Commission
|
Name of Registrant,
State of Incorporation,
|
IRS
Employer
|
File
Number
|
Address of Principal
Executive Offices and Telephone Number
|
Identification
Number
|
1-9894
|
ALLIANT ENERGY
CORPORATION
|
39-1380265
|
(a
Wisconsin corporation)
|
||
4902 N. Biltmore
Lane
|
||
Madison, Wisconsin
53718
|
||
Telephone
(608)458-3311
|
||
0-4117-1
|
INTERSTATE POWER AND
LIGHT COMPANY
|
42-0331370
|
(an
Iowa corporation)
|
||
Alliant Energy
Tower
|
||
Cedar Rapids, Iowa
52401
|
||
Telephone
(319)786-4411
|
||
0-337
|
WISCONSIN POWER AND
LIGHT COMPANY
|
39-0714890
|
(a
Wisconsin corporation)
|
||
4902 N. Biltmore
Lane
|
||
Madison, Wisconsin
53718
|
||
Telephone
(608)458-3311
|
Name of Each
Exchange
|
||
Title of
Class
|
on Which
Registered
|
|
Alliant Energy
Corporation
|
Common Stock, $0.01
Par Value
|
New
York Stock Exchange
|
Alliant Energy
Corporation
|
Common Share
Purchase Rights
|
New
York Stock Exchange
|
Interstate Power and
Light Company
|
8.375% Series B
Cumulative Preferred Stock,
|
New
York Stock Exchange
|
$0.01 Par
Value
|
||
Interstate Power and
Light Company
|
7.10% Series C
Cumulative Preferred Stock,
|
New
York Stock Exchange
|
$0.01 Par
Value
|
||
Wisconsin Power and
Light Company
|
4.50% Preferred
Stock, No Par Value
|
NYSE Amex
LLC
|
Alliant Energy
Corporation
|
Yes
[X]
|
No
[ ]
|
Interstate Power and
Light Company
|
Yes
[ ]
|
No
[X]
|
Wisconsin Power and
Light Company
|
Yes
[ ]
|
No
[X]
|
Smaller
|
||||
Large
|
Reporting
|
|||
Accelerated
|
Accelerated
|
Non-accelerated
|
Company
|
|
Filer
|
Filer
|
Filer
|
Filer
|
|
Alliant Energy
Corporation
|
[X]
|
|||
Interstate Power and
Light Company
|
[X]
|
|||
Wisconsin Power and
Light Company
|
[X]
|
Alliant Energy
Corporation
|
$2.9
billion
|
|||
Interstate Power and
Light Company
|
$ | -- | ||
Wisconsin Power and
Light Company
|
$ | -- |
Alliant Energy
Corporation
|
Common stock, $0.01
par value, 110,668,977 shares outstanding
|
Interstate Power and
Light Company
|
Common stock, $2.50
par value, 13,370,788 shares outstanding (all of which
|
are
owned beneficially and of record by Alliant Energy
Corporation)
|
|
Wisconsin Power and
Light Company
|
Common stock, $5 par
value, 13,236,601 shares outstanding (all of which
|
are
owned beneficially and of record by Alliant Energy
Corporation)
|
Page
Number
|
|||
1
|
|||
2
|
|||
Part
I
|
Item
1.
|
2
|
|
2
|
|||
3
|
|||
4
|
|||
7
|
|||
17
|
|||
21
|
|||
21
|
|||
Item
1A.
|
21
|
||
Item
1B.
|
27
|
||
Item
2.
|
27
|
||
Item
3.
|
29
|
||
Item
4.
|
30
|
||
31
|
|||
Part
II
|
Item
5.
|
||
Issuer Purchases of
Equity Securities
|
32
|
||
Item
6.
|
33
|
||
Item
7.
|
35
|
||
35
|
|||
40
|
|||
44
|
|||
48
|
|||
54
|
|||
55
|
|||
65
|
|||
70
|
|||
73
|
|||
83
|
|||
83
|
|||
85
|
|||
85
|
|||
88
|
|||
Item
7A.
|
91
|
||
Item
8.
|
91
|
||
Alliant Energy
Corporation
|
|||
91
|
|||
92
|
|||
94
|
|||
95
|
|||
97
|
|||
98
|
|||
98
|
|||
99
|
|||
112
|
|||
3. Leases
|
112
|
||
4. Receivables
|
113
|
||
5. Income Taxes
|
115
|
||
118
|
|||
127
|
|||
8. Debt
|
130
|
||
9. Investments
|
132
|
||
132
|
|||
135
|
|||
137
|
|||
144
|
|||
144
|
|||
146
|
|||
147
|
|||
147
|
|||
148
|
|||
149
|
|||
20. Related Parties
|
149
|
||
150
|
|||
151
|
|||
Interstate Power and
Light Company
|
|||
152
|
|||
153
|
|||
154
|
|||
155
|
|||
157
|
|||
158
|
|||
158
|
|||
159
|
|||
3. Leases
|
159
|
||
5. Income Taxes
|
160
|
||
161
|
|||
166
|
|||
166
|
|||
167
|
|||
Wisconsin Power and
Light Company
|
|||
168
|
|||
169
|
|||
170
|
|||
171
|
|||
173
|
|||
174
|
|||
174
|
|||
175
|
|||
3. Leases
|
175
|
||
5. Income Taxes
|
176
|
||
177
|
|||
9. Investments
|
182
|
||
182
|
|||
183
|
|||
184
|
|||
Item
9.
|
185
|
||
Item
9A.
|
185
|
||
Item
9B.
|
185
|
||
Part
III
|
Item
10.
|
185
|
|
Item
11.
|
186
|
||
Item
12.
|
|||
Related Stockholder
Matters
|
186
|
||
Item
13.
|
187
|
||
Item
14.
|
187
|
||
Part
IV
|
Item
15.
|
188
|
|
196
|
·
|
federal and state
regulatory or governmental actions, including the impact of energy-related
and tax legislation and of regulatory agency
orders;
|
·
|
IPL’s and WPL’s
ability to obtain adequate and timely rate relief to allow for, among
other things, the recovery of operating costs, deferred expenditures and
capital expenditures, including any construction costs incurred over the
predetermined level included in the advanced rate making principles for
IPL’s Whispering Willow - East wind project, costs related to generating
units that may be permanently closed, the earning of reasonable rates of
return, and the payment of expected levels of
dividends;
|
·
|
the state of the
economy in IPL’s and WPL’s service territories and resulting implications
on sales, margins and ability to collect unpaid bills, in particular as a
result of current economic
conditions;
|
·
|
weather effects on
results of operations;
|
·
|
developments that
adversely impact their ability to implement their strategic plans
including unanticipated issues in connection with construction and
operation of IPL’s and WPL’s new wind generating facilities, WPL’s
potential purchase of the Riverside Energy Center (Riverside), and
unfavorable regulatory outcomes;
|
·
|
issues related to
the availability of generating facilities and the supply and delivery of
fuel and purchased electricity and price thereof, including the ability to
recover and to retain the recovery of purchased power, fuel and
fuel-related costs through rates in a timely
manner;
|
·
|
the impact that fuel
and fuel-related prices and other economic conditions may have on IPL’s
and WPL’s customers’ demand for utility
services;
|
·
|
impacts that storms
or natural disasters in IPL’s and WPL’s service territories may have on
their operations and rate relief for costs associated with restoration
activities;
|
·
|
issues associated
with environmental remediation efforts and with environmental compliance
generally, including changing environmental laws and regulations, the
ability to defend against environmental claims brought by state and
federal agencies, such as the United States of America (U.S.)
Environmental Protection Agency (EPA), or third parties such as the Sierra
Club, and the ability to recover through rates all environmental
compliance costs, including costs for projects put on hold due to
uncertainty of future environmental laws and
regulations;
|
·
|
their ability to
continue cost controls and operational
efficiencies;
|
·
|
potential impacts of
any future laws or regulations regarding global climate change or carbon
emissions reductions, including those that contain a proposed greenhouse
gas (GHG) cap-and-trade program;
|
·
|
continued access to
the capital markets on competitive terms and
rates;
|
·
|
financial impacts of
risk hedging strategies, including the impact of weather hedges or the
absence of weather hedges on
earnings;
|
·
|
sales and project
execution for RMT, Inc. (RMT), the level of growth in the wind and solar
development market and the impact of the American Recovery and
Reinvestment Act of 2009, and pending
legislation;
|
·
|
issues related to
electric transmission, including operating in Regional Transmission
Organization (RTO) energy and ancillary services markets, the impacts of
potential future billing adjustments from RTOs and recovery of costs
incurred;
|
·
|
unplanned outages,
transmission constraints or operational issues impacting fossil or
renewable generating facilities and risks related to recovery of resulting
incremental costs through rates;
|
·
|
Alliant Energy’s
ability to successfully defend against, and any liabilities arising out
of, the purported shareowner derivative complaint stemming from the
Exchangeable Senior Notes due 2030;
|
·
|
Alliant Energy’s
ability to successfully defend against, and any liabilities arising out
of, the alleged violation of the Employee Retirement Income Security Act
of 1974 by Alliant Energy’s Cash Balance Pension
Plan;
|
·
|
current or future
litigation, regulatory investigations, proceedings or
inquiries;
|
·
|
Alliant Energy’s
ability to sustain its dividend payout ratio
goal;
|
·
|
the direct or
indirect effects resulting from terrorist incidents or responses to such
incidents;
|
·
|
employee workforce
factors, including changes in key executives, collective bargaining
agreements and negotiations, work stoppages or additional
restructurings;
|
·
|
access to
technological developments;
|
·
|
any material
post-closing adjustments related to any of their past asset
divestitures;
|
·
|
the impact of
necessary accruals for the terms of incentive compensation
plans;
|
·
|
the effect of
accounting pronouncements issued periodically by standard-setting
bodies;
|
·
|
increased retirement
and benefit plan costs;
|
·
|
the ability to
utilize tax capital losses and net operating losses generated to date, and
those that may be generated in the future, before they
expire;
|
·
|
their ability to
successfully complete ongoing tax audits and appeals with no material
impact on earnings and cash flows;
|
·
|
inflation and
interest rates; and
|
·
|
factors listed in
Item 1A Risk Factors and “Other Matters - Other Future Considerations” in
Management’s Discussion and Analysis of Financial Condition and Results of
Operations (MDA).
|
Alliant Energy | ||||||||||||
IPL |
WPL
|
Resources |
Corporate
Services
|
Number
of
|
Number
of
|
Total
|
Percentage of
Employees
|
||||
Bargaining
Unit
|
Other
|
Number
of
|
Covered by
Collective
|
||||
Employees
|
Employees
|
Employees
|
Bargaining
Agreements
|
||||
Corporate
Services
|
--
|
1,442
|
1,442
|
--
|
|||
IPL
|
1,167
|
268
|
1,435
|
81%
|
|||
WPL
|
1,203
|
95
|
1,298
|
93%
|
|||
Resources:
|
|||||||
RMT
|
--
|
661
|
661
|
--
|
|||
Other
|
84
|
37
|
121
|
69%
|
|||
2,454
|
2,503
|
4,957
|
50%
|
Number
of
|
Contract
|
||
Employees
|
Expiration
Date
|
||
IPL:
|
|||
IBEW Local 204
(Cedar Rapids)
|
748
|
8/31/10
|
|
IUOE Local
275
|
12
|
12/1/10
|
|
IBEW Local 204
(Emery)
|
13
|
2/12/11
|
|
IBEW Local
1439
|
18
|
6/30/11
|
|
IBEW Local
1455
|
5
|
6/30/11
|
|
IBEW Local
949
|
229
|
9/30/12
|
|
IBEW Local 204
(Dubuque)
|
100
|
9/30/12
|
|
IBEW Local 204
(Mason City)
|
42
|
9/30/12
|
|
1,167
|
|||
WPL
- IBEW Local 965
|
1,203
|
5/31/11
|
|
Resources -
Various
|
84
|
Various
|
|
2,454
|
IPL
|
WPL
|
||||||
Operating
|
Operating
|
Operating
|
Operating
|
||||
Revenues
|
Income
(Loss)
|
Revenues
|
Income
(Loss)
|
||||
Electric
|
77%
|
89%
|
84%
|
87%
|
|||
Gas
|
18%
|
12%
|
16%
|
15%
|
|||
Other
|
5%
|
(1%)
|
--
|
(2%)
|
|||
100%
|
100%
|
100%
|
100%
|
2009
|
2008
|
2007
|
||||||||||||||||||||||
Amount
|
Percent
|
Amount
|
Percent
|
Amount
|
Percent
|
|||||||||||||||||||
IPL:
|
||||||||||||||||||||||||
Iowa
|
$ | 1,242.3 | 50 | % | $ | 1,184.3 | 49 | % | $ | 1,173.0 | 49 | % | ||||||||||||
Minnesota
|
73.3 | 3 | % | 74.0 | 3 | % | 75.1 | 3 | % | |||||||||||||||
Illinois
(a)
|
-- | -- | -- | -- | 22.0 | 1 | % | |||||||||||||||||
Subtotal
|
1,315.6 | 53 | % | 1,258.3 | 52 | % | 1,270.1 | 53 | % | |||||||||||||||
WPL:
|
||||||||||||||||||||||||
Wisconsin
|
1,160.3 | 47 | % | 1,153.0 | 48 | % | 1,139.4 | 47 | % | |||||||||||||||
Illinois
(a)
|
-- | -- | -- | -- | 1.3 | -- | ||||||||||||||||||
Subtotal
|
1,160.3 | 47 | % | 1,153.0 | 48 | % | 1,140.7 | 47 | % | |||||||||||||||
$ | 2,475.9 | 100 | % | $ | 2,411.3 | 100 | % | $ | 2,410.8 | 100 | % |
IPL
|
WPL
|
||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
||||||
Respective state
commissions
|
95%
|
96%
|
95%
|
80%
|
84%
|
85%
|
|||||
FERC
|
5%
|
4%
|
5%
|
20%
|
16%
|
15%
|
|||||
100%
|
100%
|
100%
|
100%
|
100%
|
100%
|
Retail
Customers
|
Wholesale
Customers
|
Other
Customers
|
Total
Customers
|
Communities
Served
|
|||||
IPL
|
525,334
|
9
|
1,367
|
526,710
|
752
|
||||
WPL
|
453,573
|
21
|
2,158
|
455,752
|
608
|
||||
978,907
|
30
|
3,525
|
982,462
|
1,360
|
IPL
|
WPL
|
Total
|
|||
Coal
|
1,590
|
1,231
|
2,821
|
||
Natural
gas
|
822
|
628
|
1,450
|
||
Oil
|
292
|
--
|
292
|
||
Wind
(a)
|
40
|
14
|
54
|
||
Hydro
|
--
|
27
|
27
|
||
Total
|
2,744
|
1,900
|
4,644
|
IPL
|
WPL
|
|||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||
All
fuels
|
$ | 2.29 | $ | 2.09 | $ | 2.35 | $ | 2.13 | $ | 2.06 | $ | 1.97 | ||||||||||||
Coal
|
1.56 | 1.58 | 1.35 | 2.02 | 1.93 | 1.69 | ||||||||||||||||||
Natural gas
(a)
|
13.31 | 8.18 | 9.21 | 18.53 | 8.64 | 13.86 |
Alliant
Energy Corporation
|
||||||||||||||||||||
Electric
Operating Information
|
2009
|
2008
|
2007
|
2006
|
2005
|
|||||||||||||||
Operating
Revenues (in millions) (a):
|
||||||||||||||||||||
Residential
|
$ | 868.6 | $ | 844.7 | $ | 847.5 | $ | 857.1 | $ | 823.4 | ||||||||||
Commercial
|
556.8 | 537.5 | 535.2 | 549.8 | 497.4 | |||||||||||||||
Industrial
|
710.7 | 734.7 | 731.9 | 763.7 | 675.2 | |||||||||||||||
Retail
subtotal
|
2,136.1 | 2,116.9 | 2,114.6 | 2,170.6 | 1,996.0 | |||||||||||||||
Sales
for resale:
|
||||||||||||||||||||
Wholesale
|
190.1 | 201.9 | 179.8 | 145.2 | 158.7 | |||||||||||||||
Bulk
power and other
|
98.3 | 31.1 | 56.7 | 68.5 | 114.6 | |||||||||||||||
Other
(includes wheeling)
|
51.4 | 61.4 | 59.7 | 58.7 | 51.3 | |||||||||||||||
Total
|
$ | 2,475.9 | $ | 2,411.3 | $ | 2,410.8 | $ | 2,443.0 | $ | 2,320.6 | ||||||||||
Electric
Sales (000s megawatt-hours (MWh)) (a):
|
||||||||||||||||||||
Residential
|
7,532 | 7,664 | 7,753 | 7,670 | 7,881 | |||||||||||||||
Commercial
|
6,108 | 6,181 | 6,222 | 6,187 | 6,110 | |||||||||||||||
Industrial
|
10,948 | 12,490 | 12,692 | 12,808 | 12,830 | |||||||||||||||
Retail
subtotal
|
24,588 | 26,335 | 26,667 | 26,665 | 26,821 | |||||||||||||||
Sales
for resale:
|
||||||||||||||||||||
Wholesale
|
3,251 | 3,813 | 3,547 | 3,064 | 3,161 | |||||||||||||||
Bulk
power and other
|
2,583 | 983 | 2,550 | 2,632 | 2,933 | |||||||||||||||
Other
|
155 | 164 | 167 | 171 | 173 | |||||||||||||||
Total
|
30,577 | 31,295 | 32,931 | 32,532 | 33,088 | |||||||||||||||
Customers
(End of Period) (a):
|
||||||||||||||||||||
Residential
|
840,927 | 840,644 | 840,122 | 855,948 | 849,845 | |||||||||||||||
Commercial
|
135,099 | 134,536 | 134,235 | 135,822 | 134,149 | |||||||||||||||
Industrial
|
2,881 | 2,934 | 2,964 | 3,064 | 3,044 | |||||||||||||||
Other
|
3,555 | 3,534 | 3,529 | 3,391 | 3,368 | |||||||||||||||
Total
|
982,462 | 981,648 | 980,850 | 998,225 | 990,406 | |||||||||||||||
Other
Selected Electric Data:
|
||||||||||||||||||||
Maximum
peak hour demand (MW)
|
5,491 | 5,491 | 5,751 | 5,989 | 5,932 | |||||||||||||||
Cooling
degree days (b):
|
||||||||||||||||||||
Cedar
Rapids, Iowa (IPL) (normal - 779)
|
406 | 583 | 846 | 765 | 891 | |||||||||||||||
Madison,
Wisconsin (WPL) (normal - 642)
|
368 | 538 | 781 | 637 | 847 | |||||||||||||||
Sources of electric
energy (000s MWh):
|
||||||||||||||||||||
Coal
|
15,321 | 17,495 | 18,643 | 17,578 | 17,360 | |||||||||||||||
Purchased
power:
|
||||||||||||||||||||
Nuclear
(c)
|
5,428 | 5,465 | 5,103 | 5,128 | 1,008 | |||||||||||||||
Wind
|
957 | 853 | 872 | 840 | 823 | |||||||||||||||
Other
|
8,585 | 7,013 | 7,426 | 8,088 | 9,062 | |||||||||||||||
Gas
|
661 | 1,037 | 1,894 | 1,541 | 2,052 | |||||||||||||||
Wind
|
222 | 30 | - | - | - | |||||||||||||||
Nuclear
(c)
|
- | - | - | 264 | 3,461 | |||||||||||||||
Other
|
180 | 215 | 309 | 263 | 297 | |||||||||||||||
Total
|
31,354 | 32,108 | 34,247 | 33,702 | 34,063 | |||||||||||||||
|
||||||||||||||||||||
Revenue per
kilowatt-hour (KWh) sold to retail
customers (cents) |
8.69 | 8.04 | 7.93 | 8.14 | 7.44 | |||||||||||||||
(a)
In February 2007, Alliant Energy sold its electric distribution properties
in Illinois. At the date of the sale, Alliant
|
||||||||||||||||||||
Energy had
approximately 22,000 electric retail customers in Illinois. Prior to
the asset sales, the electric sales to
|
||||||||||||||||||||
retail customers in
Illinois are included in residential, commercial and industrial sales in
the tables above. Following
|
||||||||||||||||||||
the
asset sales, any electric sales associated with these customers are
included in wholesale electric sales.
|
||||||||||||||||||||
(b)
Cooling degree days are calculated using a simple average of the high and
low temperatures each day compared to a
|
||||||||||||||||||||
65
degree base. Normal degree days are calculated using a rolling
20-year average of historical cooling degree days.
|
||||||||||||||||||||
(c)
In January 2006 and July 2005, IPL and WPL sold their respective interests
in DAEC and Kewaunee and upon closing
|
||||||||||||||||||||
of
the sales entered into long-term purchased power agreements to purchase
energy and capacity from DAEC and
|
||||||||||||||||||||
Kewaunee,
respectively.
|
Interstate
Power and Light Company
|
||||||||||||||||||||
Electric
Operating Information
|
2009
|
2008
|
2007
|
2006
|
2005
|
|||||||||||||||
Operating
Revenues (in millions) (a):
|
||||||||||||||||||||
Residential
|
$ | 478.9 | $ | 455.2 | $ | 451.2 | $ | 471.2 | $ | 453.9 | ||||||||||
Commercial
|
336.8 | 319.4 | 316.2 | 337.4 | 300.0 | |||||||||||||||
Industrial
|
412.5 | 407.0 | 402.0 | 440.7 | 387.0 | |||||||||||||||
Retail
subtotal
|
1,228.2 | 1,181.6 | 1,169.4 | 1,249.3 | 1,140.9 | |||||||||||||||
Sales
for resale:
|
||||||||||||||||||||
Wholesale
|
23.5 | 23.4 | 21.3 | 1.9 | 1.9 | |||||||||||||||
Bulk
power and other
|
37.3 | 21.1 | 42.2 | 47.8 | 73.5 | |||||||||||||||
Other
(includes wheeling)
|
26.6 | 32.2 | 37.2 | 32.6 | 30.4 | |||||||||||||||
Total
|
$ | 1,315.6 | $ | 1,258.3 | $ | 1,270.1 | $ | 1,331.6 | $ | 1,246.7 | ||||||||||
Electric
Sales (000s MWh) (a):
|
||||||||||||||||||||
Residential
|
4,113 | 4,218 | 4,204 | 4,157 | 4,282 | |||||||||||||||
Commercial
|
3,851 | 3,911 | 3,912 | 3,910 | 3,836 | |||||||||||||||
Industrial
|
6,829 | 7,742 | 7,750 | 7,860 | 8,005 | |||||||||||||||
Retail
subtotal
|
14,793 | 15,871 | 15,866 | 15,927 | 16,123 | |||||||||||||||
Sales
for resale:
|
||||||||||||||||||||
Wholesale
|
403 | 449 | 406 | 35 | 41 | |||||||||||||||
Bulk
power and other
|
901 | 682 | 1,581 | 1,550 | 1,682 | |||||||||||||||
Other
|
84 | 90 | 93 | 99 | 98 | |||||||||||||||
Total
|
16,181 | 17,092 | 17,946 | 17,611 | 17,944 | |||||||||||||||
Customers
(End of Period) (a):
|
||||||||||||||||||||
Residential
|
443,615 | 443,589 | 444,974 | 455,346 | 454,176 | |||||||||||||||
Commercial
|
79,805 | 79,508 | 79,473 | 81,045 | 80,238 | |||||||||||||||
Industrial
|
1,914 | 1,939 | 1,954 | 2,018 | 1,996 | |||||||||||||||
Other
|
1,376 | 1,381 | 1,398 | 1,299 | 1,317 | |||||||||||||||
Total
|
526,710 | 526,417 | 527,799 | 539,708 | 537,727 | |||||||||||||||
Other
Selected Electric Data:
|
||||||||||||||||||||
Maximum
peak hour demand (MW)
|
2,981 | 2,943 | 3,085 | 3,070 | 3,077 | |||||||||||||||
Cooling
degree days (b):
|
||||||||||||||||||||
Cedar
Rapids, Iowa (normal - 779)
|
406 | 583 | 846 | 765 | 891 | |||||||||||||||
Sources
of electric energy (000s MWh):
|
||||||||||||||||||||
Coal
|
8,162 | 9,517 | 10,547 | 9,919 | 9,782 | |||||||||||||||
Purchased
power:
|
||||||||||||||||||||
Nuclear
(c)
|
3,577 | 3,619 | 3,066 | 3,297 | - | |||||||||||||||
Wind
|
571 | 616 | 656 | 644 | 632 | |||||||||||||||
Other
|
3,744 | 2,538 | 2,445 | 3,099 | 3,236 | |||||||||||||||
Gas
|
636 | 983 | 1,778 | 1,426 | 1,686 | |||||||||||||||
Wind
|
42 | - | - | - | - | |||||||||||||||
Nuclear
(c)
|
- | - | - | 264 | 3,177 | |||||||||||||||
Other
|
16 | 23 | 127 | 80 | 121 | |||||||||||||||
Total
|
16,748 | 17,296 | 18,619 | 18,729 | 18,634 | |||||||||||||||
Revenue
per KWh sold to retail customers (cents)
|
8.30 | 7.45 | 7.37 | 7.84 | 7.08 | |||||||||||||||
(a)
In February 2007, IPL sold its electric distribution properties in
Illinois. At the date of the sale, IPL had
approximately
|
||||||||||||||||||||
13,000 electric
retail customers in Illinois. Prior to the asset sale, the electric
sales to retail customers in Illinois are
|
||||||||||||||||||||
included in
residential, commercial and industrial sales in the tables
above. Following the asset sale, any electric sales
|
||||||||||||||||||||
associated with
these customers are included in wholesale electric sales.
|
||||||||||||||||||||
(b)
Cooling degree days are calculated using a simple average of the high and
low temperatures each day compared to a
|
||||||||||||||||||||
65 degree
base. Normal degree days are calculated using a rolling 20-year
average of historical cooling degree days.
|
||||||||||||||||||||
(c)
In January 2006, IPL sold its interest in DAEC and upon closing of the
sale entered into a long-term purchased power
|
||||||||||||||||||||
agreement to
purchase energy and capacity from
DAEC.
|
Wisconsin
Power and Light Company
|
||||||||||||||||||||
Electric
Operating Information
|
2009
|
2008
|
2007
|
2006
|
2005
|
|||||||||||||||
Operating
Revenues (in millions) (a):
|
||||||||||||||||||||
Residential
|
$ | 389.7 | $ | 389.5 | $ | 396.3 | $ | 385.9 | $ | 369.5 | ||||||||||
Commercial
|
220.0 | 218.1 | 219.0 | 212.4 | 197.4 | |||||||||||||||
Industrial
|
298.2 | 327.7 | 329.9 | 323.0 | 288.2 | |||||||||||||||
Retail
subtotal
|
907.9 | 935.3 | 945.2 | 921.3 | 855.1 | |||||||||||||||
Sales
for resale:
|
||||||||||||||||||||
Wholesale
|
166.6 | 178.5 | 158.5 | 143.3 | 156.8 | |||||||||||||||
Bulk
power and other
|
61.0 | 10.0 | 14.5 | 20.7 | 41.1 | |||||||||||||||
Other
|
24.8 | 29.2 | 22.5 | 26.1 | 20.9 | |||||||||||||||
Total
|
$ | 1,160.3 | $ | 1,153.0 | $ | 1,140.7 | $ | 1,111.4 | $ | 1,073.9 | ||||||||||
Electric
Sales (000s MWh) (a):
|
||||||||||||||||||||
Residential
|
3,419 | 3,446 | 3,549 | 3,513 | 3,599 | |||||||||||||||
Commercial
|
2,257 | 2,270 | 2,310 | 2,277 | 2,274 | |||||||||||||||
Industrial
|
4,119 | 4,748 | 4,942 | 4,948 | 4,825 | |||||||||||||||
Retail
subtotal
|
9,795 | 10,464 | 10,801 | 10,738 | 10,698 | |||||||||||||||
Sales
for resale:
|
||||||||||||||||||||
Wholesale
|
2,848 | 3,364 | 3,141 | 3,029 | 3,120 | |||||||||||||||
Bulk
power and other
|
1,682 | 301 | 969 | 1,082 | 1,251 | |||||||||||||||
Other
|
71 | 74 | 74 | 72 | 75 | |||||||||||||||
Total
|
14,396 | 14,203 | 14,985 | 14,921 | 15,144 | |||||||||||||||
Customers
(End of Period) (a):
|
||||||||||||||||||||
Residential
|
397,312 | 397,055 | 395,148 | 400,602 | 395,669 | |||||||||||||||
Commercial
|
55,294 | 55,028 | 54,762 | 54,777 | 53,911 | |||||||||||||||
Industrial
|
967 | 995 | 1,010 | 1,046 | 1,048 | |||||||||||||||
Other
|
2,179 | 2,153 | 2,131 | 2,092 | 2,051 | |||||||||||||||
Total
|
455,752 | 455,231 | 453,051 | 458,517 | 452,679 | |||||||||||||||
Other
Selected Electric Data:
|
||||||||||||||||||||
Maximum
peak hour demand (MW)
|
2,558 | 2,583 | 2,816 | 2,941 | 2,854 | |||||||||||||||
Cooling
degree days (b):
|
||||||||||||||||||||
Madison,
Wisconsin (normal - 642)
|
368 | 538 | 781 | 637 | 847 | |||||||||||||||
Sources of electric
energy (000s MWh):
|
||||||||||||||||||||
Coal
|
7,159 | 7,978 | 8,096 | 7,659 | 7,578 | |||||||||||||||
Purchased
power:
|
||||||||||||||||||||
Nuclear
(c)
|
1,851 | 1,846 | 2,037 | 1,831 | 1,008 | |||||||||||||||
Wind
|
386 | 237 | 216 | 196 | 191 | |||||||||||||||
Other
|
4,841 | 4,475 | 4,981 | 4,989 | 5,826 | |||||||||||||||
Gas
|
25 | 54 | 116 | 115 | 366 | |||||||||||||||
Wind
|
180 | 30 | - | - | - | |||||||||||||||
Nuclear
(c)
|
- | - | - | - | 284 | |||||||||||||||
Other
|
164 | 192 | 182 | 183 | 176 | |||||||||||||||
Total
|
14,606 | 14,812 | 15,628 | 14,973 | 15,429 | |||||||||||||||
Revenue
per KWh sold to retail customers (cents)
|
9.27 | 8.94 | 8.75 | 8.58 | 7.99 | |||||||||||||||
(a)
In February 2007, WPL sold its electric distribution properties in
Illinois. At the date of the sale, WPL had
|
||||||||||||||||||||
approximately 9,000
electric retail customers in Illinois. Prior to the asset sale, the
electric sales to retail
|
||||||||||||||||||||
customers in
Illinois are included in residential, commercial and industrial sales in
the tables above. Following
|
||||||||||||||||||||
the
asset sale, any electric sales associated with these customers are
included in wholesale electric sales.
|
||||||||||||||||||||
(b)
Cooling degree days are calculated using a simple average of the high and
low temperatures each day compared to a
|
||||||||||||||||||||
65
degree base. Normal degree days are calculated using a rolling
20-year average of historical cooling degree days.
|
||||||||||||||||||||
(c) In July
2005, WPL sold its interest in Kewaunee and upon closing of the sale
entered into a long-term purchased
|
||||||||||||||||||||
power agreement to
purchase energy and capacity from
Kewaunee.
|
2009
|
2008
|
2007
|
||||||||||||||||||||||
Amount
|
Percent
|
Amount
|
Percent
|
Amount
|
Percent
|
|||||||||||||||||||
IPL:
|
||||||||||||||||||||||||
Iowa
|
$ | 295.2 | 56 | % | $ | 390.4 | 55 | % | $ | 345.6 | 55 | % | ||||||||||||
Minnesota
|
13.6 | 3 | % | 20.0 | 3 | % | 17.4 | 3 | % | |||||||||||||||
Illinois
(a)
|
-- | -- | -- | -- | 1.5 | -- | ||||||||||||||||||
Subtotal
|
308.8 | 59 | % | 410.4 | 58 | % | 364.5 | 58 | % | |||||||||||||||
WPL:
|
||||||||||||||||||||||||
Wisconsin
|
216.5 | 41 | % | 300.0 | 42 | % | 263.7 | 42 | % | |||||||||||||||
Illinois
(a)
|
-- | -- | -- | -- | 2.0 | -- | ||||||||||||||||||
Subtotal
|
216.5 | 41 | % | 300.0 | 42 | % | 265.7 | 42 | % | |||||||||||||||
$ | 525.3 | 100 | % | $ | 710.4 | 100 | % | $ | 630.2 | 100 | % |
Retail
|
Transportation
/
|
Total
|
Communities
|
||||
Customers
|
Other
Customers
|
Customers
|
Served
|
||||
IPL
|
233,841
|
242
|
234,083
|
243
|
|||
WPL
|
177,968
|
221
|
178,189
|
236
|
|||
411,809
|
463
|
412,272
|
479
|
NNG
|
ANR
|
NGPL
|
FCS
|
NBPL
|
Guardian
|
Total
|
|||||||
IPL
|
186,469
|
53,180
|
42,618
|
15,000
|
14,085
|
--
|
311,352
|
||||||
WPL
|
83,056
|
177,467
|
--
|
--
|
--
|
10,000
|
270,523
|
Alliant
Energy Corporation
|
||||||||||||||||||||
Gas
Operating Information
|
2009
|
2008
|
2007
|
2006
|
2005
|
|||||||||||||||
Operating
Revenues (in millions) (a):
|
||||||||||||||||||||
Residential
|
$ | 290.8 | $ | 385.0 | $ | 348.6 | $ | 342.8 | $ | 358.1 | ||||||||||
Commercial
|
174.7 | 240.5 | 199.0 | 198.8 | 202.0 | |||||||||||||||
Industrial
|
30.7 | 51.1 | 39.4 | 38.7 | 43.8 | |||||||||||||||
Retail
subtotal
|
496.2 | 676.6 | 587.0 | 580.3 | 603.9 | |||||||||||||||
Interdepartmental
|
4.9 | 7.8 | 17.4 | 19.2 | 55.9 | |||||||||||||||
Transportation/other
|
24.2 | 26.0 | 25.8 | 33.8 | 25.3 | |||||||||||||||
Total
|
$ | 525.3 | $ | 710.4 | $ | 630.2 | $ | 633.3 | $ | 685.1 | ||||||||||
Gas
Sales (000s Dths) (a):
|
||||||||||||||||||||
Residential
|
27,711 | 30,630 | 28,137 | 26,406 | 28,554 | |||||||||||||||
Commercial
|
20,725 | 22,461 | 19,417 | 18,707 | 18,763 | |||||||||||||||
Industrial
|
4,558 | 5,558 | 4,694 | 4,498 | 4,406 | |||||||||||||||
Retail
subtotal
|
52,994 | 58,649 | 52,248 | 49,611 | 51,723 | |||||||||||||||
Interdepartmental
|
938 | 1,373 | 2,591 | 2,468 | 6,959 | |||||||||||||||
Transportation/other
|
53,580 | 59,253 | 58,911 | 53,436 | 55,891 | |||||||||||||||
Total
|
107,512 | 119,275 | 113,750 | 105,515 | 114,573 | |||||||||||||||
Retail
Customers at End of Period (a):
|
||||||||||||||||||||
Residential
|
365,597 | 365,193 | 363,825 | 374,494 | 371,443 | |||||||||||||||
Commercial
|
45,641 | 45,413 | 45,374 | 46,319 | 46,153 | |||||||||||||||
Industrial
|
571 | 584 | 591 | 657 | 692 | |||||||||||||||
Total
|
411,809 | 411,190 | 409,790 | 421,470 | 418,288 | |||||||||||||||
Other
Selected Gas Data:
|
||||||||||||||||||||
Heating
degree days (b):
|
||||||||||||||||||||
Cedar
Rapids, Iowa (IPL) (normal - 6,732)
|
7,074 | 7,636 | 6,815 | 6,247 | 6,585 | |||||||||||||||
Madison,
Wisconsin (WPL) (normal - 7,095)
|
7,356 | 7,714 | 6,935 | 6,520 | 6,840 | |||||||||||||||
Revenue
per Dth sold to retail customers
|
$ | 9.36 | $ | 11.54 | $ | 11.23 | $ | 11.70 | $ | 11.68 | ||||||||||
Purchased
gas costs per Dth sold to retail customers
|
$ | 6.47 | $ | 8.73 | $ | 8.11 | $ | 8.32 | $ | 8.68 | ||||||||||
(a)
In February 2007, Alliant Energy sold its natural gas properties in
Illinois. At the date of the sale, Alliant Energy had
|
||||||||||||||||||||
approximately 14,000
gas retail customers in Illinois. Prior to the asset sales, the gas
sales to retail customers in
|
||||||||||||||||||||
Illinois are
included in residential, commercial and industrial sales in the tables
above.
