Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2016shares | |
Entity Registrant Name | ALLIANT ENERGY CORP |
Entity Central Index Key | 352,541 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 113,562,651 |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q1 |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2016 |
IPL [Member] | |
Entity Registrant Name | INTERSTATE POWER & LIGHT CO |
Entity Central Index Key | 52,485 |
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 | 107,832 |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 13,236,601 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Operating revenues: | ||
Electric utility | $ 668.9 | $ 671.3 |
Gas utility | 152.2 | 198.4 |
Other utility | 13.2 | 16.4 |
Non-regulated | 9.5 | 11.3 |
Total operating revenues | 843.8 | 897.4 |
Operating expenses: | ||
Electric production fuel and purchased power | 200.9 | 215.9 |
Electric transmission service | 127.9 | 123.2 |
Cost of gas sold | 95.2 | 130.8 |
Other operation and maintenance | 145.1 | 147.9 |
Depreciation and amortization | 102.5 | 100.2 |
Taxes other than income taxes | 26.3 | 26.5 |
Total operating expenses | 697.9 | 744.5 |
Operating income | 145.9 | 152.9 |
Interest expense and other: | ||
Interest expense | 48 | 46.6 |
Equity income from unconsolidated investments, net | (10.5) | (6.5) |
Allowance for funds used during construction | (13.2) | (6.8) |
Interest income and other | (0.2) | (0.1) |
Total interest expense and other | 24.1 | 33.2 |
Income from continuing operations before income taxes | 121.8 | 119.7 |
Income tax expense (benefit) | 21.6 | 20.5 |
Income from continuing operations, net of tax | 100.2 | 99.2 |
Loss from discontinued operations, net of tax | (1.1) | 0 |
Net income | 99.1 | 99.2 |
Preferred dividend requirements of Interstate Power and Light Company | 2.6 | 2.6 |
Net income (loss) attributable to common shareowners | $ 96.5 | $ 96.6 |
Weighted average number of common shares outstanding (basic and diluted) (in shares) | 113.4 | 111.1 |
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) | $ 0.86 | $ 0.87 |
Loss from discontinued operations, net of tax (in dollars per share) | (0.01) | 0 |
Net income (in dollars per share) | $ 0.85 | $ 0.87 |
Amounts attributable to common shareowners: | ||
Income from continuing operations, net of tax | $ 97.6 | $ 96.6 |
Loss from discontinued operations, net of tax | (1.1) | 0 |
Net income (loss) attributable to common shareowners | $ 96.5 | $ 96.6 |
Dividends declared per common share (in dollars per share) | $ 0.5875 | $ 0.55 |
IPL [Member] | ||
Operating revenues: | ||
Electric utility | $ 361.6 | $ 362.6 |
Gas utility | 84.2 | 111.2 |
Other utility | 12.9 | 15.2 |
Total operating revenues | 458.7 | 489 |
Operating expenses: | ||
Electric production fuel and purchased power | 99.4 | 110.1 |
Electric transmission service | 86.5 | 83.9 |
Cost of gas sold | 52.4 | 71 |
Other operation and maintenance | 92 | 92.6 |
Depreciation and amortization | 52.7 | 51.8 |
Taxes other than income taxes | 13.7 | 14.1 |
Total operating expenses | 396.7 | 423.5 |
Operating income | 62 | 65.5 |
Interest expense and other: | ||
Interest expense | 24.9 | 24.1 |
Allowance for funds used during construction | (10.3) | (5.3) |
Interest income and other | 0 | (0.1) |
Total interest expense and other | 14.6 | 18.7 |
Income from continuing operations before income taxes | 47.4 | 46.8 |
Income tax expense (benefit) | (0.8) | (3.3) |
Net income | 48.2 | 50.1 |
Preferred dividend requirements of Interstate Power and Light Company | 2.6 | 2.6 |
Net income (loss) attributable to common shareowners | 45.6 | 47.5 |
Amounts attributable to common shareowners: | ||
Net income (loss) attributable to common shareowners | 45.6 | 47.5 |
WPL [Member] | ||
Operating revenues: | ||
Electric utility | 307.3 | 308.7 |
Gas utility | 68 | 87.2 |
Other utility | 0.3 | 1.2 |
Total operating revenues | 375.6 | 397.1 |
Operating expenses: | ||
Electric production fuel and purchased power | 101.5 | 105.8 |
Electric transmission service | 41.4 | 39.3 |
Cost of gas sold | 42.8 | 59.8 |
Other operation and maintenance | 52.1 | 54 |
Depreciation and amortization | 47.4 | 46 |
Taxes other than income taxes | 11.6 | 11.4 |
Total operating expenses | 296.8 | 316.3 |
Operating income | 78.8 | 80.8 |
Interest expense and other: | ||
Interest expense | 22.9 | 23.1 |
Equity income from unconsolidated investments, net | (10.7) | (7.8) |
Allowance for funds used during construction | (2.9) | (1.5) |
Interest income and other | (0.1) | 0.1 |
Total interest expense and other | 9.2 | 13.9 |
Income from continuing operations before income taxes | 69.6 | 66.9 |
Income tax expense (benefit) | 22.6 | 21.8 |
Net income | 47 | 45.1 |
Net income attributable to noncontrolling interest | 0.5 | 0.2 |
Net income (loss) attributable to common shareowners | 46.5 | 44.9 |
Amounts attributable to common shareowners: | ||
Net income (loss) attributable to common shareowners | $ 46.5 | $ 44.9 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 4.8 | $ 5.8 |
Accounts receivable, less allowance for doubtful accounts | 390.6 | 397.6 |
Production fuel, at weighted average cost | 98 | 98.8 |
Gas stored underground, at weighted average cost | 15.9 | 43.3 |
Materials and supplies, at weighted average cost | 83.3 | 81.4 |
Regulatory assets | 111.5 | 120.2 |
Other | 64.4 | 79.7 |
Total current assets | 768.5 | 826.8 |
Property, plant and equipment, net | 9,626.6 | 9,519.1 |
Investments: | ||
Investment in American Transmission Company LLC | 302.5 | 293.3 |
Other | 21 | 53 |
Total investments | 323.5 | 346.3 |
Other assets: | ||
Regulatory assets | 1,805.7 | 1,788.4 |
Deferred charges and other | 10.7 | 14.6 |
Total other assets | 1,816.4 | 1,803 |
Total assets | 12,535 | 12,495.2 |
Current liabilities: | ||
Current maturities of long-term debt | 313.4 | 313.4 |
Commercial paper | 213.4 | 159.8 |
Accounts payable | 323.8 | 402.4 |
Regulatory liabilities | 193.1 | 187.1 |
Other | 304.8 | 296.6 |
Total current liabilities | 1,348.5 | 1,359.3 |
Long-term debt, net (excluding current portion) | 3,522.7 | 3,522.2 |
Other liabilities: | ||
Deferred tax liabilities | 2,424.6 | 2,381.2 |
Regulatory liabilities | 517.9 | 550.6 |
Pension and other benefit obligations | 446.5 | 451.8 |
Other | 310.2 | 306 |
Total other liabilities | $ 3,699.2 | $ 3,689.6 |
Commitments and contingencies (Note 13) | ||
Common equity: | ||
Common stock | $ 1.1 | $ 1.1 |
Additional paid-in capital | 1,673.7 | 1,663 |
Retained earnings | 2,098.9 | 2,068.9 |
Accumulated other comprehensive loss | (0.4) | (0.4) |
Shares in deferred compensation trust - 214,881 and 215,093 shares at a weighted average cost of $40.36 and $39.69 per share | (8.7) | (8.5) |
Total common equity | 3,764.6 | 3,724.1 |
Cumulative preferred stock of Interstate Power and Light Company | 200 | 200 |
Total equity | 3,964.6 | 3,924.1 |
Total liabilities and equity | 12,535 | 12,495.2 |
IPL [Member] | ||
Current assets: | ||
Cash and cash equivalents | 3 | 4.5 |
Accounts receivable, less allowance for doubtful accounts | 180.9 | 200 |
Production fuel, at weighted average cost | 60.8 | 60.2 |
Gas stored underground, at weighted average cost | 3.1 | 18.2 |
Materials and supplies, at weighted average cost | 47 | 45.7 |
Regulatory assets | 29.7 | 39.6 |
Other | 13.8 | 28.2 |
Total current assets | 338.3 | 396.4 |
Property, plant and equipment, net | 4,993.8 | 4,925.1 |
Investments: | ||
Total investments | 0.7 | 19.6 |
Other assets: | ||
Regulatory assets | 1,376.2 | 1,363 |
Deferred charges and other | 4.4 | 5 |
Total other assets | 1,380.6 | 1,368 |
Total assets | 6,713.4 | 6,709.1 |
Current liabilities: | ||
Commercial paper | 0 | |
Accounts payable | 153.5 | 197.2 |
Regulatory liabilities | 133.1 | 130.9 |
Other | 198.3 | 203 |
Total current liabilities | 484.9 | 531.1 |
Long-term debt, net (excluding current portion) | 1,857.4 | 1,856.9 |
Other liabilities: | ||
Deferred tax liabilities | 1,408.9 | 1,378 |
Regulatory liabilities | 335.1 | 358.3 |
Pension and other benefit obligations | 160.5 | 160.2 |
Other | 223.7 | 229.3 |
Total other liabilities | $ 2,128.2 | $ 2,125.8 |
Commitments and contingencies (Note 13) | ||
Common equity: | ||
Common stock | $ 33.4 | $ 33.4 |
Additional paid-in capital | 1,447.9 | 1,407.8 |
Retained earnings | 561.6 | 554.1 |
Total common equity | 2,042.9 | 1,995.3 |
Cumulative preferred stock of Interstate Power and Light Company | 200 | 200 |
Total equity | 2,242.9 | 2,195.3 |
Total liabilities and equity | 6,713.4 | 6,709.1 |
WPL [Member] | ||
Current assets: | ||
Cash and cash equivalents | 1.3 | 0.4 |
Accounts receivable, less allowance for doubtful accounts | 192.6 | 185.4 |
Production fuel, at weighted average cost | 37.2 | 38.6 |
Gas stored underground, at weighted average cost | 12.8 | 25.1 |
Materials and supplies, at weighted average cost | 34 | 33.5 |
Regulatory assets | 81.8 | 80.6 |
Other | 51.2 | 59.9 |
Total current assets | 410.9 | 423.5 |
Property, plant and equipment, net | 4,141.6 | 4,103.7 |
Investments: | ||
Investment in American Transmission Company LLC | 302.5 | 293.3 |
Other | 14.7 | 15.4 |
Total investments | 317.2 | 308.7 |
Other assets: | ||
Regulatory assets | 429.5 | 425.4 |
Deferred charges and other | 6.7 | 9.1 |
Total other assets | 436.2 | 434.5 |
Total assets | 5,305.9 | 5,270.4 |
Current liabilities: | ||
Commercial paper | 25.5 | 19.9 |
Accounts payable | 111 | 136 |
Regulatory liabilities | 60 | 56.2 |
Other | 146.7 | 124.8 |
Total current liabilities | 343.2 | 336.9 |
Long-term debt, net (excluding current portion) | 1,534.2 | 1,533.9 |
Other liabilities: | ||
Deferred tax liabilities | 1,025.1 | 1,005.4 |
Regulatory liabilities | 182.8 | 192.3 |
Capital lease obligations - Sheboygan Falls Energy Facility | 82.1 | 83.6 |
Pension and other benefit obligations | 186.4 | 188.7 |
Other | 169 | 162 |
Total other liabilities | $ 1,645.4 | $ 1,632 |
Commitments and contingencies (Note 13) | ||
Common equity: | ||
Common stock | $ 66.2 | $ 66.2 |
Additional paid-in capital | 959.1 | 959 |
Retained earnings | 743.8 | 731.1 |
Total common equity | 1,769.1 | 1,756.3 |
Noncontrolling interest | 14 | 11.3 |
Total equity | 1,783.1 | 1,767.6 |
Total liabilities and equity | $ 5,305.9 | $ 5,270.4 |
Condensed Consolidated Balance4
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2016 | Dec. 31, 2015 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 240,000,000 | 240,000,000 |
Common stock, shares outstanding (in shares) | 113,562,651 | 113,459,216 |
Shares in deferred compensation trust (in shares) | 214,881 | 215,093 |
Shares in deferred compensation trust, weighted average cost per share (in dollars per share) | $ 40.36 | $ 39.69 |
IPL [Member] | ||
Common stock, par value | $ 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 | $ 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 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 99.1 | $ 99.2 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 102.5 | 100.2 |
Deferred tax expense and investment tax credits | 22.8 | 29.7 |
Other | (17.6) | (0.1) |
Other changes in assets and liabilities: | ||
Accounts receivable | (47.8) | 6.6 |
Sales of accounts receivable | 57 | 52 |
Gas stored underground | 27.4 | 49.5 |
Accounts payable | (31.2) | (32.8) |
Regulatory liabilities | (28.7) | (6.6) |
Other | 44.8 | 17 |
Net cash flows from operating activities | 228.3 | 314.7 |
Cash flows used for investing activities: | ||
Utility construction and acquisition expenditures | (220.4) | (226) |
Alliant Energy Corporate Services, Inc. and non-regulated businesses construction and acquisition expenditures | (18.8) | (19.8) |
Other | 19.2 | (5.1) |
Net cash flows used for investing activities | (220) | (250.9) |
Cash flows from (used for) financing activities: | ||
Common stock dividends | (66.5) | (60.7) |
Proceeds from issuance of common stock, net | 6.2 | 122.1 |
Net change in commercial paper | 53.6 | (99.8) |
Other | (2.6) | 15.3 |
Net cash flows from (used for) financing activities | (9.3) | (23.1) |
Net increase (decrease) in cash and cash equivalents | (1) | 40.7 |
Cash and cash equivalents at beginning of period | 5.8 | 56.9 |
Cash and cash equivalents at end of period | 4.8 | 97.6 |
Supplemental cash flows information: | ||
Interest, net of capitalized interest | (44.5) | (40.2) |
Income taxes, net | 0 | 0.1 |
Significant non-cash investing and financing activities: | ||
Accrued capital expenditures | 105 | 119 |
IPL [Member] | ||
Cash flows from operating activities: | ||
Net income | 48.2 | 50.1 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 52.7 | 51.8 |
Other | 3.2 | 12.8 |
Other changes in assets and liabilities: | ||
Accounts receivable | (37.5) | (2.2) |
Sales of accounts receivable | 57 | 52 |
Gas stored underground | 15.1 | 26.4 |
Accounts payable | (19.5) | (36.1) |
Regulatory liabilities | (23.6) | (11.8) |
Other | 20.8 | 27.1 |
Net cash flows from operating activities | 116.4 | 170.1 |
Cash flows used for investing activities: | ||
Utility construction and acquisition expenditures | (135.3) | (150.6) |
Other | 12.1 | (5.7) |
Net cash flows used for investing activities | (123.2) | (156.3) |
Cash flows from (used for) financing activities: | ||
Common stock dividends | (38.1) | (35) |
Capital contributions from parent | 40 | 0 |
Other | 3.4 | 18.5 |
Net cash flows from (used for) financing activities | 5.3 | (16.5) |
Net increase (decrease) in cash and cash equivalents | (1.5) | (2.7) |
Cash and cash equivalents at beginning of period | 4.5 | 5.3 |
Cash and cash equivalents at end of period | 3 | 2.6 |
Supplemental cash flows information: | ||
Interest, net of capitalized interest | (22.6) | (18.4) |
Income taxes, net | 1.1 | 6.2 |
Significant non-cash investing and financing activities: | ||
Accrued capital expenditures | 47.6 | 82.8 |
WPL [Member] | ||
Cash flows from operating activities: | ||
Net income | 47 | 45.1 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 47.4 | 46 |
Deferred tax expense and investment tax credits | 18.8 | 10.1 |
Other | (10.9) | (0.9) |
Other changes in assets and liabilities: | ||
Gas stored underground | 12.3 | 23.1 |
Accounts payable | (15.3) | 4 |
Derivative liabilities | 19.5 | 4.6 |
Other | 4.8 | 25.8 |
Net cash flows from operating activities | 123.6 | 157.8 |
Cash flows used for investing activities: | ||
Utility construction and acquisition expenditures | (85.1) | (75.4) |
Other | (6.3) | (3) |
Net cash flows used for investing activities | (91.4) | (78.4) |
Cash flows from (used for) financing activities: | ||
Common stock dividends | (33.8) | (31.8) |
Other | 2.5 | (3.4) |
Net cash flows from (used for) financing activities | (31.3) | (35.2) |
Net increase (decrease) in cash and cash equivalents | 0.9 | 44.2 |
Cash and cash equivalents at beginning of period | 0.4 | 46.7 |
Cash and cash equivalents at end of period | 1.3 | 90.9 |
Supplemental cash flows information: | ||
Interest, net of capitalized interest | (21.9) | (22.6) |
Income taxes, net | (7.4) | 9.1 |
Significant non-cash investing and financing activities: | ||
Accrued capital expenditures | $ 49.7 | $ 32.9 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2016 | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the latest combined Annual Report on Form 10-K. In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the three months ended March 31, 2016 are not necessarily indicative of results that may be expected for the year ending December 31, 2016 . A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. Unless otherwise noted, the Notes herein exclude discontinued operations for all periods presented. In the fourth quarter of 2015, IPL and WPL implemented a change in method of recording income taxes that impacts the separate financial statements of IPL and WPL. As required by GAAP, all prior period financial statements and disclosures presented herein have been restated to reflect these changes. NOTE 1(b) New Accounting Standards - Revenue Recognition - In May 2014, the Financial Accounting Standards Board 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 currently expect to adopt this standard on January 1, 2018 and are currently evaluating the impact of this standard on their financial condition and results of operations. Leases - In February 2016, the Financial Accounting Standards Board issued an accounting standard requiring lease assets and lease liabilities, including operating leases, to be recognized on the balance sheet for all leases with terms longer than 12 months. The standard also requires disclosure of key information about leasing arrangements. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2019 and are currently evaluating the impact of this standard on their financial condition and results of operations. Early adoption of this standard is permitted. |
IPL [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the latest combined Annual Report on Form 10-K. In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the three months ended March 31, 2016 are not necessarily indicative of results that may be expected for the year ending December 31, 2016 . A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. Unless otherwise noted, the Notes herein exclude discontinued operations for all periods presented. In the fourth quarter of 2015, IPL and WPL implemented a change in method of recording income taxes that impacts the separate financial statements of IPL and WPL. As required by GAAP, all prior period financial statements and disclosures presented herein have been restated to reflect these changes. NOTE 1(b) New Accounting Standards - Revenue Recognition - In May 2014, the Financial Accounting Standards Board 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 currently expect to adopt this standard on January 1, 2018 and are currently evaluating the impact of this standard on their financial condition and results of operations. Leases - In February 2016, the Financial Accounting Standards Board issued an accounting standard requiring lease assets and lease liabilities, including operating leases, to be recognized on the balance sheet for all leases with terms longer than 12 months. The standard also requires disclosure of key information about leasing arrangements. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2019 and are currently evaluating the impact of this standard on their financial condition and results of operations. Early adoption of this standard is permitted. |
WPL [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the latest combined Annual Report on Form 10-K. In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the three months ended March 31, 2016 are not necessarily indicative of results that may be expected for the year ending December 31, 2016 . A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. Unless otherwise noted, the Notes herein exclude discontinued operations for all periods presented. In the fourth quarter of 2015, IPL and WPL implemented a change in method of recording income taxes that impacts the separate financial statements of IPL and WPL. As required by GAAP, all prior period financial statements and disclosures presented herein have been restated to reflect these changes. NOTE 1(b) New Accounting Standards - Revenue Recognition - In May 2014, the Financial Accounting Standards Board 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 currently expect to adopt this standard on January 1, 2018 and are currently evaluating the impact of this standard on their financial condition and results of operations. Leases - In February 2016, the Financial Accounting Standards Board issued an accounting standard requiring lease assets and lease liabilities, including operating leases, to be recognized on the balance sheet for all leases with terms longer than 12 months. The standard also requires disclosure of key information about leasing arrangements. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2019 and are currently evaluating the impact of this standard on their financial condition and results of operations. Early adoption of this standard is permitted. |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2016 | |
Public Utilities, General Disclosures [Line Items] | |
Regulatory Matters | REGULATORY MATTERS Regulatory Assets and Regulatory Liabilities - Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $1,002.7 $987.7 $972.0 $958.2 $30.7 $29.5 Pension and OPEB costs 570.0 579.5 293.6 298.1 276.4 281.4 AROs 96.1 92.4 54.1 50.8 42.0 41.6 Derivatives 86.6 70.6 25.5 28.2 61.1 42.4 WPL’s EGUs retired early 43.2 45.0 — — 43.2 45.0 Emission allowances 26.7 26.9 26.7 26.9 — — Commodity cost recovery 26.3 35.9 0.3 2.8 26.0 33.1 Other 65.6 70.6 33.7 37.6 31.9 33.0 $1,917.2 $1,908.6 $1,405.9 $1,402.6 $511.3 $506.0 Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Cost of removal obligations $408.1 $406.0 $263.1 $260.4 $145.0 $145.6 IPL’s tax benefit riders 141.1 159.2 141.1 159.2 — — Electric transmission cost recovery 51.4 43.5 25.5 21.9 25.9 21.6 Energy efficiency cost recovery 41.6 48.3 — — 41.6 48.3 Commodity cost recovery 35.2 37.6 20.4 23.5 14.8 14.1 Other 33.6 43.1 18.1 24.2 15.5 18.9 $711.0 $737.7 $468.2 $489.2 $242.8 $248.5 Tax-related - Alliant Energy’s and IPL’s tax-related regulatory assets are generally impacted by certain property-related differences at IPL for which deferred tax is not recorded in the income statement pursuant to Iowa rate-making principles. Deferred tax amounts for such property-related differences at IPL are recorded to regulatory assets, along with the necessary revenue requirement tax gross-ups. During the three months ended March 31 , 2016 , Alliant Energy’s and IPL’s tax-related regulatory assets increased primarily due to property-related differences for qualifying repair expenditures. Derivatives - Refer to Note 12 for discussion of derivative assets and derivative liabilities. 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. For the three months ended March 31 , 2016 , Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by $18 million as follows (in millions): Electric tax benefit rider credits $15 Gas tax benefit rider credits 3 $18 Refer to Note 8 for additional details regarding IPL’s tax benefit riders. Utility Rate Cases - IPL’s Iowa Retail Electric Rate Settlement Agreement - The IUB approved a settlement agreement in 2014 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. For the three months ended March 31 , IPL recorded billing credits to reduce retail electric customers’ bills as follows (in millions): 2016 2015 Billing credits to reduce retail electric customers’ bills $2 $6 |
IPL [Member] | |
Public Utilities, General Disclosures [Line Items] | |
Regulatory Matters | REGULATORY MATTERS Regulatory Assets and Regulatory Liabilities - Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $1,002.7 $987.7 $972.0 $958.2 $30.7 $29.5 Pension and OPEB costs 570.0 579.5 293.6 298.1 276.4 281.4 AROs 96.1 92.4 54.1 50.8 42.0 41.6 Derivatives 86.6 70.6 25.5 28.2 61.1 42.4 WPL’s EGUs retired early 43.2 45.0 — — 43.2 45.0 Emission allowances 26.7 26.9 26.7 26.9 — — Commodity cost recovery 26.3 35.9 0.3 2.8 26.0 33.1 Other 65.6 70.6 33.7 37.6 31.9 33.0 $1,917.2 $1,908.6 $1,405.9 $1,402.6 $511.3 $506.0 Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Cost of removal obligations $408.1 $406.0 $263.1 $260.4 $145.0 $145.6 IPL’s tax benefit riders 141.1 159.2 141.1 159.2 — — Electric transmission cost recovery 51.4 43.5 25.5 21.9 25.9 21.6 Energy efficiency cost recovery 41.6 48.3 — — 41.6 48.3 Commodity cost recovery 35.2 37.6 20.4 23.5 14.8 14.1 Other 33.6 43.1 18.1 24.2 15.5 18.9 $711.0 $737.7 $468.2 $489.2 $242.8 $248.5 Tax-related - Alliant Energy’s and IPL’s tax-related regulatory assets are generally impacted by certain property-related differences at IPL for which deferred tax is not recorded in the income statement pursuant to Iowa rate-making principles. Deferred tax amounts for such property-related differences at IPL are recorded to regulatory assets, along with the necessary revenue requirement tax gross-ups. During the three months ended March 31 , 2016 , Alliant Energy’s and IPL’s tax-related regulatory assets increased primarily due to property-related differences for qualifying repair expenditures. Derivatives - Refer to Note 12 for discussion of derivative assets and derivative liabilities. 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. For the three months ended March 31 , 2016 , Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by $18 million as follows (in millions): Electric tax benefit rider credits $15 Gas tax benefit rider credits 3 $18 Refer to Note 8 for additional details regarding IPL’s tax benefit riders. Utility Rate Cases - IPL’s Iowa Retail Electric Rate Settlement Agreement - The IUB approved a settlement agreement in 2014 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. For the three months ended March 31 , IPL recorded billing credits to reduce retail electric customers’ bills as follows (in millions): 2016 2015 Billing credits to reduce retail electric customers’ bills $2 $6 |
WPL [Member] | |
Public Utilities, General Disclosures [Line Items] | |
Regulatory Matters | REGULATORY MATTERS Regulatory Assets and Regulatory Liabilities - Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $1,002.7 $987.7 $972.0 $958.2 $30.7 $29.5 Pension and OPEB costs 570.0 579.5 293.6 298.1 276.4 281.4 AROs 96.1 92.4 54.1 50.8 42.0 41.6 Derivatives 86.6 70.6 25.5 28.2 61.1 42.4 WPL’s EGUs retired early 43.2 45.0 — — 43.2 45.0 Emission allowances 26.7 26.9 26.7 26.9 — — Commodity cost recovery 26.3 35.9 0.3 2.8 26.0 33.1 Other 65.6 70.6 33.7 37.6 31.9 33.0 $1,917.2 $1,908.6 $1,405.9 $1,402.6 $511.3 $506.0 Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Cost of removal obligations $408.1 $406.0 $263.1 $260.4 $145.0 $145.6 IPL’s tax benefit riders 141.1 159.2 141.1 159.2 — — Electric transmission cost recovery 51.4 43.5 25.5 21.9 25.9 21.6 Energy efficiency cost recovery 41.6 48.3 — — 41.6 48.3 Commodity cost recovery 35.2 37.6 20.4 23.5 14.8 14.1 Other 33.6 43.1 18.1 24.2 15.5 18.9 $711.0 $737.7 $468.2 $489.2 $242.8 $248.5 Tax-related - Alliant Energy’s and IPL’s tax-related regulatory assets are generally impacted by certain property-related differences at IPL for which deferred tax is not recorded in the income statement pursuant to Iowa rate-making principles. Deferred tax amounts for such property-related differences at IPL are recorded to regulatory assets, along with the necessary revenue requirement tax gross-ups. During the three months ended March 31 , 2016 , Alliant Energy’s and IPL’s tax-related regulatory assets increased primarily due to property-related differences for qualifying repair expenditures. Derivatives - Refer to Note 12 for discussion of derivative assets and derivative liabilities. 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. For the three months ended March 31 , 2016 , Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by $18 million as follows (in millions): Electric tax benefit rider credits $15 Gas tax benefit rider credits 3 $18 Refer to Note 8 for additional details regarding IPL’s tax benefit riders. Utility Rate Cases - IPL’s Iowa Retail Electric Rate Settlement Agreement - The IUB approved a settlement agreement in 2014 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. For the three months ended March 31 , IPL recorded billing credits to reduce retail electric customers’ bills as follows (in millions): 2016 2015 Billing credits to reduce retail electric customers’ bills $2 $6 |
Property, Plant and Equipment
Property, Plant and Equipment | 3 Months Ended |
Mar. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT Utility - Emission Controls Project - WPL’s Edgewater Unit 5 - WPL is currently constructing a scrubber and baghouse at Edgewater Unit 5 to reduce SO2 and mercury emissions at the EGU. Construction began in 2014 and is expected to be completed in 2016. As of March 31, 2016 , Alliant Energy and WPL recorded capitalized expenditures for construction work in progress of $207 million and AFUDC of $10 million for the scrubber and baghouse in “Property, plant and equipment, net” on their balance sheets. 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 March 31, 2016 , Alliant Energy and IPL recorded capitalized expenditures for construction work in progress of $492 million and AFUDC of $33 million for Marshalltown in “Property, plant and equipment, net” on their balance sheets. |
