||||||||||
Pollution Control Revenue Bonds: | ||||||||||||||||||||||||
5%, due 2015 (c) | 16 | — | 16 | 24.5 | — | 24.5 | ||||||||||||||||||
5.375%, due 2015 | 14.6 | — | 14.6 | 14.6 | — | 14.6 | ||||||||||||||||||
5% (d) | — | — | — | 38.4 | 38.4 | — | ||||||||||||||||||
30.6 | — | 30.6 | 77.5 | 38.4 | 39.1 | |||||||||||||||||||
Other: | ||||||||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (e) | 250 | — | — | — | — | — | ||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (f) | 60 | — | — | — | — | — | ||||||||||||||||||
3.45% senior notes, due 2022 | 75 | — | — | 75 | — | — | ||||||||||||||||||
5.06% senior secured notes, due 2015 to 2024 | 58.9 | — | — | 60.5 | — | — | ||||||||||||||||||
4% senior notes (e) | — | — | — | 250 | — | — | ||||||||||||||||||
Term loan credit agreement, 1% at December 31, 2013 (f) | — | — | — | 60 | — | — | ||||||||||||||||||
Other, 1% at December 31, 2014, due 2015 to 2025 | 3.3 | — | — | 0.4 | — | — | ||||||||||||||||||
447.2 | — | — | 445.9 | — | — | |||||||||||||||||||
Subtotal | 3,802.80 | 1,775.00 | 1,580.60 | 3,348.40 | 1,563.40 | 1,339.10 | ||||||||||||||||||
Current maturities | (183.0 | ) | (150.0 | ) | (30.6 | ) | (358.5 | ) | (38.4 | ) | (8.5 | ) | ||||||||||||
Unamortized debt (discount) and premium, net | (13.1 | ) | (6.3 | ) | (6.7 | ) | (12.1 | ) | (5.0 | ) | (7.0 | ) | ||||||||||||
Long-term debt, net | $3,606.70 | $1,618.70 | $1,543.30 | $2,977.80 | $1,520.00 | $1,323.60 | ||||||||||||||||||
(a) | In 2014, IPL issued $250.0 million of 3.25% senior debentures due 2024. The proceeds from the issuance were used by IPL to reduce cash proceeds received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt by $60 million and for general corporate purposes. | |||||||||||||||||||||||
(b) | In 2014, WPL issued $250.0 million of 4.1% debentures due 2044. The proceeds from the issuance were used by WPL to reduce commercial paper and for general corporate purposes. | |||||||||||||||||||||||
(c) | In 2014, WPL retired $8.5 million of its 5% pollution control revenue bonds. | |||||||||||||||||||||||
(d) | In 2014, IPL retired its $38.4 million, 5% pollution control revenue bonds. | |||||||||||||||||||||||
(e) | In 2014, Alliant Energy entered into a $250.0 million variable-rate term loan credit agreement and used the proceeds from borrowings under this agreement to retire its $250.0 million, 4% senior notes due 2014. | |||||||||||||||||||||||
(f) | In 2014, Franklin County Holdings LLC, Resources’ wholly-owned subsidiary, entered into a $60.0 million variable-rate term loan credit agreement and used the proceeds to retire its borrowings under a term loan credit agreement that matured in December 2014. | |||||||||||||||||||||||
Schedule of Debt Maturities | At December 31, 2014, debt maturities for 2015 through 2019 were as follows (in millions): | |||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
IPL | $150 | $— | $— | $350 | $— | |||||||||||||||||||
WPL | 31 | — | — | — | 250 | |||||||||||||||||||
Resources | 2 | 63 | 5 | 6 | 6 | |||||||||||||||||||
Alliant Energy parent company | — | 250 | — | — | — | |||||||||||||||||||
Alliant Energy | $183 | $313 | $5 | $356 | $256 | |||||||||||||||||||
Unamortized Debt Issuance Costs | Unamortized debt issuance costs recorded in “Deferred charges and other” on the balance sheets at December 31 were as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Unamortized debt issuance costs | $22.40 | $19.90 | $10.70 | $9.70 | $10.80 | $9.00 | ||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Debt Disclosure [Line Items] | ||||||||||||||||||||||||
Other Short-Term Borrowings | Information regarding commercial paper classified as short-term debt and back-stopped by the credit facilities was as follows (dollars in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
31-Dec | ||||||||||||||||||||||||
Commercial paper: | ||||||||||||||||||||||||
Amount outstanding | $141.30 | $279.40 | $— | $— | $— | $183.70 | ||||||||||||||||||
Weighted average interest rates | 0.40% | 0.20% | N/A | N/A | N/A | 0.10% | ||||||||||||||||||
Weighted average remaining maturity | 4 days | 4 days | N/A | N/A | N/A | 6 days | ||||||||||||||||||
Available credit facility capacity | $858.70 | $720.60 | $300.00 | $300.00 | $400.00 | $216.30 | ||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
For the year ended | ||||||||||||||||||||||||
Maximum amount outstanding | $353.80 | $293.90 | $38.00 | $26.30 | $204.70 | $190.00 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Average amount outstanding | $255.90 | $210.50 | $0.20 | $1.30 | $122.90 | $123.50 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Weighted average interest rates | 0.20% | 0.20% | 0.20% | 0.40% | 0.10% | 0.20% | ||||||||||||||||||
Schedule of Debt-To-Capital Ratios | The required debt-to-capital ratios compared to the actual debt-to-capital ratios at December 31, 2014 were as follows: | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
Requirement, not to exceed | 65% | 58% | 58% | |||||||||||||||||||||
Actual | 52% | 47% | 49% | |||||||||||||||||||||
Schedule of Long-term Debt | Long-term debt, net as of December 31 was as follows (dollars in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||
Senior Debentures: | ||||||||||||||||||||||||
3.3%, due 2015 | $150.00 | $150.00 | $— | $150.00 | $150.00 | $— | ||||||||||||||||||
5.875%, due 2018 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
7.25%, due 2018 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
3.65%, due 2020 | 200 | 200 | — | 200 | 200 | — | ||||||||||||||||||
3.25%, due 2024 (a) | 250 | 250 | — | — | — | — | ||||||||||||||||||
5.5%, due 2025 | 50 | 50 | — | 50 | 50 | — | ||||||||||||||||||
6.45%, due 2033 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
6.3%, due 2034 | 125 | 125 | — | 125 | 125 | — | ||||||||||||||||||
6.25%, due 2039 | 300 | 300 | — | 300 | 300 | — | ||||||||||||||||||
4.7%, due 2043 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
1,775.00 | 1,775.00 | — | 1,525.00 | 1,525.00 | — | |||||||||||||||||||
Debentures: | ||||||||||||||||||||||||
5%, due 2019 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.6%, due 2020 | 150 | — | 150 | 150 | — | 150 | ||||||||||||||||||
2.25%, due 2022 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
6.25%, due 2034 | 100 | — | 100 | 100 | — | 100 | ||||||||||||||||||
6.375%, due 2037 | 300 | — | 300 | 300 | — | 300 | ||||||||||||||||||
7.6%, due 2038 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.1%, due 2044 (b) | 250 | — | 250 | — | — | — | ||||||||||||||||||
1,550.00 | — | 1,550.00 | 1,300.00 | — | 1,300.00 | |||||||||||||||||||
Pollution Control Revenue Bonds: | ||||||||||||||||||||||||
5%, due 2015 (c) | 16 | — | 16 | 24.5 | — | 24.5 | ||||||||||||||||||
5.375%, due 2015 | 14.6 | — | 14.6 | 14.6 | — | 14.6 | ||||||||||||||||||
5% (d) | — | — | — | 38.4 | 38.4 | — | ||||||||||||||||||
30.6 | — | 30.6 | 77.5 | 38.4 | 39.1 | |||||||||||||||||||
Other: | ||||||||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (e) | 250 | — | — | — | — | — | ||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (f) | 60 | — | — | — | — | — | ||||||||||||||||||
3.45% senior notes, due 2022 | 75 | — | — | 75 | — | — | ||||||||||||||||||
5.06% senior secured notes, due 2015 to 2024 | 58.9 | — | — | 60.5 | — | — | ||||||||||||||||||
4% senior notes (e) | — | — | — | 250 | — | — | ||||||||||||||||||
Term loan credit agreement, 1% at December 31, 2013 (f) | — | — | — | 60 | — | — | ||||||||||||||||||
Other, 1% at December 31, 2014, due 2015 to 2025 | 3.3 | — | — | 0.4 | — | — | ||||||||||||||||||
447.2 | — | — | 445.9 | — | — | |||||||||||||||||||
Subtotal | 3,802.80 | 1,775.00 | 1,580.60 | 3,348.40 | 1,563.40 | 1,339.10 | ||||||||||||||||||
Current maturities | (183.0 | ) | (150.0 | ) | (30.6 | ) | (358.5 | ) | (38.4 | ) | (8.5 | ) | ||||||||||||
Unamortized debt (discount) and premium, net | (13.1 | ) | (6.3 | ) | (6.7 | ) | (12.1 | ) | (5.0 | ) | (7.0 | ) | ||||||||||||
Long-term debt, net | $3,606.70 | $1,618.70 | $1,543.30 | $2,977.80 | $1,520.00 | $1,323.60 | ||||||||||||||||||
(a) | In 2014, IPL issued $250.0 million of 3.25% senior debentures due 2024. The proceeds from the issuance were used by IPL to reduce cash proceeds received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt by $60 million and for general corporate purposes. | |||||||||||||||||||||||
(b) | In 2014, WPL issued $250.0 million of 4.1% debentures due 2044. The proceeds from the issuance were used by WPL to reduce commercial paper and for general corporate purposes. | |||||||||||||||||||||||
(c) | In 2014, WPL retired $8.5 million of its 5% pollution control revenue bonds. | |||||||||||||||||||||||
(d) | In 2014, IPL retired its $38.4 million, 5% pollution control revenue bonds. | |||||||||||||||||||||||
(e) | In 2014, Alliant Energy entered into a $250.0 million variable-rate term loan credit agreement and used the proceeds from borrowings under this agreement to retire its $250.0 million, 4% senior notes due 2014. | |||||||||||||||||||||||
(f) | In 2014, Franklin County Holdings LLC, Resources’ wholly-owned subsidiary, entered into a $60.0 million variable-rate term loan credit agreement and used the proceeds to retire its borrowings under a term loan credit agreement that matured in December 2014. | |||||||||||||||||||||||
Schedule of Debt Maturities | At December 31, 2014, debt maturities for 2015 through 2019 were as follows (in millions): | |||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
IPL | $150 | $— | $— | $350 | $— | |||||||||||||||||||
WPL | 31 | — | — | — | 250 | |||||||||||||||||||
Resources | 2 | 63 | 5 | 6 | 6 | |||||||||||||||||||
Alliant Energy parent company | — | 250 | — | — | — | |||||||||||||||||||
Alliant Energy | $183 | $313 | $5 | $356 | $256 | |||||||||||||||||||
Unamortized Debt Issuance Costs | Unamortized debt issuance costs recorded in “Deferred charges and other” on the balance sheets at December 31 were as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Unamortized debt issuance costs | $22.40 | $19.90 | $10.70 | $9.70 | $10.80 | $9.00 | ||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Debt Disclosure [Line Items] | ||||||||||||||||||||||||
Other Short-Term Borrowings | Information regarding commercial paper classified as short-term debt and back-stopped by the credit facilities was as follows (dollars in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
31-Dec | ||||||||||||||||||||||||
Commercial paper: | ||||||||||||||||||||||||
Amount outstanding | $141.30 | $279.40 | $— | $— | $— | $183.70 | ||||||||||||||||||
Weighted average interest rates | 0.40% | 0.20% | N/A | N/A | N/A | 0.10% | ||||||||||||||||||
Weighted average remaining maturity | 4 days | 4 days | N/A | N/A | N/A | 6 days | ||||||||||||||||||
Available credit facility capacity | $858.70 | $720.60 | $300.00 | $300.00 | $400.00 | $216.30 | ||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
For the year ended | ||||||||||||||||||||||||
Maximum amount outstanding | $353.80 | $293.90 | $38.00 | $26.30 | $204.70 | $190.00 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Average amount outstanding | $255.90 | $210.50 | $0.20 | $1.30 | $122.90 | $123.50 | ||||||||||||||||||
(based on daily outstanding balances) | ||||||||||||||||||||||||
Weighted average interest rates | 0.20% | 0.20% | 0.20% | 0.40% | 0.10% | 0.20% | ||||||||||||||||||
Schedule of Debt-To-Capital Ratios | The required debt-to-capital ratios compared to the actual debt-to-capital ratios at December 31, 2014 were as follows: | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
Requirement, not to exceed | 65% | 58% | 58% | |||||||||||||||||||||
Actual | 52% | 47% | 49% | |||||||||||||||||||||
Schedule of Long-term Debt | Long-term debt, net as of December 31 was as follows (dollars in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||
Senior Debentures: | ||||||||||||||||||||||||
3.3%, due 2015 | $150.00 | $150.00 | $— | $150.00 | $150.00 | $— | ||||||||||||||||||
5.875%, due 2018 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
7.25%, due 2018 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
3.65%, due 2020 | 200 | 200 | — | 200 | 200 | — | ||||||||||||||||||
3.25%, due 2024 (a) | 250 | 250 | — | — | — | — | ||||||||||||||||||
5.5%, due 2025 | 50 | 50 | — | 50 | 50 | — | ||||||||||||||||||
6.45%, due 2033 | 100 | 100 | — | 100 | 100 | — | ||||||||||||||||||
6.3%, due 2034 | 125 | 125 | — | 125 | 125 | — | ||||||||||||||||||
6.25%, due 2039 | 300 | 300 | — | 300 | 300 | — | ||||||||||||||||||
4.7%, due 2043 | 250 | 250 | — | 250 | 250 | — | ||||||||||||||||||
1,775.00 | 1,775.00 | — | 1,525.00 | 1,525.00 | — | |||||||||||||||||||
Debentures: | ||||||||||||||||||||||||
5%, due 2019 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.6%, due 2020 | 150 | — | 150 | 150 | — | 150 | ||||||||||||||||||
2.25%, due 2022 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
6.25%, due 2034 | 100 | — | 100 | 100 | — | 100 | ||||||||||||||||||
6.375%, due 2037 | 300 | — | 300 | 300 | — | 300 | ||||||||||||||||||
7.6%, due 2038 | 250 | — | 250 | 250 | — | 250 | ||||||||||||||||||
4.1%, due 2044 (b) | 250 | — | 250 | — | — | — | ||||||||||||||||||
1,550.00 | — | 1,550.00 | 1,300.00 | — | 1,300.00 | |||||||||||||||||||
Pollution Control Revenue Bonds: | ||||||||||||||||||||||||
5%, due 2015 (c) | 16 | — | 16 | 24.5 | — | 24.5 | ||||||||||||||||||
5.375%, due 2015 | 14.6 | — | 14.6 | 14.6 | — | 14.6 | ||||||||||||||||||
5% (d) | — | — | — | 38.4 | 38.4 | — | ||||||||||||||||||
30.6 | — | 30.6 | 77.5 | 38.4 | 39.1 | |||||||||||||||||||
Other: | ||||||||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (e) | 250 | — | — | — | — | — | ||||||||||||||||||
Term loan credit agreement through 2016, 1% at December 31, 2014 (f) | 60 | — | — | — | — | — | ||||||||||||||||||
3.45% senior notes, due 2022 | 75 | — | — | 75 | — | — | ||||||||||||||||||
5.06% senior secured notes, due 2015 to 2024 | 58.9 | — | — | 60.5 | — | — | ||||||||||||||||||
4% senior notes (e) | — | — | — | 250 | — | — | ||||||||||||||||||
Term loan credit agreement, 1% at December 31, 2013 (f) | — | — | — | 60 | — | — | ||||||||||||||||||
Other, 1% at December 31, 2014, due 2015 to 2025 | 3.3 | — | — | 0.4 | — | — | ||||||||||||||||||
447.2 | — | — | 445.9 | — | — | |||||||||||||||||||
Subtotal | 3,802.80 | 1,775.00 | 1,580.60 | 3,348.40 | 1,563.40 | 1,339.10 | ||||||||||||||||||
Current maturities | (183.0 | ) | (150.0 | ) | (30.6 | ) | (358.5 | ) | (38.4 | ) | (8.5 | ) | ||||||||||||
Unamortized debt (discount) and premium, net | (13.1 | ) | (6.3 | ) | (6.7 | ) | (12.1 | ) | (5.0 | ) | (7.0 | ) | ||||||||||||
Long-term debt, net | $3,606.70 | $1,618.70 | $1,543.30 | $2,977.80 | $1,520.00 | $1,323.60 | ||||||||||||||||||
(a) | In 2014, IPL issued $250.0 million of 3.25% senior debentures due 2024. The proceeds from the issuance were used by IPL to reduce cash proceeds received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt by $60 million and for general corporate purposes. | |||||||||||||||||||||||
(b) | In 2014, WPL issued $250.0 million of 4.1% debentures due 2044. The proceeds from the issuance were used by WPL to reduce commercial paper and for general corporate purposes. | |||||||||||||||||||||||
(c) | In 2014, WPL retired $8.5 million of its 5% pollution control revenue bonds. | |||||||||||||||||||||||
(d) | In 2014, IPL retired its $38.4 million, 5% pollution control revenue bonds. | |||||||||||||||||||||||
(e) | In 2014, Alliant Energy entered into a $250.0 million variable-rate term loan credit agreement and used the proceeds from borrowings under this agreement to retire its $250.0 million, 4% senior notes due 2014. | |||||||||||||||||||||||
(f) | In 2014, Franklin County Holdings LLC, Resources’ wholly-owned subsidiary, entered into a $60.0 million variable-rate term loan credit agreement and used the proceeds to retire its borrowings under a term loan credit agreement that matured in December 2014. | |||||||||||||||||||||||
Schedule of Debt Maturities | At December 31, 2014, debt maturities for 2015 through 2019 were as follows (in millions): | |||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
IPL | $150 | $— | $— | $350 | $— | |||||||||||||||||||
WPL | 31 | — | — | — | 250 | |||||||||||||||||||
Resources | 2 | 63 | 5 | 6 | 6 | |||||||||||||||||||
Alliant Energy parent company | — | 250 | — | — | — | |||||||||||||||||||
Alliant Energy | $183 | $313 | $5 | $356 | $256 | |||||||||||||||||||
Unamortized Debt Issuance Costs | Unamortized debt issuance costs recorded in “Deferred charges and other” on the balance sheets at December 31 were as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Unamortized debt issuance costs | $22.40 | $19.90 | $10.70 | $9.70 | $10.80 | $9.00 |
Leases_Tables
Leases (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Schedule of Operating Lease Rent Expense | Rental expenses associated with operating leases were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Operating lease rental expenses (excluding contingent rentals) | $12 | $9 | $69 | $4 | $4 | $4 | $7 | $5 | $64 | |||||||||||||||||||||||||||
Contingent rentals (primarily related to the Riverside PPA) | — | — | 6 | — | — | — | — | — | 5 | |||||||||||||||||||||||||||
$12 | $9 | $75 | $4 | $4 | $4 | $7 | $5 | $69 | ||||||||||||||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases | At December 31, 2014, future minimum operating lease payments, excluding contingent rentals, were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Alliant Energy | $8 | $7 | $3 | $2 | $1 | $21 | $42 | |||||||||||||||||||||||||||||
IPL | 3 | 2 | 2 | 1 | 1 | 15 | 24 | |||||||||||||||||||||||||||||
WPL | 4 | 5 | 1 | — | — | — | 10 | |||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Schedule of Operating Lease Rent Expense | Rental expenses associated with operating leases were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Operating lease rental expenses (excluding contingent rentals) | $12 | $9 | $69 | $4 | $4 | $4 | $7 | $5 | $64 | |||||||||||||||||||||||||||
Contingent rentals (primarily related to the Riverside PPA) | — | — | 6 | — | — | — | — | — | 5 | |||||||||||||||||||||||||||
$12 | $9 | $75 | $4 | $4 | $4 | $7 | $5 | $69 | ||||||||||||||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases | At December 31, 2014, future minimum operating lease payments, excluding contingent rentals, were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Alliant Energy | $8 | $7 | $3 | $2 | $1 | $21 | $42 | |||||||||||||||||||||||||||||
IPL | 3 | 2 | 2 | 1 | 1 | 15 | 24 | |||||||||||||||||||||||||||||
WPL | 4 | 5 | 1 | — | — | — | 10 | |||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Schedule of Operating Lease Rent Expense | Rental expenses associated with operating leases were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Operating lease rental expenses (excluding contingent rentals) | $12 | $9 | $69 | $4 | $4 | $4 | $7 | $5 | $64 | |||||||||||||||||||||||||||
Contingent rentals (primarily related to the Riverside PPA) | — | — | 6 | — | — | — | — | — | 5 | |||||||||||||||||||||||||||
$12 | $9 | $75 | $4 | $4 | $4 | $7 | $5 | $69 | ||||||||||||||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases | At December 31, 2014, future minimum operating lease payments, excluding contingent rentals, were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Alliant Energy | $8 | $7 | $3 | $2 | $1 | $21 | $42 | |||||||||||||||||||||||||||||
IPL | 3 | 2 | 2 | 1 | 1 | 15 | 24 | |||||||||||||||||||||||||||||
WPL | 4 | 5 | 1 | — | — | — | 10 | |||||||||||||||||||||||||||||
WPL [Member] | Sheboygan Falls Energy Facility [Member] | ||||||||||||||||||||||||||||||||||||
Schedule of Capital Lease Expense | Sheboygan Falls lease expenses were included in WPL’s income statements as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Interest expense | $10.40 | $10.90 | $11.30 | |||||||||||||||||||||||||||||||||
Depreciation and amortization | 6.2 | 6.2 | 6.2 | |||||||||||||||||||||||||||||||||
$16.60 | $17.10 | $17.50 | ||||||||||||||||||||||||||||||||||
Schedule of Future Minimum Lease Payments for Capital Leases | At December 31, 2014, WPL’s estimated future minimum capital lease payments for Sheboygan Falls were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | Less: amount representing interest | Present value of minimum capital lease payments | ||||||||||||||||||||||||||||
Sheboygan Falls | $15 | $15 | $15 | $15 | $15 | $83 | $158 | $63 | $95 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Income Tax [Line Items] | ||||||||||||||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) | The components of “Income tax expense (benefit)” in the income statements were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Current tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | $36.60 | $4.40 | ($29.3 | ) | $11.30 | $11.70 | ($7.7 | ) | $0.60 | ($5.7 | ) | $7.20 | ||||||||||||||||||||||||
State | 9.3 | (3.6 | ) | 11.6 | 3.4 | (0.1 | ) | 9.1 | 4.4 | 6 | (0.9 | ) | ||||||||||||||||||||||||
IPL’s tax benefit riders | (56.7 | ) | (52.9 | ) | (48.3 | ) | (56.7 | ) | (52.9 | ) | (48.3 | ) | — | — | — | |||||||||||||||||||||
Deferred tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | 83.5 | 123.9 | 157.8 | 11.1 | 20 | 37.4 | 88.9 | 92.7 | 81.1 | |||||||||||||||||||||||||||
State | 4.6 | 15.6 | 23.9 | (6.2 | ) | (0.8 | ) | 3.2 | 10.1 | 11.8 | 20.3 | |||||||||||||||||||||||||
Production tax credits | (31.3 | ) | (31.0 | ) | (24.8 | ) | (14.0 | ) | (14.4 | ) | (12.5 | ) | (17.3 | ) | (16.6 | ) | (12.3 | ) | ||||||||||||||||||
Investment tax credits | (1.6 | ) | (1.6 | ) | (1.7 | ) | (0.6 | ) | (0.6 | ) | (0.6 | ) | (1.0 | ) | (1.0 | ) | (1.1 | ) | ||||||||||||||||||
Provision recorded as a change in uncertain tax positions: | ||||||||||||||||||||||||||||||||||||
Current | — | — | 8 | — | — | 8.1 | — | — | (0.1 | ) | ||||||||||||||||||||||||||
Deferred | — | (0.4 | ) | (7.6 | ) | — | — | (8.2 | ) | — | (0.4 | ) | 0.6 | |||||||||||||||||||||||
Provision recorded as a change in accrued interest | (0.1 | ) | (0.5 | ) | (0.2 | ) | — | (0.8 | ) | (0.3 | ) | (0.1 | ) | 0.4 | (0.2 | ) | ||||||||||||||||||||
$44.30 | $53.90 | $89.40 | ($51.7 | ) | ($37.9 | ) | ($19.8 | ) | $85.60 | $87.20 | $94.60 | |||||||||||||||||||||||||
Schedule Of Effective Income Tax Rates | The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes. | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | ||||||||||||||||||
State income taxes, net of federal benefits | 5.4 | 5.7 | 5.7 | 5 | 5.4 | 5.8 | 5.5 | 6 | 5.5 | |||||||||||||||||||||||||||
IPL’s tax benefit riders | (12.9 | ) | (12.1 | ) | (11.2 | ) | (39.6 | ) | (34.8 | ) | (37.0 | ) | — | — | — | |||||||||||||||||||||
Effect of rate-making on property-related differences | (7.5 | ) | (6.0 | ) | (5.0 | ) | (21.9 | ) | (15.9 | ) | (14.2 | ) | (0.7 | ) | (0.8 | ) | (1.1 | ) | ||||||||||||||||||
Production tax credits | (7.1 | ) | (7.1 | ) | (5.8 | ) | (9.8 | ) | (9.5 | ) | (9.6 | ) | (6.5 | ) | (6.3 | ) | (4.7 | ) | ||||||||||||||||||
Adjustment of prior period taxes | (1.3 | ) | (1.3 | ) | — | (3.5 | ) | (3.6 | ) | 0.2 | (0.1 | ) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||
State apportionment change due to announced sale of RMT | — | — | 3.5 | — | — | 6.2 | — | — | 2.7 | |||||||||||||||||||||||||||
Other items, net | (1.5 | ) | (1.8 | ) | (1.4 | ) | (1.4 | ) | (1.5 | ) | (1.6 | ) | (1.1 | ) | (0.9 | ) | (0.8 | ) | ||||||||||||||||||
Overall income tax rate | 10.1 | % | 12.4 | % | 20.8 | % | (36.2 | %) | (24.9 | %) | (15.2 | %) | 32.1 | % | 32.9 | % | 36.3 | % | ||||||||||||||||||
Production Tax Credits (Net Of State Tax Impacts) | Details regarding production tax credits (net of state tax impacts) related to various wind projects are as follows (dollars in millions): | |||||||||||||||||||||||||||||||||||
End of Production | Nameplate | |||||||||||||||||||||||||||||||||||
Tax Credit Generation | Capacity in MW | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Cedar Ridge (WPL) | Dec-18 | 68 | $4.00 | $4.10 | $4.00 | |||||||||||||||||||||||||||||||
Bent Tree (WPL) | Feb-21 | 201 | 13.3 | 12.5 | 8.3 | |||||||||||||||||||||||||||||||
Subtotal (WPL) | 17.3 | 16.6 | 12.3 | |||||||||||||||||||||||||||||||||
Whispering Willow - East (IPL) | Dec-19 | 200 | 14 | 14.4 | 12.5 | |||||||||||||||||||||||||||||||
$31.30 | $31.00 | $24.80 | ||||||||||||||||||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities | The deferred income tax (assets) and liabilities included on Alliant Energy’s balance sheets at December 31 arise from the following temporary differences (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
Alliant Energy | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $2,627.80 | $2,627.80 | $— | $2,316.30 | $2,316.30 | ||||||||||||||||||||||||||||||
Investment in ATC | — | 131.6 | 131.6 | — | 120.7 | 120.7 | ||||||||||||||||||||||||||||||
Net operating losses carryforwards - state | (45.7 | ) | — | (45.7 | ) | (35.3 | ) | — | (35.3 | ) | ||||||||||||||||||||||||||
Regulatory liability - IPL’s tax benefit riders | (100.9 | ) | — | (100.9 | ) | (107.8 | ) | — | (107.8 | ) | ||||||||||||||||||||||||||
Federal credit carryforwards | (201.0 | ) | — | (201.0 | ) | (167.8 | ) | — | (167.8 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (332.8 | ) | — | (332.8 | ) | (251.9 | ) | — | (251.9 | ) | ||||||||||||||||||||||||||
Other | (88.1 | ) | 180.1 | 92 | (108.9 | ) | 210.7 | 101.8 | ||||||||||||||||||||||||||||
Subtotal | ($768.5 | ) | $2,939.50 | $2,171.00 | ($671.7 | ) | $2,647.70 | $1,976.00 | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($150.1 | ) | ($136.7 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 2,321.10 | 2,112.70 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $2,171.00 | $1,976.00 | ||||||||||||||||||||||||||||||||||
Summary Of Tax Credit Carryforwards | At December 31, 2014, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $970 | $333 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (a) | 881 | 46 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 204 | 201 | 2022 | |||||||||||||||||||||||||||||||||
$580 | ||||||||||||||||||||||||||||||||||||
IPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $468 | $161 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (b) | 291 | 16 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 69 | 68 | 2022 | |||||||||||||||||||||||||||||||||
$245 | ||||||||||||||||||||||||||||||||||||
WPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $376 | $129 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (c) | 171 | 9 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 77 | 75 | 2022 | |||||||||||||||||||||||||||||||||
$213 | ||||||||||||||||||||||||||||||||||||
(a) | At December 31, 2014, Alliant Energy’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(b) | At December 31, 2014, IPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(c) | At December 31, 2014, WPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024. | |||||||||||||||||||||||||||||||||||
Summary of Uncertain Tax Positions | A reconciliation of the beginning and ending amounts of uncertain tax positions, excluding interest, is as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Balance, January 1 | $— | $0.70 | $23.50 | $— | $— | $10.90 | $— | $0.70 | $12.60 | |||||||||||||||||||||||||||
Additions based on tax positions related to the current year | — | — | 0.7 | — | — | — | — | — | 0.7 | |||||||||||||||||||||||||||
Reductions for tax positions of prior years (a) | — | (0.7 | ) | (23.5 | ) | — | — | (10.9 | ) | — | (0.7 | ) | (12.6 | ) | ||||||||||||||||||||||
Balance, December 31 | $— | $— | $0.70 | $— | $— | $— | $— | $— | $0.70 | |||||||||||||||||||||||||||
(a) | In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energy’s federal income tax return audits for calendar years 2005 through 2009. | |||||||||||||||||||||||||||||||||||
Schedule Of Open Tax Years | Open tax years - Tax years that remain subject to the statute of limitations in the major jurisdictions are as follows: | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Consolidated federal income tax returns (a) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Consolidated Iowa income tax returns (b) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Wisconsin combined tax returns (c) | 2010 | - | 2013 | 2010 | - | 2013 | 2010 | - | 2013 | |||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Income Tax [Line Items] | ||||||||||||||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) | The components of “Income tax expense (benefit)” in the income statements were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Current tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | $36.60 | $4.40 | ($29.3 | ) | $11.30 | $11.70 | ($7.7 | ) | $0.60 | ($5.7 | ) | $7.20 | ||||||||||||||||||||||||
State | 9.3 | (3.6 | ) | 11.6 | 3.4 | (0.1 | ) | 9.1 | 4.4 | 6 | (0.9 | ) | ||||||||||||||||||||||||
IPL’s tax benefit riders | (56.7 | ) | (52.9 | ) | (48.3 | ) | (56.7 | ) | (52.9 | ) | (48.3 | ) | — | — | — | |||||||||||||||||||||
Deferred tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | 83.5 | 123.9 | 157.8 | 11.1 | 20 | 37.4 | 88.9 | 92.7 | 81.1 | |||||||||||||||||||||||||||
State | 4.6 | 15.6 | 23.9 | (6.2 | ) | (0.8 | ) | 3.2 | 10.1 | 11.8 | 20.3 | |||||||||||||||||||||||||
Production tax credits | (31.3 | ) | (31.0 | ) | (24.8 | ) | (14.0 | ) | (14.4 | ) | (12.5 | ) | (17.3 | ) | (16.6 | ) | (12.3 | ) | ||||||||||||||||||
Investment tax credits | (1.6 | ) | (1.6 | ) | (1.7 | ) | (0.6 | ) | (0.6 | ) | (0.6 | ) | (1.0 | ) | (1.0 | ) | (1.1 | ) | ||||||||||||||||||
Provision recorded as a change in uncertain tax positions: | ||||||||||||||||||||||||||||||||||||
Current | — | — | 8 | — | — | 8.1 | — | — | (0.1 | ) | ||||||||||||||||||||||||||
Deferred | — | (0.4 | ) | (7.6 | ) | — | — | (8.2 | ) | — | (0.4 | ) | 0.6 | |||||||||||||||||||||||
Provision recorded as a change in accrued interest | (0.1 | ) | (0.5 | ) | (0.2 | ) | — | (0.8 | ) | (0.3 | ) | (0.1 | ) | 0.4 | (0.2 | ) | ||||||||||||||||||||
$44.30 | $53.90 | $89.40 | ($51.7 | ) | ($37.9 | ) | ($19.8 | ) | $85.60 | $87.20 | $94.60 | |||||||||||||||||||||||||
Schedule Of Effective Income Tax Rates | The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes. | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | ||||||||||||||||||
State income taxes, net of federal benefits | 5.4 | 5.7 | 5.7 | 5 | 5.4 | 5.8 | 5.5 | 6 | 5.5 | |||||||||||||||||||||||||||
IPL’s tax benefit riders | (12.9 | ) | (12.1 | ) | (11.2 | ) | (39.6 | ) | (34.8 | ) | (37.0 | ) | — | — | — | |||||||||||||||||||||
Effect of rate-making on property-related differences | (7.5 | ) | (6.0 | ) | (5.0 | ) | (21.9 | ) | (15.9 | ) | (14.2 | ) | (0.7 | ) | (0.8 | ) | (1.1 | ) | ||||||||||||||||||
Production tax credits | (7.1 | ) | (7.1 | ) | (5.8 | ) | (9.8 | ) | (9.5 | ) | (9.6 | ) | (6.5 | ) | (6.3 | ) | (4.7 | ) | ||||||||||||||||||
Adjustment of prior period taxes | (1.3 | ) | (1.3 | ) | — | (3.5 | ) | (3.6 | ) | 0.2 | (0.1 | ) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||
State apportionment change due to announced sale of RMT | — | — | 3.5 | — | — | 6.2 | — | — | 2.7 | |||||||||||||||||||||||||||
Other items, net | (1.5 | ) | (1.8 | ) | (1.4 | ) | (1.4 | ) | (1.5 | ) | (1.6 | ) | (1.1 | ) | (0.9 | ) | (0.8 | ) | ||||||||||||||||||
Overall income tax rate | 10.1 | % | 12.4 | % | 20.8 | % | (36.2 | %) | (24.9 | %) | (15.2 | %) | 32.1 | % | 32.9 | % | 36.3 | % | ||||||||||||||||||
Production Tax Credits (Net Of State Tax Impacts) | Details regarding production tax credits (net of state tax impacts) related to various wind projects are as follows (dollars in millions): | |||||||||||||||||||||||||||||||||||
End of Production | Nameplate | |||||||||||||||||||||||||||||||||||
Tax Credit Generation | Capacity in MW | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Cedar Ridge (WPL) | Dec-18 | 68 | $4.00 | $4.10 | $4.00 | |||||||||||||||||||||||||||||||
Bent Tree (WPL) | Feb-21 | 201 | 13.3 | 12.5 | 8.3 | |||||||||||||||||||||||||||||||
Subtotal (WPL) | 17.3 | 16.6 | 12.3 | |||||||||||||||||||||||||||||||||
Whispering Willow - East (IPL) | Dec-19 | 200 | 14 | 14.4 | 12.5 | |||||||||||||||||||||||||||||||
$31.30 | $31.00 | $24.80 | ||||||||||||||||||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities | The deferred income tax (assets) and liabilities included on IPL’s balance sheets at December 31 arise from the following temporary differences (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
IPL | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $1,531.00 | $1,531.00 | $— | $1,338.10 | $1,338.10 | ||||||||||||||||||||||||||||||
Federal credit carryforwards | (67.7 | ) | — | (67.7 | ) | (52.9 | ) | — | (52.9 | ) | ||||||||||||||||||||||||||
Regulatory liability - tax benefit riders | (100.9 | ) | — | (100.9 | ) | (107.8 | ) | — | (107.8 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (160.6 | ) | — | (160.6 | ) | (111.3 | ) | — | (111.3 | ) | ||||||||||||||||||||||||||
Other | (47.2 | ) | 81.9 | 34.7 | (64.0 | ) | 103.2 | 39.2 | ||||||||||||||||||||||||||||
($376.4 | ) | $1,612.90 | $1,236.50 | ($336.0 | ) | $1,441.30 | $1,105.30 | |||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($104.9 | ) | ($87.7 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 1,341.40 | 1,193.00 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $1,236.50 | $1,105.30 | ||||||||||||||||||||||||||||||||||
Summary Of Tax Credit Carryforwards | At December 31, 2014, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $970 | $333 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (a) | 881 | 46 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 204 | 201 | 2022 | |||||||||||||||||||||||||||||||||
$580 | ||||||||||||||||||||||||||||||||||||
IPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $468 | $161 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (b) | 291 | 16 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 69 | 68 | 2022 | |||||||||||||||||||||||||||||||||
$245 | ||||||||||||||||||||||||||||||||||||
WPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $376 | $129 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (c) | 171 | 9 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 77 | 75 | 2022 | |||||||||||||||||||||||||||||||||
$213 | ||||||||||||||||||||||||||||||||||||
(a) | At December 31, 2014, Alliant Energy’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(b) | At December 31, 2014, IPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(c) | At December 31, 2014, WPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024. | |||||||||||||||||||||||||||||||||||
Summary of Uncertain Tax Positions | A reconciliation of the beginning and ending amounts of uncertain tax positions, excluding interest, is as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Balance, January 1 | $— | $0.70 | $23.50 | $— | $— | $10.90 | $— | $0.70 | $12.60 | |||||||||||||||||||||||||||
Additions based on tax positions related to the current year | — | — | 0.7 | — | — | — | — | — | 0.7 | |||||||||||||||||||||||||||
Reductions for tax positions of prior years (a) | — | (0.7 | ) | (23.5 | ) | — | — | (10.9 | ) | — | (0.7 | ) | (12.6 | ) | ||||||||||||||||||||||
Balance, December 31 | $— | $— | $0.70 | $— | $— | $— | $— | $— | $0.70 | |||||||||||||||||||||||||||
(a) | In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energy’s federal income tax return audits for calendar years 2005 through 2009. | |||||||||||||||||||||||||||||||||||
Schedule Of Open Tax Years | Open tax years - Tax years that remain subject to the statute of limitations in the major jurisdictions are as follows: | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Consolidated federal income tax returns (a) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Consolidated Iowa income tax returns (b) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Wisconsin combined tax returns (c) | 2010 | - | 2013 | 2010 | - | 2013 | 2010 | - | 2013 | |||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Income Tax [Line Items] | ||||||||||||||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) | The components of “Income tax expense (benefit)” in the income statements were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Current tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | $36.60 | $4.40 | ($29.3 | ) | $11.30 | $11.70 | ($7.7 | ) | $0.60 | ($5.7 | ) | $7.20 | ||||||||||||||||||||||||
State | 9.3 | (3.6 | ) | 11.6 | 3.4 | (0.1 | ) | 9.1 | 4.4 | 6 | (0.9 | ) | ||||||||||||||||||||||||
IPL’s tax benefit riders | (56.7 | ) | (52.9 | ) | (48.3 | ) | (56.7 | ) | (52.9 | ) | (48.3 | ) | — | — | — | |||||||||||||||||||||
Deferred tax expense (benefit): | ||||||||||||||||||||||||||||||||||||
Federal | 83.5 | 123.9 | 157.8 | 11.1 | 20 | 37.4 | 88.9 | 92.7 | 81.1 | |||||||||||||||||||||||||||
State | 4.6 | 15.6 | 23.9 | (6.2 | ) | (0.8 | ) | 3.2 | 10.1 | 11.8 | 20.3 | |||||||||||||||||||||||||
Production tax credits | (31.3 | ) | (31.0 | ) | (24.8 | ) | (14.0 | ) | (14.4 | ) | (12.5 | ) | (17.3 | ) | (16.6 | ) | (12.3 | ) | ||||||||||||||||||
Investment tax credits | (1.6 | ) | (1.6 | ) | (1.7 | ) | (0.6 | ) | (0.6 | ) | (0.6 | ) | (1.0 | ) | (1.0 | ) | (1.1 | ) | ||||||||||||||||||
Provision recorded as a change in uncertain tax positions: | ||||||||||||||||||||||||||||||||||||
Current | — | — | 8 | — | — | 8.1 | — | — | (0.1 | ) | ||||||||||||||||||||||||||
Deferred | — | (0.4 | ) | (7.6 | ) | — | — | (8.2 | ) | — | (0.4 | ) | 0.6 | |||||||||||||||||||||||
Provision recorded as a change in accrued interest | (0.1 | ) | (0.5 | ) | (0.2 | ) | — | (0.8 | ) | (0.3 | ) | (0.1 | ) | 0.4 | (0.2 | ) | ||||||||||||||||||||
$44.30 | $53.90 | $89.40 | ($51.7 | ) | ($37.9 | ) | ($19.8 | ) | $85.60 | $87.20 | $94.60 | |||||||||||||||||||||||||
Schedule Of Effective Income Tax Rates | The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes. | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | ||||||||||||||||||
State income taxes, net of federal benefits | 5.4 | 5.7 | 5.7 | 5 | 5.4 | 5.8 | 5.5 | 6 | 5.5 | |||||||||||||||||||||||||||
IPL’s tax benefit riders | (12.9 | ) | (12.1 | ) | (11.2 | ) | (39.6 | ) | (34.8 | ) | (37.0 | ) | — | — | — | |||||||||||||||||||||
Effect of rate-making on property-related differences | (7.5 | ) | (6.0 | ) | (5.0 | ) | (21.9 | ) | (15.9 | ) | (14.2 | ) | (0.7 | ) | (0.8 | ) | (1.1 | ) | ||||||||||||||||||
Production tax credits | (7.1 | ) | (7.1 | ) | (5.8 | ) | (9.8 | ) | (9.5 | ) | (9.6 | ) | (6.5 | ) | (6.3 | ) | (4.7 | ) | ||||||||||||||||||
Adjustment of prior period taxes | (1.3 | ) | (1.3 | ) | — | (3.5 | ) | (3.6 | ) | 0.2 | (0.1 | ) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||
State apportionment change due to announced sale of RMT | — | — | 3.5 | — | — | 6.2 | — | — | 2.7 | |||||||||||||||||||||||||||
Other items, net | (1.5 | ) | (1.8 | ) | (1.4 | ) | (1.4 | ) | (1.5 | ) | (1.6 | ) | (1.1 | ) | (0.9 | ) | (0.8 | ) | ||||||||||||||||||
Overall income tax rate | 10.1 | % | 12.4 | % | 20.8 | % | (36.2 | %) | (24.9 | %) | (15.2 | %) | 32.1 | % | 32.9 | % | 36.3 | % | ||||||||||||||||||
Production Tax Credits (Net Of State Tax Impacts) | Details regarding production tax credits (net of state tax impacts) related to various wind projects are as follows (dollars in millions): | |||||||||||||||||||||||||||||||||||
End of Production | Nameplate | |||||||||||||||||||||||||||||||||||
Tax Credit Generation | Capacity in MW | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Cedar Ridge (WPL) | Dec-18 | 68 | $4.00 | $4.10 | $4.00 | |||||||||||||||||||||||||||||||
Bent Tree (WPL) | Feb-21 | 201 | 13.3 | 12.5 | 8.3 | |||||||||||||||||||||||||||||||
Subtotal (WPL) | 17.3 | 16.6 | 12.3 | |||||||||||||||||||||||||||||||||
Whispering Willow - East (IPL) | Dec-19 | 200 | 14 | 14.4 | 12.5 | |||||||||||||||||||||||||||||||
$31.30 | $31.00 | $24.80 | ||||||||||||||||||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities | The deferred income tax (assets) and liabilities included on WPL’s balance sheets at December 31 arise from the following temporary differences (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred | Deferred Tax | Deferred | Deferred Tax | |||||||||||||||||||||||||||||||||
WPL | Tax Assets | Liabilities | Net | Tax Assets | Liabilities | Net | ||||||||||||||||||||||||||||||
Property | $— | $964.40 | $964.40 | $— | $859.10 | $859.10 | ||||||||||||||||||||||||||||||
Investment in ATC | — | 131.6 | 131.6 | — | 120.7 | 120.7 | ||||||||||||||||||||||||||||||
Federal credit carryforwards | (75.2 | ) | — | (75.2 | ) | (57.1 | ) | — | (57.1 | ) | ||||||||||||||||||||||||||
Net operating losses carryforwards - federal | (128.9 | ) | — | (128.9 | ) | (106.9 | ) | — | (106.9 | ) | ||||||||||||||||||||||||||
Other | (40.3 | ) | 80.9 | 40.6 | (37.6 | ) | 75.6 | 38 | ||||||||||||||||||||||||||||
($244.4 | ) | $1,176.90 | $932.50 | ($201.6 | ) | $1,055.40 | $853.80 | |||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Current deferred tax assets | ($37.5 | ) | ($43.3 | ) | ||||||||||||||||||||||||||||||||
Non-current deferred tax liabilities | 970 | 897.1 | ||||||||||||||||||||||||||||||||||
Total net deferred tax liabilities | $932.50 | $853.80 | ||||||||||||||||||||||||||||||||||
Summary Of Tax Credit Carryforwards | At December 31, 2014, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $970 | $333 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (a) | 881 | 46 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 204 | 201 | 2022 | |||||||||||||||||||||||||||||||||
$580 | ||||||||||||||||||||||||||||||||||||
IPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $468 | $161 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (b) | 291 | 16 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 69 | 68 | 2022 | |||||||||||||||||||||||||||||||||
$245 | ||||||||||||||||||||||||||||||||||||
WPL | Tax Carryforwards | Deferred | Earliest | |||||||||||||||||||||||||||||||||
Tax Assets | Expiration Date | |||||||||||||||||||||||||||||||||||
Federal net operating losses | $376 | $129 | 2029 | |||||||||||||||||||||||||||||||||
State net operating losses (c) | 171 | 9 | 2018 | |||||||||||||||||||||||||||||||||
Federal tax credits | 77 | 75 | 2022 | |||||||||||||||||||||||||||||||||
$213 | ||||||||||||||||||||||||||||||||||||
(a) | At December 31, 2014, Alliant Energy’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(b) | At December 31, 2014, IPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024. | |||||||||||||||||||||||||||||||||||
(c) | At December 31, 2014, WPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024. | |||||||||||||||||||||||||||||||||||
Summary of Uncertain Tax Positions | A reconciliation of the beginning and ending amounts of uncertain tax positions, excluding interest, is as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Balance, January 1 | $— | $0.70 | $23.50 | $— | $— | $10.90 | $— | $0.70 | $12.60 | |||||||||||||||||||||||||||
Additions based on tax positions related to the current year | — | — | 0.7 | — | — | — | — | — | 0.7 | |||||||||||||||||||||||||||
Reductions for tax positions of prior years (a) | — | (0.7 | ) | (23.5 | ) | — | — | (10.9 | ) | — | (0.7 | ) | (12.6 | ) | ||||||||||||||||||||||
Balance, December 31 | $— | $— | $0.70 | $— | $— | $— | $— | $— | $0.70 | |||||||||||||||||||||||||||
(a) | In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energy’s federal income tax return audits for calendar years 2005 through 2009. | |||||||||||||||||||||||||||||||||||
Schedule Of Open Tax Years | Open tax years - Tax years that remain subject to the statute of limitations in the major jurisdictions are as follows: | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Consolidated federal income tax returns (a) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Consolidated Iowa income tax returns (b) | 2011 | - | 2013 | 2011 | - | 2013 | 2011 | - | 2013 | |||||||||||||||||||||||||||
Wisconsin combined tax returns (c) | 2010 | - | 2013 | 2010 | - | 2013 | 2010 | - | 2013 | |||||||||||||||||||||||||||
(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. |
Benefit_Plans_Tables
Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Assumptions Used To Measure Benefit Plans | The assumptions for defined benefit pension and OPEB plans at the measurement date of December 31 were as follows: | |||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.18% | 4.97% | 4.11% | 3.97% | 4.59% | 3.82% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 4.97% | 4.11% | 4.86% | 4.59% | 3.82% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.40% | 7.40% | 7.50% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | N/A | 3.50% | 3.50% | |||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.94% | 4.55% | 3.76% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.55% | 3.76% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.60% | 7.50% | 7.40% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.96% | 4.56% | 3.81% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.56% | 3.81% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.30% | 7.20% | 7.00% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Defined Benefit Pension And Other Postretirement Benefits Plans | The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans are included in the tables below (in millions). In the “IPL” and “WPL” tables below, the defined benefit pension plans costs represent those respective costs for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In the “IPL” and “WPL” tables below, the OPEB plans costs (credits) represent costs (credits) for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. | |||||||||||||||||||||||||||||||||||
Alliant Energy | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $13.10 | $15.70 | $13.50 | $5.20 | $6.30 | $6.90 | ||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 51.6 | 9.5 | 8.5 | 10.2 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (74.9 | ) | (74.0 | ) | (68.8 | ) | (8.3 | ) | (8.1 | ) | (7.5 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.2 | 0.3 | (11.9 | ) | (11.9 | ) | (12.0 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 19.5 | 36.2 | 33.3 | 2.4 | 4.9 | 6.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 9 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
Settlement losses (e) | — | — | 5.4 | — | — | — | ||||||||||||||||||||||||||||||
$11.80 | $36.10 | $35.40 | ($3.1 | ) | ($0.3 | ) | $3.90 | |||||||||||||||||||||||||||||
IPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $7.20 | $8.60 | $7.50 | $2.40 | $2.90 | $3.00 | ||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 24.1 | 3.9 | 3.6 | 4.4 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (35.7 | ) | (35.2 | ) | (32.6 | ) | (5.8 | ) | (5.6 | ) | (5.1 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.1 | 0.2 | (6.3 | ) | (6.3 | ) | (6.3 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 8 | 15.2 | 14.1 | 1.1 | 2.7 | 3.5 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 2.6 | — | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $14.20 | $13.30 | ($4.7 | ) | ($2.7 | ) | ($0.5 | ) | ||||||||||||||||||||||||||||
WPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $4.90 | $5.90 | $5.20 | $2.00 | $2.50 | $2.70 | ||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 21.6 | 3.8 | 3.4 | 4.1 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (32.4 | ) | (31.9 | ) | (29.6 | ) | (1.3 | ) | (1.3 | ) | (1.3 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | 0.3 | 0.3 | 0.4 | (3.9 | ) | (3.9 | ) | (3.9 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 9.2 | 17.1 | 15.7 | 1.3 | 1.9 | 2.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 0.6 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $12.70 | $13.40 | $1.90 | $2.60 | $3.90 | |||||||||||||||||||||||||||||||
(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 Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits. | |||||||||||||||||||||||||||||||||||
(d) | In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement. | |||||||||||||||||||||||||||||||||||
(e) | Settlement losses related to payments made to retired executives of Alliant Energy. | |||||||||||||||||||||||||||||||||||
Schedule Of Qualified And Non-Qualified Pension And Other Postretirement Benefits Costs | The following table includes the allocated qualified and non-qualified pension and OPEB costs (credits) associated with Corporate Services employees providing services to IPL and WPL (in millions): | |||||||||||||||||||||||||||||||||||
Pension Benefits Costs (a) | OPEB Costs (Credits) | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
IPL | $1.40 | $4.80 | $4.90 | ($0.3 | ) | ($0.3 | ) | $0.10 | ||||||||||||||||||||||||||||
WPL | 1.1 | 3.6 | 3.6 | (0.2 | ) | (0.2 | ) | 0.1 | ||||||||||||||||||||||||||||
(a) | Refer to IPL’s and WPL’s “Net Periodic Benefit Costs (Credits)” tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013. | |||||||||||||||||||||||||||||||||||