|
||||||||||||||||||||
(b)
Heating degree days are calculated using a simple average of the high and
low temperatures each day compared to a
|
||||||||||||||||||||
65
degree base. Normal degree days are calculated using a rolling
20-year average of historical heating degree days.
|
Interstate
Power and Light Company
|
||||||||||||||||||||
Gas
Operating Information
|
2009
|
2008
|
2007
|
2006
|
2005
|
|||||||||||||||
Operating
Revenues (in millions) (a):
|
||||||||||||||||||||
Residential
|
$ | 168.6 | $ | 219.3 | $ | 203.4 | $ | 197.9 | $ | 201.7 | ||||||||||
Commercial
|
100.8 | 137.3 | 115.0 | 114.4 | 112.7 | |||||||||||||||
Industrial
|
25.0 | 40.4 | 31.2 | 30.4 | 33.8 | |||||||||||||||
Retail
subtotal
|
294.4 | 397.0 | 349.6 | 342.7 | 348.2 | |||||||||||||||
Interdepartmental
|
2.9 | 2.2 | 2.6 | 2.2 | 5.1 | |||||||||||||||
Transportation/other
|
11.5 | 11.2 | 12.3 | 14.5 | 9.5 | |||||||||||||||
Total
|
$ | 308.8 | $ | 410.4 | $ | 364.5 | $ | 359.4 | $ | 362.8 | ||||||||||
Gas
Sales (000s Dths) (a):
|
||||||||||||||||||||
Residential
|
16,072 | 18,110 | 16,541 | 15,136 | 16,486 | |||||||||||||||
Commercial
|
11,451 | 13,099 | 11,080 | 10,552 | 10,576 | |||||||||||||||
Industrial
|
3,787 | 4,539 | 3,811 | 3,622 | 3,428 | |||||||||||||||
Retail
subtotal
|
31,310 | 35,748 | 31,432 | 29,310 | 30,490 | |||||||||||||||
Interdepartmental
|
474 | 217 | 327 | 352 | 511 | |||||||||||||||
Transportation/other
|
29,924 | 34,776 | 34,433 | 32,342 | 30,691 | |||||||||||||||
Total
|
61,708 | 70,741 | 66,192 | 62,004 | 61,692 | |||||||||||||||
Retail
Customers at End of Period (a):
|
||||||||||||||||||||
Residential
|
206,937 | 206,866 | 206,873 | 211,768 | 211,217 | |||||||||||||||
Commercial
|
26,545 | 26,603 | 26,664 | 27,222 | 27,384 | |||||||||||||||
Industrial
|
359 | 367 | 366 | 382 | 398 | |||||||||||||||
Total
|
233,841 | 233,836 | 233,903 | 239,372 | 238,999 | |||||||||||||||
Other
Selected Gas Data:
|
||||||||||||||||||||
Heating
degree days (b):
|
||||||||||||||||||||
Cedar
Rapids, Iowa (normal - 6,732)
|
7,074 | 7,636 | 6,815 | 6,247 | 6,585 | |||||||||||||||
Revenue
per Dth sold to retail customers
|
$ | 9.40 | $ | 11.11 | $ | 11.12 | $ | 11.69 | $ | 11.42 | ||||||||||
Purchased
gas cost per Dth sold to retail customers
|
$ | 6.61 | $ | 8.50 | $ | 8.38 | $ | 8.69 | $ | 8.78 | ||||||||||
Wisconsin
Power and Light Company
|
||||||||||||||||||||
Gas
Operating Information
|
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Operating
Revenues (in millions) (a):
|
||||||||||||||||||||
Residential
|
$ | 122.2 | $ | 165.7 | $ | 145.2 | $ | 144.9 | $ | 156.4 | ||||||||||
Commercial
|
73.9 | 103.2 | 84.0 | 84.4 | 89.3 | |||||||||||||||
Industrial
|
5.7 | 10.7 | 8.2 | 8.3 | 10.0 | |||||||||||||||
Retail
subtotal
|
201.8 | 279.6 | 237.4 | 237.6 | 255.7 | |||||||||||||||
Interdepartmental
|
2.0 | 5.6 | 14.8 | 17.0 | 50.8 | |||||||||||||||
Transportation/other
|
12.7 | 14.8 | 13.5 | 19.3 | 15.8 | |||||||||||||||
Total
|
$ | 216.5 | $ | 300.0 | $ | 265.7 | $ | 273.9 | $ | 322.3 | ||||||||||
Gas
Sales (000s Dths) (a):
|
||||||||||||||||||||
Residential
|
11,639 | 12,520 | 11,596 | 11,270 | 12,068 | |||||||||||||||
Commercial
|
9,274 | 9,362 | 8,337 | 8,155 | 8,187 | |||||||||||||||
Industrial
|
771 | 1,019 | 883 | 876 | 978 | |||||||||||||||
Retail
subtotal
|
21,684 | 22,901 | 20,816 | 20,301 | 21,233 | |||||||||||||||
Interdepartmental
|
464 | 1,156 | 2,264 | 2,116 | 6,448 | |||||||||||||||
Transportation/other
|
23,656 | 24,477 | 24,478 | 21,094 | 25,200 | |||||||||||||||
Total
|
45,804 | 48,534 | 47,558 | 43,511 | 52,881 | |||||||||||||||
Retail
Customers at End of Period (a):
|
||||||||||||||||||||
Residential
|
158,660 | 158,327 | 156,952 | 162,726 | 160,226 | |||||||||||||||
Commercial
|
19,096 | 18,810 | 18,710 | 19,097 | 18,769 | |||||||||||||||
Industrial
|
212 | 217 | 225 | 275 | 294 | |||||||||||||||
Total
|
177,968 | 177,354 | 175,887 | 182,098 | 179,289 | |||||||||||||||
Other
Selected Gas Data:
|
||||||||||||||||||||
Heating
degree days (b):
|
||||||||||||||||||||
Madison,
Wisconsin (normal - 7,095)
|
7,356 | 7,714 | 6,935 | 6,520 | 6,840 | |||||||||||||||
Revenue
per Dth sold to retail customers
|
$ | 9.31 | $ | 12.21 | $ | 11.40 | $ | 11.70 | $ | 12.04 | ||||||||||
Purchased
gas cost per Dth sold to retail customers
|
$ | 6.28 | $ | 9.08 | $ | 7.70 | $ | 7.77 | $ | 8.53 | ||||||||||
(a)
In February 2007, IPL and WPL sold their respective natural gas properties
in Illinois. At the date of the sale, IPL and
|
||||||||||||||||||||
WPL
had approximately 6,000 and 8,000 gas retail customers in Illinois,
respectively. Prior to the asset sales, the gas
|
||||||||||||||||||||
sales to retail
customers in Illinois are included in residential, commercial and
industrial sales in the tables above.
|
||||||||||||||||||||
(b)
Heating degree days are calculated using a simple average of the high and
low temperatures each day compared to a
|
||||||||||||||||||||
65
degree base. Normal degree days are calculated using a rolling
20-year average of historical heating degree days.
|
No.
|
Primary
|
Primary
|
Generating
|
|||||||||||
of
|
In-service
|
Fuel
|
Dispatch
|
Capacity
|
||||||||||
Name of Generating
Facility
|
Location
|
Units
|
Dates
|
Type
|
Type
(a)
|
in
MW
|
||||||||
Ottumwa Generating
Station
|
Ottumwa,
IA
|
1
|
1981
|
Coal
|
BL
|
299
|
(b)
|
|||||||
Lansing Generating
Station Units 3, 4
|
Lansing,
IA
|
2
|
1957-1977
|
Coal
|
BL
|
260
|
||||||||
M.
L. Kapp Generating Station Unit 2
|
Clinton,
IA
|
1
|
1967
|
Coal
|
BL
|
181
|
||||||||
Burlington
Generating Station
|
Burlington,
IA
|
1
|
1968
|
Coal
|
BL
|
174
|
||||||||
Prairie Creek
Generating Station
|
Cedar Rapids,
IA
|
4
|
1951-1997
|
Coal
|
BL
|
165
|
||||||||
George Neal
Generating Station Unit 4
|
Sioux City,
IA
|
1
|
1979
|
Coal
|
BL
|
152
|
(c)
|
|||||||
Sutherland
Generating Station
|
Marshalltown,
IA
|
3
|
1955-1961
|
Coal
|
BL
|
135
|
||||||||
George Neal
Generating Station Unit 3
|
Sioux City,
IA
|
1
|
1975
|
Coal
|
BL
|
133
|
(d)
|
|||||||
Dubuque Generating
Station Units 2, 3, 4
|
Dubuque,
IA
|
3
|
1929-1959
|
Coal
|
IN
|
63
|
||||||||
Louisa Generating
Station Unit 1
|
Louisa,
IA
|
1
|
1983
|
Coal
|
BL
|
28
|
(e)
|
|||||||
Sixth Street
Generating Station
|
Cedar Rapids,
IA
|
4
|
1930-1950
|
Coal
|
BL
|
--
|
(f)
|
|||||||
Total
Coal
|
1,590
|
|||||||||||||
Emery Generating
Station
|
Mason City,
IA
|
3
|
2004
|
Gas
|
IN
|
587
|
||||||||
Fox
Lake Generating Station Units 1, 3
|
Sherburn,
MN
|
2
|
1950-1962
|
Gas
|
PK
|
80
|
||||||||
Burlington
Combustion Turbines
|
Burlington,
IA
|
4
|
1994-1996
|
Gas
|
PK
|
53
|
||||||||
Grinnell Generating
Station
|
Grinnell,
IA
|
2
|
1990-1991
|
Gas
|
PK
|
44
|
||||||||
Agency Street
Combustion Turbines
|
West Burlington,
IA
|
4
|
1990-1992
|
Gas
|
PK
|
38
|
||||||||
Red
Cedar Combustion Turbine
|
Cedar Rapids,
IA
|
1
|
1996
|
Gas
|
PK
|
20
|
||||||||
Total
Gas
|
822
|
|||||||||||||
Marshalltown
Combustion Turbines
|
Marshalltown,
IA
|
3
|
1978
|
Oil
|
PK
|
153
|
||||||||
Lime Creek Plant
Combustion Turbines
|
Mason City,
IA
|
2
|
1991
|
Oil
|
PK
|
62
|
||||||||
Centerville
Combustion Turbines
|
Centerville,
IA
|
2
|
1990
|
Oil
|
PK
|
43
|
||||||||
Montgomery
Combustion Turbine
|
Montgomery,
MN
|
1
|
1974
|
Oil
|
PK
|
19
|
||||||||
Diesel
Stations
|
Iowa and
Minnesota
|
9
|
1963-1996
|
Oil
|
PK
|
15
|
||||||||
Total
Oil
|
292
|
|||||||||||||
Whispering Willow -
East
|
Franklin Co.,
IA
|
121
|
2009
|
Wind
|
IN
|
40
|
(g)
|
|||||||
Total
Wind
|
40
|
|||||||||||||
Total generating
capacity
|
2,744
|
(a)
|
Baseload units (BL)
are designed for nearly continuous operation at or near full capacity to
provide the system base load.
|
(b)
|
Represents IPL’s 48%
ownership interest in this 623 MW generating station, which is operated by
IPL.
|
(c)
|
Represents IPL’s
25.695% ownership interest in this 591 MW generating station, which is
operated by MidAmerican Energy Company
(MidAmerican).
|
(d)
|
Represents IPL’s 28%
ownership interest in this 474 MW generating station, which is operated by
MidAmerican.
|
(e)
|
Represents IPL’s 4%
ownership interest in this 698 MW generating station, which is operated by
MidAmerican.
|
(f)
|
The Sixth Street
Generating Station remains shutdown since June 2008 as a result of damage
caused by severe flooding.
|
(g)
|
Represents 20% of
the capacity of this 200 MW wind project based upon the MISO resource
adequacy process for other wind projects during the planning period from
June 2009 to May 2010.
|
Primary
|
Primary
|
Generating
|
||||||||||||
No.
of
|
In-service
|
Fuel
|
Dispatch
|
Capacity
|
||||||||||
Name of Generating
Facility
|
Location
|
Units
|
Dates
|
Type
|
Type
(a)
|
in
MW
|
||||||||
Columbia Energy
Center
|
Portage,
WI
|
2
|
1975-1978
|
Coal
|
BL
|
448
|
(b)
|
|||||||
Edgewater Generating
Station Unit 5
|
Sheboygan,
WI
|
1
|
1985
|
Coal
|
BL
|
294
|
(c)
|
|||||||
Edgewater Generating
Station Unit 4
|
Sheboygan,
WI
|
1
|
1969
|
Coal
|
BL
|
223
|
(d)
|
|||||||
Nelson Dewey
Generating Station
|
Cassville,
WI
|
2
|
1959-1962
|
Coal
|
IN
|
195
|
||||||||
Edgewater Generating
Station Unit 3
|
Sheboygan,
WI
|
1
|
1951
|
Coal
|
IN
|
71
|
||||||||
Total
Coal
|
1,231
|
|||||||||||||
Neenah Energy
Facility
|
Neenah,
WI
|
2
|
2000
|
Gas
|
PK
|
294
|
||||||||
South Fond du Lac
Combustion Turbines
|
Fond du Lac,
WI
|
2
|
1994
|
Gas
|
PK
|
163
|
||||||||
Rock River
Combustion Turbines
|
Beloit,
WI
|
4
|
1967-1972
|
Gas
|
PK
|
148
|
||||||||
Sheepskin Combustion
Turbine
|
Edgerton,
WI
|
1
|
1971
|
Gas
|
PK
|
23
|
||||||||
Total
Gas
|
628
|
|||||||||||||
Cedar
Ridge
|
Fond du Lac Co.,
WI
|
41
|
2008
|
Wind
|
IN
|
14
|
(e)
|
|||||||
Total
Wind
|
14
|
|||||||||||||
Prairie du Sac Hydro
Plant
|
Prairie du Sac,
WI
|
8
|
1914-1940
|
Hydro
|
IN
|
19
|
||||||||
Kilbourn Hydro
Plant
|
Wisconsin Dells,
WI
|
4
|
1926-1939
|
Hydro
|
IN
|
8
|
||||||||
Total
Hydro
|
27
|
|||||||||||||
Total generating
capacity
|
1,900
|
(a)
|
Baseload units (BL)
are designed for nearly continuous operation at or near full capacity to
provide the system base load.
|
(b)
|
Represents WPL’s
46.2% ownership interest in this 970 MW generating station, which is
operated by WPL.
|
(c)
|
Represents WPL’s 75%
ownership interest in this 392 MW generating station, which is operated by
WPL.
|
(d)
|
Represents WPL’s
68.2% ownership interest in this 328 MW generating station, which is
operated by WPL.
|
(e)
|
Represents 20% of
the capacity of this 68 MW wind project as prescribed by the MISO resource
adequacy process for wind projects during the planning period from June
2009 to May 2010.
|
MARKET
FOR REGISTRANTS’ COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
|
2009
|
2008
|
|||||||||||||||||||||||
Quarter
|
High
|
Low
|
Dividend
|
High
|
Low
|
Dividend
|
||||||||||||||||||
First
|
$ | 30.50 | $ | 20.31 | $ | 0.375 | $ | 42.37 | $ | 34.00 | $ | 0.35 | ||||||||||||
Second
|
26.26 | 22.08 | 0.375 | 38.88 | 33.50 | 0.35 | ||||||||||||||||||
Third
|
28.78 | 24.73 | 0.375 | 35.60 | 31.19 | 0.35 | ||||||||||||||||||
Fourth
|
31.53 | 26.08 | 0.375 | 32.86 | 22.80 | 0.35 | ||||||||||||||||||
Year
|
31.53 | 20.31 | 1.50 | 42.37 | 22.80 | 1.40 |
Maximum Number
(or
|
||||||||||||||||
Total Number
of
|
Approximate
Dollar
|
|||||||||||||||
Total
Number
|
Average
Price
|
Shares Purchased
as
|
Value) of Shares
That
|
|||||||||||||
of
Shares
|
Paid
Per
|
Part of
Publicly
|
May Yet Be
Purchased
|
|||||||||||||
Period
|
Purchased
(a)
|
Share
|
Announced
Plan
|
Under the Plan
(a)
|
||||||||||||
Oct. 1 to Oct.
31
|
252 | $ | 27.02 | -- | N/A | |||||||||||
Nov. 1 to Nov.
30
|
3,701 | 27.61 | -- | N/A | ||||||||||||
Dec. 1 to Dec.
31
|
356 | 30.71 | -- | N/A | ||||||||||||
Total
|
4,309 | 27.83 | -- |
(a)
|
All shares were
purchased on the open market and held in a rabbi trust under the Alliant
Energy Deferred Compensation Plan (DCP). There is no limit on
the number of shares of Alliant Energy common stock that may be held under
the DCP, which currently does not have an expiration
date.
|
ITEM
6. SELECTED FINANCIAL
DATA
|
||||||||||||||||||||
Alliant
Energy
|
||||||||||||||||||||
Financial
Information
|
2009
(a)
|
2008
(a)
|
2007
(a)
|
2006
|
2005
|
|||||||||||||||
(dollars in
millions, except per share data)
|
||||||||||||||||||||
Income
Statement Data:
|
||||||||||||||||||||
Operating
revenues
|
$ | 3,432.8 | $ | 3,681.7 | $ | 3,437.6 | $ | 3,359.4 | $ | 3,279.6 | ||||||||||
Income
from continuing operations, net of tax
|
129.4 | 298.7 | 443.4 | 357.0 | 75.1 | |||||||||||||||
Income
(loss) from discontinued operations, net of tax
|
0.3 | 8.0 | 0.6 | (22.6 | ) | (64.1 | ) | |||||||||||||
Net
income
|
129.7 | 306.7 | 444.0 | 334.4 | 11.0 | |||||||||||||||
Amounts attributable
to Alliant Energy common shareowners:
|
||||||||||||||||||||
Income
from continuing operations, net of tax
|
110.7 | 280.0 | 424.7 | 338.3 | 56.4 | |||||||||||||||
Income
(loss) from discontinued operations, net of tax
|
0.3 | 8.0 | 0.6 | (22.6 | ) | (64.1 | ) | |||||||||||||
Net
income (loss)
|
111.0 | 288.0 | 425.3 | 315.7 | (7.7 | ) | ||||||||||||||
Common
Stock Data:
|
||||||||||||||||||||
Earnings per
weighted average common share attributable to
|
||||||||||||||||||||
Alliant Energy
common shareowners (basic):
|
||||||||||||||||||||
Income
from continuing operations, net of tax
|
$ | 1.01 | $ | 2.54 | $ | 3.78 | $ | 2.90 | $ | 0.48 | ||||||||||
Income
(loss) from discontinued operations, net of tax
|
$ | - | $ | 0.07 | $ | 0.01 | $ | (0.20 | ) | $ | (0.55 | ) | ||||||||
Net
income (loss)
|
$ | 1.01 | $ | 2.61 | $ | 3.79 | $ | 2.70 | $ | (0.07 | ) | |||||||||
Earnings per
weighted average common share attributable to
|
||||||||||||||||||||
Alliant Energy
common shareowners (diluted):
|
||||||||||||||||||||
Income
from continuing operations, net of tax
|
$ | 1.01 | $ | 2.54 | $ | 3.77 | $ | 2.89 | $ | 0.48 | ||||||||||
Income
(loss) from discontinued operations, net of tax
|
$ | - | $ | 0.07 | $ | 0.01 | $ | (0.20 | ) | $ | (0.55 | ) | ||||||||
Net
income (loss)
|
$ | 1.01 | $ | 2.61 | $ | 3.78 | $ | 2.69 | $ | (0.07 | ) | |||||||||
Common
shares outstanding at year-end (000s)
|
110,656 | 110,449 | 110,359 | 116,127 | 117,036 | |||||||||||||||
Dividends
declared per common share
|
$ | 1.50 | $ | 1.40 | $ | 1.27 | $ | 1.15 | $ | 1.05 | ||||||||||
Market
value per share at year-end
|
$ | 30.26 | $ | 29.18 | $ | 40.69 | $ | 37.77 | $ | 28.04 | ||||||||||
Book
value per share at year-end
|
$ | 25.06 | $ | 25.56 | $ | 24.30 | $ | 22.83 | $ | 20.85 | ||||||||||
Market
capitalization at year-end
|
$ | 3,348.5 | $ | 3,222.9 | $ | 4,490.5 | $ | 4,386.1 | $ | 3,281.7 | ||||||||||
Other
Selected Financial Data:
|
||||||||||||||||||||
Cash
flows from operating activities
|
$ | 657.1 | $ | 338.2 | $ | 607.5 | $ | 422.0 | $ | 584.1 | ||||||||||
Construction
and acquisition expenditures
|
$ | 1,202.6 | $ | 879.0 | $ | 542.0 | $ | 399.0 | $ | 538.1 | ||||||||||
Total
assets at year-end
|
$ | 9,036.0 | $ | 8,201.5 | $ | 7,189.7 | $ | 7,084.1 | $ | 7,733.1 | ||||||||||
Long-term
obligations, net
|
$ | 2,512.2 | $ | 1,887.1 | $ | 1,547.1 | $ | 1,520.7 | $ | 2,147.0 | ||||||||||
Times
interest earned before income taxes (b)
|
1.78 | X | 4.49 | X | 6.99 | X | 4.84 | X | 1.13 | X | ||||||||||
Capitalization
ratios:
|
||||||||||||||||||||
Common
equity
|
49 | % | 56 | % | 59 | % | 58 | % | 48 | % | ||||||||||
Preferred
stock
|
4 | % | 5 | % | 5 | % | 5 | % | 5 | % | ||||||||||
Long-
and short-term debt
|
47 | % | 39 | % | 36 | % | 37 | % | 47 | % | ||||||||||
Total
|
100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||
(a) Refer to
"Alliant Energy's Results of Operations" in MDA for discussion of the
2009, 2008 and 2007 results of
|
||||||||||||||||||||
operations. | ||||||||||||||||||||
(b) Represents
the sum of income from continuing operations before income taxes plus
interest expense, divided by interest
|
||||||||||||||||||||
expense. The
calculation does not consider the "Loss on early extinguishment of debt"
that Alliant Energy has incurred
|
||||||||||||||||||||
as
part of interest expense.
|
IPL
|
2009
(a)
|
2008
(a)
|
2007
(a)
|
2006
|
2005
|
|||||||||||||||
(in
millions)
|
||||||||||||||||||||
Operating
revenues
|
$ | 1,708.0 | $ | 1,758.0 | $ | 1,695.9 | $ | 1,754.8 | $ | 1,681.7 | ||||||||||
Earnings available
for common stock
|
137.6 | 126.2 | 274.9 | 157.0 | 149.7 | |||||||||||||||
Cash dividends
declared on common stock
|
-- | 29.1 | 609.9 | 219.8 | 109.9 | |||||||||||||||
Cash flows from
operating activities
|
373.2 | 113.7 | 257.4 | 272.2 | 332.0 | |||||||||||||||
Total
assets
|
4,892.2 | 4,210.9 | 3,362.0 | 3,628.6 | 3,976.6 | |||||||||||||||
Long-term
obligations, net
|
1,160.9 | 996.8 | 765.4 | 895.0 | 993.4 |
WPL
|
2009
(a)
|
2008
(a)
|
2007
(a)
|
2006
|
2005
|
|||||||||||||||
(in
millions)
|
||||||||||||||||||||
Operating
revenues
|
$ | 1,386.1 | $ | 1,465.8 | $ | 1,416.8 | $ | 1,401.3 | $ | 1,409.6 | ||||||||||
Earnings available
for common stock
|
86.2 | 115.1 | 110.2 | 102.0 | 101.8 | |||||||||||||||
Cash dividends
declared on common stock
|
91.0 | 91.3 | 191.1 | 92.2 | 89.8 | |||||||||||||||
Cash flows from
operating activities
|
305.8 | 239.7 | 258.0 | 162.6 | 176.6 | |||||||||||||||
Total
assets
|
3,681.4 | 3,265.5 | 2,788.6 | 2,699.1 | 2,667.6 | |||||||||||||||
Long-term
obligations, net
|
1,146.3 | 899.0 | 715.7 | 524.5 | 526.4 |
ITEM
7.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (MDA) |
Alliant
Energy
|
|||||||
Utility
|
Non-regulated
(Resources)
|
Parent and
Other
|
|||||
-
IPL (Utility
services in IA & MN)
|
-
RMT (including WindConnect®)
|
-
Parent Company
|
|||||
-
WPL (Utility
services in WI)
|
-
Transportation
|
-
Corporate Services
|
|||||
-
WPL’s interest in ATC
|
-
Non-regulated Generation
|
2009
|
2008
|
|||||||
Income from
continuing operations
|
$ | 1.01 | $ | 2.54 | ||||
Income from
discontinued operations
|
-- | 0.07 | ||||||
Net
income
|
$ | 1.01 | $ | 2.61 |
2009
|
2008
|
|||||||||||||||
Continuing
operations:
|
Net
Income
|
EPS
|
Net
Income
|
EPS
|
||||||||||||
Utility
|
$ | 223.8 | $ | 2.03 | $ | 241.3 | $ | 2.19 | ||||||||
Non-regulated
(Resources)
|
10.5 | 0.10 | 29.3 | 0.27 | ||||||||||||
Parent company and other
|
(123.6 | ) | (1.12 | ) | 9.4 | 0.08 | ||||||||||
Income from
continuing operations
|
110.7 | 1.01 | 280.0 | 2.54 | ||||||||||||
Income from
discontinued operations
|
0.3 | -- | 8.0 | 0.07 | ||||||||||||
Net
income
|
$ | 111.0 | $ | 1.01 | $ | 288.0 | $ | 2.61 |
·
|
higher transmission
service and pension costs at IPL;
|
·
|
lower electric sales
demand resulting from historically cool weather during the summer of
2009;
|
·
|
higher depreciation
and interest expense as a result of planned capital
expenditures;
|
·
|
lower electric sales
demand from industrial customers resulting from unfavorable economic
conditions in 2009;
|
·
|
$0.11 per share of
income tax benefits recognized in 2008 related to a U.S. federal income
tax audit;
|
·
|
$0.10 per share of
charges incurred in 2009 for proposed coal plants;
and
|
·
|
$0.07 per share of
restructuring costs incurred in 2009 related to the elimination of certain
corporate and operations positions.
|
·
|
$0.32 per share of
state income tax benefits in 2009 related to combined reporting for
corporate income taxation in Wisconsin enacted in 2009 and a decision by
management to allow WPL to do business in
Iowa;
|
·
|
higher electric
revenues at IPL resulting from an interim retail electric rate increase
effective March 2009;
|
·
|
impacts on margins
and expenses from the severe Midwest flooding in
2008;
|
·
|
impacts of cost
saving initiatives implemented in
2009;
|
·
|
allowance for funds
used during construction (AFUDC) for IPL’s Whispering Willow - East wind
project in 2009; and
|
·
|
$0.04 per share of
regulatory-related credits in 2009 for the recovery of 2008 flood
costs.
|
·
|
lower earnings at
RMT resulting from reduced construction activity for wind projects;
and
|
·
|
$0.05 per share of
state income tax expense in 2009 related to combined reporting for
corporate income taxation in Wisconsin enacted in
2009.
|
·
|
a $1.16 per share
loss incurred in 2009 on the early extinguishment of Alliant Energy’s
Exchangeable Senior Notes due 2030;
and
|
·
|
lower interest
income caused by lower average balances of cash and cash equivalents and
lower interest rates on money market fund
investments.
|
·
|
March 2009 - WPL
acquired approximately 400 megawatts (MW) of wind site capacity in
Freeborn County, Minnesota and the development rights for an approximately
100 MW wind project site near Green Lake, Wisconsin. WPL plans
to use 200 MW of the capacity from the wind project site in Freeborn
County, Minnesota for its Bent Tree - Phase I wind
project.
|
·
|
April 2009 - WPL and
its co-owners filed a certificate of authority with the Public Service
Commission of Wisconsin (PSCW) to install emission controls at the
Columbia Energy Center (Columbia) to reduce sulfur dioxide (SO2) and
mercury emissions.
|
·
|
June 2009 - WPL
acquired the Neenah Energy Facility and related assets from Resources for
$92 million.
|
·
|
July 2009 - WPL
received an order from the PSCW approving construction of the 200 MW Bent
Tree -Phase I wind project.
|
·
|
October 2009 - WPL
received an order from the Minnesota Public Utilities Commission (MPUC)
approving the Site Permit and Certificate of Need applications for the 200
MW Bent Tree - Phase I wind
project.
|
·
|
December 2009 -
IPL’s 200 MW Whispering Willow - East wind project located in Franklin
County, Iowa was fully commercially
operational.
|
·
|
December 2009 - WPL
and Wisconsin Electric Power Company (WEPCO) entered into a contingent
agreement for WPL to purchase WEPCO’s 25% ownership interest in Edgewater
Generating Station Unit 5 (Edgewater Unit
5).
|
·
|
December 2009 - As
of Dec. 31, 2009, WPL had completed approximately 90% of its Advanced
Metering Infrastructure (AMI) by installing over 560,000 AMI electric
meters and gas modules in its service
territory.
|
·
|
March 2009 - IPL
implemented an interim retail electric rate increase for its Iowa retail
customers equivalent to approximately $84 million on an annual
basis.
|
·
|
September 2009 - The
PSCW set WPL’s retail electric fuel rates currently in effect subject to
refund beginning Sep. 1, 2009 as a result of lower than expected fuel
costs incurred by WPL. In January 2010, WPL filed a retail
electric fuel refund report indicating retail fuel over collections of $4
million for the final four months of
2009.
|
·
|
November 2009 -
Legislation (2009 Assembly Bill 600) was introduced in Wisconsin to change
statutes related to the process by which utilities recover electric
fuel-related costs from their retail electric
customers.
|
·
|
December 2009 - WPL
received an order from the PSCW authorizing an annual retail electric rate
increase of $59 million, or approximately 6%, and an annual retail natural
gas rate increase of $6 million, or approximately 2%, effective January
2010. The order also authorized WPL to recover a portion of the
previously deferred costs for the cancelled Nelson Dewey #3 project and
certain deferred benefits costs incurred by WPL in
2009.
|
·
|
January 2010 - IPL
received an order from the Iowa Utilities Board (IUB) authorizing a final
annual retail electric rate increase of $84 million, or approximately 7%,
plus the use of a portion of IPL’s regulatory liabilities to offset costs
related to the cancelled Sutherland #4 project and future transmission
service costs. The order also authorized IPL to recover $8
million of flood-related costs incurred in 2008. Lastly, the
IUB deferred the decision on IPL’s proposal to implement an automatic cost
recovery rider for transmission costs until IPL’s next rate
case.
|
·
|
April 2009 - The
U.S. Supreme Court granted the U.S. Environmental Protection Agency (EPA)
authority to use a cost-benefit analysis when setting technology-based
requirements under Section 316(b) of the Federal Clean Water Act (Section
316(b)). A revised Section 316(b) rule reflecting the U.S.
Supreme Court’s decision is anticipated to be proposed by the EPA in
2010.
|
·
|
October 2009 - The
EPA published the proposed greenhouse gas (GHG) Tailoring rule, which
could require large industrial facilities to obtain permits that
demonstrate use of Best Available Control Technologies (BACT) and energy
efficiency measures to minimize GHG emissions when facilities are
constructed or significantly
modified.
|
·
|
October 2009 - WPL
received from the Sierra Club a notice of intent to file a civil lawsuit
(NOI) based on allegations that modifications were made at the Nelson
Dewey Generating Station (Nelson Dewey) and Columbia without complying
with air permitting requirements. In December 2009, the Sierra
Club sent a separate NOI to WPL containing similar allegations regarding
the Edgewater Generating Station (Edgewater). WPL and the other
owners of Columbia and Edgewater are exploring settlement options with the
Sierra Club while simultaneously defending against these
actions.
|
·
|
November 2009 - The
EPA issued a final rule staying the application of the Clean Air
Interstate Rule (CAIR) annual SO2 and nitrogen oxide (NOx) programs for
Minnesota.
|
·
|
December 2009 - The
EPA’s Mandatory GHG Reporting rule became effective, which requires
electric utilities, among other companies, to monitor and report annual
levels of GHG emissions beginning with calendar year
2010.
|
·
|
December 2009 - The
EPA published a proposed rule that would establish a new one-hour National
Ambient Air Quality Standard (NAAQS) for SO2 and associated monitoring
requirements. The final standard is expected by June 2010 and
final designations of non-attainment areas are expected to be issued by
June 2012.
|
·
|
December 2009 - The
EPA sent a Notice of Violation (NOV) to WPL as an owner and the operator
of Nelson Dewey, Columbia and Edgewater. The NOV alleges that
the owners failed to comply with appropriate pre-construction review and
permitting requirements. WPL and the other owners of Columbia
and Edgewater are exploring settlement options with the EPA while
simultaneously defending against these
actions.
|
·
|
December 2009 - The
EPA issued a final rule finding that concentrations of GHG emissions in
the atmosphere threaten public health and welfare and that emissions from
motor vehicles contribute to atmospheric concentrations of GHG emissions
and hence to the threat of climate
change.
|
·
|
January 2010 - The
Wisconsin Department of Natural Resources (DNR) issued a state thermal
rule, subject to EPA approval, regulating the amount of heat that
generating facilities can discharge into Wisconsin
waters.
|
·
|
January 2010 - The
EPA issued a proposal to reduce the primary NAAQS standard for ozone and
establish a new seasonal secondary standard for ozone. The
final rule is expected to be issued by August 2010 and final designations
of non-attainment areas are expected to be issued by August
2011.
|
·
|
January 2010 - The
EPA issued a final rule to strengthen the primary NAAQS for NOx as
measured by nitrogen dioxide (NO2). The EPA expects to
designate non-attainment areas for the new NO2 standard by January
2012.
|
·
|
January 2010 - The
EPA issued an information collection request for coal- and oil-fired
electric utility steam generation units over 25 MW in order to develop a
proposed Utility Maximum Available Control Technology (MACT) standard for
the control of mercury and other federal hazardous air
pollutants. The EPA is currently negotiating a consent decree
that could require the agency to propose Utility MACT standards no later
than March 2011 and promulgate final standards no later than November
2011.
|
·
|
February 2009 - The
American Recovery and Reinvestment Act of 2009 (ARRA) was
enacted. The most significant provisions of the ARRA for
Alliant Energy, IPL and WPL provide a one-year extension of the 50% bonus
depreciation deduction for certain expenditures for property that is
acquired or constructed in 2009, incentives for wind facilities placed in
service by Dec. 31, 2012 and grants for qualifying investments that are
expected to improve the electric grid and transportation
infrastructure.
|
·
|
February 2009 - The
Wisconsin Senate Bill 62 (SB 62) was enacted. The most
significant provision of SB 62 for Alliant Energy, IPL and WPL requires
combined reporting for corporate income taxation in Wisconsin beginning
with tax returns filed for the calendar year
2009.
|
·
|
June 2009 - The U.S.