IPL [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT Utility - Emission Controls Project - WPL’s Edgewater Unit 5 - WPL is currently constructing a scrubber and baghouse at Edgewater Unit 5 to reduce SO2 and mercury emissions at the EGU. Construction began in 2014 and is expected to be completed in 2016. As of March 31, 2016 , Alliant Energy and WPL recorded capitalized expenditures for construction work in progress of $207 million and AFUDC of $10 million for the scrubber and baghouse in “Property, plant and equipment, net” on their balance sheets. 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 March 31, 2016 , Alliant Energy and IPL recorded capitalized expenditures for construction work in progress of $492 million and AFUDC of $33 million for Marshalltown in “Property, plant and equipment, net” on their balance sheets. |
WPL [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT Utility - Emission Controls Project - WPL’s Edgewater Unit 5 - WPL is currently constructing a scrubber and baghouse at Edgewater Unit 5 to reduce SO2 and mercury emissions at the EGU. Construction began in 2014 and is expected to be completed in 2016. As of March 31, 2016 , Alliant Energy and WPL recorded capitalized expenditures for construction work in progress of $207 million and AFUDC of $10 million for the scrubber and baghouse in “Property, plant and equipment, net” on their balance sheets. |
Receivables
Receivables | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Line Items] | |
Receivables | RECEIVABLES 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. In March 2016, IPL extended through March 2018 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. As of March 31, 2016 , IPL sold $220.5 million of receivables to the third party, received $62.0 million in cash proceeds and recorded deferred proceeds of $154.2 million . IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions): 2016 2015 Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) $75.0 $118.0 Average outstanding aggregate cash proceeds (based on daily outstanding balances) 39.1 68.0 For the three months ended March 31 , 2016 and 2015 , IPL’s costs incurred related to the sales of accounts receivable program were not material. The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): March 31, 2016 December 31, 2015 Customer accounts receivable $142.7 $109.7 Unbilled utility revenues 77.5 71.3 Other receivables 0.3 0.1 Receivables sold to third party 220.5 181.1 Less: cash proceeds (a) 62.0 5.0 Deferred proceeds 158.5 176.1 Less: allowance for doubtful accounts 4.3 4.1 Fair value of deferred proceeds $154.2 $172.0 (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. As of March 31, 2016 , outstanding receivables past due under the Receivables Agreement were $47.5 million . Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions): 2016 2015 Collections reinvested in receivables $440.2 $505.9 Credit losses, net of recoveries 0.4 1.0 |
IPL [Member] | |
Receivables [Line Items] | |
Receivables | RECEIVABLES 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. In March 2016, IPL extended through March 2018 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. As of March 31, 2016 , IPL sold $220.5 million of receivables to the third party, received $62.0 million in cash proceeds and recorded deferred proceeds of $154.2 million . IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions): 2016 2015 Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) $75.0 $118.0 Average outstanding aggregate cash proceeds (based on daily outstanding balances) 39.1 68.0 For the three months ended March 31 , 2016 and 2015 , IPL’s costs incurred related to the sales of accounts receivable program were not material. The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): March 31, 2016 December 31, 2015 Customer accounts receivable $142.7 $109.7 Unbilled utility revenues 77.5 71.3 Other receivables 0.3 0.1 Receivables sold to third party 220.5 181.1 Less: cash proceeds (a) 62.0 5.0 Deferred proceeds 158.5 176.1 Less: allowance for doubtful accounts 4.3 4.1 Fair value of deferred proceeds $154.2 $172.0 (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. As of March 31, 2016 , outstanding receivables past due under the Receivables Agreement were $47.5 million . Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions): 2016 2015 Collections reinvested in receivables $440.2 $505.9 Credit losses, net of recoveries 0.4 1.0 |
Investments
Investments | 3 Months Ended |
Mar. 31, 2016 | |
Schedule of Investments [Line Items] | |
Investments | INVESTMENTS NOTE 5(a) Unconsolidated Equity Investments - Equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three months ended March 31 was as follows (in millions): Alliant Energy WPL 2016 2015 2016 2015 ATC ($10.7 ) ($7.8 ) ($10.7 ) ($7.8 ) Other 0.2 1.3 — — ($10.5 ) ($6.5 ) ($10.7 ) ($7.8 ) NOTE 5(b) Cash Surrender Value of Life Insurance Policies - During the three months ended March 31 , 2016, certain of Alliant Energy’s and IPL’s company-owned life insurance policies were liquidated. The related proceeds of $26 million and $18 million were recorded in investing activities in Alliant Energy’s and IPL’s cash flows statements, respectively. |
IPL [Member] | |
Schedule of Investments [Line Items] | |
Investments | INVESTMENTS NOTE 5(a) Unconsolidated Equity Investments - Equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three months ended March 31 was as follows (in millions): Alliant Energy WPL 2016 2015 2016 2015 ATC ($10.7 ) ($7.8 ) ($10.7 ) ($7.8 ) Other 0.2 1.3 — — ($10.5 ) ($6.5 ) ($10.7 ) ($7.8 ) NOTE 5(b) Cash Surrender Value of Life Insurance Policies - During the three months ended March 31 , 2016, certain of Alliant Energy’s and IPL’s company-owned life insurance policies were liquidated. The related proceeds of $26 million and $18 million were recorded in investing activities in Alliant Energy’s and IPL’s cash flows statements, respectively. |
WPL [Member] | |
Schedule of Investments [Line Items] | |
Investments | INVESTMENTS NOTE 5(a) Unconsolidated Equity Investments - Equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three months ended March 31 was as follows (in millions): Alliant Energy WPL 2016 2015 2016 2015 ATC ($10.7 ) ($7.8 ) ($10.7 ) ($7.8 ) Other 0.2 1.3 — — ($10.5 ) ($6.5 ) ($10.7 ) ($7.8 ) NOTE 5(b) Cash Surrender Value of Life Insurance Policies - During the three months ended March 31 , 2016, certain of Alliant Energy’s and IPL’s company-owned life insurance policies were liquidated. The related proceeds of $26 million and $18 million were recorded in investing activities in Alliant Energy’s and IPL’s cash flows statements, respectively. |
Common Equity
Common Equity | 3 Months Ended |
Mar. 31, 2016 | |
Common Equity [Line Items] | |
Common Equity | COMMON EQUITY Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows: Shares outstanding, January 1, 2016 113,459,216 Shareowner Direct Plan issuances 92,231 Equity-based compensation plans ( Note 9(b) ) 11,204 Shares outstanding, March 31, 2016 113,562,651 Common Stock Split - On April 20, 2016, Alliant Energy’s Board of Directors approved a two -for-one common stock split and a proportionate increase in the number of shares of common stock of Alliant Energy from 240 million shares to 480 million shares to implement the stock split. Alliant Energy shareowners of record at the close of business on May 4, 2016 will receive one additional share of Alliant Energy common stock for each share held on that date. The proportionate interest that a shareowner owns in Alliant Energy will not change as a result of the stock split. The additional shares are expected to be distributed on May 19, 2016 and post-split trading is expected to begin on May 20, 2016. Based on common shares outstanding as of March 31, 2016, upon the completion of the stock split, Alliant Energy will have approximately 227 million shares of common stock outstanding. Except as disclosed in the pro forma EPS information below, all share and per share amounts for the three months ended March 31 , 2016 and 2015 in this report have been reflected on a pre-split basis. The stock split will require all historical common stock shares and EPS data to be recast in the second quarter of 2016. For the three months ended March 31 , pro forma basic and diluted EPS attributable to Alliant Energy common shareowners to reflect the two-for-one common stock split is as follows: 2016 2015 Basic and diluted EPS: As reported $0.85 $0.87 Pro forma 0.43 0.43 Dividend Restrictions - As of March 31, 2016 , IPL’s amount of retained earnings that were free of dividend restrictions was $562 million . As of March 31, 2016 , WPL’s amount of retained earnings that were free of dividend restrictions was $101 million for the remainder of 2016 . Restricted Net Assets of Subsidiaries - As of March 31, 2016 , 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 $1.5 billion and $1.7 billion , respectively. Capital Transactions with Subsidiaries - For the three months ended March 31 , 2016 , IPL received capital contributions of $40.0 million from its parent company. For the three months ended March 31 , 2016 , IPL and WPL paid common stock dividends of $38.1 million and $33.8 million , respectively, to their parent company. Comprehensive Income - For the three months ended March 31, 2016 and 2015 , Alliant Energy had no other comprehensive income; therefore, its comprehensive income was equal to its net income and its comprehensive income attributable to Alliant Energy common shareowners was equal to its net income attributable to Alliant Energy common shareowners for such periods. For the three months ended March 31, 2016 and 2015 , 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] | |
Common Equity [Line Items] | |
Common Equity | COMMON EQUITY Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows: Shares outstanding, January 1, 2016 113,459,216 Shareowner Direct Plan issuances 92,231 Equity-based compensation plans ( Note 9(b) ) 11,204 Shares outstanding, March 31, 2016 113,562,651 Common Stock Split - On April 20, 2016, Alliant Energy’s Board of Directors approved a two -for-one common stock split and a proportionate increase in the number of shares of common stock of Alliant Energy from 240 million shares to 480 million shares to implement the stock split. Alliant Energy shareowners of record at the close of business on May 4, 2016 will receive one additional share of Alliant Energy common stock for each share held on that date. The proportionate interest that a shareowner owns in Alliant Energy will not change as a result of the stock split. The additional shares are expected to be distributed on May 19, 2016 and post-split trading is expected to begin on May 20, 2016. Based on common shares outstanding as of March 31, 2016, upon the completion of the stock split, Alliant Energy will have approximately 227 million shares of common stock outstanding. Except as disclosed in the pro forma EPS information below, all share and per share amounts for the three months ended March 31 , 2016 and 2015 in this report have been reflected on a pre-split basis. The stock split will require all historical common stock shares and EPS data to be recast in the second quarter of 2016. For the three months ended March 31 , pro forma basic and diluted EPS attributable to Alliant Energy common shareowners to reflect the two-for-one common stock split is as follows: 2016 2015 Basic and diluted EPS: As reported $0.85 $0.87 Pro forma 0.43 0.43 Dividend Restrictions - As of March 31, 2016 , IPL’s amount of retained earnings that were free of dividend restrictions was $562 million . As of March 31, 2016 , WPL’s amount of retained earnings that were free of dividend restrictions was $101 million for the remainder of 2016 . Restricted Net Assets of Subsidiaries - As of March 31, 2016 , 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 $1.5 billion and $1.7 billion , respectively. Capital Transactions with Subsidiaries - For the three months ended March 31 , 2016 , IPL received capital contributions of $40.0 million from its parent company. For the three months ended March 31 , 2016 , IPL and WPL paid common stock dividends of $38.1 million and $33.8 million , respectively, to their parent company. Comprehensive Income - For the three months ended March 31, 2016 and 2015 , Alliant Energy had no other comprehensive income; therefore, its comprehensive income was equal to its net income and its comprehensive income attributable to Alliant Energy common shareowners was equal to its net income attributable to Alliant Energy common shareowners for such periods. For the three months ended March 31, 2016 and 2015 , 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] | |
Common Equity [Line Items] | |
Common Equity | COMMON EQUITY Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows: Shares outstanding, January 1, 2016 113,459,216 Shareowner Direct Plan issuances 92,231 Equity-based compensation plans ( Note 9(b) ) 11,204 Shares outstanding, March 31, 2016 113,562,651 Common Stock Split - On April 20, 2016, Alliant Energy’s Board of Directors approved a two -for-one common stock split and a proportionate increase in the number of shares of common stock of Alliant Energy from 240 million shares to 480 million shares to implement the stock split. Alliant Energy shareowners of record at the close of business on May 4, 2016 will receive one additional share of Alliant Energy common stock for each share held on that date. The proportionate interest that a shareowner owns in Alliant Energy will not change as a result of the stock split. The additional shares are expected to be distributed on May 19, 2016 and post-split trading is expected to begin on May 20, 2016. Based on common shares outstanding as of March 31, 2016, upon the completion of the stock split, Alliant Energy will have approximately 227 million shares of common stock outstanding. Except as disclosed in the pro forma EPS information below, all share and per share amounts for the three months ended March 31 , 2016 and 2015 in this report have been reflected on a pre-split basis. The stock split will require all historical common stock shares and EPS data to be recast in the second quarter of 2016. For the three months ended March 31 , pro forma basic and diluted EPS attributable to Alliant Energy common shareowners to reflect the two-for-one common stock split is as follows: 2016 2015 Basic and diluted EPS: As reported $0.85 $0.87 Pro forma 0.43 0.43 Dividend Restrictions - As of March 31, 2016 , IPL’s amount of retained earnings that were free of dividend restrictions was $562 million . As of March 31, 2016 , WPL’s amount of retained earnings that were free of dividend restrictions was $101 million for the remainder of 2016 . Restricted Net Assets of Subsidiaries - As of March 31, 2016 , 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 $1.5 billion and $1.7 billion , respectively. Capital Transactions with Subsidiaries - For the three months ended March 31 , 2016 , IPL received capital contributions of $40.0 million from its parent company. For the three months ended March 31 , 2016 , IPL and WPL paid common stock dividends of $38.1 million and $33.8 million , respectively, to their parent company. Comprehensive Income - For the three months ended March 31, 2016 and 2015 , Alliant Energy had no other comprehensive income; therefore, its comprehensive income was equal to its net income and its comprehensive income attributable to Alliant Energy common shareowners was equal to its net income attributable to Alliant Energy common shareowners for such periods. For the three months ended March 31, 2016 and 2015 , 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. |
Debt
Debt | 3 Months Ended |
Mar. 31, 2016 | |
Debt [Line Items] | |
Debt | DEBT Short-term Debt - Information regarding commercial paper classified as short-term debt and back-stopped by the credit facilities was as follows (dollars in millions): Alliant Energy Parent March 31, 2016 (Consolidated) Company IPL WPL Commercial paper: Amount outstanding $213.4 $187.9 $— $25.5 Weighted average remaining maturity 2 days 2 days N/A 1 day Weighted average interest rates 0.6% 0.6% N/A 0.4% Available credit facility capacity $786.6 $112.1 $300.0 $374.5 Alliant Energy IPL WPL Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Maximum amount outstanding (based on daily outstanding balances) $242.6 $151.3 $— $1.4 $55.7 $— Average amount outstanding (based on daily outstanding balances) $199.0 $127.9 $— $— $25.8 $— Weighted average interest rates 0.6 % 0.4 % N/A 0.4 % 0.4% N/A |
IPL [Member] | |
Debt [Line Items] | |
Debt | DEBT Short-term Debt - Information regarding commercial paper classified as short-term debt and back-stopped by the credit facilities was as follows (dollars in millions): Alliant Energy Parent March 31, 2016 (Consolidated) Company IPL WPL Commercial paper: Amount outstanding $213.4 $187.9 $— $25.5 Weighted average remaining maturity 2 days 2 days N/A 1 day Weighted average interest rates 0.6% 0.6% N/A 0.4% Available credit facility capacity $786.6 $112.1 $300.0 $374.5 Alliant Energy IPL WPL Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Maximum amount outstanding (based on daily outstanding balances) $242.6 $151.3 $— $1.4 $55.7 $— Average amount outstanding (based on daily outstanding balances) $199.0 $127.9 $— $— $25.8 $— Weighted average interest rates 0.6 % 0.4 % N/A 0.4 % 0.4% N/A |
WPL [Member] | |
Debt [Line Items] | |
Debt | DEBT Short-term Debt - Information regarding commercial paper classified as short-term debt and back-stopped by the credit facilities was as follows (dollars in millions): Alliant Energy Parent March 31, 2016 (Consolidated) Company IPL WPL Commercial paper: Amount outstanding $213.4 $187.9 $— $25.5 Weighted average remaining maturity 2 days 2 days N/A 1 day Weighted average interest rates 0.6% 0.6% N/A 0.4% Available credit facility capacity $786.6 $112.1 $300.0 $374.5 Alliant Energy IPL WPL Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Maximum amount outstanding (based on daily outstanding balances) $242.6 $151.3 $— $1.4 $55.7 $— Average amount outstanding (based on daily outstanding balances) $199.0 $127.9 $— $— $25.8 $— Weighted average interest rates 0.6 % 0.4 % N/A 0.4 % 0.4% N/A |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2016 | |
Income Taxes [Line Items] | |
Income Taxes | INCOME TAXES Income Tax Rates - The provision for income taxes for earnings from continuing operations is based on an estimated annual effective income tax rate that excludes the impact of significant unusual or infrequently occurring items, discontinued operations or extraordinary items. 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 Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % IPL’s tax benefit riders (8.7 ) (9.9 ) (20.7 ) (25.2 ) — — Effect of rate-making on property-related differences (6.8 ) (6.1 ) (15.2 ) (14.6 ) (0.8 ) (0.6 ) Production tax credits (6.3 ) (6.2 ) (6.7 ) (7.1 ) (6.5 ) (6.2 ) Other items, net 4.5 4.3 5.9 4.8 4.8 4.4 Overall income tax rate 17.7 % 17.1 % (1.7 %) (7.1 %) 32.5 % 32.6 % 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 IPL’s tax benefit riders. Refer to Note 2 for additional details of the tax benefit riders. Deferred Tax Assets and Liabilities - For the three months ended March 31 , 2016 , Alliant Energy’s, IPL’s and WPL’s non-current deferred tax liabilities increased $43.4 million , $30.9 million and $19.7 million , respectively. These increases in non-current deferred tax liabilities were primarily due to property-related differences recorded during the three months ended March 31 , 2016 . Carryforwards - At March 31, 2016 , tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (dollars in millions): Alliant Energy IPL WPL Earliest Expiration Date Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Federal net operating losses 2030 $733 $252 $330 $111 $298 $104 State net operating losses 2018 748 39 20 1 47 2 Federal tax credits 2022 250 246 89 86 101 101 $537 $198 $207 |
IPL [Member] | |
Income Taxes [Line Items] | |
Income Taxes | INCOME TAXES Income Tax Rates - The provision for income taxes for earnings from continuing operations is based on an estimated annual effective income tax rate that excludes the impact of significant unusual or infrequently occurring items, discontinued operations or extraordinary items. 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 Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % IPL’s tax benefit riders (8.7 ) (9.9 ) (20.7 ) (25.2 ) — — Effect of rate-making on property-related differences (6.8 ) (6.1 ) (15.2 ) (14.6 ) (0.8 ) (0.6 ) Production tax credits (6.3 ) (6.2 ) (6.7 ) (7.1 ) (6.5 ) (6.2 ) Other items, net 4.5 4.3 5.9 4.8 4.8 4.4 Overall income tax rate 17.7 % 17.1 % (1.7 %) (7.1 %) 32.5 % 32.6 % 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 IPL’s tax benefit riders. Refer to Note 2 for additional details of the tax benefit riders. Deferred Tax Assets and Liabilities - For the three months ended March 31 , 2016 , Alliant Energy’s, IPL’s and WPL’s non-current deferred tax liabilities increased $43.4 million , $30.9 million and $19.7 million , respectively. These increases in non-current deferred tax liabilities were primarily due to property-related differences recorded during the three months ended March 31 , 2016 . Carryforwards - At March 31, 2016 , tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (dollars in millions): Alliant Energy IPL WPL Earliest Expiration Date Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Federal net operating losses 2030 $733 $252 $330 $111 $298 $104 State net operating losses 2018 748 39 20 1 47 2 Federal tax credits 2022 250 246 89 86 101 101 $537 $198 $207 |
WPL [Member] | |
Income Taxes [Line Items] | |
Income Taxes | INCOME TAXES Income Tax Rates - The provision for income taxes for earnings from continuing operations is based on an estimated annual effective income tax rate that excludes the impact of significant unusual or infrequently occurring items, discontinued operations or extraordinary items. 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 Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % IPL’s tax benefit riders (8.7 ) (9.9 ) (20.7 ) (25.2 ) — — Effect of rate-making on property-related differences (6.8 ) (6.1 ) (15.2 ) (14.6 ) (0.8 ) (0.6 ) Production tax credits (6.3 ) (6.2 ) (6.7 ) (7.1 ) (6.5 ) (6.2 ) Other items, net 4.5 4.3 5.9 4.8 4.8 4.4 Overall income tax rate 17.7 % 17.1 % (1.7 %) (7.1 %) 32.5 % 32.6 % 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 IPL’s tax benefit riders. Refer to Note 2 for additional details of the tax benefit riders. Deferred Tax Assets and Liabilities - For the three months ended March 31 , 2016 , Alliant Energy’s, IPL’s and WPL’s non-current deferred tax liabilities increased $43.4 million , $30.9 million and $19.7 million , respectively. These increases in non-current deferred tax liabilities were primarily due to property-related differences recorded during the three months ended March 31 , 2016 . Carryforwards - At March 31, 2016 , tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (dollars in millions): Alliant Energy IPL WPL Earliest Expiration Date Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Federal net operating losses 2030 $733 $252 $330 $111 $298 $104 State net operating losses 2018 748 39 20 1 47 2 Federal tax credits 2022 250 246 89 86 101 101 $537 $198 $207 |
Benefit Plans
Benefit Plans | 3 Months Ended |
Mar. 31, 2016 | |
Benefit Plans | BENEFIT PLANS NOTE 9(a) Pension and Other Postretirement Benefits Plans - Net Periodic Benefit Costs (Credits) - The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included in the tables below (in millions). In IPL’s and WPL’s tables below, the defined benefit pension plans costs represent those respective costs for their bargaining unit employees covered under the qualified plans that they sponsor, as well as amounts directly assigned to them 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 IPL’s and WPL’s tables below, the OPEB plans costs (credits) represent respective costs (credits) for their employees, as well as amounts directly assigned to them related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2016 2015 2016 2015 Service cost $3.2 $4.0 $1.3 $1.4 Interest cost 13.3 13.4 2.3 2.2 Expected return on plan assets (16.4 ) (18.7 ) (1.5 ) (2.1 ) Amortization of prior service credit (0.1 ) (0.1 ) (1.0 ) (2.8 ) Amortization of actuarial loss 9.3 8.8 1.2 1.2 Additional benefit costs — 0.2 — — $9.3 $7.6 $2.3 ($0.1 ) Defined Benefit Pension Plans OPEB Plans IPL 2016 2015 2016 2015 Service cost $1.9 $2.2 $0.6 $0.6 Interest cost 6.1 6.2 1.0 0.9 Expected return on plan assets (7.7 ) (8.9 ) (1.0 ) (1.4 ) Amortization of prior service credit — — (0.7 ) (1.5 ) Amortization of actuarial loss 4.1 3.8 0.6 0.6 $4.4 $3.3 $0.5 ($0.8 ) Defined Benefit Pension Plans OPEB Plans WPL 2016 2015 2016 2015 Service cost $1.2 $1.4 $0.5 $0.6 Interest cost 5.6 5.6 0.9 0.9 Expected return on plan assets (7.1 ) (8.1 ) (0.2 ) (0.4 ) Amortization of prior service cost (credit) 0.1 0.1 (0.2 ) (0.9 ) Amortization of actuarial loss 4.4 4.2 0.5 0.6 Additional benefit costs — 0.2 — — $4.2 $3.4 $1.5 $0.8 401(k) Savings Plans - A significant number of employees participate in defined contribution retirement plans (401(k) savings plans). For the three months ended March 31 , costs related to the 401(k) savings plans, which are partially based on the participants’ contributions and include allocated costs associated with Corporate Services employees for IPL and WPL, were as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 401(k) costs $6.2 $6.7 $3.1 $3.4 $2.8 $2.9 NOTE 9(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Compensation expense $5.3 $3.2 $2.8 $1.7 $2.3 $1.4 Income tax benefits 2.2 1.3 1.1 0.7 0.9 0.6 As of March 31, 2016 , total unrecognized compensation cost related to share-based compensation awards was $12.9 million , which is expected to be recognized over a weighted average period of between one and two years. Share-based compensation expense is recognized on a straight-line basis over the requisite service periods and is primarily recorded in “Other operation and maintenance” in the income statements. Performance Shares and Performance Units - A summary of the performance shares and performance units activity, with amounts representing the target number of awards, was as follows: Performance Shares Performance Units 2016 2015 2016 2015 Nonvested awards, January 1 144,215 144,424 58,206 63,665 Granted 33,776 45,403 11,959 17,837 Vested (49,093 ) (45,612 ) (21,380 ) (22,845 ) Forfeited (615 ) — (382 ) (93 ) Nonvested awards, March 31 128,283 144,215 48,403 58,564 Granted Awards - For the performance units granted in 2016, each performance unit’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. For the performance units granted prior to 2016, each performance unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. Vested Awards - During the three months ended March 31 , certain performance shares and performance units vested, resulting in payouts (a combination of cash and common stock for the performance shares and cash only for the performance units) as follows: Performance Shares Performance Units 2016 2015 2016 2015 2013 Grant 2012 Grant 2013 Grant 2012 Grant Performance awards vested 49,093 45,612 21,380 22,845 Percentage of target number of performance awards 165.0 % 167.5 % 165.0 % 167.5 % Aggregate payout value (in millions) $5.1 $5.1 $1.7 $1.6 Payout - cash (in millions) $2.9 $3.2 $1.7 $1.6 Payout - common stock shares issued 11,204 10,975 N/A N/A Fair Value of Awards - Information related to fair values of nonvested performance shares and performance units at March 31, 2016 , by year of grant, was as follows: Performance Shares Performance Units 2016 Grant 2015 Grant 2014 Grant 2016 Grant 2015 Grant 2014 Grant Nonvested awards 33,161 45,403 49,719 11,959 17,209 19,235 Alliant Energy common stock closing price on March 31, 2016 $74.28 $74.28 $74.28 $74.28 N/A N/A Alliant Energy common stock closing price on grant date N/A N/A N/A N/A $65.09 $53.77 Estimated payout percentage based on performance criteria 108 % 90 % 138 % 108 % 90 % 138 % Fair values of each nonvested award $80.22 $66.85 $102.51 $80.22 $58.58 $74.20 At March 31, 2016 , fair values of nonvested performance shares and performance units were calculated based on Alliant Energy’s stock price and anticipated total shareowner returns of Alliant Energy and its investor-owned utility peer group over the performance period. The portion of the fair values based on anticipated total shareowner returns was estimated using a model that incorporates the probability of meeting performance