Estimated Amortization From Regulatory Assets And Regulatory Liabilities On The Consolidated Balance Sheets And Accumulated Other Comprehensive Loss On Alliant Energy's Consolidated Balance Sheet Into Net Periodic Benefit Cost | The estimated amortization from “Regulatory assets” and “Regulatory liabilities” on the balance sheets and AOCL on Alliant Energy’s balance sheet into net periodic benefit cost in 2015 is as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined Benefit | Defined Benefit | Defined Benefit | ||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||
Actuarial loss | $35.40 | $4.90 | $15.30 | $2.30 | $16.80 | $2.30 | ||||||||||||||||||||||||||||||
Prior service cost (credit) | (0.3 | ) | (11.3 | ) | (0.1 | ) | (6.1 | ) | 0.2 | (3.5 | ) | |||||||||||||||||||||||||
$35.10 | ($6.4 | ) | $15.20 | ($3.8 | ) | $17.00 | ($1.2 | ) | ||||||||||||||||||||||||||||
Funded Status Of Benefit Plans | A reconciliation of the funded status of Alliant Energy’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on Alliant Energy’s balance sheets at December 31 was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $1,113.40 | $1,207.50 | $208.70 | $223.20 | ||||||||||||||||||||||||||||||||
Service cost | 13.1 | 15.7 | 5.2 | 6.3 | ||||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 9.5 | 8.5 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 2.8 | 2.6 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 9 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 195.8 | (94.1 | ) | 22.3 | (13.2 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (74.9 | ) | (73.7 | ) | (17.4 | ) | (18.7 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 1,301.50 | 1,113.40 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 1,022.90 | 965.6 | 124.9 | 123.1 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 66.4 | 128.5 | 5.6 | 14.4 | ||||||||||||||||||||||||||||||||
Employer contributions | 3.7 | 2.5 | 5.7 | 3.5 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 2.8 | 2.6 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (74.9 | ) | (73.7 | ) | (17.4 | ) | (18.7 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 1,018.10 | 1,022.90 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($283.4 | ) | ($90.5 | ) | ($109.5 | ) | ($83.8 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $6.10 | $14.50 | ||||||||||||||||||||||||||||||||
Other current liabilities | (2.5 | ) | (2.4 | ) | (5.6 | ) | (4.8 | ) | ||||||||||||||||||||||||||||
Pension and other benefit obligations | (280.9 | ) | (88.1 | ) | (110.0 | ) | (93.5 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($283.4 | ) | ($90.5 | ) | ($109.5 | ) | ($83.8 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $533.40 | $348.60 | $60.70 | $38.10 | ||||||||||||||||||||||||||||||||
Prior service credit | (7.4 | ) | (7.4 | ) | (16.7 | ) | (28.6 | ) | ||||||||||||||||||||||||||||
$526.00 | $341.20 | $44.00 | $9.50 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 and Alliant Energy’s common equity statements for amounts recognized in “Regulatory assets” and “AOCL,” respectively, on Alliant Energy’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $5.1 million, respectively, of regulatory liabilities were recognized related to Alliant Energy’s OPEB plans. | |||||||||||||||||||||||||||||||||||
Accumulated Benefit Obligations | Included in the following tables are accumulated benefit obligations, aggregate amounts applicable to defined benefit pension and OPEB plans with accumulated benefit obligations in excess of plan assets, as well as defined benefit pension plans with projected benefit obligations in excess of plan assets as of the December 31 measurement date (in millions): | |||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $1,255.00 | $1,071.70 | $231.10 | $208.70 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 1,255.00 | 406.5 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 347.6 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 1,301.50 | 1,113.40 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 1,022.90 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $575.50 | $491.50 | $96.40 | $87.80 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 575.5 | 159.3 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 144.6 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 603.1 | 514 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 485.9 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $532.50 | $446.70 | $94.00 | $85.60 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 532.5 | 115.6 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 106.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 547.6 | 460.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 438.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
Regulatory Assets and Regulatory Liabilities | In addition to the amounts recognized in “Regulatory assets and regulatory liabilities” in the above tables for IPL and WPL, “Regulatory assets” and “Regulatory liabilities” were recognized for amounts associated with Corporate Services employees participating in other Alliant Energy sponsored benefit plans that were allocated to IPL and WPL at December 31 as follows (in millions): | |||||||||||||||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Regulatory assets | $38.20 | $26.50 | $28.00 | $19.80 | ||||||||||||||||||||||||||||||||
Regulatory liabilities | — | 1.7 | — | 1.3 | ||||||||||||||||||||||||||||||||
Estimated Future Employer Contributions | Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2015 is as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined benefit pension plans (a) | $2.50 | $0.80 | $0.20 | |||||||||||||||||||||||||||||||||
OPEB plans | 5.7 | — | 5.5 | |||||||||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
Expected Benefit Payments | Expected benefit payments for the qualified and non-qualified defined benefit plans, which reflect expected future service, as appropriate, are as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $66.70 | $71.50 | $69.30 | $72.90 | $73.60 | $396.10 | ||||||||||||||||||||||||||||||
OPEB | 17.6 | 16.8 | 16.7 | 16.9 | 17 | 84 | ||||||||||||||||||||||||||||||
$84.30 | $88.30 | $86.00 | $89.80 | $90.60 | $480.10 | |||||||||||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $30.40 | $31.60 | $33.10 | $34.90 | $34.70 | $189.90 | ||||||||||||||||||||||||||||||
OPEB | 7.4 | 7.2 | 7.2 | 7.2 | 7.2 | 35.3 | ||||||||||||||||||||||||||||||
$37.80 | $38.80 | $40.30 | $42.10 | $41.90 | $225.20 | |||||||||||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $28.40 | $28.00 | $28.80 | $30.10 | $30.50 | $163.40 | ||||||||||||||||||||||||||||||
OPEB | 7.7 | 7 | 7 | 7 | 7.1 | 34.2 | ||||||||||||||||||||||||||||||
$36.10 | $35.00 | $35.80 | $37.10 | $37.60 | $197.60 | |||||||||||||||||||||||||||||||
Recognized Compensation Expense And Income Tax Benefits | A summary of compensation expense (including amounts allocated to IPL and WPL) and the related income tax benefits recognized for share-based compensation awards was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Compensation expense | $15.30 | $12.00 | $6.90 | $8.30 | $6.20 | $3.60 | $6.40 | $5.20 | $3.00 | |||||||||||||||||||||||||||
Income tax benefits | 6.2 | 4.8 | 2.8 | 3.4 | 2.5 | 1.5 | 2.6 | 2.1 | 1.2 | |||||||||||||||||||||||||||
Schedule Of Equity-based Compensation Plans Activity | Information related to fair values of nonvested performance shares and units at December 31, 2014, by year of grant, were as follows: | |||||||||||||||||||||||||||||||||||
Performance Shares | Performance Units | |||||||||||||||||||||||||||||||||||
2014 Grant | 2013 Grant | 2012 Grant | 2014 Grant | 2013 Grant | 2012 Grant | |||||||||||||||||||||||||||||||
Nonvested awards | 49,719 | 49,093 | 45,612 | 19,440 | 21,380 | 22,845 | ||||||||||||||||||||||||||||||
Alliant Energy common stock closing price on December 31, 2014 | $66.42 | $66.42 | $66.42 | |||||||||||||||||||||||||||||||||
Alliant Energy common stock closing price on grant date | $53.77 | $47.58 | $43.05 | |||||||||||||||||||||||||||||||||
Estimated payout percentage based on performance criteria | 125 | % | 160 | % | 168 | % | 125 | % | 160 | % | 168 | % | ||||||||||||||||||||||||
Fair values of each nonvested award | $83.03 | $106.27 | $111.25 | $67.21 | $76.13 | $72.11 | ||||||||||||||||||||||||||||||
Carrying Value Of Entity's Deferred Compensation Obligations Interest And Equity Accounts | At December 31, the carrying value of deferred compensation obligations for participants’ interest and equity accounts, which approximates fair market value, was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Carrying value | $17.80 | $15.90 | $5.20 | $5.20 | ||||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Assumptions Used To Measure Benefit Plans | The assumptions for defined benefit pension and OPEB plans at the measurement date of December 31 were as follows: | |||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.18% | 4.97% | 4.11% | 3.97% | 4.59% | 3.82% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 4.97% | 4.11% | 4.86% | 4.59% | 3.82% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.40% | 7.40% | 7.50% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | N/A | 3.50% | 3.50% | |||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.94% | 4.55% | 3.76% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.55% | 3.76% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.60% | 7.50% | 7.40% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.96% | 4.56% | 3.81% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.56% | 3.81% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.30% | 7.20% | 7.00% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Defined Benefit Pension And Other Postretirement Benefits Plans | The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans are included in the tables below (in millions). In the “IPL” and “WPL” tables below, the defined benefit pension plans costs represent those respective costs for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In the “IPL” and “WPL” tables below, the OPEB plans costs (credits) represent costs (credits) for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. | |||||||||||||||||||||||||||||||||||
Alliant Energy | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $13.10 | $15.70 | $13.50 | $5.20 | $6.30 | $6.90 | ||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 51.6 | 9.5 | 8.5 | 10.2 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (74.9 | ) | (74.0 | ) | (68.8 | ) | (8.3 | ) | (8.1 | ) | (7.5 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.2 | 0.3 | (11.9 | ) | (11.9 | ) | (12.0 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 19.5 | 36.2 | 33.3 | 2.4 | 4.9 | 6.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 9 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
Settlement losses (e) | — | — | 5.4 | — | — | — | ||||||||||||||||||||||||||||||
$11.80 | $36.10 | $35.40 | ($3.1 | ) | ($0.3 | ) | $3.90 | |||||||||||||||||||||||||||||
IPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $7.20 | $8.60 | $7.50 | $2.40 | $2.90 | $3.00 | ||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 24.1 | 3.9 | 3.6 | 4.4 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (35.7 | ) | (35.2 | ) | (32.6 | ) | (5.8 | ) | (5.6 | ) | (5.1 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.1 | 0.2 | (6.3 | ) | (6.3 | ) | (6.3 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 8 | 15.2 | 14.1 | 1.1 | 2.7 | 3.5 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 2.6 | — | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $14.20 | $13.30 | ($4.7 | ) | ($2.7 | ) | ($0.5 | ) | ||||||||||||||||||||||||||||
WPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $4.90 | $5.90 | $5.20 | $2.00 | $2.50 | $2.70 | ||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 21.6 | 3.8 | 3.4 | 4.1 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (32.4 | ) | (31.9 | ) | (29.6 | ) | (1.3 | ) | (1.3 | ) | (1.3 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | 0.3 | 0.3 | 0.4 | (3.9 | ) | (3.9 | ) | (3.9 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 9.2 | 17.1 | 15.7 | 1.3 | 1.9 | 2.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 0.6 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $12.70 | $13.40 | $1.90 | $2.60 | $3.90 | |||||||||||||||||||||||||||||||
(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 Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits. | |||||||||||||||||||||||||||||||||||
(d) | In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement. | |||||||||||||||||||||||||||||||||||
(e) | Settlement losses related to payments made to retired executives of Alliant Energy. | |||||||||||||||||||||||||||||||||||
Schedule Of Qualified And Non-Qualified Pension And Other Postretirement Benefits Costs | The following table includes the allocated qualified and non-qualified pension and OPEB costs (credits) associated with Corporate Services employees providing services to IPL and WPL (in millions): | |||||||||||||||||||||||||||||||||||
Pension Benefits Costs (a) | OPEB Costs (Credits) | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
IPL | $1.40 | $4.80 | $4.90 | ($0.3 | ) | ($0.3 | ) | $0.10 | ||||||||||||||||||||||||||||
WPL | 1.1 | 3.6 | 3.6 | (0.2 | ) | (0.2 | ) | 0.1 | ||||||||||||||||||||||||||||
(a) | Refer to IPL’s and WPL’s “Net Periodic Benefit Costs (Credits)” tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013. | |||||||||||||||||||||||||||||||||||
Estimated Amortization From Regulatory Assets And Regulatory Liabilities On The Consolidated Balance Sheets And Accumulated Other Comprehensive Loss On Alliant Energy's Consolidated Balance Sheet Into Net Periodic Benefit Cost | The estimated amortization from “Regulatory assets” and “Regulatory liabilities” on the balance sheets and AOCL on Alliant Energy’s balance sheet into net periodic benefit cost in 2015 is as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined Benefit | Defined Benefit | Defined Benefit | ||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||
Actuarial loss | $35.40 | $4.90 | $15.30 | $2.30 | $16.80 | $2.30 | ||||||||||||||||||||||||||||||
Prior service cost (credit) | (0.3 | ) | (11.3 | ) | (0.1 | ) | (6.1 | ) | 0.2 | (3.5 | ) | |||||||||||||||||||||||||
$35.10 | ($6.4 | ) | $15.20 | ($3.8 | ) | $17.00 | ($1.2 | ) | ||||||||||||||||||||||||||||
Funded Status Of Benefit Plans | A reconciliation of the funded status of IPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on IPL’s balance sheets at December 31 was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $514.00 | $559.20 | $87.80 | $96.00 | ||||||||||||||||||||||||||||||||
Service cost | 7.2 | 8.6 | 2.4 | 2.9 | ||||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 3.9 | 3.6 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 2.6 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 91.4 | (44.3 | ) | 8.6 | (7.0 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (34.6 | ) | (35.0 | ) | (7.2 | ) | (8.6 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 603.1 | 514 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 485.9 | 458.8 | 81.2 | 78.8 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 32.1 | 61.2 | 3.6 | 10 | ||||||||||||||||||||||||||||||||
Employer contributions | 1.3 | 0.9 | 0.2 | 0.1 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (34.6 | ) | (35.0 | ) | (7.2 | ) | (8.6 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 484.7 | 485.9 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($118.4 | ) | ($28.1 | ) | ($17.7 | ) | ($6.6 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $1.20 | $8.80 | ||||||||||||||||||||||||||||||||
Other current liabilities | (0.8 | ) | (0.8 | ) | — | — | ||||||||||||||||||||||||||||||
Pension and other benefit obligations | (117.6 | ) | (27.3 | ) | (18.9 | ) | (15.4 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($118.4 | ) | ($28.1 | ) | ($17.7 | ) | ($6.6 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $233.10 | $146.10 | $27.90 | $18.20 | ||||||||||||||||||||||||||||||||
Prior service credit | (2.6 | ) | (2.6 | ) | (8.7 | ) | (15.0 | ) | ||||||||||||||||||||||||||||
$230.50 | $143.50 | $19.20 | $3.20 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 for amounts recognized in “Regulatory assets” on IPL’s balance sheets. At December 31, 2014 and 2013, $0 and $1.0 million, respectively, of regulatory liabilities were recognized related to IPL’s OPEB plans. | |||||||||||||||||||||||||||||||||||
Accumulated Benefit Obligations | Included in the following tables are accumulated benefit obligations, aggregate amounts applicable to defined benefit pension and OPEB plans with accumulated benefit obligations in excess of plan assets, as well as defined benefit pension plans with projected benefit obligations in excess of plan assets as of the December 31 measurement date (in millions): | |||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $1,255.00 | $1,071.70 | $231.10 | $208.70 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 1,255.00 | 406.5 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 347.6 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 1,301.50 | 1,113.40 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 1,022.90 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $575.50 | $491.50 | $96.40 | $87.80 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 575.5 | 159.3 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 144.6 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 603.1 | 514 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 485.9 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $532.50 | $446.70 | $94.00 | $85.60 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 532.5 | 115.6 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 106.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 547.6 | 460.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 438.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
Regulatory Assets and Regulatory Liabilities | In addition to the amounts recognized in “Regulatory assets and regulatory liabilities” in the above tables for IPL and WPL, “Regulatory assets” and “Regulatory liabilities” were recognized for amounts associated with Corporate Services employees participating in other Alliant Energy sponsored benefit plans that were allocated to IPL and WPL at December 31 as follows (in millions): | |||||||||||||||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Regulatory assets | $38.20 | $26.50 | $28.00 | $19.80 | ||||||||||||||||||||||||||||||||
Regulatory liabilities | — | 1.7 | — | 1.3 | ||||||||||||||||||||||||||||||||
Estimated Future Employer Contributions | Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2015 is as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined benefit pension plans (a) | $2.50 | $0.80 | $0.20 | |||||||||||||||||||||||||||||||||
OPEB plans | 5.7 | — | 5.5 | |||||||||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
Expected Benefit Payments | Expected benefit payments for the qualified and non-qualified defined benefit plans, which reflect expected future service, as appropriate, are as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $66.70 | $71.50 | $69.30 | $72.90 | $73.60 | $396.10 | ||||||||||||||||||||||||||||||
OPEB | 17.6 | 16.8 | 16.7 | 16.9 | 17 | 84 | ||||||||||||||||||||||||||||||
$84.30 | $88.30 | $86.00 | $89.80 | $90.60 | $480.10 | |||||||||||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $30.40 | $31.60 | $33.10 | $34.90 | $34.70 | $189.90 | ||||||||||||||||||||||||||||||
OPEB | 7.4 | 7.2 | 7.2 | 7.2 | 7.2 | 35.3 | ||||||||||||||||||||||||||||||
$37.80 | $38.80 | $40.30 | $42.10 | $41.90 | $225.20 | |||||||||||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $28.40 | $28.00 | $28.80 | $30.10 | $30.50 | $163.40 | ||||||||||||||||||||||||||||||
OPEB | 7.7 | 7 | 7 | 7 | 7.1 | 34.2 | ||||||||||||||||||||||||||||||
$36.10 | $35.00 | $35.80 | $37.10 | $37.60 | $197.60 | |||||||||||||||||||||||||||||||
Recognized Compensation Expense And Income Tax Benefits | A summary of compensation expense (including amounts allocated to IPL and WPL) and the related income tax benefits recognized for share-based compensation awards was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Compensation expense | $15.30 | $12.00 | $6.90 | $8.30 | $6.20 | $3.60 | $6.40 | $5.20 | $3.00 | |||||||||||||||||||||||||||
Income tax benefits | 6.2 | 4.8 | 2.8 | 3.4 | 2.5 | 1.5 | 2.6 | 2.1 | 1.2 | |||||||||||||||||||||||||||
Carrying Value Of Entity's Deferred Compensation Obligations Interest And Equity Accounts | At December 31, the carrying value of deferred compensation obligations for participants’ interest and equity accounts, which approximates fair market value, was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Carrying value | $17.80 | $15.90 | $5.20 | $5.20 | ||||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Assumptions Used To Measure Benefit Plans | The assumptions for defined benefit pension and OPEB plans at the measurement date of December 31 were as follows: | |||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.18% | 4.97% | 4.11% | 3.97% | 4.59% | 3.82% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 4.97% | 4.11% | 4.86% | 4.59% | 3.82% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.40% | 7.40% | 7.50% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | 3.5 | % | - | 4.50% | N/A | 3.50% | 3.50% | |||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.94% | 4.55% | 3.76% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.55% | 3.76% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.60% | 7.50% | 7.40% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Qualified Defined Benefit Pension Plan | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% | 3.96% | 4.56% | 3.81% | ||||||||||||||||||||||||||||||
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% | 4.56% | 3.81% | 4.60% | ||||||||||||||||||||||||||||||
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% | 7.30% | 7.20% | 7.00% | ||||||||||||||||||||||||||||||
Rate of compensation increase | 3.50% | 3.50% | 3.50% | N/A | 3.50% | 3.50% | ||||||||||||||||||||||||||||||
Medical cost trend on covered charges: | ||||||||||||||||||||||||||||||||||||
Initial trend rate (end of year) | N/A | N/A | N/A | 6.75% | 7.00% | 7.50% | ||||||||||||||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Defined Benefit Pension And Other Postretirement Benefits Plans | The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans are included in the tables below (in millions). In the “IPL” and “WPL” tables below, the defined benefit pension plans costs represent those respective costs for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In the “IPL” and “WPL” tables below, the OPEB plans costs (credits) represent costs (credits) for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. | |||||||||||||||||||||||||||||||||||
Alliant Energy | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $13.10 | $15.70 | $13.50 | $5.20 | $6.30 | $6.90 | ||||||||||||||||||||||||||||||
Interest cost | 54.1 | 49 | 51.6 | 9.5 | 8.5 | 10.2 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (74.9 | ) | (74.0 | ) | (68.8 | ) | (8.3 | ) | (8.1 | ) | (7.5 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.2 | 0.3 | (11.9 | ) | (11.9 | ) | (12.0 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 19.5 | 36.2 | 33.3 | 2.4 | 4.9 | 6.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 9 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
Settlement losses (e) | — | — | 5.4 | — | — | — | ||||||||||||||||||||||||||||||
$11.80 | $36.10 | $35.40 | ($3.1 | ) | ($0.3 | ) | $3.90 | |||||||||||||||||||||||||||||
IPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $7.20 | $8.60 | $7.50 | $2.40 | $2.90 | $3.00 | ||||||||||||||||||||||||||||||
Interest cost | 25.1 | 22.9 | 24.1 | 3.9 | 3.6 | 4.4 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (35.7 | ) | (35.2 | ) | (32.6 | ) | (5.8 | ) | (5.6 | ) | (5.1 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | — | 0.1 | 0.2 | (6.3 | ) | (6.3 | ) | (6.3 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 8 | 15.2 | 14.1 | 1.1 | 2.7 | 3.5 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 2.6 | — | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $14.20 | $13.30 | ($4.7 | ) | ($2.7 | ) | ($0.5 | ) | ||||||||||||||||||||||||||||
WPL | Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Service cost | $4.90 | $5.90 | $5.20 | $2.00 | $2.50 | $2.70 | ||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 21.6 | 3.8 | 3.4 | 4.1 | ||||||||||||||||||||||||||||||
Expected return on plan assets (a) | (32.4 | ) | (31.9 | ) | (29.6 | ) | (1.3 | ) | (1.3 | ) | (1.3 | ) | ||||||||||||||||||||||||
Amortization of prior service cost (credit) (b) | 0.3 | 0.3 | 0.4 | (3.9 | ) | (3.9 | ) | (3.9 | ) | |||||||||||||||||||||||||||
Amortization of actuarial loss (c) | 9.2 | 17.1 | 15.7 | 1.3 | 1.9 | 2.3 | ||||||||||||||||||||||||||||||
Additional benefit costs (d) | — | 0.6 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||
$4.60 | $12.70 | $13.40 | $1.90 | $2.60 | $3.90 | |||||||||||||||||||||||||||||||
(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 Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits. | |||||||||||||||||||||||||||||||||||
(d) | In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement. | |||||||||||||||||||||||||||||||||||
(e) | Settlement losses related to payments made to retired executives of Alliant Energy. | |||||||||||||||||||||||||||||||||||
Schedule Of Qualified And Non-Qualified Pension And Other Postretirement Benefits Costs | The following table includes the allocated qualified and non-qualified pension and OPEB costs (credits) associated with Corporate Services employees providing services to IPL and WPL (in millions): | |||||||||||||||||||||||||||||||||||
Pension Benefits Costs (a) | OPEB Costs (Credits) | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
IPL | $1.40 | $4.80 | $4.90 | ($0.3 | ) | ($0.3 | ) | $0.10 | ||||||||||||||||||||||||||||
WPL | 1.1 | 3.6 | 3.6 | (0.2 | ) | (0.2 | ) | 0.1 | ||||||||||||||||||||||||||||
(a) | Refer to IPL’s and WPL’s “Net Periodic Benefit Costs (Credits)” tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013. | |||||||||||||||||||||||||||||||||||
Estimated Amortization From Regulatory Assets And Regulatory Liabilities On The Consolidated Balance Sheets And Accumulated Other Comprehensive Loss On Alliant Energy's Consolidated Balance Sheet Into Net Periodic Benefit Cost | The estimated amortization from “Regulatory assets” and “Regulatory liabilities” on the balance sheets and AOCL on Alliant Energy’s balance sheet into net periodic benefit cost in 2015 is as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined Benefit | Defined Benefit | Defined Benefit | ||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||
Actuarial loss | $35.40 | $4.90 | $15.30 | $2.30 | $16.80 | $2.30 | ||||||||||||||||||||||||||||||
Prior service cost (credit) | (0.3 | ) | (11.3 | ) | (0.1 | ) | (6.1 | ) | 0.2 | (3.5 | ) | |||||||||||||||||||||||||
$35.10 | ($6.4 | ) | $15.20 | ($3.8 | ) | $17.00 | ($1.2 | ) | ||||||||||||||||||||||||||||
Funded Status Of Benefit Plans | A reconciliation of the funded status of WPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on WPL’s balance sheets at December 31 was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||||||||||||||||||
Net benefit obligation at January 1 | $460.80 | $506.70 | $85.60 | $89.10 | ||||||||||||||||||||||||||||||||
Service cost | 4.9 | 5.9 | 2 | 2.5 | ||||||||||||||||||||||||||||||||
Interest cost | 22.6 | 20.7 | 3.8 | 3.4 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 1.3 | 1.2 | ||||||||||||||||||||||||||||||||
Additional benefit costs | — | 0.6 | — | — | ||||||||||||||||||||||||||||||||
Actuarial (gain) loss | 86.7 | (41.1 | ) | 9.2 | (3.0 | ) | ||||||||||||||||||||||||||||||
Gross benefits paid | (27.4 | ) | (32.0 | ) | (7.9 | ) | (7.6 | ) | ||||||||||||||||||||||||||||
Net benefit obligation at December 31 | 547.6 | 460.8 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | 438.8 | 415.4 | 21.7 | 22.3 | ||||||||||||||||||||||||||||||||
Actual return on plan assets | 28.6 | 55.2 | 1.2 | 2.5 | ||||||||||||||||||||||||||||||||
Employer contributions | 0.3 | 0.2 | 5.5 | 3.3 | ||||||||||||||||||||||||||||||||
Plan participants’ contributions | — | — | 1.3 | 1.2 | ||||||||||||||||||||||||||||||||
Gross benefits paid | (27.4 | ) | (32.0 | ) | (7.9 | ) | (7.6 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | 440.3 | 438.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Under funded status at December 31 | ($107.3 | ) | ($22.0 | ) | ($72.2 | ) | ($63.9 | ) | ||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Amounts recognized on the balance sheets consist of: | ||||||||||||||||||||||||||||||||||||
Non-current assets | $— | $— | $4.90 | $5.80 | ||||||||||||||||||||||||||||||||
Other current liabilities | (0.1 | ) | (0.2 | ) | (5.5 | ) | (4.8 | ) | ||||||||||||||||||||||||||||
Pension and other benefit obligations | (107.2 | ) | (21.8 | ) | (71.6 | ) | (64.9 | ) | ||||||||||||||||||||||||||||
Net amounts recognized at December 31 | ($107.3 | ) | ($22.0 | ) | ($72.2 | ) | ($63.9 | ) | ||||||||||||||||||||||||||||
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a): | ||||||||||||||||||||||||||||||||||||
Net actuarial loss | $233.50 | $152.20 | $26.30 | $18.30 | ||||||||||||||||||||||||||||||||
Prior service credit | (1.0 | ) | (0.7 | ) | (5.6 | ) | (9.5 | ) | ||||||||||||||||||||||||||||
$232.50 | $151.50 | $20.70 | $8.80 | |||||||||||||||||||||||||||||||||
(a) | Refer to Note 2 for amounts recognized in “Regulatory assets” on WPL’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $1.1 million, respectively, of regulatory liabilities were recognized related to WPL’s OPEB plans. | |||||||||||||||||||||||||||||||||||
Accumulated Benefit Obligations | Included in the following tables are accumulated benefit obligations, aggregate amounts applicable to defined benefit pension and OPEB plans with accumulated benefit obligations in excess of plan assets, as well as defined benefit pension plans with projected benefit obligations in excess of plan assets as of the December 31 measurement date (in millions): | |||||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $1,255.00 | $1,071.70 | $231.10 | $208.70 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 1,255.00 | 406.5 | 231.1 | 208.7 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 347.6 | 121.6 | 124.9 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 1,301.50 | 1,113.40 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 1,018.10 | 1,022.90 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
IPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $575.50 | $491.50 | $96.40 | $87.80 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 575.5 | 159.3 | 96.4 | 87.8 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 144.6 | 78.7 | 81.2 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 603.1 | 514 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 484.7 | 485.9 | N/A | N/A | ||||||||||||||||||||||||||||||||
Defined Benefit | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||||||||||||||
WPL | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||
Accumulated benefit obligations | $532.50 | $446.70 | $94.00 | $85.60 | ||||||||||||||||||||||||||||||||
Plans with accumulated benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 532.5 | 115.6 | 94 | 85.6 | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 106.8 | 21.8 | 21.7 | ||||||||||||||||||||||||||||||||
Plans with projected benefit obligations in excess of plan assets: | ||||||||||||||||||||||||||||||||||||
Projected benefit obligations | 547.6 | 460.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
Fair value of plan assets | 440.3 | 438.8 | N/A | N/A | ||||||||||||||||||||||||||||||||
Regulatory Assets and Regulatory Liabilities | In addition to the amounts recognized in “Regulatory assets and regulatory liabilities” in the above tables for IPL and WPL, “Regulatory assets” and “Regulatory liabilities” were recognized for amounts associated with Corporate Services employees participating in other Alliant Energy sponsored benefit plans that were allocated to IPL and WPL at December 31 as follows (in millions): | |||||||||||||||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Regulatory assets | $38.20 | $26.50 | $28.00 | $19.80 | ||||||||||||||||||||||||||||||||
Regulatory liabilities | — | 1.7 | — | 1.3 | ||||||||||||||||||||||||||||||||
Estimated Future Employer Contributions | Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2015 is as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Defined benefit pension plans (a) | $2.50 | $0.80 | $0.20 | |||||||||||||||||||||||||||||||||
OPEB plans | 5.7 | — | 5.5 | |||||||||||||||||||||||||||||||||
(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. | |||||||||||||||||||||||||||||||||||
Expected Benefit Payments | Expected benefit payments for the qualified and non-qualified defined benefit plans, which reflect expected future service, as appropriate, are as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $66.70 | $71.50 | $69.30 | $72.90 | $73.60 | $396.10 | ||||||||||||||||||||||||||||||
OPEB | 17.6 | 16.8 | 16.7 | 16.9 | 17 | 84 | ||||||||||||||||||||||||||||||
$84.30 | $88.30 | $86.00 | $89.80 | $90.60 | $480.10 | |||||||||||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $30.40 | $31.60 | $33.10 | $34.90 | $34.70 | $189.90 | ||||||||||||||||||||||||||||||
OPEB | 7.4 | 7.2 | 7.2 | 7.2 | 7.2 | 35.3 | ||||||||||||||||||||||||||||||
$37.80 | $38.80 | $40.30 | $42.10 | $41.90 | $225.20 | |||||||||||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 - 2024 | ||||||||||||||||||||||||||||||
Defined benefit pension benefits | $28.40 | $28.00 | $28.80 | $30.10 | $30.50 | $163.40 | ||||||||||||||||||||||||||||||
OPEB | 7.7 | 7 | 7 | 7 | 7.1 | 34.2 | ||||||||||||||||||||||||||||||
$36.10 | $35.00 | $35.80 | $37.10 | $37.60 | $197.60 | |||||||||||||||||||||||||||||||
Recognized Compensation Expense And Income Tax Benefits | A summary of compensation expense (including amounts allocated to IPL and WPL) and the related income tax benefits recognized for share-based compensation awards was as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Compensation expense | $15.30 | $12.00 | $6.90 | $8.30 | $6.20 | $3.60 | $6.40 | $5.20 | $3.00 | |||||||||||||||||||||||||||
Income tax benefits | 6.2 | 4.8 | 2.8 | 3.4 | 2.5 | 1.5 | 2.6 | 2.1 | 1.2 | |||||||||||||||||||||||||||
Pension Plans, Defined Benefit [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations | At December 31, 2014, the current target ranges and actual allocations for the defined benefit pension plan assets were as follows: | |||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 5% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 8 | % | - | 18% | 13% | |||||||||||||||||||||||||||||||
U.S. large cap value | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. large cap growth | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. small cap value | 0 | % | - | 4% | 1% | |||||||||||||||||||||||||||||||
U.S. small cap growth | 0 | % | - | 4% | 2% | |||||||||||||||||||||||||||||||
International - developed markets | 7 | % | - | 19% | 10% | |||||||||||||||||||||||||||||||
International - emerging markets | 0 | % | - | 10% | 5% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Risk parity allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Fixed income securities | 20 | % | - | 40% | 30% | |||||||||||||||||||||||||||||||
At December 31, the fair values of Alliant Energy’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $49.30 | $— | $49.30 | $— | $32.60 | $— | $32.60 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 137.2 | 137.2 | — | — | 134.1 | 134.1 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 72.2 | — | 72.2 | — | 77 | — | 77 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 73.2 | — | 73.2 | — | 77.4 | — | 77.4 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 15.2 | — | 15.2 | — | 20.7 | — | 20.7 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 15.9 | 15.9 | — | — | 20.8 | 20.8 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 102.9 | 52.1 | 50.8 | — | 136.3 | 68 | 68.3 | — | ||||||||||||||||||||||||||||
International - emerging markets | 47.2 | 47.2 | — | — | 48.4 | 48.4 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 99.9 | 57.2 | 42.7 | — | 99.1 | 56.7 | 42.4 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 102.5 | — | 102.5 | — | 96.1 | — | 96.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | 0.1 | — | 0.1 | — | 29.2 | — | 29.2 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 49.1 | — | 49.1 | — | ||||||||||||||||||||||||||||
Fixed income funds | 302.7 | 0.2 | 302.5 | — | 202.2 | 0.2 | 202 | — | ||||||||||||||||||||||||||||
1,018.30 | $309.80 | $708.50 | $— | 1,023.00 | $328.20 | $694.80 | $— | |||||||||||||||||||||||||||||
Accrued investment income | 0.1 | 0.7 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.3 | ) | (0.8 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $1,018.10 | $1,022.90 | ||||||||||||||||||||||||||||||||||
Pension Plans, Defined Benefit [Member] | IPL [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations | At December 31, 2014, the current target ranges and actual allocations for the defined benefit pension plan assets were as follows: | |||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 5% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 8 | % | - | 18% | 13% | |||||||||||||||||||||||||||||||
U.S. large cap value | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. large cap growth | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. small cap value | 0 | % | - | 4% | 1% | |||||||||||||||||||||||||||||||
U.S. small cap growth | 0 | % | - | 4% | 2% | |||||||||||||||||||||||||||||||
International - developed markets | 7 | % | - | 19% | 10% | |||||||||||||||||||||||||||||||
International - emerging markets | 0 | % | - | 10% | 5% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Risk parity allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Fixed income securities | 20 | % | - | 40% | 30% | |||||||||||||||||||||||||||||||
At December 31, the fair values of IPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $23.50 | $— | $23.50 | $— | $15.40 | $— | $15.40 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 65.3 | 65.3 | — | — | 63.7 | 63.7 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 34.4 | — | 34.4 | — | 36.6 | — | 36.6 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 34.9 | — | 34.9 | — | 36.8 | — | 36.8 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 7.2 | — | 7.2 | — | 9.8 | — | 9.8 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 7.6 | 7.6 | — | — | 9.9 | 9.9 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 49 | 24.8 | 24.2 | — | 64.8 | 32.3 | 32.5 | — | ||||||||||||||||||||||||||||
International - emerging markets | 22.5 | 22.5 | — | — | 23 | 23 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 47.5 | 27.2 | 20.3 | — | 47.1 | 27 | 20.1 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 48.8 | — | 48.8 | — | 45.7 | — | 45.7 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 13.9 | — | 13.9 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 23.3 | — | 23.3 | — | ||||||||||||||||||||||||||||
Fixed income funds | 144.1 | 0.1 | 144 | — | 96.1 | 0.1 | 96 | — | ||||||||||||||||||||||||||||
484.8 | $147.50 | $337.30 | $— | 486.1 | $156.00 | $330.10 | $— | |||||||||||||||||||||||||||||
Accrued investment income | 0.1 | 0.2 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.2 | ) | (0.4 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $484.70 | $485.90 | ||||||||||||||||||||||||||||||||||
Pension Plans, Defined Benefit [Member] | WPL [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations | At December 31, the fair values of WPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $21.30 | $— | $21.30 | $— | $14.00 | $— | $14.00 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 59.3 | 59.3 | — | — | 57.5 | 57.5 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 31.3 | — | 31.3 | — | 33.1 | — | 33.1 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 31.7 | — | 31.7 | — | 33.2 | — | 33.2 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 6.6 | — | 6.6 | — | 8.9 | — | 8.9 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 6.9 | 6.9 | — | — | 8.9 | 8.9 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 44.5 | 22.5 | 22 | — | 58.5 | 29.2 | 29.3 | — | ||||||||||||||||||||||||||||
International - emerging markets | 20.4 | 20.4 | — | — | 20.8 | 20.8 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 43.2 | 24.8 | 18.4 | — | 42.5 | 24.3 | 18.2 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 44.3 | — | 44.3 | — | 41.2 | — | 41.2 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 12.5 | — | 12.5 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 21 | — | 21 | — | ||||||||||||||||||||||||||||
Fixed income funds | 130.9 | 0.1 | 130.8 | — | 86.8 | 0.1 | 86.7 | — | ||||||||||||||||||||||||||||
440.4 | $134.00 | $306.40 | $— | 438.9 | $140.80 | $298.10 | $— | |||||||||||||||||||||||||||||
Accrued investment income | — | 0.2 | ||||||||||||||||||||||||||||||||||
Due to brokers, net (pending trades with brokers) | (0.1 | ) | (0.3 | ) | ||||||||||||||||||||||||||||||||
Total pension plan assets | $440.30 | $438.80 | ||||||||||||||||||||||||||||||||||
At December 31, 2014, the current target ranges and actual allocations for the defined benefit pension plan assets were as follows: | ||||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 5% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. large cap core | 8 | % | - | 18% | 13% | |||||||||||||||||||||||||||||||
U.S. large cap value | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. large cap growth | 2.5 | % | - | 12.50% | 7% | |||||||||||||||||||||||||||||||
U.S. small cap value | 0 | % | - | 4% | 1% | |||||||||||||||||||||||||||||||
U.S. small cap growth | 0 | % | - | 4% | 2% | |||||||||||||||||||||||||||||||
International - developed markets | 7 | % | - | 19% | 10% | |||||||||||||||||||||||||||||||
International - emerging markets | 0 | % | - | 10% | 5% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Risk parity allocation securities | 5 | % | - | 15% | 10% | |||||||||||||||||||||||||||||||
Fixed income securities | 20 | % | - | 40% | 30% | |||||||||||||||||||||||||||||||
Defined Contribution Plans [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Employees Participate In Defined Contribution Retirement Plans | Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions, were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL (a) | WPL (a) | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
401(k) costs | $22.50 | $19.20 | $18.50 | $11.10 | $9.90 | $9.60 | $10.50 | $8.50 | $8.10 | |||||||||||||||||||||||||||
(a) | IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees. | |||||||||||||||||||||||||||||||||||
Defined Contribution Plans [Member] | IPL [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Employees Participate In Defined Contribution Retirement Plans | Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions, were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL (a) | WPL (a) | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
401(k) costs | $22.50 | $19.20 | $18.50 | $11.10 | $9.90 | $9.60 | $10.50 | $8.50 | $8.10 | |||||||||||||||||||||||||||
(a) | IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees. | |||||||||||||||||||||||||||||||||||
Defined Contribution Plans [Member] | WPL [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Employees Participate In Defined Contribution Retirement Plans | Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions, were as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL (a) | WPL (a) | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
401(k) costs | $22.50 | $19.20 | $18.50 | $11.10 | $9.90 | $9.60 | $10.50 | $8.50 | $8.10 | |||||||||||||||||||||||||||
(a) | IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees. | |||||||||||||||||||||||||||||||||||
Other Postretirement Benefits Plans [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations | At December 31, 2014, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million were as follows: | |||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 2% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
Domestic | 25 | % | - | 45% | 36% | |||||||||||||||||||||||||||||||
International | 10 | % | - | 20% | 14% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 20 | % | - | 40% | 29% | |||||||||||||||||||||||||||||||
Fixed income securities | 10 | % | - | 30% | 19% | |||||||||||||||||||||||||||||||
At December 31, the fair values of Alliant Energy’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $3.70 | $— | $3.70 | $— | $3.90 | $— | $3.90 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 35.8 | 35.8 | — | — | 36.8 | 36.8 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 2.9 | 2.9 | — | — | 2.9 | 2.9 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 1.5 | — | 1.5 | — | 1.7 | — | 1.7 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 1.6 | — | 1.6 | — | 1.7 | — | 1.7 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.3 | — | 0.3 | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.4 | 0.4 | — | — | 0.5 | 0.5 | — | — | ||||||||||||||||||||||||||||
International - blend | 14.2 | 14.2 | — | — | 15.4 | 15.4 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 2.2 | 1.1 | 1.1 | — | 3 | 1.5 | 1.5 | — | ||||||||||||||||||||||||||||
International - emerging markets | 1 | 1 | — | — | 1.1 | 1.1 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 30.3 | 29.4 | 0.9 | — | 30.4 | 29.5 | 0.9 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 2.2 | — | 2.2 | — | 2.1 | — | 2.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.6 | — | 0.6 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 1.1 | — | 1.1 | — | ||||||||||||||||||||||||||||
Fixed income funds | 25.5 | 19 | 6.5 | — | 23.2 | 18.8 | 4.4 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $121.60 | $103.80 | $17.80 | $— | $124.90 | $106.50 | $18.40 | $— | ||||||||||||||||||||||||||||
Other Postretirement Benefits Plans [Member] | IPL [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations | At December 31, the fair values of IPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $1.40 | $— | $1.40 | $— | $1.50 | $— | $1.50 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 27.2 | 27.2 | — | — | 27.8 | 27.8 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 0.5 | 0.5 | — | — | 0.7 | 0.7 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 0.3 | — | 0.3 | — | 0.4 | — | 0.4 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 0.3 | — | 0.3 | — | 0.4 | — | 0.4 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.1 | — | 0.1 | — | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.1 | 0.1 | — | — | 0.1 | 0.1 | — | — | ||||||||||||||||||||||||||||
International - blend | 10.7 | 10.7 | — | — | 11.6 | 11.6 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 0.4 | 0.2 | 0.2 | — | 0.8 | 0.4 | 0.4 | — | ||||||||||||||||||||||||||||
International - emerging markets | 0.2 | 0.2 | — | — | 0.3 | 0.3 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 21.6 | 21.5 | 0.1 | — | 21.6 | 21.4 | 0.2 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 0.4 | — | 0.4 | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 0.3 | — | 0.3 | — | ||||||||||||||||||||||||||||
Fixed income funds | 15.5 | 14.3 | 1.2 | — | 15 | 13.9 | 1.1 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $78.70 | $74.70 | $4.00 | $— | $81.20 | $76.20 | $5.00 | $— | ||||||||||||||||||||||||||||
At December 31, 2014, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million were as follows: | ||||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 2% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
Domestic | 25 | % | - | 45% | 36% | |||||||||||||||||||||||||||||||
International | 10 | % | - | 20% | 14% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 20 | % | - | 40% | 29% | |||||||||||||||||||||||||||||||
Fixed income securities | 10 | % | - | 30% | 19% | |||||||||||||||||||||||||||||||
Other Postretirement Benefits Plans [Member] | WPL [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations | At December 31, the fair values of WPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||||||
Cash and equivalents | $1.40 | $— | $1.40 | $— | $1.40 | $— | $1.40 | $— | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
U.S. blend | 3.6 | 3.6 | — | — | 3.6 | 3.6 | — | — | ||||||||||||||||||||||||||||
U.S. large cap core | 1.6 | 1.6 | — | — | 1.5 | 1.5 | — | — | ||||||||||||||||||||||||||||
U.S. large cap value | 0.8 | — | 0.8 | — | 0.8 | — | 0.8 | — | ||||||||||||||||||||||||||||
U.S. large cap growth | 0.8 | — | 0.8 | — | 0.8 | — | 0.8 | — | ||||||||||||||||||||||||||||
U.S. small cap value | 0.2 | — | 0.2 | — | 0.2 | — | 0.2 | — | ||||||||||||||||||||||||||||
U.S. small cap growth | 0.2 | 0.2 | — | — | 0.2 | 0.2 | — | — | ||||||||||||||||||||||||||||