House of Representatives (House) approved H.R. 2454. H.R. 2454
contains a proposed cap-and-trade GHG emissions reduction
program.
|
·
|
November / December
2009 - The House and the U.S. Senate passed different versions of proposed
healthcare legislation. Both versions contain a provision that
would eliminate the non-taxable status of the 28% subsidy provided to
employers who continue prescription drug coverage for their
retirees.
|
·
|
December 2009 - The
House approved H.R. 4173. The most significant provision of
H.R. 4173 for Alliant Energy, IPL and WPL may require them to post large
volumes of cash collateral related to their derivative
instruments.
|
·
|
June 2009 - IPL’s
and WPL’s respective shelf registration statements became effective, which
provided IPL and WPL the flexibility to offer up to an aggregate of $650
million and $700 million, respectively, of preferred stock and unsecured
debt securities from June 2009 through June
2012.
|
·
|
June 2009 - MPUC
approved IPL’s annual capital structure filing, which provides
authorization for IPL to issue debt securities during the 12 months ended
June 30, 2010 as long as IPL maintains total capitalization (including
short-term debt) below $3.11 billion and a common equity ratio between
41.3% and 50.5% during such period. The annual capital
structure filing limits IPL’s short-term borrowings to a maximum of $300
million outstanding at any time during the 12 months ended June 30,
2010.
|
·
|
July 2009 - WPL
received authorization from the PSCW to issue long-term debt securities of
no more than $350 million in 2010.
|
·
|
July 2009 - IPL
issued $300 million of 6.25% senior debentures due 2039 and WPL issued
$250 million of 5% debentures due 2019. Proceeds from these
issuances were used to repay short-term debt and invest in short-term
assets.
|
·
|
August 2009 - IPL
paid at maturity $135 million of its 6.625% senior
debentures.
|
·
|
September 2009 -
Alliant Energy’s shelf registration became effective, which provides
Alliant Energy flexibility to offer from time to time an unspecified
amount of common stock, senior notes and other securities from September
2009 through September 2012.
|
·
|
September 2009 -
Alliant Energy announced a tender offer and consent solicitation for its
Exchangeable Senior Notes due 2030 (Notes). In 2009, Alliant
Energy repurchased 5,940,660 Notes for $241 million. As of Dec.
31, 2009, there were 300 Notes
outstanding.
|
·
|
October 2009 -
Alliant Energy issued $250 million of 4% senior notes due 2014 and used
the proceeds to repay a short-term loan used for the repurchase of the
Notes and for general corporate
purposes.
|
·
|
December 2009 - IPL
received authorization from FERC to issue up to $900 million of long-term
debt securities, $750 million of short-term debt securities and $200
million of preferred stock during 2010 and
2011.
|
·
|
December 2009 - At
Dec. 31, 2009, Alliant Energy and its subsidiaries had $433 million of
available capacity under their revolving credit facilities and $175
million of cash and cash
equivalents.
|
·
|
January 2010 -
Alliant Energy announced an increase in its expected annual common stock
dividend from $1.50 per share to $1.58 per share, which is equivalent to a
rate of $0.395 per share per quarter, beginning with the Feb. 12, 2010
dividend payment.
|
·
|
Utility
generation plans - include building or acquiring electric
generating facilities to meet customer demand and renewable portfolio
standards, reduce reliance on purchased power and mitigate any impacts of
future plant retirements. Alliant Energy’s proposed new
electric generating facilities have a diversified fuel mix and currently
include wind projects in the Midwest and a natural gas-fired generating
facility in Wisconsin. Alliant Energy, IPL and WPL believe a
diversified fuel mix for new electric generating facilities is important
to meeting the needs of their customers, shareowners and the environment
while preparing for a potentially carbon-constrained environment in the
future. Additional details of new electric generating
facilities are included in “Utility Generation Plans”
below.
|
·
|
Environmental
compliance plans - include implementing emission controls at IPL’s
and WPL’s existing fleet of electric generating facilities to meet current
and proposed environmental regulations issued by the EPA and state
environmental agencies. After implementation, IPL’s and WPL’s
new emission controls are expected to significantly reduce future
emissions of NOx, SO2 and mercury at their generating
facilities. Additional details regarding proposed new emission
controls are included in “Environmental Compliance Plans”
below.
|
·
|
Energy
efficiency programs - include implementing IPL’s Energy Efficiency
Plan in Iowa, contributing to Wisconsin’s Focus on Energy program,
continuing IPL’s and WPL’s Shared Savings programs in Minnesota and
Wisconsin and installing AMI as a platform for Smart Grid initiatives in
IPL’s and WPL’s utility service territories. Additional details
of energy efficiency plans are included in “Energy Efficiency Programs”
below.
|
Primary
|
Expected
|
Current
|
Actual
/ Expected
|
|||||||||||||||||||
Generation
|
Project
Name /
|
Capacity
|
Availability
|
Cost
|
Capitalized
|
Regulatory
|
||||||||||||||||
Type
|
Location
|
(MW)
|
Date
|
Estimate
(a)
|
Costs
(b)
|
Decision
Date
|
||||||||||||||||
IPL:
|
||||||||||||||||||||||
Wind
|
Whispering Willow -
West
|
100 | 2012 | $ | 225 - $275 | $ | 29 |
TBD
|
||||||||||||||
Franklin County,
IA
|
||||||||||||||||||||||
WPL:
|
||||||||||||||||||||||
Wind
|
Bent Tree - Phase
I
|
200 |
Q4 2010
and
|
425 - 460 | 162 |
October
2009
|
||||||||||||||||
Freeborn County,
MN
|
Q1 2011 | |||||||||||||||||||||
Natural-gas
|
Riverside Energy
Center
|
600 | 2013 | 365 - 375 | N/A | 2012 - 2013 | ||||||||||||||||
Beloit,
WI
|
||||||||||||||||||||||
$ | 191 |
Generating
Unit
|
Emissions
Controlled
|
Technology
(a)
|
2010
|
2011
|
2012
|
|||||||||||
IPL:
|
||||||||||||||||
Lansing Unit 4
|
NOx
and Mercury
|
SCR and
Baghouse
|
$ | 55 | $ | -- | $ | -- | ||||||||
Ottumwa
|
Mercury
|
Baghouse
|
5 | 30 | 30 | |||||||||||
60 | 30 | 30 | ||||||||||||||
WPL:
|
||||||||||||||||
Edgewater Unit 5
|
NOx
|
SCR
|
15 | 40 | 45 | |||||||||||
Columbia
|
SO2
and Mercury
|
Scrubber and
Baghouse
|
20 | 100 | 125 | |||||||||||
35 | 140 | 170 | ||||||||||||||
Alliant Energy
|
$ | 95 | $ | 170 | $ | 200 |
|
(a) Selective
Catalytic Reduction (SCR) is a post-combustion process that injects
ammonia or urea into the stream of gases leaving the generating facility
boiler to convert NOx emissions into nitrogen and water. The
use of a catalyst enhances the effectiveness of the conversion enabling
NOx emissions reductions of up to
90%.
|
|
Baghouse
/ carbon injection process is a post-combustion process that
injects carbon particles into the stream of gases leaving the generating
facility boiler to facilitate the capture of mercury in filters or
bags. A baghouse / carbon injection process can remove more
than 85% of mercury emissions.
|
|
Scrubber
is a post-combustion process that injects lime or lime slurry into
the stream of gases leaving the generating facility boiler to remove SO2
and capture it in a solid or liquid waste by-product. A
scrubber typically removes more than 90% of the SO2 emissions regardless
of generating facility boiler type or
design.
|
Interim
|
Final
|
Return
|
||||||||||||||||||||
Increase
|
Interim
|
Increase
|
Final
|
on
|
||||||||||||||||||
Utility
|
Filing
|
Implemented
|
Effective
|
(Decrease)
|
Effective
|
Common
|
||||||||||||||||
Retail
Base Rate Cases
|
Type
|
Date
|
(a)
|
Date
|
Granted
|
Date
|
Equity
|
|||||||||||||||
WPL:
|
||||||||||||||||||||||
2010 Test Year
|
E/G |
May-09
|
N/A | N/A | E-$59; G-$6 |
Jan-10
|
10.40 | % | ||||||||||||||
2009/2010 Test Period
|
E/G |
Feb-08
|
N/A | N/A | G-(4) |
Jan-09
|
N/A | |||||||||||||||
2008 Test Year
|
E |
Apr-07
|
N/A | N/A | 26 |
Jan-08
|
N/A | |||||||||||||||
IPL:
|
||||||||||||||||||||||
Iowa 2008 Test Year
|
E |
Mar-09
|
$ | 84 |
Mar-09
|
84 |
Feb-10
|
10.50 | % |
·
|
Return on common
equity of 10.4%
|
·
|
Regulatory capital
structure comprised of 50.4% common equity, 43.3% long-term debt, 3.9%
short-term debt and 2.4% preferred
equity
|
·
|
Weighted average
cost of capital of 8.18%
|
·
|
2010 average rate
base of $1.38 billion for retail electric and $0.21 billion for retail
natural gas.
|
·
|
Return on common
equity of 10.5% for all non-Emery Generating Station-related
capital
|
·
|
Regulatory capital
structure comprised of 49.5% common equity, 43.5% long-term debt and 7.0%
preferred equity
|
·
|
Weighted average
cost of capital of 8.76% for all non-Emery Generating Station-related
capital
|
·
|
2008 average rate
base of $1.82 billion for retail
electric.
|
Authorized
|
Authorized
|
|||||
Return
on
|
Return
on
|
|||||
IPL’s
Jurisdictions
|
Common
Equity
|
WPL’s
Jurisdictions
|
Common
Equity
|
|||
Iowa
retail (IUB):
|
Wisconsin
retail (PSCW):
|
|||||
Electric - Emery
Generating Station
|
12.23%
|
Electric
|
10.40%
|
|||
Electric -
Whispering Willow - East
|
11.70%
|
Gas
|
10.40%
|
|||
Electric -
Other
|
10.50%
|
Wholesale
(FERC):
|
||||
Gas
|
10.40%
|
Electric
|
10.90%
|
|||
Minnesota
retail (MPUC):
|
||||||
Electric
|
10.39%
|
|||||
Gas
|
10.75%
|
Revenues and Costs
(dollars in millions)
|
MWhs Sold (MWhs in
thousands)
|
|||||||||||||||||||||||||||||||||||||||
2009
|
2008
|
(a)
|
2007
|
(b)
|
2009
|
2008
|
(a)
|
2007
|
(b)
|
|||||||||||||||||||||||||||||||
Residential
|
$ | 868.6 | $ | 844.7 | 3 | % | $ | 847.5 | -- | 7,532 | 7,664 | (2 | %) | 7,753 | (1 | %) | ||||||||||||||||||||||||
Commercial
|
556.8 | 537.5 | 4 | % | 535.2 | -- | 6,108 | 6,181 | (1 | %) | 6,222 | (1 | %) | |||||||||||||||||||||||||||
Industrial
|
710.7 | 734.7 | (3 | %) | 731.9 | -- | 10,948 | 12,490 | (12 | %) | 12,692 | (2 | %) | |||||||||||||||||||||||||||
Retail subtotal
|
2,136.1 | 2,116.9 | 1 | % | 2,114.6 | -- | 24,588 | 26,335 | (7 | %) | 26,667 | (1 | %) | |||||||||||||||||||||||||||
Sales for
resale:
|
||||||||||||||||||||||||||||||||||||||||
Wholesale
|
190.1 | 201.9 | (6 | %) | 179.8 | 12 | % | 3,251 | 3,813 | (15 | %) | 3,547 | 7 | % | ||||||||||||||||||||||||||
Bulk power and other
|
98.3 | 31.1 | 216 | % | 56.7 | (45 | %) | 2,583 | 983 | 163 | % | 2,550 | (61 | %) | ||||||||||||||||||||||||||
Other (includes
wheeling)
|
51.4 | 61.4 | (16 | %) | 59.7 | 3 | % | 155 | 164 | (5 | %) | 167 | (2 | %) | ||||||||||||||||||||||||||
Total revenues/sales
|
2,475.9 | 2,411.3 | 3 | % | 2,410.8 | -- | 30,577 | 31,295 | (2 | %) | 32,931 | (5 | %) | |||||||||||||||||||||||||||
Electric production
fuel expense
|
388.5 | 424.0 | (8 | %) | 478.9 | (11 | %) | |||||||||||||||||||||||||||||||||
Energy purchases
expense
|
502.9 | 419.1 | 20 | % | 343.9 | 22 | % | |||||||||||||||||||||||||||||||||
Purchased electric
capacity expense
|
281.1 | 285.7 | (2 | %) | 298.9 | (4 | %) | |||||||||||||||||||||||||||||||||
Margins
|
$ | 1,303.4 | $ | 1,282.5 | 2 | % | $ | 1,289.1 | (1 | %) |
2009
|
2008
|
2007
|
||||||||||
Weather impacts on
demand compared to normal weather
|
$ | (36 | ) | $ | (11 | ) | $ | 9 | ||||
Gains (losses) from
weather derivatives (a)
|
(3 | ) | 5 | (5 | ) | |||||||
Net weather impact
|
$ | (39 | ) | $ | (6 | ) | $ | 4 |
Actual
|
|||||||
CDD
(a):
|
2009
|
2008
|
2007
|
Normal
(a)
|
|||
Cedar Rapids, Iowa
(IPL)
|
406
|
583
|
846
|
779
|
|||
Madison, Wisconsin
(WPL)
|
368
|
538
|
781
|
642
|
2009
|
2008
|
2007
|
||||||||||
DAEC PPA
(IPL)
|
$ | 140 | $ | 134 | $ | 132 | ||||||
Kewaunee PPA
(WPL)
|
74 | 62 | 70 | |||||||||
Riverside PPA
(WPL)
|
57 | 56 | 57 | |||||||||
RockGen PPA (WPL) -
Expired May 2009
|
7 | 16 | 16 | |||||||||
Flood-related PPA
(IPL) - Summer of 2008 only (a)
|
(4 | ) | 6 | -- | ||||||||
Minnesota Power PPA
(WPL) - Expired December 2007
|
-- | -- | 16 | |||||||||
Other
|
7 | 12 | 8 | |||||||||
$ | 281 | $ | 286 | $ | 299 |
2010
|
2011
|
2012
|
2013
|
2014
|
Total
|
|||||||||||||||||||
DAEC PPA
(IPL)
|
$ | 143 | $ | 146 | $ | 152 | $ | 154 | $ | 28 | $ | 623 | ||||||||||||
Kewaunee PPA
(WPL)
|
73 | 51 | 60 | 63 | -- | 247 | ||||||||||||||||||
Riverside PPA
(WPL)
|
58 | 59 | 60 | 17 | -- | 194 | ||||||||||||||||||
$ | 274 | $ | 256 | $ | 272 | $ | 234 | $ | 28 | $ | 1,064 |
2009
|
2008
|
2007
|
||||||||||
IPL
|
$ | (6 | ) | $ | 3 | $ | (2 | ) | ||||
WPL
|
5 | -- | (4 | ) | ||||||||
Alliant Energy
|
$ | (1 | ) | $ | 3 | $ | (6 | ) |
Revenues and Costs
(dollars in millions)
|
Dths Sold (Dths in
thousands)
|
|||||||||||||||||||||||||||||||||||||||
2009
|
2008
|
(a)
|
2007
|
(b)
|
2009
|
2008
|
(a)
|
2007
|
(b)
|
|||||||||||||||||||||||||||||||
Residential
|
$ | 290.8 | $ | 385.0 | (24 | %) | $ | 348.6 | 10 | % | 27,711 | 30,630 | (10 | %) | 28,137 | 9 | % | |||||||||||||||||||||||
Commercial
|
174.7 | 240.5 | (27 | %) | 199.0 | 21 | % | 20,725 | 22,461 | (8 | %) | 19,417 | 16 | % | ||||||||||||||||||||||||||
Industrial
|
30.7 | 51.1 | (40 | %) | 39.4 | 30 | % | 4,558 | 5,558 | (18 | %) | 4,694 | 18 | % | ||||||||||||||||||||||||||
Retail subtotal
|
496.2 | 676.6 | (27 | %) | 587.0 | 15 | % | 52,994 | 58,649 | (10 | %) | 52,248 | 12 | % | ||||||||||||||||||||||||||
Interdepartmental
|
4.9 | 7.8 | (37 | %) | 17.4 | (55 | %) | 938 | 1,373 | (32 | %) | 2,591 | (47 | %) | ||||||||||||||||||||||||||
Transportation/other
|
24.2 | 26.0 | (7 | %) | 25.8 | 1 | % | 53,580 | 59,253 | (10 | %) | 58,911 | 1 | % | ||||||||||||||||||||||||||
Total revenues/sales
|
525.3 | 710.4 | (26 | %) | 630.2 | 13 | % | 107,512 | 119,275 | (10 | %) | 113,750 | 5 | % | ||||||||||||||||||||||||||
Cost of gas
sold
|
347.9 | 519.6 | (33 | %) | 441.1 | 18 | % | |||||||||||||||||||||||||||||||||
Margins
|
$ | 177.4 | $ | 190.8 | (7 | %) | $ | 189.1 | 1 | % |
2009
|
2008
|
2007
|
||||||||||
Weather impacts on
demand compared to normal weather
|
$ | 3 | $ | 12 | $ | -- | ||||||
Losses from weather
derivatives (a)
|
(3 | ) | (5 | ) | (4 | ) | ||||||
Net weather impact
|
$ | -- | $ | 7 | $ | (4 | ) |
Actual
|
|||||||
HDD
(a):
|
2009
|
2008
|
2007
|
Normal
(a)
|
|||
Cedar Rapids, Iowa (IPL)
|
7,074
|
7,636
|
6,815
|
6,732
|
|||
Madison, Wisconsin (WPL)
|
7,356
|
7,714
|
6,935
|
7,095
|
2009
|
2008
|
2007
|
||||||||||
RMT
|
$ | 294 | $ | 397 | $ | 263 | ||||||
Transportation
|
35 | 36 | 32 | |||||||||
Non-regulated
Generation
|
7 | 25 | 27 | |||||||||
Other
|
3 | -- | 3 | |||||||||
$ | 339 | $ | 458 | $ | 325 |
Alliant
|
||||||||||||
Energy
|
IPL
|
WPL
|
||||||||||
Incremental expenses
incurred in 2008 related to severe flooding
|
$ | (29 | ) | $ | (29 | ) | $ | -- | ||||
Deferral of retail
pension and other benefits costs in 2009 (a)
|
(12 | ) | -- | (12 | ) | |||||||
Lower electric
generation maintenance expenses (b)
|
(10 | ) | (10 | ) | -- | |||||||
Lower steam fuel,
operation and maintenance expenses (c)
|
(9 | ) | (9 | ) | -- | |||||||
Lower
incentive-related compensation (d)
|
(6 | ) | (3 | ) | (3 | ) | ||||||
Regulatory-related
credits in 2009 related to 2008 flood costs (a)
|
(4 | ) | (4 | ) | -- | |||||||
Regulatory-related
charges in 2008 related to Nelson Dewey #3 project (a)
|
(4 | ) | -- | (4 | ) | |||||||
Higher pension and
other postretirement benefits costs (e)
|
33 | 18 | 15 | |||||||||
Restructuring
charges in 2009 (f)
|
11 | 4 | 7 | |||||||||
Regulatory-related
charges in 2009 related to Nelson Dewey #3 project (a)
|
11 | -- | 11 | |||||||||
Incremental expenses
incurred in 2009 related to severe flooding (g)
|
7 | 7 | -- | |||||||||
Higher energy
conservation expenses (h)
|
5 | 5 | -- | |||||||||
Charges in 2009
related to a settlement with Sutherland #4 joint partners
(i)
|
4 | 4 | -- | |||||||||
Loss contingency
reserve in 2009 for Cash Balance Plan lawsuit (j)
|
4 | 2 | 2 | |||||||||
Steam asset
impairment in 2009 (k)
|
4 | 4 | -- | |||||||||
Other (includes
impact of cost saving initiatives) (l)
|
(26 | ) | (12 | ) | (14 | ) | ||||||
$ | (21 | ) | $ | (23 | ) | $ | 2 |
(a)
|
Refer to Note 1(b)
of Alliant Energy’s “Notes to Consolidated Financial Statements” for
details of WPL’s deferral of pension and benefits costs in 2009 and the
regulatory-related charges and credits related to the Nelson Dewey #3
project and flood-related costs incurred in
2008.
|
(b)
|
Primarily due to
several planned maintenance outages in
2008.
|
(c)
|
Resulting from the
additional costs incurred by IPL in 2008 to operate the temporary steam
generating systems used to resume service after its Prairie Creek and
Sixth Street Generating Stations were shut down due to severe
flooding.
|
(d)
|
Resulting from lower
performance levels in 2009 relative to the earnings and total shareowner
return metrics established within incentive
plans.
|
(e)
|
Net of the portion
allocated to capital projects and resulted from increased amortization of
actuarial losses and lower expected return on plan assets caused by
significant decreases in plan assets in
2008.
|
(f)
|
Related to the
elimination of certain corporate and operations positions, which Alliant
Energy estimates will have the impact of decreasing its annual salary
costs by approximately $16 million ($7 million at IPL and $9 million at
WPL).
|
(g)
|
Primarily related to
operating expenditures required to restore operations at IPL’s Prairie
Creek Generating Station that were not reimbursed under Alliant Energy’s
property insurance policy.
|
(h)
|
Changes in energy
conservation expenses were largely offset by changes in energy
conservation revenues.
|
(i)
|
Refer to Note 12(g)
of Alliant Energy’s “Notes to Consolidated Financial Statements” for
details.
|
(j)
|
Refer to Note 12(c)
of Alliant Energy’s “Notes to Consolidated Financial Statements” for
details.
|
(k)
|
Related to IPL’s
steam assets as a result of a decision in 2009 to discontinue providing
steam service to the portion of its steam customers located in downtown
Cedar Rapids, Iowa.
|
(l)
|
IPL and WPL
implemented several cost saving initiatives in 2009 to reduce other
operation and maintenance expenses, including, but not limited to, an
elimination of certain corporate and operations positions, a mandatory
one-week furlough for all non-bargaining and certain bargaining unit
employees in 2009 and suspension of a portion of 401(k) Savings Plan
contributions by Alliant Energy for the second half of
2009.
|
Alliant
|
||||||||||||
Energy
|
IPL
|
WPL
|
||||||||||
Incremental expenses
incurred in 2008 related to severe flooding (a)
|
$ | 29 | $ | 29 | $ | -- | ||||||
Higher fuel costs
for steam production (b)
|
21 | 21 | -- | |||||||||
Higher electric
generation planned outage costs (c)
|
8 | 8 | -- | |||||||||
Higher employee
health care costs (primarily due to higher claims)
|
8 | 3 | 5 | |||||||||
Higher expenses
related to coal sales
|
4 | 4 | -- | |||||||||
Higher bad debt
expenses (primarily due to economic conditions)
|
4 | 3 | 1 | |||||||||
Regulatory-related
charges in 2008 related to Nelson Dewey #3 project
|
4 | -- | 4 | |||||||||
Lower regulatory
liability amortizations
|
3 | -- | 3 | |||||||||
Lower
incentive-related compensation expenses (d)
|
(17 | ) | (10 | ) | (7 | ) | ||||||
Lower pension and
other postretirement benefits expenses (e)
|
(16 | ) | (9 | ) | (7 | ) | ||||||
Electric
transmission expenses at IPL in 2007 (prior to sale) (f)
|
(10 | ) | (10 | ) | -- | |||||||
Incremental expenses
incurred in 2007 related to winter storms (g)
|
(9 | ) | (9 | ) | -- | |||||||
Lower sale of
accounts receivable expenses (h)
|
(5 | ) | (5 | ) | -- | |||||||
Regulatory-related
charge in 2007
|
(4 | ) | -- | (4 | ) | |||||||
Other
|
5 | 4 | 1 | |||||||||
$ | 25 | $ | 29 | $ | (4 | ) |
(a)
|
Primarily due to
operating expenditures required to restore operations and impairments of
assets impacted by the flooding that were not reimbursed under Alliant
Energy’s property insurance policy.
|
(b)
|
Primarily due to
incremental fuel costs incurred in 2008 to resume steam production and
service in Cedar Rapids, Iowa after IPL’s Prairie Creek and Sixth Street
Generating Stations were shut down due to the severe
flooding.
|
(c)
|
Primarily due to
repairs and maintenance costs for IPL’s Sutherland and M.L. Kapp
Generating Stations in 2008.
|
(d)
|
Resulting from
higher performance levels in 2007 relative to the earnings and total
shareowner return metrics established within incentive
plans.
|
(e)
|
Primarily due to a
reduction in the amortization of actuarial losses and the impact of higher
funding levels of the qualified pension plans at the measurement date of
Sep. 30, 2007.
|
(f)
|
Expenses incurred
prior to the sale of IPL’s electric transmission assets in December
2007.
|
(g)
|
Includes
expenditures to restore operations of IPL’s electric transmission and
distribution system in its Iowa and Minnesota service
territories.
|
(h)
|
Largely due to IPL’s
use of a portion of the proceeds from the sale of its electric
transmission assets to reduce its level of accounts receivable sales in
December 2007.