targets based on historical returns relative to the peer group. Performance Contingent Restricted Stock - A summary of the performance contingent restricted stock activity was as follows: 2016 2015 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Nonvested shares, January 1 95,122 $59.17 98,812 $50.69 Granted — — 45,403 65.09 Vested (a) — — (49,093 ) 47.58 Nonvested shares, March 31 95,122 59.17 95,122 59.17 (a) In 2015, 49,093 performance contingent restricted shares granted in 2013 vested because the specified performance criteria for such shares were met. Performance Restricted Stock Units and Performance Restricted Units - Alliant Energy granted new types of share-based compensation awards to key employees in the first quarter of 2016 referred to as performance restricted stock units, performance restricted units and key employee performance restricted units. Payouts of these units are based on the achievement of certain performance targets (currently specified growth of consolidated income from continuing operations) during the three -year performance period. The actual number of units that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of units. If performance targets are not met during the performance period, these units are forfeited. Subject to achievement of the performance criteria, payouts of nonvested units are prorated in the event of retirement, death or disability during the first year of the performance period based on time worked during the first year of the period, and are prorated upon involuntary termination without cause based on time worked during the entire period. Subject to achievement of the performance criteria, payouts of 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 units are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause during the performance period. Performance Restricted Stock Units - Performance restricted stock units must be paid out in shares and are accounted for as equity awards. Each performance restricted stock unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. A summary of the performance restricted stock units activity, with amounts representing the target number of units, was as follows: 2016 Units Weighted Average Grant Date Fair Value Granted 33,776 $67.85 Forfeited (615 ) 67.80 Nonvested units, March 31 33,161 67.85 Performance Restricted Units - Performance restricted units must be paid out in cash and are accounted for as liability awards. Each performance restricted unit’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. A summary of the performance restricted units activity, with amounts representing the target number of units, was as follows: 2016 Granted 11,959 Nonvested units, March 31 11,959 Key Employee Performance Restricted Units - Key employee performance restricted units must be paid out in cash and are accounted for as liability awards. Each key employee performance restricted unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. A summary of the key employee performance restricted units activity, with amounts representing the target number of units, was as follows: 2016 Units Weighted Average Grant Date Fair Value Granted 22,528 $67.80 Nonvested units, March 31 22,528 67.80 Restricted Stock Units and Restricted Units - Alliant Energy granted new types of share-based compensation awards to key employees in the first quarter of 2016 referred to as restricted stock units and restricted units. Payouts of these units are based on the expiration of a three -year time-vesting period. Payouts of nonvested units are prorated in the event of retirement, death or disability during the first year of the time-vesting period based on time worked during the first year of the period, and are prorated upon involuntary termination without cause based on time worked during the entire period. Upon expiration of the time-vesting period, payouts of units to participants who terminate employment after the first year of the period due to retirement, death or disability are not prorated. Participants’ nonvested units are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause during the time-vesting period. Each restricted stock unit’s and restricted unit’s value is based on the closing market price of one share of Alliant Energy’s common stock at the end of the time-vesting period. Restricted stock units can be paid out in shares of Alliant Energy common stock, cash or a combination of cash and stock. Restricted units must be paid out in cash. Alliant Energy assumes it will make future payouts of its restricted stock units and restricted units in cash; therefore, restricted stock units and restricted units are accounted for as liability awards. A summary of the restricted stock units and restricted units activity was as follows: 2016 Restricted Stock Units Restricted Units Granted 28,952 10,251 Forfeited (527 ) — Nonvested units, March 31 28,425 10,251 Performance-Contingent Cash Awards - A summary of the performance-contingent cash awards activity was as follows: 2016 2015 Nonvested awards, January 1 81,876 78,930 Granted — 41,105 Vested (a) — (37,332 ) Forfeited (382 ) (469 ) Nonvested awards, March 31 81,494 82,234 (a) In 2015, 37,332 performance-contingent cash awards granted in 2013 vested, resulting in cash payouts valued at $2.4 million . |
IPL [Member] | |
Benefit Plans | BENEFIT PLANS NOTE 9(a) Pension and Other Postretirement Benefits Plans - Net Periodic Benefit Costs (Credits) - The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included in the tables below (in millions). In IPL’s and WPL’s tables below, the defined benefit pension plans costs represent those respective costs for their bargaining unit employees covered under the qualified plans that they sponsor, as well as amounts directly assigned to them 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 IPL’s and WPL’s tables below, the OPEB plans costs (credits) represent respective costs (credits) for their employees, as well as amounts directly assigned to them related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2016 2015 2016 2015 Service cost $3.2 $4.0 $1.3 $1.4 Interest cost 13.3 13.4 2.3 2.2 Expected return on plan assets (16.4 ) (18.7 ) (1.5 ) (2.1 ) Amortization of prior service credit (0.1 ) (0.1 ) (1.0 ) (2.8 ) Amortization of actuarial loss 9.3 8.8 1.2 1.2 Additional benefit costs — 0.2 — — $9.3 $7.6 $2.3 ($0.1 ) Defined Benefit Pension Plans OPEB Plans IPL 2016 2015 2016 2015 Service cost $1.9 $2.2 $0.6 $0.6 Interest cost 6.1 6.2 1.0 0.9 Expected return on plan assets (7.7 ) (8.9 ) (1.0 ) (1.4 ) Amortization of prior service credit — — (0.7 ) (1.5 ) Amortization of actuarial loss 4.1 3.8 0.6 0.6 $4.4 $3.3 $0.5 ($0.8 ) Defined Benefit Pension Plans OPEB Plans WPL 2016 2015 2016 2015 Service cost $1.2 $1.4 $0.5 $0.6 Interest cost 5.6 5.6 0.9 0.9 Expected return on plan assets (7.1 ) (8.1 ) (0.2 ) (0.4 ) Amortization of prior service cost (credit) 0.1 0.1 (0.2 ) (0.9 ) Amortization of actuarial loss 4.4 4.2 0.5 0.6 Additional benefit costs — 0.2 — — $4.2 $3.4 $1.5 $0.8 401(k) Savings Plans - A significant number of employees participate in defined contribution retirement plans (401(k) savings plans). For the three months ended March 31 , costs related to the 401(k) savings plans, which are partially based on the participants’ contributions and include allocated costs associated with Corporate Services employees for IPL and WPL, were as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 401(k) costs $6.2 $6.7 $3.1 $3.4 $2.8 $2.9 NOTE 9(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Compensation expense $5.3 $3.2 $2.8 $1.7 $2.3 $1.4 Income tax benefits 2.2 1.3 1.1 0.7 0.9 0.6 As of March 31, 2016 , total unrecognized compensation cost related to share-based compensation awards was $12.9 million , which is expected to be recognized over a weighted average period of between one and two years. Share-based compensation expense is recognized on a straight-line basis over the requisite service periods and is primarily recorded in “Other operation and maintenance” in the income statements. Performance Shares and Performance Units - A summary of the performance shares and performance units activity, with amounts representing the target number of awards, was as follows: Performance Shares Performance Units 2016 2015 2016 2015 Nonvested awards, January 1 144,215 144,424 58,206 63,665 Granted 33,776 45,403 11,959 17,837 Vested (49,093 ) (45,612 ) (21,380 ) (22,845 ) Forfeited (615 ) — (382 ) (93 ) Nonvested awards, March 31 128,283 144,215 48,403 58,564 Granted Awards - For the performance units granted in 2016, each performance unit’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. For the performance units granted prior to 2016, each performance unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. Vested Awards - During the three months ended March 31 , certain performance shares and performance units vested, resulting in payouts (a combination of cash and common stock for the performance shares and cash only for the performance units) as follows: Performance Shares Performance Units 2016 2015 2016 2015 2013 Grant 2012 Grant 2013 Grant 2012 Grant Performance awards vested 49,093 45,612 21,380 22,845 Percentage of target number of performance awards 165.0 % 167.5 % 165.0 % 167.5 % Aggregate payout value (in millions) $5.1 $5.1 $1.7 $1.6 Payout - cash (in millions) $2.9 $3.2 $1.7 $1.6 Payout - common stock shares issued 11,204 10,975 N/A N/A Fair Value of Awards - Information related to fair values of nonvested performance shares and performance units at March 31, 2016 , by year of grant, was as follows: Performance Shares Performance Units 2016 Grant 2015 Grant 2014 Grant 2016 Grant 2015 Grant 2014 Grant Nonvested awards 33,161 45,403 49,719 11,959 17,209 19,235 Alliant Energy common stock closing price on March 31, 2016 $74.28 $74.28 $74.28 $74.28 N/A N/A Alliant Energy common stock closing price on grant date N/A N/A N/A N/A $65.09 $53.77 Estimated payout percentage based on performance criteria 108 % 90 % 138 % 108 % 90 % 138 % Fair values of each nonvested award $80.22 $66.85 $102.51 $80.22 $58.58 $74.20 At March 31, 2016 , fair values of nonvested performance shares and performance units were calculated based on Alliant Energy’s stock price and anticipated total shareowner returns of Alliant Energy and its investor-owned utility peer group over the performance period. The portion of the fair values based on anticipated total shareowner returns was estimated using a model that incorporates the probability of meeting performance targets based on historical returns relative to the peer group. Performance Contingent Restricted Stock - A summary of the performance contingent restricted stock activity was as follows: 2016 2015 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Nonvested shares, January 1 95,122 $59.17 98,812 $50.69 Granted — — 45,403 65.09 Vested (a) — — (49,093 ) 47.58 Nonvested shares, March 31 95,122 59.17 95,122 59.17 (a) In 2015, 49,093 performance contingent restricted shares granted in 2013 vested because the specified performance criteria for such shares were met. Performance Restricted Stock Units and Performance Restricted Units - Alliant Energy granted new types of share-based compensation awards to key employees in the first quarter of 2016 referred to as performance restricted stock units, performance restricted units and key employee performance restricted units. Payouts of these units are based on the achievement of certain performance targets (currently specified growth of consolidated income from continuing operations) during the three -year performance period. The actual number of units that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of units. If performance targets are not met during the performance period, these units are forfeited. Subject to achievement of the performance criteria, payouts of nonvested units are prorated in the event of retirement, death or disability during the first year of the performance period based on time worked during the first year of the period, and are prorated upon involuntary termination without cause based on time worked during the entire period. Subject to achievement of the performance criteria, payouts of 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 units are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause during the performance period. Performance Restricted Stock Units - Performance restricted stock units must be paid out in shares and are accounted for as equity awards. Each performance restricted stock unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. A summary of the performance restricted stock units activity, with amounts representing the target number of units, was as follows: 2016 Units Weighted Average Grant Date Fair Value Granted 33,776 $67.85 Forfeited (615 ) 67.80 Nonvested units, March 31 33,161 67.85 Performance Restricted Units - Performance restricted units must be paid out in cash and are accounted for as liability awards. Each performance restricted unit’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. A summary of the performance restricted units activity, with amounts representing the target number of units, was as follows: 2016 Granted 11,959 Nonvested units, March 31 11,959 Key Employee Performance Restricted Units - Key employee performance restricted units must be paid out in cash and are accounted for as liability awards. Each key employee performance restricted unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. A summary of the key employee performance restricted units activity, with amounts representing the target number of units, was as follows: 2016 Units Weighted Average Grant Date Fair Value Granted 22,528 $67.80 Nonvested units, March 31 22,528 67.80 Restricted Stock Units and Restricted Units - Alliant Energy granted new types of share-based compensation awards to key employees in the first quarter of 2016 referred to as restricted stock units and restricted units. Payouts of these units are based on the expiration of a three -year time-vesting period. Payouts of nonvested units are prorated in the event of retirement, death or disability during the first year of the time-vesting period based on time worked during the first year of the period, and are prorated upon involuntary termination without cause based on time worked during the entire period. Upon expiration of the time-vesting period, payouts of units to participants who terminate employment after the first year of the period due to retirement, death or disability are not prorated. Participants’ nonvested units are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause during the time-vesting period. Each restricted stock unit’s and restricted unit’s value is based on the closing market price of one share of Alliant Energy’s common stock at the end of the time-vesting period. Restricted stock units can be paid out in shares of Alliant Energy common stock, cash or a combination of cash and stock. Restricted units must be paid out in cash. Alliant Energy assumes it will make future payouts of its restricted stock units and restricted units in cash; therefore, restricted stock units and restricted units are accounted for as liability awards. A summary of the restricted stock units and restricted units activity was as follows: 2016 Restricted Stock Units Restricted Units Granted 28,952 10,251 Forfeited (527 ) — Nonvested units, March 31 28,425 10,251 Performance-Contingent Cash Awards - A summary of the performance-contingent cash awards activity was as follows: 2016 2015 Nonvested awards, January 1 81,876 78,930 Granted — 41,105 Vested (a) — (37,332 ) Forfeited (382 ) (469 ) Nonvested awards, March 31 81,494 82,234 (a) In 2015, 37,332 performance-contingent cash awards granted in 2013 vested, resulting in cash payouts valued at $2.4 million . |
WPL [Member] | |
Benefit Plans | BENEFIT PLANS NOTE 9(a) Pension and Other Postretirement Benefits Plans - Net Periodic Benefit Costs (Credits) - The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included in the tables below (in millions). In IPL’s and WPL’s tables below, the defined benefit pension plans costs represent those respective costs for their bargaining unit employees covered under the qualified plans that they sponsor, as well as amounts directly assigned to them 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 IPL’s and WPL’s tables below, the OPEB plans costs (credits) represent respective costs (credits) for their employees, as well as amounts directly assigned to them related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2016 2015 2016 2015 Service cost $3.2 $4.0 $1.3 $1.4 Interest cost 13.3 13.4 2.3 2.2 Expected return on plan assets (16.4 ) (18.7 ) (1.5 ) (2.1 ) Amortization of prior service credit (0.1 ) (0.1 ) (1.0 ) (2.8 ) Amortization of actuarial loss 9.3 8.8 1.2 1.2 Additional benefit costs — 0.2 — — $9.3 $7.6 $2.3 ($0.1 ) Defined Benefit Pension Plans OPEB Plans IPL 2016 2015 2016 2015 Service cost $1.9 $2.2 $0.6 $0.6 Interest cost 6.1 6.2 1.0 0.9 Expected return on plan assets (7.7 ) (8.9 ) (1.0 ) (1.4 ) Amortization of prior service credit — — (0.7 ) (1.5 ) Amortization of actuarial loss 4.1 3.8 0.6 0.6 $4.4 $3.3 $0.5 ($0.8 ) Defined Benefit Pension Plans OPEB Plans WPL 2016 2015 2016 2015 Service cost $1.2 $1.4 $0.5 $0.6 Interest cost 5.6 5.6 0.9 0.9 Expected return on plan assets (7.1 ) (8.1 ) (0.2 ) (0.4 ) Amortization of prior service cost (credit) 0.1 0.1 (0.2 ) (0.9 ) Amortization of actuarial loss 4.4 4.2 0.5 0.6 Additional benefit costs — 0.2 — — $4.2 $3.4 $1.5 $0.8 401(k) Savings Plans - A significant number of employees participate in defined contribution retirement plans (401(k) savings plans). For the three months ended March 31 , costs related to the 401(k) savings plans, which are partially based on the participants’ contributions and include allocated costs associated with Corporate Services employees for IPL and WPL, were as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 401(k) costs $6.2 $6.7 $3.1 $3.4 $2.8 $2.9 NOTE 9(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Compensation expense $5.3 $3.2 $2.8 $1.7 $2.3 $1.4 Income tax benefits 2.2 1.3 1.1 0.7 0.9 0.6 As of March 31, 2016 , total unrecognized compensation cost related to share-based compensation awards was $12.9 million , which is expected to be recognized over a weighted average period of between one and two years. Share-based compensation expense is recognized on a straight-line basis over the requisite service periods and is primarily recorded in “Other operation and maintenance” in the income statements. Performance Shares and Performance Units - A summary of the performance shares and performance units activity, with amounts representing the target number of awards, was as follows: Performance Shares Performance Units 2016 2015 2016 2015 Nonvested awards, January 1 144,215 144,424 58,206 63,665 Granted 33,776 45,403 11,959 17,837 Vested (49,093 ) (45,612 ) (21,380 ) (22,845 ) Forfeited (615 ) — (382 ) (93 ) Nonvested awards, March 31 128,283 144,215 48,403 58,564 Granted Awards - For the performance units granted in 2016, each performance unit’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. For the performance units granted prior to 2016, each performance unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. Vested Awards - During the three months ended March 31 , certain performance shares and performance units vested, resulting in payouts (a combination of cash and common stock for the performance shares and cash only for the performance units) as follows: Performance Shares Performance Units 2016 2015 2016 2015 2013 Grant 2012 Grant 2013 Grant 2012 Grant Performance awards vested 49,093 45,612 21,380 22,845 Percentage of target number of performance awards 165.0 % 167.5 % 165.0 % 167.5 % Aggregate payout value (in millions) $5.1 $5.1 $1.7 $1.6 Payout - cash (in millions) $2.9 $3.2 $1.7 $1.6 Payout - common stock shares issued 11,204 10,975 N/A N/A Fair Value of Awards - Information related to fair values of nonvested performance shares and performance units at March 31, 2016 , by year of grant, was as follows: Performance Shares Performance Units 2016 Grant 2015 Grant 2014 Grant 2016 Grant 2015 Grant 2014 Grant Nonvested awards 33,161 45,403 49,719 11,959 17,209 19,235 Alliant Energy common stock closing price on March 31, 2016 $74.28 $74.28 $74.28 $74.28 N/A N/A Alliant Energy common stock closing price on grant date N/A N/A N/A N/A $65.09 $53.77 Estimated payout percentage based on performance criteria 108 % 90 % 138 % 108 % 90 % 138 % Fair values of each nonvested award $80.22 $66.85 $102.51 $80.22 $58.58 $74.20 At March 31, 2016 , fair values of nonvested performance shares and performance units were calculated based on Alliant Energy’s stock price and anticipated total shareowner returns of Alliant Energy and its investor-owned utility peer group over the performance period. The portion of the fair values based on anticipated total shareowner returns was estimated using a model that incorporates the probability of meeting performance targets based on historical returns relative to the peer group. Performance Contingent Restricted Stock - A summary of the performance contingent restricted stock activity was as follows: 2016 2015 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Nonvested shares, January 1 95,122 $59.17 98,812 $50.69 Granted — — 45,403 65.09 Vested (a) — — (49,093 ) 47.58 Nonvested shares, March 31 95,122 59.17 95,122 59.17 (a) In 2015, 49,093 performance contingent restricted shares granted in 2013 vested because the specified performance criteria for such shares were met. Performance Restricted Stock Units and Performance Restricted Units - Alliant Energy granted new types of share-based compensation awards to key employees in the first quarter of 2016 referred to as performance restricted stock units, performance restricted units and key employee performance restricted units. Payouts of these units are based on the achievement of certain performance targets (currently specified growth of consolidated income from continuing operations) during the three -year performance period. The actual number of units that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of units. If performance targets are not met during the performance period, these units are forfeited. Subject to achievement of the performance criteria, payouts of nonvested units are prorated in the event of retirement, death or disability during the first year of the performance period based on time worked during the first year of the period, and are prorated upon involuntary termination without cause based on time worked during the entire period. Subject to achievement of the performance criteria, payouts of 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 units are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause during the performance period. Performance Restricted Stock Units - Performance restricted stock units must be paid out in shares and are accounted for as equity awards. Each performance restricted stock unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. A summary of the performance restricted stock units activity, with amounts representing the target number of units, was as follows: 2016 Units Weighted Average Grant Date Fair Value Granted 33,776 $67.85 Forfeited (615 ) 67.80 Nonvested units, March 31 33,161 67.85 Performance Restricted Units - Performance restricted units must be paid out in cash and are accounted for as liability awards. Each performance restricted unit’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. A summary of the performance restricted units activity, with amounts representing the target number of units, was as follows: 2016 Granted 11,959 Nonvested units, March 31 11,959 Key Employee Performance Restricted Units - Key employee performance restricted units must be paid out in cash and are accounted for as liability awards. Each key employee performance restricted unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. A summary of the key employee performance restricted units activity, with amounts representing the target number of units, was as follows: 2016 Units Weighted Average Grant Date Fair Value Granted 22,528 $67.80 Nonvested units, March 31 22,528 67.80 Restricted Stock Units and Restricted Units - Alliant Energy granted new types of share-based compensation awards to key employees in the first quarter of 2016 referred to as restricted stock units and restricted units. Payouts of these units are based on the expiration of a three -year time-vesting period. Payouts of nonvested units are prorated in the event of retirement, death or disability during the first year of the time-vesting period based on time worked during the first year of the period, and are prorated upon involuntary termination without cause based on time worked during the entire period. Upon expiration of the time-vesting period, payouts of units to participants who terminate employment after the first year of the period due to retirement, death or disability are not prorated. Participants’ nonvested units are forfeited if the participant voluntarily leaves Alliant Energy or is terminated for cause during the time-vesting period. Each restricted stock unit’s and restricted unit’s value is based on the closing market price of one share of Alliant Energy’s common stock at the end of the time-vesting period. Restricted stock units can be paid out in shares of Alliant Energy common stock, cash or a combination of cash and stock. Restricted units must be paid out in cash. Alliant Energy assumes it will make future payouts of its restricted stock units and restricted units in cash; therefore, restricted stock units and restricted units are accounted for as liability awards. A summary of the restricted stock units and restricted units activity was as follows: 2016 Restricted Stock Units Restricted Units Granted 28,952 10,251 Forfeited (527 ) — Nonvested units, March 31 28,425 10,251 Performance-Contingent Cash Awards - A summary of the performance-contingent cash awards activity was as follows: 2016 2015 Nonvested awards, January 1 81,876 78,930 Granted — 41,105 Vested (a) — (37,332 ) Forfeited (382 ) (469 ) Nonvested awards, March 31 81,494 82,234 (a) In 2015, 37,332 performance-contingent cash awards granted in 2013 vested, resulting in cash payouts valued at $2.4 million . |
Asset Retirement Obligations
Asset Retirement Obligations | 3 Months Ended |
Mar. 31, 2016 | |
Asset Retirement Obligations [Line Items] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Balance, January 1 $214.0 $114.0 $132.9 $51.8 $71.9 $52.4 Revisions in estimated cash flows 0.5 — 0.5 — — — Liabilities settled (2.7 ) (2.2 ) (0.7 ) (2.2 ) (2.0 ) — Liabilities incurred 0.7 — 0.7 — — — Accretion expense 1.6 1.0 0.9 0.4 0.6 0.4 Balance, March 31 $214.1 $112.8 $134.3 $50.0 $70.5 $52.8 |
IPL [Member] | |
Asset Retirement Obligations [Line Items] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Balance, January 1 $214.0 $114.0 $132.9 $51.8 $71.9 $52.4 Revisions in estimated cash flows 0.5 — 0.5 — — — Liabilities settled (2.7 ) (2.2 ) (0.7 ) (2.2 ) (2.0 ) — Liabilities incurred 0.7 — 0.7 — — — Accretion expense 1.6 1.0 0.9 0.4 0.6 0.4 Balance, March 31 $214.1 $112.8 $134.3 $50.0 $70.5 $52.8 |
WPL [Member] | |