International - blend | 1.4 | 1.4 | — | — | 1.5 | 1.5 | — | — | ||||||||||||||||||||||||||||
International - developed markets | 1.2 | 0.6 | 0.6 | — | 1.5 | 0.7 | 0.8 | — | ||||||||||||||||||||||||||||
International - emerging markets | 0.5 | 0.5 | — | — | 0.5 | 0.5 | — | — | ||||||||||||||||||||||||||||
Global asset allocation securities | 3.8 | 3.3 | 0.5 | — | 3.8 | 3.3 | 0.5 | — | ||||||||||||||||||||||||||||
Risk parity allocation securities | 1.1 | — | 1.1 | — | 1.1 | — | 1.1 | — | ||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||
Corporate bonds | — | — | — | — | 0.3 | — | 0.3 | — | ||||||||||||||||||||||||||||
Government and agency obligations | — | — | — | — | 0.5 | — | 0.5 | — | ||||||||||||||||||||||||||||
Fixed income funds | 5.2 | 1.8 | 3.4 | — | 4 | 1.8 | 2.2 | — | ||||||||||||||||||||||||||||
Total OPEB plan assets | $21.80 | $13.00 | $8.80 | $— | $21.70 | $13.10 | $8.60 | $— | ||||||||||||||||||||||||||||
At December 31, 2014, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million were as follows: | ||||||||||||||||||||||||||||||||||||
Target Range | Actual | |||||||||||||||||||||||||||||||||||
Allocation | Allocation | |||||||||||||||||||||||||||||||||||
Cash and equivalents | 0 | % | - | 5% | 2% | |||||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||
Domestic | 25 | % | - | 45% | 36% | |||||||||||||||||||||||||||||||
International | 10 | % | - | 20% | 14% | |||||||||||||||||||||||||||||||
Global asset allocation securities | 20 | % | - | 40% | 29% | |||||||||||||||||||||||||||||||
Fixed income securities | 10 | % | - | 30% | 19% | |||||||||||||||||||||||||||||||
Company Stock Accounts [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Carrying Value And Fair Market Value Of The Deferred Compensation Obligations | At December 31, the carrying value of the deferred compensation obligation for the company stock accounts and the shares in the deferred compensation trust based on the historical value of the shares of Alliant Energy common stock contributed to the rabbi trust, and the fair market value of the shares held in the rabbi trust were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Carrying value | $8.90 | $8.00 | ||||||||||||||||||||||||||||||||||
Fair market value | 15.9 | 11.7 | ||||||||||||||||||||||||||||||||||
Performance Shares [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Schedule Of Equity-based Compensation Plans Activity | A summary of the performance shares activity was as follows: | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares (a) | Shares (a) | Shares (a) | ||||||||||||||||||||||||||||||||||
Nonvested shares, January 1 | 139,940 | 145,277 | 236,979 | |||||||||||||||||||||||||||||||||
Granted | 51,221 | 49,093 | 45,612 | |||||||||||||||||||||||||||||||||
Vested | (45,235 | ) | (54,430 | ) | (111,980 | ) | ||||||||||||||||||||||||||||||
Forfeited (b) | (1,502 | ) | — | (25,334 | ) | |||||||||||||||||||||||||||||||
Nonvested shares, December 31 | 144,424 | 139,940 | 145,277 | |||||||||||||||||||||||||||||||||
(a) | Share amounts represent the target number of performance shares. Each performance share’s value is based on the closing market price of one share of Alliant Energy’s common stock at the end of the performance period. The actual number of shares that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of shares. | |||||||||||||||||||||||||||||||||||
(b) | Forfeitures were primarily caused by retirements and voluntary terminations of participants. | |||||||||||||||||||||||||||||||||||
Certain performance shares vested, resulting in payouts (a combination of cash and common stock) as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
2011 Grant | 2010 Grant | 2009 Grant | ||||||||||||||||||||||||||||||||||
Performance shares vested | 45,235 | 54,430 | 111,980 | |||||||||||||||||||||||||||||||||
Percentage of target number of performance shares | 147.5 | % | 197.5 | % | 162.5 | % | ||||||||||||||||||||||||||||||
Aggregate payout value (in millions) | $3.40 | $4.80 | $8.00 | |||||||||||||||||||||||||||||||||
Payout - cash (in millions) | $2.90 | $4.40 | $7.80 | |||||||||||||||||||||||||||||||||
Payout - common stock shares issued | 4,810 | 4,177 | 6,399 | |||||||||||||||||||||||||||||||||
Performance Units [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Schedule Of Equity-based Compensation Plans Activity | A summary of the performance unit activity was as follows: | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Units (a) | Units (a) | Units (a) | ||||||||||||||||||||||||||||||||||
Nonvested units, January 1 | 65,912 | 64,969 | 42,996 | |||||||||||||||||||||||||||||||||
Granted | 20,422 | 22,201 | 24,686 | |||||||||||||||||||||||||||||||||
Vested | (20,751 | ) | (19,760 | ) | — | |||||||||||||||||||||||||||||||
Forfeited | (1,918 | ) | (1,498 | ) | (2,713 | ) | ||||||||||||||||||||||||||||||
Nonvested units, December 31 | 63,665 | 65,912 | 64,969 | |||||||||||||||||||||||||||||||||
(a) | Unit amounts represent the target number of performance units. Each performance unit’s value is based on the average price of one share of Alliant Energy’s common stock on the grant date of the award. The actual payout for performance units is dependent upon actual performance and may range from zero to 200% of the target number of units. | |||||||||||||||||||||||||||||||||||
Certain performance units vested, resulting in cash payouts as follows: | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
2011 Grant | 2010 Grant | |||||||||||||||||||||||||||||||||||
Performance units vested | 20,751 | 19,760 | ||||||||||||||||||||||||||||||||||
Percentage of target number of performance units | 147.5 | % | 197.5 | % | ||||||||||||||||||||||||||||||||
Payout value (in millions) | $1.20 | $1.30 | ||||||||||||||||||||||||||||||||||
Performance-Contingent Restricted Stock [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Schedule Of Equity-based Compensation Plans Activity | A summary of the performance-contingent restricted stock activity was as follows: | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | |||||||||||||||||||||||||||||||
Average | Average | Average | ||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||||||||||||||||||||
Nonvested shares, January 1 | 158,922 | $42.71 | 211,651 | $32.42 | 301,738 | $32.60 | ||||||||||||||||||||||||||||||
Granted | 51,221 | 53.77 | 49,093 | 47.58 | 45,612 | 43.05 | ||||||||||||||||||||||||||||||
Vested (a) | (90,847 | ) | 40.91 | — | — | (65,172 | ) | 32.56 | ||||||||||||||||||||||||||||
Forfeited (b) | (20,484 | ) | 39.85 | (101,822 | ) | 23.67 | (70,527 | ) | 39.93 | |||||||||||||||||||||||||||
Nonvested shares, December 31 | 98,812 | 50.69 | 158,922 | 42.71 | 211,651 | 32.42 | ||||||||||||||||||||||||||||||
(a) | In 2014, 45,612 and 45,235 performance contingent restricted shares granted in 2012 and 2011, respectively, vested because the specified performance criteria for such shares were met. In 2012, 65,172 performance-contingent restricted shares granted in 2010 vested because the specified performance criteria for such shares were met. | |||||||||||||||||||||||||||||||||||
(b) | In 2013 and 2012, 101,822 and 65,516 performance-contingent restricted shares granted in 2009 and 2008, respectively, were forfeited because the specified performance criteria for such shares were not met. The remaining forfeitures during 2014 and 2012 were primarily caused by retirements and terminations of participants. | |||||||||||||||||||||||||||||||||||
Performance Contingent Cash Awards [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||
Schedule Of Equity-based Compensation Plans Activity | A summary of the performance contingent cash awards activity was as follows: | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Awards | Awards | Awards | ||||||||||||||||||||||||||||||||||
Nonvested awards, January 1 | 96,977 | 59,639 | 46,676 | |||||||||||||||||||||||||||||||||
Granted | 42,446 | 39,530 | 36,936 | |||||||||||||||||||||||||||||||||
Vested (a) | (55,517 | ) | — | (21,605 | ) | |||||||||||||||||||||||||||||||
Forfeited | (4,976 | ) | (2,192 | ) | (2,368 | ) | ||||||||||||||||||||||||||||||
Nonvested awards, December 31 | 78,930 | 96,977 | 59,639 | |||||||||||||||||||||||||||||||||
(a) | In 2014, 34,766 and 20,751 performance contingent cash awards granted in 2012 and 2011 vested, resulting in cash payouts valued at $1.9 million and $1.1 million, respectively. In 2012, 21,605 performance contingent cash awards granted in 2010 vested, resulting in cash payouts valued at $0.9 million. |
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Schedule of Asset Retirement Obligations [Line Items] | ||||||||||||||||||||||||
Reconciliation Of Changes In Asset Retirement Obligations (AROs) | A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Balance, January 1 | $109.70 | $101.50 | $47.90 | $45.50 | $52.40 | $46.90 | ||||||||||||||||||
Revisions in estimated cash flows | — | 5.6 | — | 0.1 | — | 5.5 | ||||||||||||||||||
Liabilities settled | (3.4 | ) | (2.3 | ) | (1.4 | ) | (0.6 | ) | (2.0 | ) | (1.7 | ) | ||||||||||||
Liabilities incurred | 3.7 | 1.2 | 3.5 | 1.2 | 0.2 | — | ||||||||||||||||||
Accretion expense | 4 | 3.7 | 1.8 | 1.7 | 1.8 | 1.7 | ||||||||||||||||||
Balance, December 31 | $114.00 | $109.70 | $51.80 | $47.90 | $52.40 | $52.40 | ||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Schedule of Asset Retirement Obligations [Line Items] | ||||||||||||||||||||||||
Reconciliation Of Changes In Asset Retirement Obligations (AROs) | A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Balance, January 1 | $109.70 | $101.50 | $47.90 | $45.50 | $52.40 | $46.90 | ||||||||||||||||||
Revisions in estimated cash flows | — | 5.6 | — | 0.1 | — | 5.5 | ||||||||||||||||||
Liabilities settled | (3.4 | ) | (2.3 | ) | (1.4 | ) | (0.6 | ) | (2.0 | ) | (1.7 | ) | ||||||||||||
Liabilities incurred | 3.7 | 1.2 | 3.5 | 1.2 | 0.2 | — | ||||||||||||||||||
Accretion expense | 4 | 3.7 | 1.8 | 1.7 | 1.8 | 1.7 | ||||||||||||||||||
Balance, December 31 | $114.00 | $109.70 | $51.80 | $47.90 | $52.40 | $52.40 | ||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Schedule of Asset Retirement Obligations [Line Items] | ||||||||||||||||||||||||
Reconciliation Of Changes In Asset Retirement Obligations (AROs) | A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): | |||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Balance, January 1 | $109.70 | $101.50 | $47.90 | $45.50 | $52.40 | $46.90 | ||||||||||||||||||
Revisions in estimated cash flows | — | 5.6 | — | 0.1 | — | 5.5 | ||||||||||||||||||
Liabilities settled | (3.4 | ) | (2.3 | ) | (1.4 | ) | (0.6 | ) | (2.0 | ) | (1.7 | ) | ||||||||||||
Liabilities incurred | 3.7 | 1.2 | 3.5 | 1.2 | 0.2 | — | ||||||||||||||||||
Accretion expense | 4 | 3.7 | 1.8 | 1.7 | 1.8 | 1.7 | ||||||||||||||||||
Balance, December 31 | $114.00 | $109.70 | $51.80 | $47.90 | $52.40 | $52.40 | ||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||||||||||||||||||||||||||
Carrying Amount and Fair Value of Financial Instruments | Carrying amounts and the related estimated fair values of other financial instruments at December 31 were as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||||||||
Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | $38.60 | $38.60 | $28.00 | $28.00 | $10.60 | $10.60 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 177.2 | 177.2 | 177.2 | 177.2 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,789.70 | 4,418.20 | 1,768.70 | 2,053.00 | 1,573.90 | 1,908.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 200.2 | 200 | 200.2 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 37.6 | 37.6 | 19.5 | 19.5 | 18.1 | 18.1 | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | 26.7 | 26.7 | 21.1 | 21.1 | 5.6 | 5.6 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 203.5 | 203.5 | 203.5 | 203.5 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,336.30 | 3,712.30 | 1,558.40 | 1,726.40 | 1,332.10 | 1,532.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 167 | 200 | 167 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 20.8 | 20.8 | 5.2 | 5.2 | 15.6 | 15.6 | ||||||||||||||||||||||||||
Recurring Fair Value Measurements | Items subject to fair value measurement disclosure requirements at December 31 were as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $38.60 | $— | $2.60 | $36.00 | $26.70 | $— | $4.70 | $22.00 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 4,418.20 | — | 4,414.90 | 3.3 | 3,712.30 | — | 3,711.80 | 0.5 | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 37.6 | — | 19.5 | 18.1 | 20.8 | — | 3.2 | 17.6 | ||||||||||||||||||||||||
IPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $28.00 | $— | $2.40 | $25.60 | $21.10 | $— | $3.00 | $18.10 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 2,053.00 | — | 2,053.00 | — | 1,726.40 | — | 1,726.40 | — | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 19.5 | — | 13.3 | 6.2 | 5.2 | — | 1.7 | 3.5 | ||||||||||||||||||||||||
WPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $10.60 | $— | $0.20 | $10.40 | $5.60 | $— | $1.70 | $3.90 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 1,908.90 | — | 1,908.90 | — | 1,532.90 | — | 1,532.90 | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 18.1 | — | 6.2 | 11.9 | 15.6 | — | 1.5 | 14.1 | ||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs | Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $4.40 | $11.90 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 11.1 | (12.7 | ) | — | — | |||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | — | — | ||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 2 | — | — | ||||||||||||||||||||||||||||
Purchases | 76.7 | 50.9 | — | — | ||||||||||||||||||||||||||||
Sales | (2.2 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (72.1 | ) | (47.8 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $17.90 | $4.40 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($0.4 | ) | ($12.7 | ) | $— | $— | ||||||||||||||||||||||||||
IPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $14.60 | $12.50 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net losses (realized/unrealized) included in changes in net assets | (5.9 | ) | (4.6 | ) | — | — | ||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | — | — | ||||||||||||||||||||||||||||
Purchases | 68.8 | 46.1 | — | — | ||||||||||||||||||||||||||||
Sales | (2.0 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (56.1 | ) | (40.4 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $19.40 | $14.60 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($9.3 | ) | ($4.6 | ) | $— | $— | ||||||||||||||||||||||||||
WPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Beginning balance, January 1 | ($10.2 | ) | ($0.6 | ) | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 17 | (8.1 | ) | |||||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | ||||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | ||||||||||||||||||||||||||||||
Purchases | 7.9 | 4.8 | ||||||||||||||||||||||||||||||
Sales | (0.2 | ) | — | |||||||||||||||||||||||||||||
Settlements | (16.0 | ) | (7.4 | ) | ||||||||||||||||||||||||||||
Ending balance, December 31 | ($1.5 | ) | ($10.2 | ) | ||||||||||||||||||||||||||||
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 | $8.90 | ($8.1 | ) | |||||||||||||||||||||||||||||
(a) | Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(b) | Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(c) | 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 proceeds received from the receivables sold. | |||||||||||||||||||||||||||||||
Fair Value Of Net Derivative Assets (Liabilities) | The fair value of electric, natural gas and coal commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) at December 31 as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Excluding FTRs | FTRs | Excluding FTRs | FTRs | Excluding FTRs | FTRs | |||||||||||||||||||||||||||
2014 | ($7.0 | ) | $24.90 | ($3.2 | ) | $22.60 | ($3.8 | ) | $2.30 | |||||||||||||||||||||||
2013 | (13.9 | ) | 18.3 | (2.1 | ) | 16.7 | (11.8 | ) | 1.6 | |||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||||||||||||||||||||||||||
Carrying Amount and Fair Value of Financial Instruments | Carrying amounts and the related estimated fair values of other financial instruments at December 31 were as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||||||||
Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | $38.60 | $38.60 | $28.00 | $28.00 | $10.60 | $10.60 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 177.2 | 177.2 | 177.2 | 177.2 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,789.70 | 4,418.20 | 1,768.70 | 2,053.00 | 1,573.90 | 1,908.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 200.2 | 200 | 200.2 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 37.6 | 37.6 | 19.5 | 19.5 | 18.1 | 18.1 | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | 26.7 | 26.7 | 21.1 | 21.1 | 5.6 | 5.6 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 203.5 | 203.5 | 203.5 | 203.5 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,336.30 | 3,712.30 | 1,558.40 | 1,726.40 | 1,332.10 | 1,532.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 167 | 200 | 167 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 20.8 | 20.8 | 5.2 | 5.2 | 15.6 | 15.6 | ||||||||||||||||||||||||||
Recurring Fair Value Measurements | Items subject to fair value measurement disclosure requirements at December 31 were as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $38.60 | $— | $2.60 | $36.00 | $26.70 | $— | $4.70 | $22.00 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 4,418.20 | — | 4,414.90 | 3.3 | 3,712.30 | — | 3,711.80 | 0.5 | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 37.6 | — | 19.5 | 18.1 | 20.8 | — | 3.2 | 17.6 | ||||||||||||||||||||||||
IPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $28.00 | $— | $2.40 | $25.60 | $21.10 | $— | $3.00 | $18.10 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 2,053.00 | — | 2,053.00 | — | 1,726.40 | — | 1,726.40 | — | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 19.5 | — | 13.3 | 6.2 | 5.2 | — | 1.7 | 3.5 | ||||||||||||||||||||||||
WPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $10.60 | $— | $0.20 | $10.40 | $5.60 | $— | $1.70 | $3.90 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 1,908.90 | — | 1,908.90 | — | 1,532.90 | — | 1,532.90 | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 18.1 | — | 6.2 | 11.9 | 15.6 | — | 1.5 | 14.1 | ||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs | Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $4.40 | $11.90 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 11.1 | (12.7 | ) | — | — | |||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | — | — | ||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 2 | — | — | ||||||||||||||||||||||||||||
Purchases | 76.7 | 50.9 | — | — | ||||||||||||||||||||||||||||
Sales | (2.2 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (72.1 | ) | (47.8 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $17.90 | $4.40 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($0.4 | ) | ($12.7 | ) | $— | $— | ||||||||||||||||||||||||||
IPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $14.60 | $12.50 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net losses (realized/unrealized) included in changes in net assets | (5.9 | ) | (4.6 | ) | — | — | ||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | — | — | ||||||||||||||||||||||||||||
Purchases | 68.8 | 46.1 | — | — | ||||||||||||||||||||||||||||
Sales | (2.0 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (56.1 | ) | (40.4 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $19.40 | $14.60 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($9.3 | ) | ($4.6 | ) | $— | $— | ||||||||||||||||||||||||||
WPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Beginning balance, January 1 | ($10.2 | ) | ($0.6 | ) | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 17 | (8.1 | ) | |||||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | ||||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | ||||||||||||||||||||||||||||||
Purchases | 7.9 | 4.8 | ||||||||||||||||||||||||||||||
Sales | (0.2 | ) | — | |||||||||||||||||||||||||||||
Settlements | (16.0 | ) | (7.4 | ) | ||||||||||||||||||||||||||||
Ending balance, December 31 | ($1.5 | ) | ($10.2 | ) | ||||||||||||||||||||||||||||
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 | $8.90 | ($8.1 | ) | |||||||||||||||||||||||||||||
(a) | Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(b) | Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(c) | 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 proceeds received from the receivables sold. | |||||||||||||||||||||||||||||||
Fair Value Of Net Derivative Assets (Liabilities) | The fair value of electric, natural gas and coal commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) at December 31 as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Excluding FTRs | FTRs | Excluding FTRs | FTRs | Excluding FTRs | FTRs | |||||||||||||||||||||||||||
2014 | ($7.0 | ) | $24.90 | ($3.2 | ) | $22.60 | ($3.8 | ) | $2.30 | |||||||||||||||||||||||
2013 | (13.9 | ) | 18.3 | (2.1 | ) | 16.7 | (11.8 | ) | 1.6 | |||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||||||||||||||||||||||||||
Carrying Amount and Fair Value of Financial Instruments | Carrying amounts and the related estimated fair values of other financial instruments at December 31 were as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||||||||
Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | $38.60 | $38.60 | $28.00 | $28.00 | $10.60 | $10.60 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 177.2 | 177.2 | 177.2 | 177.2 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,789.70 | 4,418.20 | 1,768.70 | 2,053.00 | 1,573.90 | 1,908.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 200.2 | 200 | 200.2 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 37.6 | 37.6 | 19.5 | 19.5 | 18.1 | 18.1 | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivative assets (Note 15) | 26.7 | 26.7 | 21.1 | 21.1 | 5.6 | 5.6 | ||||||||||||||||||||||||||
Deferred proceeds (sales of receivables) (Note 5(b)) | 203.5 | 203.5 | 203.5 | 203.5 | — | — | ||||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) (Note 9(b)) | 3,336.30 | 3,712.30 | 1,558.40 | 1,726.40 | 1,332.10 | 1,532.90 | ||||||||||||||||||||||||||
Cumulative preferred stock (Note 8) | 200 | 167 | 200 | 167 | — | — | ||||||||||||||||||||||||||
Derivative liabilities (Note 15) | 20.8 | 20.8 | 5.2 | 5.2 | 15.6 | 15.6 | ||||||||||||||||||||||||||
Recurring Fair Value Measurements | Items subject to fair value measurement disclosure requirements at December 31 were as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $38.60 | $— | $2.60 | $36.00 | $26.70 | $— | $4.70 | $22.00 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 4,418.20 | — | 4,414.90 | 3.3 | 3,712.30 | — | 3,711.80 | 0.5 | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 37.6 | — | 19.5 | 18.1 | 20.8 | — | 3.2 | 17.6 | ||||||||||||||||||||||||
IPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $28.00 | $— | $2.40 | $25.60 | $21.10 | $— | $3.00 | $18.10 | ||||||||||||||||||||||||
Deferred proceeds | 177.2 | — | — | 177.2 | 203.5 | — | — | 203.5 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 2,053.00 | — | 2,053.00 | — | 1,726.40 | — | 1,726.40 | — | ||||||||||||||||||||||||
Cumulative preferred stock | 200.2 | 200.2 | — | — | 167 | 167 | — | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 19.5 | — | 13.3 | 6.2 | 5.2 | — | 1.7 | 3.5 | ||||||||||||||||||||||||
WPL | 2014 | 2013 | ||||||||||||||||||||||||||||||
Fair | Level | Level | Level | Fair | Level | Level | Level | |||||||||||||||||||||||||
Value | 1 | 2 | 3 | Value | 1 | 2 | 3 | |||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Derivatives - commodity contracts | $10.60 | $— | $0.20 | $10.40 | $5.60 | $— | $1.70 | $3.90 | ||||||||||||||||||||||||
Capitalization and liabilities: | ||||||||||||||||||||||||||||||||
Long-term debt (including current maturities) | 1,908.90 | — | 1,908.90 | — | 1,532.90 | — | 1,532.90 | — | ||||||||||||||||||||||||
Derivatives - commodity contracts | 18.1 | — | 6.2 | 11.9 | 15.6 | — | 1.5 | 14.1 | ||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs | Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $4.40 | $11.90 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 11.1 | (12.7 | ) | — | — | |||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | — | — | ||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 2 | — | — | ||||||||||||||||||||||||||||
Purchases | 76.7 | 50.9 | — | — | ||||||||||||||||||||||||||||
Sales | (2.2 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (72.1 | ) | (47.8 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $17.90 | $4.40 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($0.4 | ) | ($12.7 | ) | $— | $— | ||||||||||||||||||||||||||
IPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Beginning balance, January 1 | $14.60 | $12.50 | $203.50 | $66.80 | ||||||||||||||||||||||||||||
Total net losses (realized/unrealized) included in changes in net assets | (5.9 | ) | (4.6 | ) | — | — | ||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | — | — | ||||||||||||||||||||||||||||
Purchases | 68.8 | 46.1 | — | — | ||||||||||||||||||||||||||||
Sales | (2.0 | ) | — | — | — | |||||||||||||||||||||||||||
Settlements (c) | (56.1 | ) | (40.4 | ) | (26.3 | ) | 136.7 | |||||||||||||||||||||||||
Ending balance, December 31 | $19.40 | $14.60 | $177.20 | $203.50 | ||||||||||||||||||||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 | ($9.3 | ) | ($4.6 | ) | $— | $— | ||||||||||||||||||||||||||
WPL | Commodity Contract Derivative | |||||||||||||||||||||||||||||||
Assets and (Liabilities), net | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Beginning balance, January 1 | ($10.2 | ) | ($0.6 | ) | ||||||||||||||||||||||||||||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 17 | (8.1 | ) | |||||||||||||||||||||||||||||
Transfers into Level 3 (a) | — | 0.1 | ||||||||||||||||||||||||||||||
Transfers out of Level 3 (b) | — | 1 | ||||||||||||||||||||||||||||||
Purchases | 7.9 | 4.8 | ||||||||||||||||||||||||||||||
Sales | (0.2 | ) | — | |||||||||||||||||||||||||||||
Settlements | (16.0 | ) | (7.4 | ) | ||||||||||||||||||||||||||||
Ending balance, December 31 | ($1.5 | ) | ($10.2 | ) | ||||||||||||||||||||||||||||
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 | $8.90 | ($8.1 | ) | |||||||||||||||||||||||||||||
(a) | Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(b) | Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period. | |||||||||||||||||||||||||||||||
(c) | 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 proceeds received from the receivables sold. | |||||||||||||||||||||||||||||||
Fair Value Of Net Derivative Assets (Liabilities) | The fair value of electric, natural gas and coal commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) at December 31 as follows (in millions): | |||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||
Excluding FTRs | FTRs | Excluding FTRs | FTRs | Excluding FTRs | FTRs | |||||||||||||||||||||||||||
2014 | ($7.0 | ) | $24.90 | ($3.2 | ) | $22.60 | ($3.8 | ) | $2.30 | |||||||||||||||||||||||
2013 | (13.9 | ) | 18.3 | (2.1 | ) | 16.7 | (11.8 | ) | 1.6 | |||||||||||||||||||||||
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||
Notional Amounts of Derivative Instruments | As of December 31, 2014, gross notional amounts by delivery year related to outstanding swap contracts, option contracts, physical forward contracts, FTRs and coal contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): | |||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 4,067 | 1,553 | 1,314 | 1,314 | 8,248 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 9,505 | — | — | — | 9,505 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 56,250 | 20,225 | 1,829 | — | 78,304 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,490 | 1,899 | 1,073 | 1,113 | 5,575 | |||||||||||||||||||||||||||||||
IPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 1,765 | — | — | — | 1,765 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 5,503 | — | — | — | 5,503 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 39,727 | 10,178 | 1,014 | — | 50,919 | |||||||||||||||||||||||||||||||
Coal (tons) | 75 | 830 | 274 | 387 | 1,566 | |||||||||||||||||||||||||||||||
WPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 2,302 | 1,553 | 1,314 | 1,314 | 6,483 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 4,002 | — | — | — | 4,002 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 16,523 | 10,047 | 815 | — | 27,385 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,415 | 1,069 | 799 | 726 | 4,009 | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | At December 31, the fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other liabilities” on the balance sheets as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Commodity contracts | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||
Current derivative assets | $30.50 | $25.60 | $27.40 | $20.20 | $3.10 | $5.40 | ||||||||||||||||||||||||||||||
Non-current derivative assets | 8.1 | 1.1 | 0.6 | 0.9 | 7.5 | 0.2 | ||||||||||||||||||||||||||||||
Current derivative liabilities | 28.1 | 6.7 | 16.4 | 3 | 11.7 | 3.7 | ||||||||||||||||||||||||||||||
Non-current derivative liabilities | 9.5 | 14.1 | 3.1 | 2.2 | 6.4 | 11.9 | ||||||||||||||||||||||||||||||
Gains and Losses from Derivative Instruments Not Designated as Hedging Instruments | Changes in unrealized gains (losses) from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Regulatory assets | ($13.8 | ) | ($14.7 | ) | ($37.9 | ) | ($5.8 | ) | ($6.6 | ) | ($16.8 | ) | ($8.0 | ) | ($8.1 | ) | ($21.1 | ) | ||||||||||||||||||
Regulatory liabilities | 37.4 | 22.2 | 20.3 | 10.2 | 11.8 | 13.5 | 27.2 | 10.4 | 6.8 | |||||||||||||||||||||||||||
Credit Risk Related Contingent Features | At December 31, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position, as well as amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered, were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||||||||||||||
Aggregate fair value | $37.60 | $19.50 | $18.10 | $20.80 | $5.20 | $15.60 | ||||||||||||||||||||||||||||||
Credit support to be posted if triggered | 37.4 | 19.5 | 17.9 | 20.8 | 5.2 | 15.6 | ||||||||||||||||||||||||||||||
Balance Sheet Offsetting | The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets at December 31 as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||||||||||||||||||
(as reported) | Net | (as reported) | Net | (as reported) | Net | |||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||||||
Derivative assets | $38.60 | $33.00 | $28.00 | $24.70 | $10.60 | $8.30 | ||||||||||||||||||||||||||||||
Derivative liabilities | 37.6 | 32 | 19.5 | 16.2 | 18.1 | 15.8 | ||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Derivative assets | 26.7 | 23.5 | 21.1 | 19.5 | 5.6 | 4 | ||||||||||||||||||||||||||||||
Derivative liabilities | 20.8 | 17.6 | 5.2 | 3.6 | 15.6 | 14 | ||||||||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||
Notional Amounts of Derivative Instruments | As of December 31, 2014, gross notional amounts by delivery year related to outstanding swap contracts, option contracts, physical forward contracts, FTRs and coal contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): | |||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 4,067 | 1,553 | 1,314 | 1,314 | 8,248 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 9,505 | — | — | — | 9,505 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 56,250 | 20,225 | 1,829 | — | 78,304 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,490 | 1,899 | 1,073 | 1,113 | 5,575 | |||||||||||||||||||||||||||||||
IPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 1,765 | — | — | — | 1,765 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 5,503 | — | — | — | 5,503 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 39,727 | 10,178 | 1,014 | — | 50,919 | |||||||||||||||||||||||||||||||
Coal (tons) | 75 | 830 | 274 | 387 | 1,566 | |||||||||||||||||||||||||||||||
WPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 2,302 | 1,553 | 1,314 | 1,314 | 6,483 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 4,002 | — | — | — | 4,002 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 16,523 | 10,047 | 815 | — | 27,385 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,415 | 1,069 | 799 | 726 | 4,009 | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | At December 31, the fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other liabilities” on the balance sheets as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Commodity contracts | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||
Current derivative assets | $30.50 | $25.60 | $27.40 | $20.20 | $3.10 | $5.40 | ||||||||||||||||||||||||||||||
Non-current derivative assets | 8.1 | 1.1 | 0.6 | 0.9 | 7.5 | 0.2 | ||||||||||||||||||||||||||||||
Current derivative liabilities | 28.1 | 6.7 | 16.4 | 3 | 11.7 | 3.7 | ||||||||||||||||||||||||||||||
Non-current derivative liabilities | 9.5 | 14.1 | 3.1 | 2.2 | 6.4 | 11.9 | ||||||||||||||||||||||||||||||
Gains and Losses from Derivative Instruments Not Designated as Hedging Instruments | Changes in unrealized gains (losses) from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Regulatory assets | ($13.8 | ) | ($14.7 | ) | ($37.9 | ) | ($5.8 | ) | ($6.6 | ) | ($16.8 | ) | ($8.0 | ) | ($8.1 | ) | ($21.1 | ) | ||||||||||||||||||
Regulatory liabilities | 37.4 | 22.2 | 20.3 | 10.2 | 11.8 | 13.5 | 27.2 | 10.4 | 6.8 | |||||||||||||||||||||||||||
Credit Risk Related Contingent Features | At December 31, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position, as well as amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered, were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||||||||||||||
Aggregate fair value | $37.60 | $19.50 | $18.10 | $20.80 | $5.20 | $15.60 | ||||||||||||||||||||||||||||||
Credit support to be posted if triggered | 37.4 | 19.5 | 17.9 | 20.8 | 5.2 | 15.6 | ||||||||||||||||||||||||||||||
Balance Sheet Offsetting | The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets at December 31 as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||||||||||||||||||
(as reported) | Net | (as reported) | Net | (as reported) | Net | |||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||||||
Derivative assets | $38.60 | $33.00 | $28.00 | $24.70 | $10.60 | $8.30 | ||||||||||||||||||||||||||||||
Derivative liabilities | 37.6 | 32 | 19.5 | 16.2 | 18.1 | 15.8 | ||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Derivative assets | 26.7 | 23.5 | 21.1 | 19.5 | 5.6 | 4 | ||||||||||||||||||||||||||||||
Derivative liabilities | 20.8 | 17.6 | 5.2 | 3.6 | 15.6 | 14 | ||||||||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||
Notional Amounts of Derivative Instruments | As of December 31, 2014, gross notional amounts by delivery year related to outstanding swap contracts, option contracts, physical forward contracts, FTRs and coal contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): | |||||||||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||||||||||||||||||
Alliant Energy | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 4,067 | 1,553 | 1,314 | 1,314 | 8,248 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 9,505 | — | — | — | 9,505 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 56,250 | 20,225 | 1,829 | — | 78,304 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,490 | 1,899 | 1,073 | 1,113 | 5,575 | |||||||||||||||||||||||||||||||
IPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 1,765 | — | — | — | 1,765 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 5,503 | — | — | — | 5,503 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 39,727 | 10,178 | 1,014 | — | 50,919 | |||||||||||||||||||||||||||||||
Coal (tons) | 75 | 830 | 274 | 387 | 1,566 | |||||||||||||||||||||||||||||||
WPL | ||||||||||||||||||||||||||||||||||||
Electricity (MWhs) | 2,302 | 1,553 | 1,314 | 1,314 | 6,483 | |||||||||||||||||||||||||||||||
FTRs (MWhs) | 4,002 | — | — | — | 4,002 | |||||||||||||||||||||||||||||||
Natural gas (Dths) | 16,523 | 10,047 | 815 | — | 27,385 | |||||||||||||||||||||||||||||||
Coal (tons) | 1,415 | 1,069 | 799 | 726 | 4,009 | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | At December 31, the fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other liabilities” on the balance sheets as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Commodity contracts | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||
Current derivative assets | $30.50 | $25.60 | $27.40 | $20.20 | $3.10 | $5.40 | ||||||||||||||||||||||||||||||
Non-current derivative assets | 8.1 | 1.1 | 0.6 | 0.9 | 7.5 | 0.2 | ||||||||||||||||||||||||||||||
Current derivative liabilities | 28.1 | 6.7 | 16.4 | 3 | 11.7 | 3.7 | ||||||||||||||||||||||||||||||
Non-current derivative liabilities | 9.5 | 14.1 | 3.1 | 2.2 | 6.4 | 11.9 | ||||||||||||||||||||||||||||||
Gains and Losses from Derivative Instruments Not Designated as Hedging Instruments | Changes in unrealized gains (losses) from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Regulatory assets | ($13.8 | ) | ($14.7 | ) | ($37.9 | ) | ($5.8 | ) | ($6.6 | ) | ($16.8 | ) | ($8.0 | ) | ($8.1 | ) | ($21.1 | ) | ||||||||||||||||||
Regulatory liabilities | 37.4 | 22.2 | 20.3 | 10.2 | 11.8 | 13.5 | 27.2 | 10.4 | 6.8 | |||||||||||||||||||||||||||
Credit Risk Related Contingent Features | At December 31, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position, as well as amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered, were as follows (in millions): | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |||||||||||||||||||||||||||||||
Aggregate fair value | $37.60 | $19.50 | $18.10 | $20.80 | $5.20 | $15.60 | ||||||||||||||||||||||||||||||
Credit support to be posted if triggered | 37.4 | 19.5 | 17.9 | 20.8 | 5.2 | 15.6 | ||||||||||||||||||||||||||||||
Balance Sheet Offsetting | The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets at December 31 as follows (in millions): | |||||||||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||||||||||||||||||
(as reported) | Net | (as reported) | Net | (as reported) | Net | |||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||||||
Derivative assets | $38.60 | $33.00 | $28.00 | $24.70 | $10.60 | $8.30 | ||||||||||||||||||||||||||||||
Derivative liabilities | 37.6 | 32 | 19.5 | 16.2 | 18.1 | 15.8 | ||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Derivative assets | 26.7 | 23.5 | 21.1 | 19.5 | 5.6 | 4 | ||||||||||||||||||||||||||||||
Derivative liabilities | 20.8 | 17.6 | 5.2 | 3.6 | 15.6 | 14 | ||||||||||||||||||||||||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Long-term Purchase Commitment [Line Items] | ||||||||||||||||||||||||||||
Operating Expense Purchase Obligations | At December 31, 2014, minimum future commitments related to these operating expense purchase obligations were as follows (in millions): | |||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (IPL) (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | 74 | 46 | 44 | 44 | — | — | 208 | |||||||||||||||||||||
193 | 171 | 182 | 175 | 143 | 882 | 1,746 | ||||||||||||||||||||||
Natural gas | 175 | 69 | 23 | 5 | 2 | 4 | 278 | |||||||||||||||||||||
Coal (c) | 124 | 78 | 47 | 34 | 8 | — | 291 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 10 | 1 | — | — | — | — | 11 | |||||||||||||||||||||
$514 | $333 | $260 | $214 | $153 | $886 | $2,360 | ||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | — | 1 | — | — | — | — | 1 | |||||||||||||||||||||
119 | 126 | 138 | 131 | 143 | 882 | 1,539 | ||||||||||||||||||||||
Natural gas | 108 | 32 | 5 | 2 | 2 | 4 | 153 | |||||||||||||||||||||
Coal (c) | 61 | 35 | 20 | 11 | — | — | 127 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 6 | — | — | — | — | — | 6 | |||||||||||||||||||||
$306 | $207 | $171 | $144 | $145 | $886 | $1,859 | ||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a) | $74 | $45 | $44 | $44 | $— | $— | $207 | |||||||||||||||||||||
Natural gas | 67 | 37 | 18 | 3 | — | — | 125 | |||||||||||||||||||||
Coal (c) | 63 | 43 | 27 | 23 | 8 | — | 164 | |||||||||||||||||||||
Other (e) | 2 | 1 | — | — | — | — | 3 | |||||||||||||||||||||
$206 | $126 | $89 | $70 | $8 | $— | $499 | ||||||||||||||||||||||
(a) | Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Refer to Note 18 for additional information on purchased power transactions. | |||||||||||||||||||||||||||
(b) | Includes commitments incurred under a PPA, which grants IPL rights to purchase up to 431 MWs of capacity and the resulting energy from DAEC for a term through December 31, 2025. If energy delivered is less than the targeted energy amount, an adjustment payment will be made to IPL, which will be reflected in IPL’s fuel adjustment clause. | |||||||||||||||||||||||||||
(c) | 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, 2014 regarding expected future usage, which is subject to change. | |||||||||||||||||||||||||||
(d) | Refer to Note 2 for discussion of $34 million of charges recognized by Alliant Energy and IPL in 2011 for forward contracts to purchase SO2 emission allowances. | |||||||||||||||||||||||||||
(e) | Includes individual commitments incurred during the normal course of business that exceeded $1 million at December 31, 2014. | |||||||||||||||||||||||||||
Schedule of Environmental Liabilities | At December 31, 2014, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, were as follows (in millions): | |||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
Range of estimated future costs | $12 | - | $31 | $11 | - | $29 | $1 | - | $2 | |||||||||||||||||||
Current and non-current environmental liabilities | 16 | 14 | 2 | |||||||||||||||||||||||||
At December 31, current environmental liabilities were included in “Other current liabilities” and non-current environmental liabilities were included in “Other liabilities” on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||
Current environmental liabilities | $2.00 | $3.60 | $1.70 | $2.80 | $0.30 | $0.80 | ||||||||||||||||||||||
Non-current environmental liabilities | 13.5 | 15.4 | 11.9 | 13.6 | 1.6 | 1.7 | ||||||||||||||||||||||
$15.50 | $19.00 | $13.60 | $16.40 | $1.90 | $2.50 | |||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||
Long-term Purchase Commitment [Line Items] | ||||||||||||||||||||||||||||
Operating Expense Purchase Obligations | At December 31, 2014, minimum future commitments related to these operating expense purchase obligations were as follows (in millions): | |||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (IPL) (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | 74 | 46 | 44 | 44 | — | — | 208 | |||||||||||||||||||||
193 | 171 | 182 | 175 | 143 | 882 | 1,746 | ||||||||||||||||||||||
Natural gas | 175 | 69 | 23 | 5 | 2 | 4 | 278 | |||||||||||||||||||||
Coal (c) | 124 | 78 | 47 | 34 | 8 | — | 291 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 10 | 1 | — | — | — | — | 11 | |||||||||||||||||||||
$514 | $333 | $260 | $214 | $153 | $886 | $2,360 | ||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | — | 1 | — | — | — | — | 1 | |||||||||||||||||||||
119 | 126 | 138 | 131 | 143 | 882 | 1,539 | ||||||||||||||||||||||
Natural gas | 108 | 32 | 5 | 2 | 2 | 4 | 153 | |||||||||||||||||||||
Coal (c) | 61 | 35 | 20 | 11 | — | — | 127 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 6 | — | — | — | — | — | 6 | |||||||||||||||||||||
$306 | $207 | $171 | $144 | $145 | $886 | $1,859 | ||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a) | $74 | $45 | $44 | $44 | $— | $— | $207 | |||||||||||||||||||||
Natural gas | 67 | 37 | 18 | 3 | — | — | 125 | |||||||||||||||||||||
Coal (c) | 63 | 43 | 27 | 23 | 8 | — | 164 | |||||||||||||||||||||
Other (e) | 2 | 1 | — | — | — | — | 3 | |||||||||||||||||||||
$206 | $126 | $89 | $70 | $8 | $— | $499 | ||||||||||||||||||||||
(a) | Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Refer to Note 18 for additional information on purchased power transactions. | |||||||||||||||||||||||||||
(b) | Includes commitments incurred under a PPA, which grants IPL rights to purchase up to 431 MWs of capacity and the resulting energy from DAEC for a term through December 31, 2025. If energy delivered is less than the targeted energy amount, an adjustment payment will be made to IPL, which will be reflected in IPL’s fuel adjustment clause. | |||||||||||||||||||||||||||
(c) | 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, 2014 regarding expected future usage, which is subject to change. | |||||||||||||||||||||||||||
(d) | Refer to Note 2 for discussion of $34 million of charges recognized by Alliant Energy and IPL in 2011 for forward contracts to purchase SO2 emission allowances. | |||||||||||||||||||||||||||
(e) | Includes individual commitments incurred during the normal course of business that exceeded $1 million at December 31, 2014. | |||||||||||||||||||||||||||
Schedule of Environmental Liabilities | At December 31, 2014, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, were as follows (in millions): | |||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
Range of estimated future costs | $12 | - | $31 | $11 | - | $29 | $1 | - | $2 | |||||||||||||||||||
Current and non-current environmental liabilities | 16 | 14 | 2 | |||||||||||||||||||||||||
At December 31, current environmental liabilities were included in “Other current liabilities” and non-current environmental liabilities were included in “Other liabilities” on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||
Current environmental liabilities | $2.00 | $3.60 | $1.70 | $2.80 | $0.30 | $0.80 | ||||||||||||||||||||||
Non-current environmental liabilities | 13.5 | 15.4 | 11.9 | 13.6 | 1.6 | 1.7 | ||||||||||||||||||||||
$15.50 | $19.00 | $13.60 | $16.40 | $1.90 | $2.50 | |||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||
Long-term Purchase Commitment [Line Items] | ||||||||||||||||||||||||||||
Operating Expense Purchase Obligations | At December 31, 2014, minimum future commitments related to these operating expense purchase obligations were as follows (in millions): | |||||||||||||||||||||||||||
Alliant Energy | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (IPL) (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | 74 | 46 | 44 | 44 | — | — | 208 | |||||||||||||||||||||
193 | 171 | 182 | 175 | 143 | 882 | 1,746 | ||||||||||||||||||||||
Natural gas | 175 | 69 | 23 | 5 | 2 | 4 | 278 | |||||||||||||||||||||
Coal (c) | 124 | 78 | 47 | 34 | 8 | — | 291 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 10 | 1 | — | — | — | — | 11 | |||||||||||||||||||||
$514 | $333 | $260 | $214 | $153 | $886 | $2,360 | ||||||||||||||||||||||
IPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a): | ||||||||||||||||||||||||||||
DAEC (b) | $119 | $125 | $138 | $131 | $143 | $882 | $1,538 | |||||||||||||||||||||
Other | — | 1 | — | — | — | — | 1 | |||||||||||||||||||||
119 | 126 | 138 | 131 | 143 | 882 | 1,539 | ||||||||||||||||||||||
Natural gas | 108 | 32 | 5 | 2 | 2 | 4 | 153 | |||||||||||||||||||||
Coal (c) | 61 | 35 | 20 | 11 | — | — | 127 | |||||||||||||||||||||
SO2 emission allowances (d) | 12 | 14 | 8 | — | — | — | 34 | |||||||||||||||||||||
Other (e) | 6 | — | — | — | — | — | 6 | |||||||||||||||||||||
$306 | $207 | $171 | $144 | $145 | $886 | $1,859 | ||||||||||||||||||||||
WPL | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||
Purchased power (a) | $74 | $45 | $44 | $44 | $— | $— | $207 | |||||||||||||||||||||
Natural gas | 67 | 37 | 18 | 3 | — | — | 125 | |||||||||||||||||||||
Coal (c) | 63 | 43 | 27 | 23 | 8 | — | 164 | |||||||||||||||||||||
Other (e) | 2 | 1 | — | — | — | — | 3 | |||||||||||||||||||||
$206 | $126 | $89 | $70 | $8 | $— | $499 | ||||||||||||||||||||||
(a) | Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Refer to Note 18 for additional information on purchased power transactions. | |||||||||||||||||||||||||||
(b) | Includes commitments incurred under a PPA, which grants IPL rights to purchase up to 431 MWs of capacity and the resulting energy from DAEC for a term through December 31, 2025. If energy delivered is less than the targeted energy amount, an adjustment payment will be made to IPL, which will be reflected in IPL’s fuel adjustment clause. | |||||||||||||||||||||||||||
(c) | 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, 2014 regarding expected future usage, which is subject to change. | |||||||||||||||||||||||||||
(d) | Refer to Note 2 for discussion of $34 million of charges recognized by Alliant Energy and IPL in 2011 for forward contracts to purchase SO2 emission allowances. | |||||||||||||||||||||||||||
(e) | Includes individual commitments incurred during the normal course of business that exceeded $1 million at December 31, 2014. | |||||||||||||||||||||||||||
Schedule of Environmental Liabilities | At December 31, 2014, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, were as follows (in millions): | |||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