|
2009
|
2008
|
2007
|
||||||||||
RMT
|
$ | 291 | $ | 370 | $ | 243 | ||||||
Transportation
|
17 | 19 | 16 | |||||||||
Non-regulated
Generation
|
3 | 10 | 7 | |||||||||
Other (includes
eliminations)
|
3 | (2 | ) | 5 | ||||||||
$ | 314 | $ | 397 | $ | 271 |
Alliant
|
||||||||||||
Energy
|
IPL
|
WPL
|
||||||||||
Interest expense
variances from certain issuances of long-term debt:
|
||||||||||||
WPL’s 7.6% debentures issued in October
2008
|
$ | 15 | $ | -- | $ | 15 | ||||||
IPL’s 7.25% senior debentures issued in
October 2008
|
14 | 14 | -- | |||||||||
IPL’s 6.25% senior debentures issued in
July 2009
|
9 | 9 | -- | |||||||||
WPL’s 5% debentures issued in July
2009
|
6 | -- | 6 | |||||||||
Alliant Energy’s 4% senior notes issued
in October 2009
|
3 | -- | -- | |||||||||
Interest expense
variances from certain reductions in long-term debt:
|
||||||||||||
IPL’s 6.625% senior debentures retired
in August 2009
|
(4 | ) | (4 | ) | -- | |||||||
WPL’s 5.7% debentures retired in October
2008
|
(3 | ) | -- | (3 | ) | |||||||
Corporate Services 4.55% senior notes
retired in October 2008
|
(3 | ) | -- | -- | ||||||||
Alliant Energy’s Exchangeable Senior
Notes retired in 2009
|
(3 | ) | -- | -- | ||||||||
Other (includes impact of lower
commercial paper interest rates)
|
(5 | ) | (4 | ) | (5 | ) | ||||||
$ | 29 | $ | 15 | $ | 13 |
Alliant
|
||||||||||||
Energy
|
IPL
|
WPL
|
||||||||||
Interest expense
variances from certain issuances of long-term debt:
|
||||||||||||
WPL’s 6.375% debentures issued in August
2007
|
$ | 12 | $ | -- | $ | 12 | ||||||
WPL’s 7.6% debentures issued in October
2008
|
5 | -- | 5 | |||||||||
IPL’s 7.25% senior debentures issued in
October 2008
|
4 | 4 | -- | |||||||||
Interest expense
variances from certain reductions in long-term debt:
|
||||||||||||
WPL’s 5.7% debentures retired in October
2008
|
(1 | ) | -- | (1 | ) | |||||||
Corporate Services 4.55% senior notes
retired in October 2008
|
(1 | ) | -- | -- | ||||||||
WPL’s 7% debentures retired in June
2007
|
(3 | ) | -- | (3 | ) | |||||||
IPL’s 6% collateral trust bonds retired
in November 2007
|
(3 | ) | (3 | ) | -- | |||||||
IPL’s 6.875% collateral trust bonds
retired in May 2007
|
(1 | ) | (1 | ) | -- | |||||||
Resources’ credit facility related to
Alliant Energy Neenah retired in March 2007
|
(1 | ) | -- | -- | ||||||||
Other (includes
impact of lower average short-term debt outstanding)
|
(2 | ) | (2 | ) | -- | |||||||
$ | 9 | $ | (2 | ) | $ | 13 |
Revenues and Costs
(dollars in millions)
|
MWhs Sold (MWhs in
thousands)
|
|||||||||||||||||||||||||||||||||||||||
2009
|
2008
|
(a)
|
2007
|
(b)
|
2009
|
2008
|
(a)
|
2007
|
(b)
|
|||||||||||||||||||||||||||||||
Residential
|
$ | 478.9 | $ | 455.2 | 5 | % | $ | 451.2 | 1 | % | 4,113 | 4,218 | (2 | %) | 4,204 | -- | ||||||||||||||||||||||||
Commercial
|
336.8 | 319.4 | 5 | % | 316.2 | 1 | % | 3,851 | 3,911 | (2 | %) | 3,912 | -- | |||||||||||||||||||||||||||
Industrial
|
412.5 | 407.0 | 1 | % | 402.0 | 1 | % | 6,829 | 7,742 | (12 | %) | 7,750 | -- | |||||||||||||||||||||||||||
Retail subtotal
|
1,228.2 | 1,181.6 | 4 | % | 1,169.4 | 1 | % | 14,793 | 15,871 | (7 | %) | 15,866 | -- | |||||||||||||||||||||||||||
Sales for
resale:
|
||||||||||||||||||||||||||||||||||||||||
Wholesale
|
23.5 | 23.4 | -- | 21.3 | 10 | % | 403 | 449 | (10 | %) | 406 | 11 | % | |||||||||||||||||||||||||||
Bulk power and other
|
37.3 | 21.1 | 77 | % | 42.2 | (50 | %) | 901 | 682 | 32 | % | 1,581 | (57 | %) | ||||||||||||||||||||||||||
Other (includes
wheeling)
|
26.6 | 32.2 | (17 | %) | 37.2 | (13 | %) | 84 | 90 | (7 | %) | 93 | (3 | %) | ||||||||||||||||||||||||||
Total revenues/sales
|
1,315.6 | 1,258.3 | 5 | % | 1,270.1 | (1 | %) | 16,181 | 17,092 | (5 | %) | 17,946 | (5 | %) | ||||||||||||||||||||||||||
Electric production
fuel expense
|
227.9 | 249.4 | (9 | %) | 308.9 | (19 | %) | |||||||||||||||||||||||||||||||||
Energy purchases
expense
|
212.2 | 159.5 | 33 | % | 96.4 | 65 | % | |||||||||||||||||||||||||||||||||
Purchased electric
capacity expense
|
136.5 | 140.6 | (3 | %) | 132.3 | 6 | % | |||||||||||||||||||||||||||||||||
Margins
|
$ | 739.0 | $ | 708.8 | 4 | % | $ | 732.5 | (3 | %) |
2009
|
2008
|
2007
|
||||||||||
Weather impacts on
demand compared to normal weather
|
$ | (25 | ) | $ | (10 | ) | $ | 4 | ||||
Gains (losses) from
weather derivatives (a)
|
(2 | ) | 4 | (2 | ) | |||||||
Net weather impact
|
$ | (27 | ) | $ | (6 | ) | $ | 2 |
Revenues and Costs
(dollars in millions)
|
Dths Sold (Dths in
thousands)
|
|||||||||||||||||||||||||||||||||||||||
2009
|
2008
|
(a)
|
2007
|
(b)
|
2009
|
2008
|
(a)
|
2007
|
(b)
|
|||||||||||||||||||||||||||||||
Residential
|
$ | 168.6 | $ | 219.3 | (23 | %) | $ | 203.4 | 8 | % | 16,072 | 18,110 | (11 | %) | 16,541 | 9 | % | |||||||||||||||||||||||
Commercial
|
100.8 | 137.3 | (27 | %) | 115.0 | 19 | % | 11,451 | 13,099 | (13 | %) | 11,080 | 18 | % | ||||||||||||||||||||||||||
Industrial
|
25.0 | 40.4 | (38 | %) | 31.2 | 29 | % | 3,787 | 4,539 | (17 | %) | 3,811 | 19 | % | ||||||||||||||||||||||||||
Retail subtotal
|
294.4 | 397.0 | (26 | %) | 349.6 | 14 | % | 31,310 | 35,748 | (12 | %) | 31,432 | 14 | % | ||||||||||||||||||||||||||
Interdepartmental
|
2.9 | 2.2 | 32 | % | 2.6 | (15 | %) | 474 | 217 | 118 | % | 327 | (34 | %) | ||||||||||||||||||||||||||
Transportation/other
|
11.5 | 11.2 | 3 | % | 12.3 | (9 | %) | 29,924 | 34,776 | (14 | %) | 34,433 | 1 | % | ||||||||||||||||||||||||||
Total revenues/sales
|
308.8 | 410.4 | (25 | %) | 364.5 | 13 | % | 61,708 | 70,741 | (13 | %) | 66,192 | 7 | % | ||||||||||||||||||||||||||
Cost of gas
sold
|
209.8 | 306.0 | (31 | %) | 266.1 | 15 | % | |||||||||||||||||||||||||||||||||
Margins
|
$ | 99.0 | $ | 104.4 | (5 | %) | $ | 98.4 | 6 | % |
2009
|
2008
|
2007
|
||||||||||
Weather impacts on
demand compared to normal weather
|
$ | 2 | $ | 8 | $ | 1 | ||||||
Losses from weather
derivatives (a)
|
(2 | ) | (3 | ) | (2 | ) | ||||||
Net weather impact
|
$ | -- | $ | 5 | $ | (1 | ) |
Revenues and Costs
(dollars in millions)
|
MWhs Sold (MWhs in
thousands)
|
|||||||||||||||||||||||||||||||||||||||
2009
|
2008
|
(a)
|
2007
|
(b)
|
2009
|
2008
|
(a)
|
2007
|
(b)
|
|||||||||||||||||||||||||||||||
Residential
|
$ | 389.7 | $ | 389.5 | -- | $ | 396.3 | (2 | %) | 3,419 | 3,446 | (1 | %) | 3,549 | (3 | %) | ||||||||||||||||||||||||
Commercial
|
220.0 | 218.1 | 1 | % | 219.0 | -- | 2,257 | 2,270 | (1 | %) | 2,310 | (2 | %) | |||||||||||||||||||||||||||
Industrial
|
298.2 | 327.7 | (9 | %) | 329.9 | (1 | %) | 4,119 | 4,748 | (13 | %) | 4,942 | (4 | %) | ||||||||||||||||||||||||||
Retail subtotal
|
907.9 | 935.3 | (3 | %) | 945.2 | (1 | %) | 9,795 | 10,464 | (6 | %) | 10,801 | (3 | %) | ||||||||||||||||||||||||||
Sales for
resale:
|
||||||||||||||||||||||||||||||||||||||||
Wholesale
|
166.6 | 178.5 | (7 | %) | 158.5 | 13 | % | 2,848 | 3,364 | (15 | %) | 3,141 | 7 | % | ||||||||||||||||||||||||||
Bulk power and other
|
61.0 | 10.0 | 510 | % | 14.5 | (31 | %) | 1,682 | 301 | 459 | % | 969 | (69 | %) | ||||||||||||||||||||||||||
Other
|
24.8 | 29.2 | (15 | %) | 22.5 | 30 | % | 71 | 74 | (4 | %) | 74 | -- | |||||||||||||||||||||||||||
Total revenues/sales
|
1,160.3 | 1,153.0 | 1 | % | 1,140.7 | 1 | % | 14,396 | 14,203 | 1 | % | 14,985 | (5 | %) | ||||||||||||||||||||||||||
Electric production
fuel expense
|
160.6 | 174.6 | (8 | %) | 170.0 | 3 | % | |||||||||||||||||||||||||||||||||
Energy purchases
expense
|
290.7 | 259.6 | 12 | % | 247.5 | 5 | % | |||||||||||||||||||||||||||||||||
Purchased electric
capacity expense
|
144.6 | 145.1 | -- | 166.6 | (13 | %) | ||||||||||||||||||||||||||||||||||
Margins
|
$ | 564.4 | $ | 573.7 | (2 | %) | $ | 556.6 | 3 | % |
2009
|
2008
|
2007
|
||||||||||
Weather impacts on
demand compared to normal weather
|
$ | (11 | ) | $ | (1 | ) | $ | 5 | ||||
Gains (losses) from
weather derivatives (a)
|
(1 | ) | 1 | (3 | ) | |||||||
Net weather impact
|
$ | (12 | ) | $ | -- | $ | 2 |
Revenues and Costs
(dollars in millions)
|
Dths Sold (Dths in
thousands)
|
|||||||||||||||||||||||||||||||||||||||
2009
|
2008
|
(a)
|
2007
|
(b)
|
2009
|
2008
|
(a)
|
2007
|
(b)
|
|||||||||||||||||||||||||||||||
Residential
|
$ | 122.2 | $ | 165.7 | (26 | %) | $ | 145.2 | 14 | % | 11,639 | 12,520 | (7 | %) | 11,596 | 8 | % | |||||||||||||||||||||||
Commercial
|
73.9 | 103.2 | (28 | %) | 84.0 | 23 | % | 9,274 | 9,362 | (1 | %) | 8,337 | 12 | % | ||||||||||||||||||||||||||
Industrial
|
5.7 | 10.7 | (47 | %) | 8.2 | 30 | % | 771 | 1,019 | (24 | %) | 883 | 15 | % | ||||||||||||||||||||||||||
Retail subtotal
|
201.8 | 279.6 | (28 | %) | 237.4 | 18 | % | 21,684 | 22,901 | (5 | %) | 20,816 | 10 | % | ||||||||||||||||||||||||||
Interdepartmental
|
2.0 | 5.6 | (64 | %) | 14.8 | (62 | %) | 464 | 1,156 | (60 | %) | 2,264 | (49 | %) | ||||||||||||||||||||||||||
Transportation/other
|
12.7 | 14.8 | (14 | %) | 13.5 | 10 | % | 23,656 | 24,477 | (3 | %) | 24,478 | -- | |||||||||||||||||||||||||||
Total revenues/sales
|
216.5 | 300.0 | (28 | %) | 265.7 | 13 | % | 45,804 | 48,534 | (6 | %) | 47,558 | 2 | % | ||||||||||||||||||||||||||
Cost of gas
sold
|
138.1 | 213.6 | (35 | %) | 175.0 | 22 | % | |||||||||||||||||||||||||||||||||
Margins
|
$ | 78.4 | $ | 86.4 | (9 | %) | $ | 90.7 | (5 | %) |
2009
|
2008
|
2007
|
||||||||||
Weather impacts on
demand compared to normal weather
|
$ | 1 | $ | 4 | $ | (1 | ) | |||||
Losses from weather
derivatives (a)
|
(1 | ) | (2 | ) | (2 | ) | ||||||
Net weather impact
|
$ | -- | $ | 2 | $ | (3 | ) |
Alliant
Energy
|
||||||||||||||||||||||||
(Consolidated)
|
IPL
|
WPL
|
||||||||||||||||||||||
Common
equity
|
$ | 2,772.6 | 48.5 | % | $ | 1,330.0 | 46.5 | % | $ | 1,254.7 | 53.5 | % | ||||||||||||
Preferred
stock
|
243.8 | 4.3 | % | 183.8 | 6.4 | % | 60.0 | 2.5 | % | |||||||||||||||
Noncontrolling
interest
|
2.1 | -- | % | -- | -- | % | -- | -- | % | |||||||||||||||
Long-term debt
(incl. current maturities)
|
2,506.0 | 43.9 | % | 1,158.7 | 40.5 | % | 1,031.6 | 44.0 | % | |||||||||||||||
Short-term
debt
|
190.0 | 3.3 | % | 190.0 | 6.6 | % | -- | -- | % | |||||||||||||||
$ | 5,714.5 | 100.0 | % | $ | 2,862.5 | 100.0 | % | $ | 2,346.3 | 100.0 | % |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
||||||||||||||||||||||||||||
Cash and cash
equivalents at Jan. 1
|
$ | 346.9 | $ | 745.6 | $ | 266.0 | $ | 6.2 | $ | 39.4 | $ | 0.5 | $ | 4.5 | $ | 0.4 | $ | 1.6 | ||||||||||||||||||
Cash flows from
(used for):
|
||||||||||||||||||||||||||||||||||||
Operating
activities
|
657.1 | 338.2 | 607.5 | 373.2 | 113.7 | 257.4 | 305.8 | 239.7 | 258.0 | |||||||||||||||||||||||||||
Investing
activities
|
(1,148.9 | ) | (866.1 | ) | 329.0 | (712.7 | ) | (469.1 | ) | 452.0 | (493.4 | ) | (376.0 | ) | (207.0 | ) | ||||||||||||||||||||
Financing
activities
|
320.2 | 129.2 | (456.9 | ) | 333.7 | 322.2 | (670.5 | ) | 201.6 | 140.4 | (52.2 | ) | ||||||||||||||||||||||||
Net
increase (decrease)
|
(171.6 | ) | (398.7 | ) | 479.6 | (5.8 | ) | (33.2 | ) | 38.9 | 14.0 | 4.1 | (1.2 | ) | ||||||||||||||||||||||
Cash and cash
equivalents at Dec. 31
|
$ | 175.3 | $ | 346.9 | $ | 745.6 | $ | 0.4 | $ | 6.2 | $ | 39.4 | $ | 18.5 | $ | 4.5 | $ | 0.4 |
2007
|
2008
|
2009
|
2010
(b)
|
2011
(b)
|
2012
(b)
|
|||||||||||||||||||
IPL
(a)
|
$ | -- | $ | -- | $ | 59 | $ | -- | $ | -- | $ | 10 | ||||||||||||
WPL
(a)
|
-- | -- | 47 | -- | -- | 5 | ||||||||||||||||||
Other
subsidiaries
|
8 | 2 | 25 | 8 | 5 | 5 | ||||||||||||||||||
Alliant
Energy
|
$ | 8 | $ | 2 | $ | 131 | $ | 8 | $ | 5 | $ | 20 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||||||||||||||
Utility business
(a):
|
2010
|
2011
|
2012
|
2010
|
2011
|
2012
|
2010
|
2011
|
2012
|
|||||||||||||||||||||||||||
Generation - new
facilities:
|
||||||||||||||||||||||||||||||||||||
IPL wind - Whispering Willow -
West
|
$ | 45 | $ | 190 | $ | 5 | $ | 45 | $ | 190 | $ | 5 | $ | -- | $ | -- | $ | -- | ||||||||||||||||||
WPL wind - Bent Tree - Phase
I
|
290 | 10 | -- | -- | -- | -- | 290 | 10 | -- | |||||||||||||||||||||||||||
Total generation - new
facilities
|
335 | 200 | 5 | 45 | 190 | 5 | 290 | 10 | -- | |||||||||||||||||||||||||||
Environmental
|
95 | 170 | 200 | 60 | 30 | 30 | 35 | 140 | 170 | |||||||||||||||||||||||||||
AMI
|
10 | 15 | 40 | -- | 15 | 40 | 10 | -- | -- | |||||||||||||||||||||||||||
Other utility capital
expenditures
|
425 | 470 | 520 | 235 | 250 | 275 | 190 | 220 | 245 | |||||||||||||||||||||||||||
Total utility business
|
865 | 855 | 765 | $ | 340 | $ | 485 | $ | 350 | $ | 525 | $ | 370 | $ | 415 | |||||||||||||||||||||
Non-regulated
businesses
|
10 | 10 | 15 | |||||||||||||||||||||||||||||||||
$ | 875 | $ | 865 | $ | 780 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||||||||||||||
Assets
Sold:
|
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||||||||||
IPL’s electric
transmission assets
|
$ | -- | $ | 4 | $ | 772 | $ | -- | $ | 4 | $ | 772 | $ | -- | $ | -- | $ | -- | ||||||||||||||||||
Mexico
investments
|
-- | -- | 66 | -- | -- | -- | -- | -- | -- | |||||||||||||||||||||||||||
Electric and gas
utility assets in Illinois
|
-- | -- | 52 | -- | -- | 28 | -- | -- | 24 | |||||||||||||||||||||||||||
Other
|
5 | 9 | 11 | 1 | -- | 1 | -- | 3 | -- | |||||||||||||||||||||||||||
$ | 5 | $ | 13 | $ | 901 | $ | 1 | $ | 4 | $ | 801 | $ | -- | $ | 3 | $ | 24 |
Alliant
Energy
|
Parent
|
|||||||||||||||
(Consolidated)
|
Company
|
IPL
|
WPL
|
|||||||||||||
Commercial
paper:
|
||||||||||||||||
Amount outstanding
|
$ | 190 | $ | -- | $ | 190 | $ | -- | ||||||||
Weighted average
maturity
|
5
days
|
N/A |
5
days
|
N/A | ||||||||||||
Weighted average interest
rates
|
0.4 | % | N/A | 0.4 | % | N/A | ||||||||||
Available credit
facility capacity
|
$ | 433 | $ | 96 | $ | 97 | $ | 240 |
Requirement
|
Status at Dec. 31,
2009
|
||
Alliant
Energy
|
Less than
65%
|
47%
|
|
IPL
|
Less than
58%
|
47%
|
|
WPL
|
Less than
58%
|
47%
|
Principal
|
Interest
|
|||||||||||
Company
|
Amount
|
Type
|
Rate
|
Due
Date
|
Use of
Proceeds
|
|||||||
2009
|
||||||||||||
Alliant
|
$ | 250.0 |
Senior
|
4 | % |
Oct-2014
|
Repay a short-term
loan used for the repurchase of the
|
|||||
Energy
|
notes
|
Exchangeable Senior Notes due 2030 and
general
|
||||||||||
corporate purposes
|
||||||||||||
IPL
|
$ | 300.0 |
Senior
|
6.25 | % |
Jul-2039
|
Repay short-term
debt, invest in short-term assets and redeem
|
|||||
debentures
|
at maturity its $135 million 6.625%
senior debentures
|
|||||||||||
WPL
|
$ | 250.0 |
Debentures
|
5 | % |
Jul-2019
|
Repay short-term
debt and invest in short-term assets
|
|||||
2008
|
||||||||||||
IPL
|
$ | 250.0 |
Senior
|
7.25 | % |
Oct-2018
|
Reduce the amount of
accounts receivable sold, invest
|
|||||
debentures
|
in short-term assets, repay short-term
debt and redeem
|
|||||||||||
$13.3 million of pollution control
revenue bonds
|
||||||||||||
WPL
|
$ | 250.0 |
Debentures
|
7.6 | % |
Oct-2038
|
Invest in short-term
assets, repay short-term debt, and
|
|||||
repay at maturity its $60 million 5.7%
debentures
|
Principal
|
Interest
|
Original
|
||||||||
Company
|
Amount
|
Type
|
Rate
|
Due
Date
|
||||||
2009
|
||||||||||
Alliant
Energy
|
$ | 402.5 |
Exchangeable Senior
Notes
|
2.5 | % |
Feb-2030
|
||||
IPL
|
$ | 135.0 |
Senior
debentures
|
6.625 | % |
Aug-2009
|
||||
2008
|
||||||||||
Corporate
Services
|
$ | 75.0 |
Senior
notes
|
4.55 | % |
Oct-2008
|
||||
WPL
|
$ | 60.0 |
Debentures
|
5.7 | % |
Oct-2008
|
||||
IPL
|
$ | 16.5 |
Various
Pollution
|
3.6-6.25%
at
|
Nov-2008
to
|
|||||
Control Revenue
Bonds
|
Dec. 31,
2007
|
Nov-2023
|
Standard &
Poor’s
|
Moody’s
Investors
|
|||
Ratings Services
(S&P)
|
Service
(Moody’s)
|
|||
IPL
|
Corporate/issuer
|
BBB+
|
A3
|
|
Commercial
paper
|
A-2
|
P-2
|
||
Senior unsecured
long-term debt
|
BBB+
|
A3
|
||
Preferred
stock
|
BBB-
|
Baa2
|
||
WPL
|
Corporate/issuer
|
A-
|
A2
|
|
Commercial
paper
|
A-2
|
P-1
|
||
Senior unsecured
long-term debt
|
A-
|
A2
|
||
Preferred
stock
|
BBB
|
Baa1
|
||
Resources
|
Corporate/issuer
|
BBB+
|
Not
rated
|
|
Alliant
Energy
|
Corporate/issuer
|
BBB+
|
Baa1
|
|
Commercial
paper
|
A-2
|
P-2
|
||
Senior unsecured
long-term debt
|
BBB
|
Baa1
|
||
All
Entities
|
Outlook
|
Stable
|
Stable
|
Alliant
Energy
|
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
|||||||||||||||||||||
Operating expense
purchase obligations (Note 12(b)):
|
||||||||||||||||||||||||||||
Purchased power and fuel commitments
(a)
|
$ | 650 | $ | 466 | $ | 341 | $ | 324 | $ | 66 | $ | 45 | $ | 1,892 | ||||||||||||||
Emission allowances
|
9 | 1 | -- | -- | -- | 34 | 44 | |||||||||||||||||||||
Other (b)
|
16 | 15 | 15 | 7 | -- | -- | 53 | |||||||||||||||||||||
Long-term debt
maturities (Note 8(b))
|
102 | 201 | 1 | 1 | 299 | 1,915 | 2,519 | |||||||||||||||||||||
Interest - long-term
debt obligations
|
152 | 141 | 134 | 134 | 132 | 1,974 | 2,667 | |||||||||||||||||||||
Wind generation
capital purchase obligations (Note 12(a))(c)
|
265 | 39 | -- | -- | -- | -- | 304 | |||||||||||||||||||||
Operating leases
(Note 3(a))
|
76 | 74 | 108 | 22 | 7 | 25 | 312 | |||||||||||||||||||||
Capital leases (Note
3(b))
|
2 | 1 | 1 | 1 | 1 | 2 | 8 | |||||||||||||||||||||
$ | 1,272 | $ | 938 | $ | 600 | $ | 489 | $ | 505 | $ | 3,995 | $ | 7,799 |
IPL
|
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
|||||||||||||||||||||
Operating expense
purchase obligations (Note 12(b)):
|
||||||||||||||||||||||||||||
Purchased power and fuel commitments
(a)
|
$ | 295 | $ | 250 | $ | 230 | $ | 218 | $ | 42 | $ | 11 | $ | 1,046 | ||||||||||||||
Emission allowances
|
9 | 1 | -- | -- | -- | 34 | 44 | |||||||||||||||||||||
Other (b)
|
9 | 7 | 7 | -- | -- | -- | 23 | |||||||||||||||||||||
Long-term debt
maturities (Note 8(b))
|
-- | 200 | -- | -- | 38 | 925 | 1,163 | |||||||||||||||||||||
Interest - long-term
debt obligations
|
76 | 68 | 62 | 62 | 61 | 870 | 1,199 | |||||||||||||||||||||
Wind generation
capital purchase obligations (Note 12(a))(c)
|
91 | 39 | -- | -- | -- | -- | 130 | |||||||||||||||||||||
Operating leases
(Note 3(a))
|
5 | 4 | 3 | 3 | 2 | 21 | 38 | |||||||||||||||||||||
Capital
leases
|
-- | -- | -- | -- | -- | 3 | 3 | |||||||||||||||||||||
$ | 485 | $ | 569 | $ | 302 | $ | 283 | $ | 143 | $ | 1,864 | $ | 3,646 |
WPL
|
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
|||||||||||||||||||||
Operating expense
purchase obligations (Note 12(b)):
|
||||||||||||||||||||||||||||
Purchased power and fuel commitments
(a)
|
$ | 252 | $ | 121 | $ | 104 | $ | 106 | $ | 24 | $ | 34 | $ | 641 | ||||||||||||||
Other (b)
|
3 | 8 | 8 | 7 | -- | -- | 26 | |||||||||||||||||||||
Long-term debt
maturities (Note 8(b))
|
100 | -- | -- | -- | 9 | 930 | 1,039 | |||||||||||||||||||||
Interest - long-term
debt obligations
|
63 | 59 | 59 | 59 | 59 | 1,083 | 1,382 | |||||||||||||||||||||
Wind generation
capital purchase obligations (Note 12(a))(c)
|
174 | -- | -- | -- | -- | -- | 174 | |||||||||||||||||||||
Operating leases
(Note 3(a))
|
65 | 65 | 62 | 20 | 4 | 3 | 219 | |||||||||||||||||||||
Capital lease -
Sheboygan Falls Energy Facility (Note 3(b))
|
15 | 15 | 15 | 15 | 15 | 158 | 233 | |||||||||||||||||||||
Capital leases -
other
|
-- | -- | -- | -- | -- | 1 | 1 | |||||||||||||||||||||
$ | 672 | $ | 268 | $ | 248 | $ | 207 | $ | 111 | $ | 2,209 | $ | 3,715 |
(a)
|
Purchased power and
fuel commitments represent normal business contracts used to ensure
adequate purchased power, coal and natural gas supplies and to minimize
exposure to market price fluctuations. Alliant Energy, through
its subsidiary Corporate Services, has entered into various coal
commitments that have not yet been directly assigned to IPL and
WPL. Such commitments are included in the Alliant Energy
purchased power and fuel commitments but are not included in the IPL or
WPL purchased power and fuel
commitments.
|
(b)
|
Other operating
expense purchase obligations represent individual commitments incurred
during the normal course of business that exceeded $1 million at Dec. 31,
2009.
|
(c)
|
In 2008, Corporate
Services, as agent for IPL and WPL, entered into a master supply agreement
with Vestas for the purchase of 500 MW of wind turbine generator sets and
related equipment to support IPL’s and WPL’s wind generation
plans. The wind generation plans are described in more detail
in “Strategic Overview - Utility Generation Plans.” Minimum
future commitments for capital purchase obligations related to this
agreement are based on currency exchange rates at Dec. 31,
2009.
|
Defined Benefit
Pension Plans
|
Other Postretirement
Benefits Plans
|
|||||||||||||||
Impact on
Projected
|
Impact on
2010
|
Impact on
Projected
|
Impact on
2010
|
|||||||||||||
Benefit
Obligation
|
Net
Periodic
|
Benefit
Obligation
|
Net
Periodic
|
|||||||||||||
Change in Actuarial
Assumption
|
at Dec. 31,
2009
|
Benefit
Costs
|
at Dec. 31,
2009
|
Benefit
Costs
|
||||||||||||
1%
change in discount rate
|
$ | 108 | $ | 7 | $ | 26 | $ | 2 | ||||||||
1%
change in expected rate of return
|
-- | 8 | -- | 1 | ||||||||||||
1%
change in medical trend rates
|
-- | -- | 12 | 1 |
CONSOLIDATED
STATEMENTS OF INCOME
|
||||||||||||
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(dollars in
millions, except per share amounts)
|
||||||||||||
Operating
revenues:
|
||||||||||||
Utility:
|
||||||||||||
Electric
|
$ | 2,475.9 | $ | 2,411.3 | $ | 2,410.8 | ||||||
Gas
|
525.3 | 710.4 | 630.2 | |||||||||
Other
|
92.9 | 102.1 | 71.7 | |||||||||
Non-regulated
|
338.7 | 457.9 | 324.9 | |||||||||
3,432.8 | 3,681.7 | 3,437.6 | ||||||||||
Operating
expenses:
|
||||||||||||
Utility:
|
||||||||||||
Electric
production fuel and energy purchases
|
891.4 | 843.1 | 822.8 | |||||||||
Purchased
electric capacity
|
281.1 | 285.7 | 298.9 | |||||||||
Electric
transmission service
|
225.4 | 182.2 | 92.8 | |||||||||
Cost
of gas sold
|
347.9 | 519.6 | 441.1 | |||||||||
Other
operation and maintenance
|
599.7 | 620.4 | 595.4 | |||||||||
Non-regulated
operation and maintenance
|
314.3 | 397.4 | 270.9 | |||||||||
Depreciation
and amortization
|
275.6 | 241.9 | 262.7 | |||||||||
Taxes
other than income taxes
|
100.2 | 102.8 | 108.7 | |||||||||
3,035.6 | 3,193.1 | 2,893.3 | ||||||||||
Gain
on sale of IPL's electric transmission assets
|
- | - | 218.8 | |||||||||
Operating
income
|
397.2 | 488.6 | 763.1 | |||||||||
Interest
expense and other:
|
||||||||||||
Interest
expense
|
154.9 | 125.8 | 116.7 | |||||||||
Loss on
early extinguishment of debt
|
203.0 | - | - | |||||||||
Equity
income from unconsolidated investments, net
|
(36.6 | ) | (33.2 | ) | (29.3 | ) | ||||||
Allowance
for funds used during construction
|
(39.7 | ) | (24.7 | ) | (7.8 | ) | ||||||
Interest
income and other
|
(4.6 | ) | (18.2 | ) | (15.7 | ) | ||||||
277.0 | 49.7 | 63.9 | ||||||||||
Income
from continuing operations before income taxes
|
120.2 | 438.9 | 699.2 | |||||||||
Income
tax expense (benefit)
|
(9.2 | ) | 140.2 | 255.8 | ||||||||
Income
from continuing operations, net of tax
|
129.4 | 298.7 | 443.4 | |||||||||
Income
from discontinued operations, net of tax
|
0.3 | 8.0 | 0.6 | |||||||||
Net
income
|
129.7 | 306.7 | 444.0 | |||||||||
Preferred
dividend requirements of subsidiaries
|
18.7 | 18.7 | 18.7 | |||||||||
Net
income attributable to Alliant Energy common shareowners
|
$ | 111.0 | $ | 288.0 | $ | 425.3 | ||||||
Weighted
average number of common shares outstanding (basic) (000s)
|
110,268 | 110,170 | 112,284 | |||||||||
Earnings
per weighted average common share attributable to
|
||||||||||||
Alliant
Energy common shareowners (basic):
|
||||||||||||
Income
from continuing operations, net of tax
|
$ | 1.01 | $ | 2.54 | $ | 3.78 | ||||||
Income
from discontinued operations, net of tax
|
- | 0.07 | 0.01 | |||||||||
Net
income
|
$ | 1.01 | $ | 2.61 | $ | 3.79 | ||||||
|
||||||||||||
Weighted
average number of common shares outstanding (diluted)
(000s)
|
110,352 | 110,308 | 112,521 | |||||||||
Earnings
per weighted average common share attributable to
|
||||||||||||
Alliant
Energy common shareowners (diluted):
|
||||||||||||
Income
from continuing operations, net of tax
|
$ | 1.01 | $ | 2.54 | $ | 3.77 | ||||||
Income
from discontinued operations, net of tax
|
- | 0.07 | 0.01 | |||||||||
Net
income
|
$ | 1.01 | $ | 2.61 | $ | 3.78 | ||||||
|
||||||||||||
Amounts
attributable to Alliant Energy common shareowners:
|
||||||||||||
Income
from continuing operations, net of tax
|
$ | 110.7 | $ | 280.0 | $ | 424.7 | ||||||
Income
from discontinued operations, net of tax
|
0.3 | 8.0 | 0.6 | |||||||||
Net
income
|
$ | 111.0 | $ | 288.0 | $ | 425.3 | ||||||
|
||||||||||||
Dividends
declared per common share
|
$ | 1.50 | $ | 1.40 | $ | 1.27 | ||||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
94
|
CONSOLIDATED
BALANCE SHEETS
|
||||||||
December
31,
|
||||||||
ASSETS
|
2009
|
2008
|
||||||
(in
millions)
|
||||||||
Property,
plant and equipment:
|
||||||||
Utility:
|
||||||||
Electric
plant in service
|
$ | 7,037.7 | $ | 6,018.8 | ||||
Gas
plant in service
|
798.1 | 761.6 | ||||||
Other
plant in service
|
522.0 | 481.0 | ||||||
Accumulated
depreciation (accum. depr.)