Asset Retirement Obligations [Line Items] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Balance, January 1 $214.0 $114.0 $132.9 $51.8 $71.9 $52.4 Revisions in estimated cash flows 0.5 — 0.5 — — — Liabilities settled (2.7 ) (2.2 ) (0.7 ) (2.2 ) (2.0 ) — Liabilities incurred 0.7 — 0.7 — — — Accretion expense 1.6 1.0 0.9 0.4 0.6 0.4 Balance, March 31 $214.1 $112.8 $134.3 $50.0 $70.5 $52.8 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Valuation Hierarchy - At each reporting date, Level 1 items included IPL’s 5.1% cumulative preferred stock, Level 2 items included certain non-exchange traded commodity contracts and substantially all of the long-term debt instruments, and Level 3 items included FTRs, certain non-exchange traded commodity contracts and IPL’s deferred proceeds. 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, transmission congestion costs and rail transportation costs. 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 and physical forward contracts (IPL and 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) Manage rail transportation costs Diesel fuel swap contracts (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 12 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 amounts 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 4 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. 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. 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 related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $7.7 $— $1.2 $6.5 $7.7 $18.4 $— $2.5 $15.9 $18.4 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 84.0 — 11.6 72.4 84.0 64.6 — 16.0 48.6 64.6 Long-term debt (including current maturities) 3,836.1 — 4,452.3 3.3 4,455.6 3,835.6 — 4,332.4 3.7 4,336.1 Cumulative preferred stock of IPL 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 IPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $5.8 $— $1.1 $4.7 $5.8 $15.5 $— $2.0 $13.5 $15.5 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 23.3 — 5.5 17.8 23.3 23.4 — 8.0 15.4 23.4 Long-term debt (including current maturities) 1,857.4 — 2,147.2 — 2,147.2 1,856.9 — 2,092.7 — 2,092.7 Cumulative preferred stock 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 WPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $1.9 $— $0.1 $1.8 $1.9 $2.9 $— $0.5 $2.4 $2.9 Liabilities and equity: Derivatives 60.7 — 6.1 54.6 60.7 41.2 — 8.0 33.2 41.2 Long-term debt (including current maturities) 1,534.2 — 1,854.3 — 1,854.3 1,533.9 — 1,793.0 — 1,793.0 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 Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($32.7 ) $17.9 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (31.4 ) (18.1 ) — — Transfers into Level 3 0.9 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (2.1 ) (12.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($65.9 ) ($13.1 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($30.0 ) ($16.5 ) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($1.9 ) $19.4 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (7.6 ) (12.5 ) — — Transfers into Level 3 0.5 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (3.5 ) (11.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($13.1 ) ($5.0 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($6.6 ) ($10.7 ) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2016 2015 Beginning balance, January 1 ($30.8 ) ($1.5 ) Total net losses included in changes in net assets (realized/unrealized) (23.8 ) (5.6 ) Transfers into Level 3 0.4 — Settlements 1.4 (1.0 ) Ending balance, March 31 ($52.8 ) ($8.1 ) The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($23.4 ) ($5.8 ) (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash 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) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2016 ($67.9 ) $2.0 ($15.0 ) $1.9 ($52.9 ) $0.1 December 31, 2015 (43.1 ) 10.4 (12.3 ) 10.4 (30.8 ) — |
IPL [Member] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Valuation Hierarchy - At each reporting date, Level 1 items included IPL’s 5.1% cumulative preferred stock, Level 2 items included certain non-exchange traded commodity contracts and substantially all of the long-term debt instruments, and Level 3 items included FTRs, certain non-exchange traded commodity contracts and IPL’s deferred proceeds. 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, transmission congestion costs and rail transportation costs. 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 and physical forward contracts (IPL and 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) Manage rail transportation costs Diesel fuel swap contracts (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 12 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 amounts 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 4 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. 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. 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 related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $7.7 $— $1.2 $6.5 $7.7 $18.4 $— $2.5 $15.9 $18.4 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 84.0 — 11.6 72.4 84.0 64.6 — 16.0 48.6 64.6 Long-term debt (including current maturities) 3,836.1 — 4,452.3 3.3 4,455.6 3,835.6 — 4,332.4 3.7 4,336.1 Cumulative preferred stock of IPL 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 IPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $5.8 $— $1.1 $4.7 $5.8 $15.5 $— $2.0 $13.5 $15.5 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 23.3 — 5.5 17.8 23.3 23.4 — 8.0 15.4 23.4 Long-term debt (including current maturities) 1,857.4 — 2,147.2 — 2,147.2 1,856.9 — 2,092.7 — 2,092.7 Cumulative preferred stock 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 WPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $1.9 $— $0.1 $1.8 $1.9 $2.9 $— $0.5 $2.4 $2.9 Liabilities and equity: Derivatives 60.7 — 6.1 54.6 60.7 41.2 — 8.0 33.2 41.2 Long-term debt (including current maturities) 1,534.2 — 1,854.3 — 1,854.3 1,533.9 — 1,793.0 — 1,793.0 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 Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($32.7 ) $17.9 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (31.4 ) (18.1 ) — — Transfers into Level 3 0.9 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (2.1 ) (12.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($65.9 ) ($13.1 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($30.0 ) ($16.5 ) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($1.9 ) $19.4 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (7.6 ) (12.5 ) — — Transfers into Level 3 0.5 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (3.5 ) (11.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($13.1 ) ($5.0 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($6.6 ) ($10.7 ) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2016 2015 Beginning balance, January 1 ($30.8 ) ($1.5 ) Total net losses included in changes in net assets (realized/unrealized) (23.8 ) (5.6 ) Transfers into Level 3 0.4 — Settlements 1.4 (1.0 ) Ending balance, March 31 ($52.8 ) ($8.1 ) The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($23.4 ) ($5.8 ) (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash 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) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2016 ($67.9 ) $2.0 ($15.0 ) $1.9 ($52.9 ) $0.1 December 31, 2015 (43.1 ) 10.4 (12.3 ) 10.4 (30.8 ) — |
WPL [Member] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Valuation Hierarchy - At each reporting date, Level 1 items included IPL’s 5.1% cumulative preferred stock, Level 2 items included certain non-exchange traded commodity contracts and substantially all of the long-term debt instruments, and Level 3 items included FTRs, certain non-exchange traded commodity contracts and IPL’s deferred proceeds. 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, transmission congestion costs and rail transportation costs. 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 and physical forward contracts (IPL and 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) Manage rail transportation costs Diesel fuel swap contracts (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 12 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 amounts 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 4 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. 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. 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 related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $7.7 $— $1.2 $6.5 $7.7 $18.4 $— $2.5 $15.9 $18.4 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 84.0 — 11.6 72.4 84.0 64.6 — 16.0 48.6 64.6 Long-term debt (including current maturities) 3,836.1 — 4,452.3 3.3 4,455.6 3,835.6 — 4,332.4 3.7 4,336.1 Cumulative preferred stock of IPL 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 IPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $5.8 $— $1.1 $4.7 $5.8 $15.5 $— $2.0 $13.5 $15.5 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 23.3 — 5.5 17.8 23.3 23.4 — 8.0 15.4 23.4 Long-term debt (including current maturities) 1,857.4 — 2,147.2 — 2,147.2 1,856.9 — 2,092.7 — 2,092.7 Cumulative preferred stock 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 WPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $1.9 $— $0.1 $1.8 $1.9 $2.9 $— $0.5 $2.4 $2.9 Liabilities and equity: Derivatives 60.7 — 6.1 54.6 60.7 41.2 — 8.0 33.2 41.2 Long-term debt (including current maturities) 1,534.2 — 1,854.3 — 1,854.3 1,533.9 — 1,793.0 — 1,793.0 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 Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($32.7 ) $17.9 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (31.4 ) (18.1 ) — — Transfers into Level 3 0.9 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (2.1 ) (12.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($65.9 ) ($13.1 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($30.0 ) ($16.5 ) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($1.9 ) $19.4 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (7.6 ) (12.5 ) — — Transfers into Level 3 0.5 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (3.5 ) (11.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($13.1 ) ($5.0 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($6.6 ) ($10.7 ) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2016 2015 Beginning balance, January 1 ($30.8 ) ($1.5 ) Total net losses included in changes in net assets (realized/unrealized) (23.8 ) (5.6 ) Transfers into Level 3 0.4 — Settlements 1.4 (1.0 ) Ending balance, March 31 ($52.8 ) ($8.1 ) The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($23.4 ) ($5.8 ) (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash 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) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2016 ($67.9 ) $2.0 ($15.0 ) $1.9 ($52.9 ) $0.1 December 31, 2015 (43.1 ) 10.4 (12.3 ) 10.4 (30.8 ) — |
Derivative Instruments
Derivative Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments [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 11 for detailed discussion of derivative instruments. Notional Amounts - As of March 31, 2016 , gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts, FTRs, coal contracts and diesel fuel contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 5,115 2016-2018 3,768 2016 94,635 2016-2020 4,240 2016-2018 5,292 2016-2017 IPL 660 2016 2,232 2016 49,747 2016-2020 1,661 2016-2018 — — WPL 4,455 2016-2018 1,536 2016 44,888 2016-2020 2,579 2016-2018 5,292 2016-2017 Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities. 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 March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $6.1 $15.1 $4.8 $13.8 $1.3 $1.3 Non-current derivative assets 1.6 3.3 1.0 1.7 0.6 1.6 Current derivative liabilities 56.3 47.3 18.7 18.5 37.6 28.8 Non-current derivative liabilities 27.7 17.3 4.6 4.9 23.1 12.4 Unrealized gains and losses from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets. Refer to Notes 2 and 11 for further discussion. 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 March 31, 2016 and December 31, 2015 , the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than 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. 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, amounts would not be materially different from gross amounts of derivative assets and derivative liabilities at March 31, 2016 and December 31, 2015 . 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 Instruments [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 11 for detailed discussion of derivative instruments. Notional Amounts - As of March 31, 2016 , gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts, FTRs, coal contracts and diesel fuel contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 5,115 2016-2018 3,768 2016 94,635 2016-2020 4,240 2016-2018 5,292 2016-2017 IPL 660 2016 2,232 2016 49,747 2016-2020 1,661 2016-2018 — — WPL 4,455 2016-2018 1,536 2016 44,888 2016-2020 2,579 2016-2018 5,292 2016-2017 Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities. 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 March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $6.1 $15.1 $4.8 $13.8 $1.3 $1.3 Non-current derivative assets 1.6 3.3 1.0 1.7 0.6 1.6 Current derivative liabilities 56.3 47.3 18.7 18.5 37.6 28.8 Non-current derivative liabilities 27.7 17.3 4.6 4.9 23.1 12.4 Unrealized gains and losses from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets. Refer to Notes 2 and 11 for further discussion. 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 March 31, 2016 and December 31, 2015 , the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than 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. 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, amounts would not be materially different from gross amounts of derivative assets and derivative liabilities at March 31, 2016 and December 31, 2015 . 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 Instruments [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 11 for detailed discussion of derivative instruments. Notional Amounts - As of March 31, 2016 , gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts, FTRs, coal contracts and diesel fuel contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 5,115 2016-2018 3,768 2016 94,635 2016-2020 4,240 2016-2018 5,292 2016-2017 IPL 660 2016 2,232 2016 49,747 2016-2020 1,661 2016-2018 — — WPL 4,455 2016-2018 1,536 2016 44,888 2016-2020 2,579 2016-2018 5,292 2016-2017 Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities. 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 March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $6.1 $15.1 $4.8 $13.8 $1.3 $1.3 Non-current derivative assets 1.6 3.3 1.0 1.7 0.6 1.6 Current derivative liabilities 56.3 47.3 18.7 18.5 37.6 28.8 Non-current derivative liabilities 27.7 17.3 4.6 4.9 23.1 12.4 Unrealized gains and losses from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets. Refer to Notes 2 and 11 for further discussion. 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 March 31, 2016 and December 31, 2015 , the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than 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. 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, amounts would not be materially different from gross amounts of derivative assets and derivative liabilities at March 31, 2016 and December 31, 2015 . 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 | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure | COMMITMENTS AND CONTINGENCIES NOTE 13(a) Capital Purchase Obligations - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects. IPL’s projects include generation maintenance and performance improvements for Marshalltown Combustion Turbine Units 1-3. WPL’s projects include generation maintenance and performance improvements at Columbia Units 1 and 2, the installation of a scrubber and baghouse at Edgewater Unit 5 to reduce SO2 and mercury emissions, and the installation of an SCR system at Columbia Unit 2 to reduce NOx emissions at the EGU. At March 31, 2016 , Alliant Energy’s, IPL’s and WPL’s minimum future commitments related to certain contractual obligations for these projects were $30 million , $15 million and $15 million , respectively. NOTE 13(b) Operating Expense Purchase Obligations - Various commodity supply, transportation and storage contracts help 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 March 31, 2016 , minimum future commitments related to these operating expense purchase obligations were as follows (in millions): Alliant Energy IPL WPL Purchased power (a): DAEC (IPL) $1,390 $1,390 $— Other 145 1 144 1,535 1,391 144 Natural gas 408 225 183 Coal (b) 238 102 136 SO2 emission allowances 8 8 — Other (c) 24 5 2 $2,213 $1,731 $465 (a) Includes payments required by purchased power agreements for capacity rights and minimum quantities of MWhs required to be purchased. (b) Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of March 31, 2016 regarding expected future usage, which is subject to change. (c) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2016 . NOTE 13(c) Legal Proceedings - Flood Damage Claims - In 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 February 2016, the Iowa District Court for Linn County ruled in favor of Alliant Energy and CRANDIC and dismissed all claims against them, resulting in no loss. In March 2016, plaintiffs filed a notice of appeal with the Supreme Court of Iowa, and the plaintiffs’ right to appeal has been challenged by another defendant. There is no deadline for the Supreme Court of Iowa to rule on the motion challenging the appeal. NOTE 13(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 contractual warranty periods for RMT’s projects generally range from 12 to 60 months with the latest expiring in 2016. Limited warranties may be extended in certain cases for warranty work performed. 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 March 31, 2016 , Alliant Energy had $123 million of performance guarantees outstanding, with $48 million and $75 million currently expected to expire in 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 March 31, 2016 . Alliant Energy does not currently believe that the range of future potential loss from any warranty claims will be material. Refer to Note 16 for further discussion of RMT, including amounts Alliant Energy recorded to “Operating expenses” during the three months ended March 31, 2016 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. Resources, as the successor to a predecessor entity that owned Whiting Petroleum, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under general partnership agreements in the oil and gas industry, including with respect to the future abandonment of certain platforms off the coast of California and related onshore plant and equipment owned by the partnerships. The guarantees do not include a maximum limit. As of March 31, 2016 , the present value of the abandonment obligations is estimated at $29 million . Alliant Energy is not aware of any material liabilities related to these guarantees of which it is probable that Resources will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of March 31, 2016 . IPL’s Minnesota Electric Distribution Assets - IPL provided indemnifications associated with the July 2015 sale of its Minnesota electric distribution assets for losses resulting from potential breach of IPL’s representations, warranties and obligations under the sale agreement. Alliant Energy and IPL believe the likelihood of having to make any material cash payments under these indemnifications is remote. IPL has not recorded any material liabilities related to these indemnifications as of March 31, 2016 . The general terms of the indemnifications provided by IPL included a maximum limit of $17 million and expire in October 2020 . NOTE 13(e) Environmental Matters - 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 24 and 5 sites, respectively. Environmental liabilities related to the 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 March 31, 2016 , 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 - $28 $10 - $24 $2 - $4 Current and non-current environmental liabilities 16 13 3 WPL Consent Decree - In 2013, the U.S. District Court for the Western District of Wisconsin approved a Consent Decree that WPL, along with the other owners of Edgewater and Columbia, entered into with the EPA and the Sierra Club, thereby resolving claims against WPL. Such claims included allegations that the owners of Edgewater, Nelson Dewey and Columbia violated the Prevention of Significant Deterioration program requirements, Title V Operating Permit requirements of the CAA and the Wisconsin State Implementation Plan designed to implement the CAA. WPL has completed various requirements under the Consent Decree. WPL’s remaining requirements include installing a scrubber and baghouse at Edgewater Unit 5 by December 31, 2016 and an SCR system at Columbia Unit 2 by December 31, 2018. WPL is also required to fuel switch or retire 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. WPL is in the process of completing approximately $7 million in environmental mitigation projects. Alliant Energy and WPL currently expect to recover material costs incurred by WPL related to compliance with the terms of the Consent Decree from WPL’s electric customers. The recovery of such costs will be decided by the PSCW in future rate cases or other proceedings. IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential CAA issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include installing an SCR system or equivalent NOx reduction system at the Ottumwa Generating Station by December 31, 2019; fuel switching or retiring Prairie Creek Unit 4 by June 1, 2018, the Burlington Generating Station by December 31, 2021 and Prairie Creek Units 1 and 3 by December 31, 2025; and either installing combined cycle technology at, or retiring, the Dubuque and Sutherland Generating Stations by June 1, 2019. The Consent Decree also establishes SO2, NOx and particulate matter emission rate limits with varying averaging times for the Burlington, Lansing, M.L. Kapp, Ottumwa and Prairie Creek Generating Stations. In addition, the Consent Decree includes calendar-year SO2 and NOx emission caps for the Prairie Creek Generating Station, and calendar-year SO2 and NOx emission caps in aggregate for the Burlington, Dubuque, Lansing, M.L. Kapp, Ottumwa, Prairie Creek and Sutherland Generating Stations. IPL will also complete approximately $6 million in environmental mitigation projects. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to the environmental control systems and environmental mitigation projects from IPL’s electric customers. The recovery of such costs will be decided by IPL’s regulators in future rate cases or other proceedings. 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 include, among others: Cross-State Air Pollution Rule, Ozone NAAQS Rule, Federal Clean Water Act including Section 316(b), Effluent Limitation Guidelines, Hydroelectric Fish Passage Device, CCR Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including carbon emissions from new (CAA Section 111(b)) and existing (CAA Section 111(d)) fossil-fueled EGUs. |
IPL [Member] | |
Commitments and Contingencies Disclosure | COMMITMENTS AND CONTINGENCIES NOTE 13(a) Capital Purchase Obligations - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects. IPL’s projects include generation maintenance and performance improvements for Marshalltown Combustion Turbine Units 1-3. WPL’s projects include generation maintenance and performance improvements at Columbia Units 1 and 2, the installation of a scrubber and baghouse at Edgewater Unit 5 to reduce SO2 and mercury emissions, and the installation of an SCR system at Columbia Unit 2 to reduce NOx emissions at the EGU. At March 31, 2016 , Alliant Energy’s, IPL’s and WPL’s minimum future commitments related to certain contractual obligations for these projects were $30 million , $15 million and $15 million , respectively. NOTE 13(b) Operating Expense Purchase Obligations - Various commodity supply, transportation and storage contracts help 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 March 31, 2016 , minimum future commitments related to these operating expense purchase obligations were as follows (in millions): Alliant Energy IPL WPL Purchased power (a): DAEC (IPL) $1,390 $1,390 $— Other 145 1 144 1,535 1,391 144 Natural gas 408 225 183 Coal (b) 238 102 136 SO2 emission allowances 8 8 — Other (c) 24 5 2 $2,213 $1,731 $465 (a) Includes payments required by purchased power agreements for capacity rights and minimum quantities of MWhs required to be purchased. (b) Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of March 31, 2016 regarding expected future usage, which is subject to change. (c) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2016 . NOTE 13(c) Legal Proceedings - Flood Damage Claims - In 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 February 2016, the Iowa District Court for Linn County ruled in favor of Alliant Energy and CRANDIC and dismissed all claims against them, resulting in no loss. In March 2016, plaintiffs filed a notice of appeal with the Supreme Court of Iowa, and the plaintiffs’ right to appeal has been challenged by another defendant. There is no deadline for the Supreme Court of Iowa to rule on the motion challenging the appeal. NOTE 13(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 contractual warranty periods for RMT’s projects generally range from 12 to 60 months with the latest expiring in 2016. Limited warranties may be extended in certain cases for warranty work performed. 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 March 31, 2016 , Alliant Energy had $123 million of performance guarantees outstanding, with $48 million and $75 million currently expected to expire in 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 March 31, 2016 . Alliant Energy does not currently believe that the range of future potential loss from any warranty claims will be material. Refer to Note 16 for further discussion of RMT, including amounts Alliant Energy recorded to “Operating expenses” during the three months ended March 31, 2016 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. Resources, as the successor to a predecessor entity that owned Whiting Petroleum, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under general partnership agreements in the oil and gas industry, including with respect to the future abandonment of certain platforms off the coast of California and related onshore plant and equipment owned by the partnerships. The guarantees do not include a maximum limit. As of March 31, 2016 , the present value of the abandonment obligations is estimated at $29 million . Alliant Energy is not aware of any material liabilities related to these guarantees of which it is probable that Resources will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of March 31, 2016 . IPL’s Minnesota Electric Distribution Assets - IPL provided indemnifications associated with the July 2015 sale of its Minnesota electric distribution assets for losses resulting from potential breach of IPL’s representations, warranties and obligations under the sale agreement. Alliant Energy and IPL believe the likelihood of having to make any material cash payments under these indemnifications is remote. IPL has not recorded any material liabilities related to these indemnifications as of March 31, 2016 . The general terms of the indemnifications provided by IPL included a maximum limit of $17 million and expire in October 2020 . NOTE 13(e) Environmental Matters - 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 24 and 5 sites, respectively. Environmental liabilities related to the 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 March 31, 2016 , 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 - $28 $10 - $24 $2 - $4 Current and non-current environmental liabilities 16 13 3 WPL Consent Decree - In 2013, the U.S. District Court for the Western District of Wisconsin approved a Consent Decree that WPL, along with the other owners of Edgewater and Columbia, entered into with the EPA and the Sierra Club, thereby resolving claims against WPL. Such claims included allegations that the owners of Edgewater, Nelson Dewey and Columbia violated the Prevention of Significant Deterioration program requirements, Title V Operating Permit requirements of the CAA and the Wisconsin State Implementation Plan designed to implement the CAA. WPL has completed various requirements under the Consent Decree. WPL’s remaining requirements include installing a scrubber and baghouse at Edgewater Unit 5 by December 31, 2016 and an SCR system at Columbia Unit 2 by December 31, 2018. WPL is also required to fuel switch or retire 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. WPL is in the process of completing approximately $7 million in environmental mitigation projects. Alliant Energy and WPL currently expect to recover material costs incurred by WPL related to compliance with the terms of the Consent Decree from WPL’s electric customers. The recovery of such costs will be decided by the PSCW in future rate cases or other proceedings. IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential CAA issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include installing an SCR system or equivalent NOx reduction system at the Ottumwa Generating Station by December 31, 2019; fuel switching or retiring Prairie Creek Unit 4 by June 1, 2018, the Burlington Generating Station by December 31, 2021 and Prairie Creek Units 1 and 3 by December 31, 2025; and either installing combined cycle technology at, or retiring, the Dubuque and Sutherland Generating Stations by June 1, 2019. The Consent Decree also establishes SO2, NOx and particulate matter emission rate limits with varying averaging times for the Burlington, Lansing, M.L. Kapp, Ottumwa and Prairie Creek Generating Stations. In addition, the Consent Decree includes calendar-year SO2 and NOx emission caps for the Prairie Creek Generating Station, and calendar-year SO2 and NOx emission caps in aggregate for the Burlington, Dubuque, Lansing, M.L. Kapp, Ottumwa, Prairie Creek and Sutherland Generating Stations. IPL will also complete approximately $6 million in environmental mitigation projects. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to the environmental control systems and environmental mitigation projects from IPL’s electric customers. The recovery of such costs will be decided by IPL’s regulators in future rate cases or other proceedings. 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 include, among others: Cross-State Air Pollution Rule, Ozone NAAQS Rule, Federal Clean Water Act including Section 316(b), Effluent Limitation Guidelines, Hydroelectric Fish Passage Device, CCR Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including carbon emissions from new (CAA Section 111(b)) and existing (CAA Section 111(d)) fossil-fueled EGUs. |