Range of estimated future costs | $12 | - | $31 | $11 | - | $29 | $1 | - | $2 | |||||||||||||||||||
Current and non-current environmental liabilities | 16 | 14 | 2 | |||||||||||||||||||||||||
At December 31, current environmental liabilities were included in “Other current liabilities” and non-current environmental liabilities were included in “Other liabilities” on the balance sheets as follows (in millions): | ||||||||||||||||||||||||||||
Alliant Energy | IPL | WPL | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||
Current environmental liabilities | $2.00 | $3.60 | $1.70 | $2.80 | $0.30 | $0.80 | ||||||||||||||||||||||
Non-current environmental liabilities | 13.5 | 15.4 | 11.9 | 13.6 | 1.6 | 1.7 | ||||||||||||||||||||||
$15.50 | $19.00 | $13.60 | $16.40 | $1.90 | $2.50 | |||||||||||||||||||||||
Segments_Of_Business_Tables
Segments Of Business (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||
Schedule of Segments of Business | Certain financial information relating to Alliant Energy’s business segments, products and services and geographic information was as follows (in millions): | |||||||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,713.60 | $517.50 | $66.10 | $3,297.20 | $53.10 | $3,350.30 | ||||||||||||||||||
Depreciation and amortization | 347 | 29.9 | 1.8 | 378.7 | 9.4 | 388.1 | ||||||||||||||||||
Operating income | 442.4 | 53.8 | 14 | 510.2 | 33.4 | 543.6 | ||||||||||||||||||
Interest expense | 176.3 | 4.3 | 180.6 | |||||||||||||||||||||
Equity income from unconsolidated investments, net | (42.8 | ) | — | — | (42.8 | ) | 2.4 | (40.4 | ) | |||||||||||||||
Income taxes | 33.9 | 10.4 | 44.3 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 364.5 | 18.6 | 383.1 | |||||||||||||||||||||
Total assets | 9,660.40 | 913.5 | 1,016.10 | 11,590.00 | 495.9 | 12,085.90 | ||||||||||||||||||
Investments in equity method subsidiaries | 294.3 | — | — | 294.3 | 2.3 | 296.6 | ||||||||||||||||||
Construction and acquisition expenditures | 774.8 | 63.2 | 0.9 | 838.9 | 63.9 | 902.8 | ||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2013 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,689.00 | $464.80 | $71.30 | $3,225.10 | $51.70 | $3,276.80 | ||||||||||||||||||
Depreciation and amortization | 333 | 28.8 | 1.5 | 363.3 | 7.6 | 370.9 | ||||||||||||||||||
Operating income | 444.5 | 57.3 | 6.3 | 508.1 | 25.8 | 533.9 | ||||||||||||||||||
Interest expense | 166.3 | 6.5 | 172.8 | |||||||||||||||||||||
Equity income from unconsolidated investments, net | (43.7 | ) | — | — | (43.7 | ) | — | (43.7 | ) | |||||||||||||||
Income taxes | 49.3 | 4.6 | 53.9 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 349.5 | 8.8 | 358.3 | |||||||||||||||||||||
Total assets | 9,018.60 | 859.3 | 732.5 | 10,610.40 | 502 | 11,112.40 | ||||||||||||||||||
Investments in equity method subsidiaries | 279.1 | — | — | 279.1 | 2.3 | 281.4 | ||||||||||||||||||
Construction and acquisition expenditures | 677.3 | 47 | 7.3 | 731.6 | 66.7 | 798.3 | ||||||||||||||||||
Utility | Non-Regulated, | Alliant Energy | ||||||||||||||||||||||
2012 | Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
Operating revenues | $2,589.30 | $396.30 | $56.70 | $3,042.30 | $52.20 | $3,094.50 | ||||||||||||||||||
Depreciation and amortization | 299.3 | 29.1 | 1.4 | 329.8 | 2.6 | 332.4 | ||||||||||||||||||
Operating income | 426.2 | 51.5 | 7.4 | 485.1 | 34.6 | 519.7 | ||||||||||||||||||
Interest expense | 158.7 | (2.0 | ) | 156.7 | ||||||||||||||||||||
Equity (income) loss from unconsolidated investments, net | (42.1 | ) | — | — | (42.1 | ) | 0.8 | (41.3 | ) | |||||||||||||||
Income taxes | 74.8 | 14.6 | 89.4 | |||||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 300 | 19.8 | 319.8 | |||||||||||||||||||||
Total assets | 8,438.80 | 814.8 | 966 | 10,219.60 | 565.9 | 10,785.50 | ||||||||||||||||||
Investments in equity method subsidiaries | 264.3 | — | — | 264.3 | 2.3 | 266.6 | ||||||||||||||||||
Construction and acquisition expenditures | 994 | 31.4 | 0.1 | 1,025.50 | 132.6 | 1,158.10 | ||||||||||||||||||
Schedule of Products and Services | Alliant Energy’s consolidated operating revenues by segment, which were substantially all related to services, were as follows: | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Utility electric operations | 81 | % | 82 | % | 84 | % | ||||||||||||||||||
Utility gas operations | 15 | % | 14 | % | 13 | % | ||||||||||||||||||
Utility other | 2 | % | 2 | % | 2 | % | ||||||||||||||||||
Other | 2 | % | 2 | % | 1 | % | ||||||||||||||||||
100 | % | 100 | % | 100 | % | |||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||
Schedule of Segments of Business | Certain financial information relating to IPL’s business segments was as follows (in millions): | |||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,493.30 | $296.50 | $58.30 | $1,848.10 | ||||||||||||||||||||
Depreciation and amortization | 178.7 | 17 | 1.8 | 197.5 | ||||||||||||||||||||
Operating income | 166.8 | 25.7 | 16.7 | 209.2 | ||||||||||||||||||||
Interest expense | 89.9 | |||||||||||||||||||||||
Income tax benefit | (51.7 | ) | ||||||||||||||||||||||
Earnings available for common stock | 184.4 | |||||||||||||||||||||||
Total assets | 5,398.30 | 544.1 | 519.4 | 6,461.80 | ||||||||||||||||||||
Construction and acquisition expenditures | 490 | 35.1 | 0.9 | 526 | ||||||||||||||||||||
2013 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,491.80 | $273.90 | $53.10 | $1,818.80 | ||||||||||||||||||||
Depreciation and amortization | 173.1 | 16.5 | 1.5 | 191.1 | ||||||||||||||||||||
Operating income | 173.1 | 29.8 | 9.1 | 212 | ||||||||||||||||||||
Interest expense | 81.3 | |||||||||||||||||||||||
Income tax benefit | (37.9 | ) | ||||||||||||||||||||||
Earnings available for common stock | 173.6 | |||||||||||||||||||||||
Total assets | 4,905.30 | 518.8 | 381.9 | 5,806.00 | ||||||||||||||||||||
Construction and acquisition expenditures | 365.4 | 27.5 | 7.3 | 400.2 | ||||||||||||||||||||
2012 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,371.10 | $226.70 | $52.50 | $1,650.30 | ||||||||||||||||||||
Depreciation and amortization | 171.2 | 16.3 | 1.4 | 188.9 | ||||||||||||||||||||
Operating income | 166.2 | 24.2 | 9.9 | 200.3 | ||||||||||||||||||||
Interest expense | 78.5 | |||||||||||||||||||||||
Income tax benefit | (19.8 | ) | ||||||||||||||||||||||
Earnings available for common stock | 137.6 | |||||||||||||||||||||||
Total assets | 4,500.90 | 479.5 | 476.6 | 5,457.00 | ||||||||||||||||||||
Construction and acquisition expenditures | 291 | 16.4 | 0.1 | 307.5 | ||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||
Schedule of Segments of Business | Certain financial information relating to WPL’s business segments was as follows (in millions): | |||||||||||||||||||||||
2014 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,220.30 | $221.00 | $7.80 | $1,449.10 | ||||||||||||||||||||
Depreciation and amortization | 168.3 | 12.9 | — | 181.2 | ||||||||||||||||||||
Operating income (loss) | 275.6 | 28.1 | (2.7 | ) | 301 | |||||||||||||||||||
Interest expense | 86.4 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (42.8 | ) | — | — | (42.8 | ) | ||||||||||||||||||
Income taxes | 85.6 | |||||||||||||||||||||||
Earnings available for common stock | 180.1 | |||||||||||||||||||||||
Total assets | 4,262.10 | 369.4 | 496.7 | 5,128.20 | ||||||||||||||||||||
Investments in equity method subsidiaries | 294.3 | — | — | 294.3 | ||||||||||||||||||||
Construction and acquisition expenditures | 284.8 | 28.1 | — | 312.9 | ||||||||||||||||||||
2013 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,197.20 | $190.90 | $18.20 | $1,406.30 | ||||||||||||||||||||
Depreciation and amortization | 159.9 | 12.3 | — | 172.2 | ||||||||||||||||||||
Operating income (loss) | 271.4 | 27.5 | (2.8 | ) | 296.1 | |||||||||||||||||||
Interest expense | 85 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (43.7 | ) | — | — | (43.7 | ) | ||||||||||||||||||
Income taxes | 87.2 | |||||||||||||||||||||||
Earnings available for common stock | 175.9 | |||||||||||||||||||||||
Total assets | 4,113.30 | 340.5 | 350.6 | 4,804.40 | ||||||||||||||||||||
Investments in equity method subsidiaries | 279.1 | — | — | 279.1 | ||||||||||||||||||||
Construction and acquisition expenditures | 311.9 | 19.5 | — | 331.4 | ||||||||||||||||||||
2012 | Electric | Gas | Other | Total | ||||||||||||||||||||
Operating revenues | $1,218.20 | $169.60 | $4.20 | $1,392.00 | ||||||||||||||||||||
Depreciation and amortization | 128.1 | 12.8 | — | 140.9 | ||||||||||||||||||||
Operating income (loss) | 260 | 27.3 | (2.5 | ) | 284.8 | |||||||||||||||||||
Interest expense | 80.2 | |||||||||||||||||||||||
Equity income from unconsolidated investments | (42.1 | ) | — | — | (42.1 | ) | ||||||||||||||||||
Income taxes | 94.6 | |||||||||||||||||||||||
Earnings available for common stock | 162.4 | |||||||||||||||||||||||
Total assets | 3,937.90 | 335.3 | 489.4 | 4,762.60 | ||||||||||||||||||||
Investments in equity method subsidiaries | 264.3 | — | — | 264.3 | ||||||||||||||||||||
Construction and acquisition expenditures | 703 | 15 | — | 718 | ||||||||||||||||||||
Related_Parties_Tables
Related Parties (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||
Services Provided, Sales Credited And Purchases Billed | The amounts billed for services provided, sales credited and purchases were as follows (in millions): | |||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Corporate Services billings | $148 | $140 | $129 | $116 | $103 | $102 | ||||||||||||||||||
Sales credited | 8 | 7 | 10 | 6 | 12 | 14 | ||||||||||||||||||
Purchases billed | 422 | 365 | 301 | 125 | 68 | 61 | ||||||||||||||||||
Net Intercompany Payables | As of December 31, net intercompany payables to Corporate Services were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
IPL | $84 | $62 | ||||||||||||||||||||||
WPL | 58 | 46 | ||||||||||||||||||||||
Related Amounts Billed Between Parties | The related amounts billed between the parties were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
ATC billings to WPL | $96 | $96 | $90 | |||||||||||||||||||||
WPL billings to ATC | 9 | 12 | 11 | |||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||
Services Provided, Sales Credited And Purchases Billed | The amounts billed for services provided, sales credited and purchases were as follows (in millions): | |||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Corporate Services billings | $148 | $140 | $129 | $116 | $103 | $102 | ||||||||||||||||||
Sales credited | 8 | 7 | 10 | 6 | 12 | 14 | ||||||||||||||||||
Purchases billed | 422 | 365 | 301 | 125 | 68 | 61 | ||||||||||||||||||
Net Intercompany Payables | As of December 31, net intercompany payables to Corporate Services were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
IPL | $84 | $62 | ||||||||||||||||||||||
WPL | 58 | 46 | ||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||||
Services Provided, Sales Credited And Purchases Billed | The amounts billed for services provided, sales credited and purchases were as follows (in millions): | |||||||||||||||||||||||
IPL | WPL | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Corporate Services billings | $148 | $140 | $129 | $116 | $103 | $102 | ||||||||||||||||||
Sales credited | 8 | 7 | 10 | 6 | 12 | 14 | ||||||||||||||||||
Purchases billed | 422 | 365 | 301 | 125 | 68 | 61 | ||||||||||||||||||
Net Intercompany Payables | As of December 31, net intercompany payables to Corporate Services were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
IPL | $84 | $62 | ||||||||||||||||||||||
WPL | 58 | 46 | ||||||||||||||||||||||
Related Amounts Billed Between Parties | The related amounts billed between the parties were as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
ATC billings to WPL | $96 | $96 | $90 | |||||||||||||||||||||
WPL billings to ATC | 9 | 12 | 11 | |||||||||||||||||||||
Discontinued_Operations_and_As1
Discontinued Operations and Assets and Liabilities Held For Sale (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
Components Of Discontinued Operations In Consolidated Statements Of Income | A summary of the components of discontinued operations in Alliant Energy’s income statements was as follows (in millions): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Operating revenues | $— | $0.90 | $289.20 | |||||||||
Operating expenses | 3.7 | 9.9 | 297 | |||||||||
Interest expense and other | — | — | 0.7 | |||||||||
Loss before income taxes | (3.7 | ) | (9.0 | ) | (8.5 | ) | ||||||
Income tax benefit | (1.3 | ) | (3.1 | ) | (3.4 | ) | ||||||
Loss from discontinued operations, net of tax | ($2.4 | ) | ($5.9 | ) | ($5.1 | ) | ||||||
Assets and Liabilities Held For Sale on Consolidated Balance Sheets | As of December 31, 2014, Alliant Energy’s and IPL’s balance sheets included assets held for sale recorded in “Other current assets” and liabilities held for sale recorded in “Other current liabilities” as follows (in millions): | |||||||||||
Assets held for sale: | ||||||||||||
Current assets | $1.10 | |||||||||||
Property, plant and equipment, net | 11 | |||||||||||
Other assets | 7 | |||||||||||
Total assets held for sale | 19.1 | |||||||||||
Liabilities held for sale: | ||||||||||||
Current liabilities | 1 | |||||||||||
Other liabilities | 7.1 | |||||||||||
Total liabilities held for sale | 8.1 | |||||||||||
Net assets held for sale | $11.00 | |||||||||||
IPL [Member] | ||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
Assets and Liabilities Held For Sale on Consolidated Balance Sheets | As of December 31, 2014, Alliant Energy’s and IPL’s balance sheets included assets held for sale recorded in “Other current assets” and liabilities held for sale recorded in “Other current liabilities” as follows (in millions): | |||||||||||
Assets held for sale: | ||||||||||||
Current assets | $1.10 | |||||||||||
Property, plant and equipment, net | 11 | |||||||||||
Other assets | 7 | |||||||||||
Total assets held for sale | 19.1 | |||||||||||
Liabilities held for sale: | ||||||||||||
Current liabilities | 1 | |||||||||||
Other liabilities | 7.1 | |||||||||||
Total liabilities held for sale | 8.1 | |||||||||||
Net assets held for sale | $11.00 | |||||||||||
Selected_Consolidated_Quarterl1
Selected Consolidated Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Components Of Selected Consolidated Quarterly Financial Data | All “per share” references refer to earnings per diluted share. Summation of the individual quarters may not equal annual totals due to rounding. Refer to Note 19 for additional information on discontinued operations. | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions, except per share data) | ||||||||||||||||||||||||||||||||
Operating revenues | $952.80 | $750.30 | $843.10 | $804.10 | $859.60 | $718.00 | $866.60 | $832.60 | ||||||||||||||||||||||||
Operating income | 154.2 | 103.3 | 194.8 | 91.3 | 120.7 | 103.2 | 201.4 | 108.6 | ||||||||||||||||||||||||
Amounts attributable to Alliant Energy common shareowners: | ||||||||||||||||||||||||||||||||
Income from continuing operations, net of tax | 108 | 62.1 | 155.2 | 60.2 | 72.9 | 65.9 | 158.9 | 66.5 | ||||||||||||||||||||||||
Loss from discontinued operations, net of tax | — | (0.3 | ) | (1.9 | ) | (0.2 | ) | (3.0 | ) | (0.6 | ) | (1.3 | ) | (1.0 | ) | |||||||||||||||||
Net income | 108 | 61.8 | 153.3 | 60 | 69.9 | 65.3 | 157.6 | 65.5 | ||||||||||||||||||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners: | ||||||||||||||||||||||||||||||||
Income from continuing operations, net of tax | 0.97 | 0.56 | 1.4 | 0.54 | 0.66 | 0.59 | 1.43 | 0.6 | ||||||||||||||||||||||||
Loss from discontinued operations, net of tax | — | — | (0.02 | ) | — | (0.03 | ) | — | (0.01 | ) | (0.01 | ) | ||||||||||||||||||||
Net income | 0.97 | 0.56 | 1.38 | 0.54 | 0.63 | 0.59 | 1.42 | 0.59 | ||||||||||||||||||||||||
IPL [Member] | ||||||||||||||||||||||||||||||||
Components Of Selected Consolidated Quarterly Financial Data | Earnings per share data is not disclosed for IPL given Alliant Energy is the sole shareowner of all shares of IPL’s common stock outstanding during the periods presented. | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Operating revenues | $528.90 | $411.90 | $476.20 | $431.10 | $477.90 | $383.40 | $494.40 | $463.10 | ||||||||||||||||||||||||
Operating income | 57.5 | 34 | 93.9 | 23.8 | 41.1 | 34.7 | 100 | 36.2 | ||||||||||||||||||||||||
Net income | 46 | 20.9 | 105.1 | 22.6 | 31.5 | 24.7 | 112.6 | 21.1 | ||||||||||||||||||||||||
Earnings available for common stock | 43.4 | 18.4 | 102.5 | 20.1 | 22.9 | 22.2 | 110 | 18.5 | ||||||||||||||||||||||||
WPL [Member] | ||||||||||||||||||||||||||||||||
Components Of Selected Consolidated Quarterly Financial Data | Earnings per share data is not disclosed for WPL given Alliant Energy is the sole shareowner of all shares of WPL’s common stock outstanding during the periods presented. | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
31-Mar | 30-Jun | Sep. 30 | Dec. 31 | 31-Mar | 30-Jun | Sep. 30 | Dec. 31 | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Operating revenues | $410.40 | $324.50 | $354.40 | $359.80 | $369.80 | $319.90 | $360.90 | $355.70 | ||||||||||||||||||||||||
Operating income | 87.7 | 60 | 93.9 | 59.4 | 72.7 | 59.7 | 95.9 | 67.8 | ||||||||||||||||||||||||
Net income | 54.8 | 34.6 | 61.6 | 29.8 | 43.6 | 34.4 | 61.3 | 38.2 | ||||||||||||||||||||||||
Earnings available for common stock | 54.8 | 34.6 | 61.6 | 29.1 | 42 | 34.4 | 61.3 | 38.2 | ||||||||||||||||||||||||
Condensed_Parent_Company_Finan1
Condensed Parent Company Financial Statements (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||||||
Condensed Statements of Income | ALLIANT ENERGY CORPORATION | |||||||||||
(Parent Company Only) | ||||||||||||
CONDENSED STATEMENTS OF INCOME | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in millions) | ||||||||||||
Operating revenues | $2 | $2 | $2 | |||||||||
Operating expenses | 3 | 1 | 1 | |||||||||
Operating income (loss) | (1 | ) | 1 | 1 | ||||||||
Interest expense and other: | ||||||||||||
Equity earnings from consolidated subsidiaries | (387 | ) | (362 | ) | (322 | ) | ||||||
Interest expense | 9 | 11 | 11 | |||||||||
Interest income | (2 | ) | (2 | ) | (4 | ) | ||||||
Total interest expense and other | (380 | ) | (353 | ) | (315 | ) | ||||||
Income before income taxes | 379 | 354 | 316 | |||||||||
Income tax benefit | (4 | ) | (4 | ) | (4 | ) | ||||||
Net income | $383 | $358 | $320 | |||||||||
The accompanying Notes to Condensed Financial Statements are an integral part of these statements. | ||||||||||||
Condensed Balance Sheets | ALLIANT ENERGY CORPORATION | |||||||||||
(Parent Company Only) | ||||||||||||
CONDENSED BALANCE SHEETS | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
(in millions) | ||||||||||||
ASSETS | ||||||||||||
Current assets: | ||||||||||||
Notes receivable from affiliated companies | $95 | $72 | ||||||||||
Other | 4 | 3 | ||||||||||
99 | 75 | |||||||||||
Investments: | ||||||||||||
Investments in consolidated subsidiaries | 3,753 | 3,585 | ||||||||||
Other | 15 | 14 | ||||||||||
3,768 | 3,599 | |||||||||||
Other assets | 10 | 6 | ||||||||||
Total assets | $3,877 | $3,680 | ||||||||||
The accompanying Notes to Condensed Financial Statements are an integral part of these statements. | ||||||||||||
ALLIANT ENERGY CORPORATION | ||||||||||||
(Parent Company Only) | ||||||||||||
CONDENSED BALANCE SHEETS (continued) | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
(in millions) | ||||||||||||
LIABILITIES AND EQUITY | ||||||||||||
Current liabilities: | ||||||||||||
Current maturities of long-term debt | $— | $250 | ||||||||||
Commercial paper | 141 | 96 | ||||||||||
Other | 29 | 10 | ||||||||||
170 | 356 | |||||||||||
Long-term debt, net | 250 | — | ||||||||||
Other liabilities: | ||||||||||||
Deferred income taxes | 11 | 39 | ||||||||||
Other | 11 | 7 | ||||||||||
22 | 46 | |||||||||||
Common equity: | ||||||||||||
Common stock and additional paid-in capital | 1,510 | 1,509 | ||||||||||
Retained earnings | 1,934 | 1,777 | ||||||||||
Shares in deferred compensation trust | (9 | ) | (8 | ) | ||||||||
3,435 | 3,278 | |||||||||||
Total liabilities and equity | $3,877 | $3,680 | ||||||||||
The accompanying Notes to Condensed Financial Statements are an integral part of these statements. | ||||||||||||
Condensed Statements of Cash Flows | ALLIANT ENERGY CORPORATION | |||||||||||
(Parent Company Only) | ||||||||||||
CONDENSED STATEMENTS OF CASH FLOWS | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in millions) | ||||||||||||
Net cash flows from operating activities | $246 | $238 | $260 | |||||||||
Cash flows used for investing activities: | ||||||||||||
Capital contributions to consolidated subsidiaries | (90 | ) | (120 | ) | (230 | ) | ||||||
Capital repayments from consolidated subsidiaries | 50 | 95 | — | |||||||||
Net change in notes receivable from affiliates | (23 | ) | 5 | 134 | ||||||||
Other | — | (2 | ) | 1 | ||||||||
Net cash flows used for investing activities | (63 | ) | (22 | ) | (95 | ) | ||||||
Cash flows used for financing activities: | ||||||||||||
Common stock dividends | (226 | ) | (208 | ) | (199 | ) | ||||||
Proceeds from issuance of long-term debt | 250 | — | — | |||||||||
Payments to retire long-term debt | (250 | ) | — | — | ||||||||
Net change in commercial paper | 45 | (9 | ) | 35 | ||||||||
Other | (2 | ) | 1 | (1 | ) | |||||||
Net cash flows used for financing activities | (183 | ) | (216 | ) | (165 | ) | ||||||
Net decrease in cash and cash equivalents | — | — | — | |||||||||
Cash and cash equivalents at beginning of period | — | — | — | |||||||||
Cash and cash equivalents at end of period | $— | $— | $— | |||||||||
Supplemental cash flows information: | ||||||||||||
Cash (paid) refunded during the period for: | ||||||||||||
Interest, net of capitalized interest | ($11 | ) | ($13 | ) | ($11 | ) | ||||||
Income taxes, net | (5 | ) | (7 | ) | 29 | |||||||
The accompanying Notes to Condensed Financial Statements are an integral part of these statements. |
Summary_Of_Significant_Account3
Summary Of Significant Accounting Policies (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
customer | |
IPL [Member] | |
General: | |
Generation and distribution of steam, number of customers served (in customers) | 2 |
Property, Plant and Equipment: | |
Accrual recorded, percentage of estimated CWIP | 100.00% |
Operating Revenues: | |
Estimated recovery of overaccrued operating revenue, reflected on customer billing, maximum period | 2 years |
WPL [Member] | |
Property, Plant and Equipment: | |
Accrual recorded, percentage of estimated CWIP | 50.00% |
Recovery rates, projects with approval | 100.00% |
Operating Revenues: | |
Final settlement recovery of overaccrued operating revenue, reflected on customer billing, maximum period | 2 years |
Sheboygan Falls Energy Facility [Member] | |
General: | |
Fossil-fueled EGU capacity (in megawatts) | 347 |
Capital lease, lease term | 20 years |
Franklin County Wind Project [Member] | |
General: | |
Wind EGU capacity (in megawatts) | 99 |
Summary_Of_Significant_Account4
Summary Of Significant Accounting Policies (Schedule Of Average Rates Of Depreciation) (Details) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Electric - generation [Member] | IPL [Member] | ||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||
Average rate of depreciation | 3.60% | 3.60% | 3.70% | |
Electric - generation [Member] | WPL [Member] | ||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||
Average rate of depreciation | 3.20% | 3.30% | [1] | 3.20% |
Electric - distribution [Member] | IPL [Member] | ||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||
Average rate of depreciation | 2.50% | 2.50% | 2.50% | |
Electric - distribution [Member] | WPL [Member] | ||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||
Average rate of depreciation | 2.70% | 2.70% | [1] | 2.90% |
Gas [Member] | IPL [Member] | ||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||
Average rate of depreciation | 3.30% | 3.40% | 3.40% | |
Gas [Member] | WPL [Member] | ||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||
Average rate of depreciation | 2.50% | 2.50% | [1] | 2.60% |
Other [Member] | IPL [Member] | ||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||
Average rate of depreciation | 4.20% | 4.40% | 4.50% | |
Other [Member] | WPL [Member] | ||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||
Average rate of depreciation | 6.00% | 5.10% | [1] | 5.30% |
[1] | In 2012, the PSCW issued an order approving the implementation of updated depreciation rates for WPL effective January 1, 2013 as a result of a recently completed depreciation study. In 2013, the PSCW and FERC issued orders approving WPLbs requests to revise depreciation rates associated with the acquisition of Riverside effective January 1, 2013. |
Summary_Of_Significant_Account5
Summary Of Significant Accounting Policies (Schedule Of Allowance For Funds Used During Construction Recovery Rate) (Details) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
IPL [Member] | IPL (FERC formula - Marshalltown CWIP) [Member] | ||||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||||
Recovery rates | 8.00% | [1] | 0.00% | [1] | 0.00% | [1] |
IPL [Member] | IPL (FERC formula - other CWIP) [Member] | ||||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||||
Recovery rates | 7.80% | 8.20% | 8.20% | |||
IPL [Member] | Marshalltown Generating Station [Member] | ||||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||||
Return on common equity for calculation of AFUDC | 10.30% | |||||
WPL [Member] | WPL (PSCW formula - retail jurisdiction) [Member] | ||||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||||
Recovery rates | 8.20% | 8.20% | 8.80% | |||
WPL [Member] | WPL (FERC formula - wholesale jurisdiction) [Member] | ||||||
Public Utility, Property, Plant and Equipment [Line Items] | ||||||
Recovery rates | 4.10% | 4.50% | 7.90% | |||
[1] | In 2013, the IUB issued an order establishing rate-making principles for Marshalltown that requires a 10.3% return on common equity for the calculation of AFUDC related to the construction of such facility. |
Regulatory_Matters_Narrative_D
Regulatory Matters (Narrative) (Details) (USD $) | 12 Months Ended | 8 Months Ended | 60 Months Ended | 1 Months Ended | 12 Months Ended | 36 Months Ended | |||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 28, 2010 | Dec. 31, 2014 | Jan. 31, 2013 | Jun. 30, 2012 | Dec. 31, 2007 | Dec. 31, 2011 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | |
Regulatory Matters [Line Items] | |||||||||||||
Minimum future commitments | $2,360 | ||||||||||||
Increase in regulatory assets | 439.8 | -140.5 | 178.1 | ||||||||||
Increase (decrease) in regulatory liabilities | 10.8 | -90.8 | 16.4 | ||||||||||
Electric revenues | 2,713.60 | 2,689 | 2,589.30 | ||||||||||
Regulatory liabilities | 821.2 | 821.5 | 821.2 | ||||||||||
Gas revenues | 517.5 | 464.8 | 396.3 | ||||||||||
IPL's electric transmission assets sale [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Regulatory liabilities | 11.3 | 21.6 | 11.3 | ||||||||||
IPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Regulatory assets not earning a return | 26 | 26 | |||||||||||
Period for simple average of actual costs incurred during test year | 2 years | ||||||||||||
Minimum future commitments | 1,859 | ||||||||||||
Increase in regulatory assets | 272.9 | -71.4 | 129 | ||||||||||
Number of tax accounting method changes (number of changes) | 2 | ||||||||||||
Increase (decrease) in regulatory liabilities | -18.9 | -82.3 | -12.1 | ||||||||||
Electric revenues | 1,493.30 | 1,491.80 | 1,371.10 | ||||||||||
Regulatory liabilities | 583.5 | 614.9 | 583.5 | ||||||||||
Gas revenues | 296.5 | 273.9 | 226.7 | ||||||||||
Billing credits to reduce retail electric customers' bills | 72 | ||||||||||||
IPL [Member] | IPL's electric transmission assets sale [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Increase (decrease) in regulatory liabilities | -8 | 41 | |||||||||||
Reduction of Iowa retail electric customers' rates | 12 | ||||||||||||
Regulatory liabilities | 11.3 | 21.6 | 11.3 | ||||||||||
Regulatory liability amortization period | 5 years | ||||||||||||
IPL [Member] | 2011 Test Year Retail Gas IA, Request [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Authorized increase (decrease) in final rates, amount | 11 | ||||||||||||
Period after commencement of rate case proceeding | 12 months | ||||||||||||
Authorized increase (decrease) in interim rates, amount | 9 | ||||||||||||
Authorized increase (decrease) in interim rates, percent | 3.00% | ||||||||||||
Authorized increase (decrease) in final rates, percent | 4.00% | ||||||||||||
WPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Regulatory assets not earning a return | 10 | 10 | |||||||||||
Minimum future commitments | 499 | ||||||||||||
Increase in regulatory assets | 166.9 | -69.1 | 49.1 | ||||||||||
Expenditure collection period after new rate implementation | 5 years | ||||||||||||
Increase (decrease) in regulatory liabilities | 29.7 | -8.5 | 28.5 | ||||||||||
Electric revenues | 1,220.30 | 1,197.20 | 1,218.20 | ||||||||||
Regulatory liabilities | 237.7 | 206.6 | 237.7 | ||||||||||
Gas revenues | 221 | 190.9 | 169.6 | ||||||||||
WPL [Member] | 2013/2014 Test Period Retail Electric And Gas Final Order [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Authorized increase (decrease) in final rates, amount | 13 | ||||||||||||
WPL [Member] | 2014 Test Year Retail Electric Fuel Related Request [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Authorized increase (decrease) in final rates, amount | 19 | ||||||||||||
Authorized increase (decrease) in final rates, percent | 2.00% | ||||||||||||
Annual bandwidth for fuel-related costs | 2.00% | ||||||||||||
WPL [Member] | 2013 Test Year Retail Electric Fuel Related Request [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Authorized increase (decrease) in final rates, amount | 29 | ||||||||||||
Authorized increase (decrease) in final rates, percent | 3.00% | ||||||||||||
Annual bandwidth for fuel-related costs | 2.00% | ||||||||||||
WPL [Member] | 2012 Test Year Retail Electric Fuel Related Request Final Order [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Authorized increase (decrease) in final rates, amount | 4 | ||||||||||||
Annual bandwidth for fuel-related costs | 2.00% | ||||||||||||
Over-collection of fuel-related costs | 17 | ||||||||||||
Over-collection of fuel-related costs outside of approved range | 11 | ||||||||||||
Authorized refund to customers, including interest | 12 | ||||||||||||
WPL [Member] | WPL's Edgewater Unit 5 Purchase [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Ownership interest % | 25.00% | 25.00% | |||||||||||
Alliant Energy and IPL [Member] | Tax accounting method changes [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Increase (decrease) in regulatory liabilities | 75 | ||||||||||||
Alliant Energy and IPL [Member] | Revenue Requirement Adjustment [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Electric revenues | 15 | 24 | |||||||||||
Alliant Energy and IPL [Member] | 2011 Test Year Retail Gas IA, Request [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Gas revenues | 5 | ||||||||||||
Alliant Energy and WPL [Member] | Deferral [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Regulatory liabilities | 9 | 9 | |||||||||||
Alliant Energy and WPL [Member] | 2013/2014 Test Period Retail Electric And Gas Final Order [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Increase in regulatory assets | 5 | ||||||||||||
Credit to utility other operation and maintenance | 5 | ||||||||||||
SO2 emission allowances [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Minimum future commitments | 34 | [1] | |||||||||||
SO2 emission allowances [Member] | IPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Minimum future commitments | 34 | [1] | 34 | ||||||||||
SO2 emission allowances [Member] | Alliant Energy and IPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Minimum future commitments | 34 | ||||||||||||
Increase in regulatory assets | 30 | ||||||||||||
Scenario, Forecast [Member] | IPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Billing credits to reduce retail electric customers' bills | 10 | 25 | 105 | ||||||||||
Scenario, Forecast [Member] | Alliant Energy and IPL [Member] | Revenue Requirement Adjustment [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Electric revenues | 15 | ||||||||||||
Electric [Member] | Alliant Energy and IPL [Member] | IPL's tax benefit riders [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Increase (decrease) in regulatory liabilities | -85 | -79 | -83 | ||||||||||
Electric [Member] | Scenario, Forecast [Member] | Alliant Energy and IPL [Member] | IPL's tax benefit riders [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Increase (decrease) in regulatory liabilities | -75 | ||||||||||||
Gas [Member] | IPL's tax benefit riders [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Increase (decrease) in regulatory liabilities | -12 | ||||||||||||
Gas [Member] | IPL [Member] | 2011 Test Year Retail Gas IA, Request [Member] | IPL's tax benefit riders [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Authorized increase (decrease) in final rates, amount | 36 | ||||||||||||
Gas tax benefit rider term | 3 years | ||||||||||||
Gas [Member] | Alliant Energy and IPL [Member] | IPL's tax benefit riders [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Increase (decrease) in regulatory liabilities | -12 | -11 | |||||||||||
2014 Test Year Retail Electric Fuel Related Request [Member] | Alliant Energy and WPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Over-collection of fuel-related costs | 33 | ||||||||||||
Over-collection of fuel-related costs outside of approved range | 28 | 28 | |||||||||||
2015/2016 Test Period Retail Electric And Gas [Member] | Scenario, Forecast [Member] | WPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Authorized increase (decrease) in final rates, amount | -5 | ||||||||||||
2015 Test Year Retail Electric Fuel Related Request [Member] | Scenario, Forecast [Member] | WPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Authorized increase (decrease) in final rates, amount | 39 | ||||||||||||
Authorized increase (decrease) in final rates, percent | 4.00% | ||||||||||||
Annual bandwidth for fuel-related costs | 2.00% | ||||||||||||
Fuel [Member] | Scenario, Forecast [Member] | WPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Retail electric fuel-related cots | 25 | ||||||||||||
Sales [Member] | Scenario, Forecast [Member] | WPL [Member] | |||||||||||||
Regulatory Matters [Line Items] | |||||||||||||
Retail electric fuel-related cots | $14 | ||||||||||||
[1] | Refer to Note 2 for discussion of $34 million of charges recognized by Alliant Energy and IPL in 2011 for forward contracts to purchase SO2 emission allowances. |
Regulatory_Matters_Regulatory_
Regulatory Matters (Regulatory Assets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $1,783.70 | $1,413.20 |
Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 955.3 | 829.7 |
Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 570.2 | 355.3 |
AROs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 73.7 | 65.7 |
Derivatives [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 46.9 | 21.1 |
Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 31.1 | 2 |
Emission allowances [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 27.4 | 30 |
Debt redemption costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 16.1 | 17.9 |
Environmental-related costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 16 | 25 |
Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 47 | 66.5 |
IPL [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 1,357.90 | 1,113.50 |
IPL [Member] | Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 928 | 798.6 |
IPL [Member] | Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 287.9 | 174.2 |
IPL [Member] | AROs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 41.4 | 36.7 |
IPL [Member] | Derivatives [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 28 | 5.9 |
IPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 0.4 | 0.7 |
IPL [Member] | Emission allowances [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 27.4 | 30 |
IPL [Member] | Debt redemption costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 10.9 | 12.2 |
IPL [Member] | Environmental-related costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 11.5 | 21 |
IPL [Member] | Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 22.4 | 34.2 |
WPL [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 425.8 | 299.7 |
WPL [Member] | Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 27.3 | 31.1 |
WPL [Member] | Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 282.3 | 181.1 |
WPL [Member] | AROs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 32.3 | 29 |
WPL [Member] | Derivatives [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 18.9 | 15.2 |
WPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 30.7 | 1.3 |
WPL [Member] | Debt redemption costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 5.2 | 5.7 |
WPL [Member] | Environmental-related costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 4.5 | 4 |
WPL [Member] | Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $24.60 | $32.30 |
Regulatory_Matters_Regulatory_1
Regulatory Matters (Regulatory Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $821.20 | $821.50 |
Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 421.7 | 418.9 |
IPL's tax benefit riders [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 243 | 265.4 |
Energy efficiency cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 64.3 | 52.7 |
IPL's electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 19.4 | 14.6 |
Commodity cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 15.4 | 7.5 |
IPL's electric transmission assets sale [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 11.3 | 21.6 |
Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 46.1 | 40.8 |
IPL [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 583.5 | 614.9 |
IPL [Member] | Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 279.1 | 277.7 |
IPL [Member] | IPL's tax benefit riders [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 243 | 265.4 |
IPL [Member] | Energy efficiency cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 9.3 |
IPL [Member] | IPL's electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 19.4 | 14.6 |
IPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 15.1 | 5.5 |
IPL [Member] | IPL's electric transmission assets sale [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 11.3 | 21.6 |
IPL [Member] | Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 15.6 | 20.8 |
WPL [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 237.7 | 206.6 |
WPL [Member] | Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 142.6 | 141.2 |
WPL [Member] | Energy efficiency cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 64.3 | 43.4 |
WPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0.3 | 2 |
WPL [Member] | Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $30.50 | $20 |
Regulatory_Matters_IPLs_Tax_Be
Regulatory Matters (IPL's Tax Benefit Riders) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Regulatory Assets [Line Items] | |||
Increase (decrease) in regulatory liabilities | $10.80 | ($90.80) | $16.40 |
Alliant Energy and IPL [Member] | Electric tax benefit rider credits [Member] | |||
Regulatory Assets [Line Items] | |||
Increase (decrease) in regulatory liabilities | -85 | ||
Alliant Energy and IPL [Member] | Gas tax benefit rider credits [Member] | |||
Regulatory Assets [Line Items] | |||
Increase (decrease) in regulatory liabilities | -12 | ||
Alliant Energy and IPL [Member] | Tax accounting method changes [Member] | |||
Regulatory Assets [Line Items] | |||
Increase (decrease) in regulatory liabilities | 75 | ||
Alliant Energy and IPL [Member] | IPL's tax benefit riders [Member] | |||
Regulatory Assets [Line Items] | |||
Increase (decrease) in regulatory liabilities | ($22) |
Regulatory_Matters_Electric_Ta
Regulatory Matters (Electric Tax Benefit Rider) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Regulatory Liabilities [Line Items] | |||
Increase (decrease) in regulatory liabilities | $10.80 | ($90.80) | $16.40 |
Income tax expense (benefit) | 44.3 | 53.9 | 89.4 |
Alliant Energy and IPL [Member] | Electric [Member] | IPL's tax benefit riders [Member] | |||
Regulatory Liabilities [Line Items] | |||
Increase (decrease) in regulatory liabilities | -85 | -79 | -83 |
Income tax expense (benefit) | -50 | -46 | -48 |
Alliant Energy and IPL [Member] | Electric [Member] | IPL's Tax Benefit Rider Decrease In Taxable Income [Member] | |||
Regulatory Liabilities [Line Items] | |||
Income tax expense (benefit) | ($35) | ($33) | ($35) |
Regulatory_Matters_Revenue_Req
Regulatory Matters (Revenue Requirement Adjustment) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Regulatory Liabilities [Line Items] | |||
Electric revenues | $2,713.60 | $2,689 | $2,589.30 |
Alliant Energy and IPL [Member] | Revenue Requirement Adjustment [Member] | |||
Regulatory Liabilities [Line Items] | |||
Electric revenues | $15 | $24 |
Regulatory_Matters_Gas_Tax_Ben
Regulatory Matters (Gas Tax Benefit Rider) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Regulatory Liabilities [Line Items] | |||
Increase (decrease) in regulatory liabilities | $10.80 | ($90.80) | $16.40 |
Income tax expense (benefit) | 44.3 | 53.9 | 89.4 |
Gas [Member] | IPL's tax benefit riders [Member] | |||
Regulatory Liabilities [Line Items] | |||
Increase (decrease) in regulatory liabilities | -12 | ||
Alliant Energy and IPL [Member] | Gas [Member] | IPL's tax benefit riders [Member] | |||
Regulatory Liabilities [Line Items] | |||
Increase (decrease) in regulatory liabilities | -12 | -11 | |
Income tax expense (benefit) | -7 | -7 | |
Alliant Energy and IPL [Member] | Gas [Member] | IPL's Tax Benefit Rider Decrease In Taxable Income [Member] | |||
Regulatory Liabilities [Line Items] | |||
Income tax expense (benefit) | ($5) | ($4) |
Regulatory_Matters_Customer_Bi
Regulatory Matters (Customer Billing Credits) (Details) (IPL [Member], USD $) | 12 Months Ended | 36 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 |
Regulatory Liabilities [Line Items] | ||||
Billing credits to reduce retail electric customers' bills | $72 | |||
Scenario, Forecast [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Billing credits to reduce retail electric customers' bills | 10 | 25 | 105 | |
Target [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Billing credits to reduce retail electric customers' bills | $70 |
Property_Plant_and_Equipment_N
Property, Plant and Equipment (Narrative) (Details) (USD $) | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2015 | ||
Property, Plant and Equipment [Line Items] | |||||||
Allowance for funds used during construction | $34.80 | $30.80 | $21.90 | ||||
Construction work in progress | 479.1 | 677.9 | |||||
Non-regulated Generation, net | 240.1 | [1] | 249.4 | [1] | |||
Corporate Services and other, net | 269.4 | [2] | 229.6 | [2] | |||
Minimum [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Property, plant and equipment, useful life | 5 years | ||||||
Maximum [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Property, plant and equipment, useful life | 30 years | ||||||
IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Allowance for funds used during construction | 25.9 | 21 | 8.4 | ||||
Construction work in progress | 325 | 346.4 | |||||
Wholesale power supply agreement termination notice term | 5 years | ||||||
Wholesale power supply agreement term | 10 years | ||||||
WPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Allowance for funds used during construction | 8.9 | 9.8 | 13.5 | ||||
Construction work in progress | 154.1 | 331.5 | |||||
Franklin County Wind Project [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Property, plant and equipment, useful life | 30 years | ||||||
Non-regulated Generation, net | 137 | ||||||
Sheboygan Falls Energy Facility [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Property, plant and equipment, useful life | 35 years | ||||||
Non-regulated Generation, net | 103 | ||||||
Whispering Willow - East Wind Project [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Electric plant in service | 7 | ||||||
Whispering Willow - East Wind Project [Member] | IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Disallowance of project costs | 8 | ||||||
Whispering Willow - East Wind Project [Member] | Alliant Energy and IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Asset impairment charges | 8 | ||||||
George Neal Unit 3 [Member] | IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Ownership interest % | 28.00% | ||||||
George Neal Unit 3 [Member] | Alliant Energy and IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Electric plant in service | 60 | ||||||
Allowance for funds used during construction | 4 | ||||||
Columbia Units 1 and 2 [Member] | WPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Ownership interest % | 46.20% | ||||||
Columbia Units 1 and 2 [Member] | Alliant Energy and WPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Electric plant in service | 272 | ||||||
Allowance for funds used during construction | 15 | ||||||
IPL (FERC formula) [Member] | IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Authorized return on common equity | 10.97% | ||||||
Edgewater Unit 5 [Member] | Alliant Energy and WPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Allowance for funds used during construction | 3 | ||||||
Construction work in progress | 90 | ||||||
Marshalltown Generating Station [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Fossil-fueled EGU capacity (in megawatts) | 650 | ||||||
Marshalltown Generating Station [Member] | IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Allowance for funds used during construction | 3.7 | 0 | 0 | ||||
Marshalltown Generating Station [Member] | Alliant Energy and IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Allowance for funds used during construction | 4 | ||||||
Construction work in progress | 188 | ||||||
Minnesota [Member] | Whispering Willow - East Wind Project [Member] | IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Project costs allocated by jurisdiction | 30 | ||||||
Ottumwa Unit 1 [Member] | IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Ownership interest % | 48.00% | ||||||
Ottumwa Unit 1 [Member] | Alliant Energy and IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Electric plant in service | 154 | ||||||
Allowance for funds used during construction | 21 | ||||||
Electric - distribution [Member] | Scenario, Forecast [Member] | IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Expected proceeds from assets sales | 130 | ||||||
Gas - distribution [Member] | Scenario, Forecast [Member] | IPL [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Expected proceeds from assets sales | 10 | ||||||
Customer Billing And Information System [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Capitalized interest | 1 | ||||||
Corporate Services and other, net | $62 | ||||||
[1] | Less accumulated depreciation of $49.5 million and $40.0 million for Alliant Energy as of DecemberB 31, 2014 and 2013, respectively. | ||||||
[2] | Less accumulated depreciation of $229.1 million and $214.2 million for Alliant Energy as of DecemberB 31, 2014 and 2013, respectively. |
Property_Plant_and_Equipment_P
Property, Plant and Equipment (Property, Plant and Equipment) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Property, Plant and Equipment [Line Items] | ||||
Electric plant anticipated to be retired early | 157.6 | [1] | $157.80 | [1] |
Total electric plant | 10,365.10 | 9,415.70 | ||
Gas plant in service | 946.2 | 909.9 | ||
Other plant in service | 539.3 | 547.9 | ||
Accumulated depreciation | -3,923.10 | -3,726.20 | ||
Net plant | 7,927.50 | 7,147.30 | ||
Construction work in progress | 479.1 | 677.9 | ||
Other, net | 22.3 | 22.3 | ||
Total utility | 8,428.90 | 7,847.50 | ||
Non-regulated Generation, net | 240.1 | [2] | 249.4 | [2] |
Corporate Services and other, net | 269.4 | [3] | 229.6 | [3] |
Total non-regulated and other | 509.5 | 479 | ||
Total property, plant and equipment | 8,938.40 | 8,326.50 | ||
Non-regulated Generation, accumulated depreciation | 49.5 | 40 | ||
Corporate Services and other, accumulated depreciation | 229.1 | 214.2 | ||
Generation [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant in service | 5,463 | [4] | 4,792 | [4] |
Electric - distribution [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant in service | 4,435.40 | 4,179.60 | ||
Other [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant in service | 309.1 | 286.3 | ||