|
(2,909.5 | ) | (2,766.2 | ) | ||||
Net
plant
|
5,448.3 | 4,495.2 | ||||||
Construction
work in progress:
|
||||||||
Whispering
Willow - East wind project (Interstate Power and Light
Company)
|
- | 189.4 | ||||||
Bent
Tree - Phase I wind project (Wisconsin Power and Light
Company)
|
165.5 | - | ||||||
Other
|
238.5 | 294.2 | ||||||
Other,
less accum. depr. of $5.8 and $5.5
|
67.3 | 22.4 | ||||||
Total
utility
|
5,919.6 | 5,001.2 | ||||||
Non-regulated
and other:
|
||||||||
Non-regulated
Generation, less accum. depr. of $36.2 and $51.2
|
133.1 | 230.1 | ||||||
Alliant
Energy Corporate Services, Inc. and other, less accum. depr. of $160.4 and
$157.9
|
150.3 | 122.2 | ||||||
Total
non-regulated and other
|
283.4 | 352.3 | ||||||
6,203.0 | 5,353.5 | |||||||
Current
assets:
|
||||||||
Cash and
cash equivalents
|
175.3 | 346.9 | ||||||
Accounts
receivable:
|
||||||||
Customer,
less allowance for doubtful accounts of $5.5 and $7.0
|
247.3 | 233.9 | ||||||
Unbilled
utility revenues
|
169.0 | 186.2 | ||||||
Other,
less allowance for doubtful accounts of $0.6 and $0.2
|
86.0 | 138.6 | ||||||
Income tax
refunds receivable
|
170.0 | 67.7 | ||||||
Production
fuel, at weighted average cost
|
140.2 | 111.7 | ||||||
Materials
and supplies, at weighted average cost
|
53.8 | 55.8 | ||||||
Gas
stored underground, at weighted average cost
|
44.8 | 75.0 | ||||||
Regulatory
assets
|
154.4 | 101.6 | ||||||
Derivative
assets
|
23.8 | 18.1 | ||||||
Other
|
112.7 | 110.1 | ||||||
1,377.3 | 1,445.6 | |||||||
Investments:
|
||||||||
Investment
in American Transmission Company LLC
|
218.6 | 195.1 | ||||||
Other
|
62.9 | 60.9 | ||||||
281.5 | 256.0 | |||||||
Other
assets:
|
||||||||
Regulatory
assets
|
999.3 | 933.1 | ||||||
Deferred
charges and other
|
174.9 | 213.3 | ||||||
1,174.2 | 1,146.4 | |||||||
Total
assets
|
$ | 9,036.0 | $ | 8,201.5 | ||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
ALLIANT
ENERGY CORPORATION
|
||||||||
CONSOLIDATED
BALANCE SHEETS (Continued)
|
||||||||
December
31,
|
||||||||
CAPITALIZATION
AND LIABILITIES
|
2009
|
2008
|
||||||
(in millions, except
per
|
||||||||
share and share
amounts)
|
||||||||
Capitalization:
|
||||||||
Alliant
Energy Corporation common equity:
|
||||||||
Common stock - $0.01
par value - 240,000,000 shares authorized;
|
||||||||
110,656,498
and 110,449,099 shares outstanding
|
$ | 1.1 | $ | 1.1 | ||||
Additional
paid-in capital
|
1,499.1 | 1,494.9 | ||||||
Retained
earnings
|
1,281.7 | 1,336.2 | ||||||
Accumulated other
comprehensive loss
|
(1.4 | ) | (1.4 | ) | ||||
Shares in deferred
compensation trust - 262,161 and 238,241 shares
|
||||||||
at
a weighted average cost of $30.25 and $30.79 per share
|
(7.9 | ) | (7.3 | ) | ||||
Total
Alliant Energy Corporation common equity
|
2,772.6 | 2,823.5 | ||||||
Cumulative
preferred stock of Interstate Power and Light Company
|
183.8 | 183.8 | ||||||
Noncontrolling
interest
|
2.1 | 2.1 | ||||||
Total
equity
|
2,958.5 | 3,009.4 | ||||||
Cumulative
preferred stock of Wisconsin Power and Light Company
|
60.0 | 60.0 | ||||||
Long-term
debt, net (excluding current portion)
|
2,404.5 | 1,748.3 | ||||||
5,423.0 | 4,817.7 | |||||||
Current
liabilities:
|
||||||||
Current
maturities of long-term debt
|
101.5 | 136.4 | ||||||
Commercial
paper
|
190.0 | 86.1 | ||||||
Accounts
payable
|
332.2 | 425.1 | ||||||
Regulatory
liabilities
|
102.7 | 101.9 | ||||||
Accrued
taxes
|
78.3 | 52.5 | ||||||
Derivative
liabilities
|
100.5 | 78.6 | ||||||
Other
|
168.9 | 157.6 | ||||||
1,074.1 | 1,038.2 | |||||||
Other
long-term liabilities and deferred credits:
|
||||||||
Deferred
income taxes
|
1,186.4 | 971.2 | ||||||
Regulatory
liabilities
|
734.1 | 637.9 | ||||||
Pension
and other benefit obligations
|
323.9 | 513.9 | ||||||
Other
|
294.5 | 222.6 | ||||||
2,538.9 | 2,345.6 | |||||||
Commitments
and contingencies (Note 12)
|
||||||||
Total
capitalization and liabilities
|
$ | 9,036.0 | $ | 8,201.5 | ||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
||||||||||||
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Cash
flows from operating activities:
|
||||||||||||
Net
income
|
$ | 129.7 | $ | 306.7 | $ | 444.0 | ||||||
Adjustments
to reconcile net income to net cash flows from operating
activities:
|
||||||||||||
Depreciation
and amortization
|
275.6 | 241.9 | 262.7 | |||||||||
Other
amortizations
|
42.1 | 44.5 | 47.3 | |||||||||
Deferred
tax expense and investment tax credits
|
94.3 | 73.5 | 99.7 | |||||||||
Loss
on early extinguishment of debt
|
203.0 | - | - | |||||||||
Equity
income from unconsolidated investments, net
|
(36.6 | ) | (33.2 | ) | (29.3 | ) | ||||||
Distributions
from equity method investments
|
29.9 | 27.8 | 21.8 | |||||||||
Equity
component of allowance for funds used during construction
|
(28.2 | ) | (17.2 | ) | (2.0 | ) | ||||||
Gains
on dispositions of assets, net
|
(0.9 | ) | (0.5 | ) | (236.9 | ) | ||||||
Other
|
15.6 | 16.6 | 6.1 | |||||||||
Other
changes in assets and liabilities:
|
||||||||||||
Accounts
receivable
|
73.5 | (140.4 | ) | 30.0 | ||||||||
Sale
of accounts receivable
|
(25.0 | ) | (75.0 | ) | (25.0 | ) | ||||||
Income
tax refunds receivable
|
(102.3 | ) | (54.2 | ) | 3.2 | |||||||
Production
fuel
|
(28.5 | ) | (19.5 | ) | (19.0 | ) | ||||||
Gas
stored underground
|
30.2 | (4.5 | ) | (6.6 | ) | |||||||
Regulatory
assets
|
(163.9 | ) | (507.6 | ) | 129.3 | |||||||
Prepaid
gas costs
|
22.7 | (16.8 | ) | (0.9 | ) | |||||||
Prepaid
pension costs
|
- | 65.5 | (43.0 | ) | ||||||||
Current
deferred tax assets
|
(19.8 | ) | (25.8 | ) | 33.1 | |||||||
Derivative
assets
|
(3.4 | ) | 8.4 | (27.9 | ) | |||||||
Accounts
payable
|
(37.6 | ) | 19.8 | 31.5 | ||||||||
Regulatory
liabilities
|
136.7 | (11.1 | ) | 8.7 | ||||||||
Accrued
taxes
|
25.8 | (22.0 | ) | 10.0 | ||||||||
Derivative
liabilities
|
16.3 | 77.2 | (66.5 | ) | ||||||||
Deferred
income taxes
|
118.9 | 74.6 | (41.6 | ) | ||||||||
Non-current
taxes payable
|
60.7 | (15.6 | ) | 1.0 | ||||||||
Pension
and other benefit obligations
|
(190.0 | ) | 311.3 | (0.9 | ) | |||||||
Other
|
18.3 | 13.8 | (21.3 | ) | ||||||||
Net
cash flows from operating activities
|
657.1 | 338.2 | 607.5 | |||||||||
Cash
flows from (used for) investing activities:
|
||||||||||||
Construction
and acquisition expenditures:
|
||||||||||||
Utility
business
|
(1,149.6 | ) | (842.4 | ) | (516.0 | ) | ||||||
Alliant
Energy Corporate Services, Inc. and non-regulated
businesses
|
(53.0 | ) | (36.6 | ) | (26.0 | ) | ||||||
Advances
for customer energy efficiency projects
|
(31.0 | ) | (38.3 | ) | (49.9 | ) | ||||||
Collections
of advances for customer energy efficiency projects
|
63.6 | 38.3 | 36.5 | |||||||||
Insurance
proceeds received for property damages
|
37.7 | 18.1 | - | |||||||||
Proceeds
from asset sales
|
4.9 | 12.9 | 900.8 | |||||||||
Purchases
of emission allowances
|
(1.0 | ) | - | (23.9 | ) | |||||||
Other
|
(20.5 | ) | (18.1 | ) | 7.5 | |||||||
Net
cash flows from (used for) investing activities
|
(1,148.9 | ) | (866.1 | ) | 329.0 | |||||||
Cash
flows from (used for) financing activities:
|
||||||||||||
Common
stock dividends
|
(165.5 | ) | (154.3 | ) | (143.2 | ) | ||||||
Preferred
dividends paid by subsidiaries
|
(18.7 | ) | (18.7 | ) | (18.7 | ) | ||||||
Proceeds
from issuance of long-term debt
|
800.2 | 500.0 | 300.0 | |||||||||
Payments
to retire long-term debt
|
(377.9 | ) | (154.3 | ) | (273.2 | ) | ||||||
Net
change in short-term borrowings
|
103.9 | (25.2 | ) | (67.5 | ) | |||||||
Repurchase
of common stock
|
(0.9 | ) | (1.7 | ) | (296.8 | ) | ||||||
Proceeds
from issuance of common stock
|
1.0 | 1.3 | 34.1 | |||||||||
Other
|
(21.9 | ) | (17.9 | ) | 8.4 | |||||||
Net
cash flows from (used for) financing activities
|
320.2 | 129.2 | (456.9 | ) | ||||||||
Net
increase (decrease) in cash and cash equivalents
|
(171.6 | ) | (398.7 | ) | 479.6 | |||||||
Cash
and cash equivalents at beginning of period
|
346.9 | 745.6 | 266.0 | |||||||||
Cash
and cash equivalents at end of period
|
$ | 175.3 | $ | 346.9 | $ | 745.6 | ||||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
CONSOLIDATED
STATEMENTS OF COMMON EQUITY
|
||||||||||||||||||||||||
|
|
Total
|
||||||||||||||||||||||
Accumulated
|
Shares
in
|
Alliant | ||||||||||||||||||||||
Additional | Other | Deferred | Energy | |||||||||||||||||||||
Common
|
Paid-In
|
Retained
|
Comprehensive
|
Compensation
|
Common
|
|||||||||||||||||||
Stock
|
Capital
|
Earnings
|
Income
(Loss)
|
Trust
|
Equity
|
|||||||||||||||||||
(in
millions)
|
||||||||||||||||||||||||
2007:
|
||||||||||||||||||||||||
Beginning
balance (a)
|
$ | 1.2 | $ | 1,743.0 | $ | 923.6 | $ | (8.7 | ) | $ | (7.8 | ) | $ | 2,651.3 | ||||||||||
Net
income attributable to Alliant Energy common shareowners
|
425.3 | 425.3 | ||||||||||||||||||||||
Common
stock dividends
|
(143.2 | ) | (143.2 | ) | ||||||||||||||||||||
Common
stock repurchased
|
(0.1 | ) | (296.7 | ) | (296.8 | ) | ||||||||||||||||||
Adoption
of accounting for uncertain tax positions (Note 5)
|
(0.5 | ) | (0.5 | ) | ||||||||||||||||||||
Common
stock issued and other
|
37.1 | (0.9 | ) | 36.2 | ||||||||||||||||||||
Other
comprehensive income, net of tax
|
8.9 | 8.9 | ||||||||||||||||||||||
Ending
balance
|
1.1 | 1,483.4 | 1,205.2 | 0.2 | (8.7 | ) | 2,681.2 | |||||||||||||||||
2008:
|
||||||||||||||||||||||||
Net
income attributable to Alliant Energy common shareowners
|
288.0 | 288.0 | ||||||||||||||||||||||
Common
stock dividends
|
(154.3 | ) | (154.3 | ) | ||||||||||||||||||||
Adoption
of new measurement date for retirement plans,
|
||||||||||||||||||||||||
net
of tax of ($2.6) (Note 6(a))
|
(2.7 | ) | (2.7 | ) | ||||||||||||||||||||
Common
stock issued, repurchased and other, net
|
11.5 | 1.4 | 12.9 | |||||||||||||||||||||
Other
comprehensive loss, net of tax
|
(1.6 | ) | (1.6 | ) | ||||||||||||||||||||
Ending
balance
|
1.1 | 1,494.9 | 1,336.2 | (1.4 | ) | (7.3 | ) | 2,823.5 | ||||||||||||||||
2009:
|
||||||||||||||||||||||||
Net
income attributable to Alliant Energy
|
||||||||||||||||||||||||
common
shareowners
|
111.0 | 111.0 | ||||||||||||||||||||||
Common
stock dividends
|
(165.5 | ) | (165.5 | ) | ||||||||||||||||||||
Common
stock issued, repurchased and other, net
|
4.2 | (0.6 | ) | 3.6 | ||||||||||||||||||||
Ending
balance
|
$ | 1.1 | $ | 1,499.1 | $ | 1,281.7 | $ | (1.4 | ) | $ | (7.9 | ) | $ | 2,772.6 | ||||||||||
(a) Accumulated other comprehensive loss at Jan. 1, 2007 consisted of ($9.8) retirement benefits compensation-related adjustments, | ||||||||||||||||||||||||
$0.6 of net unrealized gains on securities and $0.5 of net unrealized gains on qualifying derivatives. |
CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
|
||||||||||||
Year
Ended December 31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Net
income
|
$ | 129.7 | $ | 306.7 | $ | 444.0 | ||||||
Other
comprehensive income (loss), net of tax:
|
||||||||||||
Unrealized
holding gains (losses) on securities, net of tax of $0.3, ($0.6) and
$0.2
|
0.5 | (1.0 | ) | 0.3 | ||||||||
Less: reclassfication adjustment for gains (losses) included in net income, net of tax of $0.1, ($0.2) and $- | 0.1 | (0.3 | ) | - | ||||||||
Net
unrealized gains (losses) on securities
|
0.4 | (0.7 | ) | 0.3 | ||||||||
Pension
and other postretirement benefits amortizations and reclassification to
regulatory assets,
|
||||||||||||
net of tax of ($0.2), ($0.6) and $6.8
|
(0.4 | ) | (0.9 | ) | 9.1 | |||||||
Unrealized holding gains (losses) on qualifying derivatives, net of
tax
|
- | - | - | |||||||||
Less: reclassification adjustment for gains included in net income, net of tax of $-, $- and $0.3 | - | - | 0.5 | |||||||||
Net unrealized losses on qualifying derivatives
|
- | - | (0.5 | ) | ||||||||
Total
other comprehensive income (loss)
|
- | (1.6 | ) | 8.9 | ||||||||
Comprehensive
income
|
129.7 | 305.1 | 452.9 | |||||||||
Preferred
dividend requirements of subsidiaries
|
(18.7 | ) | (18.7 | ) | (18.7 | ) | ||||||
Comprehensive
income attributable to Alliant Energy common shareowners
|
$ | 111.0 | $ | 286.4 | $ | 434.2 | ||||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Pension and other
postretirement
|
||||||||||||||||||||||||
benefits (Note 6(a))
|
$ | 466.4 | $ | 577.6 | $ | 244.1 | $ | 310.8 | $ | 222.3 | $ | 266.8 | ||||||||||||
Tax-related (Notes
1(c) and 5)
|
322.7 | 123.2 | 310.9 | 112.6 | 11.8 | 10.6 | ||||||||||||||||||
Derivatives (Note
11(a))
|
116.3 | 95.9 | 51.2 | 82.9 | 65.1 | 13.0 | ||||||||||||||||||
Asset retirement
obligations (Note 18)
|
47.1 | 44.0 | 32.4 | 30.6 | 14.7 | 13.4 | ||||||||||||||||||
Environmental-related
(Note 12(e))
|
40.6 | 41.9 | 34.1 | 33.8 | 6.5 | 8.1 | ||||||||||||||||||
Proposed base-load
projects
|
37.0 | 65.8 | 24.3 | 30.2 | 12.7 | 35.6 | ||||||||||||||||||
Proposed clean air
compliance projects
|
19.3 | 20.7 | 9.0 | 12.5 | 10.3 | 8.2 | ||||||||||||||||||
Debt redemption
costs (Note 1(r))
|
18.8 | 20.3 | 11.1 | 12.1 | 7.7 | 8.2 | ||||||||||||||||||
WPL’s benefits
costs
|
12.0 | -- | -- | -- | 12.0 | -- | ||||||||||||||||||
IPL’s flood-related
costs
|
8.0 | -- | 8.0 | -- | -- | -- | ||||||||||||||||||
WPL’s Midwest
Independent Transmission
|
||||||||||||||||||||||||
System Operator (MISO)-related
costs
|
5.0 | 10.0 | -- | -- | 5.0 | 10.0 | ||||||||||||||||||
Other
|
60.5 | 35.3 | 18.7 | 8.8 | 41.8 | 26.5 | ||||||||||||||||||
$ | 1,153.7 | $ | 1,034.7 | $ | 743.8 | $ | 634.3 | $ | 409.9 | $ | 400.4 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Cost of removal
obligations
|
$ | 402.9 | $ | 408.5 | $ | 259.9 | $ | 257.9 | $ | 143.0 | $ | 150.6 | ||||||||||||
Tax-related (Notes
1(c) and 5)
|
178.5 | 16.9 | 166.3 | 4.9 | 12.2 | 12.0 | ||||||||||||||||||
IPL
electric transmission assets sale
|
83.6 | 90.8 | 83.6 | 90.8 | -- | -- | ||||||||||||||||||
Emission allowances
(Note 15)
|
53.4 | 64.4 | 47.2 | 57.1 | 6.2 | 7.3 | ||||||||||||||||||
IPL
DAEC sale
|
47.0 | 65.3 | 47.0 | 65.3 | -- | -- | ||||||||||||||||||
Commodity cost
recovery (Notes 1(h) and 2)
|
26.2 | 71.1 | 22.0 | 32.9 | 4.2 | 38.2 | ||||||||||||||||||
Derivatives (Note
11(a))
|
25.4 | 10.5 | 13.2 | 1.6 | 12.2 | 8.9 | ||||||||||||||||||
Other
|
19.8 | 12.3 | 5.5 | 4.3 | 14.3 | 8.0 | ||||||||||||||||||
$ | 836.8 | $ | 739.8 | $ | 644.7 | $ | 514.8 | $ | 192.1 | $ | 225.0 |
2009
|
2008
|
|||||||
Total cash and cash
equivalents
|
$ | 175 | $ | 347 | ||||
Money market fund
investments
|
$ | 169 | $ | 339 | ||||
Interest rates on
money market fund investments
|
0.09 - 0.11 | % | 1.43 - 1.83 | % |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Generation
|
$ | 3,402.0 | $ | 2,632.8 | $ | 2,263.1 | $ | 1,589.1 | $ | 1,138.9 | $ | 1,043.7 | ||||||||||||
Distribution
|
3,371.9 | 3,147.3 | 1,842.9 | 1,745.1 | 1,529.0 | 1,402.2 | ||||||||||||||||||
Other
|
263.8 | 238.7 | 205.2 | 184.3 | 58.6 | 54.4 | ||||||||||||||||||
$ | 7,037.7 | $ | 6,018.8 | $ | 4,311.2 | $ | 3,518.5 | $ | 2,726.5 | $ | 2,500.3 |
IPL
|
WPL
|
||||||||||
2009
|
2008
|
2007
|
2009
|
2008
(a)
|
2007
|
||||||
Electric
|
3.1%
|
3.1%
|
2.8%
|
3.2%
|
3.2%
|
3.5%
|
|||||
Gas
|
3.1%
|
3.0%
|
2.9%
|
2.8%
|
3.1%
|
3.6%
|
(a)
|
Effective July 1,
2008, WPL implemented updated depreciation rates as a result of a new
depreciation study. These updated depreciation rates increased
Alliant Energy’s net income in 2008 as compared to 2007 by approximately
$5.3 million, or $0.05 per share.
|
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
||||||||||||||||||||||||||||
Equity
|
$ | 28.2 | $ | 17.2 | $ | 2.0 | $ | 24.2 | $ | 10.8 | $ | 0.5 | $ | 4.0 | $ | 6.4 | $ | 1.5 | ||||||||||||||||||
Debt
|
11.5 | 7.5 | 5.8 | 9.8 | 4.3 | 4.7 | 1.7 | 3.2 | 1.1 | |||||||||||||||||||||||||||
$ | 39.7 | $ | 24.7 | $ | 7.8 | $ | 34.0 | $ | 15.1 | $ | 5.2 | $ | 5.7 | $ | 9.6 | $ | 2.6 |
2009
|
||||||||||||||||||||
2008
|
First
Quarter
|
Second
Quarter
|
Third
Quarter
|
Total
|
||||||||||||||||
IPL
AFUDC calculation correction
|
$ | 1.2 | $ | 1.2 | $ | 1.3 | $ | 1.7 | $ | 5.4 |
2009
|
2008
|
2007
|
|||
IPL
(FERC formula - Whispering Willow - East)
|
8.4%
|
8.0%
|
--
|
||
IPL
(FERC formula - other projects)
|
8.0%
|
7.6%
|
6.3%
|
||
WPL
(PSCW formula - retail jurisdiction) (a)
|
9.0%
|
9.0%
|
9.0%
|
||
WPL
(FERC formula - wholesale jurisdiction)
|
6.7%
|
6.8%
|
5.5%
|
(a)
|
Consistent with the
PSCW’s most recent retail rate case order issued in December 2009, WPL
will earn a current return on 50% of the estimated CWIP related to its
Bent Tree - Phase I wind project for 2010 and accrue AFUDC on the
remaining 50% beginning Jan. 1, 2010. In addition, the PSCW’s
order changed WPL’s AFUDC recovery rate to 8.76% from 9.0% effective Jan.
1, 2010.
|
2009
|
2008
|
2007
|
||||||||||
Interest
income
|
$ | (4.2 | ) | $ | (19.0 | ) | $ | (11.9 | ) | |||
Gains on investment
sales, net
|
(0.2 | ) | -- | (3.8 | ) | |||||||
Other
|
(0.2 | ) | 0.8 | -- | ||||||||
$ | (4.6 | ) | $ | (18.2 | ) | $ | (15.7 | ) |
2009
|
2008
|
2007
|
||||||||||
Cash paid (refunded)
during the period for:
|
||||||||||||
Interest, net of capitalized
interest
|
$ | 142.4 | $ | 130.4 | $ | 114.7 | ||||||
Income taxes, net of
refunds
|
(140.7 | ) | 131.0 | 151.7 | ||||||||
Noncash investing
and financing activities:
|
||||||||||||
Capital lease obligations
incurred
|
5.2 | -- | -- | |||||||||
Debt assumed by buyer of Mexico
business
|
-- | -- | 5.0 |
2009
|
2008
|
2007
|
||||||||||
Operating lease
rental expenses (excluding contingent rentals)
|
$ | 79 | $ | 90 | $ | 109 | ||||||
Contingent rentals
related to certain PPAs
|
7 | 7 | 19 | |||||||||
Other contingent
rentals
|
1 | 2 | 2 | |||||||||
$ | 87 | $ | 99 | $ | 130 |
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
||||||||||||||||||||||
Riverside Energy
Center (Riverside) PPA (a)
|
$ | 58 | $ | 59 | $ | 60 | $ | 17 | $ | -- | $ | -- | $ | 194 | ||||||||||||||
Synthetic leases
(b)
|
8 | 4 | 43 | 1 | 4 | 2 | 62 | |||||||||||||||||||||
Other
|
10 | 11 | 5 | 4 | 3 | 23 | 56 | |||||||||||||||||||||
$ | 76 | $ | 74 | $ | 108 | $ | 22 | $ | 7 | $ | 25 | $ | 312 |
(a)
|
WPL’s Riverside PPA
contains a provision granting WPL the option to purchase this facility in
2013. Refer to Note 19 for additional information on this
PPA.
|
(b)
|
The synthetic leases
relate to the financing of certain corporate headquarters and utility
railcars. The entities that lease these assets to Alliant
Energy do not meet consolidation requirements and are not included on
Alliant Energy’s Consolidated Balance Sheets. Alliant Energy
has guaranteed the residual value of the related assets, which total $48
million in the aggregate. The guarantees extend through the
maturity of each respective underlying lease with remaining terms up to
six years. Residual value guarantee amounts have been included
in the future minimum operating lease
payments.
|
Less:
amount
|
Present value of
net
|
|||||||||||||||||||||||||||||||||||
representing
|
minimum
capital
|
|||||||||||||||||||||||||||||||||||
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
interest
|
lease
payments
|
||||||||||||||||||||||||||||
Capital
leases
|
$ | 2 | $ | 1 | $ | 1 | $ | 1 | $ | 1 | $ | 2 | $ | 8 | $ | 2 | $ | 6 |
2009
|
2008
|
2007
|
||||||||||
Average amount of
aggregate accounts receivable sold
|
||||||||||||
(based on daily
outstanding balances)
|
$ | 113.0 | $ | 47.5 | $ | 118.8 | ||||||
Costs
incurred
|
2.1 | 1.6 | 6.8 |
2009
|
2008
|
|||||||
WPL
|
$ | 2 | $ | 15 | ||||
Corporate
Services
|
-- | 2 | ||||||
Alliant Energy
|
$ | 2 | $ | 17 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Current
portion
|
$ | 32.9 | $ | 40.8 | $ | 3.9 | $ | 4.4 | $ | 29.0 | $ | 36.4 | ||||||||||||
Non-current
portion
|
60.5 | 85.2 | 6.5 | 8.1 | 54.0 | 77.1 | ||||||||||||||||||
$ | 93.4 | $ | 126.0 | $ | 10.4 | $ | 12.5 | $ | 83.0 | $ | 113.5 |
2009
|
2008
|
2007
|
||||||||||
Current tax expense
(benefit):
|
||||||||||||
Federal
|
$ | (140.1 | ) | $ | 62.6 | $ | 122.2 | |||||
State
|
(4.4 | ) | 18.6 | 34.9 | ||||||||
Deferred tax expense
(benefit):
|
||||||||||||
Federal
|
134.9 | 56.5 | 81.5 | |||||||||
State
|
(39.0 | ) | 14.0 | 18.2 | ||||||||
Production tax
credit
|
(4.7 | ) | (0.3 | ) | -- | |||||||
Investment tax
credits
|
(1.9 | ) | (3.4 | ) | (6.3 | ) | ||||||
Provision recorded
as a change in uncertain tax positions
|
47.1 | (0.5 | ) | (2.0 | ) | |||||||
Provision recorded
as a change in accrued interest
|
(1.1 | ) | (7.3 | ) | 7.3 | |||||||
$ | (9.2 | ) | $ | 140.2 | $ | 255.8 |
2009
|
2008
|
2007
|
|||
Statutory
federal income tax rate
|
35.0%
|
35.0%
|
35.0%
|
||
State income taxes, net of federal
benefits
|
5.3
|
5.0
|
3.6
|
||
IPL’s electric transmission assets
sale
|
--
|
--
|
2.8
|
||
Reversal of capital loss valuation
allowances
|
--
|
--
|
(0.9)
|
||
Effect of rate making on property
related differences
|
(3.5)
|
(2.6)
|
(0.9)
|
||
Production tax credits
|
(3.9)
|
(0.1)
|
--
|
||
Adjustment of prior period
taxes
|
(6.2)
|
(3.4)
|
(0.4)
|
||
State filing changes
|
(33.6)
|
--
|
--
|
||
Other items, net
|
(0.8)
|
(2.0)
|
(2.6)
|
||
Overall
income tax rate
|
(7.7%)
|
31.9%
|
36.6%
|
2009
|
2008
|
|||||||||||||||||||||||
Deferred
|
Deferred
Tax
|
Deferred
|
Deferred
Tax
|
|||||||||||||||||||||
Tax
Assets
|
Liabilities
|
Net
|
Tax
Assets
|
Liabilities
|
Net
|
|||||||||||||||||||
Property
|
$ | -- | $ | 1,130.2 | $ | 1,130.2 | $ | -- | $ | 715.2 | $ | 715.2 | ||||||||||||
Deferred portion of
tax gain on IPL’s
|
||||||||||||||||||||||||
electric transmission assets
sale
|
-- | 125.5 | 125.5 | -- | 156.5 | 156.5 | ||||||||||||||||||
Investment in
American Transmission
|
||||||||||||||||||||||||
Co. LLC (ATC)
|
-- | 71.5 | 71.5 | -- | 52.2 | 52.2 | ||||||||||||||||||
Deferred portion of
tax gain on retired
|
||||||||||||||||||||||||
Exchangeable Senior
Notes
|
-- | 53.2 | 53.2 | -- | -- | -- | ||||||||||||||||||
Pension and other
postretirement
|
||||||||||||||||||||||||
benefits obligations
|
-- | 43.4 | 43.4 | -- | 40.4 | 40.4 | ||||||||||||||||||
Prepaid gross
receipts tax
|
-- | 15.3 | 15.3 | -- | 15.1 | 15.1 | ||||||||||||||||||
Regulatory asset -
IPL base-load project
|
-- | 9.7 | 9.7 | -- | -- | -- | ||||||||||||||||||
Regulatory asset -
WPL base-load project
|
-- | 5.1 | 5.1 | -- | 11.0 | 11.0 | ||||||||||||||||||
Regulatory
asset/(liability) - commodity
|
||||||||||||||||||||||||
cost recovery
|
-- | 3.7 | 3.7 | (30.1 | ) | -- | (30.1 | ) | ||||||||||||||||
Exchangeable Senior
Notes
|
-- | -- | -- | -- | 142.5 | 142.5 | ||||||||||||||||||
Capital losses
carryforward
|
(8.7 | ) | -- | (8.7 | ) | (32.0 | ) | -- | (32.0 | ) | ||||||||||||||
Regulatory liability
- flood insurance
|
(11.3 | ) | -- | (11.3 | ) | -- | -- | -- | ||||||||||||||||
Deferred
compensation
|
(11.5 | ) | -- | (11.5 | ) | (11.6 | ) | -- | (11.6 | ) | ||||||||||||||
Investment tax
credits
|
(12.6 | ) | -- | (12.6 | ) | (13.9 | ) | -- | (13.9 | ) | ||||||||||||||
Emission
allowances
|
(13.4 | ) | -- | (13.4 | ) | (24.5 | ) | -- | (24.5 | ) | ||||||||||||||
Regulatory liability
- DAEC sale
|
(15.7 | ) | -- | (15.7 | ) | (24.3 | ) | -- | (24.3 | ) | ||||||||||||||
Customer
advances
|
(16.4 | ) | -- | (16.4 | ) | (15.2 | ) | -- | (15.2 | ) | ||||||||||||||
Net
operating losses carryforward - state
|
(28.0 | ) | -- | (28.0 | ) | (19.4 | ) | -- | (19.4 | ) | ||||||||||||||
Regulatory liability
- IPL’s electric
|
||||||||||||||||||||||||
transmission assets
sale
|
(32.1 | ) | -- | (32.1 | ) | (36.5 | ) | -- | (36.5 | ) | ||||||||||||||
Net
operating losses carryforward - federal
|
(53.4 | ) | -- | (53.4 | ) | -- | -- | -- | ||||||||||||||||
Regulatory liability
- repairs expenditures
|
(53.5 | ) | -- | (53.5 | ) | -- | -- | -- | ||||||||||||||||
Credits carryforward
- federal
|
(80.2 | ) | -- | (80.2 | ) | -- | -- | -- | ||||||||||||||||
Other
|
(50.1 | ) | 43.1 | (7.0 | ) | (45.0 | ) | 32.4 | (12.6 | ) | ||||||||||||||
Subtotal
|
(386.9 | ) | 1,500.7 | 1,113.8 | (252.5 | ) | 1,165.3 | 912.8 | ||||||||||||||||
Valuation
allowances
|
27.1 | -- | 27.1 | 32.6 | -- | 32.6 | ||||||||||||||||||
$ | (359.8 | ) | $ | 1,500.7 | $ | 1,140.9 | $ | (219.9 | ) | $ | 1,165.3 | $ | 945.4 |
2009
|
2008
|
|||||||
Other current
assets
|
$ | (45.5 | ) | $ | (25.8 | ) | ||
Deferred income
taxes
|
1,186.4 | 971.2 | ||||||
Total deferred tax (assets) and
liabilities
|
$ | 1,140.9 | $ | 945.4 |
Carryforward
|
Deferred
Tax
|
Earliest
|
||||||||||
Amount
|
Asset
|
Expiration
Date
|
||||||||||
Federal net
operating losses
|
$ | 155 | $ | 53 | 2029 | |||||||
Federal credit
carryforward - alternative minimum tax
|
53 | 53 |
None
|
|||||||||
Federal credit
carryforward - general business credits
|
27 | 27 | 2022 | |||||||||
State net operating
losses
|
552 | 28 | 2010 | |||||||||
Wisconsin state
capital losses
|
448 | 9 | 2010 |
2009
|
2008
|
2007
|
||||||||||
Balance, Jan.
1
|
$ | 14.0 | $ | 24.5 | $ | 26.6 | ||||||
Additions based on
tax positions related to the current year
|
6.6 | 2.1 | 1.1 | |||||||||
Reductions based on
tax positions related to the current year
|
-- | -- | -- | |||||||||
Additions for tax
positions of prior years (a)
|
88.7 | 8.0 | 2.4 | |||||||||
Reductions for tax
positions of prior years
|
(4.5 | ) | (6.2 | ) | (2.6 | ) | ||||||
Settlements with
taxing authorities
|
(1.2 | ) | (11.9 | ) | -- | |||||||
Lapse of statute of
limitations
|
(1.9 | ) | (2.5 | ) | (3.0 | ) | ||||||
Balance, Dec.
31
|
$ | 101.7 | $ | 14.0 | $ | 24.5 |
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
||||||||||
2009
|
2008
|
2007
|
||||||||||
Tax
positions favorably impacting future effective tax rates for continuing
operations
|
$ | 13.6 | $ | 11.2 | $ | 11.8 | ||||||
Interest
accrued
|
5.0 | 1.9 | 5.1 | |||||||||
Penalties
accrued
|
-- | -- | -- |
Major
Jurisdiction
|
Open
Years
|
|
Consolidated Federal
income tax returns (Alliant Energy, IPL and WPL)
|
2005-2008
|
|
Consolidated Iowa
income tax returns (Alliant Energy and IPL)
|
2005-2008
(a)
|
|
Wisconsin income tax
returns (WPL)
|
2005-2008
|
Defined Benefit
Pension Plans
|
Other Postretirement
Benefits Plans
|
||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
||||||
Discount rate for
benefit obligations
|
5.80%
|
6.15%
|
6.2%
|
5.55%
|
6.15%
|
6.2%
|
|||||
Discount rate for
net periodic cost
|
6.15%
|
6.2%
|
5.85%
|
6.15%
|
6.2%
|
5.85%
|
|||||
Expected rate of
return on plan assets
|
8.25%
|
8.5%
|
8.5%
|
8.25%
|
8.5%
|
8.5%
|
|||||
Rate of compensation
increase
|
3.5-4.5%
|
3.5-4.5%
|
3.5-4.5%
|
3.5%
|
3.5%
|
3.5%
|
|||||
Medical cost trend
on covered charges:
|
|||||||||||
Initial trend rate
|
N/A
|
N/A
|
N/A
|
7.5%
|
8%
|
8%
|
|||||
Ultimate trend rate
|
N/A
|
N/A
|
N/A
|
5%
|
5%
|
5%
|
1%
Increase
|
1%
Decrease
|
|||||||
Effect on total of
service and interest cost components
|
$ | 1.3 | $ | (1.3 | ) | |||
Effect on
postretirement benefit obligation
|
12.1 | (12.7 | ) |
Defined Benefit
Pension Plans
|
Other Postretirement
Benefits Plans
|
|||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||
Service
cost
|
$ | 11.9 | $ | 16.3 | $ | 20.0 | $ | 8.7 | $ | 8.4 | $ | 8.2 | ||||||||||||
Interest
cost
|
54.3 | 54.6 | 50.4 | 15.2 | 15.1 | 13.7 | ||||||||||||||||||
Expected return on
plan assets (a)
|
(47.6 | ) | (74.6 | ) | (66.6 | ) | (6.1 | ) | (9.0 | ) | (7.6 | ) | ||||||||||||
Amortization of
(b):
|
||||||||||||||||||||||||
Transition obligation
|
-- | -- | -- | 0.2 | 0.2 | 0.2 | ||||||||||||||||||
Prior service cost
(credit)
|
2.1 | 2.9 | 3.1 | (3.7 | ) | (3.7 | ) | (3.7 | ) | |||||||||||||||
Actuarial loss
|
30.6 | 4.2 | 8.9 | 6.2 | 3.5 | 4.2 | ||||||||||||||||||
Curtailment losses
(c)(d)
|
1.0 | -- | -- | -- | -- | -- | ||||||||||||||||||
Special termination
benefits costs (d)
|
0.9 | -- | -- | -- | -- | -- | ||||||||||||||||||
Settlement loss
(e)
|
-- | -- | 2.1 | -- | -- | -- | ||||||||||||||||||
$ | 53.2 | $ | 3.4 | $ | 17.9 | $ | 20.5 | $ | 14.5 | $ | 15.0 |
(a)
|
The expected return
on plan assets is based on the expected rate of return on plan assets and
the fair value approach to the market-related value of plan
assets.
|
(b)
|
Unrecognized net
actuarial losses in excess of 10% of the projected benefit obligation and
unrecognized prior service costs (credits) are amortized over the average
future service lives of the participants for each
plan. Unrecognized net transition obligations related to other
postretirement benefits are amortized over a 20-year period ending
2012.
|
(c)
|
In 2007, members of
the International Brotherhood of Electrical Workers Local 965 ratified a
four-year collective bargaining agreement reached with WPL, resulting in
changes to WPL’s qualified pension plan (Plan). One of these
changes provided Plan participants a one-time option to cease
participating in the Plan and begin participating in the Alliant Energy
401(k) Savings Plan with increased levels of contribution by Alliant
Energy. The election of this option did not impact a
participant’s eligibility for benefits previously vested under the
Plan. In 2009, certain of these employees elected to cease
participating in the Plan, resulting in Alliant Energy and WPL recognizing
a one-time curtailment loss related to the Plan of $0.7 million in
2009.
|
(d)
|
In 2009, Alliant
Energy eliminated certain corporate and operations
positions. As a result, Alliant Energy recognized one-time
curtailment losses and special termination benefits costs related to its
pension plans of $0.3 million and $0.9 million, respectively, in
2009.
|
(e)
|
In 2007, the
settlement loss of $2.1 million related to payments made to a retired
executive of Alliant Energy.
|
Defined
Benefit
|
Other
Postretirement
|
|||||||
Pension
Plans
|
Benefits
Plans
|
|||||||
Actuarial
loss
|
$ | 23.9 | $ | 6.6 | ||||
Prior service cost
(credit)
|
0.9 | (3.7 | ) | |||||
Transition
obligation
|
-- | 0.2 | ||||||
$ | 24.8 | $ | 3.1 |
Defined
Benefit
|
Other
Postretirement
|
|||||||||||||||
Pension
Plans
|
Benefits
Plans
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Change in projected
benefit obligation:
|
||||||||||||||||
Net projected benefit obligation at
measurement date
|
$ | 896.4 | $ | 879.0 | $ | 247.7 | $ | 243.2 | ||||||||
Effect of change from Sep. 30 to Dec. 31
measurement date
|
-- | 7.1 | -- | 1.1 | ||||||||||||
Service cost
|
11.9 | 16.3 | 8.7 | 8.4 | ||||||||||||
Interest cost
|
54.3 | 54.6 | 15.2 | 15.1 | ||||||||||||
Plan participants’
contributions
|
-- | -- | 4.7 | 4.4 | ||||||||||||
Plan amendments (a)
|
(12.4 | ) | -- | -- | -- | |||||||||||
Actuarial (gain) loss
|
21.9 | (14.1 | ) | 13.7 | (1.4 | ) | ||||||||||
Gross benefits paid
|
(52.9 | ) | (46.5 | ) | (22.7 | ) | (24.2 | ) | ||||||||
Federal subsidy on other postretirement
benefits paid
|
-- | -- | 1.1 | 1.1 | ||||||||||||
Special termination
benefits
|
0.9 | -- | -- | -- | ||||||||||||
Net projected benefit obligation at Dec.
31
|
920.1 | 896.4 | 268.4 | 247.7 | ||||||||||||
Change in plan
assets:
|
||||||||||||||||
Fair value of plan assets at measurement
date
|
565.9 | 890.0 | 80.2 | 116.4 | ||||||||||||
Effect of change from Sep. 30 to Dec. 31
measurement date
|
-- | 7.8 | -- | 1.1 | ||||||||||||
Actual return on plan
assets
|
132.6 | (287.8 | ) | 19.2 | (32.7 | ) | ||||||||||
Employer contributions
|
130.8 | 2.4 | 21.0 | 15.2 | ||||||||||||
Plan participants’
contributions
|
-- | -- | 4.7 | 4.4 | ||||||||||||
Gross benefits paid
|
(52.9 | ) | (46.5 | ) | (22.7 | ) | (24.2 | ) | ||||||||
Fair value of plan assets at Dec.
31
|
776.4 | 565.9 | 102.4 | 80.2 | ||||||||||||
Under funded status
at Dec. 31
|
$ | (143.7 | ) | $ | (330.5 | ) | $ | (166.0 | ) | $ | (167.5 | ) | ||||
Amounts recognized
on the Consolidated
|
||||||||||||||||
Balance Sheets consist of:
|
||||||||||||||||
Other current liabilities
|
$ | (8.2 | ) | $ | (4.6 | ) | $ | (3.7 | ) | $ | (4.8 | ) | ||||
Pension and other benefit
obligations
|
(135.5 | ) | (325.9 | ) | (162.3 | ) | (162.7 | ) | ||||||||
Net amount recognized at Dec.