WPL [Member] | |
Commitments and Contingencies Disclosure | COMMITMENTS AND CONTINGENCIES NOTE 13(a) Capital Purchase Obligations - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects. IPL’s projects include generation maintenance and performance improvements for Marshalltown Combustion Turbine Units 1-3. WPL’s projects include generation maintenance and performance improvements at Columbia Units 1 and 2, the installation of a scrubber and baghouse at Edgewater Unit 5 to reduce SO2 and mercury emissions, and the installation of an SCR system at Columbia Unit 2 to reduce NOx emissions at the EGU. At March 31, 2016 , Alliant Energy’s, IPL’s and WPL’s minimum future commitments related to certain contractual obligations for these projects were $30 million , $15 million and $15 million , respectively. NOTE 13(b) Operating Expense Purchase Obligations - Various commodity supply, transportation and storage contracts help 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 March 31, 2016 , minimum future commitments related to these operating expense purchase obligations were as follows (in millions): Alliant Energy IPL WPL Purchased power (a): DAEC (IPL) $1,390 $1,390 $— Other 145 1 144 1,535 1,391 144 Natural gas 408 225 183 Coal (b) 238 102 136 SO2 emission allowances 8 8 — Other (c) 24 5 2 $2,213 $1,731 $465 (a) Includes payments required by purchased power agreements for capacity rights and minimum quantities of MWhs required to be purchased. (b) Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of March 31, 2016 regarding expected future usage, which is subject to change. (c) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2016 . NOTE 13(c) Legal Proceedings - Flood Damage Claims - In 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 February 2016, the Iowa District Court for Linn County ruled in favor of Alliant Energy and CRANDIC and dismissed all claims against them, resulting in no loss. In March 2016, plaintiffs filed a notice of appeal with the Supreme Court of Iowa, and the plaintiffs’ right to appeal has been challenged by another defendant. There is no deadline for the Supreme Court of Iowa to rule on the motion challenging the appeal. NOTE 13(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 contractual warranty periods for RMT’s projects generally range from 12 to 60 months with the latest expiring in 2016. Limited warranties may be extended in certain cases for warranty work performed. 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 March 31, 2016 , Alliant Energy had $123 million of performance guarantees outstanding, with $48 million and $75 million currently expected to expire in 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 March 31, 2016 . Alliant Energy does not currently believe that the range of future potential loss from any warranty claims will be material. Refer to Note 16 for further discussion of RMT, including amounts Alliant Energy recorded to “Operating expenses” during the three months ended March 31, 2016 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. Resources, as the successor to a predecessor entity that owned Whiting Petroleum, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under general partnership agreements in the oil and gas industry, including with respect to the future abandonment of certain platforms off the coast of California and related onshore plant and equipment owned by the partnerships. The guarantees do not include a maximum limit. As of March 31, 2016 , the present value of the abandonment obligations is estimated at $29 million . Alliant Energy is not aware of any material liabilities related to these guarantees of which it is probable that Resources will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of March 31, 2016 . IPL’s Minnesota Electric Distribution Assets - IPL provided indemnifications associated with the July 2015 sale of its Minnesota electric distribution assets for losses resulting from potential breach of IPL’s representations, warranties and obligations under the sale agreement. Alliant Energy and IPL believe the likelihood of having to make any material cash payments under these indemnifications is remote. IPL has not recorded any material liabilities related to these indemnifications as of March 31, 2016 . The general terms of the indemnifications provided by IPL included a maximum limit of $17 million and expire in October 2020 . NOTE 13(e) Environmental Matters - 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 24 and 5 sites, respectively. Environmental liabilities related to the 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 March 31, 2016 , 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 - $28 $10 - $24 $2 - $4 Current and non-current environmental liabilities 16 13 3 WPL Consent Decree - In 2013, the U.S. District Court for the Western District of Wisconsin approved a Consent Decree that WPL, along with the other owners of Edgewater and Columbia, entered into with the EPA and the Sierra Club, thereby resolving claims against WPL. Such claims included allegations that the owners of Edgewater, Nelson Dewey and Columbia violated the Prevention of Significant Deterioration program requirements, Title V Operating Permit requirements of the CAA and the Wisconsin State Implementation Plan designed to implement the CAA. WPL has completed various requirements under the Consent Decree. WPL’s remaining requirements include installing a scrubber and baghouse at Edgewater Unit 5 by December 31, 2016 and an SCR system at Columbia Unit 2 by December 31, 2018. WPL is also required to fuel switch or retire 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. WPL is in the process of completing approximately $7 million in environmental mitigation projects. Alliant Energy and WPL currently expect to recover material costs incurred by WPL related to compliance with the terms of the Consent Decree from WPL’s electric customers. The recovery of such costs will be decided by the PSCW in future rate cases or other proceedings. IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential CAA issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include installing an SCR system or equivalent NOx reduction system at the Ottumwa Generating Station by December 31, 2019; fuel switching or retiring Prairie Creek Unit 4 by June 1, 2018, the Burlington Generating Station by December 31, 2021 and Prairie Creek Units 1 and 3 by December 31, 2025; and either installing combined cycle technology at, or retiring, the Dubuque and Sutherland Generating Stations by June 1, 2019. The Consent Decree also establishes SO2, NOx and particulate matter emission rate limits with varying averaging times for the Burlington, Lansing, M.L. Kapp, Ottumwa and Prairie Creek Generating Stations. In addition, the Consent Decree includes calendar-year SO2 and NOx emission caps for the Prairie Creek Generating Station, and calendar-year SO2 and NOx emission caps in aggregate for the Burlington, Dubuque, Lansing, M.L. Kapp, Ottumwa, Prairie Creek and Sutherland Generating Stations. IPL will also complete approximately $6 million in environmental mitigation projects. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to the environmental control systems and environmental mitigation projects from IPL’s electric customers. The recovery of such costs will be decided by IPL’s regulators in future rate cases or other proceedings. 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 include, among others: Cross-State Air Pollution Rule, Ozone NAAQS Rule, Federal Clean Water Act including Section 316(b), Effluent Limitation Guidelines, Hydroelectric Fish Passage Device, CCR Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including carbon emissions from new (CAA Section 111(b)) and existing (CAA Section 111(d)) fossil-fueled EGUs. |
Segments Of Business
Segments Of Business | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting Information [Line Items] | |
Segments Of Business | SEGMENTS OF BUSINESS Alliant Energy - Certain financial information relating to Alliant Energy’s business segments is as follows. Intersegment revenues were not material to Alliant Energy’s operations. Utility Non-Regulated, Alliant Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2016 Operating revenues $668.9 $152.2 $13.2 $834.3 $9.5 $843.8 Operating income 109.8 28.8 2.2 140.8 5.1 145.9 Amounts attributable to Alliant Energy common shareowners: Income from continuing operations, net of tax 92.1 5.5 97.6 Loss from discontinued operations, net of tax — (1.1 ) (1.1 ) Net income 92.1 4.4 96.5 Three Months Ended March 31, 2015 Operating revenues $671.3 $198.4 $16.4 $886.1 $11.3 $897.4 Operating income 104.7 36.3 5.3 146.3 6.6 152.9 Net income attributable to Alliant Energy common shareowners 92.4 4.2 96.6 IPL - Certain financial information relating to IPL’s business segments is as follows. Intersegment revenues were not material to IPL’s operations. Electric Gas Other Total (in millions) Three Months Ended March 31, 2016 Operating revenues $361.6 $84.2 $12.9 $458.7 Operating income 43.4 15.8 2.8 62.0 Earnings available for common stock 45.6 Three Months Ended March 31, 2015 Operating revenues $362.6 $111.2 $15.2 $489.0 Operating income 40.3 20.6 4.6 65.5 Earnings available for common stock 47.5 WPL - Certain financial information relating to WPL’s business segments is as follows. Intersegment revenues were not material to WPL’s operations. Electric Gas Other Total (in millions) Three Months Ended March 31, 2016 Operating revenues $307.3 $68.0 $0.3 $375.6 Operating income (loss) 66.4 13.0 (0.6 ) 78.8 Earnings available for common stock 46.5 Three Months Ended March 31, 2015 Operating revenues $308.7 $87.2 $1.2 $397.1 Operating income 64.4 15.7 0.7 80.8 Earnings available for common stock 44.9 |
IPL [Member] | |
Segment Reporting Information [Line Items] | |
Segments Of Business | SEGMENTS OF BUSINESS Alliant Energy - Certain financial information relating to Alliant Energy’s business segments is as follows. Intersegment revenues were not material to Alliant Energy’s operations. Utility Non-Regulated, Alliant Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2016 Operating revenues $668.9 $152.2 $13.2 $834.3 $9.5 $843.8 Operating income 109.8 28.8 2.2 140.8 5.1 145.9 Amounts attributable to Alliant Energy common shareowners: Income from continuing operations, net of tax 92.1 5.5 97.6 Loss from discontinued operations, net of tax — (1.1 ) (1.1 ) Net income 92.1 4.4 96.5 Three Months Ended March 31, 2015 Operating revenues $671.3 $198.4 $16.4 $886.1 $11.3 $897.4 Operating income 104.7 36.3 5.3 146.3 6.6 152.9 Net income attributable to Alliant Energy common shareowners 92.4 4.2 96.6 IPL - Certain financial information relating to IPL’s business segments is as follows. Intersegment revenues were not material to IPL’s operations. Electric Gas Other Total (in millions) Three Months Ended March 31, 2016 Operating revenues $361.6 $84.2 $12.9 $458.7 Operating income 43.4 15.8 2.8 62.0 Earnings available for common stock 45.6 Three Months Ended March 31, 2015 Operating revenues $362.6 $111.2 $15.2 $489.0 Operating income 40.3 20.6 4.6 65.5 Earnings available for common stock 47.5 WPL - Certain financial information relating to WPL’s business segments is as follows. Intersegment revenues were not material to WPL’s operations. Electric Gas Other Total (in millions) Three Months Ended March 31, 2016 Operating revenues $307.3 $68.0 $0.3 $375.6 Operating income (loss) 66.4 13.0 (0.6 ) 78.8 Earnings available for common stock 46.5 Three Months Ended March 31, 2015 Operating revenues $308.7 $87.2 $1.2 $397.1 Operating income 64.4 15.7 0.7 80.8 Earnings available for common stock 44.9 |
WPL [Member] | |
Segment Reporting Information [Line Items] | |
Segments Of Business | SEGMENTS OF BUSINESS Alliant Energy - Certain financial information relating to Alliant Energy’s business segments is as follows. Intersegment revenues were not material to Alliant Energy’s operations. Utility Non-Regulated, Alliant Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2016 Operating revenues $668.9 $152.2 $13.2 $834.3 $9.5 $843.8 Operating income 109.8 28.8 2.2 140.8 5.1 145.9 Amounts attributable to Alliant Energy common shareowners: Income from continuing operations, net of tax 92.1 5.5 97.6 Loss from discontinued operations, net of tax — (1.1 ) (1.1 ) Net income 92.1 4.4 96.5 Three Months Ended March 31, 2015 Operating revenues $671.3 $198.4 $16.4 $886.1 $11.3 $897.4 Operating income 104.7 36.3 5.3 146.3 6.6 152.9 Net income attributable to Alliant Energy common shareowners 92.4 4.2 96.6 IPL - Certain financial information relating to IPL’s business segments is as follows. Intersegment revenues were not material to IPL’s operations. Electric Gas Other Total (in millions) Three Months Ended March 31, 2016 Operating revenues $361.6 $84.2 $12.9 $458.7 Operating income 43.4 15.8 2.8 62.0 Earnings available for common stock 45.6 Three Months Ended March 31, 2015 Operating revenues $362.6 $111.2 $15.2 $489.0 Operating income 40.3 20.6 4.6 65.5 Earnings available for common stock 47.5 WPL - Certain financial information relating to WPL’s business segments is as follows. Intersegment revenues were not material to WPL’s operations. Electric Gas Other Total (in millions) Three Months Ended March 31, 2016 Operating revenues $307.3 $68.0 $0.3 $375.6 Operating income (loss) 66.4 13.0 (0.6 ) 78.8 Earnings available for common stock 46.5 Three Months Ended March 31, 2015 Operating revenues $308.7 $87.2 $1.2 $397.1 Operating income 64.4 15.7 0.7 80.8 Earnings available for common stock 44.9 |
Related Parties
Related Parties | 3 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions [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, depreciation and amortization of property, plant and equipment, 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. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2016 2015 2016 2015 Corporate Services billings $38 $36 $33 $28 Sales credited 1 4 1 6 Purchases billed 96 79 19 14 Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Net payables to Corporate Services $100 $93 $59 $54 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 for the three months ended March 31 were as follows (in millions): 2016 2015 ATC billings to WPL $27 $25 WPL billings to ATC 3 2 WPL owed ATC net amounts of $8 million as of March 31, 2016 and $8 million as of December 31, 2015 . |
IPL [Member] | |
Related Party Transactions [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, depreciation and amortization of property, plant and equipment, 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. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2016 2015 2016 2015 Corporate Services billings $38 $36 $33 $28 Sales credited 1 4 1 6 Purchases billed 96 79 19 14 Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Net payables to Corporate Services $100 $93 $59 $54 |
WPL [Member] | |
Related Party Transactions [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, depreciation and amortization of property, plant and equipment, 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. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2016 2015 2016 2015 Corporate Services billings $38 $36 $33 $28 Sales credited 1 4 1 6 Purchases billed 96 79 19 14 Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Net payables to Corporate Services $100 $93 $59 $54 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 for the three months ended March 31 were as follows (in millions): 2016 2015 ATC billings to WPL $27 $25 WPL billings to ATC 3 2 WPL owed ATC net amounts of $8 million as of March 31, 2016 and $8 million as of December 31, 2015 . |
Discontinued Operations
Discontinued Operations | 3 Months Ended |
Mar. 31, 2016 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations and Assets and Liabilities Held For Sale | DISCONTINUED OPERATIONS In 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 for the three months ended March 31 was as follows (in millions): 2016 Operating expenses $1.9 Loss before income taxes (1.9 ) Income tax benefit (0.8 ) Loss from discontinued operations, net of tax ($1.1 ) Refer to Note 13(d) for further discussion of warranty claims associated with RMT that have resulted in operating expenses subsequent to the sale. |
Summary Of Significant Accoun22
Summary Of Significant Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2016 | |
General, Basis of Accounting | The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the latest combined Annual Report on Form 10-K. |
General, Use of Estimates | In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the three months ended March 31, 2016 are not necessarily indicative of results that may be expected for the year ending December 31, 2016 . A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. |
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. Unless otherwise noted, the Notes herein exclude discontinued operations for all periods presented. In the fourth quarter of 2015, IPL and WPL implemented a change in method of recording income taxes that impacts the separate financial statements of IPL and WPL. As required by GAAP, all prior period financial statements and disclosures presented herein have been restated to reflect these changes. |
New Accounting Standards | New Accounting Standards - Revenue Recognition - In May 2014, the Financial Accounting Standards Board 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 currently expect to adopt this standard on January 1, 2018 and are currently evaluating the impact of this standard on their financial condition and results of operations. Leases - In February 2016, the Financial Accounting Standards Board issued an accounting standard requiring lease assets and lease liabilities, including operating leases, to be recognized on the balance sheet for all leases with terms longer than 12 months. The standard also requires disclosure of key information about leasing arrangements. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2019 and are currently evaluating the impact of this standard on their financial condition and results of operations. Early adoption of this standard is permitted. |
IPL [Member] | |
General, Basis of Accounting | The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the latest combined Annual Report on Form 10-K. |
General, Use of Estimates | In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the three months ended March 31, 2016 are not necessarily indicative of results that may be expected for the year ending December 31, 2016 . A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. |
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. Unless otherwise noted, the Notes herein exclude discontinued operations for all periods presented. In the fourth quarter of 2015, IPL and WPL implemented a change in method of recording income taxes that impacts the separate financial statements of IPL and WPL. As required by GAAP, all prior period financial statements and disclosures presented herein have been restated to reflect these changes. |
New Accounting Standards | New Accounting Standards - Revenue Recognition - In May 2014, the Financial Accounting Standards Board 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 currently expect to adopt this standard on January 1, 2018 and are currently evaluating the impact of this standard on their financial condition and results of operations. Leases - In February 2016, the Financial Accounting Standards Board issued an accounting standard requiring lease assets and lease liabilities, including operating leases, to be recognized on the balance sheet for all leases with terms longer than 12 months. The standard also requires disclosure of key information about leasing arrangements. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2019 and are currently evaluating the impact of this standard on their financial condition and results of operations. Early adoption of this standard is permitted. |
WPL [Member] | |
General, Basis of Accounting | The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the latest combined Annual Report on Form 10-K. |
General, Use of Estimates | In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the three months ended March 31, 2016 are not necessarily indicative of results that may be expected for the year ending December 31, 2016 . A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. |
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. Unless otherwise noted, the Notes herein exclude discontinued operations for all periods presented. In the fourth quarter of 2015, IPL and WPL implemented a change in method of recording income taxes that impacts the separate financial statements of IPL and WPL. As required by GAAP, all prior period financial statements and disclosures presented herein have been restated to reflect these changes. |
New Accounting Standards | New Accounting Standards - Revenue Recognition - In May 2014, the Financial Accounting Standards Board 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 currently expect to adopt this standard on January 1, 2018 and are currently evaluating the impact of this standard on their financial condition and results of operations. Leases - In February 2016, the Financial Accounting Standards Board issued an accounting standard requiring lease assets and lease liabilities, including operating leases, to be recognized on the balance sheet for all leases with terms longer than 12 months. The standard also requires disclosure of key information about leasing arrangements. Alliant Energy, IPL and WPL are required to adopt this standard on January 1, 2019 and are currently evaluating the impact of this standard on their financial condition and results of operations. Early adoption of this standard is permitted. |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Regulatory Assets [Line Items] | |
Regulatory Assets | Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $1,002.7 $987.7 $972.0 $958.2 $30.7 $29.5 Pension and OPEB costs 570.0 579.5 293.6 298.1 276.4 281.4 AROs 96.1 92.4 54.1 50.8 42.0 41.6 Derivatives 86.6 70.6 25.5 28.2 61.1 42.4 WPL’s EGUs retired early 43.2 45.0 — — 43.2 45.0 Emission allowances 26.7 26.9 26.7 26.9 — — Commodity cost recovery 26.3 35.9 0.3 2.8 26.0 33.1 Other 65.6 70.6 33.7 37.6 31.9 33.0 $1,917.2 $1,908.6 $1,405.9 $1,402.6 $511.3 $506.0 |
Regulatory Liabilities | Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Cost of removal obligations $408.1 $406.0 $263.1 $260.4 $145.0 $145.6 IPL’s tax benefit riders 141.1 159.2 141.1 159.2 — — Electric transmission cost recovery 51.4 43.5 25.5 21.9 25.9 21.6 Energy efficiency cost recovery 41.6 48.3 — — 41.6 48.3 Commodity cost recovery 35.2 37.6 20.4 23.5 14.8 14.1 Other 33.6 43.1 18.1 24.2 15.5 18.9 $711.0 $737.7 $468.2 $489.2 $242.8 $248.5 |
Tax Benefit Riders | For the three months ended March 31 , 2016 , Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by $18 million as follows (in millions): Electric tax benefit rider credits $15 Gas tax benefit rider credits 3 $18 |
Customer Billing Credits | For the three months ended March 31 , IPL recorded billing credits to reduce retail electric customers’ bills as follows (in millions): 2016 2015 Billing credits to reduce retail electric customers’ bills $2 $6 |
IPL [Member] | |
Regulatory Assets [Line Items] | |
Regulatory Assets | Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $1,002.7 $987.7 $972.0 $958.2 $30.7 $29.5 Pension and OPEB costs 570.0 579.5 293.6 298.1 276.4 281.4 AROs 96.1 92.4 54.1 50.8 42.0 41.6 Derivatives 86.6 70.6 25.5 28.2 61.1 42.4 WPL’s EGUs retired early 43.2 45.0 — — 43.2 45.0 Emission allowances 26.7 26.9 26.7 26.9 — — Commodity cost recovery 26.3 35.9 0.3 2.8 26.0 33.1 Other 65.6 70.6 33.7 37.6 31.9 33.0 $1,917.2 $1,908.6 $1,405.9 $1,402.6 $511.3 $506.0 |
Regulatory Liabilities | Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Cost of removal obligations $408.1 $406.0 $263.1 $260.4 $145.0 $145.6 IPL’s tax benefit riders 141.1 159.2 141.1 159.2 — — Electric transmission cost recovery 51.4 43.5 25.5 21.9 25.9 21.6 Energy efficiency cost recovery 41.6 48.3 — — 41.6 48.3 Commodity cost recovery 35.2 37.6 20.4 23.5 14.8 14.1 Other 33.6 43.1 18.1 24.2 15.5 18.9 $711.0 $737.7 $468.2 $489.2 $242.8 $248.5 |
Tax Benefit Riders | For the three months ended March 31 , 2016 , Alliant Energy’s and IPL’s “IPL’s tax benefit riders” regulatory liabilities decreased by $18 million as follows (in millions): Electric tax benefit rider credits $15 Gas tax benefit rider credits 3 $18 |
Customer Billing Credits | For the three months ended March 31 , IPL recorded billing credits to reduce retail electric customers’ bills as follows (in millions): 2016 2015 Billing credits to reduce retail electric customers’ bills $2 $6 |
WPL [Member] | |
Regulatory Assets [Line Items] | |
Regulatory Assets | Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $1,002.7 $987.7 $972.0 $958.2 $30.7 $29.5 Pension and OPEB costs 570.0 579.5 293.6 298.1 276.4 281.4 AROs 96.1 92.4 54.1 50.8 42.0 41.6 Derivatives 86.6 70.6 25.5 28.2 61.1 42.4 WPL’s EGUs retired early 43.2 45.0 — — 43.2 45.0 Emission allowances 26.7 26.9 26.7 26.9 — — Commodity cost recovery 26.3 35.9 0.3 2.8 26.0 33.1 Other 65.6 70.6 33.7 37.6 31.9 33.0 $1,917.2 $1,908.6 $1,405.9 $1,402.6 $511.3 $506.0 |
Regulatory Liabilities | Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Cost of removal obligations $408.1 $406.0 $263.1 $260.4 $145.0 $145.6 IPL’s tax benefit riders 141.1 159.2 141.1 159.2 — — Electric transmission cost recovery 51.4 43.5 25.5 21.9 25.9 21.6 Energy efficiency cost recovery 41.6 48.3 — — 41.6 48.3 Commodity cost recovery 35.2 37.6 20.4 23.5 14.8 14.1 Other 33.6 43.1 18.1 24.2 15.5 18.9 $711.0 $737.7 $468.2 $489.2 $242.8 $248.5 |
Receivables (Tables)
Receivables (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Line Items] | |
Maximum And Average Outstanding Cash Proceeds | IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions): 2016 2015 Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) $75.0 $118.0 Average outstanding aggregate cash proceeds (based on daily outstanding balances) 39.1 68.0 |
Receivables Sold Under The Receivables Agreement | The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): March 31, 2016 December 31, 2015 Customer accounts receivable $142.7 $109.7 Unbilled utility revenues 77.5 71.3 Other receivables 0.3 0.1 Receivables sold to third party 220.5 181.1 Less: cash proceeds (a) 62.0 5.0 Deferred proceeds 158.5 176.1 Less: allowance for doubtful accounts 4.3 4.1 Fair value of deferred proceeds $154.2 $172.0 (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 Receivables Agreement | Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions): 2016 2015 Collections reinvested in receivables $440.2 $505.9 Credit losses, net of recoveries 0.4 1.0 |
IPL [Member] | |
Receivables [Line Items] | |
Maximum And Average Outstanding Cash Proceeds | IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions): 2016 2015 Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) $75.0 $118.0 Average outstanding aggregate cash proceeds (based on daily outstanding balances) 39.1 68.0 |