IPL [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant anticipated to be retired early | 0 | [1] | 0 | [1] |
Total electric plant | 5,559.60 | 5,034.90 | ||
Gas plant in service | 474 | 456.8 | ||
Other plant in service | 298.8 | 302.8 | ||
Accumulated depreciation | -2,124.50 | -2,025.30 | ||
Net plant | 4,207.90 | 3,769.20 | ||
Construction work in progress | 325 | 346.4 | ||
Other, net | 21.8 | 21.2 | ||
Total utility | 4,554.70 | 4,136.80 | ||
Total property, plant and equipment | 4,554.70 | 4,136.80 | ||
IPL [Member] | Generation [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant in service | 2,872.40 | [4] | 2,513.20 | [4] |
IPL [Member] | Electric - distribution [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant in service | 2,471.70 | 2,311.20 | ||
IPL [Member] | Other [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant in service | 215.5 | 210.5 | ||
WPL [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant anticipated to be retired early | 157.6 | [1] | 157.8 | [1] |
Total electric plant | 4,805.50 | 4,380.80 | ||
Gas plant in service | 472.2 | 453.1 | ||
Other plant in service | 240.5 | 245.1 | ||
Accumulated depreciation | -1,798.60 | -1,700.90 | ||
Net plant | 3,719.60 | 3,378.10 | ||
Leased Sheboygan Falls Energy Facility, net | 64.7 | [5] | 70.9 | [5] |
Construction work in progress | 154.1 | 331.5 | ||
Other, net | 0.5 | 1.1 | ||
Total utility | 3,938.90 | 3,781.60 | ||
Total property, plant and equipment | 3,938.90 | 3,781.60 | ||
Leased Sheboygan Falls Energy Facility, accumulated depreciation | 59.1 | 52.9 | ||
WPL [Member] | Generation [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant in service | 2,590.60 | [4] | 2,278.80 | [4] |
WPL [Member] | Electric - distribution [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant in service | 1,963.70 | 1,868.40 | ||
WPL [Member] | Other [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Electric plant in service | 93.6 | $75.80 | ||
WPL [Member] | Edgewater Unit 3 and Nelson Dewey Units 1 and 2 [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, useful life | 10 years | |||
[1] | In 2013, WPL received approval from MISO to retire Edgewater Unit 3, and Nelson Dewey Units 1 and 2. WPL currently anticipates retiring these EGUs by December 31, 2015, contingent on completion of transmission network upgrades needed for system reliability. WPL is recovering the remaining net book value of these EGUs over a 10-year period beginning January 1, 2013 pursuant to a May 2012 PSCW order. | |||
[2] | Less accumulated depreciation of $49.5 million and $40.0 million for Alliant Energy as of DecemberB 31, 2014 and 2013, respectively. | |||
[3] | Less accumulated depreciation of $229.1 million and $214.2 million for Alliant Energy as of DecemberB 31, 2014 and 2013, respectively. | |||
[4] | Includes various emission controls projects placed in service in 2014, which are discussed in bEmission Controls Projectsb below. | |||
[5] | Less accumulated amortization of $59.1 million and $52.9 million for WPL as of DecemberB 31, 2014 and 2013, respectively. |
Property_Plant_and_Equipment_E
Property, Plant and Equipment (Equity and Debt AFUDC) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | $34.80 | $30.80 | $21.90 |
Debt [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 11.7 | 10.5 | 7.8 |
Equity [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 23.1 | 20.3 | 14.1 |
IPL [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 25.9 | 21 | 8.4 |
IPL [Member] | Debt [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 8.8 | 7.2 | 3.2 |
IPL [Member] | Equity [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 17.1 | 13.8 | 5.2 |
WPL [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 8.9 | 9.8 | 13.5 |
WPL [Member] | Debt [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 2.9 | 3.3 | 4.6 |
WPL [Member] | Equity [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | $6 | $6.50 | $8.90 |
Property_Plant_and_Equipment_A
Property, Plant and Equipment (AFUDC By Project) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | $34.80 | $30.80 | $21.90 |
IPL [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 25.9 | 21 | 8.4 |
IPL [Member] | Ottumwa Unit 1 [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 10.6 | 8 | 2 |
IPL [Member] | George Neal Units 3 and 4 [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 1.4 | 5.1 | 0.9 |
IPL [Member] | Marshalltown Generating Station [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 3.7 | 0 | 0 |
IPL [Member] | Other [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 10.2 | 7.9 | 5.5 |
WPL [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 8.9 | 9.8 | 13.5 |
WPL [Member] | Columbia Units 1-2 [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 4 | 7.2 | 3.9 |
WPL [Member] | Edgewater Unit 5 [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | 2.7 | 0 | 7.2 |
WPL [Member] | Other [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Allowance for funds used during construction | $2.20 | $2.60 | $2.40 |
JointlyOwned_Electric_Utility_2
Jointly-Owned Electric Utility Plant (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Jointly Owned Electric Utility Plant [Line Items] | |
Electric Plant | $1,488.10 |
Accumulated Provision for Depreciation | 486.8 |
Construction Work in Progress | 22.4 |
Cost Of Removal Obligations Included In Regulatory Liabilities | 45.3 |
IPL [Member] | |
Jointly Owned Electric Utility Plant [Line Items] | |
Electric Plant | 842.6 |
Accumulated Provision for Depreciation | 264.6 |
Construction Work in Progress | 3.2 |
Cost Of Removal Obligations Included In Regulatory Liabilities | 32.6 |
WPL [Member] | |
Jointly Owned Electric Utility Plant [Line Items] | |
Electric Plant | 645.5 |
Accumulated Provision for Depreciation | 222.2 |
Construction Work in Progress | 19.2 |
Cost Of Removal Obligations Included In Regulatory Liabilities | 12.7 |
Ottumwa Unit 1 [Member] | IPL [Member] | |
Jointly Owned Electric Utility Plant [Line Items] | |
Ownership Interest % | 48.00% |
Electric Plant | 488.7 |
Accumulated Provision for Depreciation | 131.6 |
Construction Work in Progress | 1.4 |
Cost Of Removal Obligations Included In Regulatory Liabilities | 11 |
George Neal Unit 4 [Member] | IPL [Member] | |
Jointly Owned Electric Utility Plant [Line Items] | |
Ownership Interest % | 25.70% |
Electric Plant | 183.3 |
Accumulated Provision for Depreciation | 71.3 |
Construction Work in Progress | 0.3 |
Cost Of Removal Obligations Included In Regulatory Liabilities | 12.3 |
George Neal Unit 3 [Member] | IPL [Member] | |
Jointly Owned Electric Utility Plant [Line Items] | |
Ownership Interest % | 28.00% |
Electric Plant | 135.2 |
Accumulated Provision for Depreciation | 41.3 |
Construction Work in Progress | 1.4 |
Cost Of Removal Obligations Included In Regulatory Liabilities | 6 |
Louisa Unit 1 [Member] | IPL [Member] | |
Jointly Owned Electric Utility Plant [Line Items] | |
Ownership Interest % | 4.00% |
Electric Plant | 35.4 |
Accumulated Provision for Depreciation | 20.4 |
Construction Work in Progress | 0.1 |
Cost Of Removal Obligations Included In Regulatory Liabilities | 3.3 |
Columbia Units 1-2 [Member] | WPL [Member] | |
Jointly Owned Electric Utility Plant [Line Items] | |
Ownership Interest % | 46.20% |
Electric Plant | 549 |
Accumulated Provision for Depreciation | 166.8 |
Construction Work in Progress | 18.9 |
Cost Of Removal Obligations Included In Regulatory Liabilities | 10.2 |
Edgewater Unit 4 [Member] | WPL [Member] | |
Jointly Owned Electric Utility Plant [Line Items] | |
Ownership Interest % | 68.20% |
Electric Plant | 96.5 |
Accumulated Provision for Depreciation | 55.4 |
Construction Work in Progress | 0.3 |
Cost Of Removal Obligations Included In Regulatory Liabilities | $2.50 |
Receivables_Narrative_Details
Receivables (Narrative) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2015 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Fair value of deferred proceeds of receivables sold | $177.20 | $203.50 | ||||
Long-term debt issued | 3,802.80 | 3,348.40 | ||||
Proceeds from Franklin County wind project cash grant | 0 | 62.4 | 0 | |||
IPL [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Cash proceeds to be received from third-party | 46.4 | 105.9 | 119.8 | |||
Receivables sold to third party | 204.6 | |||||
Fair value of deferred proceeds of receivables sold | 177.2 | 203.5 | ||||
Long-term debt issued | 1,775 | 1,563.40 | ||||
IPL [Member] | Maximum [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Cash proceeds to be received from third-party | 150 | 170 | 160 | |||
Whiting Petroleum Corporation [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Final payment of certain future tax benefits expected to be realized | 26 | |||||
Franklin County Wind Project [Member] | American Recovery and Reinvestment Act of 2009 [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Proceeds from Franklin County wind project cash grant | 62.4 | |||||
Senior Debentures [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Long-term debt issued | 1,775 | 1,525 | ||||
Senior Debentures [Member] | IPL [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Long-term debt issued | 1,775 | 1,525 | ||||
Receivables Sold [Member] | IPL [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Receivables sold to third party | 204.6 | 238 | ||||
Cash proceeds from receivables sold | 22 | [1] | 29 | [1] | ||
Fair value of deferred proceeds of receivables sold | 177.2 | 203.5 | ||||
3.25% senior debenture, due 2024 [Member] | Senior Debentures [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Long-term debt issued | 250 | [2] | 0 | [2] | ||
3.25% senior debenture, due 2024 [Member] | Senior Debentures [Member] | IPL [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Long-term debt issued | 250 | [2] | 0 | [2] | ||
Scenario, Forecast [Member] | IPL [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Cash proceeds to be received from third-party | $180 | |||||
[1] | Changes in cash proceeds are presented in bSales of accounts receivableb in operating activities in Alliant Energybs and IPLbs cash flows statements. | |||||
[2] | In 2014, IPL issued $250.0 million of 3.25% senior debentures due 2024. The proceeds from the issuance were used by IPL to reduce cash proceeds received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt by $60 million and for general corporate purposes. |
Receivables_Details_of_Account
Receivables (Details of Accounts Receivable) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Customer, less allowance for doubtful accounts | $84.50 | $81.80 |
Unbilled utility revenues | 85.4 | 92.3 |
Deferred proceeds | 177.2 | 203.5 |
Other, less allowance for doubtful accounts | 80.2 | 95.7 |
Accounts receivable, less allowance for doubtful accounts | 427.3 | 473.3 |
IPL [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Customer, less allowance for doubtful accounts | 0 | 0 |
Unbilled utility revenues | 0 | 0 |
Deferred proceeds | 177.2 | 203.5 |
Other, less allowance for doubtful accounts | 39.5 | 43.4 |
Accounts receivable, less allowance for doubtful accounts | 216.7 | 246.9 |
WPL [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Customer, less allowance for doubtful accounts | 77.3 | 73 |
Unbilled utility revenues | 85.4 | 92.3 |
Other, less allowance for doubtful accounts | 23.1 | 33.1 |
Accounts receivable, less allowance for doubtful accounts | $185.80 | $198.40 |
Receivables_Schedule_of_Allowa
Receivables (Schedule of Allowance for Doubtful Accounts) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | $5.10 | $4.80 |
IPL [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | 0.4 | 0.7 |
WPL [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | 4.2 | 1.7 |
Customer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | 3.7 | 1.4 |
Customer [Member] | IPL [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | 0 | 0 |
Customer [Member] | WPL [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | 3.7 | 1.4 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | 1.4 | 3.4 |
Other [Member] | IPL [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | 0.4 | 0.7 |
Other [Member] | WPL [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | $0.50 | $0.30 |
Receivables_Maximum_And_Averag
Receivables (Maximum And Average Outstanding Cash Proceeds) (Details) (IPL [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding aggregate cash proceeds (based on daily outstanding balances) | $46.40 | $105.90 | $119.80 |
Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding aggregate cash proceeds (based on daily outstanding balances) | $150 | $170 | $160 |
Receivables_Receivables_Sold_U
Receivables (Receivables Sold Under The Agreement) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Fair value of deferred proceeds | $177.20 | $203.50 | ||
IPL [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Receivables sold to third party | 204.6 | |||
Fair value of deferred proceeds | 177.2 | 203.5 | ||
Receivables Sold [Member] | IPL [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Customer accounts receivable | 134.8 | 151.6 | ||
Unbilled utility revenues | 69.7 | 86.2 | ||
Other receivables | 0.1 | 0.2 | ||
Receivables sold to third party | 204.6 | 238 | ||
Less: cash proceeds | 22 | [1] | 29 | [1] |
Deferred proceeds | 182.6 | 209 | ||
Less: allowance for doubtful accounts | 5.4 | 5.5 | ||
Fair value of deferred proceeds | 177.2 | 203.5 | ||
Outstanding receivables past due | $19.90 | $21.50 | ||
[1] | Changes in cash proceeds are presented in bSales of accounts receivableb in operating activities in Alliant Energybs and IPLbs cash flows statements. |
Receivables_Additional_Attribu
Receivables (Additional Attributes Of Receivables Sold Under The Agreement) (Details) (IPL [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
IPL [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Collections reinvested in receivables | $1,997.90 | $1,880.80 | $1,771.60 |
Credit losses, net of recoveries | $11.40 | $11.90 | $10 |
Investments_Narrative_Details
Investments (Narrative) (Details) | Dec. 31, 2014 | Dec. 31, 2013 |
WPL [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
WPL's ownership interest in WPL Transco | 95.00% | 100.00% |
ATI [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
ATI's ownership interest in WPL Transco | 5.00% |
Investments_Unconsolidated_Equ
Investments (Unconsolidated Equity Investments) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Schedule of Equity Method Investments [Line Items] | ||||||
Carrying value | $296.60 | $281.40 | $266.60 | |||
Equity (income) / loss | -40.4 | -43.7 | -41.3 | |||
WPL [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity (income) / loss | -42.8 | -43.7 | -42.1 | |||
ATC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership interest | 16.00% | [1] | ||||
Carrying value | 286.5 | [1] | 272.1 | [1] | ||
Equity (income) / loss | -41.9 | [1] | -42.7 | [1] | -41.3 | [1] |
ATC [Member] | WPL [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership interest | 16.00% | [1] | ||||
Carrying value | 286.5 | [1] | 272.1 | [1] | ||
Equity (income) / loss | -41.9 | [1] | -42.7 | [1] | -41.3 | [1] |
Wisconsin River Power Company [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership interest | 50.00% | |||||
Carrying value | 7.8 | 7 | ||||
Equity (income) / loss | -0.9 | -1 | -0.8 | |||
Wisconsin River Power Company [Member] | WPL [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership interest | 50.00% | |||||
Carrying value | 7.8 | 7 | ||||
Equity (income) / loss | -0.9 | -1 | -0.8 | |||
Other [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Carrying value | 2.3 | 2.3 | ||||
Equity (income) / loss | 2.4 | 0 | 0.8 | |||
Totals [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Carrying value | 296.6 | 281.4 | ||||
Equity (income) / loss | -40.4 | -43.7 | -41.3 | |||
Totals [Member] | WPL [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Carrying value | 294.3 | 279.1 | ||||
Equity (income) / loss | ($42.80) | ($43.70) | ($42.10) | |||
[1] | Alliant Energy and WPL have the ability to exercise significant influence over ATCbs financial and operating policies through their participation on ATCbs Board of Directors. Refer to Note 18 for information regarding related party transactions with ATC. |
Investments_Summary_Financial_
Investments (Summary Financial Information) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating revenues | $643 | $634 | $611 |
Operating income | 330 | 334 | 326 |
Net income | 240 | 248 | 234 |
Current assets | 72 | 86 | |
Non-current assets | 3,773 | 3,553 | |
Current liabilities | 315 | 383 | |
Non-current liabilities | 1,871 | 1,682 | |
WPL [Member] | |||
Operating revenues | 643 | 634 | 611 |
Operating income | 330 | 334 | 325 |
Net income | 240 | 250 | 239 |
Current assets | 70 | 84 | |
Non-current assets | 3,747 | 3,527 | |
Current liabilities | 315 | 383 | |
Non-current liabilities | $1,870 | $1,681 |
Investments_Cash_Surrender_Val
Investments (Cash Surrender Value Of Life Insurance Policies) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Cash surrender value | $47 | $46.50 |
IPL [Member] | ||
Cash surrender value | 18.1 | 17.3 |
WPL [Member] | ||
Cash surrender value | $11.40 | $12.30 |
Common_Equity_Narrative_Detail
Common Equity (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Common Equity [Line Items] | |||
Shares available for issuance under the OIP, Shareowner Direct Plan and 401(k) Savings Plan | 7,800,000 | ||
Ownership percentage | 15.00% | ||
Initial right entitlement, number of shares of common stock shareholders have the option to purchase (in shares) | 0.5 | ||
Exercise price, rights (in dollars per share) | $110 | ||
Percentage of exercise price upon change in beneficial ownership | 200.00% | ||
Other comprehensive income (loss) | ($0.40) | $0.60 | $0 |
IPL [Member] | |||
Schedule of Common Equity [Line Items] | |||
Common equity ratio, computation of ratio average, number of months | 13 months | ||
Common equity ratio | 42.00% | ||
Retained earnings free of dividend restrictions | 538 | ||
Other comprehensive income (loss) | 0 | 0 | 0 |
WPL [Member] | |||
Schedule of Common Equity [Line Items] | |||
Common equity ratio, computation of ratio average, number of months | 13 months | ||
Retained earnings free of dividend restrictions | 127 | ||
Other comprehensive income (loss) | 0 | 0 | 0 |
Minimum [Member] | |||
Schedule of Common Equity [Line Items] | |||
Ownership percentage | 10.00% | ||
2015 [Member] | WPL [Member] | |||
Schedule of Common Equity [Line Items] | |||
Common equity ratio | 51.79% | ||
Retained earnings free of dividend restrictions | 127 | ||
2016 [Member] | WPL [Member] | |||
Schedule of Common Equity [Line Items] | |||
Common equity ratio | 52.25% | ||
Retained earnings free of dividend restrictions | $135 |
Common_Equity_Common_Share_Act
Common Equity (Common Share Activity) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Common Stock Oustanding [Roll Forward] | |||
Shares outstanding, January 1 (in shares) | 110,943,669 | 110,987,400 | 111,018,821 |
Equity-based compensation plans (in shares) | 35,547 | -23,374 | 20,195 |
Other (in shares) | -43,536 | -20,357 | -51,616 |
Shares outstanding, December 31 (in shares) | 110,935,680 | 110,943,669 | 110,987,400 |
Common_Equity_Schedule_Of_Rest
Common Equity (Schedule Of Restricted Net Assets of Subsidiaries) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Billions, unless otherwise specified | ||
IPL [Member] | ||
Restricted net assets of subsidiaries | $1.30 | $1.20 |
WPL [Member] | ||
Restricted net assets of subsidiaries | $1.60 | $1.50 |
Common_Equity_Capital_Transact
Common Equity (Capital Transactions With Subsidiaries) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Common stock dividends | $225.80 | $208.30 | $199.30 |
IPL [Member] | |||
Common stock dividends | 140 | 128.1 | 122.9 |
Repayments of capital | 0 | 0 | 0 |
Total distributions from common equity | 140 | 128.1 | 122.9 |
WPL [Member] | |||
Common stock dividends | 118.7 | 116.3 | 112 |
Repayments of capital | 0 | 0 | 0 |
Total distributions from common equity | 118.7 | 116.3 | 112 |
Resources [Member] | |||
Common stock dividends | 0 | 0 | 0 |
Repayments of capital | 50 | 95 | 0 |
Total distributions from common equity | $50 | $95 | $0 |
Common_Equity_Schedule_of_Capi
Common Equity (Schedule of Capital Contributions) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
IPL [Member] | |||
Capital contributions from parent | $90 | $120 | $110 |
WPL [Member] | |||
Capital contributions from parent | 0 | 0 | 90 |
Corporate Services [Member] | |||
Capital contributions from parent | $0 | $0 | $30 |
Redeemable_Preferred_Stock_Nar
Redeemable Preferred Stock (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Temporary Equity [Line Items] | |||
Reduction in commercial paper | ($138.10) | $11.90 | $164.70 |
Preferred stock issuance costs | -5.4 | ||
IPL [Member] | |||
Temporary Equity [Line Items] | |||
Cumulative preferred stock rate | 5.10% | ||
Reduction in commercial paper | 0 | -76.3 | 69.2 |
Preferred stock issuance costs | -5.4 | ||
Number of board members to be elected (in members) | 2 | ||
Number of quarterly dividend requirements (in quarters) | 6 | ||
IPL [Member] | Redeemable Preferred Stock [Member] | 5.1% [Member] | |||
Temporary Equity [Line Items] | |||
Preferred stock issued during period (in shares) | 8,000,000 | ||
Cumulative preferred stock rate | 5.10% | 5.10% | |
Preferred stock issued during period, value | 200 | ||
Preferred stock redemption price per share (in dollars per share) | $25 | ||
IPL [Member] | Redeemable Preferred Stock [Member] | 8.375% [Member] | |||
Temporary Equity [Line Items] | |||
Cumulative preferred stock rate | 8.38% | ||
Preferred stock redeemed during period (in shares) | 6,000,000 | ||
Preferred stock redeemed during period, value | 150 | ||
Alliant Energy and IPL [Member] | Redeemable Preferred Stock [Member] | 5.1% [Member] | |||
Temporary Equity [Line Items] | |||
Preferred stock issuance costs | 5 | ||
Alliant Energy and IPL [Member] | Redeemable Preferred Stock [Member] | 8.375% [Member] | |||
Temporary Equity [Line Items] | |||
Preferred stock redemption charge | 5 | ||
WPL [Member] | |||
Temporary Equity [Line Items] | |||
Reduction in commercial paper | -183.7 | 97.1 | 60.9 |
WPL [Member] | Redeemable Preferred Stock [Member] | 4.40% through 6.50% [Member] | |||
Temporary Equity [Line Items] | |||
Preferred stock redeemed during period (in shares) | 1,049,225 | ||
Preferred stock redeemed during period, value | 61 | ||
WPL [Member] | Redeemable Preferred Stock [Member] | 4.40% [Member] | |||
Temporary Equity [Line Items] | |||
Cumulative preferred stock rate | 4.40% | ||
WPL [Member] | Redeemable Preferred Stock [Member] | 6.50% [Member] | |||
Temporary Equity [Line Items] | |||
Cumulative preferred stock rate | 6.50% | ||
Alliant Energy and WPL [Member] | Redeemable Preferred Stock [Member] | 4.40% through 6.50% [Member] | |||
Temporary Equity [Line Items] | |||
Preferred stock redemption charge | 1 | ||
Long-term debt [Member] | IPL [Member] | Redeemable Preferred Stock [Member] | 5.1% [Member] | |||
Temporary Equity [Line Items] | |||
Reduction in commercial paper | $40 |
Redeemable_Preferred_Stock_Car
Redeemable Preferred Stock (Carrying Value Of Cumulative Preferred Stock) (Details) (IPL [Member], USD $) | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Temporary Equity [Line Items] | ||
Series | 5.10% | |
Redeemable Preferred Stock [Member] | ||
Temporary Equity [Line Items] | ||
Shares Authorized (in shares) | 16,000,000 | |
5.1% [Member] | Redeemable Preferred Stock [Member] | ||
Temporary Equity [Line Items] | ||
Liquidation Preference/Stated Value (in dollars per share) | $25 | |
Shares Outstanding (in shares) | 8,000,000 | |
Series | 5.10% | 5.10% |
Cumulative preferred stock | $200 | $200 |
Debt_Narrative_Details
Debt (Narrative) (Details) (USD $) | Dec. 31, 2014 |
revolving_credit_facility | |
Debt Instrument [Line Items] | |
Number of revolving credit facilities included in short-term borrowing arrangements (number of facilities) | 3 |
Line of credit facility, current borrowing capacity | $1,000,000,000 |
Non-recourse debt and hybrid securities consolidated capital maximum limit | 15.00% |
Parent Company [Member] | |
Debt Instrument [Line Items] | |
Line of credit facility, current borrowing capacity | 300,000,000 |
IPL [Member] | |
Debt Instrument [Line Items] | |
Line of credit facility, current borrowing capacity | 300,000,000 |
WPL [Member] | |
Debt Instrument [Line Items] | |
Line of credit facility, current borrowing capacity | $400,000,000 |
Debt_Credit_Facilities_Details
Debt (Credit Facilities) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Commercial paper: | ||
Amount outstanding | $141.30 | $279.40 |
Weighted average interest rates | 0.40% | 0.20% |
Weighted average remaining maturity | 4 days | 4 days |
Available credit facility capacity | 858.7 | 720.6 |
IPL [Member] | ||
Commercial paper: | ||
Amount outstanding | 0 | 0 |
Available credit facility capacity | 300 | 300 |
WPL [Member] | ||
Commercial paper: | ||
Amount outstanding | 0 | 183.7 |
Weighted average interest rates | 0.10% | |
Weighted average remaining maturity | 6 days | |
Available credit facility capacity | $400 | $216.30 |
Debt_Other_ShortTerm_Borrowing
Debt (Other Short-Term Borrowings) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ||
Maximum amount outstanding (based on daily outstanding balances) | $353.80 | $293.90 |
Average amount outstanding (based on daily outstanding balances) | 255.9 | 210.5 |
Weighted average interest rates | 0.20% | 0.20% |
IPL [Member] | ||
Debt Instrument [Line Items] | ||
Maximum amount outstanding (based on daily outstanding balances) | 38 | 26.3 |
Average amount outstanding (based on daily outstanding balances) | 0.2 | 1.3 |
Weighted average interest rates | 0.20% | 0.40% |
WPL [Member] | ||
Debt Instrument [Line Items] | ||
Maximum amount outstanding (based on daily outstanding balances) | 204.7 | 190 |
Average amount outstanding (based on daily outstanding balances) | $122.90 | $123.50 |
Weighted average interest rates | 0.10% | 0.20% |
Debt_Schedule_Of_DebtToCapital
Debt (Schedule Of Debt-To-Capital Ratios) (Details) | Dec. 31, 2014 |
Actual | 52.00% |
IPL [Member] | |
Actual | 47.00% |
WPL [Member] | |
Actual | 49.00% |
Maximum [Member] | |
Requirement, not to exceed | 65.00% |
Maximum [Member] | IPL [Member] | |
Requirement, not to exceed | 58.00% |
Maximum [Member] | WPL [Member] | |
Requirement, not to exceed | 58.00% |
Debt_Longterm_Debt_Details
Debt (Long-term Debt) (Details) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Debt Instrument [Line Items] | |||||
Long-term debt issued | $3,802.80 | $3,348.40 | |||
Current maturities | -183 | -358.5 | |||
Unamortized debt (discount) and premium, net | -13.1 | -12.1 | |||
Long-term debt, net | 3,606.70 | 2,977.80 | |||
Payments to retire long-term debt | -358.5 | -1.5 | -1.4 | ||
Senior Debentures [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 1,775 | 1,525 | |||
Senior Debentures [Member] | 3.3% senior debenture, due 2015 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 150 | 150 | |||
Interest rate | 3.30% | 3.30% | |||
Senior Debentures [Member] | 5.875% senior debenture, due 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 100 | 100 | |||
Interest rate | 5.88% | 5.88% | |||
Senior Debentures [Member] | 7.25% senior debenture, due 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 7.25% | 7.25% | |||
Senior Debentures [Member] | 3.65% senior debenture, due 2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 200 | 200 | |||
Interest rate | 3.65% | 3.65% | |||
Senior Debentures [Member] | 3.25% senior debenture, due 2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | [1] | 0 | [1] | |
Interest rate | 3.25% | ||||
Senior Debentures [Member] | 5.5% senior debenture, due 2025 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 50 | 50 | |||
Interest rate | 5.50% | 5.50% | |||
Senior Debentures [Member] | 6.45% senior debenture, due 2033 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 100 | 100 | |||
Interest rate | 6.45% | 6.45% | |||
Senior Debentures [Member] | 6.3% senior debenture, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 125 | 125 | |||
Interest rate | 6.30% | 6.30% | |||
Senior Debentures [Member] | 6.25% senior debenture, due 2039 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 300 | 300 | |||
Interest rate | 6.25% | 6.25% | |||
Senior Debentures [Member] | 4.7% senior debenture, due 2043 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 4.70% | 4.70% | |||
Debentures [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 1,550 | 1,300 | |||
Debentures [Member] | 5% debenture, due 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 5.00% | 5.00% | |||
Debentures [Member] | 4.6% debenture, due 2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 150 | 150 | |||
Interest rate | 4.60% | 4.60% | |||
Debentures [Member] | 2.25% debenture, due 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 2.25% | 2.25% | |||
Debentures [Member] | 6.25% debenture, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 100 | 100 | |||
Interest rate | 6.25% | 6.25% | |||
Debentures [Member] | 6.375% debenture, due 2037 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 300 | 300 | |||
Interest rate | 6.38% | 6.38% | |||
Debentures [Member] | 7.6% debenture, due 2038 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 7.60% | 7.60% | |||
Debentures [Member] | 4.1% debenture, due 2044 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | [2] | 0 | [2] | |
Interest rate | 4.10% | ||||
Pollution Control Revenue Bonds [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 30.6 | 77.5 | |||
Pollution Control Revenue Bonds [Member] | 5% pollution control revenue bond, due 2015 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 16 | [3] | 24.5 | [3] | |
Interest rate | 5.00% | 5.00% | |||
Pollution Control Revenue Bonds [Member] | 5.375% pollution control revenue bond, due 2015 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 14.6 | 14.6 | |||
Interest rate | 5.38% | 5.38% | |||
Pollution Control Revenue Bonds [Member] | 5% pollution control revenue bond [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 0 | [4] | 38.4 | [4] | |
Interest rate | 5.00% | ||||
Other Long Term Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 447.2 | 445.9 | |||
Term Loan Credit Agreement [Member] | Term loan credit agreement through 2016, 1% at December 31, 2014 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | [5] | 0 | [5] | |
Interest rate | 1.00% | ||||
Senior Notes [Member] | 3.45% senior notes, due 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 75 | 75 | |||
Interest rate | 3.45% | 3.45% | |||
Senior Notes [Member] | 4% senior notes, due 2014 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 0 | [5] | 250 | [5] | |
Interest rate | 4.00% | ||||
Senior Secured Notes [Member] | 5.06% senior secured notes, due 2015 to 2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 58.9 | 60.5 | |||
Interest rate | 5.06% | 5.06% | |||
Other [Member] | Other, 1% at December 31, 2014, due 2015 to 2025 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 3.3 | 0.4 | |||
Interest rate | 1.00% | 1.00% | |||
IPL [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 1,775 | 1,563.40 | |||
Current maturities | -150 | -38.4 | |||
Unamortized debt (discount) and premium, net | -6.3 | -5 | |||
Long-term debt, net | 1,618.70 | 1,520 | |||
Repayments of commercial paper | 60 | ||||
Payments to retire long-term debt | -38.4 | 0 | 0 | ||
IPL [Member] | Senior Debentures [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 1,775 | 1,525 | |||
IPL [Member] | Senior Debentures [Member] | 3.3% senior debenture, due 2015 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 150 | 150 | |||
Interest rate | 3.30% | 3.30% | |||
IPL [Member] | Senior Debentures [Member] | 5.875% senior debenture, due 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 100 | 100 | |||
Interest rate | 5.88% | 5.88% | |||
IPL [Member] | Senior Debentures [Member] | 7.25% senior debenture, due 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 7.25% | 7.25% | |||
IPL [Member] | Senior Debentures [Member] | 3.65% senior debenture, due 2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 200 | 200 | |||
Interest rate | 3.65% | 3.65% | |||
IPL [Member] | Senior Debentures [Member] | 3.25% senior debenture, due 2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | [1] | 0 | [1] | |
Interest rate | 3.25% | ||||
IPL [Member] | Senior Debentures [Member] | 5.5% senior debenture, due 2025 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 50 | 50 | |||
Interest rate | 5.50% | 5.50% | |||
IPL [Member] | Senior Debentures [Member] | 6.45% senior debenture, due 2033 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 100 | 100 | |||
Interest rate | 6.45% | 6.45% | |||
IPL [Member] | Senior Debentures [Member] | 6.3% senior debenture, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 125 | 125 | |||
Interest rate | 6.30% | 6.30% | |||
IPL [Member] | Senior Debentures [Member] | 6.25% senior debenture, due 2039 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 300 | 300 | |||
Interest rate | 6.25% | 6.25% | |||
IPL [Member] | Senior Debentures [Member] | 4.7% senior debenture, due 2043 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 4.70% | 4.70% | |||
IPL [Member] | Pollution Control Revenue Bonds [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 0 | 38.4 | |||
IPL [Member] | Pollution Control Revenue Bonds [Member] | 5% pollution control revenue bond [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 0 | [4] | 38.4 | [4] | |
Interest rate | 5.00% | ||||
WPL [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 1,580.60 | 1,339.10 | |||
Current maturities | -30.6 | -8.5 | |||
Unamortized debt (discount) and premium, net | -6.7 | -7 | |||
Long-term debt, net | 1,543.30 | 1,323.60 | |||
WPL [Member] | Debentures [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 1,550 | 1,300 | |||
WPL [Member] | Debentures [Member] | 5% debenture, due 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 5.00% | 5.00% | |||
WPL [Member] | Debentures [Member] | 4.6% debenture, due 2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 150 | 150 | |||
Interest rate | 4.60% | 4.60% | |||
WPL [Member] | Debentures [Member] | 2.25% debenture, due 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 2.25% | 2.25% | |||
WPL [Member] | Debentures [Member] | 6.25% debenture, due 2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 100 | 100 | |||
Interest rate | 6.25% | 6.25% | |||
WPL [Member] | Debentures [Member] | 6.375% debenture, due 2037 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 300 | 300 | |||
Interest rate | 6.38% | 6.38% | |||
WPL [Member] | Debentures [Member] | 7.6% debenture, due 2038 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | 250 | |||
Interest rate | 7.60% | 7.60% | |||
WPL [Member] | Debentures [Member] | 4.1% debenture, due 2044 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 250 | [2] | 0 | [2] | |
Interest rate | 4.10% | ||||
WPL [Member] | Pollution Control Revenue Bonds [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 30.6 | 39.1 | |||
WPL [Member] | Pollution Control Revenue Bonds [Member] | 5% pollution control revenue bond, due 2015 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 16 | [3] | 24.5 | [3] | |
Interest rate | 5.00% | 5.00% | |||
WPL [Member] | Pollution Control Revenue Bonds [Member] | 5.375% pollution control revenue bond, due 2015 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 14.6 | 14.6 | |||
Interest rate | 5.38% | 5.38% | |||
WPL [Member] | Pollution Control Revenue Bonds [Member] | 5% pollution control revenue bond [Member] | |||||
Debt Instrument [Line Items] | |||||
Payments to retire long-term debt | -8.5 | ||||
Franklin County Holdings [Member] | Term Loan Credit Agreement [Member] | Term loan credit agreement through 2016, 1% at December 31, 2014 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | 60 | [6] | 0 | [6] | |
Interest rate | 1.00% | ||||
Franklin County Holdings [Member] | Term Loan Credit Agreement [Member] | Term loan credit agreement through 2014, 1% at December 31, 2013 [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term debt issued | $0 | [6] | $60 | [6] | |
Interest rate | 1.00% | ||||
[1] | In 2014, IPL issued $250.0 million of 3.25% senior debentures due 2024. The proceeds from the issuance were used by IPL to reduce cash proceeds received from its sales of accounts receivable program, reduce commercial paper classified as long-term debt by $60 million and for general corporate purposes. | ||||
[2] | In 2014, WPL issued $250.0 million of 4.1% debentures due 2044. The proceeds from the issuance were used by WPL to reduce commercial paper and for general corporate purposes. | ||||
[3] | In 2014, WPL retired $8.5 million of its 5% pollution control revenue bonds. | ||||
[4] | In 2014, IPL retired its $38.4 million, 5% pollution control revenue bonds. | ||||
[5] | In 2014, Alliant Energy entered into a $250.0 million variable-rate term loan credit agreement and used the proceeds from borrowings under this agreement to retire its $250.0 million, 4% senior notes due 2014. | ||||
[6] | In 2014, Franklin County Holdings LLC, Resourcesb wholly-owned subsidiary, entered into a $60.0 million variable-rate term loan credit agreement and used the proceeds to retire its borrowings under a term loan credit agreement that matured in December 2014. |
Debt_Schedule_Of_Debt_Maturiti
Debt (Schedule Of Debt Maturities) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
2015 | $183 |
2016 | 313 |
2017 | 5 |
2018 | 356 |
2019 | 256 |
IPL [Member] | |
2015 | 150 |
2016 | 0 |
2017 | 0 |
2018 | 350 |
2019 | 0 |
WPL [Member] | |
2015 | 31 |
2016 | 0 |
2017 | 0 |
2018 | 0 |
2019 | 250 |
Resources [Member] | |
2015 | 2 |
2016 | 63 |
2017 | 5 |
2018 | 6 |
2019 | 6 |
Alliant Energy Parent Company [Member] | |
2015 | 0 |
2016 | 250 |
2017 | 0 |
2018 | 0 |
2019 | $0 |
Debt_Schedule_Of_Unamortized_D
Debt (Schedule Of Unamortized Debt Issuance Costs) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Unamortized debt issuance costs | $22.40 | $19.90 |
IPL [Member] | ||
Unamortized debt issuance costs | 10.7 | 9.7 |
WPL [Member] | ||
Unamortized debt issuance costs | $10.80 | $9 |
Leases_Narrative_Details
Leases (Narrative) (Details) (Sheboygan Falls Energy Facility [Member], WPL [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2005 |
lease_renewal_period_option | |
Sheboygan Falls Energy Facility [Member] | WPL [Member] | |
Leases [Line Items] | |
Capital lease, agreement term | 20 years |
Capital leases, renewal options (in number of renewal periods) | 2 |
Affiliated lease agreement monthly payments | $1.30 |
Basis for lease payments, debt to capital ratio | 50.00% |
Basis for lease payments, return on equity ratio | 10.90% |
Approved agreement terms, review period from date of the order | 5 years |
Capital lease asset amortization term | 20 years |
Leases_Schedule_Of_Operating_L
Leases (Schedule Of Operating Leases) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Leases [Line Items] | |||
Operating lease rental expenses (excluding contingent rentals) | $12 | $9 | $69 |
Contingent rentals (primarily related to the Riverside PPA) | 0 | 0 | 6 |
Total operating lease rental expenses | 12 | 9 | 75 |
IPL [Member] | |||
Leases [Line Items] | |||
Operating lease rental expenses (excluding contingent rentals) | 4 | 4 | 4 |
Contingent rentals (primarily related to the Riverside PPA) | 0 | 0 | 0 |
Total operating lease rental expenses | 4 | 4 | 4 |
WPL [Member] | |||
Leases [Line Items] | |||
Operating lease rental expenses (excluding contingent rentals) | 7 | 5 | 64 |
Contingent rentals (primarily related to the Riverside PPA) | 0 | 0 | 5 |
Total operating lease rental expenses | $7 | $5 | $69 |
Leases_Future_Minimum_Operatin
Leases (Future Minimum Operating Lease Payments, Excluding Contingent Rentals) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Operating Leased Assets [Line Items] | |
2015 | $8 |
2016 | 7 |
2017 | 3 |
2018 | 2 |
2019 | 1 |
Thereafter | 21 |
Total future minimum operating lease payments, excluding contingent rentals | 42 |
IPL [Member] | |
Operating Leased Assets [Line Items] | |
2015 | 3 |
2016 | 2 |
2017 | 2 |
2018 | 1 |
2019 | 1 |
Thereafter | 15 |
Total future minimum operating lease payments, excluding contingent rentals | 24 |
WPL [Member] | |
Operating Leased Assets [Line Items] | |
2015 | 4 |
2016 | 5 |
2017 | 1 |
2018 | 0 |
2019 | 0 |
Thereafter | 0 |
Total future minimum operating lease payments, excluding contingent rentals | $10 |
Leases_Schedule_Of_Lease_Expen
Leases (Schedule Of Lease Expenses Included In Consolidated Statements Of Income) (Details) (WPL [Member], Sheboygan Falls Energy Facility [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
WPL [Member] | Sheboygan Falls Energy Facility [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Interest expense | $10.40 | $10.90 | $11.30 |
Depreciation and amortization | 6.2 | 6.2 | 6.2 |
Total lease expenses included in income statements | $16.60 | $17.10 | $17.50 |
Leases_Future_Minimum_Capital_
Leases (Future Minimum Capital Lease Payments) (Details) (WPL [Member], Sheboygan Falls Energy Facility [Member], USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
WPL [Member] | Sheboygan Falls Energy Facility [Member] | |
Schedule of Future Lease Payments for Capital Leases [Line Items] | |
2015 | $15 |
2016 | 15 |
2017 | 15 |
2018 | 15 |
2019 | 15 |
Thereafter | 83 |
Total estimated future minimum capital lease payments | 158 |
Less: amount representing interest | 63 |
Present value of minimum capital lease payments | $95 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2015 |
State Apportionment [Member] | ||
Income Tax [Line Items] | ||
Deferred income tax expense | $15 | |
Bonus Depreciation 2014 Return [Member] | Scenario, Forecast [Member] | ||
Income Tax [Line Items] | ||
Deductions in income tax return | 450 | |
IPL [Member] | State Apportionment [Member] | ||
Income Tax [Line Items] | ||
Deferred income tax expense | 8 | |
IPL [Member] | Bonus Depreciation 2014 Return [Member] | Scenario, Forecast [Member] | ||
Income Tax [Line Items] | ||
Deductions in income tax return | 245 | |
WPL [Member] | State Apportionment [Member] | ||
Income Tax [Line Items] | ||
Deferred income tax expense | 7 | |
WPL [Member] | Bonus Depreciation 2014 Return [Member] | Scenario, Forecast [Member] | ||
Income Tax [Line Items] | ||
Deductions in income tax return | $190 |
Income_Taxes_Schedule_Of_Compo
Income Taxes (Schedule Of Components Of Income Tax) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current tax expense (benefit): | |||
Federal | $36.60 | $4.40 | ($29.30) |
State | 9.3 | -3.6 | 11.6 |
Deferred tax expense (benefit): | |||
Federal | 83.5 | 123.9 | 157.8 |
State | 4.6 | 15.6 | 23.9 |
Production tax credits | -31.3 | -31 | -24.8 |
Investment tax credits | -1.6 | -1.6 | -1.7 |
Provision recorded as a change in uncertain tax positions, current | 0 | 0 | 8 |
Provision recorded as a change in uncertain tax positions, deferred | 0 | -0.4 | -7.6 |
Provision recorded as a change in accrued interest | -0.1 | -0.5 | -0.2 |
Income tax expense (benefit) | 44.3 | 53.9 | 89.4 |
IPL's tax benefit riders [Member] | |||
Current tax expense (benefit): | |||
IPL's tax benefit riders | -56.7 | -52.9 | -48.3 |
IPL [Member] | |||
Current tax expense (benefit): | |||
Federal | 11.3 | 11.7 | -7.7 |
State | 3.4 | -0.1 | 9.1 |
Deferred tax expense (benefit): | |||
Federal | 11.1 | 20 | 37.4 |
State | -6.2 | -0.8 | 3.2 |
Production tax credits | -14 | -14.4 | -12.5 |
Investment tax credits | -0.6 | -0.6 | -0.6 |
Provision recorded as a change in uncertain tax positions, current | 0 | 0 | 8.1 |
Provision recorded as a change in uncertain tax positions, deferred | 0 | 0 | -8.2 |
Provision recorded as a change in accrued interest | 0 | -0.8 | -0.3 |
Income tax expense (benefit) | -51.7 | -37.9 | -19.8 |
IPL [Member] | IPL's tax benefit riders [Member] | |||
Current tax expense (benefit): | |||
IPL's tax benefit riders | -56.7 | -52.9 | -48.3 |
WPL [Member] | |||
Current tax expense (benefit): | |||
Federal | 0.6 | -5.7 | 7.2 |
State | 4.4 | 6 | -0.9 |
Deferred tax expense (benefit): | |||
Federal | 88.9 | 92.7 | 81.1 |
State | 10.1 | 11.8 | 20.3 |
Production tax credits | -17.3 | -16.6 | -12.3 |
Investment tax credits | -1 | -1 | -1.1 |
Provision recorded as a change in uncertain tax positions, current | 0 | 0 | -0.1 |
Provision recorded as a change in uncertain tax positions, deferred | 0 | -0.4 | 0.6 |
Provision recorded as a change in accrued interest | -0.1 | 0.4 | -0.2 |
Income tax expense (benefit) | $85.60 | $87.20 | $94.60 |
Income_Taxes_Schedule_Of_Effec
Income Taxes (Schedule Of Effective Income Tax Rates) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Effective Tax Rate [Line Items] | |||
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefits | 5.40% | 5.70% | 5.70% |
Effect of rate-making on property-related differences | -7.50% | -6.00% | -5.00% |
Production tax credits | -7.10% | -7.10% | -5.80% |
Adjustment of prior period taxes | -1.30% | -1.30% | 0.00% |
Other items, net | -1.50% | -1.80% | -1.40% |
Overall income tax rate | 10.10% | 12.40% | 20.80% |
IPL [Member] | |||
Effective Tax Rate [Line Items] | |||
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefits | 5.00% | 5.40% | 5.80% |
Effect of rate-making on property-related differences | -21.90% | -15.90% | -14.20% |
Production tax credits | -9.80% | -9.50% | -9.60% |
Adjustment of prior period taxes | -3.50% | -3.60% | 0.20% |
Other items, net | -1.40% | -1.50% | -1.60% |
Overall income tax rate | -36.20% | -24.90% | -15.20% |
WPL [Member] | |||
Effective Tax Rate [Line Items] | |||
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefits | 5.50% | 6.00% | 5.50% |
Effect of rate-making on property-related differences | -0.70% | -0.80% | -1.10% |
Production tax credits | -6.50% | -6.30% | -4.70% |
Adjustment of prior period taxes | -0.10% | -0.10% | -0.30% |
Other items, net | -1.10% | -0.90% | -0.80% |
Overall income tax rate | 32.10% | 32.90% | 36.30% |
IPL's tax benefit riders [Member] | |||
Effective Tax Rate [Line Items] | |||
IPLbs tax benefit riders | -12.90% | -12.10% | -11.20% |
IPL's tax benefit riders [Member] | IPL [Member] | |||
Effective Tax Rate [Line Items] | |||
IPLbs tax benefit riders | -39.60% | -34.80% | -37.00% |
State Apportionment [Member] | |||
Effective Tax Rate [Line Items] | |||
State apportionment change due to announced sale of RMT | 0.00% | 0.00% | 3.50% |
State Apportionment [Member] | IPL [Member] | |||
Effective Tax Rate [Line Items] | |||
State apportionment change due to announced sale of RMT | 0.00% | 0.00% | 6.20% |
State Apportionment [Member] | WPL [Member] | |||
Effective Tax Rate [Line Items] | |||
State apportionment change due to announced sale of RMT | 0.00% | 0.00% | 2.70% |
Income_Taxes_Production_Tax_Cr
Income Taxes (Production Tax Credits (Net Of State Tax Impacts)) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Production Tax Credits [Line Items] | |||
Production tax credits, net of state tax impacts | $31.30 | $31 | $24.80 |
IPL [Member] | |||
Production Tax Credits [Line Items] | |||
Production tax credits, net of state tax impacts | 14 | 14.4 | 12.5 |
WPL [Member] | |||
Production Tax Credits [Line Items] | |||
Production tax credits, net of state tax impacts | 17.3 | 16.6 | 12.3 |
Bent Tree - Phase I Wind Project [Member] | WPL [Member] | |||
Production Tax Credits [Line Items] | |||
Production tax credits, net of state tax impacts | 13.3 | 12.5 | 8.3 |
Whispering Willow - East Wind Project [Member] | IPL [Member] | |||
Production Tax Credits [Line Items] | |||
Production tax credits, net of state tax impacts | 14 | 14.4 | 12.5 |
Bent Tree - Phase I Wind Project [Member] | WPL [Member] | |||
Production Tax Credits [Line Items] | |||
Wind EGU capacity (in megawatts) | 201 | ||
Cedar Ridge Wind Project [Member] | WPL [Member] | |||
Production Tax Credits [Line Items] | |||
Wind EGU capacity (in megawatts) | 68 | ||
Production tax credits, net of state tax impacts | $4 | $4.10 | $4 |
Whispering Willow - East Wind Project [Member] | IPL [Member] | |||
Production Tax Credits [Line Items] | |||
Wind EGU capacity (in megawatts) | 200 |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current deferred tax assets | ($150.10) | ($136.70) |
Non-current deferred tax liabilities | 2,321.10 | 2,112.70 |
Deferred tax liabilities, net of deferred tax assets | 2,171 | 1,976 |
IPL [Member] | ||
Deferred tax assets, gross | -376.4 | -336 |
Deferred tax liabilities, gross | 1,612.90 | 1,441.30 |
Deferred tax assets and liabilities, net | 1,236.50 | 1,105.30 |
Current deferred tax assets | -104.9 | -87.7 |
Non-current deferred tax liabilities | 1,341.40 | 1,193 |
Deferred tax liabilities, net of deferred tax assets | 1,236.50 | 1,105.30 |
WPL [Member] | ||
Deferred tax assets, gross | -244.4 | -201.6 |