31
|
$ | (143.7 | ) | $ | (330.5 | ) | $ | (166.0 | ) | $ | (167.5 | ) |
Defined
Benefit
|
Other
Postretirement
|
|||||||||||||||
Pension
Plans
|
Benefits
Plans
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Amounts recognized
in Regulatory Assets and AOCL
|
||||||||||||||||
consist of (b):
|
||||||||||||||||
Net actuarial loss
|
$ | 389.0 | $ | 482.7 | $ | 91.0 | $ | 96.0 | ||||||||
Prior service cost
(credit)
|
(5.3 | ) | 10.2 | (5.5 | ) | (9.2 | ) | |||||||||
Transition obligation
|
-- | -- | 0.5 | 0.7 | ||||||||||||
$ | 383.7 | $ | 492.9 | $ | 86.0 | $ | 87.5 |
(a)
|
Refer to “Cash
Balance Pension Plan” below for additional information regarding the 2009
plan amendment.
|
(b)
|
Refer to Note 1(b)
and Alliant Energy’s “Consolidated Statements of Common Equity” for
amounts recognized in “Regulatory assets” and “AOCL,” respectively, on
Alliant Energy’s Consolidated Balance
Sheets.
|
Defined
Benefit
|
Other
Postretirement
|
|||||||||||||||
Pension
Plans
|
Benefits
Plans
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Accumulated benefit
obligations
|
$ | 870.0 | $ | 843.4 | $ | 268.4 | $ | 247.7 | ||||||||
Plans with
accumulated benefit obligations in excess
|
||||||||||||||||
of plan assets:
|
||||||||||||||||
Accumulated benefit
obligations
|
870.0 | 843.4 | 268.4 | 247.7 | ||||||||||||
Fair value of plan
assets
|
776.4 | 565.9 | 102.4 | 80.2 | ||||||||||||
Plans with projected
benefit obligations in excess
|
||||||||||||||||
of plan assets:
|
||||||||||||||||
Projected benefit
obligations
|
920.1 | 896.4 | N/A | N/A | ||||||||||||
Fair value of plan
assets
|
776.4 | 565.9 | N/A | N/A |
2010
|
2011
|
2012
|
2013
|
2014
|
2015 - 2019 | |||||||||||||||||||
Defined benefit
pension plans
|
$ | 55.8 | $ | 54.4 | $ | 54.9 | $ | 57.3 | $ | 60.8 | $ | 341.2 | ||||||||||||
Other postretirement
benefits plans
|
19.8 | 19.7 | 20.2 | 20.6 | 21.6 | 121.5 | ||||||||||||||||||
Medicare
subsidies
|
(1.2 | ) | (1.3 | ) | (1.5 | ) | (1.7 | ) | (1.8 | ) | (12.4 | ) | ||||||||||||
$ | 74.4 | $ | 72.8 | $ | 73.6 | $ | 76.2 | $ | 80.6 | $ | 450.3 |
Fair Value of
Invested Collateral
|
Amount Due to
Borrowers
|
|||||||||||||||
Defined
Benefit
|
Other
Postretirement
|
Defined
Benefit
|
Other
Postretirement
|
|||||||||||||
Pension
Plans
|
Benefits
Plans
|
Pension
Plans
|
Benefits
Plans
|
|||||||||||||
Alliant
Energy
|
$ | 24.8 | $ | 1.2 | $ | 32.7 | $ | 1.6 | ||||||||
IPL
|
7.8 | 0.8 | 10.2 | 1.1 | ||||||||||||
WPL
|
7.6 | 0.2 | 10.0 | 0.3 |
Fair
Value
|
||||||||||||||||
Measurements
|
||||||||||||||||
at Dec. 31,
2009
|
Level
1
|
Level
2
|
Level
3
|
|||||||||||||
Cash and
equivalents
|
$ | 36.3 | $ | 36.3 | $ | -- | $ | -- | ||||||||
Equity
securities:
|
||||||||||||||||
U.S. large cap core
|
104.5 | 104.5 | -- | -- | ||||||||||||
U.S. large cap value
|
87.2 | -- | 87.2 | -- | ||||||||||||
U.S. large cap growth
|
86.7 | -- | 86.7 | -- | ||||||||||||
U.S. small cap value
|
23.3 | -- | 23.3 | -- | ||||||||||||
U.S. small cap growth
|
13.8 | 13.8 | -- | -- | ||||||||||||
International - developed
markets
|
131.0 | 68.4 | 62.6 | -- | ||||||||||||
International - emerging
markets
|
39.3 | 39.3 | -- | -- | ||||||||||||
Fixed income
securities:
|
||||||||||||||||
Corporate bonds
|
61.9 | -- | 61.9 | -- | ||||||||||||
Government and agency
obligations
|
70.9 | -- | 70.9 | -- | ||||||||||||
Fixed income funds
|
131.2 | 1.5 | 129.7 | -- | ||||||||||||
Securities lending
invested collateral
|
24.8 | 6.7 | 14.9 | 3.2 | ||||||||||||
810.9 | $ | 270.5 | $ | 537.2 | $ | 3.2 | ||||||||||
Accrued investment
income
|
1.6 | |||||||||||||||
Due
to brokers, net (a)
|
(3.4 | ) | ||||||||||||||
Due
to borrowers for securities lending program
|
(32.7 | ) | ||||||||||||||
Total pension plan assets
|
$ | 776.4 |
Securities
Lending
|
||||
Invested
Collateral
|
||||
Beginning balance,
Jan. 1, 2009
|
$ | 7.3 | ||
Actual return on plan
assets:
|
||||
Relating to assets
still held at the reporting date
|
(0.3 | ) | ||
Relating to assets
sold during the period
|
0.4 | |||
Purchases, sales and settlements,
net
|
(4.4 | ) | ||
Transfers in and/or out of Level
3
|
0.2 | |||
Ending balance, Dec.
31, 2009
|
$ | 3.2 |
Fair
Value
|
||||||||||||||||
Measurements
|
||||||||||||||||
at Dec. 31,
2009
|
Level
1
|
Level
2
|
Level
3
|
|||||||||||||
Cash and
equivalents
|
$ | 10.6 | $ | 10.6 | $ | -- | $ | -- | ||||||||
Equity
securities:
|
||||||||||||||||
U.S. large cap core
|
30.7 | 30.7 | -- | -- | ||||||||||||
U.S. large cap value
|
2.2 | -- | 2.2 | -- | ||||||||||||
U.S. large cap growth
|
2.2 | -- | 2.2 | -- | ||||||||||||
U.S. mid cap core
|
15.1 | 15.1 | -- | -- | ||||||||||||
U.S. small cap core
|
4.7 | 4.7 | -- | -- | ||||||||||||
U.S. small cap value
|
0.6 | -- | 0.6 | -- | ||||||||||||
U.S. small cap growth
|
0.4 | 0.4 | -- | -- | ||||||||||||
International - developed
markets
|
3.3 | 1.7 | 1.6 | -- | ||||||||||||
International - emerging
markets
|
1.0 | 1.0 | -- | -- | ||||||||||||
Fixed income
securities:
|
||||||||||||||||
Corporate bonds
|
6.2 | -- | 6.2 | -- | ||||||||||||
Government and agency
obligations
|
4.5 | -- | 4.5 | -- | ||||||||||||
Fixed income funds
|
21.3 | 18.0 | 3.3 | -- | ||||||||||||
Securities lending
invested collateral
|
1.2 | 0.3 | 0.8 | 0.1 | ||||||||||||
104.0 | $ | 82.5 | $ | 21.4 | $ | 0.1 | ||||||||||
Accrued investment
income
|
0.1 | |||||||||||||||
Due
to brokers, net (a)
|
(0.1 | ) | ||||||||||||||
Due
to borrowers for securities lending program
|
(1.6 | ) | ||||||||||||||
Total other postretirement benefits plan
assets
|
$ | 102.4 |
Securities
Lending
|
||||
Invested
Collateral
|
||||
Beginning balance,
Jan. 1, 2009
|
$ | 0.3 | ||
Purchases, sales and settlements,
net
|
(0.2 | ) | ||
Ending balance, Dec.
31, 2009
|
$ | 0.1 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
||||||||||||||||||||||||||||
401(k) plan
contributions
|
$ | 16.2 | $ | 14.4 | $ | 10.2 | $ | 2.8 | $ | 3.0 | $ | 2.6 | $ | 4.3 | $ | 3.7 | $ | 2.5 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
||||||||||||||||||||||||||||
Share-based
compensation expense
|
$ | 2.8 | $ | 3.3 | $ | 9.5 | $ | 1.6 | $ | 1.8 | $ | 5.0 | $ | 1.1 | $ | 1.2 | $ | 3.6 | ||||||||||||||||||
Income tax
benefits
|
1.2 | 1.4 | 3.7 | 0.7 | 0.8 | 1.9 | 0.4 | 0.5 | 1.4 |
2009
|
2008
|
2007
|
|||
Shares
(a)
|
Shares
(a)
|
Shares
(a)
|
|||
Nonvested shares at
Jan. 1
|
208,579
|
221,834
|
277,530
|
||
Granted
|
152,735
|
65,516
|
58,669
|
||
Vested
|
(84,633)
|
(78,532)
|
(104,074)
|
||
Forfeited
|
(20,102)
|
(239)
|
(10,291)
|
||
Nonvested shares at
Dec. 31
|
256,579
|
208,579
|
221,834
|
(a)
|
Share amounts
represent the target number of performance shares. The actual
number of shares that will be paid out upon vesting is dependent upon
actual performance and may range from zero to 200% of the number of target
shares.
|
2009
Grant
|
2008
Grant
|
2007
Grant
|
||||||||||
Nonvested
performance shares
|
138,148 | 61,331 | 57,100 | |||||||||
Alliant Energy
common stock closing price on Dec. 31, 2009
|
$ | 30.26 | $ | 30.26 | $ | 30.26 | ||||||
Estimated payout
percentage based on performance criteria
|
87 | % | 60 | % | -- | % | ||||||
Fair values of each
nonvested performance share
|
$ | 26.33 | $ | 18.16 | $ | -- |
2009
|
2008
|
2007
|
||||||||||||||||||||||
Weighted
|
Weighted
|
Weighted
|
||||||||||||||||||||||
Average
|
Average
|
Average
|
||||||||||||||||||||||
Shares
|
Fair
Value
|
Shares
|
Fair
Value
|
Shares
|
Fair
Value
|
|||||||||||||||||||
Nonvested shares at
Jan. 1
|
156,807 | $ | 32.80 | 165,832 | $ | 30.66 | 182,886 | $ | 27.89 | |||||||||||||||
Granted
|
51,236 | 29.40 | 47,922 | 35.60 | 43,850 | 36.80 | ||||||||||||||||||
Vested
|
(79,459 | ) | 31.08 | (53,322 | ) | 28.46 | (57,904 | ) | 26.42 | |||||||||||||||
Forfeited
|
(3,235 | ) | 33.97 | (3,625 | ) | 35.69 | (3,000 | ) | 33.05 | |||||||||||||||
Nonvested shares at
Dec. 31
|
125,349 | 32.47 | 156,807 | 32.80 | 165,832 | 30.66 |
2009
|
2008
|
2007
|
||||||||||||||||||||||
Weighted
|
Weighted
|
Weighted
|
||||||||||||||||||||||
Average
|
Average
|
Average
|
||||||||||||||||||||||
Shares
|
Fair
Value
|
Shares
|
Fair
Value
|
Shares
|
Fair
Value
|
|||||||||||||||||||
Nonvested shares at
Jan. 1
|
124,185 | $ | 39.28 | 135,348 | $ | 32.42 | 149,563 | $ | 28.12 | |||||||||||||||
Granted
|
101,822 | 23.67 | 65,516 | 40.49 | 58,669 | 37.94 | ||||||||||||||||||
Vested
|
-- | -- | (54,991 | ) | 28.20 | (58,015 | ) | 28.04 | ||||||||||||||||
Forfeited
|
-- | -- | (21,688 | ) | 28.19 | (14,869 | ) | 28.06 | ||||||||||||||||
Nonvested shares at
Dec. 31
|
226,007 | 32.25 | 124,185 | 39.28 | 135,348 | 32.42 |
2009
|
2008
|
2007
|
||||||||||||||||||||||
Weighted
|
Weighted
|
Weighted
|
||||||||||||||||||||||
Average
|
Average
|
Average
|
||||||||||||||||||||||
Exercise
|
Exercise
|
Exercise
|
||||||||||||||||||||||
Shares
|
Price
|
Shares
|
Price
|
Shares
|
Price
|
|||||||||||||||||||
Outstanding at Jan.
1
|
497,183 | $ | 27.30 | 542,844 | $ | 27.45 | 1,768,236 | $ | 27.70 | |||||||||||||||
Exercised
|
(39,877 | ) | 25.80 | (45,661 | ) | 29.02 | (1,225,392 | ) | 27.81 | |||||||||||||||
Expired
|
(56,098 | ) | 29.88 | -- | -- | -- | -- | |||||||||||||||||
Forfeited
|
(16,877 | ) | 28.67 | -- | -- | -- | -- | |||||||||||||||||
Outstanding and
exercisable at Dec. 31
|
384,331 | 27.02 | 497,183 | 27.30 | 542,844 | 27.45 |
2009
|
2008
|
2007
|
||||||||||
Cash received from
stock options exercised
|
$ | 1.0 | $ | 1.3 | $ | 34.1 | ||||||
Aggregate intrinsic
value of stock options exercised
|
0.1 | 0.3 | 16.3 | |||||||||
Income tax benefit
from the exercise of stock options
|
0.1 | 0.1 | 5.8 | |||||||||
Total fair value of
stock options vested during period
|
-- | -- | 0.4 |
2009
|
2008
|
2007
|
|||
Shares outstanding,
Jan. 1
|
110,449,099
|
110,359,314
|
116,126,599
|
||
Share repurchase
program (a)
|
--
|
--
|
(7,043,474)
|
||
Equity incentive
plans (Note 6(b))
|
240,889
|
137,621
|
1,318,683
|
||
Other
(b)
|
(33,490)
|
(47,836)
|
(42,494)
|
||
Shares outstanding,
Dec. 31
|
110,656,498
|
110,449,099
|
110,359,314
|
(a)
|
In 2006 and 2007,
Alliant Energy announced that its Board of Directors approved plans to
repurchase up to $400 million of its common stock. In 2007,
Alliant Energy repurchased 7.0 million shares of its common stock on the
open market for $295 million. At Dec. 31, 2007, Alliant Energy
had completed the entire $400 million share repurchase program previously
authorized by its Board of
Directors.
|
(b)
|
Includes shares
transferred from employees to Alliant Energy to satisfy tax withholding
requirements in connection with the vesting of certain restricted stock
under the EIP.
|
2009
|
2008
|
|||||||
IPL
|
$ | 1.1 | $ | 0.9 | ||||
WPL
|
1.1 | 1.0 |
IPL
|
WPL
|
Resources
|
||||||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
2009
|
||||||||||||||||||||||
Common stock
dividends to Alliant Energy
|
$ | -- | $ | 29 | $ | 610 | $ | 91 | $ | 91 | $ | 191 | $ | -- | ||||||||||||||
Repayment of capital
to Alliant Energy
|
106 | 75 | -- | -- | -- | -- | 100 | |||||||||||||||||||||
Total distributions
from common equity
|
$ | 106 | $ | 104 | $ | 610 | $ | 91 | $ | 91 | $ | 191 | $ | 100 |
IPL
|
WPL
|
|||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||
Capital
contributions from Alliant Energy
|
$ | 150 | $ | 200 | $ | 100 | $ | 100 | $ | 100 | $ | -- |
Liquidation
Preference/
|
Authorized
|
Shares
|
|||||||||||||
Stated
Value
|
Shares
|
Outstanding
|
Series
|
Redemption
|
2009
|
2008
|
|||||||||
IPL:
|
|||||||||||||||
$25
|
(a)
|
6,000,000
|
8.375%
|
On or after March
15, 2013
|
$150.0
|
$150.0
|
|||||||||
$25
|
(a)
|
1,600,000
|
7.1%
|
Any
time
|
40.0
|
40.0
|
|||||||||
190.0
|
190.0
|
||||||||||||||
Less: discount
|
(6.2)
|
(6.2)
|
|||||||||||||
183.8
|
183.8
|
||||||||||||||
WPL:
|
|||||||||||||||
$100
|
(b)
|
99,970
|
4.50%
|
Any
time
|
10.0
|
10.0
|
|||||||||
$100
|
(b)
|
74,912
|
4.80%
|
Any
time
|
7.5
|
7.5
|
|||||||||
$100
|
(b)
|
64,979
|
4.96%
|
Any
time
|
6.5
|
6.5
|
|||||||||
$100
|
(b)
|
29,957
|
4.40%
|
Any
time
|
3.0
|
3.0
|
|||||||||
$100
|
(b)
|
29,947
|
4.76%
|
Any
time
|
3.0
|
3.0
|
|||||||||
$100
|
(b)
|
150,000
|
6.20%
|
Any
time
|
15.0
|
15.0
|
|||||||||
$25
|
(b)
|
599,460
|
6.50%
|
Any
time
|
15.0
|
15.0
|
|||||||||
60.0
|
60.0
|
||||||||||||||
$243.8
|
$243.8
|
||||||||||||||
(a) IPL has 16,000,000 authorized shares in total. | |||||||||||||||
(b) WPL has 3,750,000 authorized shares in total. |
2009
|
2008
|
2007
|
||||||||||
Beginning balance,
Jan. 1
|
$ | 2.1 | $ | 3.9 | $ | 4.9 | ||||||
Sale of
investments
|
-- | (1.8 | ) | (0.3 | ) | |||||||
Other
|
-- | -- | (0.7 | ) | ||||||||
Ending balance, Dec.
31
|
$ | 2.1 | $ | 2.1 | $ | 3.9 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
At Dec.
31:
|
||||||||||||||||||||||||
Commercial paper
outstanding
|
$ | 190.0 | $ | 86.1 | $ | 190.0 | $ | 42.4 | $ | -- | $ | 43.7 | ||||||||||||
Weighted average
interest rates - commercial paper
|
0.4 | % | 1.2 | % | 0.4 | % | 1.1 | % | N/A | 1.4 | % | |||||||||||||
For the year
ended:
|
||||||||||||||||||||||||
Maximum amount of
total short-term debt outstanding
|
||||||||||||||||||||||||
(based on daily outstanding
balances)
|
$ | 255.9 | $ | 255.3 | $ | 190.0 | $ | 139.3 | $ | 103.1 | $ | 138.0 | ||||||||||||
Average amount of
total short-term debt outstanding
|
||||||||||||||||||||||||
(based on daily outstanding
balances)
|
$ | 80.6 | $ | 89.6 | $ | 52.8 | $ | 26.2 | $ | 26.4 | $ | 63.7 | ||||||||||||
Weighted average
interest rates - total short-term debt
|
0.8 | % | 3.0 | % | 0.7 | % | 3.1 | % | 0.5 | % | 3.0 | % |
2009
|
2008
|
|||||||||||||||||||||||||
Alliant
|
Alliant
|
|||||||||||||||||||||||||
Energy
|
IPL
|
WPL
|
Energy
|
IPL
|
WPL
|
|||||||||||||||||||||
Senior
Debentures:
|
||||||||||||||||||||||||||
6.75%, due
2011
|
$ | 200.0 | $ | 200.0 | $ | -- | $ | 200.0 | $ | 200.0 | $ | -- | ||||||||||||||
5.875%, due
2018
|
100.0 | 100.0 | -- | 100.0 | 100.0 | -- | ||||||||||||||||||||
7.25%, due
2018
|
250.0 | 250.0 | -- | 250.0 | 250.0 | -- | ||||||||||||||||||||
5.5%, due
2025
|
50.0 | 50.0 | -- | 50.0 | 50.0 | -- | ||||||||||||||||||||
6.45%, due
2033
|
100.0 | 100.0 | -- | 100.0 | 100.0 | -- | ||||||||||||||||||||
6.3%, due
2034
|
125.0 | 125.0 | -- | 125.0 | 125.0 | -- | ||||||||||||||||||||
6.25%, due 2039
(a)
|
300.0 | 300.0 | -- | -- | -- | -- | ||||||||||||||||||||
6.625% (a) | -- | -- | -- | 135.0 | 135.0 | -- | ||||||||||||||||||||
1,125.0 | 1,125.0 | -- | 960.0 | 960.0 | -- | |||||||||||||||||||||
Debentures:
|
||||||||||||||||||||||||||
7.625%, due
2010
|
100.0 | -- | 100.0 | 100.0 | -- | 100.0 | ||||||||||||||||||||
5%,
due 2019 (b)
|
250.0 | -- | 250.0 | -- | -- | -- | ||||||||||||||||||||
6.25%, due
2034
|
100.0 | -- | 100.0 | 100.0 | -- | 100.0 | ||||||||||||||||||||
6.375%, due
2037
|
300.0 | -- | 300.0 | 300.0 | -- | 300.0 | ||||||||||||||||||||
7.6%, due
2038
|
250.0 | -- | 250.0 | 250.0 | -- | 250.0 | ||||||||||||||||||||
1,000.0 | -- | 1,000.0 | 750.0 | -- | 750.0 | |||||||||||||||||||||
Pollution Control
Revenue Bonds:
|
||||||||||||||||||||||||||
5%,
due 2014
|
38.4 | 38.4 | -- | 38.4 | 38.4 | -- | ||||||||||||||||||||
5%,
due 2014 and 2015
|
24.5 | -- | 24.5 | 24.5 | -- | 24.5 | ||||||||||||||||||||
5.375%, due
2015
|
14.6 | -- | 14.6 | 14.6 | -- | 14.6 | ||||||||||||||||||||
77.5 | 38.4 | 39.1 | 77.5 | 38.4 | 39.1 | |||||||||||||||||||||
Other:
|
||||||||||||||||||||||||||
4%
senior notes, due 2014 (c)
|
250.0 | -- | -- | -- | -- | -- | ||||||||||||||||||||
5.06% senior secured
notes, due 2010 to 2024
|
65.7 | -- | -- | 66.8 | -- | -- | ||||||||||||||||||||
2.5% exchangeable
senior notes, due 2030 (d)
|
-- | -- | -- | 402.5 | -- | -- | ||||||||||||||||||||
Other, 1% to 7%, due
2010 to 2025
|
0.8 | -- | -- | 0.9 | -- | -- | ||||||||||||||||||||
316.5 | -- | -- | 470.2 | -- | -- | |||||||||||||||||||||
Subtotal
|
2,519.0 | 1,163.4 | 1,039.1 | 2,257.7 | 998.4 | 789.1 | ||||||||||||||||||||
Current
maturities
|
(101.5 | ) | -- | (100.0 | ) | (136.4 | ) | (135.0 | ) | -- | ||||||||||||||||
Unamortized debt
(discount) and premium, net
|
(13.0 | ) | (4.7 | ) | (7.5 | ) | (373.0 | ) | (3.2 | ) | (6.2 | ) | ||||||||||||||
Long-term debt,
net
|
$ | 2,404.5 | $ | 1,158.7 | $ | 931.6 | $ | 1,748.3 | $ | 860.2 | $ | 782.9 |
(a)
|
In July 2009, IPL
issued $300 million of 6.25% senior debentures due 2039 and used the
proceeds initially to repay short-term debt and invest in short-term
assets and thereafter to repay $135 million of its 6.625% senior
debentures in August 2009.
|
(b)
|
In July 2009, WPL
issued $250 million of 5% debentures due 2019 and used the proceeds
initially to repay short-term debt and invest in short-term assets, and
thereafter to fund capital expenditures and for general working capital
purposes.
|
(c)
|
In October 2009,
Alliant Energy issued $250 million of 4% senior notes due 2014 and used
the proceeds to repay short-term debt and the remainder for general
corporate purposes.
|
(d)
|
In September 2009,
Alliant Energy announced a tender offer and consent solicitation for all
5,940,960 of its 2.5% Exchangeable Senior Notes due 2030
(Notes). In 2009, Alliant Energy received valid tenders and
consents from holders of 5,940,660 Notes and made $241 million of payments
related to the Notes tendered using short-term borrowings and cash on
hand. These payments exceeded the carrying value of the Notes
tendered resulting in Alliant Energy incurring $203 million of pre-tax
charges in 2009 related to the repurchase of the Notes. These
pre-tax charges were recorded in “Loss on early extinguishment of debt” in
Alliant Energy’s Consolidated Statements of Income in 2009. As
of Dec. 31, 2009, there were 300 Notes
outstanding.
|
2010
|
2011
|
2012
|
2013
|
2014
|
||||||||||||||||
IPL
|
$ | -- | $ | 200 | $ | -- | $ | -- | $ | 38 | ||||||||||
WPL
|
100 | -- | -- | -- | 9 | |||||||||||||||
Resources
|
2 | 1 | 1 | 1 | 2 | |||||||||||||||
Alliant Energy
parent company
|
-- | -- | -- | -- | 250 | |||||||||||||||
Alliant Energy
|
$ | 102 | $ | 201 | $ | 1 | $ | 1 | $ | 299 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Unamortized debt
issuance costs
|
$ | 19.3 | $ | 14.8 | $ | 8.3 | $ | 6.2 | $ | 8.5 | $ | 7.1 |
Ownership
|
Carrying
Value
|
|||||||||||||||||||||||
Interest
at
|
at Dec.
31,
|
Equity (Income) /
Loss
|
||||||||||||||||||||||
Dec. 31,
2009
|
2009
|
2008
|
2009
|
2008
|
2007
|
|||||||||||||||||||
ATC
(a)
|
16 | % | $ | 219 | $ | 195 | $ | (36 | ) | $ | (32 | ) | $ | (27 | ) | |||||||||
Wisconsin River
Power Company
|
50 | % | 8 | 9 | (1 | ) | (2 | ) | (1 | ) | ||||||||||||||
Other
|
Various
|
2 | 2 | -- | 1 | (1 | ) | |||||||||||||||||
$ | 229 | $ | 206 | $ | (37 | ) | $ | (33 | ) | $ | (29 | ) |
(a)
|
Alliant Energy has
the ability to exercise significant influence over ATC’s financial and
operating policies through its participation on ATC’s Board of
Directors. Refer to Note 20 for information regarding related
party transactions with ATC.
|
2009
|
2008
|
2007
|
||||||||||
Operating revenues
|
$ | 529 | $ | 474 | $ | 424 | ||||||
Operating income
|
292 | 258 | 210 | |||||||||
Net income
|
218 | 197 | 168 | |||||||||
As
of Dec. 31:
|
||||||||||||
Current assets
|
56 | 56 | ||||||||||
Non-current assets
|
2,814 | 2,546 | ||||||||||
Current liabilities
|
286 | 257 | ||||||||||
Non-current liabilities
|
1,341 | 1,234 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Cash surrender
value
|
$ | 47.8 | $ | 46.0 | $ | 13.2 | $ | 12.9 | $ | 14.0 | $ | 13.4 |
2009
|
2008
|
|||||||||||||||
Carrying/Fair
|
Unrealized
Gains,
|
Carrying/Fair
|
Unrealized
Gains,
|
|||||||||||||
Value
|
Net
of Tax
|
Value
|
Net of
Tax
|
|||||||||||||
Available-for-sale
securities
|
$ | 4.2 | $ | 0.6 | $ | 3.8 | $ | 0.2 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
Carrying
|
Fair
|
Carrying
|
Fair
|
Carrying
|
Fair
|
|||||||||||||||||||
Amount
|
Value
|
Amount
|
Value
|
Amount
|
Value
|
|||||||||||||||||||
Dec. 31,
2009
|
||||||||||||||||||||||||
Assets:
|
||||||||||||||||||||||||
Derivative assets (Note
11(a))
|
$ | 31.8 | $ | 31.8 | $ | 16.4 | $ | 16.4 | $ | 15.3 | $ | 15.3 | ||||||||||||
Available-for-sale securities
(Note 9(c))
|
4.2 | 4.2 | 2.3 | 2.3 | -- | -- | ||||||||||||||||||
Capitalization
and liabilities:
|
||||||||||||||||||||||||
Long-term debt (including current
maturities) (Note 8(b))
|
2,506.0 | 2,675.5 | 1,158.7 | 1,238.1 | 1,031.6 | 1,125.9 | ||||||||||||||||||
Cumulative preferred stock of
subsidiaries (Note 7(b))
|
243.8 | 260.9 | 183.8 | 210.3 | 60.0 | 50.6 | ||||||||||||||||||
Derivative liabilities (Note
11(a))
|
119.3 | 119.3 | 53.0 | 53.0 | 66.3 | 66.3 | ||||||||||||||||||
Dec. 31,
2008
|
||||||||||||||||||||||||
Assets:
|
||||||||||||||||||||||||
Derivative assets (Note
11(a))
|
28.4 | 28.4 | 8.7 | 8.7 | 19.6 | 19.6 | ||||||||||||||||||
Available-for-sale securities (Note
9(c))
|
3.8 | 3.8 | 2.3 | 2.3 | -- | -- | ||||||||||||||||||
Capitalization and
liabilities:
|
||||||||||||||||||||||||
Long-term debt (including current
maturities) (Note 8(b))
|
1,884.7 | 2,107.0 | 995.2 | 991.8 | 782.9 | 861.7 | ||||||||||||||||||
Cumulative preferred stock of subsidiaries
(Note 7(b))
|
243.8 | 242.1 | 183.8 | 192.3 | 60.0 | 49.8 | ||||||||||||||||||
Derivative liabilities (Note
11(a))
|
103.0 | 103.0 | 88.2 | 88.2 | 14.8 | 14.8 |
Fair
Value
|
||||||||||||||||
Measurements
|
Level
1
|
Level
2
|
Level
3
|
|||||||||||||
Dec. 31,
2009
|
||||||||||||||||
Assets:
|
||||||||||||||||
Derivative assets
|
$ | 31.8 | $ | 0.1 | $ | 20.0 | $ | 11.7 | ||||||||
Available-for-sale
securities
|
4.2 | 2.3 | 1.8 | 0.1 | ||||||||||||
Liabilities:
|
||||||||||||||||
Derivative
liabilities
|
119.3 | -- | 113.3 | 6.0 | ||||||||||||
Dec. 31,
2008
|
||||||||||||||||
Assets:
|
||||||||||||||||
Derivative assets
|
28.4 | 0.1 | 2.6 | 25.7 | ||||||||||||
Available-for-sale
securities
|
3.8 | 3.8 | -- | -- | ||||||||||||
Liabilities:
|
||||||||||||||||
Derivative liabilities
|
103.0 | -- | 92.0 | 11.0 |
Derivative Assets
and
|
||||||||
Liabilities,
net
|
||||||||
2009
|
2008
|
|||||||
Beginning balance,
Jan. 1
|
$ | 14.7 | $ | 27.7 | ||||
Total gains or
(losses) (realized/unrealized) included in changes in net assets
(a)
|
(3.5 | ) | 19.3 | |||||
Purchases, sales,
issuances and settlements, net
|
(5.4 | ) | (32.3 | ) | ||||
Ending balance, Dec.
31
|
$ | 5.8 | $ | 14.7 | ||||
The
amount of total gains or (losses) for the period included in changes in
net
|
||||||||
assets attributable to the change in
unrealized gains or (losses) relating to assets
|
||||||||
and liabilities held at Dec. 31
(a)
|
$ | (3.5 | ) | $ | 14.7 |
(a)
|
Recorded in
“Regulatory assets” and “Regulatory liabilities” on Alliant Energy’s
Consolidated Balance Sheets.
|
Fair Value
at
|
||||||||||||||||||||
Dec. 31,
2009
|
Level
1
|
Level
2
|
Level
3
|
Total
Loss
|
||||||||||||||||
IPL’s steam plant in
service
|
$ | 2.0 | $ | -- | $ | -- | $ | 2.0 | $ | (4.0 | ) |
2010
|
2011
|
2012
|
2013
|
Total
|
|||||
Alliant
Energy
|
|||||||||
Commodity:
|
|||||||||
Electricity
(MWhs)
|
5,950
|
2,400
|
73
|
204
|
8,627
|
||||
FTRs
(MWs)
|
11
|
--
|
--
|
--
|
11
|
||||
Natural gas
(dekatherms (Dths))
|
61,861
|
19,135
|
6,798
|
--
|
87,794
|
||||
Oil
(gallons)
|
378
|
--
|
--
|
--
|
378
|
||||
Foreign exchange
(Euro dollars)
|
44,420
|
14,806
|
--
|
--
|
59,226
|
||||
IPL
|
|||||||||
Commodity:
|
|||||||||
Electricity
(MWhs)
|
2,824
|
580
|
--
|
--
|
3,404
|
||||
FTRs
(MWs)
|
6
|
--
|
--
|
--
|
6
|
||||
Natural gas
(Dths)
|
43,238
|
9,925
|
--
|
--
|
53,163
|
||||
Foreign exchange
(Euro dollars)
|
44,420
|
14,806
|
--
|
--
|
59,226
|
||||
WPL
|
|||||||||
Commodity:
|
|||||||||
Electricity
(MWhs)
|
3,126
|
1,820
|
73
|
204
|
5,223
|
||||
FTRs
(MWs)
|
5
|
--
|
--
|
--
|
5
|
||||
Natural gas
(Dths)
|
18,623
|
9,210
|
6,798
|
--
|
34,631
|
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Current derivative
assets
|
||||||||||||||||||||||||
Commodity contracts
|
$ | 20.4 | $ | 18.1 | $ | 9.1 | $ | 7.4 | $ | 11.2 | $ | 10.7 | ||||||||||||
Foreign exchange
contracts
|
3.4 | -- | 3.4 | -- | -- | -- | ||||||||||||||||||
$ | 23.8 | $ | 18.1 | $ | 12.5 | $ | 7.4 | $ | 11.2 | $ | 10.7 | |||||||||||||
Non-current
derivative assets
|
||||||||||||||||||||||||
Commodity contracts
|
$ | 6.8 | $ | 2.4 | $ | 2.7 | $ | 1.3 | $ | 4.1 | $ | 1.0 | ||||||||||||
Foreign exchange
contracts
|
1.2 | 7.9 | 1.2 | -- | -- | 7.9 | ||||||||||||||||||
$ | 8.0 | $ | 10.3 | $ | 3.9 | $ | 1.3 | $ | 4.1 | $ | 8.9 | |||||||||||||
Current derivative
liabilities
|
||||||||||||||||||||||||
Commodity contracts
|
$ | 99.0 | $ | 76.7 | $ | 49.5 | $ | 68.9 | $ | 49.5 | $ | 7.8 | ||||||||||||
Foreign exchange
contracts
|
1.5 | 1.9 | -- | 1.1 | 1.5 | 0.8 | ||||||||||||||||||
$ | 100.5 | $ | 78.6 | $ | 49.5 | $ | 70.0 | $ | 51.0 | $ | 8.6 | |||||||||||||
Non-current
derivative liabilities
|
||||||||||||||||||||||||
Commodity contracts
|
$ | 18.8 | $ | 22.8 | $ | 3.5 | $ | 18.2 | $ | 15.3 | $ | 4.6 | ||||||||||||
Foreign exchange
contracts
|
-- | 1.6 | -- | -- | -- | 1.6 | ||||||||||||||||||
$ | 18.8 | $ | 24.4 | $ | 3.5 | $ | 18.2 | $ | 15.3 | $ | 6.2 |
Location of Gain
(Loss) in Balance
|
Gain
(Loss)
|
||||||||||||
Sheet or Statement
of Income
|
Alliant
Energy
|
IPL
|
WPL
|
||||||||||
Commodity
contracts
|
Regulatory assets
(a)
|
$ | (137.6 | ) | $ | (69.5 | ) | $ | (68.1 | ) | |||
Regulatory
liabilities (a)
|
24.4 | 11.7 | 12.7 | ||||||||||
Non-regulated
operation and maintenance (b)
|
0.2 | -- | -- | ||||||||||
Foreign exchange
contracts
|
Regulatory
liabilities (a)
|
(3.3 | ) | (2.9 | ) | (0.4 | ) |
(a)
|
Balance
Sheet
|
(b)
|
Statement of
Income
|
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
||||||||||||||||||||||||||||
Gains
(losses):
|
||||||||||||||||||||||||||||||||||||
Electric utility operating
revenues
|
$ | (2.6 | ) | $ | 4.6 | $ | (4.5 | ) | $ | (1.8 | ) | $ | 4.0 | $ | (1.5 | ) | $ | (0.8 | ) | $ | 0.6 | $ | (3.0 | ) | ||||||||||||
Gas utility operating
revenues
|
(2.6 | ) | (4.6 | ) | (4.1 | ) | (1.4 | ) | (2.4 | ) | (2.2 | ) | (1.2 | ) | (2.2 | ) | (1.9 | ) | ||||||||||||||||||
Settlements (paid
to) / received from
|
||||||||||||||||||||||||||||||||||||
counterparties, net
|
(8.8 | ) | -- | (1.4 | ) | (5.4 | ) | 1.6 | 0.7 | (3.4 | ) | (1.6 | ) | (2.1 | ) | |||||||||||||||||||||
Premiums
expensed
|
-- | 0.1 | 1.4 | -- | 0.1 | 0.9 | -- | -- | 0.5 | |||||||||||||||||||||||||||
Premiums paid to
counterparties
|
-- | 0.1 | 1.4 | -- | 0.1 | 0.9 | -- | -- | 0.5 |
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
||||||||||||||||||||||
WPL
|
$ | 174 | $ | -- | $ | -- | $ | -- | $ | -- | $ | -- | $ | 174 | ||||||||||||||
IPL
|
91 | 39 | -- | -- | -- | -- | 130 | |||||||||||||||||||||
Alliant Energy
|
$ | 265 | $ | 39 | $ | -- | $ | -- | $ | -- | $ | -- | $ | 304 |
Alliant
Energy:
|
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
|||||||||||||||||||||
Purchased power
(a):
|
||||||||||||||||||||||||||||
DAEC (IPL)
|
$ | 168 | $ | 176 | $ | 180 | $ | 200 | $ | 34 | $ | -- | $ | 758 | ||||||||||||||
Kewaunee Nuclear Power
Plant
|
||||||||||||||||||||||||||||
(Kewaunee) (WPL)
|
83 | 62 | 73 | 79 | -- | -- | 297 | |||||||||||||||||||||
Other
|
79 | 30 | 2 | -- | -- | -- | 111 | |||||||||||||||||||||
330 | 268 | 255 | 279 | 34 | -- | 1,166 | ||||||||||||||||||||||
Natural
gas
|
168 | 66 | 45 | 29 | 19 | 45 | 372 | |||||||||||||||||||||
Coal
(b)
|
152 | 132 | 41 | 16 | 13 | -- | 354 | |||||||||||||||||||||
Emission allowances
(c)
|
9 | 1 | -- | -- | -- | 34 | 44 | |||||||||||||||||||||
Other
(d)
|
16 | 15 | 15 | 7 | -- | -- | 53 | |||||||||||||||||||||
$ | 675 | $ | 482 | $ | 356 | $ | 331 | $ | 66 | $ | 79 | $ | 1,989 | |||||||||||||||
IPL:
|
||||||||||||||||||||||||||||
Purchased power
(a):
|
||||||||||||||||||||||||||||
DAEC
|
$ | 168 | $ | 176 | $ | 180 | $ | 200 | $ | 34 | $ | -- | $ | 758 | ||||||||||||||
Other
|
11 | 13 | -- | -- | -- | -- | 24 | |||||||||||||||||||||
179 | 189 | 180 | 200 | 34 | -- | 782 | ||||||||||||||||||||||
Natural
gas
|
78 | 31 | 23 | 9 | 2 | 11 | 154 | |||||||||||||||||||||
Coal
(b)
|
38 | 30 | 27 | 9 | 6 | -- | 110 | |||||||||||||||||||||
Emission allowances
(c)
|
9 | 1 | -- | -- | -- | 34 | 44 | |||||||||||||||||||||
Other
(d)
|
9 | 7 | 7 | -- | -- | -- | 23 | |||||||||||||||||||||
$ | 313 | $ | 258 | $ | 237 | $ | 218 | $ | 42 | $ | 45 | $ | 1,113 | |||||||||||||||
WPL:
|
||||||||||||||||||||||||||||
Purchased power
(a):
|
||||||||||||||||||||||||||||
Kewaunee
|
$ | 83 | $ | 62 | $ | 73 | $ | 79 | $ | -- | $ | -- | $ | 297 | ||||||||||||||
Other
|
68 | 17 | 2 | -- | -- | -- | 87 | |||||||||||||||||||||
151 | 79 | 75 | 79 | -- | -- | 384 | ||||||||||||||||||||||
Natural
gas
|
90 | 35 | 22 | 20 | 17 | 34 | 218 | |||||||||||||||||||||
Coal
(b)
|
11 | 7 | 7 | 7 | 7 | -- | 39 | |||||||||||||||||||||
Other
(d)
|
3 | 8 | 8 | 7 | -- | -- | 26 | |||||||||||||||||||||
$ | 255 | $ | 129 | $ | 112 | $ | 113 | $ | 24 | $ | 34 | $ | 667 |
(a)
|
Includes payments
required by PPAs for capacity rights and minimum quantities of MWh
required to be purchased. Refer to Note 20 for additional
information on purchased power
transactions.