Receivables Sold Under The Receivables Agreement | The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): March 31, 2016 December 31, 2015 Customer accounts receivable $142.7 $109.7 Unbilled utility revenues 77.5 71.3 Other receivables 0.3 0.1 Receivables sold to third party 220.5 181.1 Less: cash proceeds (a) 62.0 5.0 Deferred proceeds 158.5 176.1 Less: allowance for doubtful accounts 4.3 4.1 Fair value of deferred proceeds $154.2 $172.0 (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 Receivables Agreement | Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions): 2016 2015 Collections reinvested in receivables $440.2 $505.9 Credit losses, net of recoveries 0.4 1.0 |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Schedule of Investments [Line Items] | |
Unconsolidated Equity Investments | Equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three months ended March 31 was as follows (in millions): Alliant Energy WPL 2016 2015 2016 2015 ATC ($10.7 ) ($7.8 ) ($10.7 ) ($7.8 ) Other 0.2 1.3 — — ($10.5 ) ($6.5 ) ($10.7 ) ($7.8 ) |
WPL [Member] | |
Schedule of Investments [Line Items] | |
Unconsolidated Equity Investments | Equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three months ended March 31 was as follows (in millions): Alliant Energy WPL 2016 2015 2016 2015 ATC ($10.7 ) ($7.8 ) ($10.7 ) ($7.8 ) Other 0.2 1.3 — — ($10.5 ) ($6.5 ) ($10.7 ) ($7.8 ) |
Common Equity (Tables)
Common Equity (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Pro Forma Earnings Per Share | For the three months ended March 31 , pro forma basic and diluted EPS attributable to Alliant Energy common shareowners to reflect the two-for-one common stock split is as follows: 2016 2015 Basic and diluted EPS: As reported $0.85 $0.87 Pro forma 0.43 0.43 |
Common Share Activity | A summary of Alliant Energy’s common stock activity was as follows: Shares outstanding, January 1, 2016 113,459,216 Shareowner Direct Plan issuances 92,231 Equity-based compensation plans ( Note 9(b) ) 11,204 Shares outstanding, March 31, 2016 113,562,651 |
Debt (Tables)
Debt (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 Parent March 31, 2016 (Consolidated) Company IPL WPL Commercial paper: Amount outstanding $213.4 $187.9 $— $25.5 Weighted average remaining maturity 2 days 2 days N/A 1 day Weighted average interest rates 0.6% 0.6% N/A 0.4% Available credit facility capacity $786.6 $112.1 $300.0 $374.5 Alliant Energy IPL WPL Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Maximum amount outstanding (based on daily outstanding balances) $242.6 $151.3 $— $1.4 $55.7 $— Average amount outstanding (based on daily outstanding balances) $199.0 $127.9 $— $— $25.8 $— Weighted average interest rates 0.6 % 0.4 % N/A 0.4 % 0.4% N/A |
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 Parent March 31, 2016 (Consolidated) Company IPL WPL Commercial paper: Amount outstanding $213.4 $187.9 $— $25.5 Weighted average remaining maturity 2 days 2 days N/A 1 day Weighted average interest rates 0.6% 0.6% N/A 0.4% Available credit facility capacity $786.6 $112.1 $300.0 $374.5 Alliant Energy IPL WPL Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Maximum amount outstanding (based on daily outstanding balances) $242.6 $151.3 $— $1.4 $55.7 $— Average amount outstanding (based on daily outstanding balances) $199.0 $127.9 $— $— $25.8 $— Weighted average interest rates 0.6 % 0.4 % N/A 0.4 % 0.4% N/A |
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 Parent March 31, 2016 (Consolidated) Company IPL WPL Commercial paper: Amount outstanding $213.4 $187.9 $— $25.5 Weighted average remaining maturity 2 days 2 days N/A 1 day Weighted average interest rates 0.6% 0.6% N/A 0.4% Available credit facility capacity $786.6 $112.1 $300.0 $374.5 Alliant Energy IPL WPL Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Maximum amount outstanding (based on daily outstanding balances) $242.6 $151.3 $— $1.4 $55.7 $— Average amount outstanding (based on daily outstanding balances) $199.0 $127.9 $— $— $25.8 $— Weighted average interest rates 0.6 % 0.4 % N/A 0.4 % 0.4% N/A |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Income Taxes [Line Items] | |
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 Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % IPL’s tax benefit riders (8.7 ) (9.9 ) (20.7 ) (25.2 ) — — Effect of rate-making on property-related differences (6.8 ) (6.1 ) (15.2 ) (14.6 ) (0.8 ) (0.6 ) Production tax credits (6.3 ) (6.2 ) (6.7 ) (7.1 ) (6.5 ) (6.2 ) Other items, net 4.5 4.3 5.9 4.8 4.8 4.4 Overall income tax rate 17.7 % 17.1 % (1.7 %) (7.1 %) 32.5 % 32.6 % |
Summary Of Tax Credit Carryforwards | At March 31, 2016 , tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (dollars in millions): Alliant Energy IPL WPL Earliest Expiration Date Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Federal net operating losses 2030 $733 $252 $330 $111 $298 $104 State net operating losses 2018 748 39 20 1 47 2 Federal tax credits 2022 250 246 89 86 101 101 $537 $198 $207 |
IPL [Member] | |
Income Taxes [Line Items] | |
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 Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % IPL’s tax benefit riders (8.7 ) (9.9 ) (20.7 ) (25.2 ) — — Effect of rate-making on property-related differences (6.8 ) (6.1 ) (15.2 ) (14.6 ) (0.8 ) (0.6 ) Production tax credits (6.3 ) (6.2 ) (6.7 ) (7.1 ) (6.5 ) (6.2 ) Other items, net 4.5 4.3 5.9 4.8 4.8 4.4 Overall income tax rate 17.7 % 17.1 % (1.7 %) (7.1 %) 32.5 % 32.6 % |
Summary Of Tax Credit Carryforwards | At March 31, 2016 , tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (dollars in millions): Alliant Energy IPL WPL Earliest Expiration Date Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Federal net operating losses 2030 $733 $252 $330 $111 $298 $104 State net operating losses 2018 748 39 20 1 47 2 Federal tax credits 2022 250 246 89 86 101 101 $537 $198 $207 |
WPL [Member] | |
Income Taxes [Line Items] | |
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 Three Months Ended March 31 2016 2015 2016 2015 2016 2015 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % IPL’s tax benefit riders (8.7 ) (9.9 ) (20.7 ) (25.2 ) — — Effect of rate-making on property-related differences (6.8 ) (6.1 ) (15.2 ) (14.6 ) (0.8 ) (0.6 ) Production tax credits (6.3 ) (6.2 ) (6.7 ) (7.1 ) (6.5 ) (6.2 ) Other items, net 4.5 4.3 5.9 4.8 4.8 4.4 Overall income tax rate 17.7 % 17.1 % (1.7 %) (7.1 %) 32.5 % 32.6 % |
Summary Of Tax Credit Carryforwards | At March 31, 2016 , tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (dollars in millions): Alliant Energy IPL WPL Earliest Expiration Date Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Tax Carryforwards Deferred Tax Assets Federal net operating losses 2030 $733 $252 $330 $111 $298 $104 State net operating losses 2018 748 39 20 1 47 2 Federal tax credits 2022 250 246 89 86 101 101 $537 $198 $207 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Pension And Other Postretirement Benefits Plans | The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included in the tables below (in millions). In IPL’s and WPL’s tables below, the defined benefit pension plans costs represent those respective costs for their bargaining unit employees covered under the qualified plans that they sponsor, as well as amounts directly assigned to them 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 IPL’s and WPL’s tables below, the OPEB plans costs (credits) represent respective costs (credits) for their employees, as well as amounts directly assigned to them related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2016 2015 2016 2015 Service cost $3.2 $4.0 $1.3 $1.4 Interest cost 13.3 13.4 2.3 2.2 Expected return on plan assets (16.4 ) (18.7 ) (1.5 ) (2.1 ) Amortization of prior service credit (0.1 ) (0.1 ) (1.0 ) (2.8 ) Amortization of actuarial loss 9.3 8.8 1.2 1.2 Additional benefit costs — 0.2 — — $9.3 $7.6 $2.3 ($0.1 ) Defined Benefit Pension Plans OPEB Plans IPL 2016 2015 2016 2015 Service cost $1.9 $2.2 $0.6 $0.6 Interest cost 6.1 6.2 1.0 0.9 Expected return on plan assets (7.7 ) (8.9 ) (1.0 ) (1.4 ) Amortization of prior service credit — — (0.7 ) (1.5 ) Amortization of actuarial loss 4.1 3.8 0.6 0.6 $4.4 $3.3 $0.5 ($0.8 ) Defined Benefit Pension Plans OPEB Plans WPL 2016 2015 2016 2015 Service cost $1.2 $1.4 $0.5 $0.6 Interest cost 5.6 5.6 0.9 0.9 Expected return on plan assets (7.1 ) (8.1 ) (0.2 ) (0.4 ) Amortization of prior service cost (credit) 0.1 0.1 (0.2 ) (0.9 ) Amortization of actuarial loss 4.4 4.2 0.5 0.6 Additional benefit costs — 0.2 — — $4.2 $3.4 $1.5 $0.8 |
Employees Participate In Defined Contribution Retirement Plans | For the three months ended March 31 , costs related to the 401(k) savings plans, which are partially based on the participants’ contributions and include allocated costs associated with Corporate Services employees for IPL and WPL, were as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 401(k) costs $6.2 $6.7 $3.1 $3.4 $2.8 $2.9 |
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 for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Compensation expense $5.3 $3.2 $2.8 $1.7 $2.3 $1.4 Income tax benefits 2.2 1.3 1.1 0.7 0.9 0.6 |
Schedule Of Equity-based Compensation Plans Activity | Information related to fair values of nonvested performance shares and performance units at March 31, 2016 , by year of grant, was as follows: Performance Shares Performance Units 2016 Grant 2015 Grant 2014 Grant 2016 Grant 2015 Grant 2014 Grant Nonvested awards 33,161 45,403 49,719 11,959 17,209 19,235 Alliant Energy common stock closing price on March 31, 2016 $74.28 $74.28 $74.28 $74.28 N/A N/A Alliant Energy common stock closing price on grant date N/A N/A N/A N/A $65.09 $53.77 Estimated payout percentage based on performance criteria 108 % 90 % 138 % 108 % 90 % 138 % Fair values of each nonvested award $80.22 $66.85 $102.51 $80.22 $58.58 $74.20 |
Performance Shares and Units [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule Of Equity-based Compensation Plans Activity | A summary of the performance shares and performance units activity, with amounts representing the target number of awards, was as follows: Performance Shares Performance Units 2016 2015 2016 2015 Nonvested awards, January 1 144,215 144,424 58,206 63,665 Granted 33,776 45,403 11,959 17,837 Vested (49,093 ) (45,612 ) (21,380 ) (22,845 ) Forfeited (615 ) — (382 ) (93 ) Nonvested awards, March 31 128,283 144,215 48,403 58,564 Granted Awards - For the performance units granted in 2016, each performance unit’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. For the performance units granted prior to 2016, each performance unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. Vested Awards - During the three months ended March 31 , certain performance shares and performance units vested, resulting in payouts (a combination of cash and common stock for the performance shares and cash only for the performance units) as follows: Performance Shares Performance Units 2016 2015 2016 2015 2013 Grant 2012 Grant 2013 Grant 2012 Grant Performance awards vested 49,093 45,612 21,380 22,845 Percentage of target number of performance awards 165.0 % 167.5 % 165.0 % 167.5 % Aggregate payout value (in millions) $5.1 $5.1 $1.7 $1.6 Payout - cash (in millions) $2.9 $3.2 $1.7 $1.6 Payout - common stock shares issued 11,204 10,975 N/A N/A |
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: 2016 2015 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Nonvested shares, January 1 95,122 $59.17 98,812 $50.69 Granted — — 45,403 65.09 Vested (a) — — (49,093 ) 47.58 Nonvested shares, March 31 95,122 59.17 95,122 59.17 (a) In 2015, 49,093 performance contingent restricted shares granted in 2013 vested because the specified performance criteria for such shares were met. |
Performance Restricted Stock Unit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule Of Equity-based Compensation Plans Activity | A summary of the performance restricted stock units activity, with amounts representing the target number of units, was as follows: 2016 Units Weighted Average Grant Date Fair Value Granted 33,776 $67.85 Forfeited (615 ) 67.80 Nonvested units, March 31 33,161 67.85 |
Performance Restricted Unit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule Of Equity-based Compensation Plans Activity | A summary of the performance restricted units activity, with amounts representing the target number of units, was as follows: 2016 Granted 11,959 Nonvested units, March 31 11,959 |
Key Employee Performance Restricted Unit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule Of Equity-based Compensation Plans Activity | A summary of the key employee performance restricted units activity, with amounts representing the target number of units, was as follows: 2016 Units Weighted Average Grant Date Fair Value Granted 22,528 $67.80 Nonvested units, March 31 22,528 67.80 |
Restricted Stock Unit And Restricted Unit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule Of Equity-based Compensation Plans Activity | A summary of the restricted stock units and restricted units activity was as follows: 2016 Restricted Stock Units Restricted Units Granted 28,952 10,251 Forfeited (527 ) — Nonvested units, March 31 28,425 10,251 |
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: 2016 2015 Nonvested awards, January 1 81,876 78,930 Granted — 41,105 Vested (a) — (37,332 ) Forfeited (382 ) (469 ) Nonvested awards, March 31 81,494 82,234 (a) In 2015, 37,332 performance-contingent cash awards granted in 2013 vested, resulting in cash payouts valued at $2.4 million . |
IPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Pension And Other Postretirement Benefits Plans | The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included in the tables below (in millions). In IPL’s and WPL’s tables below, the defined benefit pension plans costs represent those respective costs for their bargaining unit employees covered under the qualified plans that they sponsor, as well as amounts directly assigned to them 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 IPL’s and WPL’s tables below, the OPEB plans costs (credits) represent respective costs (credits) for their employees, as well as amounts directly assigned to them related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2016 2015 2016 2015 Service cost $3.2 $4.0 $1.3 $1.4 Interest cost 13.3 13.4 2.3 2.2 Expected return on plan assets (16.4 ) (18.7 ) (1.5 ) (2.1 ) Amortization of prior service credit (0.1 ) (0.1 ) (1.0 ) (2.8 ) Amortization of actuarial loss 9.3 8.8 1.2 1.2 Additional benefit costs — 0.2 — — $9.3 $7.6 $2.3 ($0.1 ) Defined Benefit Pension Plans OPEB Plans IPL 2016 2015 2016 2015 Service cost $1.9 $2.2 $0.6 $0.6 Interest cost 6.1 6.2 1.0 0.9 Expected return on plan assets (7.7 ) (8.9 ) (1.0 ) (1.4 ) Amortization of prior service credit — — (0.7 ) (1.5 ) Amortization of actuarial loss 4.1 3.8 0.6 0.6 $4.4 $3.3 $0.5 ($0.8 ) Defined Benefit Pension Plans OPEB Plans WPL 2016 2015 2016 2015 Service cost $1.2 $1.4 $0.5 $0.6 Interest cost 5.6 5.6 0.9 0.9 Expected return on plan assets (7.1 ) (8.1 ) (0.2 ) (0.4 ) Amortization of prior service cost (credit) 0.1 0.1 (0.2 ) (0.9 ) Amortization of actuarial loss 4.4 4.2 0.5 0.6 Additional benefit costs — 0.2 — — $4.2 $3.4 $1.5 $0.8 |
Employees Participate In Defined Contribution Retirement Plans | For the three months ended March 31 , costs related to the 401(k) savings plans, which are partially based on the participants’ contributions and include allocated costs associated with Corporate Services employees for IPL and WPL, were as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 401(k) costs $6.2 $6.7 $3.1 $3.4 $2.8 $2.9 |
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 for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Compensation expense $5.3 $3.2 $2.8 $1.7 $2.3 $1.4 Income tax benefits 2.2 1.3 1.1 0.7 0.9 0.6 |
WPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Pension And Other Postretirement Benefits Plans | The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included in the tables below (in millions). In IPL’s and WPL’s tables below, the defined benefit pension plans costs represent those respective costs for their bargaining unit employees covered under the qualified plans that they sponsor, as well as amounts directly assigned to them 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 IPL’s and WPL’s tables below, the OPEB plans costs (credits) represent respective costs (credits) for their employees, as well as amounts directly assigned to them related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2016 2015 2016 2015 Service cost $3.2 $4.0 $1.3 $1.4 Interest cost 13.3 13.4 2.3 2.2 Expected return on plan assets (16.4 ) (18.7 ) (1.5 ) (2.1 ) Amortization of prior service credit (0.1 ) (0.1 ) (1.0 ) (2.8 ) Amortization of actuarial loss 9.3 8.8 1.2 1.2 Additional benefit costs — 0.2 — — $9.3 $7.6 $2.3 ($0.1 ) Defined Benefit Pension Plans OPEB Plans IPL 2016 2015 2016 2015 Service cost $1.9 $2.2 $0.6 $0.6 Interest cost 6.1 6.2 1.0 0.9 Expected return on plan assets (7.7 ) (8.9 ) (1.0 ) (1.4 ) Amortization of prior service credit — — (0.7 ) (1.5 ) Amortization of actuarial loss 4.1 3.8 0.6 0.6 $4.4 $3.3 $0.5 ($0.8 ) Defined Benefit Pension Plans OPEB Plans WPL 2016 2015 2016 2015 Service cost $1.2 $1.4 $0.5 $0.6 Interest cost 5.6 5.6 0.9 0.9 Expected return on plan assets (7.1 ) (8.1 ) (0.2 ) (0.4 ) Amortization of prior service cost (credit) 0.1 0.1 (0.2 ) (0.9 ) Amortization of actuarial loss 4.4 4.2 0.5 0.6 Additional benefit costs — 0.2 — — $4.2 $3.4 $1.5 $0.8 |
Employees Participate In Defined Contribution Retirement Plans | For the three months ended March 31 , costs related to the 401(k) savings plans, which are partially based on the participants’ contributions and include allocated costs associated with Corporate Services employees for IPL and WPL, were as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 401(k) costs $6.2 $6.7 $3.1 $3.4 $2.8 $2.9 |
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 for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Compensation expense $5.3 $3.2 $2.8 $1.7 $2.3 $1.4 Income tax benefits 2.2 1.3 1.1 0.7 0.9 0.6 |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Schedule of Asset Retirement Obligations [Line Items] | |
Reconciliation Of Changes In Asset Retirement Obligations | A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Balance, January 1 $214.0 $114.0 $132.9 $51.8 $71.9 $52.4 Revisions in estimated cash flows 0.5 — 0.5 — — — Liabilities settled (2.7 ) (2.2 ) (0.7 ) (2.2 ) (2.0 ) — Liabilities incurred 0.7 — 0.7 — — — Accretion expense 1.6 1.0 0.9 0.4 0.6 0.4 Balance, March 31 $214.1 $112.8 $134.3 $50.0 $70.5 $52.8 |
IPL [Member] | |
Schedule of Asset Retirement Obligations [Line Items] | |
Reconciliation Of Changes In Asset Retirement Obligations | A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Balance, January 1 $214.0 $114.0 $132.9 $51.8 $71.9 $52.4 Revisions in estimated cash flows 0.5 — 0.5 — — — Liabilities settled (2.7 ) (2.2 ) (0.7 ) (2.2 ) (2.0 ) — Liabilities incurred 0.7 — 0.7 — — — Accretion expense 1.6 1.0 0.9 0.4 0.6 0.4 Balance, March 31 $214.1 $112.8 $134.3 $50.0 $70.5 $52.8 |
WPL [Member] | |
Schedule of Asset Retirement Obligations [Line Items] | |
Reconciliation Of Changes In Asset Retirement Obligations | A reconciliation of the changes in AROs associated with long-lived assets is as follows (in millions): Alliant Energy IPL WPL 2016 2015 2016 2015 2016 2015 Balance, January 1 $214.0 $114.0 $132.9 $51.8 $71.9 $52.4 Revisions in estimated cash flows 0.5 — 0.5 — — — Liabilities settled (2.7 ) (2.2 ) (0.7 ) (2.2 ) (2.0 ) — Liabilities incurred 0.7 — 0.7 — — — Accretion expense 1.6 1.0 0.9 0.4 0.6 0.4 Balance, March 31 $214.1 $112.8 $134.3 $50.0 $70.5 $52.8 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Statement [Line Items] | |
Fair Value Measurements | Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $7.7 $— $1.2 $6.5 $7.7 $18.4 $— $2.5 $15.9 $18.4 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 84.0 — 11.6 72.4 84.0 64.6 — 16.0 48.6 64.6 Long-term debt (including current maturities) 3,836.1 — 4,452.3 3.3 4,455.6 3,835.6 — 4,332.4 3.7 4,336.1 Cumulative preferred stock of IPL 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 IPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $5.8 $— $1.1 $4.7 $5.8 $15.5 $— $2.0 $13.5 $15.5 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 23.3 — 5.5 17.8 23.3 23.4 — 8.0 15.4 23.4 Long-term debt (including current maturities) 1,857.4 — 2,147.2 — 2,147.2 1,856.9 — 2,092.7 — 2,092.7 Cumulative preferred stock 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 WPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $1.9 $— $0.1 $1.8 $1.9 $2.9 $— $0.5 $2.4 $2.9 Liabilities and equity: Derivatives 60.7 — 6.1 54.6 60.7 41.2 — 8.0 33.2 41.2 Long-term debt (including current maturities) 1,534.2 — 1,854.3 — 1,854.3 1,533.9 — 1,793.0 — 1,793.0 |
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 Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($32.7 ) $17.9 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (31.4 ) (18.1 ) — — Transfers into Level 3 0.9 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (2.1 ) (12.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($65.9 ) ($13.1 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($30.0 ) ($16.5 ) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($1.9 ) $19.4 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (7.6 ) (12.5 ) — — Transfers into Level 3 0.5 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (3.5 ) (11.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($13.1 ) ($5.0 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($6.6 ) ($10.7 ) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2016 2015 Beginning balance, January 1 ($30.8 ) ($1.5 ) Total net losses included in changes in net assets (realized/unrealized) (23.8 ) (5.6 ) Transfers into Level 3 0.4 — Settlements 1.4 (1.0 ) Ending balance, March 31 ($52.8 ) ($8.1 ) The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($23.4 ) ($5.8 ) (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash 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) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2016 ($67.9 ) $2.0 ($15.0 ) $1.9 ($52.9 ) $0.1 December 31, 2015 (43.1 ) 10.4 (12.3 ) 10.4 (30.8 ) — |
IPL [Member] | |
Statement [Line Items] | |
Fair Value Measurements | Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $7.7 $— $1.2 $6.5 $7.7 $18.4 $— $2.5 $15.9 $18.4 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 84.0 — 11.6 72.4 84.0 64.6 — 16.0 48.6 64.6 Long-term debt (including current maturities) 3,836.1 — 4,452.3 3.3 4,455.6 3,835.6 — 4,332.4 3.7 4,336.1 Cumulative preferred stock of IPL 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 IPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $5.8 $— $1.1 $4.7 $5.8 $15.5 $— $2.0 $13.5 $15.5 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 23.3 — 5.5 17.8 23.3 23.4 — 8.0 15.4 23.4 Long-term debt (including current maturities) 1,857.4 — 2,147.2 — 2,147.2 1,856.9 — 2,092.7 — 2,092.7 Cumulative preferred stock 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 WPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $1.9 $— $0.1 $1.8 $1.9 $2.9 $— $0.5 $2.4 $2.9 Liabilities and equity: Derivatives 60.7 — 6.1 54.6 60.7 41.2 — 8.0 33.2 41.2 Long-term debt (including current maturities) 1,534.2 — 1,854.3 — 1,854.3 1,533.9 — 1,793.0 — 1,793.0 |
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 Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($32.7 ) $17.9 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (31.4 ) (18.1 ) — — Transfers into Level 3 0.9 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (2.1 ) (12.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($65.9 ) ($13.1 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($30.0 ) ($16.5 ) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($1.9 ) $19.4 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (7.6 ) (12.5 ) — — Transfers into Level 3 0.5 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (3.5 ) (11.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($13.1 ) ($5.0 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($6.6 ) ($10.7 ) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2016 2015 Beginning balance, January 1 ($30.8 ) ($1.5 ) Total net losses included in changes in net assets (realized/unrealized) (23.8 ) (5.6 ) Transfers into Level 3 0.4 — Settlements 1.4 (1.0 ) Ending balance, March 31 ($52.8 ) ($8.1 ) The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($23.4 ) ($5.8 ) (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash 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) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2016 ($67.9 ) $2.0 ($15.0 ) $1.9 ($52.9 ) $0.1 December 31, 2015 (43.1 ) 10.4 (12.3 ) 10.4 (30.8 ) — |
WPL [Member] | |
Statement [Line Items] | |
Fair Value Measurements | Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $7.7 $— $1.2 $6.5 $7.7 $18.4 $— $2.5 $15.9 $18.4 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 84.0 — 11.6 72.4 84.0 64.6 — 16.0 48.6 64.6 Long-term debt (including current maturities) 3,836.1 — 4,452.3 3.3 4,455.6 3,835.6 — 4,332.4 3.7 4,336.1 Cumulative preferred stock of IPL 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 IPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $5.8 $— $1.1 $4.7 $5.8 $15.5 $— $2.0 $13.5 $15.5 Deferred proceeds 154.2 — — 154.2 154.2 172.0 — — 172.0 172.0 Liabilities and equity: Derivatives 23.3 — 5.5 17.8 23.3 23.4 — 8.0 15.4 23.4 Long-term debt (including current maturities) 1,857.4 — 2,147.2 — 2,147.2 1,856.9 — 2,092.7 — 2,092.7 Cumulative preferred stock 200.0 208.3 — — 208.3 200.0 206.6 — — 206.6 WPL March 31, 2016 December 31, 2015 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $1.9 $— $0.1 $1.8 $1.9 $2.9 $— $0.5 $2.4 $2.9 Liabilities and equity: Derivatives 60.7 — 6.1 54.6 60.7 41.2 — 8.0 33.2 41.2 Long-term debt (including current maturities) 1,534.2 — 1,854.3 — 1,854.3 1,533.9 — 1,793.0 — 1,793.0 |
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 Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($32.7 ) $17.9 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (31.4 ) (18.1 ) — — Transfers into Level 3 0.9 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (2.1 ) (12.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($65.9 ) ($13.1 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($30.0 ) ($16.5 ) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2016 2015 2016 2015 Beginning balance, January 1 ($1.9 ) $19.4 $172.0 $177.2 Total net losses included in changes in net assets (realized/unrealized) (7.6 ) (12.5 ) — — Transfers into Level 3 0.5 — — — Sales (0.6 ) (0.9 ) — — Settlements (a) (3.5 ) (11.0 ) (17.8 ) (59.5 ) Ending balance, March 31 ($13.1 ) ($5.0 ) $154.2 $117.7 The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($6.6 ) ($10.7 ) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2016 2015 Beginning balance, January 1 ($30.8 ) ($1.5 ) Total net losses included in changes in net assets (realized/unrealized) (23.8 ) (5.6 ) Transfers into Level 3 0.4 — Settlements 1.4 (1.0 ) Ending balance, March 31 ($52.8 ) ($8.1 ) The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 ($23.4 ) ($5.8 ) (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash 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) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2016 ($67.9 ) $2.0 ($15.0 ) $1.9 ($52.9 ) $0.1 December 31, 2015 (43.1 ) 10.4 (12.3 ) 10.4 (30.8 ) — |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments [Line Items] | |
Notional Amounts Of Derivative Instruments | As of March 31, 2016 , gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts, FTRs, coal contracts and diesel fuel contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 5,115 2016-2018 3,768 2016 94,635 2016-2020 4,240 2016-2018 5,292 2016-2017 IPL 660 2016 2,232 2016 49,747 2016-2020 1,661 2016-2018 — — WPL 4,455 2016-2018 1,536 2016 44,888 2016-2020 2,579 2016-2018 5,292 2016-2017 |
Fair Value Of Financial Instruments | 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 March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $6.1 $15.1 $4.8 $13.8 $1.3 $1.3 Non-current derivative assets 1.6 3.3 1.0 1.7 0.6 1.6 Current derivative liabilities 56.3 47.3 18.7 18.5 37.6 28.8 Non-current derivative liabilities 27.7 17.3 4.6 4.9 23.1 12.4 |
IPL [Member] | |
Derivative Instruments [Line Items] | |