Deferred tax liabilities, gross | 1,176.90 | 1,055.40 |
Deferred tax assets and liabilities, net | 932.5 | 853.8 |
Current deferred tax assets | -37.5 | -43.3 |
Non-current deferred tax liabilities | 970 | 897.1 |
Deferred tax liabilities, net of deferred tax assets | 932.5 | 853.8 |
Property [Member] | ||
Deferred tax assets, gross | 0 | 0 |
Deferred tax liabilities, gross | 2,627.80 | 2,316.30 |
Deferred tax assets and liabilities, net | 2,627.80 | 2,316.30 |
Property [Member] | IPL [Member] | ||
Deferred tax assets, gross | 0 | 0 |
Deferred tax liabilities, gross | 1,531 | 1,338.10 |
Deferred tax assets and liabilities, net | 1,531 | 1,338.10 |
Property [Member] | WPL [Member] | ||
Deferred tax assets, gross | 0 | 0 |
Deferred tax liabilities, gross | 964.4 | 859.1 |
Deferred tax assets and liabilities, net | 964.4 | 859.1 |
Investment In ATC [Member] | ||
Deferred tax assets, gross | 0 | 0 |
Deferred tax liabilities, gross | 131.6 | 120.7 |
Deferred tax assets and liabilities, net | 131.6 | 120.7 |
Investment In ATC [Member] | WPL [Member] | ||
Deferred tax assets, gross | 0 | 0 |
Deferred tax liabilities, gross | 131.6 | 120.7 |
Deferred tax assets and liabilities, net | 131.6 | 120.7 |
Net operating losses carryforward - state [Member] | ||
Deferred tax assets, gross | -45.7 | -35.3 |
Deferred tax liabilities, gross | 0 | 0 |
Deferred tax assets and liabilities, net | -45.7 | -35.3 |
Regulatory liability - IPL's tax benefit riders [Member] | ||
Deferred tax assets, gross | -100.9 | -107.8 |
Deferred tax liabilities, gross | 0 | 0 |
Deferred tax assets and liabilities, net | -100.9 | -107.8 |
Regulatory liability - IPL's tax benefit riders [Member] | IPL [Member] | ||
Deferred tax assets, gross | -100.9 | -107.8 |
Deferred tax liabilities, gross | 0 | 0 |
Deferred tax assets and liabilities, net | -100.9 | -107.8 |
Federal credit carryforward [Member] | ||
Deferred tax assets, gross | -201 | -167.8 |
Deferred tax liabilities, gross | 0 | 0 |
Deferred tax assets and liabilities, net | -201 | -167.8 |
Federal credit carryforward [Member] | IPL [Member] | ||
Deferred tax assets, gross | -67.7 | -52.9 |
Deferred tax liabilities, gross | 0 | 0 |
Deferred tax assets and liabilities, net | -67.7 | -52.9 |
Federal credit carryforward [Member] | WPL [Member] | ||
Deferred tax assets, gross | -75.2 | -57.1 |
Deferred tax liabilities, gross | 0 | 0 |
Deferred tax assets and liabilities, net | -75.2 | -57.1 |
Net operating losses carryforward - federal [Member] | ||
Deferred tax assets, gross | -332.8 | -251.9 |
Deferred tax liabilities, gross | 0 | 0 |
Deferred tax assets and liabilities, net | -332.8 | -251.9 |
Net operating losses carryforward - federal [Member] | IPL [Member] | ||
Deferred tax assets, gross | -160.6 | -111.3 |
Deferred tax liabilities, gross | 0 | 0 |
Deferred tax assets and liabilities, net | -160.6 | -111.3 |
Net operating losses carryforward - federal [Member] | WPL [Member] | ||
Deferred tax assets, gross | -128.9 | -106.9 |
Deferred tax liabilities, gross | 0 | 0 |
Deferred tax assets and liabilities, net | -128.9 | -106.9 |
Other [Member] | ||
Deferred tax assets, gross | -88.1 | -108.9 |
Deferred tax liabilities, gross | 180.1 | 210.7 |
Deferred tax assets and liabilities, net | 92 | 101.8 |
Other [Member] | IPL [Member] | ||
Deferred tax assets, gross | -47.2 | -64 |
Deferred tax liabilities, gross | 81.9 | 103.2 |
Deferred tax assets and liabilities, net | 34.7 | 39.2 |
Other [Member] | WPL [Member] | ||
Deferred tax assets, gross | -40.3 | -37.6 |
Deferred tax liabilities, gross | 80.9 | 75.6 |
Deferred tax assets and liabilities, net | 40.6 | 38 |
Subtotal [Member] | ||
Deferred tax assets, gross | -768.5 | -671.7 |
Deferred tax liabilities, gross | 2,939.50 | 2,647.70 |
Deferred tax assets and liabilities, net | $2,171 | $1,976 |
Income_Taxes_Summary_Of_Tax_Cr
Income Taxes (Summary Of Tax Credit Carryforwards) (Details) (USD $) | Dec. 31, 2014 | |
In Millions, unless otherwise specified | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred tax assets, net operating losses | $580 | |
IPL [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred tax assets, net operating losses | 245 | |
WPL [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred tax assets, net operating losses | 213 | |
Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax carryforwards, net operating losses | 970 | |
Deferred tax assets, net operating losses | 333 | |
Tax carryforwards, tax credits | 204 | |
Deferred tax assets, tax credits | 201 | |
Federal [Member] | IPL [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax carryforwards, net operating losses | 468 | |
Deferred tax assets, net operating losses | 161 | |
Tax carryforwards, tax credits | 69 | |
Deferred tax assets, tax credits | 68 | |
Federal [Member] | WPL [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax carryforwards, net operating losses | 376 | |
Deferred tax assets, net operating losses | 129 | |
Tax carryforwards, tax credits | 77 | |
Deferred tax assets, tax credits | 75 | |
State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax carryforwards, net operating losses | 881 | [1] |
Deferred tax assets, net operating losses | 46 | [1] |
State [Member] | IPL [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax carryforwards, net operating losses | 291 | [2] |
Deferred tax assets, net operating losses | 16 | [2] |
State [Member] | WPL [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax carryforwards, net operating losses | 171 | [3] |
Deferred tax assets, net operating losses | $9 | [3] |
After 2024 [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net operating loss carryforwards, percentage expiring | 98.00% | |
After 2024 [Member] | IPL [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net operating loss carryforwards, percentage expiring | 96.00% | |
After 2024 [Member] | WPL [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net operating loss carryforwards, percentage expiring | 99.00% | |
[1] | At DecemberB 31, 2014, Alliant Energybs state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024. | |
[2] | At DecemberB 31, 2014, IPLbs state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024. | |
[3] | At DecemberB 31, 2014, WPLbs state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024. |
Income_Taxes_Schedule_Of_Uncer
Income Taxes (Schedule Of Uncertain Tax Positions) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Uncertain Tax Positions [Roll Forward] | ||||||
Balance, January 1 | $0 | $0.70 | $23.50 | |||
Additions based on tax positions related to the current year | 0 | 0 | 0.7 | |||
Reductions for tax positions of prior years | 0 | [1] | -0.7 | [1] | -23.5 | [1] |
Balance, December 31 | 0 | 0 | 0.7 | |||
Statute of limitations, expiration period from extended due date of federal tax return | 3 years | |||||
Statute of limitations, expiration period from extended due date of Iowa tax return | 3 years | |||||
Statute of limitations, expiration period from extended due date of Wisconsin tax return | 4 years | |||||
IPL [Member] | ||||||
Uncertain Tax Positions [Roll Forward] | ||||||
Balance, January 1 | 0 | 0 | 10.9 | |||
Additions based on tax positions related to the current year | 0 | 0 | 0 | |||
Reductions for tax positions of prior years | 0 | [1] | 0 | [1] | -10.9 | [1] |
Balance, December 31 | 0 | 0 | 0 | |||
WPL [Member] | ||||||
Uncertain Tax Positions [Roll Forward] | ||||||
Balance, January 1 | 0 | 0.7 | 12.6 | |||
Additions based on tax positions related to the current year | 0 | 0 | 0.7 | |||
Reductions for tax positions of prior years | 0 | [1] | -0.7 | [1] | -12.6 | [1] |
Balance, December 31 | $0 | $0 | $0.70 | |||
[1] | In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energybs federal income tax return audits for calendar years 2005 through 2009. |
Benefit_Plans_Narrative_Detail
Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2009 | Jan. 31, 2014 | Dec. 31, 2013 |
Benefit Plans [Line Items] | ||||
Total plan assets, percentage of common stock (less than 1%) | 1.00% | |||
Interest crediting rate, percentage above annual change in consumer price index | 3.00% | |||
Common stock percentage in assets held in 401(k) saving plans | 12.60% | 11.30% | ||
Unrecognized compensation cost | $6.50 | |||
Percentage of base salary and performance-based compensation | 100.00% | |||
Performance Shares and Units [Member] | ||||
Benefit Plans [Line Items] | ||||
Performance period | 3 years | |||
Expected volatility based on historical daily stock prices, historical period | 3 years | |||
Performance Shares [Member] | ||||
Benefit Plans [Line Items] | ||||
Performance multiplier range, lower | 0.00% | |||
Performance multiplier range, upper | 200.00% | |||
Performance Units [Member] | ||||
Benefit Plans [Line Items] | ||||
Performance multiplier range, lower | 0.00% | |||
Performance multiplier range, upper | 200.00% | |||
Minimum [Member] | ||||
Benefit Plans [Line Items] | ||||
Unrecognized compensation cost recognized over a weighted average period | 1 year | |||
Minimum [Member] | Performance-Contingent Restricted Stock [Member] | ||||
Benefit Plans [Line Items] | ||||
Performance period | 2 years | |||
Minimum [Member] | Performance Contingent Cash Awards [Member] | ||||
Benefit Plans [Line Items] | ||||
Performance period | 2 years | |||
Maximum [Member] | ||||
Benefit Plans [Line Items] | ||||
Unrecognized compensation cost recognized over a weighted average period | 2 years | |||
Maximum [Member] | Performance-Contingent Restricted Stock [Member] | ||||
Benefit Plans [Line Items] | ||||
Performance period | 4 years | |||
Maximum [Member] | Performance Contingent Cash Awards [Member] | ||||
Benefit Plans [Line Items] | ||||
Performance period | 4 years | |||
Other Postretirement Benefits Plans [Member] | ||||
Benefit Plans [Line Items] | ||||
Plan asset threshold for long-term allocation targets | 5 | |||
Other Postretirement Benefits Plans [Member] | Cash Balance Plan [Member] | ||||
Benefit Plans [Line Items] | ||||
Final judgment from court order | 9 | |||
Plaintiffs' attorney's fees and costs | $6.70 | |||
Omnibus Incentive Plan [Member] | ||||
Benefit Plans [Line Items] | ||||
Shares available for issuance under the OIP | 3.9 |
Benefit_Plans_Assumptions_Used
Benefit Plans (Assumptions Used To Measure Benefit Plans) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for benefit obligations | 4.18% | 4.97% | 4.11% |
Discount rate for net periodic cost | 4.97% | 4.11% | 4.86% |
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% |
Pension Plans, Defined Benefit [Member] | IPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% |
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% |
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% |
Rate of compensation increase | 3.50% | 3.50% | 3.50% |
Pension Plans, Defined Benefit [Member] | WPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for benefit obligations | 4.20% | 5.05% | 4.20% |
Discount rate for net periodic cost | 5.05% | 4.20% | 4.95% |
Expected rate of return on plan assets | 7.60% | 7.60% | 7.90% |
Rate of compensation increase | 3.50% | 3.50% | 3.50% |
Other Postretirement Benefits Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for benefit obligations | 3.97% | 4.59% | 3.82% |
Discount rate for net periodic cost | 4.59% | 3.82% | 4.60% |
Expected rate of return on plan assets | 7.40% | 7.40% | 7.50% |
Rate of compensation increase | 3.50% | 3.50% | |
Medical cost trend on covered charges, initial trend rate (end of year) | 6.75% | 7.00% | 7.50% |
Medical cost trend on covered charges, ultimate trend rate | 5.00% | 5.00% | 5.00% |
Other Postretirement Benefits Plans [Member] | IPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for benefit obligations | 3.94% | 4.55% | 3.76% |
Discount rate for net periodic cost | 4.55% | 3.76% | 4.60% |
Expected rate of return on plan assets | 7.60% | 7.50% | 7.40% |
Rate of compensation increase | 3.50% | 3.50% | |
Medical cost trend on covered charges, initial trend rate (end of year) | 6.75% | 7.00% | 7.50% |
Medical cost trend on covered charges, ultimate trend rate | 5.00% | 5.00% | 5.00% |
Other Postretirement Benefits Plans [Member] | WPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for benefit obligations | 3.96% | 4.56% | 3.81% |
Discount rate for net periodic cost | 4.56% | 3.81% | 4.60% |
Expected rate of return on plan assets | 7.30% | 7.20% | 7.00% |
Rate of compensation increase | 3.50% | 3.50% | |
Medical cost trend on covered charges, initial trend rate (end of year) | 6.75% | 7.00% | 7.50% |
Medical cost trend on covered charges, ultimate trend rate | 5.00% | 5.00% | 5.00% |
Minimum [Member] | Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Rate of compensation increase | 3.50% | 3.50% | 3.50% |
Maximum [Member] | Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Rate of compensation increase | 4.50% | 4.50% | 4.50% |
Benefit_Plans_Defined_Benefit_
Benefit Plans (Defined Benefit Pension And Other Postretirement Benefits Plans) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Defined Benefit Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | $13.10 | $15.70 | $13.50 | |||
Interest cost | 54.1 | 49 | 51.6 | |||
Expected return on plan assets | -74.9 | [1] | -74 | [1] | -68.8 | [1] |
Amortization of prior service cost (credit) | 0 | 0.2 | 0.3 | |||
Amortization of actuarial loss | 19.5 | [2] | 36.2 | [2] | 33.3 | [2] |
Additional benefit costs | 0 | 9 | [3] | 0.1 | ||
Settlement losses | 0 | 0 | 5.4 | [4] | ||
Total | 11.8 | 36.1 | 35.4 | |||
Other Postretirement Benefits Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 5.2 | 6.3 | 6.9 | |||
Interest cost | 9.5 | 8.5 | 10.2 | |||
Expected return on plan assets | -8.3 | [1] | -8.1 | [1] | -7.5 | [1] |
Amortization of prior service cost (credit) | -11.9 | [5] | -11.9 | [5] | -12 | [5] |
Amortization of actuarial loss | 2.4 | [2] | 4.9 | [2] | 6.3 | [2] |
Additional benefit costs | 0 | 0 | 0 | |||
Settlement losses | 0 | 0 | 0 | |||
Total | -3.1 | -0.3 | 3.9 | |||
Cash Balance Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Additional benefit costs | 9 | |||||
IPL [Member] | Defined Benefit Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 7.2 | 8.6 | 7.5 | |||
Interest cost | 25.1 | 22.9 | 24.1 | |||
Expected return on plan assets | -35.7 | [1] | -35.2 | [1] | -32.6 | [1] |
Amortization of prior service cost (credit) | 0 | 0.1 | 0.2 | |||
Amortization of actuarial loss | 8 | [2] | 15.2 | [2] | 14.1 | [2] |
Additional benefit costs | 0 | 2.6 | [3] | 0 | ||
Total | 4.6 | 14.2 | 13.3 | |||
IPL [Member] | Other Postretirement Benefits Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 2.4 | 2.9 | 3 | |||
Interest cost | 3.9 | 3.6 | 4.4 | |||
Expected return on plan assets | -5.8 | [1] | -5.6 | [1] | -5.1 | [1] |
Amortization of prior service cost (credit) | -6.3 | [5] | -6.3 | [5] | -6.3 | [5] |
Amortization of actuarial loss | 1.1 | [2] | 2.7 | [2] | 3.5 | [2] |
Additional benefit costs | 0 | 0 | 0 | |||
Total | -4.7 | -2.7 | -0.5 | |||
IPL [Member] | Directly assigned defined benefit pension plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Additional benefit costs | 2.6 | |||||
IPL [Member] | Cash Balance Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Additional benefit costs | 5.5 | |||||
IPL [Member] | Corporate Service Allocation [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Additional benefit costs | 2.9 | |||||
WPL [Member] | Defined Benefit Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 4.9 | 5.9 | 5.2 | |||
Interest cost | 22.6 | 20.7 | 21.6 | |||
Expected return on plan assets | -32.4 | [1] | -31.9 | [1] | -29.6 | [1] |
Amortization of prior service cost (credit) | 0.3 | 0.3 | 0.4 | |||
Amortization of actuarial loss | 9.2 | [2] | 17.1 | [2] | 15.7 | [2] |
Additional benefit costs | 0 | 0.6 | [3] | 0.1 | ||
Total | 4.6 | 12.7 | 13.4 | |||
WPL [Member] | Other Postretirement Benefits Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 2 | 2.5 | 2.7 | |||
Interest cost | 3.8 | 3.4 | 4.1 | |||
Expected return on plan assets | -1.3 | [1] | -1.3 | [1] | -1.3 | [1] |
Amortization of prior service cost (credit) | -3.9 | [5] | -3.9 | [5] | -3.9 | [5] |
Amortization of actuarial loss | 1.3 | [2] | 1.9 | [2] | 2.3 | [2] |
Additional benefit costs | 0 | 0 | 0 | |||
Total | 1.9 | 2.6 | 3.9 | |||
WPL [Member] | Directly assigned defined benefit pension plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Additional benefit costs | 0.6 | |||||
WPL [Member] | Cash Balance Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Additional benefit costs | 2.8 | |||||
WPL [Member] | Corporate Service Allocation [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Additional benefit costs | $2.20 | |||||
[1] | 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. | |||||
[2] | Unrecognized net actuarial gains or losses in excess of 10% of the greater of the plansb benefit obligations or assets are amortized over the average future service lives of plan participants, except for the Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits. | |||||
[3] | In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement. | |||||
[4] | Settlement losses related to payments made to retired executives of Alliant Energy. | |||||
[5] | 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. |
Benefit_Plans_Schedule_Of_Qual
Benefit Plans (Schedule Of Qualified And Non-Qualified Pension And Other Post Retirement Benefits Costs) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Pension Plans, Defined Benefit [Member] | IPL [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Allocated qualified and non-qualified costs (credits) | $1.40 | [1] | $4.80 | [1] | $4.90 | [1] |
Pension Plans, Defined Benefit [Member] | WPL [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Allocated qualified and non-qualified costs (credits) | 1.1 | [1] | 3.6 | [1] | 3.6 | [1] |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Allocated qualified and non-qualified costs (credits) | -0.3 | -0.3 | 0.1 | |||
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Allocated qualified and non-qualified costs (credits) | ($0.20) | ($0.20) | $0.10 | |||
[1] | Refer to IPLbs and WPLbs bNet Periodic Benefit Costs (Credits)b tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013. |
Benefit_Plans_Estimated_Amorit
Benefit Plans (Estimated Amoritization From Regulatory Assets, Regulatory Liabilities And Accumulated Other Comprehensive Loss) (Details) (Scenario, Forecast [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2015 |
Defined Benefit Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Actuarial loss | $35.40 |
Prior service cost (credit) | -0.3 |
Estimated amortization from regulatory assets, regulatory liabilities and AOCL | 35.1 |
Defined Benefit Pension Plans [Member] | IPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Actuarial loss | 15.3 |
Prior service cost (credit) | -0.1 |
Estimated amortization from regulatory assets, regulatory liabilities and AOCL | 15.2 |
Defined Benefit Pension Plans [Member] | WPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Actuarial loss | 16.8 |
Prior service cost (credit) | 0.2 |
Estimated amortization from regulatory assets, regulatory liabilities and AOCL | 17 |
Other Postretirement Benefits Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Actuarial loss | 4.9 |
Prior service cost (credit) | -11.3 |
Estimated amortization from regulatory assets, regulatory liabilities and AOCL | -6.4 |
Other Postretirement Benefits Plans [Member] | IPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Actuarial loss | 2.3 |
Prior service cost (credit) | -6.1 |
Estimated amortization from regulatory assets, regulatory liabilities and AOCL | -3.8 |
Other Postretirement Benefits Plans [Member] | WPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Actuarial loss | 2.3 |
Prior service cost (credit) | -3.5 |
Estimated amortization from regulatory assets, regulatory liabilities and AOCL | ($1.20) |
Benefit_Plans_Funded_Status_of
Benefit Plans (Funded Status of Benefits Plans) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Plans, Defined Benefit [Member] | |||
Change in benefit obligation: | |||
Net benefit obligation at January 1 | $1,113.40 | $1,207.50 | |
Service cost | 13.1 | 15.7 | 13.5 |
Interest cost | 54.1 | 49 | 51.6 |
Plan participants' contributions | 0 | 0 | |
Additional benefit costs | 0 | 9 | |
Actuarial (gain) loss | 195.8 | -94.1 | |
Gross benefits paid | -74.9 | -73.7 | |
Net benefit obligation at December 31 | 1,301.50 | 1,113.40 | 1,207.50 |
Change in plan assets: | |||
Fair value of plan assets at January 1 | 1,022.90 | 965.6 | |
Actual return on plan assets | 66.4 | 128.5 | |
Employer contributions | 3.7 | 2.5 | |
Plan participants' contributions | 0 | 0 | |
Gross benefits paid | -74.9 | -73.7 | |
Fair value of plan assets at December 31 | 1,018.10 | 1,022.90 | 965.6 |
Under funded status at December 31 | -283.4 | -90.5 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | |||
Change in benefit obligation: | |||
Net benefit obligation at January 1 | 514 | 559.2 | |
Service cost | 7.2 | 8.6 | 7.5 |
Interest cost | 25.1 | 22.9 | 24.1 |
Plan participants' contributions | 0 | 0 | |
Additional benefit costs | 0 | 2.6 | |
Actuarial (gain) loss | 91.4 | -44.3 | |
Gross benefits paid | -34.6 | -35 | |
Net benefit obligation at December 31 | 603.1 | 514 | 559.2 |
Change in plan assets: | |||
Fair value of plan assets at January 1 | 485.9 | 458.8 | |
Actual return on plan assets | 32.1 | 61.2 | |
Employer contributions | 1.3 | 0.9 | |
Plan participants' contributions | 0 | 0 | |
Gross benefits paid | -34.6 | -35 | |
Fair value of plan assets at December 31 | 484.7 | 485.9 | 458.8 |
Under funded status at December 31 | -118.4 | -28.1 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | |||
Change in benefit obligation: | |||
Net benefit obligation at January 1 | 460.8 | 506.7 | |
Service cost | 4.9 | 5.9 | 5.2 |
Interest cost | 22.6 | 20.7 | 21.6 |
Plan participants' contributions | 0 | 0 | |
Additional benefit costs | 0 | 0.6 | |
Actuarial (gain) loss | 86.7 | -41.1 | |
Gross benefits paid | -27.4 | -32 | |
Net benefit obligation at December 31 | 547.6 | 460.8 | 506.7 |
Change in plan assets: | |||
Fair value of plan assets at January 1 | 438.8 | 415.4 | |
Actual return on plan assets | 28.6 | 55.2 | |
Employer contributions | 0.3 | 0.2 | |
Plan participants' contributions | 0 | 0 | |
Gross benefits paid | -27.4 | -32 | |
Fair value of plan assets at December 31 | 440.3 | 438.8 | 415.4 |
Under funded status at December 31 | -107.3 | -22 | |
Other Postretirement Benefits Plans [Member] | |||
Change in benefit obligation: | |||
Net benefit obligation at January 1 | 208.7 | 223.2 | |
Service cost | 5.2 | 6.3 | 6.9 |
Interest cost | 9.5 | 8.5 | 10.2 |
Plan participants' contributions | 2.8 | 2.6 | |
Additional benefit costs | 0 | 0 | |
Actuarial (gain) loss | 22.3 | -13.2 | |
Gross benefits paid | -17.4 | -18.7 | |
Net benefit obligation at December 31 | 231.1 | 208.7 | 223.2 |
Change in plan assets: | |||
Fair value of plan assets at January 1 | 124.9 | 123.1 | |
Actual return on plan assets | 5.6 | 14.4 | |
Employer contributions | 5.7 | 3.5 | |
Plan participants' contributions | 2.8 | 2.6 | |
Gross benefits paid | -17.4 | -18.7 | |
Fair value of plan assets at December 31 | 121.6 | 124.9 | 123.1 |
Under funded status at December 31 | -109.5 | -83.8 | |
Other Postretirement Benefits Plans [Member] | IPL [Member] | |||
Change in benefit obligation: | |||
Net benefit obligation at January 1 | 87.8 | 96 | |
Service cost | 2.4 | 2.9 | 3 |
Interest cost | 3.9 | 3.6 | 4.4 |
Plan participants' contributions | 0.9 | 0.9 | |
Additional benefit costs | 0 | 0 | |
Actuarial (gain) loss | 8.6 | -7 | |
Gross benefits paid | -7.2 | -8.6 | |
Net benefit obligation at December 31 | 96.4 | 87.8 | 96 |
Change in plan assets: | |||
Fair value of plan assets at January 1 | 81.2 | 78.8 | |
Actual return on plan assets | 3.6 | 10 | |
Employer contributions | 0.2 | 0.1 | |
Plan participants' contributions | 0.9 | 0.9 | |
Gross benefits paid | -7.2 | -8.6 | |
Fair value of plan assets at December 31 | 78.7 | 81.2 | 78.8 |
Under funded status at December 31 | -17.7 | -6.6 | |
Other Postretirement Benefits Plans [Member] | WPL [Member] | |||
Change in benefit obligation: | |||
Net benefit obligation at January 1 | 85.6 | 89.1 | |
Service cost | 2 | 2.5 | 2.7 |
Interest cost | 3.8 | 3.4 | 4.1 |
Plan participants' contributions | 1.3 | 1.2 | |
Additional benefit costs | 0 | 0 | |
Actuarial (gain) loss | 9.2 | -3 | |
Gross benefits paid | -7.9 | -7.6 | |
Net benefit obligation at December 31 | 94 | 85.6 | 89.1 |
Change in plan assets: | |||
Fair value of plan assets at January 1 | 21.7 | 22.3 | |
Actual return on plan assets | 1.2 | 2.5 | |
Employer contributions | 5.5 | 3.3 | |
Plan participants' contributions | 1.3 | 1.2 | |
Gross benefits paid | -7.9 | -7.6 | |
Fair value of plan assets at December 31 | 21.8 | 21.7 | 22.3 |
Under funded status at December 31 | ($72.20) | ($63.90) |
Benefit_Plans_Amounts_Recogniz
Benefit Plans (Amounts Recognized On The Consolidated Balance Sheets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Amounts recognized on the balance sheets consist of: | ||||
Pension and other benefit obligations | ($421.70) | ($206.60) | ||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||
Regulatory liability recognized related to other postretirement benefit plans | 1.1 | 5.1 | ||
Pension Plans, Defined Benefit [Member] | ||||
Amounts recognized on the balance sheets consist of: | ||||
Non-current assets | 0 | 0 | ||
Other current liabilities | -2.5 | -2.4 | ||
Pension and other benefit obligations | -280.9 | -88.1 | ||
Net amounts recognized at December 31 | -283.4 | -90.5 | ||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||
Net actuarial loss | 533.4 | [1] | 348.6 | [1] |
Prior service credit | -7.4 | [1] | -7.4 | [1] |
Net amount recognized at December 31 | 526 | [1] | 341.2 | [1] |
Other Postretirement Benefits Plans [Member] | ||||
Amounts recognized on the balance sheets consist of: | ||||
Non-current assets | 6.1 | 14.5 | ||
Other current liabilities | -5.6 | -4.8 | ||
Pension and other benefit obligations | -110 | -93.5 | ||
Net amounts recognized at December 31 | -109.5 | -83.8 | ||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||
Net actuarial loss | 60.7 | [1] | 38.1 | [1] |
Prior service credit | -16.7 | [1] | -28.6 | [1] |
Net amount recognized at December 31 | 44 | [1] | 9.5 | [1] |
IPL [Member] | ||||
Amounts recognized on the balance sheets consist of: | ||||
Pension and other benefit obligations | -142.4 | -48.6 | ||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||
Regulatory liability recognized related to other postretirement benefit plans | 0 | 1 | ||
IPL [Member] | Pension Plans, Defined Benefit [Member] | ||||
Amounts recognized on the balance sheets consist of: | ||||
Non-current assets | 0 | 0 | ||
Other current liabilities | -0.8 | -0.8 | ||
Pension and other benefit obligations | -117.6 | -27.3 | ||
Net amounts recognized at December 31 | -118.4 | -28.1 | ||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||
Net actuarial loss | 233.1 | [2] | 146.1 | [2] |
Prior service credit | -2.6 | [2] | -2.6 | [2] |
Net amount recognized at December 31 | 230.5 | [2] | 143.5 | [2] |
IPL [Member] | Other Postretirement Benefits Plans [Member] | ||||
Amounts recognized on the balance sheets consist of: | ||||
Non-current assets | 1.2 | 8.8 | ||
Other current liabilities | 0 | 0 | ||
Pension and other benefit obligations | -18.9 | -15.4 | ||
Net amounts recognized at December 31 | -17.7 | -6.6 | ||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||
Net actuarial loss | 27.9 | [2] | 18.2 | [2] |
Prior service credit | -8.7 | [2] | -15 | [2] |
Net amount recognized at December 31 | 19.2 | [2] | 3.2 | [2] |
WPL [Member] | ||||
Amounts recognized on the balance sheets consist of: | ||||
Pension and other benefit obligations | -180.4 | -88.4 | ||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||
Regulatory liability recognized related to other postretirement benefit plans | 1.1 | 1.1 | ||
WPL [Member] | Pension Plans, Defined Benefit [Member] | ||||
Amounts recognized on the balance sheets consist of: | ||||
Non-current assets | 0 | 0 | ||
Other current liabilities | -0.1 | -0.2 | ||
Pension and other benefit obligations | -107.2 | -21.8 | ||
Net amounts recognized at December 31 | -107.3 | -22 | ||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||
Net actuarial loss | 233.5 | [3] | 152.2 | [3] |
Prior service credit | -1 | [3] | -0.7 | [3] |
Net amount recognized at December 31 | 232.5 | [3] | 151.5 | [3] |
WPL [Member] | Other Postretirement Benefits Plans [Member] | ||||
Amounts recognized on the balance sheets consist of: | ||||
Non-current assets | 4.9 | 5.8 | ||
Other current liabilities | -5.5 | -4.8 | ||
Pension and other benefit obligations | -71.6 | -64.9 | ||
Net amounts recognized at December 31 | -72.2 | -63.9 | ||
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a): | ||||
Net actuarial loss | 26.3 | [3] | 18.3 | [3] |
Prior service credit | -5.6 | [3] | -9.5 | [3] |
Net amount recognized at December 31 | $20.70 | [3] | $8.80 | [3] |
[1] | Refer to Note 2 and Alliant Energybs common equity statements for amounts recognized in bRegulatory assetsb and bAOCL,b respectively, on Alliant Energybs balance sheets. At DecemberB 31, 2014 and 2013, $1.1 million and $5.1 million, respectively, of regulatory liabilities were recognized related to Alliant Energybs OPEB plans. | |||
[2] | Refer to Note 2 for amounts recognized in bRegulatory assetsb on IPLbs balance sheets. At DecemberB 31, 2014 and 2013, $0 and $1.0 million, respectively, of regulatory liabilities were recognized related to IPLbs OPEB plans. | |||
[3] | Refer to Note 2 for amounts recognized in bRegulatory assetsb on WPLbs balance sheets. At DecemberB 31, 2014 and 2013, $1.1 million and $1.1 million, respectively, of regulatory liabilities were recognized related to WPLbs OPEB plans. |
Benefit_Plans_Accumulated_Bene
Benefit Plans (Accumulated Benefit Obligations) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | $1,255 | $1,071.70 |
Plans with accumulated benefit obligations in excess of plan assets: | ||
Accumulated benefit obligations | 1,255 | 406.5 |
Fair value of plan assets | 1,018.10 | 347.6 |
Plans with projected benefit obligations in excess of plan assets: | ||
Projected benefit obligations | 1,301.50 | 1,113.40 |
Fair value of plan assets | 1,018.10 | 1,022.90 |
Other Postretirement Benefits Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | 231.1 | 208.7 |
Plans with accumulated benefit obligations in excess of plan assets: | ||
Accumulated benefit obligations | 231.1 | 208.7 |
Fair value of plan assets | 121.6 | 124.9 |
IPL [Member] | Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | 575.5 | 491.5 |
Plans with accumulated benefit obligations in excess of plan assets: | ||
Accumulated benefit obligations | 575.5 | 159.3 |
Fair value of plan assets | 484.7 | 144.6 |
Plans with projected benefit obligations in excess of plan assets: | ||
Projected benefit obligations | 603.1 | 514 |
Fair value of plan assets | 484.7 | 485.9 |
IPL [Member] | Other Postretirement Benefits Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | 96.4 | 87.8 |
Plans with accumulated benefit obligations in excess of plan assets: | ||
Accumulated benefit obligations | 96.4 | 87.8 |
Fair value of plan assets | 78.7 | 81.2 |
WPL [Member] | Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | 532.5 | 446.7 |
Plans with accumulated benefit obligations in excess of plan assets: | ||
Accumulated benefit obligations | 532.5 | 115.6 |
Fair value of plan assets | 440.3 | 106.8 |
Plans with projected benefit obligations in excess of plan assets: | ||
Projected benefit obligations | 547.6 | 460.8 |
Fair value of plan assets | 440.3 | 438.8 |
WPL [Member] | Other Postretirement Benefits Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | 94 | 85.6 |
Plans with accumulated benefit obligations in excess of plan assets: | ||
Accumulated benefit obligations | 94 | 85.6 |
Fair value of plan assets | $21.80 | $21.70 |
Benefit_Plans_Regulatory_Asset
Benefit Plans (Regulatory Assets and Regulatory Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
IPL [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Regulatory assets | $38.20 | $26.50 |
Regulatory liabilities | 0 | 1.7 |
WPL [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Regulatory assets | 28 | 19.8 |
Regulatory liabilities | $0 | $1.30 |
Benefit_Plans_Estimated_Future
Benefit Plans (Estimated Future Funding) (Details) (Scenario, Forecast [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2015 | |
Defined Benefit Plans Qualified And Non Qualified Pension Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Estimated funding for calendar year 2015 | $2.50 | [1] |
Defined Benefit Plans Qualified And Non Qualified Pension Benefits [Member] | IPL [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Estimated funding for calendar year 2015 | 0.8 | [1] |
Defined Benefit Plans Qualified And Non Qualified Pension Benefits [Member] | WPL [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Estimated funding for calendar year 2015 | 0.2 | [1] |
Other Postretirement Benefits Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Estimated funding for calendar year 2015 | 5.7 | |
Other Postretirement Benefits Plans [Member] | IPL [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Estimated funding for calendar year 2015 | 0 | |
Other Postretirement Benefits Plans [Member] | WPL [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Estimated funding for calendar year 2015 | $5.50 | |
[1] | 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. |
Benefit_Plans_Expected_Benefit
Benefit Plans (Expected Benefit Payments) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected benefit payments, 2015 | $84.30 |
Expected benefit payments, 2016 | 88.3 |
Expected benefit payments, 2017 | 86 |
Expected benefit payments, 2018 | 89.8 |
Expected benefit payments, 2019 | 90.6 |
Expected benefit payments, 2020 - 2024 | 480.1 |
Defined Benefit Plans Qualified And Non Qualified Pension Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected benefit payments, 2015 | 66.7 |
Expected benefit payments, 2016 | 71.5 |
Expected benefit payments, 2017 | 69.3 |
Expected benefit payments, 2018 | 72.9 |
Expected benefit payments, 2019 | 73.6 |
Expected benefit payments, 2020 - 2024 | 396.1 |
Other Postretirement Benefits Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected benefit payments, 2015 | 17.6 |
Expected benefit payments, 2016 | 16.8 |
Expected benefit payments, 2017 | 16.7 |
Expected benefit payments, 2018 | 16.9 |
Expected benefit payments, 2019 | 17 |
Expected benefit payments, 2020 - 2024 | 84 |
IPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected benefit payments, 2015 | 37.8 |
Expected benefit payments, 2016 | 38.8 |
Expected benefit payments, 2017 | 40.3 |
Expected benefit payments, 2018 | 42.1 |
Expected benefit payments, 2019 | 41.9 |
Expected benefit payments, 2020 - 2024 | 225.2 |
IPL [Member] | Defined Benefit Plans Qualified And Non Qualified Pension Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected benefit payments, 2015 | 30.4 |
Expected benefit payments, 2016 | 31.6 |
Expected benefit payments, 2017 | 33.1 |
Expected benefit payments, 2018 | 34.9 |
Expected benefit payments, 2019 | 34.7 |
Expected benefit payments, 2020 - 2024 | 189.9 |
IPL [Member] | Other Postretirement Benefits Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected benefit payments, 2015 | 7.4 |
Expected benefit payments, 2016 | 7.2 |
Expected benefit payments, 2017 | 7.2 |
Expected benefit payments, 2018 | 7.2 |
Expected benefit payments, 2019 | 7.2 |
Expected benefit payments, 2020 - 2024 | 35.3 |
WPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected benefit payments, 2015 | 36.1 |
Expected benefit payments, 2016 | 35 |
Expected benefit payments, 2017 | 35.8 |
Expected benefit payments, 2018 | 37.1 |
Expected benefit payments, 2019 | 37.6 |
Expected benefit payments, 2020 - 2024 | 197.6 |
WPL [Member] | Defined Benefit Plans Qualified And Non Qualified Pension Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected benefit payments, 2015 | 28.4 |
Expected benefit payments, 2016 | 28 |
Expected benefit payments, 2017 | 28.8 |
Expected benefit payments, 2018 | 30.1 |
Expected benefit payments, 2019 | 30.5 |
Expected benefit payments, 2020 - 2024 | 163.4 |
WPL [Member] | Other Postretirement Benefits Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected benefit payments, 2015 | 7.7 |
Expected benefit payments, 2016 | 7 |
Expected benefit payments, 2017 | 7 |
Expected benefit payments, 2018 | 7 |
Expected benefit payments, 2019 | 7.1 |
Expected benefit payments, 2020 - 2024 | $34.20 |
Benefit_Plans_Allocation_Of_Pl
Benefit Plans (Allocation Of Plan Assets) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Pension Plans, Defined Benefit [Member] | Cash and Equivalents [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 0.00% |
Target range allocation, maximum | 5.00% |
Actual allocation | 5.00% |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Core [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 8.00% |
Target range allocation, maximum | 18.00% |
Actual allocation | 13.00% |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Value [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 2.50% |
Target range allocation, maximum | 12.50% |
Actual allocation | 7.00% |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Growth [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 2.50% |
Target range allocation, maximum | 12.50% |
Actual allocation | 7.00% |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Value [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 0.00% |
Target range allocation, maximum | 4.00% |
Actual allocation | 1.00% |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Growth [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 0.00% |
Target range allocation, maximum | 4.00% |
Actual allocation | 2.00% |
Pension Plans, Defined Benefit [Member] | International - Developed Markets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 7.00% |
Target range allocation, maximum | 19.00% |
Actual allocation | 10.00% |
Pension Plans, Defined Benefit [Member] | International - Emerging Markets [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 0.00% |
Target range allocation, maximum | 10.00% |
Actual allocation | 5.00% |
Pension Plans, Defined Benefit [Member] | Global Asset Allocation Securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 5.00% |
Target range allocation, maximum | 15.00% |
Actual allocation | 10.00% |
Pension Plans, Defined Benefit [Member] | Risk Parity Allocation Securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 5.00% |
Target range allocation, maximum | 15.00% |
Actual allocation | 10.00% |
Pension Plans, Defined Benefit [Member] | Fixed Income Securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 20.00% |
Target range allocation, maximum | 40.00% |
Actual allocation | 30.00% |
Other Postretirement Benefits Plans [Member] | Cash and Equivalents [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 0.00% |
Target range allocation, maximum | 5.00% |
Actual allocation | 2.00% |
Other Postretirement Benefits Plans [Member] | Domestic [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 25.00% |
Target range allocation, maximum | 45.00% |
Actual allocation | 36.00% |
Other Postretirement Benefits Plans [Member] | International [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 10.00% |
Target range allocation, maximum | 20.00% |
Actual allocation | 14.00% |
Other Postretirement Benefits Plans [Member] | Global Asset Allocation Securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 20.00% |
Target range allocation, maximum | 40.00% |
Actual allocation | 29.00% |
Other Postretirement Benefits Plans [Member] | Fixed Income Securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Target range allocation, minimum | 10.00% |
Target range allocation, maximum | 30.00% |
Actual allocation | 19.00% |
Benefit_Plans_Fair_Value_Of_Pl
Benefit Plans (Fair Value Of Plan Assets By Asset Category And Fair Value Hierarchy Level) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $1,018.10 | $1,022.90 | $965.60 |
Total plan assets | 1,018.10 | 1,022.90 | |
Pension Plans, Defined Benefit [Member] | Cash and Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 49.3 | 32.6 | |
Pension Plans, Defined Benefit [Member] | Cash and Equivalents [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Cash and Equivalents [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 49.3 | 32.6 | |
Pension Plans, Defined Benefit [Member] | Cash and Equivalents [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Core [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 137.2 | 134.1 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Core [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 137.2 | 134.1 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Core [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Core [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 72.2 | 77 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 72.2 | 77 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 73.2 | 77.4 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 73.2 | 77.4 | |
Pension Plans, Defined Benefit [Member] | U.S. Large Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 15.2 | 20.7 | |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 15.2 | 20.7 | |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 15.9 | 20.8 | |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 15.9 | 20.8 | |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | U.S. Small Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | International - Developed Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 102.9 | 136.3 | |
Pension Plans, Defined Benefit [Member] | International - Developed Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 52.1 | 68 | |
Pension Plans, Defined Benefit [Member] | International - Developed Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 50.8 | 68.3 | |
Pension Plans, Defined Benefit [Member] | International - Developed Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | International - Emerging Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 47.2 | 48.4 | |
Pension Plans, Defined Benefit [Member] | International - Emerging Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 47.2 | 48.4 | |
Pension Plans, Defined Benefit [Member] | International - Emerging Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | International - Emerging Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Global Asset Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 99.9 | 99.1 | |
Pension Plans, Defined Benefit [Member] | Global Asset Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 57.2 | 56.7 | |
Pension Plans, Defined Benefit [Member] | Global Asset Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 42.7 | 42.4 | |
Pension Plans, Defined Benefit [Member] | Global Asset Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Risk Parity Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 102.5 | 96.1 | |
Pension Plans, Defined Benefit [Member] | Risk Parity Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Risk Parity Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 102.5 | 96.1 | |
Pension Plans, Defined Benefit [Member] | Risk Parity Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Corporate Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 29.2 | |
Pension Plans, Defined Benefit [Member] | Corporate Bonds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Corporate Bonds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 29.2 | |
Pension Plans, Defined Benefit [Member] | Corporate Bonds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Government and Agency Obligation [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 49.1 | |
Pension Plans, Defined Benefit [Member] | Government and Agency Obligation [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Government and Agency Obligation [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 49.1 | |
Pension Plans, Defined Benefit [Member] | Government and Agency Obligation [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Fixed Income Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 302.7 | 202.2 | |
Pension Plans, Defined Benefit [Member] | Fixed Income Funds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.2 | 0.2 | |
Pension Plans, Defined Benefit [Member] | Fixed Income Funds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 302.5 | 202 | |
Pension Plans, Defined Benefit [Member] | Fixed Income Funds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Subtotal [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,018.30 | 1,023 | |
Pension Plans, Defined Benefit [Member] | Subtotal [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 309.8 | 328.2 | |
Pension Plans, Defined Benefit [Member] | Subtotal [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 708.5 | 694.8 | |
Pension Plans, Defined Benefit [Member] | Subtotal [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | Accrued Investment Income [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.7 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 484.7 | 485.9 | 458.8 |
Total plan assets | 484.7 | 485.9 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Cash and Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 23.5 | 15.4 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Cash and Equivalents [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Cash and Equivalents [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 23.5 | 15.4 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Cash and Equivalents [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Core [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 65.3 | 63.7 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Core [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 65.3 | 63.7 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Core [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Core [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 34.4 | 36.6 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 34.4 | 36.6 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 34.9 | 36.8 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 34.9 | 36.8 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.2 | 9.8 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.2 | 9.8 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.6 | 9.9 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.6 | 9.9 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | International - Developed Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 49 | 64.8 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | International - Developed Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 24.8 | 32.3 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | International - Developed Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 24.2 | 32.5 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | International - Developed Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | International - Emerging Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 22.5 | 23 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | International - Emerging Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 22.5 | 23 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | International - Emerging Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | International - Emerging Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Global Asset Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 47.5 | 47.1 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Global Asset Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 27.2 | 27 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Global Asset Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 20.3 | 20.1 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Global Asset Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Risk Parity Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 48.8 | 45.7 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Risk Parity Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Risk Parity Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 48.8 | 45.7 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Risk Parity Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Corporate Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 13.9 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Corporate Bonds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Corporate Bonds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 13.9 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Corporate Bonds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Government and Agency Obligation [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 23.3 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Government and Agency Obligation [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Government and Agency Obligation [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 23.3 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Government and Agency Obligation [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Fixed Income Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 144.1 | 96.1 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Fixed Income Funds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.1 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Fixed Income Funds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 144 | 96 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Fixed Income Funds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Subtotal [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 484.8 | 486.1 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Subtotal [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 147.5 | 156 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Subtotal [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 337.3 | 330.1 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Subtotal [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | IPL [Member] | Accrued Investment Income [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.2 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 440.3 | 438.8 | 415.4 |