|
(b)
|
IPL and WPL enter
into coal transportation contracts that are directly assigned to their
specific generating stations, the amounts of which are included in Alliant
Energy’s, IPL’s and WPL’s tables above. Also included in
Alliant Energy’s and IPL’s tables are IPL’s respective portion of coal and
coal transportation contracts related to jointly-owned generating stations
not operated by IPL. In addition, Corporate Services entered
into system-wide coal contracts on behalf of IPL and WPL of $103 million,
$95 million and $7 million for 2010 to 2012, respectively, to allow
flexibility for the changing needs of the quantity of coal consumed by
each. Coal contract quantities are allocated to specific IPL or
WPL generating stations at or before the time of delivery based on various
factors including projected heat input requirements, combustion
compatibility and efficiency. These system-wide coal contracts
have not been directly assigned to IPL and WPL since the specific needs of
each utility are not yet known and therefore are excluded from IPL’s and
WPL’s tables.
|
(c)
|
IPL has entered into
forward contracts to purchase SO2 emission allowances with vintage years
of 2014 through 2017 and NOx emission allowances with vintage years of
2009 through 2011 from various counterparties for $34 million and $10
million, respectively. IPL may utilize any SO2 emission
allowances acquired under these forward contracts to meet requirements
under the Acid Rain Program regulations or the more stringent Clean Air
Interstate Rule (CAIR) emission reduction standards. IPL
entered into the forward contracts to purchase NOx emission allowances
solely for the purpose of compliance with the CAIR emission reduction
standards. IPL is currently monitoring the status of the
forward contracts to purchase SO2 and NOx emission allowances in light of
various court rulings in 2008 and anticipated EPA proceedings regarding
changes to CAIR. Alliant Energy and IPL do not currently
believe any losses from these forward contracts are probable and therefore
have not recognized any loss contingency amounts related to the forward
contracts as of Dec. 31, 2009. Alliant Energy and IPL are
currently unable to predict the ultimate impact these forward contracts
will have on their financial condition or results of
operations.
|
(d)
|
Includes individual
commitments incurred during the normal course of business that exceeded $1
million at Dec. 31, 2009.
|
Businesses/Assets
Sold
|
Disposal
Date
|
Maximum
Limit
|
Expiration
Date
|
||||
Brazil
|
First quarter of
2006
|
$ | 10 |
January
2011
|
|||
New
Zealand
|
Fourth quarter of
2006
|
152 | (a) |
March
2012
|
|||
Mexico
|
Second quarter of
2007
|
20 |
June
2012
|
(a)
|
Based on exchange
rates at Dec. 31, 2009
|
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Current
environmental liabilities
|
$ | 7.3 | $ | 7.4 | $ | 6.8 | $ | 6.7 | $ | 0.5 | $ | 0.7 | ||||||||||||
Non-current
environmental liabilities
|
27.5 | 28.2 | 23.4 | 23.0 | 4.0 | 5.2 | ||||||||||||||||||
$ | 34.8 | $ | 35.6 | $ | 30.2 | $ | 29.7 | $ | 4.5 | $ | 5.9 |
Cost
of
|
|||||||||||||||||||||||||
Removal
|
|||||||||||||||||||||||||
Obligations
|
|||||||||||||||||||||||||
Accumulated
|
Construction
|
Included
in
|
|||||||||||||||||||||||
In-service
|
Fuel
|
Ownership
|
Plant
in
|
Provision
for
|
Work
in
|
Regulatory
|
|||||||||||||||||||
Dates
|
Type
|
Interest
%
|
Service
|
Depreciation
|
Progress
|
Liabilities
|
|||||||||||||||||||
IPL
|
|||||||||||||||||||||||||
Ottumwa
|
1981
|
Coal
|
48.0 | $ | 226.4 | $ | 103.4 | $ | 0.4 | $ | 13.4 | ||||||||||||||
Neal Unit
4
|
1979
|
Coal
|
25.7 | 96.7 | 61.4 | 0.3 | 10.4 | ||||||||||||||||||
Neal Unit
3
|
1975
|
Coal
|
28.0 | 58.9 | 36.1 | 0.1 | 4.9 | ||||||||||||||||||
Louisa Unit
1
|
1983
|
Coal
|
4.0 | 35.3 | 18.0 | 0.1 | 2.7 | ||||||||||||||||||
417.3 | 218.9 | 0.9 | 31.4 | ||||||||||||||||||||||
WPL
|
|||||||||||||||||||||||||
Edgewater Unit 5
(a)
|
1985
|
Coal
|
75.0 | 256.6 | 144.5 | 0.2 | 11.7 | ||||||||||||||||||
Columbia
|
1975-1978 |
Coal
|
46.2 | 238.8 | 144.2 | 2.8 | 9.3 | ||||||||||||||||||
Edgewater Unit
4
|
1969 |
Coal
|
68.2 | 84.4 | 43.3 | 0.6 | 2.6 | ||||||||||||||||||
579.8 | 332.0 | 3.6 | 23.6 | ||||||||||||||||||||||
$ | 997.1 | $ | 550.9 | $ | 4.5 | $ | 55.0 |
(a)
|
Refer to Note 12(i)
for discussion of WPL’s contingent agreement to purchase the remaining 25%
ownership interest in Edgewater Unit 5 from
WEPCO.
|
·
|
Utility
business - includes the operations of IPL and WPL, which serve
customers in Iowa, Wisconsin and Minnesota. The utility
business has three segments: a) electric operations; b) gas operations;
and c) other, which includes steam operations, various other
energy-related products and services and the unallocated portions of the
utility business. Various line items in the following tables
are not allocated to the electric and gas segments for management
reporting purposes and therefore are included in “Total Utility
Business.” Also included for 2007 are operations of Alliant
Energy’s utility operations in Illinois and IPL’s electric transmission
assets sold in 2007. Refer to Notes 17 and 22 for additional
information on these sales.
|
·
|
Non-regulated
businesses - includes the operations of Resources and its
subsidiaries. The non-regulated businesses have two segments:
a) RMT; and b) other, which includes the operations of the Non-regulated
Generation business, Transportation business and other non-regulated
investments described in Note 1(a); the operations of Resources (the
non-regulated parent company); and any Resources consolidating
adjustments.
|
·
|
Other
- includes the operations of Alliant Energy (the parent company)
and Corporate Services, as well as any Alliant Energy parent company
consolidating adjustments.
|
Alliant
|
||||||||||||||||||||||||||||||||||||
Utility
Business
|
Non-regulated
Businesses
|
Energy
|
||||||||||||||||||||||||||||||||||
Electric
|
Gas
|
Other
|
Total
|
RMT
|
Other
|
Total
|
Other
|
Consolidated
|
||||||||||||||||||||||||||||
2009
|
||||||||||||||||||||||||||||||||||||
Operating
revenues
|
$ | 2,475.9 | $ | 525.3 | $ | 92.9 | $ | 3,094.1 | $ | 294.1 | $ | 49.7 | $ | 343.8 | $ | (5.1 | ) | $ | 3,432.8 | |||||||||||||||||
Depreciation
and amortization
|
233.5 | 25.8 | 8.9 | 268.2 | 2.4 | 7.3 | 9.7 | (2.3 | ) | 275.6 | ||||||||||||||||||||||||||
Operating
income (loss)
|
342.2 | 52.3 | (5.8 | ) | 388.7 | (4.9 | ) | 16.0 | 11.1 | (2.6 | ) | 397.2 | ||||||||||||||||||||||||
Interest
expense, net of AFUDC
|
111.6 | 0.2 | 3.4 | 3.6 | -- | 115.2 | ||||||||||||||||||||||||||||||
Loss
on early extinguishment of debt
|
-- | -- | -- | -- | 203.0 | 203.0 | ||||||||||||||||||||||||||||||
Equity
(income) loss from
|
||||||||||||||||||||||||||||||||||||
unconsolidated investments,
net
|
(37.0 | ) | -- | -- | (37.0 | ) | -- | 0.4 | 0.4 | -- | (36.6 | ) | ||||||||||||||||||||||||
Interest
income and other
|
(1.2 | ) | (1.1 | ) | (15.2 | ) | (16.3 | ) | 12.9 | (4.6 | ) | |||||||||||||||||||||||||
Income
tax expense (benefit)
|
72.8 | (2.5 | ) | 15.4 | 12.9 | (94.9 | ) | (9.2 | ) | |||||||||||||||||||||||||||
Income
(loss) from continuing
|
||||||||||||||||||||||||||||||||||||
operations, net of
tax
|
242.5 | (1.5 | ) | 12.0 | 10.5 | (123.6 | ) | 129.4 | ||||||||||||||||||||||||||||
Income
from discontinued operations,
|
||||||||||||||||||||||||||||||||||||
net of tax
|
-- | -- | 0.3 | 0.3 | -- | 0.3 | ||||||||||||||||||||||||||||||
Net
income (loss)
|
242.5 | (1.5 | ) | 12.3 | 10.8 | (123.6 | ) | 129.7 | ||||||||||||||||||||||||||||
Preferred
dividends
|
18.7 | -- | -- | -- | -- | 18.7 | ||||||||||||||||||||||||||||||
Net
income (loss) attributable to Alliant
|
||||||||||||||||||||||||||||||||||||
Energy common
shareowners
|
223.8 | (1.5 | ) | 12.3 | 10.8 | (123.6 | ) | 111.0 | ||||||||||||||||||||||||||||
Total
assets
|
6,867.6 | 803.1 | 902.9 | 8,573.6 | 63.6 | 360.9 | 424.5 | 37.9 | 9,036.0 | |||||||||||||||||||||||||||
Investments
in equity method
|
||||||||||||||||||||||||||||||||||||
subsidiaries
|
227.1 | -- | -- | 227.1 | -- | 2.1 | 2.1 | -- | 229.2 | |||||||||||||||||||||||||||
Construction
and acquisition
|
||||||||||||||||||||||||||||||||||||
expenditures
|
1,191.8 | 45.2 | 5.0 | 1,242.0 | 8.2 | 15.8 | 24.0 | (63.4 | ) | 1,202.6 |
Alliant
|
||||||||||||||||||||||||||||||||||||
Utility
Business
|
Non-regulated
Businesses
|
Energy
|
||||||||||||||||||||||||||||||||||
Electric
|
Gas
|
Other
|
Total
|
RMT
|
Other
|
Total
|
Other
|
Consolidated
|
||||||||||||||||||||||||||||
2008
|
||||||||||||||||||||||||||||||||||||
Operating
revenues
|
$ | 2,411.3 | $ | 710.4 | $ | 102.1 | $ | 3,223.8 | $ | 396.8 | $ | 66.8 | $ | 463.6 | $ | (5.7 | ) | $ | 3,681.7 | |||||||||||||||||
Depreciation and
amortization
|
204.8 | 25.1 | 3.1 | 233.0 | 1.5 | 9.7 | 11.2 | (2.3 | ) | 241.9 | ||||||||||||||||||||||||||
Operating income
(loss)
|
386.3 | 61.5 | (3.2 | ) | 444.6 | 20.7 | 20.8 | 41.5 | 2.5 | 488.6 | ||||||||||||||||||||||||||
Interest expense,
net of AFUDC
|
99.4 | -- | 13.1 | 13.1 | (11.4 | ) | 101.1 | |||||||||||||||||||||||||||||
Equity (income) loss
from
|
||||||||||||||||||||||||||||||||||||
unconsolidated investments,
net
|
(33.9 | ) | -- | -- | (33.9 | ) | -- | 0.7 | 0.7 | -- | (33.2 | ) | ||||||||||||||||||||||||
Interest income and
other
|
(1.9 | ) | (1.8 | ) | (16.9 | ) | (18.7 | ) | 2.4 | (18.2 | ) | |||||||||||||||||||||||||
Income
taxes
|
121.0 | 8.9 | 8.2 | 17.1 | 2.1 | 140.2 | ||||||||||||||||||||||||||||||
Income from
continuing operations,
|
||||||||||||||||||||||||||||||||||||
net of tax
|
260.0 | 13.6 | 15.7 | 29.3 | 9.4 | 298.7 | ||||||||||||||||||||||||||||||
Income from
discontinued operations,
|
||||||||||||||||||||||||||||||||||||
net of tax
|
-- | -- | 8.0 | 8.0 | -- | 8.0 | ||||||||||||||||||||||||||||||
Net
income
|
260.0 | 13.6 | 23.7 | 37.3 | 9.4 | 306.7 | ||||||||||||||||||||||||||||||
Preferred
dividends
|
18.7 | -- | -- | -- | -- | 18.7 | ||||||||||||||||||||||||||||||
Net
income attributable to Alliant
|
||||||||||||||||||||||||||||||||||||
Energy common
shareowners
|
241.3 | 13.6 | 23.7 | 37.3 | 9.4 | 288.0 | ||||||||||||||||||||||||||||||
Total
assets
|
5,724.6 | 850.5 | 901.3 | 7,476.4 | 110.6 | 416.9 | 527.5 | 197.6 | 8,201.5 | |||||||||||||||||||||||||||
Investments in
equity method subsidiaries
|
203.6 | -- | -- | 203.6 | -- | 2.3 | 2.3 | -- | 205.9 | |||||||||||||||||||||||||||
Construction and
acquisition expenditures
|
775.1 | 39.8 | 27.5 | 842.4 | 2.5 | 14.8 | 17.3 | 19.3 | 879.0 |
Alliant
|
||||||||||||||||||||||||||||||||||||
Utility
Business
|
Non-regulated
Businesses
|
Energy
|
||||||||||||||||||||||||||||||||||
Electric
|
Gas
|
Other
|
Total
|
RMT
|
Other
|
Total
|
Other
|
Consolidated
|
||||||||||||||||||||||||||||
2007
|
||||||||||||||||||||||||||||||||||||
Operating
revenues
|
$ | 2,410.8 | $ | 630.2 | $ | 71.7 | $ | 3,112.7 | $ | 262.9 | $ | 67.6 | $ | 330.5 | $ | (5.6 | ) | $ | 3,437.6 | |||||||||||||||||
Depreciation and
amortization
|
224.6 | 26.4 | 2.0 | 253.0 | 1.2 | 10.8 | 12.0 | (2.3 | ) | 262.7 | ||||||||||||||||||||||||||
Gain on sale of
IPL’s electric
|
||||||||||||||||||||||||||||||||||||
transmission assets
|
218.8 | -- | -- | 218.8 | -- | -- | -- | -- | 218.8 | |||||||||||||||||||||||||||
Operating income
(loss)
|
669.9 | 59.9 | (4.0 | ) | 725.8 | 14.8 | 21.8 | 36.6 | 0.7 | 763.1 | ||||||||||||||||||||||||||
Interest expense,
net of AFUDC
|
106.1 | -- | 16.8 | 16.8 | (14.0 | ) | 108.9 | |||||||||||||||||||||||||||||
Equity income from
unconsolidated
|
||||||||||||||||||||||||||||||||||||
investments, net
|
(28.4 | ) | -- | -- | (28.4 | ) | -- | (0.9 | ) | (0.9 | ) | -- | (29.3 | ) | ||||||||||||||||||||||
Interest income and
other
|
(1.8 | ) | (1.0 | ) | (21.0 | ) | (22.0 | ) | 8.1 | (15.7 | ) | |||||||||||||||||||||||||
Income
taxes
|
246.1 | 6.4 | 1.6 | 8.0 | 1.7 | 255.8 | ||||||||||||||||||||||||||||||
Income from
continuing operations,
|
||||||||||||||||||||||||||||||||||||
net of tax
|
403.8 | 9.4 | 25.3 | 34.7 | 4.9 | 443.4 | ||||||||||||||||||||||||||||||
Income from
discontinued operations,
|
||||||||||||||||||||||||||||||||||||
net of tax
|
-- | -- | 0.6 | 0.6 | -- | 0.6 | ||||||||||||||||||||||||||||||
Net
income
|
403.8 | 9.4 | 25.9 | 35.3 | 4.9 | 444.0 | ||||||||||||||||||||||||||||||
Preferred
dividends
|
18.7 | -- | -- | -- | -- | 18.7 | ||||||||||||||||||||||||||||||
Net
income attributable to Alliant
|
||||||||||||||||||||||||||||||||||||
Energy common
shareowners
|
385.1 | 9.4 | 25.9 | 35.3 | 4.9 | 425.3 | ||||||||||||||||||||||||||||||
Total
assets
|
4,861.8 | 740.1 | 548.7 | 6,150.6 | 108.9 | 416.3 | 525.2 | 513.9 | 7,189.7 | |||||||||||||||||||||||||||
Investments in
equity method subsidiaries
|
182.0 | -- | -- | 182.0 | -- | 3.9 | 3.9 | -- | 185.9 | |||||||||||||||||||||||||||
Construction and
acquisition expenditures
|
476.0 | 40.2 | 2.3 | 518.5 | 2.2 | 7.6 | 9.8 | 13.7 | 542.0 |
2009
|
2008
|
2007
|
|||
Utility -
electric
|
72%
|
65%
|
70%
|
||
Utility -
gas
|
15%
|
19%
|
18%
|
||
Non-regulated -
RMT
|
9%
|
11%
|
8%
|
||
Other
|
4%
|
5%
|
4%
|
||
100%
|
100%
|
100%
|
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Gross carrying
amount
|
$ | 68.0 | $ | 65.1 | $ | 59.0 | $ | 57.9 | $ | 9.0 | $ | 7.2 | ||||||||||||
Accumulated
amortization
|
16.7 | 0.8 | 11.8 | 0.8 | 4.9 | -- |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
||||||||||||||||||||||||||||
Amortization
expense
|
$ | 16.7 | $ | -- | $ | -- | $ | 11.8 | $ | -- | $ | -- | $ | 4.9 | $ | -- | $ | -- |
2010
|
2011
|
2012
|
2013
|
2014
|
||||||||||||||||
IPL
|
$ | 12.6 | $ | 13.9 | $ | 9.3 | $ | 8.0 | $ | 3.4 | ||||||||||
WPL
|
3.6 | 0.4 | 0.1 | -- | -- | |||||||||||||||
Alliant Energy
|
$ | 16.2 | $ | 14.3 | $ | 9.4 | $ | 8.0 | $ | 3.4 |
2009 | 2008 | |||||||||||||||||||||||||||
March
31
|
June
30
|
Sep.
30
|
Dec.
31
|
March
31
|
June
30
|
Sep. 30 |
Dec.
31
|
|
||||||||||||||||||||
(in millions, except
per share data)
|
||||||||||||||||||||||||||||
Operating
revenues
|
$ | 949.9 | $ | 742.3 | $ | 885.7 | $ | 854.9 | $ | 992.0 | $ | 827.4 | $ | 980.3 | $ | 882.0 | ||||||||||||
Operating
income
|
73.7 | 62.8 | 159.9 | 100.8 | 125.1 | 82.0 | 190.5 | 91.0 | ||||||||||||||||||||
Amounts attributable
to Alliant Energy
|
||||||||||||||||||||||||||||
common shareowners:
|
||||||||||||||||||||||||||||
Income (loss) from
continuing operations, net of tax (a)
|
72.6 | 29.1 | (43.3 | ) | 52.3 | 68.1 | 51.8 | 109.1 | 51.0 | |||||||||||||||||||
Income (loss) from
discontinued operations, net of tax
|
||||||||||||||||||||||||||||
(Refer to Note 17)
|
-- | -- | (1.0 | ) | 1.3 | -- | 9.0 | (0.6 | ) | (0.4) | ||||||||||||||||||
Net
income (loss) (a)
|
72.6 | 29.1 | (44.3 | ) | 53.6 | 68.1 | 60.8 | 108.5 | 50.6 | |||||||||||||||||||
Earnings per
weighted average common share
|
||||||||||||||||||||||||||||
attributable to Alliant Energy common
shareowners:
|
||||||||||||||||||||||||||||
Income (loss) from continuing
operations,
|
||||||||||||||||||||||||||||
net of tax (a)
|
0.66 | 0.26 | (0.39 | ) | 0.48 | 0.62 | 0.47 | 0.99 | 0.46 | |||||||||||||||||||
Income (loss) from discontinued
operations, net of tax
|
-- | -- | (0.01 | ) | 0.01 | -- | 0.08 | (0.01 | ) | -- | ||||||||||||||||||
Net income (loss) (a)
|
0.66 | 0.26 | (0.40 | ) | 0.49 | 0.62 | 0.55 | 0.98 | 0.46 |
(a)
|
In the third quarter
of 2009, Alliant Energy recorded an after-tax loss of $128 million, or
$1.16 per share, related to a loss on the early extinguishment of its
Exchangeable Senior Notes due 2030.
|
Business/Asset
|
Disposal
Date
|
Segment
|
||
Non-regulated
business - Mexico
|
Second quarter of
2007
|
Non-regulated -
Other
|
||
Utility
assets:
|
||||
WPL’s electric and gas utility assets
in Illinois (a)
|
First quarter of
2007
|
Utility - Electric
and Gas
|
||
IPL’s electric and gas utility assets
in Illinois (b)
|
First quarter of
2007
|
Utility - Electric
and Gas
|
||
IPL’s electric transmission assets
(Note 22)
|
Fourth quarter of
2007
|
Utility -
Electric
|
(a)
|
Upon completion of
this sale, WPL received net proceeds of $24
million.
|
(b)
|
Upon completion of
this sale, IPL received net proceeds of $28
million.
|
2009
|
2008
|
2007
|
||||||||||
Operating expenses
(excluding losses)
|
$ | -- | $ | 0.3 | $ | 3.4 | ||||||
(Gains) losses,
net:
|
||||||||||||
Mexico business (a)
|
-- | -- | (10.7 | ) | ||||||||
Other
|
-- | -- | 1.5 | |||||||||
Interest expense and
other
|
-- | -- | 1.6 | |||||||||
Income (loss) before
income taxes
|
-- | (0.3 | ) | 4.2 | ||||||||
Income tax expense
(benefit) (b)(c)
|
(0.3 | ) | (8.3 | ) | 3.6 | |||||||
Income from
discontinued operations, net of tax
|
$ | 0.3 | $ | 8.0 | $ | 0.6 |
(a)
|
In 2007, Alliant
Energy received net proceeds of $66 million and recorded a $10.7 million
pre-tax gain related to the sale of its Mexico business. The
increase in the fair value during 2007 that was realized upon sale of the
Mexico business was largely due to the resolution of uncertainties
regarding completion of the pending
sale.
|
(b)
|
In 2008, Alliant
Energy reached a settlement with the IRS related to the audit of its U.S.
federal income tax returns for calendar years 2002 through
2004. As a result of completing the audit and recording known
adjustments for the tax returns for calendar years 2005 and 2007, Alliant
Energy recorded decreases in its liabilities for uncertain tax positions
and related interest, net of tax, and changes to its provision for income
taxes including the impact of $8 million of income tax benefits allocated
to its discontinued operations in 2008 largely related to its former
Australia and China businesses.
|
(c)
|
In 2007, Alliant
Energy reached a settlement with the IRS related to the audit of its U.S.
federal income tax returns for calendar years 1999 through 2001,
reassessed the most likely outcome of its 2002 through 2005 federal and
state income tax audits and completed the filing of its U.S. federal
income tax return for the calendar year 2006. In addition,
Alliant Energy reversed deferred tax asset valuation allowances originally
recorded in prior years related to a change in Alliant Energy’s
anticipated ability to utilize certain capital losses prior to the
expiration period. As a result of these events, Alliant Energy
recorded changes to its provision for income taxes including the impact of
$1.3 million of income tax expense allocated to its discontinued
operations in 2007 related to its former Australia, Energy Services and
China businesses.
|
2009
|
2008
|
2007
|
||||||||||
Net
cash flows used for operating activities
|
$ | -- | $ | -- | $ | (11.7 | ) | |||||
Proceeds from the
disposition of assets
|
-- | -- | 66.1 | |||||||||
Net
cash flows from other investing activities
|
-- | -- | 0.1 | |||||||||
Net
cash flows from investing activities
|
-- | -- | 66.2 | |||||||||
Net
cash flows from financing activities
|
-- | -- | 10.8 |
Alliant
Energy
|
IPL
|
WPL
|
||||||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Balance at Jan.
1
|
$ | 48.4 | $ | 42.8 | $ | 30.5 | $ | 30.9 | $ | 17.9 | $ | 11.9 | ||||||||||||
Liabilities incurred
(a)(b)
|
11.6 | 7.8 | 11.6 | 3.2 | -- | 4.6 | ||||||||||||||||||
Accretion
expense
|
2.8 | 2.2 | 1.7 | 1.5 | 1.1 | 0.7 | ||||||||||||||||||
Revisions in
estimated cash flows (a)(c)
|
2.7 | 7.8 | -- | 6.7 | 2.7 | 1.1 | ||||||||||||||||||
Liabilities settled
(a)
|
(2.2 | ) | (12.2 | ) | (1.9 | ) | (11.8 | ) | (0.3 | ) | (0.4 | ) | ||||||||||||
Balance at Dec.
31
|
$ | 63.3 | $ | 48.4 | $ | 41.9 | $ | 30.5 | $ | 21.4 | $ | 17.9 |
(a)
|
In 2009, IPL
recorded liabilities settled of $1.2 million due to expenditures for
asbestos and lead remediation at its Sixth Street and Prairie Creek
Generating Stations required as a result of the impacts of the severe
Midwest flooding at these generating stations in June 2008. In
2008, IPL recorded changes to liabilities incurred of $3.2 million,
revisions in estimated cash flows of $6.7 million and liabilities settled
of $10.6 million due to asbestos and lead remediation as a result of the
impacts of the severe Midwest flooding at these generating stations in
June 2008.
|
(b)
|
In 2009, IPL
recorded AROs of $11.6 million related to its Whispering Willow - East
wind project. In 2008, WPL recorded AROs of $4.6 million
related to its Cedar Ridge wind
project.
|
(c)
|
In 2009, WPL
recorded revisions in estimated cash flows of $2.7 million based on
revised remediation timing and cost information for its Columbia landfill
ARO.