Notional Amounts Of Derivative Instruments | As of March 31, 2016 , gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts, FTRs, coal contracts and diesel fuel contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 5,115 2016-2018 3,768 2016 94,635 2016-2020 4,240 2016-2018 5,292 2016-2017 IPL 660 2016 2,232 2016 49,747 2016-2020 1,661 2016-2018 — — WPL 4,455 2016-2018 1,536 2016 44,888 2016-2020 2,579 2016-2018 5,292 2016-2017 |
Fair Value Of Financial Instruments | 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 March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $6.1 $15.1 $4.8 $13.8 $1.3 $1.3 Non-current derivative assets 1.6 3.3 1.0 1.7 0.6 1.6 Current derivative liabilities 56.3 47.3 18.7 18.5 37.6 28.8 Non-current derivative liabilities 27.7 17.3 4.6 4.9 23.1 12.4 |
WPL [Member] | |
Derivative Instruments [Line Items] | |
Notional Amounts Of Derivative Instruments | As of March 31, 2016 , gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts, FTRs, coal contracts and diesel fuel contracts that were accounted for as commodity derivative instruments were as follows (units in thousands): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 5,115 2016-2018 3,768 2016 94,635 2016-2020 4,240 2016-2018 5,292 2016-2017 IPL 660 2016 2,232 2016 49,747 2016-2020 1,661 2016-2018 — — WPL 4,455 2016-2018 1,536 2016 44,888 2016-2020 2,579 2016-2018 5,292 2016-2017 |
Fair Value Of Financial Instruments | 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 March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $6.1 $15.1 $4.8 $13.8 $1.3 $1.3 Non-current derivative assets 1.6 3.3 1.0 1.7 0.6 1.6 Current derivative liabilities 56.3 47.3 18.7 18.5 37.6 28.8 Non-current derivative liabilities 27.7 17.3 4.6 4.9 23.1 12.4 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies [Line Items] | |
Operating Expense Purchase Obligations | At March 31, 2016 , minimum future commitments related to these operating expense purchase obligations were as follows (in millions): Alliant Energy IPL WPL Purchased power (a): DAEC (IPL) $1,390 $1,390 $— Other 145 1 144 1,535 1,391 144 Natural gas 408 225 183 Coal (b) 238 102 136 SO2 emission allowances 8 8 — Other (c) 24 5 2 $2,213 $1,731 $465 (a) Includes payments required by purchased power agreements for capacity rights and minimum quantities of MWhs required to be purchased. (b) Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of March 31, 2016 regarding expected future usage, which is subject to change. (c) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2016 . |
MGP Site Estimated Future Costs And Recorded Liabilities | At March 31, 2016 , 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 - $28 $10 - $24 $2 - $4 Current and non-current environmental liabilities 16 13 3 |
IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Operating Expense Purchase Obligations | At March 31, 2016 , minimum future commitments related to these operating expense purchase obligations were as follows (in millions): Alliant Energy IPL WPL Purchased power (a): DAEC (IPL) $1,390 $1,390 $— Other 145 1 144 1,535 1,391 144 Natural gas 408 225 183 Coal (b) 238 102 136 SO2 emission allowances 8 8 — Other (c) 24 5 2 $2,213 $1,731 $465 (a) Includes payments required by purchased power agreements for capacity rights and minimum quantities of MWhs required to be purchased. (b) Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of March 31, 2016 regarding expected future usage, which is subject to change. (c) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2016 . |
MGP Site Estimated Future Costs And Recorded Liabilities | At March 31, 2016 , 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 - $28 $10 - $24 $2 - $4 Current and non-current environmental liabilities 16 13 3 |
WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Operating Expense Purchase Obligations | At March 31, 2016 , minimum future commitments related to these operating expense purchase obligations were as follows (in millions): Alliant Energy IPL WPL Purchased power (a): DAEC (IPL) $1,390 $1,390 $— Other 145 1 144 1,535 1,391 144 Natural gas 408 225 183 Coal (b) 238 102 136 SO2 emission allowances 8 8 — Other (c) 24 5 2 $2,213 $1,731 $465 (a) Includes payments required by purchased power agreements for capacity rights and minimum quantities of MWhs required to be purchased. (b) Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of March 31, 2016 regarding expected future usage, which is subject to change. (c) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2016 . |
MGP Site Estimated Future Costs And Recorded Liabilities | At March 31, 2016 , 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 - $28 $10 - $24 $2 - $4 Current and non-current environmental liabilities 16 13 3 |
Segments Of Business (Tables)
Segments Of Business (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting Information [Line Items] | |
Schedule Of Segments Of Business | Certain financial information relating to Alliant Energy’s business segments is as follows. Intersegment revenues were not material to Alliant Energy’s operations. Utility Non-Regulated, Alliant Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2016 Operating revenues $668.9 $152.2 $13.2 $834.3 $9.5 $843.8 Operating income 109.8 28.8 2.2 140.8 5.1 145.9 Amounts attributable to Alliant Energy common shareowners: Income from continuing operations, net of tax 92.1 5.5 97.6 Loss from discontinued operations, net of tax — (1.1 ) (1.1 ) Net income 92.1 4.4 96.5 Three Months Ended March 31, 2015 Operating revenues $671.3 $198.4 $16.4 $886.1 $11.3 $897.4 Operating income 104.7 36.3 5.3 146.3 6.6 152.9 Net income attributable to Alliant Energy common shareowners 92.4 4.2 96.6 |
IPL [Member] | |
Segment Reporting Information [Line Items] | |
Schedule Of Segments Of Business | Certain financial information relating to IPL’s business segments is as follows. Intersegment revenues were not material to IPL’s operations. Electric Gas Other Total (in millions) Three Months Ended March 31, 2016 Operating revenues $361.6 $84.2 $12.9 $458.7 Operating income 43.4 15.8 2.8 62.0 Earnings available for common stock 45.6 Three Months Ended March 31, 2015 Operating revenues $362.6 $111.2 $15.2 $489.0 Operating income 40.3 20.6 4.6 65.5 Earnings available for common stock 47.5 |
WPL [Member] | |
Segment Reporting Information [Line Items] | |
Schedule Of Segments Of Business | Certain financial information relating to WPL’s business segments is as follows. Intersegment revenues were not material to WPL’s operations. Electric Gas Other Total (in millions) Three Months Ended March 31, 2016 Operating revenues $307.3 $68.0 $0.3 $375.6 Operating income (loss) 66.4 13.0 (0.6 ) 78.8 Earnings available for common stock 46.5 Three Months Ended March 31, 2015 Operating revenues $308.7 $87.2 $1.2 $397.1 Operating income 64.4 15.7 0.7 80.8 Earnings available for common stock 44.9 |
Related Parties (Tables)
Related Parties (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions [Line Items] | |
Services Provided, Sales Credited And Purchases | The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2016 2015 2016 2015 Corporate Services billings $38 $36 $33 $28 Sales credited 1 4 1 6 Purchases billed 96 79 19 14 |
Net Intercompany Payables | Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Net payables to Corporate Services $100 $93 $59 $54 |
Related Amounts Billed Between Parties | The related amounts billed between the parties for the three months ended March 31 were as follows (in millions): 2016 2015 ATC billings to WPL $27 $25 WPL billings to ATC 3 2 |
IPL [Member] | |
Related Party Transactions [Line Items] | |
Services Provided, Sales Credited And Purchases | The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2016 2015 2016 2015 Corporate Services billings $38 $36 $33 $28 Sales credited 1 4 1 6 Purchases billed 96 79 19 14 |
Net Intercompany Payables | Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Net payables to Corporate Services $100 $93 $59 $54 |
WPL [Member] | |
Related Party Transactions [Line Items] | |
Services Provided, Sales Credited And Purchases | The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2016 2015 2016 2015 Corporate Services billings $38 $36 $33 $28 Sales credited 1 4 1 6 Purchases billed 96 79 19 14 |
Net Intercompany Payables | Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Net payables to Corporate Services $100 $93 $59 $54 |
Related Amounts Billed Between Parties | The related amounts billed between the parties for the three months ended March 31 were as follows (in millions): 2016 2015 ATC billings to WPL $27 $25 WPL billings to ATC 3 2 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations in Income Statement | A summary of the components of discontinued operations in Alliant Energy’s income statements for the three months ended March 31 was as follows (in millions): 2016 Operating expenses $1.9 Loss before income taxes (1.9 ) Income tax benefit (0.8 ) Loss from discontinued operations, net of tax ($1.1 ) |
Regulatory Matters (Regulatory
Regulatory Matters (Regulatory Assets) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 1,917.2 | $ 1,908.6 |
Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 1,002.7 | 987.7 |
Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 570 | 579.5 |
AROs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 96.1 | 92.4 |
Derivatives [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 86.6 | 70.6 |
WPL's EGUs retired early [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 43.2 | 45 |
Emission allowances [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 26.7 | 26.9 |
Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 26.3 | 35.9 |
Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 65.6 | 70.6 |
IPL [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 1,405.9 | 1,402.6 |
IPL [Member] | Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 972 | 958.2 |
IPL [Member] | Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 293.6 | 298.1 |
IPL [Member] | AROs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 54.1 | 50.8 |
IPL [Member] | Derivatives [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 25.5 | 28.2 |
IPL [Member] | Emission allowances [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 26.7 | 26.9 |
IPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 0.3 | 2.8 |
IPL [Member] | Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 33.7 | 37.6 |
WPL [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 511.3 | 506 |
WPL [Member] | Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 30.7 | 29.5 |
WPL [Member] | Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 276.4 | 281.4 |
WPL [Member] | AROs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 42 | 41.6 |
WPL [Member] | Derivatives [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 61.1 | 42.4 |
WPL [Member] | WPL's EGUs retired early [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 43.2 | 45 |
WPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 26 | 33.1 |
WPL [Member] | Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 31.9 | $ 33 |
Regulatory Matters (Regulator38
Regulatory Matters (Regulatory Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 711 | $ 737.7 |
Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 408.1 | 406 |
IPL's tax benefit riders [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 141.1 | 159.2 |
Electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 51.4 | 43.5 |
Energy efficiency cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 41.6 | 48.3 |
Commodity cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 35.2 | 37.6 |
Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 33.6 | 43.1 |
IPL [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 468.2 | 489.2 |
IPL [Member] | Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 263.1 | 260.4 |
IPL [Member] | IPL's tax benefit riders [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 141.1 | 159.2 |
IPL [Member] | Electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 25.5 | 21.9 |
IPL [Member] | Energy efficiency cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 0 | 0 |
IPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 20.4 | 23.5 |
IPL [Member] | Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 18.1 | 24.2 |
WPL [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 242.8 | 248.5 |
WPL [Member] | Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 145 | 145.6 |
WPL [Member] | Electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 25.9 | 21.6 |
WPL [Member] | Energy efficiency cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 41.6 | 48.3 |
WPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 14.8 | 14.1 |
WPL [Member] | Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 15.5 | $ 18.9 |
Regulatory Matters (Tax Benefit
Regulatory Matters (Tax Benefit Riders) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Regulatory Liabilities [Line Items] | ||
Increase (decrease) in regulatory liabilities | $ 28.7 | $ 6.6 |
Alliant Energy and IPL [Member] | Electric tax benefit rider [Member] | ||
Regulatory Liabilities [Line Items] | ||
Increase (decrease) in regulatory liabilities | (15) | |
Alliant Energy and IPL [Member] | Gas tax benefit rider [Member] | ||
Regulatory Liabilities [Line Items] | ||
Increase (decrease) in regulatory liabilities | (3) | |
Alliant Energy and IPL [Member] | Tax benefit riders [Member] | ||
Regulatory Liabilities [Line Items] | ||
Increase (decrease) in regulatory liabilities | $ (18) |
Regulatory Matters (Customer Bi
Regulatory Matters (Customer Billing Credits) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
IPL [Member] | ||
Regulatory Liabilities [Line Items] | ||
Customer billing credits | $ 2 | $ 6 |
Property, Plant and Equipment (
Property, Plant and Equipment (Narrative) (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2016USD ($)MW | Mar. 31, 2015USD ($) | |
Property, Plant and Equipment [Line Items] | ||
Allowance for funds used during construction | $ 13.2 | $ 6.8 |
Edgewater Unit 5 [Member] | Alliant Energy and WPL [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Construction work in progress | 207 | |
Allowance for funds used during construction | $ 10 | |
Marshalltown [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fossil-fueled EGU capacity (in megawatts) | MW | 650 | |
Marshalltown [Member] | Alliant Energy and IPL [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Construction work in progress | $ 492 | |
Allowance for funds used during construction | $ 33 |
Receivables (Narrative) (Detail
Receivables (Narrative) (Details) - Receivables Sold [Member] - IPL [Member] - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 | |
Receivables [Line Items] | |||
Receivables sold to third party | $ 220.5 | $ 181.1 | |
Cash proceeds of receivables sold | [1] | 62 | 5 |
Deferred proceeds | 154.2 | $ 172 | |
Outstanding receivables past due | $ 47.5 | ||
[1] | Changes in cash proceeds are presented in “Sales of accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements. |
Receivables (Maximum And Averag
Receivables (Maximum And Average Outstanding Cash Proceeds) (Details) - IPL [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Receivables [Line Items] | ||
Outstanding aggregate cash proceeds (based on daily outstanding balances) | $ 39.1 | $ 68 |
Maximum [Member] | ||
Receivables [Line Items] | ||
Outstanding aggregate cash proceeds (based on daily outstanding balances) | $ 75 | $ 118 |
Receivables (Receivables Sold U
Receivables (Receivables Sold Under The Agreement) (Details) - Receivables Sold [Member] - IPL [Member] - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 | |
Receivables [Line Items] | |||
Customer accounts receivable | $ 142.7 | $ 109.7 | |
Unbilled utility revenues | 77.5 | 71.3 | |
Other receivables | 0.3 | 0.1 | |
Receivables sold to third party | 220.5 | 181.1 | |
Less: cash proceeds | [1] | 62 | 5 |
Deferred proceeds | 158.5 | 176.1 | |
Less: allowance for doubtful accounts | 4.3 | 4.1 | |
Fair value of deferred proceeds | $ 154.2 | $ 172 | |
[1] | Changes in cash proceeds are presented in “Sales of accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements. |
Receivables (Additional Attribu
Receivables (Additional Attributes Of Receivables Sold Under The Agreement) (Details) - IPL [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Receivables [Line Items] | ||
Collections reinvested in receivables | $ 440.2 | $ 505.9 |
Credit losses, net of recoveries | $ 0.4 | $ 1 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Schedule of Investments [Line Items] | |
Proceeds from liquidation of company-owned life insurance policies | $ 26 |
IPL [Member] | |
Schedule of Investments [Line Items] | |
Proceeds from liquidation of company-owned life insurance policies | $ 18 |
Investments (Unconsolidated Equ
Investments (Unconsolidated Equity Investments) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Schedule of Investments [Line Items] | ||
Equity (income) loss from unconsolidated investments, net | $ (10.5) | $ (6.5) |
WPL [Member] | ||
Schedule of Investments [Line Items] | ||
Equity (income) loss from unconsolidated investments, net | (10.7) | (7.8) |
ATC [Member] | ||
Schedule of Investments [Line Items] | ||
Equity (income) loss from unconsolidated investments, net | (10.7) | (7.8) |
ATC [Member] | WPL [Member] | ||
Schedule of Investments [Line Items] | ||
Equity (income) loss from unconsolidated investments, net | (10.7) | (7.8) |
Other [Member] | ||
Schedule of Investments [Line Items] | ||
Equity (income) loss from unconsolidated investments, net | 0.2 | 1.3 |
Other [Member] | WPL [Member] | ||
Schedule of Investments [Line Items] | ||
Equity (income) loss from unconsolidated investments, net | $ 0 | $ 0 |
Common Equity (Narrative) (Deta
Common Equity (Narrative) (Details) $ in Millions | 3 Months Ended | ||||
Mar. 31, 2016USD ($)shares | Mar. 31, 2015USD ($) | May. 19, 2016shares | Apr. 20, 2016shares | Dec. 31, 2015shares | |
Common Equity [Line Items] | |||||
Common stock split conversion ratio (2:1) | 2 | ||||
Common stock, shares authorized (in shares) | shares | 240,000,000 | 240,000,000 | |||
Common stock, shares outstanding (in shares) | shares | 113,562,651 | 113,459,216 | |||
Other comprehensive income | $ 0 | $ 0 | |||
IPL [Member] | |||||
Common Equity [Line Items] | |||||
Common stock, shares authorized (in shares) | shares | 24,000,000 | 24,000,000 | |||
Common stock, shares outstanding (in shares) | shares | 13,370,788 | 13,370,788 | |||
Retained earnings free of dividend restrictions | $ 562 | ||||
Restricted net assets of subsidiaries | 1,500 | ||||
Capital contributions from parent | 40 | 0 | |||
Common stock dividends to parent | 38.1 | ||||
Other comprehensive income | $ 0 | 0 | |||
WPL [Member] | |||||
Common Equity [Line Items] | |||||
Common stock, shares authorized (in shares) | shares | 18,000,000 | 18,000,000 | |||
Common stock, shares outstanding (in shares) | shares | 13,236,601 | 13,236,601 | |||
Retained earnings free of dividend restrictions | $ 101 | ||||
Restricted net assets of subsidiaries | 1,700 | ||||
Common stock dividends to parent | 33.8 | ||||
Other comprehensive income | $ 0 | $ 0 | |||
Subsequent Event [Member] | |||||
Common Equity [Line Items] | |||||
Common stock, shares authorized (in shares) | shares | 480,000,000 | ||||
Scenario, Forecast [Member] | |||||
Common Equity [Line Items] | |||||
Common stock, shares outstanding (in shares) | shares | 227,000,000 |
Common Equity (Common Share Act
Common Equity (Common Share Activity) (Details) | 3 Months Ended |
Mar. 31, 2016shares | |
Common Stock Oustanding [Roll Forward] | |
Shares outstanding, January 1, 2016 (in shares) | 113,459,216 |
Shareowner Direct Plan issuances (in shares) | 92,231 |
Equity-based compensation plans (in shares) | 11,204 |
Shares outstanding, March 31, 2016 (in shares) | 113,562,651 |
Common Equity (Common Stock Spl
Common Equity (Common Stock Split Pro Forma) (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Common Equity [Line Items] | ||
Net income (in dollars per share) | $ 0.85 | $ 0.87 |
Pro Forma [Member] | ||
Common Equity [Line Items] | ||
Net income (in dollars per share) | $ 0.43 | $ 0.43 |
Debt (Credit Facilities) (Detai
Debt (Credit Facilities) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Commercial paper: | ||
Amount outstanding | $ 213.4 | $ 159.8 |
Weighted average remaining maturity (in days) | 2 days | |
Weighted average interest rates | 0.60% | |
Available credit facility capacity | $ 786.6 | |
Parent Company [Member] | ||
Commercial paper: | ||
Amount outstanding | $ 187.9 | |
Weighted average remaining maturity (in days) | 2 days | |
Weighted average interest rates | 0.60% | |
Available credit facility capacity | $ 112.1 | |
IPL [Member] | ||
Commercial paper: | ||
Amount outstanding | 0 | |
Available credit facility capacity | 300 | |
WPL [Member] | ||
Commercial paper: | ||
Amount outstanding | $ 25.5 | $ 19.9 |
Weighted average remaining maturity (in days) | 1 day | |
Weighted average interest rates | 0.40% | |
Available credit facility capacity | $ 374.5 |
Debt (Other Short-Term Borrowin
Debt (Other Short-Term Borrowings) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Debt [Line Items] | ||
Maximum amount outstanding (based on daily outstanding balances) | $ 242.6 | $ 151.3 |
Average amount outstanding (based on daily outstanding balances) | $ 199 | $ 127.9 |
Weighted average interest rates | 0.60% | 0.40% |
IPL [Member] | ||
Debt [Line Items] | ||
Maximum amount outstanding (based on daily outstanding balances) | $ 0 | $ 1.4 |
Average amount outstanding (based on daily outstanding balances) | 0 | $ 0 |
Weighted average interest rates | 0.40% | |
WPL [Member] | ||
Debt [Line Items] | ||
Maximum amount outstanding (based on daily outstanding balances) | 55.7 | $ 0 |
Average amount outstanding (based on daily outstanding balances) | $ 25.8 | $ 0 |
Weighted average interest rates | 0.40% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Income Taxes [Line Items] | |
Increase (decrease) non-current deferred tax liabilities | $ 43.4 |
IPL [Member] | |
Income Taxes [Line Items] | |
Increase (decrease) non-current deferred tax liabilities | 30.9 |
WPL [Member] | |
Income Taxes [Line Items] | |
Increase (decrease) non-current deferred tax liabilities | $ 19.7 |
Income Taxes (Schedule Of Effec
Income Taxes (Schedule Of Effective Income Tax Rates) (Details) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Effective Tax Rate [Line Items] | ||
Statutory federal income tax rate | 35.00% | 35.00% |
IPL's tax benefit riders | (8.70%) | (9.90%) |
Effect of rate-making on property-related differences | (6.80%) | (6.10%) |
Production tax credits | (6.30%) | (6.20%) |
Other items, net | 4.50% | 4.30% |
Overall income tax rate | 17.70% | 17.10% |
IPL [Member] | ||
Effective Tax Rate [Line Items] | ||
Statutory federal income tax rate | 35.00% | 35.00% |
IPL's tax benefit riders | (20.70%) | (25.20%) |
Effect of rate-making on property-related differences | (15.20%) | (14.60%) |
Production tax credits | (6.70%) | (7.10%) |
Other items, net | 5.90% | 4.80% |
Overall income tax rate | (1.70%) | (7.10%) |
WPL [Member] | ||
Effective Tax Rate [Line Items] | ||
Statutory federal income tax rate | 35.00% | 35.00% |
Effect of rate-making on property-related differences | (0.80%) | (0.60%) |
Production tax credits | (6.50%) | (6.20%) |
Other items, net | 4.80% | 4.40% |
Overall income tax rate | 32.50% | 32.60% |
Income Taxes (Summary Of Tax Cr
Income Taxes (Summary Of Tax Credit Carryforwards) (Details) $ in Millions | Mar. 31, 2016USD ($) |
Carryforwards [Line Items] | |
Net operating losses, deferred tax assets | $ 537 |
IPL [Member] | |
Carryforwards [Line Items] | |
Net operating losses, deferred tax assets | 198 |
WPL [Member] | |
Carryforwards [Line Items] | |
Net operating losses, deferred tax assets | 207 |
Federal [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 733 |
Net operating losses, deferred tax assets | 252 |
Tax credits, carryforward amount | 250 |
Tax credits, deferred tax assets | 246 |
Federal [Member] | IPL [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 330 |
Net operating losses, deferred tax assets | 111 |
Tax credits, carryforward amount | 89 |
Tax credits, deferred tax assets | 86 |
Federal [Member] | WPL [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 298 |
Net operating losses, deferred tax assets | 104 |
Tax credits, carryforward amount | 101 |
Tax credits, deferred tax assets | 101 |
State [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 748 |
Net operating losses, deferred tax assets | 39 |
State [Member] | IPL [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 20 |
Net operating losses, deferred tax assets | 1 |
State [Member] | WPL [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 47 |
Net operating losses, deferred tax assets | $ 2 |
Benefit Plans (Narrative) (Deta
Benefit Plans (Narrative) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($)shares | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost | $ | $ 12.9 |
Minimum [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost recognized over a weighted average period | 1 year |
Maximum [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost recognized over a weighted average period | 2 years |
Restricted Stock Units [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Performance period | 3 years |
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% |
Performance Units [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Instrument valuation based on shares of common stock, number of shares | 1 |
Performance Restricted Stock Unit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Instrument valuation based on shares of common stock, number of shares | 1 |
Performance Restricted Unit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Instrument valuation based on shares of common stock, number of shares | 1 |
Key Employee Performance Restricted Unit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Instrument valuation based on shares of common stock, number of shares | 1 |
Benefit Plans (Defined Benefit
Benefit Plans (Defined Benefit Pension And Other Postretirement Benefits Plans) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Defined benefit pension plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 3.2 | $ 4 |
Interest cost | 13.3 | 13.4 |
Expected return on plan assets | (16.4) | (18.7) |
Amortization of prior service cost (credit) | (0.1) | (0.1) |
Amortization of actuarial loss | 9.3 | 8.8 |
Additional benefit costs | 0 | 0.2 |
Total | 9.3 | 7.6 |
OPEB Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1.3 | 1.4 |
Interest cost | 2.3 | 2.2 |
Expected return on plan assets | (1.5) | (2.1) |
Amortization of prior service cost (credit) | (1) | (2.8) |
Amortization of actuarial loss | 1.2 | 1.2 |
Additional benefit costs | 0 | 0 |
Total | 2.3 | (0.1) |
IPL [Member] | Defined benefit pension plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1.9 | 2.2 |
Interest cost | 6.1 | 6.2 |
Expected return on plan assets | (7.7) | (8.9) |
Amortization of prior service cost (credit) | 0 | 0 |
Amortization of actuarial loss | 4.1 | 3.8 |
Total | 4.4 | 3.3 |
IPL [Member] | OPEB Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 0.6 | 0.6 |
Interest cost | 1 | 0.9 |
Expected return on plan assets | (1) | (1.4) |
Amortization of prior service cost (credit) | (0.7) | (1.5) |
Amortization of actuarial loss | 0.6 | 0.6 |
Total | 0.5 | (0.8) |
WPL [Member] | Defined benefit pension plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1.2 | 1.4 |
Interest cost | 5.6 | 5.6 |
Expected return on plan assets | (7.1) | (8.1) |
Amortization of prior service cost (credit) | 0.1 | 0.1 |
Amortization of actuarial loss | 4.4 | 4.2 |
Additional benefit costs | 0 | 0.2 |
Total | 4.2 | 3.4 |
WPL [Member] | OPEB Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 0.5 | 0.6 |
Interest cost | 0.9 | 0.9 |
Expected return on plan assets | (0.2) | (0.4) |
Amortization of prior service cost (credit) | (0.2) | (0.9) |
Amortization of actuarial loss | 0.5 | 0.6 |
Additional benefit costs | 0 | 0 |
Total | $ 1.5 | $ 0.8 |
Benefit Plans (Defined Contribu
Benefit Plans (Defined Contribution Retirement Plans) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
401(k) costs | $ 6.2 | $ 6.7 |
IPL [Member] | ||
401(k) costs | 3.1 | 3.4 |
WPL [Member] | ||
401(k) costs | $ 2.8 | $ 2.9 |
Benefit Plans (Recognized Compe
Benefit Plans (Recognized Compensation Expense And Income Tax Benefits) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Compensation expense | $ 5.3 | $ 3.2 |
Income tax benefits | 2.2 | 1.3 |
IPL [Member] | ||
Compensation expense | 2.8 | 1.7 |