Total plan assets | 440.3 | 438.8 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Cash and Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 21.3 | 14 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Cash and Equivalents [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Cash and Equivalents [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 21.3 | 14 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Cash and Equivalents [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Core [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 59.3 | 57.5 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Core [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 59.3 | 57.5 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Core [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Core [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 31.3 | 33.1 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 31.3 | 33.1 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 31.7 | 33.2 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 31.7 | 33.2 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 6.6 | 8.9 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 6.6 | 8.9 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 6.9 | 8.9 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 6.9 | 8.9 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | International - Developed Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 44.5 | 58.5 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | International - Developed Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 22.5 | 29.2 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | International - Developed Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 22 | 29.3 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | International - Developed Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | International - Emerging Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 20.4 | 20.8 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | International - Emerging Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 20.4 | 20.8 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | International - Emerging Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | International - Emerging Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Global Asset Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 43.2 | 42.5 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Global Asset Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 24.8 | 24.3 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Global Asset Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 18.4 | 18.2 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Global Asset Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Risk Parity Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 44.3 | 41.2 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Risk Parity Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Risk Parity Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 44.3 | 41.2 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Risk Parity Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Corporate Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 12.5 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Corporate Bonds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Corporate Bonds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 12.5 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Corporate Bonds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Government and Agency Obligation [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 21 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Government and Agency Obligation [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Government and Agency Obligation [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 21 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Government and Agency Obligation [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Fixed Income Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 130.9 | 86.8 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Fixed Income Funds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.1 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Fixed Income Funds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 130.8 | 86.7 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Fixed Income Funds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Subtotal [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 440.4 | 438.9 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Subtotal [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 134 | 140.8 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Subtotal [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 306.4 | 298.1 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Subtotal [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit [Member] | WPL [Member] | Accrued Investment Income [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.2 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 121.6 | 124.9 | 123.1 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 103.8 | 106.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17.8 | 18.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Cash and Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.7 | 3.9 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Cash and Equivalents [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Cash and Equivalents [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.7 | 3.9 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Cash and Equivalents [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Blend [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 35.8 | 36.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Blend [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 35.8 | 36.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Blend [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Blend [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Core [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2.9 | 2.9 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Core [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2.9 | 2.9 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Core [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Core [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.5 | 1.7 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.5 | 1.7 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.6 | 1.7 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.6 | 1.7 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Large Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Small Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.3 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Small Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Small Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.3 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Small Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Small Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.4 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Small Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.4 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Small Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | U.S. Small Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Blend [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 14.2 | 15.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Blend [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 14.2 | 15.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Blend [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Blend [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Developed Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2.2 | 3 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Developed Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.1 | 1.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Developed Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.1 | 1.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Developed Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Emerging Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | 1.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Emerging Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | 1.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Emerging Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | International - Emerging Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Global Asset Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 30.3 | 30.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Global Asset Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 29.4 | 29.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Global Asset Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.9 | 0.9 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Global Asset Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Risk Parity Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2.2 | 2.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Risk Parity Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Risk Parity Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2.2 | 2.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Risk Parity Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Corporate Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.6 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Corporate Bonds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Corporate Bonds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.6 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Corporate Bonds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Government and Agency Obligation [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 1.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Government and Agency Obligation [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Government and Agency Obligation [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 1.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Government and Agency Obligation [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Fixed Income Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 25.5 | 23.2 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Fixed Income Funds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 19 | 18.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Fixed Income Funds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 6.5 | 4.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Fixed Income Funds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 78.7 | 81.2 | 78.8 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 74.7 | 76.2 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4 | 5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Cash and Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.4 | 1.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Cash and Equivalents [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Cash and Equivalents [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.4 | 1.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Cash and Equivalents [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Blend [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 27.2 | 27.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Blend [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 27.2 | 27.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Blend [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Blend [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Core [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.5 | 0.7 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Core [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.5 | 0.7 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Core [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Core [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.3 | 0.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.3 | 0.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.3 | 0.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.3 | 0.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Large Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | U.S. Small Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Blend [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10.7 | 11.6 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Blend [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10.7 | 11.6 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Blend [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Blend [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Developed Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.4 | 0.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Developed Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.2 | 0.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Developed Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.2 | 0.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Developed Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Emerging Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.2 | 0.3 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Emerging Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.2 | 0.3 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Emerging Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | International - Emerging Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Global Asset Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 21.6 | 21.6 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Global Asset Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 21.5 | 21.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Global Asset Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.2 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Global Asset Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Risk Parity Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.4 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Risk Parity Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Risk Parity Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.4 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Risk Parity Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Corporate Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Corporate Bonds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Corporate Bonds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Corporate Bonds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Government and Agency Obligation [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.3 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Government and Agency Obligation [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Government and Agency Obligation [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.3 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Government and Agency Obligation [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Fixed Income Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 15.5 | 15 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Fixed Income Funds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 14.3 | 13.9 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Fixed Income Funds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.2 | 1.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | IPL [Member] | Fixed Income Funds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 21.8 | 21.7 | 22.3 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 13 | 13.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 8.8 | 8.6 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Cash and Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.4 | 1.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Cash and Equivalents [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Cash and Equivalents [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.4 | 1.4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Cash and Equivalents [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Blend [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.6 | 3.6 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Blend [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.6 | 3.6 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Blend [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Blend [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Core [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.6 | 1.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Core [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.6 | 1.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Core [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Core [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.8 | 0.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.8 | 0.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.8 | 0.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.8 | 0.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Large Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.2 | 0.2 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Value [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Value [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.2 | 0.2 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Value [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Growth [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.2 | 0.2 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Growth [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.2 | 0.2 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Growth [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | U.S. Small Cap Growth [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Blend [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.4 | 1.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Blend [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.4 | 1.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Blend [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Blend [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Developed Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.2 | 1.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Developed Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.6 | 0.7 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Developed Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.6 | 0.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Developed Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Emerging Markets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.5 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Emerging Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.5 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Emerging Markets [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | International - Emerging Markets [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Global Asset Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.8 | 3.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Global Asset Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.3 | 3.3 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Global Asset Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.5 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Global Asset Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Risk Parity Allocation Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.1 | 1.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Risk Parity Allocation Securities [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Risk Parity Allocation Securities [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.1 | 1.1 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Risk Parity Allocation Securities [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Corporate Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.3 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Corporate Bonds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Corporate Bonds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.3 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Corporate Bonds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Government and Agency Obligation [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Government and Agency Obligation [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Government and Agency Obligation [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0.5 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Government and Agency Obligation [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Fixed Income Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5.2 | 4 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Fixed Income Funds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.8 | 1.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Fixed Income Funds [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.4 | 2.2 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | WPL [Member] | Fixed Income Funds [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Defined Benefit Plan Due To Brokers Net [Member] | Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | -0.3 | -0.8 | |
Defined Benefit Plan Due To Brokers Net [Member] | Pension Plans, Defined Benefit [Member] | IPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | -0.2 | -0.4 | |
Defined Benefit Plan Due To Brokers Net [Member] | Pension Plans, Defined Benefit [Member] | WPL [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | ($0.10) | ($0.30) |
Benefit_Plans_Employees_Partic
Benefit Plans (Employees Participate In Defined Contribution Retirement Plans) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
401(k) costs | $22.50 | $19.20 | $18.50 | |||
IPL [Member] | ||||||
401(k) costs | 11.1 | [1] | 9.9 | [1] | 9.6 | [1] |
WPL [Member] | ||||||
401(k) costs | $10.50 | [1] | $8.50 | [1] | $8.10 | [1] |
[1] | IPLbs and WPLbs amounts include allocated costs associated with Corporate Services employees. |
Benefit_Plans_Recognized_Compe
Benefit Plans (Recognized Compensation Expense And Income Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation expense | $15.30 | $12 | $6.90 |
Income tax benefits | 6.2 | 4.8 | 2.8 |
IPL [Member] | |||
Compensation expense | 8.3 | 6.2 | 3.6 |
Income tax benefits | 3.4 | 2.5 | 1.5 |
WPL [Member] | |||
Compensation expense | 6.4 | 5.2 | 3 |
Income tax benefits | $2.60 | $2.10 | $1.20 |
Benefit_Plans_Summary_Of_Perfo
Benefit Plans (Summary Of Performance Shares Activity) (Details) (Performance Shares [Member], USD $) | 12 Months Ended | |||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Nonvested, January 1 (in shares/awards) | 139,940 | [1] | 145,277 | [1] | 236,979 | [1] |
Granted (in shares) | 51,221 | [1] | 49,093 | [1] | 45,612 | [1] |
Vested (in shares) | -45,235 | [1] | -54,430 | [1] | -111,980 | [1] |
Forfeited (in shares) | -1,502 | [1],[2] | 0 | [1],[2] | -25,334 | [1],[2] |
Nonvested, December 31 (in shares/awards) | 144,424 | [1] | 139,940 | [1] | 145,277 | [1] |
Instrument valuation based on shares of common stock, number of shares | 1 | |||||
Actual number of shares paid out upon vesting, minimum percentage of target shares | 0.00% | |||||
Actual number of shares paid out upon vesting, maximum percentage of target shares | 200.00% | |||||
2011 Grant [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Vested (in shares) | -45,235 | |||||
Vested percentage of the target | 147.50% | |||||
Cash and stock payout value | 3.4 | |||||
Cash payout value | 2.9 | |||||
Common stock shares from vested performance shares (in shares) | 4,810 | |||||
2010 Grant [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Vested (in shares) | -54,430 | |||||
Vested percentage of the target | 197.50% | |||||
Cash and stock payout value | 4.8 | |||||
Cash payout value | 4.4 | |||||
Common stock shares from vested performance shares (in shares) | 4,177 | |||||
2009 Grant [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Vested (in shares) | -111,980 | |||||
Vested percentage of the target | 162.50% | |||||
Cash and stock payout value | 8 | |||||
Cash payout value | 7.8 | |||||
Common stock shares from vested performance shares (in shares) | 6,399 | |||||
[1] | Share amounts represent the target number of performance shares. Each performance sharebs value is based on the closing market price of one share of Alliant Energybs common stock at the end of the performance period. The actual number of shares that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of shares. | |||||
[2] | Forfeitures were primarily caused by retirements and voluntary terminations of participants. |
Benefit_Plans_Summary_Of_Perfo1
Benefit Plans (Summary Of Performance Unit Activity) (Details) (Performance Units [Member], USD $) | 12 Months Ended | |||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Nonvested, January 1 (in shares/awards) | 65,912 | [1] | 64,969 | [1] | 42,996 | [1] |
Granted (in shares/awards) | 20,422 | [1] | 22,201 | [1] | 24,686 | [1] |
Vested (in shares/awards) | -20,751 | [1] | -19,760 | [1] | 0 | [1] |
Forfeited (in shares/awards) | -1,918 | [1] | -1,498 | [1] | -2,713 | [1] |
Nonvested, December 31 (in shares/awards) | 63,665 | [1] | 65,912 | [1] | 64,969 | [1] |
Instrument valuation based on shares of common stock, number of shares | 1 | |||||
Performance multiplier range, lower | 0.00% | |||||
Performance multiplier range, upper | 200.00% | |||||
2011 Grant [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Vested (in shares/awards) | -20,751 | |||||
Vested percentage of the target | 147.50% | |||||
Cash payout value | 1.2 | |||||
2010 Grant [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Vested (in shares/awards) | -19,760 | |||||
Vested percentage of the target | 197.50% | |||||
Cash payout value | 1.3 | |||||
[1] | Unit amounts represent the target number of performance units. Each performance unitbs value is based on the average price of one share of Alliant Energybs common stock on the grant date of the award. The actual payout for performance units is dependent upon actual performance and may range from zero to 200% of the target number of units. |
Benefit_Plans_Fair_Values_Of_N
Benefit Plans (Fair Values Of Nonvested Performance Shares And Units) (Details) (USD $) | 12 Months Ended | |||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||
Performance Shares [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Nonvested awards (in shares/awards) | 144,424 | [1] | 139,940 | [1] | 145,277 | [1] | 236,979 | [1] |
Performance Units [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Nonvested awards (in shares/awards) | 63,665 | [2] | 65,912 | [2] | 64,969 | [2] | 42,996 | [2] |
2014 Grant [Member] | Performance Shares [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Nonvested awards (in shares/awards) | 49,719 | |||||||
Alliant Energy common stock closing price on December 31, 2014 (in dollars per share) | $66.42 | |||||||
Estimated payout percentage based on performance criteria | 125.00% | |||||||
Fair values of each nonvested award (in dollars per share) | $83.03 | |||||||
2014 Grant [Member] | Performance Units [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Nonvested awards (in shares/awards) | 19,440 | |||||||
Alliant Energy common stock closing price on grant date (in dollars per share) | $53.77 | |||||||
Estimated payout percentage based on performance criteria | 125.00% | |||||||
Fair values of each nonvested award (in dollars per share) | $67.21 | |||||||
2013 Grant [Member] | Performance Shares [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Nonvested awards (in shares/awards) | 49,093 | |||||||
Alliant Energy common stock closing price on December 31, 2014 (in dollars per share) | $66.42 | |||||||
Estimated payout percentage based on performance criteria | 160.00% | |||||||
Fair values of each nonvested award (in dollars per share) | $106.27 | |||||||
2013 Grant [Member] | Performance Units [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Nonvested awards (in shares/awards) | 21,380 | |||||||
Alliant Energy common stock closing price on grant date (in dollars per share) | $47.58 | |||||||
Estimated payout percentage based on performance criteria | 160.00% | |||||||
Fair values of each nonvested award (in dollars per share) | $76.13 | |||||||
2012 Grant [Member] | Performance Shares [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Nonvested awards (in shares/awards) | 45,612 | |||||||
Alliant Energy common stock closing price on December 31, 2014 (in dollars per share) | $66.42 | |||||||
Estimated payout percentage based on performance criteria | 168.00% | |||||||
Fair values of each nonvested award (in dollars per share) | $111.25 | |||||||
2012 Grant [Member] | Performance Units [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Nonvested awards (in shares/awards) | 22,845 | |||||||
Alliant Energy common stock closing price on grant date (in dollars per share) | $43.05 | |||||||
Estimated payout percentage based on performance criteria | 168.00% | |||||||
Fair values of each nonvested award (in dollars per share) | $72.11 | |||||||
[1] | Share amounts represent the target number of performance shares. Each performance sharebs value is based on the closing market price of one share of Alliant Energybs common stock at the end of the performance period. The actual number of shares that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of shares. | |||||||
[2] | Unit amounts represent the target number of performance units. Each performance unitbs value is based on the average price of one share of Alliant Energybs common stock on the grant date of the award. The actual payout for performance units is dependent upon actual performance and may range from zero to 200% of the target number of units. |
Benefit_Plans_Summary_Of_Restr
Benefit Plans (Summary Of Restricted Stock Activity) (Details) (Performance-Contingent Restricted Stock [Member], USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Nonvested, January 1 (in shares/awards) | 158,922 | 211,651 | 301,738 | |||
Nonvested shares, January 1, weighted average fair value (in dollars per share) | $42.71 | $32.42 | $32.60 | |||
Granted (in shares/awards) | 51,221 | 49,093 | ||||
Granted, weighted average fair value (in dollars per share) | $53.77 | $47.58 | $43.05 | |||
Vested (in shares/awards) | -90,847 | [1] | 0 | [1] | -65,172 | [1] |
Vested, weighted average fair value (in dollars per share) | $40.91 | [1] | $0 | [1] | $32.56 | [1] |
Forfeited (in shares/awards) | -20,484 | [2] | -101,822 | [2] | -70,527 | [2] |
Forfeited, weighted average fair value (in dollars per share) | $39.85 | [2] | $23.67 | [2] | $39.93 | [2] |
Nonvested, December 31 (in shares/awards) | 98,812 | 158,922 | 211,651 | |||
Nonvested shares, December 31, weighted average fair value (in dollars per share) | $50.69 | $42.71 | $32.42 | |||
2012 Grant [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Granted (in shares/awards) | 45,612 | |||||
2011 Grant [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Vested (in shares/awards) | -45,235 | |||||
2009 Grant [Member] | Performace Criteria Not Met [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Forfeited (in shares/awards) | -101,822 | |||||
2008 Grant [Member] | Performace Criteria Not Met [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Forfeited (in shares/awards) | -65,516 | |||||
[1] | In 2014, 45,612 and 45,235 performance contingent restricted shares granted in 2012 and 2011, respectively, vested because the specified performance criteria for such shares were met. In 2012, 65,172 performance-contingent restricted shares granted in 2010 vested because the specified performance criteria for such shares were met. | |||||
[2] | In 2013 and 2012, 101,822 and 65,516 performance-contingent restricted shares granted in 2009 and 2008, respectively, were forfeited because the specified performance criteria for such shares were not met. The remaining forfeitures during 2014 and 2012 were primarily caused by retirements and terminations of participants. |
Benefit_Plans_Summary_Of_Perfo2
Benefit Plans (Summary Of Performance Contingent Cash Awards Activity) (Details) (USD $) | 12 Months Ended | |||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Performance Contingent Cash Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Nonvested, January 1 (in shares/awards) | 96,977 | 59,639 | 46,676 | |||
Granted (in shares/awards) | 42,446 | 39,530 | 36,936 | |||
Vested (in shares/awards) | -55,517 | [1] | 0 | [1] | -21,605 | [1] |
Forfeited (in shares/awards) | -4,976 | -2,192 | -2,368 | |||
Nonvested, December 31 (in shares/awards) | 78,930 | 96,977 | 59,639 | |||
2012 Grant [Member] | Performance Contingent Cash Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Vested (in shares/awards) | -34,766 | |||||
Cash payout value | 1.9 | |||||
2011 Grant [Member] | Performance Contingent Cash Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Vested (in shares/awards) | -20,751 | |||||
Cash payout value | 1.1 | |||||
2010 Grant [Member] | Performance Contingent Cash Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||||||
Vested (in shares/awards) | -21,605 | |||||
Cash payout value | 0.9 | |||||
[1] | In 2014, 34,766 and 20,751 performance contingent cash awards granted in 2012 and 2011 vested, resulting in cash payouts valued at $1.9 million and $1.1 million, respectively. In 2012, 21,605 performance contingent cash awards granted in 2010 vested, resulting in cash payouts valued at $0.9 million. |
Benefit_Plans_Carrying_Value_A
Benefit Plans (Carrying Value And Fair Market Value Of The Deferred Compensation Obligation for Company Stock Accounts) (Details) (Company Stock Accounts [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Company Stock Accounts [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Carrying value of deferred compensation obligation | $8.90 | $8 |
Fair market value of deferred compensation obligation | $15.90 | $11.70 |
Benefit_Plans_Carrying_Value_O
Benefit Plans (Carrying Value Of Entity's Deferred Compensation Obligations Interest And Equity Accounts) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ||
Carrying value of deferred compensation obligations | $17.80 | $15.90 |
IPL [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Carrying value of deferred compensation obligations | $5.20 | $5.20 |
Asset_Retirement_Obligations_R
Asset Retirement Obligations (Reconciliation Of Changes In Asset Retirement Obligations) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Balance, January 1 | $109.70 | $101.50 |
Revisions in estimated cash flows | 0 | 5.6 |
Liabilities settled | -3.4 | -2.3 |
Liabilities incurred | 3.7 | 1.2 |
Accretion expense | 4 | 3.7 |
Balance, December 31 | 114 | 109.7 |
IPL [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Balance, January 1 | 47.9 | 45.5 |
Revisions in estimated cash flows | 0 | 0.1 |
Liabilities settled | -1.4 | -0.6 |
Liabilities incurred | 3.5 | 1.2 |
Accretion expense | 1.8 | 1.7 |
Balance, December 31 | 51.8 | 47.9 |
WPL [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Balance, January 1 | 52.4 | 46.9 |
Revisions in estimated cash flows | 0 | 5.5 |
Liabilities settled | -2 | -1.7 |
Liabilities incurred | 0.2 | 0 |
Accretion expense | 1.8 | 1.7 |
Balance, December 31 | $52.40 | $52.40 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (IPL [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
IPL [Member] | |
Cumulative preferred stock rate | 5.10% |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value Of Financial Instruments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Assets: | ||
Derivative assets | $33 | $23.50 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 3,802.80 | 3,348.40 |
Long-term debt (including current maturities) | 4,418.20 | 3,712.30 |
Cumulative preferred stock | 200.2 | 167 |
Derivative liabilities | 32 | 17.6 |
IPL [Member] | ||
Assets: | ||
Derivative assets | 24.7 | 19.5 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 1,775 | 1,563.40 |
Long-term debt (including current maturities) | 2,053 | 1,726.40 |
Cumulative preferred stock | 200.2 | 167 |
Derivative liabilities | 16.2 | 3.6 |
WPL [Member] | ||
Assets: | ||
Derivative assets | 8.3 | 4 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 1,580.60 | 1,339.10 |
Long-term debt (including current maturities) | 1,908.90 | 1,532.90 |
Derivative liabilities | 15.8 | 14 |
Carrying Amount [Member] | ||
Assets: | ||
Derivative assets | 38.6 | 26.7 |
Deferred proceeds (sales of receivables) | 177.2 | 203.5 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 3,789.70 | 3,336.30 |
Cumulative preferred stock | 200 | 200 |
Derivative liabilities | 37.6 | 20.8 |
Carrying Amount [Member] | IPL [Member] | ||
Assets: | ||
Derivative assets | 28 | 21.1 |
Deferred proceeds (sales of receivables) | 177.2 | 203.5 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 1,768.70 | 1,558.40 |
Cumulative preferred stock | 200 | 200 |
Derivative liabilities | 19.5 | 5.2 |
Carrying Amount [Member] | WPL [Member] | ||
Assets: | ||
Derivative assets | 10.6 | 5.6 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 1,573.90 | 1,332.10 |
Derivative liabilities | 18.1 | 15.6 |
Fair Value [Member] | ||
Assets: | ||
Derivative assets | 38.6 | 26.7 |
Deferred proceeds (sales of receivables) | 177.2 | 203.5 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 4,418.20 | 3,712.30 |
Cumulative preferred stock | 200.2 | 167 |
Derivative liabilities | 37.6 | 20.8 |
Fair Value [Member] | IPL [Member] | ||
Assets: | ||
Derivative assets | 28 | 21.1 |
Deferred proceeds (sales of receivables) | 177.2 | 203.5 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 2,053 | 1,726.40 |
Cumulative preferred stock | 200.2 | 167 |
Derivative liabilities | 19.5 | 5.2 |
Fair Value [Member] | WPL [Member] | ||
Assets: | ||
Derivative assets | 10.6 | 5.6 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 1,908.90 | 1,532.90 |
Derivative liabilities | $18.10 | $15.60 |
Fair_Value_Measurements_Recurr
Fair Value Measurements (Recurring Fair Value Measurements) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Assets: | ||
Derivative assets | $33 | $23.50 |
Deferred proceeds | 177.2 | 203.5 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 4,418.20 | 3,712.30 |
Cumulative preferred stock | 200.2 | 167 |
Derivative liabilities | 32 | 17.6 |
IPL [Member] | ||
Assets: | ||
Derivative assets | 24.7 | 19.5 |
Deferred proceeds | 177.2 | 203.5 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 2,053 | 1,726.40 |
Cumulative preferred stock | 200.2 | 167 |
Derivative liabilities | 16.2 | 3.6 |
WPL [Member] | ||
Assets: | ||
Derivative assets | 8.3 | 4 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 1,908.90 | 1,532.90 |
Derivative liabilities | 15.8 | 14 |
Commodity Contracts [Member] | ||
Assets: | ||
Derivative assets | 38.6 | 26.7 |
Capitalization and liabilities: | ||
Derivative liabilities | 37.6 | 20.8 |
Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivative assets | 28 | 21.1 |
Capitalization and liabilities: | ||
Derivative liabilities | 19.5 | 5.2 |
Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivative assets | 10.6 | 5.6 |
Capitalization and liabilities: | ||
Derivative liabilities | 18.1 | 15.6 |
Level 1 [Member] | ||
Assets: | ||
Deferred proceeds | 0 | 0 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 0 | 0 |
Cumulative preferred stock | 200.2 | 167 |
Level 1 [Member] | IPL [Member] | ||
Assets: | ||
Deferred proceeds | 0 | 0 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 0 | 0 |
Cumulative preferred stock | 200.2 | 167 |
Level 1 [Member] | WPL [Member] | ||
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 0 | 0 |
Level 1 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivative assets | 0 | 0 |
Capitalization and liabilities: | ||
Derivative liabilities | 0 | 0 |
Level 1 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivative assets | 0 | 0 |
Capitalization and liabilities: | ||
Derivative liabilities | 0 | 0 |
Level 1 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivative assets | 0 | 0 |
Capitalization and liabilities: | ||
Derivative liabilities | 0 | 0 |
Level 2 [Member] | ||
Assets: | ||
Deferred proceeds | 0 | 0 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 4,414.90 | 3,711.80 |
Cumulative preferred stock | 0 | 0 |
Level 2 [Member] | IPL [Member] | ||
Assets: | ||
Deferred proceeds | 0 | 0 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 2,053 | 1,726.40 |
Cumulative preferred stock | 0 | 0 |
Level 2 [Member] | WPL [Member] | ||
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 1,908.90 | 1,532.90 |
Level 2 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivative assets | 2.6 | 4.7 |
Capitalization and liabilities: | ||
Derivative liabilities | 19.5 | 3.2 |
Level 2 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivative assets | 2.4 | 3 |
Capitalization and liabilities: | ||
Derivative liabilities | 13.3 | 1.7 |
Level 2 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivative assets | 0.2 | 1.7 |
Capitalization and liabilities: | ||
Derivative liabilities | 6.2 | 1.5 |
Level 3 [Member] | ||
Assets: | ||
Deferred proceeds | 177.2 | 203.5 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 3.3 | 0.5 |
Cumulative preferred stock | 0 | 0 |
Level 3 [Member] | IPL [Member] | ||
Assets: | ||
Deferred proceeds | 177.2 | 203.5 |
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 0 | 0 |
Cumulative preferred stock | 0 | 0 |
Level 3 [Member] | WPL [Member] | ||
Capitalization and liabilities: | ||
Long-term debt (including current maturities) | 0 | 0 |
Level 3 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivative assets | 36 | 22 |
Capitalization and liabilities: | ||
Derivative liabilities | 18.1 | 17.6 |
Level 3 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivative assets | 25.6 | 18.1 |
Capitalization and liabilities: | ||
Derivative liabilities | 6.2 | 3.5 |
Level 3 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivative assets | 10.4 | 3.9 |
Capitalization and liabilities: | ||
Derivative liabilities | $11.90 | $14.10 |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements (Fair Value Measurements Using Significant Unobservable Inputs) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Commodity Contracts Derivative Assets and (Liabilities), net [Member] | ||||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance, January 1 | $4.40 | $11.90 | ||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 11.1 | -12.7 | ||
Transfers into Level 3 | 0 | [1] | 0.1 | [1] |
Transfers out of Level 3 | 0 | [2] | 2 | [2] |
Purchases | 76.7 | 50.9 | ||
Sales | -2.2 | 0 | ||
Settlements | -72.1 | [3] | -47.8 | [3] |
Ending balance, December 31 | 17.9 | 4.4 | ||
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 | -0.4 | -12.7 | ||
Commodity Contracts Derivative Assets and (Liabilities), net [Member] | IPL [Member] | ||||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance, January 1 | 14.6 | 12.5 | ||
Total net gains (losses) (realized/unrealized) included in changes in net assets | -5.9 | -4.6 | ||
Transfers out of Level 3 | 0 | [2] | 1 | [2] |
Purchases | 68.8 | 46.1 | ||
Sales | -2 | 0 | ||
Settlements | -56.1 | [3] | -40.4 | [3] |
Ending balance, December 31 | 19.4 | 14.6 | ||
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 | -9.3 | -4.6 | ||
Commodity Contracts Derivative Assets and (Liabilities), net [Member] | WPL [Member] | ||||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance, January 1 | -10.2 | -0.6 | ||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 17 | -8.1 | ||
Transfers into Level 3 | 0 | [1] | 0.1 | [1] |
Transfers out of Level 3 | 0 | [2] | 1 | [2] |
Purchases | 7.9 | 4.8 | ||
Sales | -0.2 | 0 | ||
Settlements | -16 | -7.4 | ||
Ending balance, December 31 | -1.5 | -10.2 | ||
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 | 8.9 | -8.1 | ||
Deferred Proceeds [Member] | ||||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance, January 1 | 203.5 | 66.8 | ||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 0 | 0 | ||
Transfers into Level 3 | 0 | [1] | 0 | [1] |
Transfers out of Level 3 | 0 | [2] | 0 | [2] |
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Settlements | -26.3 | [3] | 136.7 | [3] |
Ending balance, December 31 | 177.2 | 203.5 | ||
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 | 0 | ||
Deferred Proceeds [Member] | IPL [Member] | ||||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance, January 1 | 203.5 | 66.8 | ||
Total net gains (losses) (realized/unrealized) included in changes in net assets | 0 | 0 | ||
Transfers out of Level 3 | 0 | [2] | 0 | [2] |
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Settlements | -26.3 | [3] | 136.7 | [3] |
Ending balance, December 31 | 177.2 | 203.5 | ||
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 | $0 | ||
[1] | Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period. | |||
[2] | Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period. | |||
[3] | 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 proceeds received from the receivables sold. |
Fair_Value_Measurements_Fair_V2
Fair Value Measurements (Fair Value Of Net Derivative Assets (Liabilities)) (Details) (Commodity Contracts [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value, net derivative assets | $17.90 | $4.40 | $11.90 |
Excluding FTRs [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value, net derivative liabilities | -7 | -13.9 | |
FTRs [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value, net derivative assets | 24.9 | 18.3 | |
IPL [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value, net derivative assets | 19.4 | 14.6 | 12.5 |
IPL [Member] | Excluding FTRs [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value, net derivative liabilities | -3.2 | -2.1 | |
IPL [Member] | FTRs [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value, net derivative assets | 22.6 | 16.7 | |
WPL [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value, net derivative assets | -1.5 | -10.2 | -0.6 |
WPL [Member] | Excluding FTRs [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value, net derivative liabilities | -3.8 | -11.8 | |
WPL [Member] | FTRs [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value, net derivative assets | $2.30 | $1.60 |
Derivative_Instruments_Notiona
Derivative Instruments (Notional Amounts Of Derivative Instruments) (Details) (Commodity [Member]) | Dec. 31, 2014 |
MWh | |
Electricity (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 8,248,000 |
Electricity (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,765,000 |
Electricity (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 6,483,000 |
FTRs (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 9,505,000 |
FTRs (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 5,503,000 |
FTRs (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 4,002,000 |
Natural Gas (Dths) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 78,304,000 |
Natural Gas (Dths) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 50,919,000 |
Natural Gas (Dths) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 27,385,000 |
Coal (tons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 5,575,000 |
Coal (tons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,566,000 |
Coal (tons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 4,009,000 |