Income tax benefits | 1.1 | 0.7 |
WPL [Member] | ||
Compensation expense | 2.3 | 1.4 |
Income tax benefits | $ 0.9 | $ 0.6 |
Benefit Plans (Summary Of Perfo
Benefit Plans (Summary Of Performance Shares and Performance Units Activity) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Performance Shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||
Nonvested, January 1 (in shares/awards) | 144,215 | 144,424 |
Granted (in shares/awards) | 33,776 | 45,403 |
Vested (in shares/awards) | (49,093) | (45,612) |
Forfeited (in shares/awards) | (615) | 0 |
Nonvested, March 31 (in shares/awards) | 128,283 | 144,215 |
Performance Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||
Nonvested, January 1 (in shares/awards) | 58,206 | 63,665 |
Granted (in shares/awards) | 11,959 | 17,837 |
Vested (in shares/awards) | (21,380) | (22,845) |
Forfeited (in shares/awards) | (382) | (93) |
Nonvested, March 31 (in shares/awards) | 48,403 | 58,564 |
2013 Grant [Member] | Performance Shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||
Vested (in shares/awards) | (49,093) | |
Vested percentage of the target | 165.00% | |
Aggregate payout value | $ 5.1 | |
Payout - cash | $ 2.9 | |
Payout - common stock shares issued (in shares) | 11,204 | |
2013 Grant [Member] | Performance Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||
Vested (in shares/awards) | (21,380) | |
Vested percentage of the target | 165.00% | |
Aggregate payout value | $ 1.7 | |
Payout - cash | $ 1.7 | |
2012 Grant [Member] | Performance Shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||
Vested (in shares/awards) | (45,612) | |
Vested percentage of the target | 167.50% | |
Aggregate payout value | $ 5.1 | |
Payout - cash | $ 3.2 | |
Payout - common stock shares issued (in shares) | 10,975 | |
2012 Grant [Member] | Performance Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ||
Vested (in shares/awards) | (22,845) | |
Vested percentage of the target | 167.50% | |
Aggregate payout value | $ 1.6 | |
Payout - cash | $ 1.6 |
Benefit Plans (Fair Values Of N
Benefit Plans (Fair Values Of Nonvested Performance Shares And Units) (Details) - $ / shares | 3 Months Ended | |||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
Performance Shares [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Nonvested awards (in shares/awards) | 128,283 | 144,215 | 144,215 | 144,424 |
Performance Units [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Nonvested awards (in shares/awards) | 48,403 | 58,206 | 58,564 | 63,665 |
2016 Grant [Member] | Performance Shares [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Nonvested awards (in shares/awards) | 33,161 | |||
Alliant Energy common stock closing price on March 31, 2016 (in dollars per share) | $ 74.28 | |||
Estimated payout percentage based on performance criteria | 108.00% | |||
Fair values of each nonvested award (in dollars per share) | $ 80.22 | |||
2016 Grant [Member] | Performance Units [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Nonvested awards (in shares/awards) | 11,959 | |||
Alliant Energy common stock closing price on March 31, 2016 (in dollars per share) | $ 74.28 | |||
Estimated payout percentage based on performance criteria | 108.00% | |||
Fair values of each nonvested award (in dollars per share) | $ 80.22 | |||
2015 Grant [Member] | Performance Shares [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Nonvested awards (in shares/awards) | 45,403 | |||
Alliant Energy common stock closing price on March 31, 2016 (in dollars per share) | $ 74.28 | |||
Estimated payout percentage based on performance criteria | 90.00% | |||
Fair values of each nonvested award (in dollars per share) | $ 66.85 | |||
2015 Grant [Member] | Performance Units [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Nonvested awards (in shares/awards) | 17,209 | |||
Alliant Energy common stock closing price on grant date (in dollars per share) | $ 65.09 | |||
Estimated payout percentage based on performance criteria | 90.00% | |||
Fair values of each nonvested award (in dollars per share) | $ 58.58 | |||
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 March 31, 2016 (in dollars per share) | $ 74.28 | |||
Estimated payout percentage based on performance criteria | 138.00% | |||
Fair values of each nonvested award (in dollars per share) | $ 102.51 | |||
2014 Grant [Member] | Performance Units [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Nonvested awards (in shares/awards) | 19,235 | |||
Alliant Energy common stock closing price on grant date (in dollars per share) | $ 53.77 | |||
Estimated payout percentage based on performance criteria | 138.00% | |||
Fair values of each nonvested award (in dollars per share) | $ 74.20 |
Benefit Plans (Summary Of Restr
Benefit Plans (Summary Of Restricted Stock Activity) (Details) - $ / shares | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Performance Contingent Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Nonvested, January 1 (in shares/awards) | 95,122 | 98,812 | |
Nonvested, January 1, weighted average grant date fair value (in dollars per share) | $ 59.17 | $ 50.69 | |
Granted (in shares/awards) | 0 | 45,403 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 65.09 | |
Vested (in shares/awards) | [1] | 0 | (49,093) |
Vested, weighted average fair value (in dollars per share) | [1] | $ 0 | $ 47.58 |
Nonvested, March 31 (in shares/awards) | 95,122 | 95,122 | |
Nonvested, March 31, weighted average grant date fair value (in dollars per share) | $ 59.17 | $ 59.17 | |
Performance Restricted Stock Unit [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Granted (in shares/awards) | 33,776 | ||
Granted, weighted average grant date fair value (in dollars per share) | $ 67.85 | ||
Forfeited (in shares/awards) | (615) | ||
Forfeited, weighted average grant date fair value (in dollars per share) | $ 67.80 | ||
Nonvested, March 31 (in shares/awards) | 33,161 | ||
Nonvested, March 31, weighted average grant date fair value (in dollars per share) | $ 67.85 | ||
Performance Restricted Unit [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Granted (in shares/awards) | 11,959 | ||
Nonvested, March 31 (in shares/awards) | 11,959 | ||
Key Employee Performance Restricted Unit [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Granted (in shares/awards) | 22,528 | ||
Granted, weighted average grant date fair value (in dollars per share) | $ 67.80 | ||
Nonvested, March 31 (in shares/awards) | 22,528 | ||
Nonvested, March 31, weighted average grant date fair value (in dollars per share) | $ 67.80 | ||
Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Granted (in shares/awards) | 28,952 | ||
Forfeited (in shares/awards) | (527) | ||
Nonvested, March 31 (in shares/awards) | 28,425 | ||
Restricted Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Granted (in shares/awards) | 10,251 | ||
Forfeited (in shares/awards) | 0 | ||
Nonvested, March 31 (in shares/awards) | 10,251 | ||
2013 Grant [Member] | Performance Contingent Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Vested (in shares/awards) | [1] | (49,093) | |
[1] | In 2015, 49,093 performance contingent restricted shares granted in 2013 vested because the specified performance criteria for such shares were met. |
Benefit Plans (Summary Of Per63
Benefit Plans (Summary Of Performance Contingent Cash Awards Activity) (Details) - Performance Contingent Cash Awards [Member] - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Nonvested, January 1 (in shares/awards) | 81,876 | 78,930 | |
Granted (in shares/awards) | 0 | 41,105 | |
Vested (in shares/awards) | [1] | 0 | (37,332) |
Forfeited (in shares/awards) | (382) | (469) | |
Nonvested, March 31 (in shares/awards) | 81,494 | 82,234 | |
2013 Grant [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Vested (in shares/awards) | [1] | (37,332) | |
Cash payout value | [1] | $ 2.4 | |
[1] | In 2015, 37,332 performance-contingent cash awards granted in 2013 vested, resulting in cash payouts valued at $2.4 million. |
Asset Retirement Obligations (R
Asset Retirement Obligations (Reconciliation Of Changes In Asset Retirement Obligations) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Balance, January 1 | $ 214 | $ 114 |
Revisions in estimated cash flows | 0.5 | 0 |
Liabilities settled | (2.7) | (2.2) |
Liabilities incurred | 0.7 | 0 |
Accretion expense | 1.6 | 1 |
Balance, March 31 | 214.1 | 112.8 |
IPL [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Balance, January 1 | 132.9 | 51.8 |
Revisions in estimated cash flows | 0.5 | 0 |
Liabilities settled | (0.7) | (2.2) |
Liabilities incurred | 0.7 | 0 |
Accretion expense | 0.9 | 0.4 |
Balance, March 31 | 134.3 | 50 |
WPL [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Balance, January 1 | 71.9 | 52.4 |
Revisions in estimated cash flows | 0 | 0 |
Liabilities settled | (2) | 0 |
Liabilities incurred | 0 | 0 |
Accretion expense | 0.6 | 0.4 |
Balance, March 31 | $ 70.5 | $ 52.8 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2016 | |
IPL [Member] | |
Cumulative preferred stock rate | 5.10% |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurements) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Level 1 [Member] | ||
Assets: | ||
Deferred proceeds | $ 0 | $ 0 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 0 | 0 |
Cumulative preferred stock of IPL | 208.3 | 206.6 |
Level 1 [Member] | IPL [Member] | ||
Assets: | ||
Deferred proceeds | 0 | 0 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 0 | 0 |
Cumulative preferred stock of IPL | 208.3 | 206.6 |
Level 1 [Member] | WPL [Member] | ||
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 0 | 0 |
Level 1 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 0 | 0 |
Liabilities and Equity: | ||
Derivatives | 0 | 0 |
Level 1 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 0 | 0 |
Liabilities and Equity: | ||
Derivatives | 0 | 0 |
Level 1 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 0 | 0 |
Liabilities and Equity: | ||
Derivatives | 0 | 0 |
Level 2 [Member] | ||
Assets: | ||
Deferred proceeds | 0 | 0 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 4,452.3 | 4,332.4 |
Cumulative preferred stock of IPL | 0 | 0 |
Level 2 [Member] | IPL [Member] | ||
Assets: | ||
Deferred proceeds | 0 | 0 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 2,147.2 | 2,092.7 |
Cumulative preferred stock of IPL | 0 | 0 |
Level 2 [Member] | WPL [Member] | ||
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 1,854.3 | 1,793 |
Level 2 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 1.2 | 2.5 |
Liabilities and Equity: | ||
Derivatives | 11.6 | 16 |
Level 2 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 1.1 | 2 |
Liabilities and Equity: | ||
Derivatives | 5.5 | 8 |
Level 2 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 0.1 | 0.5 |
Liabilities and Equity: | ||
Derivatives | 6.1 | 8 |
Level 3 [Member] | ||
Assets: | ||
Deferred proceeds | 154.2 | 172 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 3.3 | 3.7 |
Cumulative preferred stock of IPL | 0 | 0 |
Level 3 [Member] | IPL [Member] | ||
Assets: | ||
Deferred proceeds | 154.2 | 172 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 0 | 0 |
Cumulative preferred stock of IPL | 0 | 0 |
Level 3 [Member] | WPL [Member] | ||
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 0 | 0 |
Level 3 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 6.5 | 15.9 |
Liabilities and Equity: | ||
Derivatives | 72.4 | 48.6 |
Level 3 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 4.7 | 13.5 |
Liabilities and Equity: | ||
Derivatives | 17.8 | 15.4 |
Level 3 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 1.8 | 2.4 |
Liabilities and Equity: | ||
Derivatives | 54.6 | 33.2 |
Carrying Value [Member] | ||
Assets: | ||
Deferred proceeds | 154.2 | 172 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 3,836.1 | 3,835.6 |
Cumulative preferred stock of IPL | 200 | 200 |
Carrying Value [Member] | IPL [Member] | ||
Assets: | ||
Deferred proceeds | 154.2 | 172 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 1,857.4 | 1,856.9 |
Cumulative preferred stock of IPL | 200 | 200 |
Carrying Value [Member] | WPL [Member] | ||
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 1,534.2 | 1,533.9 |
Carrying Value [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 7.7 | 18.4 |
Liabilities and Equity: | ||
Derivatives | 84 | 64.6 |
Carrying Value [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 5.8 | 15.5 |
Liabilities and Equity: | ||
Derivatives | 23.3 | 23.4 |
Carrying Value [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 1.9 | 2.9 |
Liabilities and Equity: | ||
Derivatives | 60.7 | 41.2 |
Fair Value [Member] | ||
Assets: | ||
Deferred proceeds | 154.2 | 172 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 4,455.6 | 4,336.1 |
Cumulative preferred stock of IPL | 208.3 | 206.6 |
Fair Value [Member] | IPL [Member] | ||
Assets: | ||
Deferred proceeds | 154.2 | 172 |
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 2,147.2 | 2,092.7 |
Cumulative preferred stock of IPL | 208.3 | 206.6 |
Fair Value [Member] | WPL [Member] | ||
Liabilities and Equity: | ||
Long-term debt (including current maturities) | 1,854.3 | 1,793 |
Fair Value [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 7.7 | 18.4 |
Liabilities and Equity: | ||
Derivatives | 84 | 64.6 |
Fair Value [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 5.8 | 15.5 |
Liabilities and Equity: | ||
Derivatives | 23.3 | 23.4 |
Fair Value [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 1.9 | 2.9 |
Liabilities and Equity: | ||
Derivatives | $ 60.7 | $ 41.2 |
Fair Value Measurements (Fair67
Fair Value Measurements (Fair Value Measurements Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Commodity Contracts [Member] | |||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ (32.7) | $ 17.9 | |
Total net losses included in changes in net assets (realized/unrealized) | (31.4) | (18.1) | |
Transfers into Level 3 | 0.9 | 0 | |
Sales | (0.6) | (0.9) | |
Settlements | [1] | (2.1) | (12) |
Ending balance | (65.9) | (13.1) | |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | (30) | (16.5) | |
Commodity Contracts [Member] | IPL [Member] | |||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | (1.9) | 19.4 | |
Total net losses included in changes in net assets (realized/unrealized) | (7.6) | (12.5) | |
Transfers into Level 3 | 0.5 | 0 | |
Sales | (0.6) | (0.9) | |
Settlements | [1] | (3.5) | (11) |
Ending balance | (13.1) | (5) | |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | (6.6) | (10.7) | |
Commodity Contracts [Member] | WPL [Member] | |||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | (30.8) | (1.5) | |
Total net losses included in changes in net assets (realized/unrealized) | (23.8) | (5.6) | |
Transfers into Level 3 | 0.4 | 0 | |
Settlements | 1.4 | (1) | |
Ending balance | (52.8) | (8.1) | |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | (23.4) | (5.8) | |
Deferred Proceeds [Member] | |||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 172 | 177.2 | |
Total net losses included in changes in net assets (realized/unrealized) | 0 | 0 | |
Transfers into Level 3 | 0 | 0 | |
Sales | 0 | 0 | |
Settlements | [1] | (17.8) | (59.5) |
Ending balance | 154.2 | 117.7 | |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 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 | 172 | 177.2 | |
Total net losses included in changes in net assets (realized/unrealized) | 0 | 0 | |
Transfers into Level 3 | 0 | 0 | |
Sales | 0 | 0 | |
Settlements | [1] | (17.8) | (59.5) |
Ending balance | 154.2 | 117.7 | |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | $ 0 | $ 0 | |
[1] | 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 (Fair68
Fair Value Measurements (Fair Value Of Net Derivative Assets (Liabilities)) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | $ (65.9) | $ (32.7) | $ (13.1) | $ 17.9 |
Excluding Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative liabilities | (67.9) | (43.1) | ||
Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | 2 | 10.4 | ||
IPL [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | (13.1) | (1.9) | (5) | 19.4 |
IPL [Member] | Excluding Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative liabilities | (15) | (12.3) | ||
IPL [Member] | Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | 1.9 | 10.4 | ||
WPL [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | (52.8) | (30.8) | $ (8.1) | $ (1.5) |
WPL [Member] | Excluding Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative liabilities | (52.9) | (30.8) | ||
WPL [Member] | Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | $ 0.1 | $ 0 |
Derivative Instruments (Notiona
Derivative Instruments (Notional Amounts Of Derivative Instruments) (Details) - Commodity [Member] gal in Thousands, T in Thousands, MWh in Thousands, Dekatherms in Thousands | 3 Months Ended |
Mar. 31, 2016DekathermsMWhTgal | |
Electricity (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 5,115 |
Electricity (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 660 |
Electricity (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 4,455 |
FTRs (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 3,768 |
FTRs (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 2,232 |
FTRs (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 1,536 |
Natural Gas (Dths) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Dths) | Dekatherms | 94,635 |
Natural Gas (Dths) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Dths) | Dekatherms | 49,747 |
Natural Gas (Dths) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Dths) | Dekatherms | 44,888 |
Coal (Tons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Tons) | T | 4,240 |
Coal (Tons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Tons) | T | 1,661 |
Coal (Tons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Tons) | T | 2,579 |
Diesel Fuel (Gallons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Gallons) | gal | 5,292 |
Diesel Fuel (Gallons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Gallons) | gal | 0 |
Diesel Fuel (Gallons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Gallons) | gal | 5,292 |
Derivative Instruments (Fair Va
Derivative Instruments (Fair Value Of Financial Instruments) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | $ 6.1 | $ 15.1 |
Non-current derivative assets | 1.6 | 3.3 |
Current derivative liabilities | 56.3 | 47.3 |
Non-current derivative liabilities | 27.7 | 17.3 |
IPL [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | 4.8 | 13.8 |
Non-current derivative assets | 1 | 1.7 |
Current derivative liabilities | 18.7 | 18.5 |
Non-current derivative liabilities | 4.6 | 4.9 |
WPL [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | 1.3 | 1.3 |
Non-current derivative assets | 0.6 | 1.6 |
Current derivative liabilities | 37.6 | 28.8 |
Non-current derivative liabilities | $ 23.1 | $ 12.4 |
Commitments And Contingencies71
Commitments And Contingencies (Narrative) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($)site | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | $ 2,213 |
Performance guarantees outstanding | 123 |
Present value abandonment obligation | 29 |
Maximum indemnification limit | 17 |
IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | $ 1,731 |
Number of sites monitoring and remediating (in sites) | site | 24 |
WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | $ 465 |
Number of sites monitoring and remediating (in sites) | site | 5 |
Capital Purchase Obligation [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | $ 30 |
Capital Purchase Obligation [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 15 |
Capital Purchase Obligation [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 15 |
Performance guarantees outstanding, 2016 [Member] | |
Commitments and Contingencies [Line Items] | |
Performance guarantees outstanding | 48 |
Performance guarantees outstanding, 2017 [Member] | |
Commitments and Contingencies [Line Items] | |
Performance guarantees outstanding | 75 |
Environmental Issue [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Environmental mitigation projects to be completed, value | 6 |
Environmental Issue [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Environmental mitigation projects to be completed, value | $ 7 |
Minimum [Member] | |
Commitments and Contingencies [Line Items] | |
Warranty period | 12 months |
Maximum [Member] | |
Commitments and Contingencies [Line Items] | |
Warranty period | 60 months |
Commitments And Contingencies72
Commitments And Contingencies (Operating Expense Purchase Obligations) (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2016USD ($) | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | $ 2,213 | |
Individual commitments incurred | 1 | |
IPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 1,731 | |
Individual commitments incurred | 1 | |
WPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 465 | |
Individual commitments incurred | 1 | |
DAEC (IPL) [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 1,390 | [1] |
DAEC (IPL) [Member] | IPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 1,390 | [1] |
DAEC (IPL) [Member] | WPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 0 | [1] |
Other [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 145 | [1] |
Other [Member] | IPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 1 | [1] |
Other [Member] | WPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 144 | [1] |
Purchased Power [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 1,535 | [1] |
Purchased Power [Member] | IPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 1,391 | [1] |
Purchased Power [Member] | WPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 144 | [1] |
Natural Gas [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 408 | |
Natural Gas [Member] | IPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 225 | |
Natural Gas [Member] | WPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 183 | |
Coal [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 238 | [2] |
Coal [Member] | IPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 102 | [2] |
Coal [Member] | WPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 136 | [2] |
SO2 emission allowances [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 8 | |
SO2 emission allowances [Member] | IPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 8 | |
SO2 emission allowances [Member] | WPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 0 | |
Other [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 24 | [3] |
Other [Member] | IPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | 5 | [3] |
Other [Member] | WPL [Member] | ||
Commitments and Contingencies [Line Items] | ||
Minimum future commitments | $ 2 | [3] |
[1] | Includes payments required by purchased power agreements for capacity rights and minimum quantities of MWhs required to be purchased. | |
[2] | Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of March 31, 2016 regarding expected future usage, which is subject to change. | |
[3] | Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2016. |
Commitments And Contingencies73
Commitments And Contingencies (MPG Site Estimated Future Costs And Recorded Liabilities) (Details) - Manufactured Gas Plant Sites [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Commitments and Contingencies [Line Items] | |
Minimum range of estimated future costs | $ 12 |
Maximum range of estimated future costs | 28 |
Current and non-current environmental liabilities | 16 |
IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum range of estimated future costs | 10 |
Maximum range of estimated future costs | 24 |
Current and non-current environmental liabilities | 13 |
WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum range of estimated future costs | 2 |
Maximum range of estimated future costs | 4 |
Current and non-current environmental liabilities | $ 3 |
Segments Of Business (Schedule
Segments Of Business (Schedule Of Segments Of Business) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Segment Reporting Information [Line Items] | ||
Operating revenues | $ 843.8 | $ 897.4 |
Operating income (loss) | 145.9 | 152.9 |
Income (loss) from continuing operations, net of tax | 97.6 | 96.6 |
Loss from discontinued operations, net of tax | (1.1) | 0 |
Net income (loss) attributable to common shareowners | 96.5 | 96.6 |
IPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 458.7 | 489 |
Operating income (loss) | 62 | 65.5 |
Net income (loss) attributable to common shareowners | 45.6 | 47.5 |
WPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 375.6 | 397.1 |
Operating income (loss) | 78.8 | 80.8 |
Net income (loss) attributable to common shareowners | 46.5 | 44.9 |
Electric [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 668.9 | 671.3 |
Operating income (loss) | 109.8 | 104.7 |
Electric [Member] | IPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 361.6 | 362.6 |
Operating income (loss) | 43.4 | 40.3 |
Electric [Member] | WPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 307.3 | 308.7 |
Operating income (loss) | 66.4 | 64.4 |
Gas [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 152.2 | 198.4 |
Operating income (loss) | 28.8 | 36.3 |
Gas [Member] | IPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 84.2 | 111.2 |
Operating income (loss) | 15.8 | 20.6 |
Gas [Member] | WPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 68 | 87.2 |
Operating income (loss) | 13 | 15.7 |
Other Utilities [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 13.2 | 16.4 |
Operating income (loss) | 2.2 | 5.3 |
Other Utilities [Member] | IPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 12.9 | 15.2 |
Operating income (loss) | 2.8 | 4.6 |
Other Utilities [Member] | WPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 0.3 | 1.2 |
Operating income (loss) | (0.6) | 0.7 |
Utilities Business [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 834.3 | 886.1 |
Operating income (loss) | 140.8 | 146.3 |
Income (loss) from continuing operations, net of tax | 92.1 | |
Loss from discontinued operations, net of tax | 0 | |
Net income (loss) attributable to common shareowners | 92.1 | 92.4 |
Non-Regulated [Member] | Other Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Operating revenues | 9.5 | 11.3 |
Operating income (loss) | 5.1 | 6.6 |
Income (loss) from continuing operations, net of tax | 5.5 | |
Loss from discontinued operations, net of tax | (1.1) | |
Net income (loss) attributable to common shareowners | $ 4.4 | $ 4.2 |
Related Parties (Narrative) (De
Related Parties (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts due from (to) related party | $ (100) | $ (93) |
WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts due from (to) related party | (59) | (54) |
WPL [Member] | WPL Owed ATC [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts due from (to) related party | $ (8) | $ (8) |
Related Parties (Service Agreem
Related Parties (Service Agreements) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Corporate Services Billings [Member] | IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | $ 38 | $ 36 |
Corporate Services Billings [Member] | WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | 33 | 28 |
Sales Credited [Member] | IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | 1 | 4 |
Sales Credited [Member] | WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | 1 | 6 |
Purchases Billed [Member] | IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | 96 | 79 |
Purchases Billed [Member] | WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | $ 19 | $ 14 |
Related Parties (Net Intercompa
Related Parties (Net Intercompany Payables) (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts due from (to) related party | $ (100) | $ (93) |
WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts due from (to) related party | $ (59) | $ (54) |
Related Parties (Amounts Billed
Related Parties (Amounts Billed Between Parties) (Details) - WPL [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
ATC Billings To WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | $ 27 | $ 25 |
WPL Billings To ATC [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | $ 3 | $ 2 |
Discontinued Operations (Compon
Discontinued Operations (Components Of Discontinued Operations In Consolidated Statements Of Income (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | ||
Operating expenses | $ 1.9 | |
Loss before income taxes | (1.9) | |
Income tax benefit | (0.8) | |
Loss from discontinued operations, net of tax | $ (1.1) | $ 0 |