2015 [Member] | Electricity (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 4,067,000 |
2015 [Member] | Electricity (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,765,000 |
2015 [Member] | Electricity (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 2,302,000 |
2015 [Member] | FTRs (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 9,505,000 |
2015 [Member] | FTRs (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 5,503,000 |
2015 [Member] | FTRs (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 4,002,000 |
2015 [Member] | Natural Gas (Dths) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 56,250,000 |
2015 [Member] | Natural Gas (Dths) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 39,727,000 |
2015 [Member] | Natural Gas (Dths) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 16,523,000 |
2015 [Member] | Coal (tons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,490,000 |
2015 [Member] | Coal (tons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 75,000 |
2015 [Member] | Coal (tons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,415,000 |
2016 [Member] | Electricity (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,553,000 |
2016 [Member] | Electricity (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2016 [Member] | Electricity (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,553,000 |
2016 [Member] | FTRs (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2016 [Member] | FTRs (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2016 [Member] | FTRs (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2016 [Member] | Natural Gas (Dths) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 20,225,000 |
2016 [Member] | Natural Gas (Dths) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 10,178,000 |
2016 [Member] | Natural Gas (Dths) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 10,047,000 |
2016 [Member] | Coal (tons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,899,000 |
2016 [Member] | Coal (tons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 830,000 |
2016 [Member] | Coal (tons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,069,000 |
2017 [Member] | Electricity (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,314,000 |
2017 [Member] | Electricity (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2017 [Member] | Electricity (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,314,000 |
2017 [Member] | FTRs (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2017 [Member] | FTRs (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2017 [Member] | FTRs (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2017 [Member] | Natural Gas (Dths) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,829,000 |
2017 [Member] | Natural Gas (Dths) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,014,000 |
2017 [Member] | Natural Gas (Dths) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 815,000 |
2017 [Member] | Coal (tons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,073,000 |
2017 [Member] | Coal (tons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 274,000 |
2017 [Member] | Coal (tons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 799,000 |
2018 [Member] | Electricity (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,314,000 |
2018 [Member] | Electricity (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2018 [Member] | Electricity (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,314,000 |
2018 [Member] | FTRs (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2018 [Member] | FTRs (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2018 [Member] | FTRs (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2018 [Member] | Natural Gas (Dths) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2018 [Member] | Natural Gas (Dths) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2018 [Member] | Natural Gas (Dths) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 0 |
2018 [Member] | Coal (tons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 1,113,000 |
2018 [Member] | Coal (tons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 387,000 |
2018 [Member] | Coal (tons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs/Dths/tons) | 726,000 |
Derivative_Instruments_Fair_Va
Derivative Instruments (Fair Value Of Financial Instruments) (Details) (Commodity Contracts [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | $30.50 | $25.60 |
Non-current derivative assets | 8.1 | 1.1 |
Current derivative liabilities | 28.1 | 6.7 |
Non-current derivative liabilities | 9.5 | 14.1 |
IPL [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | 27.4 | 20.2 |
Non-current derivative assets | 0.6 | 0.9 |
Current derivative liabilities | 16.4 | 3 |
Non-current derivative liabilities | 3.1 | 2.2 |
WPL [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | 3.1 | 5.4 |
Non-current derivative assets | 7.5 | 0.2 |
Current derivative liabilities | 11.7 | 3.7 |
Non-current derivative liabilities | $6.40 | $11.90 |
Derivative_Instruments_Gains_A
Derivative Instruments (Gains And Losses From Derivative Instruments) (Details) (Commodity Contracts [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Regulatory Assets [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Changes in unrealized gains (losses) from derivative instruments | ($13.80) | ($14.70) | ($37.90) |
Regulatory Assets [Member] | IPL [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Changes in unrealized gains (losses) from derivative instruments | -5.8 | -6.6 | -16.8 |
Regulatory Assets [Member] | WPL [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Changes in unrealized gains (losses) from derivative instruments | -8 | -8.1 | -21.1 |
Regulatory Liabilities [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Changes in unrealized gains (losses) from derivative instruments | 37.4 | 22.2 | 20.3 |
Regulatory Liabilities [Member] | IPL [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Changes in unrealized gains (losses) from derivative instruments | 10.2 | 11.8 | 13.5 |
Regulatory Liabilities [Member] | WPL [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Changes in unrealized gains (losses) from derivative instruments | $27.20 | $10.40 | $6.80 |
Derivative_Instruments_Credit_
Derivative Instruments (Credit Risk Related Contingent Features) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ||
Aggregate fair value | $37.60 | $20.80 |
Credit support to be posted if triggered | 37.4 | 20.8 |
IPL [Member] | ||
Derivative [Line Items] | ||
Aggregate fair value | 19.5 | 5.2 |
Credit support to be posted if triggered | 19.5 | 5.2 |
WPL [Member] | ||
Derivative [Line Items] | ||
Aggregate fair value | 18.1 | 15.6 |
Credit support to be posted if triggered | $17.90 | $15.60 |
Derivative_Instruments_Balance
Derivative Instruments (Balance Sheet Offsetting) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ||
Derivative assets, Gross (as reported) | $38.60 | $26.70 |
Derivative assets, Net | 33 | 23.5 |
Derivative liabilities, Gross (as reported) | 37.6 | 20.8 |
Derivative liabilities, Net | 32 | 17.6 |
IPL [Member] | ||
Derivative [Line Items] | ||
Derivative assets, Gross (as reported) | 28 | 21.1 |
Derivative assets, Net | 24.7 | 19.5 |
Derivative liabilities, Gross (as reported) | 19.5 | 5.2 |
Derivative liabilities, Net | 16.2 | 3.6 |
WPL [Member] | ||
Derivative [Line Items] | ||
Derivative assets, Gross (as reported) | 10.6 | 5.6 |
Derivative assets, Net | 8.3 | 4 |
Derivative liabilities, Gross (as reported) | 18.1 | 15.6 |
Derivative liabilities, Net | $15.80 | $14 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | |
Long-term Purchase Commitment [Line Items] | ||
Minimum future commitments | $2,360 | |
Performance guarantees outstanding | 251 | |
Present value abandonment obligation | 35 | |
Minimum [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Warranty period | 12 months | |
Maximum [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Warranty period | 60 months | |
Performance guarantees outstanding, 2015 [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Performance guarantees outstanding | 128 | |
Performance guarantees outstanding, 2016 [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Performance guarantees outstanding | 48 | |
Performance guarantees outstanding, 2017 [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Performance guarantees outstanding | 75 | |
Capital Purchase Obligation [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Minimum future commitments | 25 | |
DAEC IPL [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Minimum future commitments | 1,538 | [1],[2] |
IPL [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Minimum future commitments | 1,859 | |
Number of sites monitoring and/or remediating (in sites) | 25 | |
IPL [Member] | Capital Purchase Obligation [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Minimum future commitments | 6 | |
WPL [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Minimum future commitments | 499 | |
Number of sites monitoring and/or remediating (in sites) | 5 | |
WPL [Member] | Capital Purchase Obligation [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Minimum future commitments | 19 | |
Environmental Issue [Member] | WPL [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Damages awarded | $7 | |
[1] | Includes commitments incurred under a PPA, which grants IPL rights to purchase up to 431 MWs of capacity and the resulting energy from DAEC for a term through December 31, 2025. If energy delivered is less than the targeted energy amount, an adjustment payment will be made to IPL, which will be reflected in IPLbs fuel adjustment clause. | |
[2] | Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Refer to Note 18 for additional information on purchased power transactions. |
Commitments_And_Contingencies_2
Commitments And Contingencies (Operating Expense Purchase Obligations) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2007 | Dec. 31, 2011 | |
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | $2,360 | |||
Individual commitments incurred | 1 | |||
Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 1,746 | [1] | ||
DAEC IPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 1,538 | [1],[2] | ||
Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 208 | [1] | ||
Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 278 | |||
Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 291 | [3] | ||
SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 34 | [4] | ||
Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 11 | [5] | ||
2015 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 514 | |||
2015 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 193 | [1] | ||
2015 [Member] | DAEC IPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 119 | [1],[2] | ||
2015 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 74 | [1] | ||
2015 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 175 | |||
2015 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 124 | [3] | ||
2015 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 12 | [4] | ||
2015 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 10 | [5] | ||
2016 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 333 | |||
2016 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 171 | [1] | ||
2016 [Member] | DAEC IPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 125 | [1],[2] | ||
2016 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 46 | [1] | ||
2016 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 69 | |||
2016 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 78 | [3] | ||
2016 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 14 | [4] | ||
2016 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 1 | [5] | ||
2017 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 260 | |||
2017 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 182 | [1] | ||
2017 [Member] | DAEC IPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 138 | [1],[2] | ||
2017 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 44 | [1] | ||
2017 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 23 | |||
2017 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 47 | [3] | ||
2017 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 8 | [4] | ||
2017 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
2018 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 214 | |||
2018 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 175 | [1] | ||
2018 [Member] | DAEC IPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 131 | [1],[2] | ||
2018 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 44 | [1] | ||
2018 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 5 | |||
2018 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 34 | [3] | ||
2018 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [4] | ||
2018 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
2019 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 153 | |||
2019 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 143 | [1] | ||
2019 [Member] | DAEC IPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 143 | [1],[2] | ||
2019 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [1] | ||
2019 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 2 | |||
2019 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 8 | [3] | ||
2019 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [4] | ||
2019 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
Thereafter [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 886 | |||
Thereafter [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 882 | [1] | ||
Thereafter [Member] | DAEC IPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 882 | [1],[2] | ||
Thereafter [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [1] | ||
Thereafter [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 4 | |||
Thereafter [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [3] | ||
Thereafter [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [4] | ||
Thereafter [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
IPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 1,859 | |||
IPL [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 1,539 | [1] | ||
IPL [Member] | DAEC IPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Approved amount of electric power capacity (in megawatts) | 431 | |||
IPL [Member] | DAEC [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 1,538 | [1],[2] | ||
IPL [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 1 | [1] | ||
IPL [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 153 | |||
IPL [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 127 | [3] | ||
IPL [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 34 | [4] | 34 | |
IPL [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 6 | [5] | ||
IPL [Member] | 2015 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 306 | |||
IPL [Member] | 2015 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 119 | [1] | ||
IPL [Member] | 2015 [Member] | DAEC [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 119 | [1],[2] | ||
IPL [Member] | 2015 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [1] | ||
IPL [Member] | 2015 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 108 | |||
IPL [Member] | 2015 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 61 | [3] | ||
IPL [Member] | 2015 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 12 | [4] | ||
IPL [Member] | 2015 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 6 | [5] | ||
IPL [Member] | 2016 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 207 | |||
IPL [Member] | 2016 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 126 | [1] | ||
IPL [Member] | 2016 [Member] | DAEC [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 125 | [1],[2] | ||
IPL [Member] | 2016 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 1 | [1] | ||
IPL [Member] | 2016 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 32 | |||
IPL [Member] | 2016 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 35 | [3] | ||
IPL [Member] | 2016 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 14 | [4] | ||
IPL [Member] | 2016 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
IPL [Member] | 2017 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 171 | |||
IPL [Member] | 2017 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 138 | [1] | ||
IPL [Member] | 2017 [Member] | DAEC [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 138 | [1],[2] | ||
IPL [Member] | 2017 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [1] | ||
IPL [Member] | 2017 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 5 | |||
IPL [Member] | 2017 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 20 | [3] | ||
IPL [Member] | 2017 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 8 | [4] | ||
IPL [Member] | 2017 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
IPL [Member] | 2018 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 144 | |||
IPL [Member] | 2018 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 131 | [1] | ||
IPL [Member] | 2018 [Member] | DAEC [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 131 | [1],[2] | ||
IPL [Member] | 2018 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [1] | ||
IPL [Member] | 2018 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 2 | |||
IPL [Member] | 2018 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 11 | [3] | ||
IPL [Member] | 2018 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [4] | ||
IPL [Member] | 2018 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
IPL [Member] | 2019 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 145 | |||
IPL [Member] | 2019 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 143 | [1] | ||
IPL [Member] | 2019 [Member] | DAEC [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 143 | [1],[2] | ||
IPL [Member] | 2019 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [1] | ||
IPL [Member] | 2019 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 2 | |||
IPL [Member] | 2019 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [3] | ||
IPL [Member] | 2019 [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [4] | ||
IPL [Member] | 2019 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
IPL [Member] | Thereafter [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 886 | |||
IPL [Member] | Thereafter [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 882 | [1] | ||
IPL [Member] | Thereafter [Member] | DAEC [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 882 | [1],[2] | ||
IPL [Member] | Thereafter [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [1] | ||
IPL [Member] | Thereafter [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 4 | |||
IPL [Member] | Thereafter [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [3] | ||
IPL [Member] | Thereafter [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [4] | ||
IPL [Member] | Thereafter [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
WPL [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 499 | |||
WPL [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 207 | [1] | ||
WPL [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 125 | |||
WPL [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 164 | [3] | ||
WPL [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 3 | [5] | ||
WPL [Member] | 2015 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 206 | |||
WPL [Member] | 2015 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 74 | [1] | ||
WPL [Member] | 2015 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 67 | |||
WPL [Member] | 2015 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 63 | [3] | ||
WPL [Member] | 2015 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 2 | [5] | ||
WPL [Member] | 2016 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 126 | |||
WPL [Member] | 2016 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 45 | [1] | ||
WPL [Member] | 2016 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 37 | |||
WPL [Member] | 2016 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 43 | [3] | ||
WPL [Member] | 2016 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 1 | [5] | ||
WPL [Member] | 2017 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 89 | |||
WPL [Member] | 2017 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 44 | [1] | ||
WPL [Member] | 2017 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 18 | |||
WPL [Member] | 2017 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 27 | [3] | ||
WPL [Member] | 2017 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
WPL [Member] | 2018 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 70 | |||
WPL [Member] | 2018 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 44 | [1] | ||
WPL [Member] | 2018 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 3 | |||
WPL [Member] | 2018 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 23 | [3] | ||
WPL [Member] | 2018 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
WPL [Member] | 2019 [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 8 | |||
WPL [Member] | 2019 [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [1] | ||
WPL [Member] | 2019 [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | |||
WPL [Member] | 2019 [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 8 | [3] | ||
WPL [Member] | 2019 [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
WPL [Member] | Thereafter [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | |||
WPL [Member] | Thereafter [Member] | Purchased Power [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [1] | ||
WPL [Member] | Thereafter [Member] | Natural Gas [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | |||
WPL [Member] | Thereafter [Member] | Coal [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [3] | ||
WPL [Member] | Thereafter [Member] | Other [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | 0 | [5] | ||
Alliant Energy and IPL [Member] | SO2 emission allowances [Member] | ||||
Long-term Purchase Commitment [Line Items] | ||||
Minimum future commitments | $34 | |||
[1] | Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. Refer to Note 18 for additional information on purchased power transactions. | |||
[2] | Includes commitments incurred under a PPA, which grants IPL rights to purchase up to 431 MWs of capacity and the resulting energy from DAEC for a term through December 31, 2025. If energy delivered is less than the targeted energy amount, an adjustment payment will be made to IPL, which will be reflected in IPLbs fuel adjustment clause. | |||
[3] | 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 DecemberB 31, 2014 regarding expected future usage, which is subject to change. | |||
[4] | Refer to Note 2 for discussion of $34 million of charges recognized by Alliant Energy and IPL in 2011 for forward contracts to purchase SO2 emission allowances. | |||
[5] | Includes individual commitments incurred during the normal course of business that exceeded $1 million at DecemberB 31, 2014. |
Commitments_And_Contingencies_3
Commitments And Contingencies (Schedule Of Environmental Liabilities) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Current environmental liabilities | $2 | $3.60 |
Non-current environmental liabilities | 13.5 | 15.4 |
Total environmental liabilities | 15.5 | 19 |
Minimum range of estimated future cost incurred for investigation, remediation and monitoring | 12 | |
Maximum remaining estimated cost incurred for investigation, remediation and monitoring | 31 | |
IPL [Member] | ||
Current environmental liabilities | 1.7 | 2.8 |
Non-current environmental liabilities | 11.9 | 13.6 |
Total environmental liabilities | 13.6 | 16.4 |
Minimum range of estimated future cost incurred for investigation, remediation and monitoring | 11 | |
Maximum remaining estimated cost incurred for investigation, remediation and monitoring | 29 | |
WPL [Member] | ||
Current environmental liabilities | 0.3 | 0.8 |
Non-current environmental liabilities | 1.6 | 1.7 |
Total environmental liabilities | 1.9 | 2.5 |
Minimum range of estimated future cost incurred for investigation, remediation and monitoring | 1 | |
Maximum remaining estimated cost incurred for investigation, remediation and monitoring | 2 | |
Natural Gas Processing Plant [Member] | ||
Total environmental liabilities | 16 | |
Natural Gas Processing Plant [Member] | IPL [Member] | ||
Total environmental liabilities | 14 | |
Natural Gas Processing Plant [Member] | WPL [Member] | ||
Total environmental liabilities | $2 |
Segments_Of_Business_Narrative
Segments Of Business (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
segment | |
IPL and WPL [Member] | |
Segment Reporting Information [Line Items] | |
Number of reportable segments (in segments) | 3 |
IPL [Member] | |
Segment Reporting Information [Line Items] | |
Number of reportable segments (in segments) | 3 |
WPL [Member] | |
Segment Reporting Information [Line Items] | |
Number of reportable segments (in segments) | 3 |
Segments_Of_Business_Schedule_
Segments Of Business (Schedule Of Segment Of Business) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | $804.10 | $843.10 | $750.30 | $952.80 | $832.60 | $866.60 | $718 | $859.60 | $3,350.30 | $3,276.80 | $3,094.50 |
Depreciation and amortization | 388.1 | 370.9 | 332.4 | ||||||||
Operating income (loss) | 91.3 | 194.8 | 103.3 | 154.2 | 108.6 | 201.4 | 103.2 | 120.7 | 543.6 | 533.9 | 519.7 |
Interest expense | 180.6 | 172.8 | 156.7 | ||||||||
Equity (income) loss from unconsolidated investments, net | -40.4 | -43.7 | -41.3 | ||||||||
Income tax expense (benefit) | 44.3 | 53.9 | 89.4 | ||||||||
Net income (loss) attributable to common shareowners | 60 | 153.3 | 61.8 | 108 | 65.5 | 157.6 | 65.3 | 69.9 | 383.1 | 358.3 | 319.8 |
Total assets | 12,085.90 | 11,112.40 | 12,085.90 | 11,112.40 | 10,785.50 | ||||||
Investments in equity method subsidiaries | 296.6 | 281.4 | 296.6 | 281.4 | 266.6 | ||||||
Construction and acquisition expenditures | 902.8 | 798.3 | 1,158.10 | ||||||||
IPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 431.1 | 476.2 | 411.9 | 528.9 | 463.1 | 494.4 | 383.4 | 477.9 | 1,848.10 | 1,818.80 | 1,650.30 |
Depreciation and amortization | 197.5 | 191.1 | 188.9 | ||||||||
Operating income (loss) | 23.8 | 93.9 | 34 | 57.5 | 36.2 | 100 | 34.7 | 41.1 | 209.2 | 212 | 200.3 |
Interest expense | 89.9 | 81.3 | 78.5 | ||||||||
Income tax expense (benefit) | -51.7 | -37.9 | -19.8 | ||||||||
Net income (loss) attributable to common shareowners | 20.1 | 102.5 | 18.4 | 43.4 | 18.5 | 110 | 22.2 | 22.9 | 184.4 | 173.6 | 137.6 |
Total assets | 6,461.80 | 5,806 | 6,461.80 | 5,806 | |||||||
WPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 359.8 | 354.4 | 324.5 | 410.4 | 355.7 | 360.9 | 319.9 | 369.8 | 1,449.10 | 1,406.30 | 1,392 |
Depreciation and amortization | 181.2 | 172.2 | 140.9 | ||||||||
Operating income (loss) | 59.4 | 93.9 | 60 | 87.7 | 67.8 | 95.9 | 59.7 | 72.7 | 301 | 296.1 | 284.8 |
Interest expense | 86.4 | 85 | 80.2 | ||||||||
Equity (income) loss from unconsolidated investments, net | -42.8 | -43.7 | -42.1 | ||||||||
Income tax expense (benefit) | 85.6 | 87.2 | 94.6 | ||||||||
Net income (loss) attributable to common shareowners | 29.1 | 61.6 | 34.6 | 54.8 | 38.2 | 61.3 | 34.4 | 42 | 180.1 | 175.9 | 162.4 |
Total assets | 5,128.20 | 4,804.40 | 5,128.20 | 4,804.40 | |||||||
Electric [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 2,713.60 | 2,689 | 2,589.30 | ||||||||
Depreciation and amortization | 347 | 333 | 299.3 | ||||||||
Operating income (loss) | 442.4 | 444.5 | 426.2 | ||||||||
Equity (income) loss from unconsolidated investments, net | -42.8 | -43.7 | -42.1 | ||||||||
Total assets | 9,660.40 | 9,018.60 | 9,660.40 | 9,018.60 | 8,438.80 | ||||||
Investments in equity method subsidiaries | 294.3 | 279.1 | 294.3 | 279.1 | 264.3 | ||||||
Construction and acquisition expenditures | 774.8 | 677.3 | 994 | ||||||||
Electric [Member] | IPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,493.30 | 1,491.80 | 1,371.10 | ||||||||
Depreciation and amortization | 178.7 | 173.1 | 171.2 | ||||||||
Operating income (loss) | 166.8 | 173.1 | 166.2 | ||||||||
Total assets | 5,398.30 | 4,905.30 | 5,398.30 | 4,905.30 | 4,500.90 | ||||||
Construction and acquisition expenditures | 490 | 365.4 | 291 | ||||||||
Electric [Member] | WPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,220.30 | 1,197.20 | 1,218.20 | ||||||||
Depreciation and amortization | 168.3 | 159.9 | 128.1 | ||||||||
Operating income (loss) | 275.6 | 271.4 | 260 | ||||||||
Equity (income) loss from unconsolidated investments, net | -42.8 | -43.7 | -42.1 | ||||||||
Total assets | 4,262.10 | 4,113.30 | 4,262.10 | 4,113.30 | 3,937.90 | ||||||
Investments in equity method subsidiaries | 294.3 | 279.1 | 294.3 | 279.1 | 264.3 | ||||||
Construction and acquisition expenditures | 284.8 | 311.9 | 703 | ||||||||
Gas [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 517.5 | 464.8 | 396.3 | ||||||||
Depreciation and amortization | 29.9 | 28.8 | 29.1 | ||||||||
Operating income (loss) | 53.8 | 57.3 | 51.5 | ||||||||
Equity (income) loss from unconsolidated investments, net | 0 | 0 | 0 | ||||||||
Total assets | 913.5 | 859.3 | 913.5 | 859.3 | 814.8 | ||||||
Investments in equity method subsidiaries | 0 | 0 | 0 | 0 | 0 | ||||||
Construction and acquisition expenditures | 63.2 | 47 | 31.4 | ||||||||
Gas [Member] | IPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 296.5 | 273.9 | 226.7 | ||||||||
Depreciation and amortization | 17 | 16.5 | 16.3 | ||||||||
Operating income (loss) | 25.7 | 29.8 | 24.2 | ||||||||
Total assets | 544.1 | 518.8 | 544.1 | 518.8 | 479.5 | ||||||
Construction and acquisition expenditures | 35.1 | 27.5 | 16.4 | ||||||||
Gas [Member] | WPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 221 | 190.9 | 169.6 | ||||||||
Depreciation and amortization | 12.9 | 12.3 | 12.8 | ||||||||
Operating income (loss) | 28.1 | 27.5 | 27.3 | ||||||||
Equity (income) loss from unconsolidated investments, net | 0 | 0 | 0 | ||||||||
Total assets | 369.4 | 340.5 | 369.4 | 340.5 | 335.3 | ||||||
Investments in equity method subsidiaries | 0 | 0 | 0 | 0 | 0 | ||||||
Construction and acquisition expenditures | 28.1 | 19.5 | 15 | ||||||||
Other Utility [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 66.1 | 71.3 | 56.7 | ||||||||
Depreciation and amortization | 1.8 | 1.5 | 1.4 | ||||||||
Operating income (loss) | 14 | 6.3 | 7.4 | ||||||||
Equity (income) loss from unconsolidated investments, net | 0 | 0 | 0 | ||||||||
Total assets | 1,016.10 | 732.5 | 1,016.10 | 732.5 | 966 | ||||||
Investments in equity method subsidiaries | 0 | 0 | 0 | 0 | 0 | ||||||
Construction and acquisition expenditures | 0.9 | 7.3 | 0.1 | ||||||||
Other Utility [Member] | IPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 58.3 | 53.1 | 52.5 | ||||||||
Depreciation and amortization | 1.8 | 1.5 | 1.4 | ||||||||
Operating income (loss) | 16.7 | 9.1 | 9.9 | ||||||||
Total assets | 519.4 | 381.9 | 519.4 | 381.9 | 476.6 | ||||||
Construction and acquisition expenditures | 0.9 | 7.3 | 0.1 | ||||||||
Other Utility [Member] | WPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 7.8 | 18.2 | 4.2 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Operating income (loss) | -2.7 | -2.8 | -2.5 | ||||||||
Equity (income) loss from unconsolidated investments, net | 0 | 0 | 0 | ||||||||
Total assets | 496.7 | 350.6 | 496.7 | 350.6 | 489.4 | ||||||
Investments in equity method subsidiaries | 0 | 0 | 0 | 0 | 0 | ||||||
Construction and acquisition expenditures | 0 | 0 | 0 | ||||||||
Utility Business [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 3,297.20 | 3,225.10 | 3,042.30 | ||||||||
Depreciation and amortization | 378.7 | 363.3 | 329.8 | ||||||||
Operating income (loss) | 510.2 | 508.1 | 485.1 | ||||||||
Interest expense | 176.3 | 166.3 | 158.7 | ||||||||
Equity (income) loss from unconsolidated investments, net | -42.8 | -43.7 | -42.1 | ||||||||
Income tax expense (benefit) | 33.9 | 49.3 | 74.8 | ||||||||
Net income (loss) attributable to common shareowners | 364.5 | 349.5 | 300 | ||||||||
Total assets | 11,590 | 10,610.40 | 11,590 | 10,610.40 | 10,219.60 | ||||||
Investments in equity method subsidiaries | 294.3 | 279.1 | 294.3 | 279.1 | 264.3 | ||||||
Construction and acquisition expenditures | 838.9 | 731.6 | 1,025.50 | ||||||||
Utility Business [Member] | IPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,848.10 | 1,818.80 | 1,650.30 | ||||||||
Depreciation and amortization | 197.5 | 191.1 | 188.9 | ||||||||
Operating income (loss) | 209.2 | 212 | 200.3 | ||||||||
Interest expense | 89.9 | 81.3 | 78.5 | ||||||||
Income tax expense (benefit) | -51.7 | -37.9 | -19.8 | ||||||||
Net income (loss) attributable to common shareowners | 184.4 | 173.6 | 137.6 | ||||||||
Total assets | 6,461.80 | 5,806 | 6,461.80 | 5,806 | 5,457 | ||||||
Construction and acquisition expenditures | 526 | 400.2 | 307.5 | ||||||||
Utility Business [Member] | WPL [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 1,449.10 | 1,406.30 | 1,392 | ||||||||
Depreciation and amortization | 181.2 | 172.2 | 140.9 | ||||||||
Operating income (loss) | 301 | 296.1 | 284.8 | ||||||||
Interest expense | 86.4 | 85 | 80.2 | ||||||||
Equity (income) loss from unconsolidated investments, net | -42.8 | -43.7 | -42.1 | ||||||||
Income tax expense (benefit) | 85.6 | 87.2 | 94.6 | ||||||||
Net income (loss) attributable to common shareowners | 180.1 | 175.9 | 162.4 | ||||||||
Total assets | 5,128.20 | 4,804.40 | 5,128.20 | 4,804.40 | 4,762.60 | ||||||
Investments in equity method subsidiaries | 294.3 | 279.1 | 294.3 | 279.1 | 264.3 | ||||||
Construction and acquisition expenditures | 312.9 | 331.4 | 718 | ||||||||
Non-Regulated [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating revenues | 53.1 | 51.7 | 52.2 | ||||||||
Depreciation and amortization | 9.4 | 7.6 | 2.6 | ||||||||
Operating income (loss) | 33.4 | 25.8 | 34.6 | ||||||||
Interest expense | 4.3 | 6.5 | -2 | ||||||||
Equity (income) loss from unconsolidated investments, net | 2.4 | 0 | 0.8 | ||||||||
Income tax expense (benefit) | 10.4 | 4.6 | 14.6 | ||||||||
Net income (loss) attributable to common shareowners | 18.6 | 8.8 | 19.8 | ||||||||
Total assets | 495.9 | 502 | 495.9 | 502 | 565.9 | ||||||
Investments in equity method subsidiaries | 2.3 | 2.3 | 2.3 | 2.3 | 2.3 | ||||||
Construction and acquisition expenditures | $63.90 | $66.70 | $132.60 |
Segments_Of_Business_Products_
Segments Of Business (Products And Services) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Segment Reporting Information [Line Items] | |||
Products and services | 100.00% | 100.00% | 100.00% |
Utility electric operations [Member] | |||
Segment Reporting Information [Line Items] | |||
Products and services | 81.00% | 82.00% | 84.00% |
Utility gas operations [Member] | |||
Segment Reporting Information [Line Items] | |||
Products and services | 15.00% | 14.00% | 13.00% |
Utility other [Member] | |||
Segment Reporting Information [Line Items] | |||
Products and services | 2.00% | 2.00% | 2.00% |
Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Products and services | 2.00% | 2.00% | 1.00% |
Related_Parties_Narrative_Deta
Related Parties (Narrative) (Details) (WPL Owed ATC [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
WPL Owed ATC [Member] | ||
Related Party Transaction [Line Items] | ||
Net amounts owed | $8 | $8 |
Related_Parties_Service_Agreem
Related Parties (Service Agreements) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Corporate Service Billings [Member] | IPL [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts billed between related parties | $148 | $140 | $129 |
Corporate Service Billings [Member] | WPL [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts billed between related parties | 116 | 103 | 102 |
Sales Credited [Member] | IPL [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts billed between related parties | 8 | 7 | 10 |
Sales Credited [Member] | WPL [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts billed between related parties | 6 | 12 | 14 |
Purchases Billed [Member] | IPL [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts billed between related parties | 422 | 365 | 301 |
Purchases Billed [Member] | WPL [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts billed between related parties | $125 | $68 | $61 |
Related_Parties_Net_Intercompa
Related Parties (Net Intercompany Payables) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
IPL [Member] | ||
Related Party Transaction [Line Items] | ||
Intercompany payables to Corporate Services | $84 | $62 |
WPL [Member] | ||
Related Party Transaction [Line Items] | ||
Intercompany payables to Corporate Services | $58 | $46 |
Related_Parties_Related_Amount
Related Parties (Related Amounts Billed Between Parties) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
ATC Billings To WPL [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts billed between related parties | $96 | $96 | $90 |
WPL Billings To ATC [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts billed between related parties | $9 | $12 | $11 |
Discontinued_Operations_and_As2
Discontinued Operations and Assets and Liabilities Held For Sale (Components Of Discontinued Operations In Consolidated Statements Of Income) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Discontinued Operations and Disposal Groups [Abstract] | |||
Operating revenues | $0 | $0.90 | $289.20 |
Operating expenses | 3.7 | 9.9 | 297 |
Interest expense and other | 0 | 0 | 0.7 |
Loss before income taxes | -3.7 | -9 | -8.5 |
Income tax benefit | -1.3 | -3.1 | -3.4 |
Loss from discontinued operations, net of tax | ($2.40) | ($5.90) | ($5.10) |
Discontinued_Operations_and_As3
Discontinued Operations and Assets and Liabilities Held For Sale (Components Of Assets And Liabilities Held For Sale In Consolidated Balance Sheets) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Current assets | $1.10 |
Property, plant and equipment,net | 11 |
Other assets | 7 |
Total assets held for sale | 19.1 |
Current liabilities | 1 |
Other liabilities | 7.1 |
Total liabilities held for sale | 8.1 |
Net assets held for sale | $11 |
Selected_Consolidated_Quarterl2
Selected Consolidated Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating revenues | $804.10 | $843.10 | $750.30 | $952.80 | $832.60 | $866.60 | $718 | $859.60 | $3,350.30 | $3,276.80 | $3,094.50 |
Operating income | 91.3 | 194.8 | 103.3 | 154.2 | 108.6 | 201.4 | 103.2 | 120.7 | 543.6 | 533.9 | 519.7 |
Income from continuing operations, net of tax | 60.2 | 155.2 | 62.1 | 108 | 66.5 | 158.9 | 65.9 | 72.9 | 385.5 | 364.2 | 324.9 |
Loss from discontinued operations, net of tax | -0.2 | -1.9 | -0.3 | 0 | -1 | -1.3 | -0.6 | -3 | -2.4 | -5.9 | -5.1 |
Net income | 393.3 | 376.2 | 335.7 | ||||||||
Net income (loss) attributable to common shareowners | 60 | 153.3 | 61.8 | 108 | 65.5 | 157.6 | 65.3 | 69.9 | 383.1 | 358.3 | 319.8 |
Income from continuing operations, net of tax (in dollars per share) | $0.54 | $1.40 | $0.56 | $0.97 | $0.60 | $1.43 | $0.59 | $0.66 | |||
Loss from discontinued operations, net of tax (in dollars per share) | $0 | ($0.02) | $0 | $0 | ($0.01) | ($0.01) | $0 | ($0.03) | |||
Net income (in dollars per share) | $0.54 | $1.38 | $0.56 | $0.97 | $0.59 | $1.42 | $0.59 | $0.63 | |||
IPL [Member] | |||||||||||
Operating revenues | 431.1 | 476.2 | 411.9 | 528.9 | 463.1 | 494.4 | 383.4 | 477.9 | 1,848.10 | 1,818.80 | 1,650.30 |
Operating income | 23.8 | 93.9 | 34 | 57.5 | 36.2 | 100 | 34.7 | 41.1 | 209.2 | 212 | 200.3 |
Net income | 22.6 | 105.1 | 20.9 | 46 | 21.1 | 112.6 | 24.7 | 31.5 | 194.6 | 189.9 | 150.2 |
Net income (loss) attributable to common shareowners | 20.1 | 102.5 | 18.4 | 43.4 | 18.5 | 110 | 22.2 | 22.9 | 184.4 | 173.6 | 137.6 |
WPL [Member] | |||||||||||
Operating revenues | 359.8 | 354.4 | 324.5 | 410.4 | 355.7 | 360.9 | 319.9 | 369.8 | 1,449.10 | 1,406.30 | 1,392 |
Operating income | 59.4 | 93.9 | 60 | 87.7 | 67.8 | 95.9 | 59.7 | 72.7 | 301 | 296.1 | 284.8 |
Net income | 29.8 | 61.6 | 34.6 | 54.8 | 38.2 | 61.3 | 34.4 | 43.6 | 180.8 | 177.5 | 165.7 |
Net income (loss) attributable to common shareowners | $29.10 | $61.60 | $34.60 | $54.80 | $38.20 | $61.30 | $34.40 | $42 | $180.10 | $175.90 | $162.40 |
Condensed_Parent_Company_Finan2
Condensed Parent Company Financial Statements (Condensed Statements Of Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating revenues | $804.10 | $843.10 | $750.30 | $952.80 | $832.60 | $866.60 | $718 | $859.60 | $3,350.30 | $3,276.80 | $3,094.50 |
Operating expenses | 2,806.70 | 2,742.90 | 2,574.80 | ||||||||
Operating income (loss) | 91.3 | 194.8 | 103.3 | 154.2 | 108.6 | 201.4 | 103.2 | 120.7 | 543.6 | 533.9 | 519.7 |
Interest expense and other: | |||||||||||
Equity earnings from consolidated subsidiaries | -40.4 | -43.7 | -41.3 | ||||||||
Interest expense | 180.6 | 172.8 | 156.7 | ||||||||
Total interest expense and other | 103.6 | 97.9 | 89.5 | ||||||||
Income from continuing operations before income taxes | 440 | 436 | 430.2 | ||||||||
Income tax benefit | 44.3 | 53.9 | 89.4 | ||||||||
Net income | 393.3 | 376.2 | 335.7 | ||||||||
Parent Company [Member] | |||||||||||
Operating revenues | 2 | 2 | 2 | ||||||||
Operating expenses | 3 | 1 | 1 | ||||||||
Operating income (loss) | -1 | 1 | 1 | ||||||||
Interest expense and other: | |||||||||||
Equity earnings from consolidated subsidiaries | -387 | -362 | -322 | ||||||||
Interest expense | 9 | 11 | 11 | ||||||||
Interest income | -2 | -2 | -4 | ||||||||
Total interest expense and other | -380 | -353 | -315 | ||||||||
Income from continuing operations before income taxes | 379 | 354 | 316 | ||||||||
Income tax benefit | -4 | -4 | -4 | ||||||||
Net income | $383 | $358 | $320 |
Condensed_Parent_Company_Finan3
Condensed Parent Company Financial Statements (Condensed Balance Sheet) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||||
Current assets: | ||||
Other | $116.90 | $125.70 | ||
Total current assets | 1,043.10 | 1,011.20 | ||
Investments: | ||||
Other | 58.4 | 57.5 | ||
Total investments | 344.9 | 329.6 | ||
Other assets | 1,759.50 | 1,445.10 | ||
Total assets | 12,085.90 | 11,112.40 | 10,785.50 | |
Current liabilities: | ||||
Current maturities of long-term debt | 183 | 358.5 | ||
Commercial paper | 141.3 | 279.4 | ||
Other | 262.4 | 233.8 | ||
Total current liabilities | 1,214.70 | 1,433.30 | ||
Long-term debt, net | 3,606.70 | 2,977.80 | ||
Other liabilities: | ||||
Non-current deferred tax liabilities | 2,321.10 | 2,112.70 | ||
Other | 260.1 | 273.9 | ||
Total other liabilities | 3,624 | 3,218.10 | ||
Common Equity: | ||||
Retained earnings | 1,938 | 1,780.70 | ||
Shares in deferred compensation trust | -8.9 | -8 | ||
Total common equity | 3,438.70 | 3,281.40 | 3,134.90 | 3,013 |
Total liabilities and equity | 12,085.90 | 11,112.40 | ||
Parent Company [Member] | ||||
Current assets: | ||||
Notes receivable from affiliated companies | 95 | 72 | ||
Other | 4 | 3 | ||
Total current assets | 99 | 75 | ||
Investments: | ||||
Investments in consolidated subsidiaries | 3,753 | 3,585 | ||
Other | 15 | 14 | ||
Total investments | 3,768 | 3,599 | ||
Other assets | 10 | 6 | ||
Total assets | 3,877 | 3,680 | ||
Current liabilities: | ||||
Current maturities of long-term debt | 0 | 250 | ||
Commercial paper | 141 | 96 | ||
Other | 29 | 10 | ||
Total current liabilities | 170 | 356 | ||
Long-term debt, net | 250 | 0 | ||
Other liabilities: | ||||
Non-current deferred tax liabilities | 11 | 39 | ||
Other | 11 | 7 | ||
Total other liabilities | 22 | 46 | ||
Common Equity: | ||||
Common stock and additional paid-in capital | 1,510 | 1,509 | ||
Retained earnings | 1,934 | 1,777 | ||
Shares in deferred compensation trust | -9 | -8 | ||
Total common equity | 3,435 | 3,278 | ||
Total liabilities and equity | $3,877 | $3,680 |
Condensed_Parent_Company_Finan4
Condensed Parent Company Financial Statements (Condensed Statements of Cash Flow) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net cash flows from operating activities | $891.60 | $731 | $841.10 |
Cash flows used for investing activities: | |||
Other | -14.9 | -18.8 | 2.6 |
Net cash flows used for investing activities | -917.7 | -754.7 | -1,155.50 |
Cash flows used for financing activities: | |||
Common stock dividends | -225.8 | -208.3 | -199.3 |
Proceeds from issuance of long-term debt | 812.9 | 250 | 385 |
Payments to retire long-term debt | -358.5 | -1.5 | -1.4 |
Net change in commercial paper | -138.1 | 11.9 | 164.7 |
Other | -7.1 | -17.4 | -8.9 |
Net cash flows from (used for) financing activities | 73.2 | 12.3 | 324.2 |
Net increase (decrease) in cash and cash equivalents | 47.1 | -11.4 | 9.8 |
Cash and cash equivalents at beginning of period | 9.8 | 21.2 | 11.4 |
Cash and cash equivalents at end of period | 56.9 | 9.8 | 21.2 |
Supplemental cash flows information: | |||
Interest, net of capitalized interest | -180.8 | -171.7 | -155.2 |
Income taxes, net | 5.3 | 9.6 | 20.3 |
Parent Company [Member] | |||
Net cash flows from operating activities | 246 | 238 | 260 |
Cash flows used for investing activities: | |||
Capital contributions to consolidated subsidiaries | -90 | -120 | -230 |
Captial repayments from consolidated subsidiaries | 50 | 95 | 0 |
Net change in notes receivable from affiliates | -23 | 5 | 134 |
Other | 0 | -2 | 1 |
Net cash flows used for investing activities | -63 | -22 | -95 |
Cash flows used for financing activities: | |||
Common stock dividends | -226 | -208 | -199 |
Proceeds from issuance of long-term debt | 250 | 0 | 0 |
Payments to retire long-term debt | -250 | 0 | 0 |
Net change in commercial paper | 45 | -9 | 35 |
Other | -2 | 1 | -1 |
Net cash flows from (used for) financing activities | -183 | -216 | -165 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 | 0 |
Supplemental cash flows information: | |||
Interest, net of capitalized interest | -11 | -13 | -11 |
Income taxes, net | ($5) | ($7) | $29 |
Recovered_Sheet1
Valuation And Qualifying Accounts and Reserves (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Accumulated Provision for Uncollectible Accounts [Member] | ||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Beginning Balance | $4.80 | [1] | $4 | [1] | $4.20 | [1] |
Charged to Expense | 11.7 | [1] | 13.6 | [1] | 6.6 | [1] |
Charged to Other Accounts | 4.1 | [1],[2] | 0.6 | [1],[2] | 1.2 | [1],[2] |
Deductions | 15.5 | [1],[3] | 13.4 | [1],[3] | 8 | [1],[3] |
Ending Balance | 5.1 | [1] | 4.8 | [1] | 4 | [1] |
Accumulated Provision for Uncollectible Accounts [Member] | IPL [Member] | ||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Beginning Balance | 0.7 | [1] | 0.7 | [1] | 0.9 | [1] |
Charged to Expense | 11.5 | [1] | 12.7 | [1] | 6.4 | [1] |
Charged to Other Accounts | 0 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] |
Deductions | 11.8 | [1],[3] | 12.7 | [1],[3] | 6.6 | [1],[3] |
Ending Balance | 0.4 | [1] | 0.7 | [1] | 0.7 | [1] |
Accumulated Provision for Uncollectible Accounts [Member] | WPL [Member] | ||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Beginning Balance | 1.7 | 1.8 | 1.9 | |||
Charged to Expense | 0 | 0 | 0.1 | |||
Charged to Other Accounts | 4.1 | [2] | 0.6 | [2] | 1.2 | [2] |
Deductions | 1.6 | [3] | 0.7 | [3] | 1.4 | [3] |
Ending Balance | 4.2 | 1.7 | 1.8 | |||
Accumulated Provision for Other Reserves [Member] | ||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Beginning Balance | 38.2 | [4] | 33.4 | [4] | 25.9 | [4] |
Charged to Expense | 12.5 | [4] | 23.2 | [4] | 9.6 | [4] |
Charged to Other Accounts | 0 | [2],[4] | 0 | [2],[4] | 0 | [2],[4] |
Deductions | 18.1 | [3],[4] | 18.4 | [3],[4] | 2.1 | [3],[4] |
Ending Balance | 32.6 | [4] | 38.2 | [4] | 33.4 | [4] |
Accumulated Provision for Other Reserves [Member] | IPL [Member] | ||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Beginning Balance | 18.1 | [4] | 11.6 | [4] | 10.2 | [4] |
Charged to Expense | 3.9 | [4] | 9.3 | [4] | 2.1 | [4] |
Charged to Other Accounts | 0 | [2],[4] | 0 | [2],[4] | 0 | [2],[4] |
Deductions | 11.4 | [3],[4] | 2.8 | [3],[4] | 0.7 | [3],[4] |
Ending Balance | 10.6 | [4] | 18.1 | [4] | 11.6 | [4] |
Accumulated Provision for Other Reserves [Member] | WPL [Member] | ||||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||||
Beginning Balance | 16.2 | [4] | 13.5 | [4] | 11.7 | [4] |
Charged to Expense | 2.5 | [4] | 8.8 | [4] | 3.1 | [4] |
Charged to Other Accounts | 0 | [2],[4] | 0 | [2],[4] | 0 | [2],[4] |
Deductions | 2.4 | [3],[4] | 6.1 | [3],[4] | 1.3 | [3],[4] |
Ending Balance | $16.30 | [4] | $16.20 | [4] | $13.50 | [4] |
[1] | Refer to Note 5(b) for discussion of IPLbs sales of accounts receivable program. | |||||
[2] | Accumulated provision for uncollectible accounts: In accordance with its regulatory treatment, certain amounts provided by WPL are recorded in regulatory assets. | |||||
[3] | 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. | |||||
[4] | Other reserves are largely related to injury and damage claims arising in the ordinary course of business. |