|
IPL
|
WPL
|
|||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||
Sales
credited
|
$ | 54 | $ | 43 | $ | 73 | $ | 72 | $ | 22 | $ | 16 | ||||||||||||
Purchases
billed
|
270 | 334 | 237 | 121 | 371 | 449 |
IPL
|
WPL
|
|||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||
Corporate Services
billings
|
$ | 153 | $ | 193 | $ | 186 | $ | 112 | $ | 120 | $ | 135 |
IPL
|
WPL
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Net
intercompany payables to Corporate Services
|
$ | 90 | $ | 95 | $ | 45 | $ | 68 |
2009
|
2008
|
2007
|
||||||||||
ATC
billings to WPL
|
$ | 83 | $ | 82 | $ | 72 | ||||||
WPL
billings to ATC
|
13 | 9 | 9 | |||||||||
ATC
billings to IPL
|
-- | -- | 3 |
Weighted average
common shares outstanding:
|
2009
|
2008
|
2007
|
|||
Basic EPS
calculation
|
110,268
|
110,170
|
112,284
|
|||
Effect of dilutive
share-based awards
|
84
|
138
|
237
|
|||
Diluted EPS
calculation
|
110,352
|
110,308
|
112,521
|
2009
|
2008
|
2007
|
||||||||||
Options to purchase
shares of common stock
|
313,237 | 41,939 | -- | |||||||||
Weighted average
exercise price of options excluded
|
$ | 29.26 | $ | 30.98 | $ | -- |
CONSOLIDATED
STATEMENTS OF INCOME
|
||||||||||||
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Operating
revenues:
|
||||||||||||
Electric
utility
|
$ | 1,315.6 | $ | 1,258.3 | $ | 1,270.1 | ||||||
Gas
utility
|
308.8 | 410.4 | 364.5 | |||||||||
Steam
and other
|
83.6 | 89.3 | 61.3 | |||||||||
1,708.0 | 1,758.0 | 1,695.9 | ||||||||||
Operating
expenses:
|
||||||||||||
Electric
production fuel and energy purchases
|
440.1 | 408.9 | 405.3 | |||||||||
Purchased
electric capacity
|
136.5 | 140.6 | 132.3 | |||||||||
Electric
transmission service
|
131.2 | 89.0 | 11.8 | |||||||||
Cost of
gas sold
|
209.8 | 306.0 | 266.1 | |||||||||
Other
operation and maintenance
|
365.4 | 388.1 | 359.2 | |||||||||
Depreciation
and amortization
|
152.8 | 131.3 | 143.1 | |||||||||
Taxes
other than income taxes
|
50.5 | 54.4 | 61.8 | |||||||||
1,486.3 | 1,518.3 | 1,379.6 | ||||||||||
Gain
on sale of IPL's electric transmission assets
|
- | - | 218.8 | |||||||||
Operating
income
|
221.7 | 239.7 | 535.1 | |||||||||
Interest
expense and other:
|
||||||||||||
Interest
expense
|
76.5 | 61.9 | 64.3 | |||||||||
Allowance
for funds used during construction
|
(34.0 | ) | (15.1 | ) | (5.2 | ) | ||||||
Interest
income
|
(0.8 | ) | (1.3 | ) | (1.1 | ) | ||||||
41.7 | 45.5 | 58.0 | ||||||||||
Income
before income taxes
|
180.0 | 194.2 | 477.1 | |||||||||
Income
taxes
|
27.0 | 52.6 | 186.8 | |||||||||
Net
income
|
153.0 | 141.6 | 290.3 | |||||||||
Preferred
dividend requirements
|
15.4 | 15.4 | 15.4 | |||||||||
Earnings
available for common stock
|
$ | 137.6 | $ | 126.2 | $ | 274.9 | ||||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
CONSOLIDATED
BALANCE SHEETS
|
||||||||
December
31,
|
||||||||
ASSETS
|
2009
|
2008
|
||||||
(in
millions)
|
||||||||
Property,
plant and equipment:
|
||||||||
Electric
plant in service
|
$ | 4,311.2 | $ | 3,518.5 | ||||
Gas
plant in service
|
404.3 | 391.5 | ||||||
Steam
plant in service
|
50.4 | 54.2 | ||||||
Other
plant in service
|
251.8 | 228.7 | ||||||
Accumulated
depreciation
|
(1,723.7 | ) | (1,600.3 | ) | ||||
Net
plant
|
3,294.0 | 2,592.6 | ||||||
Construction
work in progress:
|
||||||||
Whispering
Willow - East wind project
|
- | 189.4 | ||||||
Other
|
199.1 | 205.8 | ||||||
Other,
less accumulated depreciation of $4.2 and $4.4
|
46.3 | 18.6 | ||||||
3,539.4 | 3,006.4 | |||||||
Current
assets:
|
||||||||
Cash and
cash equivalents
|
0.4 | 6.2 | ||||||
Accounts
receivable:
|
||||||||
Customer,
less allowance for doubtful accounts of $2.3 and $4.0
|
123.3 | 107.1 | ||||||
Unbilled
utility revenues
|
82.3 | 93.7 | ||||||
Other,
less allowance for doubtful accounts of $0.2 for both
periods
|
39.3 | 60.0 | ||||||
Income
tax refunds receivable
|
103.4 | 48.6 | ||||||
Production
fuel, at weighted average cost
|
101.1 | 70.0 | ||||||
Materials
and supplies, at weighted average cost
|
29.1 | 30.4 | ||||||
Gas
stored underground, at weighted average cost
|
17.4 | 27.1 | ||||||
Regulatory
assets
|
75.8 | 79.8 | ||||||
Derivative
assets
|
12.5 | 7.4 | ||||||
Other
|
14.2 | 30.7 | ||||||
598.8 | 561.0 | |||||||
Investments
|
15.6 | 15.2 | ||||||
Other
assets:
|
||||||||
Regulatory
assets
|
668.0 | 554.5 | ||||||
Deferred
charges and other
|
70.4 | 73.8 | ||||||
738.4 | 628.3 | |||||||
Total
assets
|
$ | 4,892.2 | $ | 4,210.9 | ||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
INTERSTATE
POWER AND LIGHT COMPANY
|
||||||||
CONSOLIDATED
BALANCE SHEETS (Continued)
|
||||||||
December
31,
|
||||||||
CAPITALIZATION
AND LIABILITIES
|
2009
|
2008
|
||||||
(in millions, except
per
|
||||||||
share and share
amounts)
|
||||||||
Capitalization:
|
||||||||
Interstate
Power and Light Company common equity:
|
||||||||
Common stock - $2.50
par value - 24,000,000 shares authorized;
|
||||||||
13,370,788
shares outstanding
|
$ | 33.4 | $ | 33.4 | ||||
Additional
paid-in capital
|
1,042.2 | 998.1 | ||||||
Retained
earnings
|
254.4 | 116.8 | ||||||
Total
Interstate Power and Light Company common equity
|
1,330.0 | 1,148.3 | ||||||
Cumulative
preferred stock
|
183.8 | 183.8 | ||||||
Total
equity
|
1,513.8 | 1,332.1 | ||||||
Long-term
debt, net (excluding current portion)
|
1,158.7 | 860.2 | ||||||
2,672.5 | 2,192.3 | |||||||
Current
liabilities:
|
||||||||
Current
maturities of long-term debt
|
- | 135.0 | ||||||
Commercial
paper
|
190.0 | 42.4 | ||||||
Accounts
payable
|
168.2 | 222.4 | ||||||
Accounts
payable to associated companies
|
50.4 | 30.5 | ||||||
Regulatory
liabilities
|
70.2 | 51.0 | ||||||
Accrued
taxes
|
68.3 | 46.4 | ||||||
Derivative
liabilities
|
49.5 | 70.0 | ||||||
Other
|
62.1 | 70.5 | ||||||
658.7 | 668.2 | |||||||
Other
long-term liabilities and deferred credits:
|
||||||||
Deferred
income taxes
|
690.4 | 500.0 | ||||||
Regulatory
liabilities
|
574.5 | 463.8 | ||||||
Pension
and other benefit obligations
|
119.2 | 213.9 | ||||||
Other
|
176.9 | 172.7 | ||||||
1,561.0 | 1,350.4 | |||||||
Commitments
and contingencies (Note 12)
|
||||||||
Total
capitalization and liabilities
|
$ | 4,892.2 | $ | 4,210.9 | ||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
||||||||||||
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Cash
flows from operating activities:
|
||||||||||||
Net
income
|
$ | 153.0 | $ | 141.6 | $ | 290.3 | ||||||
Adjustments
to reconcile net income to net cash
|
||||||||||||
flows
from operating activities:
|
||||||||||||
Depreciation
and amortization
|
152.8 | 131.3 | 143.1 | |||||||||
Other
amortizations
|
7.5 | 7.6 | 8.0 | |||||||||
Deferred
tax expense and investment tax credits
|
73.3 | 21.7 | 90.3 | |||||||||
Equity
component of allowance for funds used during construction
|
(24.2 | ) | (10.8 | ) | (0.5 | ) | ||||||
Gain
on sale of IPL's electric transmission assets
|
- | - | (218.8 | ) | ||||||||
Other
|
(0.8 | ) | 14.0 | (0.7 | ) | |||||||
Other
changes in assets and liabilities:
|
||||||||||||
Accounts
receivable
|
40.6 | (84.3 | ) | 19.5 | ||||||||
Sale
of accounts receivable
|
(25.0 | ) | (75.0 | ) | (25.0 | ) | ||||||
Income
tax refunds receivable
|
(54.8 | ) | (4.0 | ) | (44.6 | ) | ||||||
Production
fuel
|
(31.1 | ) | (14.8 | ) | (8.7 | ) | ||||||
Regulatory
assets
|
(109.7 | ) | (315.3 | ) | 85.0 | |||||||
Prepaid
gas costs
|
22.7 | (22.7 | ) | - | ||||||||
Prepaid
pension costs
|
- | 25.5 | (19.5 | ) | ||||||||
Accounts
payable
|
(21.2 | ) | 18.5 | 9.7 | ||||||||
Regulatory
liabilities
|
158.9 | (13.4 | ) | 5.0 | ||||||||
Accrued
taxes
|
21.9 | (3.8 | ) | (24.8 | ) | |||||||
Derivative
liabilities
|
(35.2 | ) | 70.1 | (25.2 | ) | |||||||
Deferred
income taxes
|
116.5 | 54.2 | (26.1 | ) | ||||||||
Non-current
taxes payable
|
25.8 | 2.4 | 0.1 | |||||||||
Pension
and other benefit obligations
|
(94.7 | ) | 162.1 | (19.6 | ) | |||||||
Other
|
(3.1 | ) | 8.8 | 19.9 | ||||||||
Net
cash flows from operating activities
|
373.2 | 113.7 | 257.4 | |||||||||
Cash
flows from (used for) investing activities:
|
||||||||||||
Utility
construction and acquisition expenditures
|
(733.6 | ) | (479.3 | ) | (315.4 | ) | ||||||
Proceeds
from asset sales
|
0.8 | 4.2 | 800.6 | |||||||||
Advances
for customer energy efficiency projects
|
(2.9 | ) | (3.8 | ) | (5.0 | ) | ||||||
Collections
of advances for customer energy efficiency projects
|
5.0 | 5.2 | 5.8 | |||||||||
Insurance
proceeds received for property damages
|
37.7 | 18.1 | - | |||||||||
Purchases
of emission allowances
|
(0.6 | ) | - | (23.9 | ) | |||||||
Other
|
(19.1 | ) | (13.5 | ) | (10.1 | ) | ||||||
Net
cash flows from (used for) investing activities
|
(712.7 | ) | (469.1 | ) | 452.0 | |||||||
Cash
flows from (used for) financing activities:
|
||||||||||||
Common
stock dividends
|
- | (29.1 | ) | (609.9 | ) | |||||||
Preferred
stock dividends
|
(15.4 | ) | (15.4 | ) | (15.4 | ) | ||||||
Capital
contribution from parent
|
150.0 | 200.0 | 100.0 | |||||||||
Repayment
of capital to parent
|
(106.1 | ) | (75.0 | ) | - | |||||||
Proceeds
from issuance of long-term debt
|
300.0 | 250.0 | - | |||||||||
Payments
to retire long-term debt
|
(135.0 | ) | (16.6 | ) | (129.8 | ) | ||||||
Net
change in short-term borrowings
|
147.6 | 12.9 | (14.4 | ) | ||||||||
Other
|
(7.4 | ) | (4.6 | ) | (1.0 | ) | ||||||
Net
cash flows from (used for) financing activities
|
333.7 | 322.2 | (670.5 | ) | ||||||||
Net
increase (decrease) in cash and cash equivalents
|
(5.8 | ) | (33.2 | ) | 38.9 | |||||||
Cash
and cash equivalents at beginning of period
|
6.2 | 39.4 | 0.5 | |||||||||
Cash
and cash equivalents at end of period
|
$ | 0.4 | $ | 6.2 | $ | 39.4 | ||||||
Supplemental
cash flows information:
|
||||||||||||
Cash
paid (refunded) during the period for:
|
||||||||||||
Interest
|
$ | 70.3 | $ | 55.8 | $ | 66.0 | ||||||
Income
taxes, net of refunds
|
$ | (87.5 | ) | $ | 31.7 | $ | 157.4 | |||||
Noncash
investing and financing activities:
|
||||||||||||
Capital
lease obligations incurred
|
$ | 1.1 | $ | - | $ | - | ||||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
CONSOLIDATED
STATEMENTS OF COMMON EQUITY
|
||||||||||||||||||||
Accumulated
|
Total
|
|||||||||||||||||||
Additional
|
Other
|
IPL
|
||||||||||||||||||
Common
|
Paid-In
|
Retained
|
Comprehensive
|
Common
|
||||||||||||||||
Stock
|
Capital
|
Earnings
|
Loss
|
Equity
|
||||||||||||||||
(in
millions)
|
||||||||||||||||||||
2007:
|
||||||||||||||||||||
Beginning balance
(a)
|
$ | 33.4 | $ | 772.8 | $ | 357.7 | $ | (1.6 | ) | $ | 1,162.3 | |||||||||
Earnings available
for common stock
|
274.9 | 274.9 | ||||||||||||||||||
Common stock
dividends
|
(609.9 | ) | (609.9 | ) | ||||||||||||||||
Capital contribution
from parent
|
100.0 | 100.0 | ||||||||||||||||||
Adoption of
accounting for uncertain tax positions (Note 5)
|
(1.7 | ) | (1.7 | ) | ||||||||||||||||
Other
|
0.3 | 0.3 | ||||||||||||||||||
Other comprehensive
income, net of tax
|
1.6 | 1.6 | ||||||||||||||||||
Ending
balance
|
33.4 | 873.1 | 21.0 | - | 927.5 | |||||||||||||||
2008:
|
||||||||||||||||||||
Earnings available
for common stock
|
126.2 | 126.2 | ||||||||||||||||||
Common stock
dividends
|
(29.1 | ) | (29.1 | ) | ||||||||||||||||
Capital contribution
from parent
|
200.0 | 200.0 | ||||||||||||||||||
Repayment of capital
to parent
|
(75.0 | ) | (75.0 | ) | ||||||||||||||||
Adoption of new
measurement date for retirement plans,
|
||||||||||||||||||||
net
of tax of ($1.3) (Note 6(a))
|
(1.3 | ) | (1.3 | ) | ||||||||||||||||
Ending
balance
|
33.4 | 998.1 | 116.8 | - | 1,148.3 | |||||||||||||||
2009:
|
||||||||||||||||||||
Earnings
available for common stock
|
137.6 | 137.6 | ||||||||||||||||||
Capital
contribution from parent
|
150.0 | 150.0 | ||||||||||||||||||
Repayment
of capital to parent
|
(106.1 | ) | (106.1 | ) | ||||||||||||||||
Other
|
0.2 | 0.2 | ||||||||||||||||||
Ending
balance
|
$ | 33.4 | $ | 1,042.2 | $ | 254.4 | $ | - | $ | 1,330.0 | ||||||||||
(a)
Accumulated other comprehensive loss at Jan. 1, 2007 consisted entirely of
retirement benefits compensation-related
|
||||||||||||||||||||
adjustments. |
CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
|
||||||||||||
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Earnings available
for common stock
|
$ | 137.6 | $ | 126.2 | $ | 274.9 | ||||||
Other comprehensive
income, net of tax:
|
||||||||||||
Pension and other
postretirement benefits amortizations and
|
||||||||||||
reclassification to
regulatory assets, net of tax of $-, $- and $1.2
|
- | - | 1.6 | |||||||||
Total other
comprehensive income
|
- | - | 1.6 | |||||||||
Comprehensive
income
|
$ | 137.6 | $ | 126.2 | $ | 276.5 | ||||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
Summary of
Significant Accounting Policies
|
Note 1(a) to 1(e),
1(g) to 1(k), 1(m), 1(n), 1(p) to 1(r)
|
Utility Rate
Cases
|
Note
2
|
Operating
Leases
|
Note
3(a)
|
Receivables
|
Note 4(a), 4(c),
4(d), 4(e)
|
Income
Taxes
|
Note
5
|
Benefit
Plans
|
Note
6
|
Common Equity and
Preferred Stock
|
Note 7(a),
7(b)
|
Debt
|
Note
8
|
Investments
|
Note
9(b)
|
Fair Value
Measurements
|
Note
10
|
Derivative
Instruments
|
Note
11
|
Commitments and
Contingencies
|
Note 12(a), 12(b),
12(c), 12(e), 12(f), 12(g), 12(h)
|
Jointly-Owned
Electric Utility Plant
|
Note
13
|
Goodwill and Other
Intangible Assets
|
Note
15
|
Discontinued
Operations
|
Note
17
|
Asset Retirement
Obligations
|
Note
18
|
Variable Interest
Entities
|
Note
19
|
Related
Parties
|
Note
20
|
Sale of IPL’s
Electric Transmission Assets
|
Note
22
|
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
||||||||||||||||||||||
Operating
leases
|
$ | 5 | $ | 4 | $ | 3 | $ | 3 | $ | 2 | $ | 21 | $ | 38 |
2009
|
2008
|
2007
|
||||||||||
Current tax expense
(benefit):
|
||||||||||||
Federal
|
$ | (59.5 | ) | $ | 14.6 | $ | 82.4 | |||||
State
|
5.9 | 16.7 | 22.7 | |||||||||
Deferred tax expense
(benefit):
|
||||||||||||
Federal
|
109.5 | 25.8 | 59.6 | |||||||||
State
|
(35.6 | ) | (2.1 | ) | 35.4 | |||||||
Investment tax
credits
|
(0.6 | ) | (2.0 | ) | (4.8 | ) | ||||||
Provision recorded
as a change in uncertain tax positions
|
7.0 | 2.3 | (0.4 | ) | ||||||||
Provision recorded
as a change in accrued interest
|
0.3 | (2.7 | ) | (8.1 | ) | |||||||
$ | 27.0 | $ | 52.6 | $ | 186.8 |
2009
|
2008
|
2007
|
|||
Statutory
federal income tax rate
|
35.0%
|
35.0%
|
35.0%
|
||
State income taxes, net of federal tax
benefits
|
4.0
|
4.5
|
3.1
|
||
Electric transmission assets
sale
|
--
|
--
|
4.1
|
||
Amortization of investment tax
credits
|
(0.4)
|
(1.0)
|
(0.5)
|
||
Effect of rate making on property related
differences
|
(1.5)
|
(4.3)
|
(0.9)
|
||
Adjustment of prior period
taxes
|
(5.4)
|
(8.8)
|
(0.2)
|
||
State filing changes
|
(18.2)
|
--
|
--
|
||
Other items, net
|
1.5
|
1.7
|
(1.4)
|
||
Overall
effective income tax rate
|
15.0%
|
27.1%
|
39.2%
|
2009
|
2008
|
|||||||||||||||||||||||
Deferred
|
Deferred
Tax
|
Deferred
|
Deferred
Tax
|
|||||||||||||||||||||
Tax
Assets
|
Liabilities
|
Net
|
Tax
Assets
|
Liabilities
|
Net
|
|||||||||||||||||||
Property
|
$ | -- | $ | 673.6 | $ | 673.6 | $ | -- | $ | 418.2 | $ | 418.2 | ||||||||||||
Deferred portion of
tax gain on electric
|
||||||||||||||||||||||||
transmission assets sale
|
-- | 125.5 | 125.5 | -- | 156.5 | 156.5 | ||||||||||||||||||
Pension and other
postretirement
|
||||||||||||||||||||||||
benefits obligations
|
-- | 43.7 | 43.7 | -- | 46.3 | 46.3 | ||||||||||||||||||
Regulatory asset -
IPL base-load project
|
-- | 9.7 | 9.7 | -- | -- | -- | ||||||||||||||||||
Regulatory
asset/(liability) - commodity
|
||||||||||||||||||||||||
cost recovery
|
-- | 2.1 | 2.1 | (12.0 | ) | -- | (12.0 | ) | ||||||||||||||||
Investment tax
credits
|
(4.4 | ) | -- | (4.4 | ) | (4.9 | ) | -- | (4.9 | ) | ||||||||||||||
Federal credit
carryforward
|
(5.9 | ) | -- | (5.9 | ) | -- | -- | -- | ||||||||||||||||
Regulatory liability
- flood insurance
|
(11.3 | ) | -- | (11.3 | ) | -- | -- | -- | ||||||||||||||||
Emission
allowances
|
(13.3 | ) | -- | (13.3 | ) | (24.6 | ) | -- | (24.6 | ) | ||||||||||||||
Regulatory liability
- Duane Arnold
|
||||||||||||||||||||||||
Energy Center sale
|
(15.7 | ) | -- | (15.7 | ) | (24.3 | ) | -- | (24.3 | ) | ||||||||||||||
Net
operating losses carryforward - federal
|
(26.2 | ) | -- | (26.2 | ) | -- | -- | -- | ||||||||||||||||
Regulatory liability
- electric
|
||||||||||||||||||||||||
transmission assets sale
|
(32.1 | ) | -- | (32.1 | ) | (36.5 | ) | -- | (36.5 | ) | ||||||||||||||
Regulatory liability
- repairs expenditures
|
(53.5 | ) | -- | (53.5 | ) | -- | -- | -- | ||||||||||||||||
Other
|
(25.3 | ) | 17.2 | (8.1 | ) | (21.2 | ) | 16.1 | (5.1 | ) | ||||||||||||||
$ | (187.7 | ) | $ | 871.8 | $ | 684.1 | $ | (123.5 | ) | $ | 637.1 | $ | 513.6 |
2009
|
2008
|
||||
Other current
assets
|
$(6.3)
|
$--
|
|||
Other current
liabilities
|
--
|
13.6
|
|||
Deferred income
taxes
|
690.4
|
500.0
|
|||
Total deferred tax
liabilities
|
$684.1
|
$513.6
|
2009
|
2008
|
2007
|
||||||||||
Balance, Jan.
1
|
$ | 9.4 | $ | 7.1 | $ | 7.5 | ||||||
Additions based on
tax positions related to the current year
|
3.2 | 1.7 | 0.9 | |||||||||
Reductions based on
tax positions related to the current year
|
-- | -- | -- | |||||||||
Additions for tax
positions of prior years
|
51.2 | 4.9 | 0.1 | |||||||||
Reductions for tax
positions of prior years
|
(4.1 | ) | (0.5 | ) | (0.1 | ) | ||||||
Settlements with
taxing authorities
|
-- | (2.3 | ) | -- | ||||||||
Lapse of statute of
limitations
|
(1.3 | ) | (1.5 | ) | (1.3 | ) | ||||||
Balance, Dec.
31
|
$ | 58.4 | $ | 9.4 | $ | 7.1 | ||||||
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
||||||||||
2009 | 2008 | 2007 | ||||||||||
Tax
positions favorably impacting future effective tax rates
|
$ | 10.9 | $ | 8.8 | $ | 6.6 | ||||||
Interest
accrued
|
2.8 | 0.8 | 0.7 | |||||||||
Penalties
accrued
|
-- | -- | -- |
Qualified Defined
Benefit
|
Other
Postretirement
|
|||||||||||||||||||||||
Pension
Plans
|
Benefits
Plans
|
|||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||
Service
cost
|
$ | 6.1 | $ | 6.1 | $ | 6.2 | $ | 3.1 | $ | 2.8 | $ | 2.8 | ||||||||||||
Interest
cost
|
16.1 | 15.8 | 14.3 | 7.3 | 7.3 | 7.2 | ||||||||||||||||||
Expected return on
plan assets
|
(14.0 | ) | (21.6 | ) | (19.2 | ) | (4.2 | ) | (6.1 | ) | (5.8 | ) | ||||||||||||
Amortization
of:
|
||||||||||||||||||||||||
Transition obligation
|
-- | -- | -- | 0.2 | 0.2 | 0.2 | ||||||||||||||||||
Prior service cost
(credit)
|
0.8 | 1.0 | 1.1 | (1.6 | ) | (1.6 | ) | (1.7 | ) | |||||||||||||||
Actuarial loss
|
9.3 | 0.2 | 1.2 | 4.0 | 2.0 | 2.8 | ||||||||||||||||||
$ | 18.3 | $ | 1.5 | $ | 3.6 | $ | 8.8 | $ | 4.6 | $ | 5.5 |
Pension Benefits
Costs (Credits)
|
Other Postretirement
Benefits Costs
|
|||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||
Non-bargaining IPL
employees
|
||||||||||||||||||||||||
participating in other
plans
|
$ | 4.3 | $ | (3.0 | ) | $ | (0.9 | ) | N/A | N/A | N/A | |||||||||||||
Allocated Corporate
Services costs
|
1.8 | 1.1 | 4.2 | $ | 1.8 | $ | 1.5 | $ | 1.3 |
1%
Increase
|
1%
Decrease
|
|||||||
Effect on total of
service and interest cost components
|
$ | 0.6 | $ | (0.6 | ) | |||
Effect on
postretirement benefit obligation
|
5.9 | (6.1 | ) |
Qualified
Defined
|
Other
Postretirement
|
|||||||
Benefit Pension
Plans
|
Benefits
Plans
|
|||||||
Actuarial
loss
|
$ | 7.1 | $ | 3.4 | ||||
Prior service cost
(credit)
|
0.7 | (1.6 | ) | |||||
Transition
obligation
|
-- | 0.2 | ||||||
$ | 7.8 | $ | 2.0 |
Qualified Defined
Benefit
|
Other
Postretirement
|
|||||||||||||||
Pension
Plans
|
Benefits
Plans
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Change in projected
benefit obligation:
|
||||||||||||||||
Net projected benefit obligation at
measurement date
|
$ | 262.1 | $ | 250.3 | $ | 120.5 | $ | 119.7 | ||||||||
Effect of change from Sep. 30 to Dec. 31
measurement date
|
-- | 2.7 | -- | 0.3 | ||||||||||||
Service cost
|
6.1 | 6.1 | 3.1 | 2.8 | ||||||||||||
Interest cost
|
16.1 | 15.8 | 7.3 | 7.3 | ||||||||||||
Plan participants’
contributions
|
-- | -- | 1.3 | 1.0 | ||||||||||||
Actuarial (gain) loss
|
13.4 | (2.9 | ) | 0.8 | (0.7 | ) | ||||||||||
Gross benefits paid
|
(13.4 | ) | (9.9 | ) | (9.6 | ) | (10.4 | ) | ||||||||
Federal subsidy on other postretirement
benefits paid
|
-- | -- | 0.5 | 0.5 | ||||||||||||
Net projected benefit obligation at Dec.
31
|
284.3 | 262.1 | 123.9 | 120.5 | ||||||||||||
Change in plan
assets:
|
||||||||||||||||
Fair value of plan assets at measurement
date
|
163.2 | 255.3 | 54.6 | 81.6 | ||||||||||||
Effect of change from Sep. 30 to Dec. 31
measurement date
|
-- | 2.6 | -- | 0.5 | ||||||||||||
Actual return on plan
assets
|
39.4 | (84.8 | ) | 13.3 | (22.8 | ) | ||||||||||
Employer contributions
|
53.6 | -- | 8.8 | 4.7 | ||||||||||||
Plan participants’
contributions
|
-- | -- | 1.3 | 1.0 | ||||||||||||
Gross benefits paid
|
(13.4 | ) | (9.9 | ) | (9.6 | ) | (10.4 | ) | ||||||||
Fair value of plan assets at Dec.
31
|
242.8 | 163.2 | 68.4 | 54.6 | ||||||||||||
Under funded status
at Dec. 31
|
$ | (41.5 | ) | $ | (98.9 | ) | $ | (55.5 | ) | $ | (65.9 | ) | ||||
Amounts recognized
on the Consolidated
|
||||||||||||||||
Balance Sheets consist of:
|
||||||||||||||||
Pension and other benefit
obligations
|
$ | (41.5 | ) | $ | (98.9 | ) | $ | (55.5 | ) | $ | (65.9 | ) | ||||
Amounts recognized
in Regulatory Assets:
|
||||||||||||||||
Net actuarial loss
|
$ | 105.8 | $ | 127.1 | $ | 46.7 | $ | 58.9 | ||||||||
Prior service cost
(credit)
|
2.2 | 3.0 | (2.4 | ) | (4.0 | ) | ||||||||||
Transition obligation
|
-- | -- | 0.6 | 0.8 | ||||||||||||
$ | 108.0 | $ | 130.1 | $ | 44.9 | $ | 55.7 |
Qualified Defined
Benefit
|
Other
Postretirement
|
|||||||||||||||
Pension
Plans
|
Benefits
Plans
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Accumulated benefit
obligations
|
$ | 259.7 | $ | 236.0 | $ | 123.9 | $ | 120.5 | ||||||||
Plans with
accumulated benefit obligations in excess
|
||||||||||||||||
of plan assets:
|
||||||||||||||||
Accumulated benefit
obligations
|
259.7 | 236.0 | 123.9 | 120.5 | ||||||||||||
Fair value of plan
assets
|
242.8 | 163.2 | 68.4 | 54.6 | ||||||||||||
Plans with projected
benefit obligations in excess
|
||||||||||||||||
of plan assets:
|
||||||||||||||||
Projected benefit
obligations
|
284.3 | 262.1 | N/A | N/A | ||||||||||||
Fair value of plan
assets
|
242.8 | 163.2 | N/A | N/A |
2010
|
2011
|
2012
|
2013
|
2014
|
2015 - 2019 | |||||||||||||||||||
Pension
benefits
|
$ | 13.1 | $ | 14.0 | $ | 14.9 | $ | 15.8 | $ | 17.0 | $ | 101.1 | ||||||||||||
Other postretirement
benefits
|
9.8 | 9.6 | 9.8 | 10.2 | 10.5 | 56.6 | ||||||||||||||||||
Medicare
subsidies
|
(0.6 | ) | (0.7 | ) | (0.7 | ) | (0.8 | ) | (0.8 | ) | (5.3 | ) | ||||||||||||
$ | 22.3 | $ | 22.9 | $ | 24.0 | $ | 25.2 | $ | 26.7 | $ | 152.4 |
Fair
Value
|
||||||||||||||||
Measurements
|
||||||||||||||||
at Dec. 31,
2009
|
Level
1
|
Level
2
|
Level
3
|
|||||||||||||
Cash and
equivalents
|
$ | 11.3 | $ | 11.3 | $ | -- | $ | -- | ||||||||
Equity
securities:
|
||||||||||||||||
U.S. large cap core
|
32.7 | 32.7 | -- | -- | ||||||||||||
U.S. large cap value
|
27.2 | -- | 27.2 | -- | ||||||||||||
U.S. large cap growth
|
27.1 | -- | 27.1 | -- | ||||||||||||
U.S. small cap value
|
7.3 | -- | 7.3 | -- | ||||||||||||
U.S. small cap growth
|
4.3 | 4.3 | -- | -- | ||||||||||||
International - developed
markets
|
41.0 | 21.4 | 19.6 | -- | ||||||||||||
International - emerging
markets
|
12.3 | 12.3 | -- | -- | ||||||||||||
Fixed income
securities:
|
||||||||||||||||
Corporate bonds
|
19.4 | -- | 19.4 | -- | ||||||||||||
Government and agency
obligations
|
22.2 | -- | 22.2 | -- | ||||||||||||
Fixed income funds
|
41.0 | 0.5 | 40.5 | -- | ||||||||||||
Securities lending
invested collateral
|
7.8 | 2.1 | 4.7 | 1.0 | ||||||||||||
253.6 | $ | 84.6 | $ | 168.0 | $ | 1.0 | ||||||||||
Accrued investment
income
|
0.5 | |||||||||||||||
Due
to brokers, net (a)
|
(1.1 | ) | ||||||||||||||
Due
to borrowers for securities lending program
|
(10.2 | ) | ||||||||||||||
Total pension plan assets
|
$ | 242.8 |
Securities
Lending
|
||||
Invested
Collateral
|
||||
Beginning balance,
Jan. 1, 2009
|
$ | 2.3 | ||
Actual return on plan
assets:
|
||||
Relating to assets
still held at the reporting date
|
(0.1 | ) | ||
Relating to assets
sold during the period
|
0.1 | |||
Purchases, sales and settlements,
net
|
(1.4 | ) | ||
Transfers in and/or out of Level
3
|
0.1 | |||
Ending balance, Dec.
31, 2009
|
$ | 1.0 |
Fair
Value
|
||||||||||||||||
Measurements
|
||||||||||||||||
at Dec. 31,
2009
|
Level
1
|
Level
2
|
Level
3
|
|||||||||||||
Cash and
equivalents
|
$ | 4.5 | $ | 4.5 | $ | -- | $ | -- | ||||||||
Equity
securities:
|
||||||||||||||||
U.S. large cap core
|
24.7 | 24.7 | -- | -- | ||||||||||||
U.S. large cap value
|
0.8 | -- | 0.8 | -- | ||||||||||||
U.S. large cap growth
|
0.8 | -- | 0.8 | -- | ||||||||||||
U.S. mid cap core
|
12.8 | 12.8 | -- | -- | ||||||||||||
U.S. small cap value
|
0.2 | -- | 0.2 | -- | ||||||||||||
U.S. small cap growth
|
0.1 | 0.1 | -- | -- | ||||||||||||
International - developed
markets
|
1.2 | 0.6 | 0.6 | -- | ||||||||||||
International - emerging
markets
|
0.4 | 0.4 | -- | -- | ||||||||||||
Fixed income
securities:
|
||||||||||||||||
Corporate bonds
|
4.6 | -- | 4.6 | -- | ||||||||||||
Government and agency
obligations
|
3.0 | -- | 3.0 | -- | ||||||||||||
Fixed income funds
|
15.5 | 14.3 | 1.2 | -- | ||||||||||||
Securities lending
invested collateral
|
0.8 | 0.2 | 0.5 | 0.1 | ||||||||||||
69.4 | $ | 57.6 | $ | 11.7 | $ | 0.1 | ||||||||||
Accrued investment
income
|
0.1 | |||||||||||||||
Due
to borrowers for securities lending program
|
(1.1 | ) | ||||||||||||||
Total other postretirement benefits plan
assets
|
$ | 68.4 |
Securities
Lending
|
||||
Invested
Collateral
|
||||
Beginning balance,
Jan. 1, 2009
|
$ | 0.2 | ||
Purchases, sales and settlements,
net
|
(0.1 | ) | ||
Ending balance, Dec.
31, 2009
|
$ | 0.1 |
Fair
Value
|
||||||||||||||||
Measurements
|
Level
1
|
Level
2
|
Level
3
|
|||||||||||||
Dec. 31,
2009
|
||||||||||||||||
Assets:
|
||||||||||||||||
Derivative assets
|
$ | 16.4 | $ | -- | $ | 8.5 | $ | 7.9 | ||||||||
Available-for-sale
securities
|
2.3 | 0.4 | 1.8 | 0.1 | ||||||||||||
Liabilities:
|
||||||||||||||||
Derivative
liabilities
|
53.0 | -- | 51.1 | 1.9 | ||||||||||||
Dec. 31,
2008
|
||||||||||||||||
Assets:
|
||||||||||||||||
Derivative assets
|
8.7 | -- | 1.6 | 7.1 | ||||||||||||
Available-for-sale
securities
|
2.3 | 2.3 | -- | -- | ||||||||||||
Liabilities:
|
||||||||||||||||
Derivative liabilities
|
88.2 | -- | 81.4 | 6.8 |
Derivative Assets
and
|
||||||||
Liabilities,
net
|
||||||||
2009
|
2008
|
|||||||
Beginning balance,
Jan. 1
|
$ | 0.3 | $ | 15.0 | ||||
Total gains or
(losses) (realized/unrealized) included in changes in net assets
(a)
|
(2.8 | ) | (1.3 | ) | ||||
Purchases, sales,
issuances and settlements, net
|
8.6 | (13.4 | ) | |||||
Ending balance, Dec.
31
|
$ | 6.1 | $ | 0.3 | ||||
The
amount of total gains or (losses) for the period included in changes in
net
|
||||||||
assets attributable to the change in
unrealized gains or (losses) relating to assets
|
||||||||
and liabilities held at Dec. 31
(a)
|
$ | (2.8 | ) | $ | 0.3 |
(a)
|
Recorded in
“Regulatory assets” and “Regulatory liabilities” on IPL’s Consolidated
Balance Sheets.
|
Electric
|
Gas
|
Other
|
Total
|
|||||||||||||
2009
|
||||||||||||||||
Operating
revenues
|
$ | 1,315.6 | $ | 308.8 | $ | 83.6 | $ | 1,708.0 | ||||||||
Depreciation
and amortization
|
130.3 | 13.6 | 8.9 | 152.8 | ||||||||||||
Operating
income (loss)
|
196.8 | 27.7 | (2.8 | ) | 221.7 | |||||||||||
Interest
expense, net of allowance for funds used
|
||||||||||||||||
during construction
(AFUDC)
|
42.5 | |||||||||||||||
Interest
income
|
(0.8 | ) | ||||||||||||||
Income
taxes
|
27.0 | |||||||||||||||
Net
income
|
153.0 | |||||||||||||||
Preferred
dividends
|
15.4 | |||||||||||||||
Earnings
available for common stock
|
137.6 | |||||||||||||||
Total
assets
|
3,976.6 | 461.4 | 454.2 | 4,892.2 | ||||||||||||
Construction
and acquisition expenditures
|
711.3 | 17.5 | 4.8 | 733.6 |
2008
|
||||||||||||||||
Operating
revenues
|
1,258.3
|
410.4
|
89.3
|
1,758.0
|
||||||||||||
Depreciation and
amortization
|
115.5
|
12.7
|
3.1
|
131.3
|
||||||||||||
Operating income
(loss)
|
219.2
|
25.9
|
(5.4)
|
239.7
|
||||||||||||
Interest expense,
net of AFUDC
|
46.8
|
|||||||||||||||
Interest
income
|
(1.3)
|
|||||||||||||||
Income
taxes
|
52.6
|
|||||||||||||||
Net
income
|
141.6
|
|||||||||||||||
Preferred
dividends
|
15.4
|
|||||||||||||||
Earnings available
for common stock
|
126.2
|
|||||||||||||||
Total
assets
|
3,232.1
|
483.4
|
495.4
|
4,210.9
|
||||||||||||
Construction and
acquisition expenditures
|
438.8
|
14.5
|
26.0
|
479.3
|
2007
|
||||||||||||||||
Operating
revenues
|
1,270.1
|
364.5
|
61.3
|
1,695.9
|
||||||||||||
Depreciation and
amortization
|
128.9
|
12.2
|
2.0
|
143.1
|
||||||||||||
Gain on sale of
IPL’s electric transmission assets
|
218.8
|
--
|
--
|
218.8
|
||||||||||||
Operating
income
|
512.2
|
22.0
|
0.9
|
535.1
|
||||||||||||
Interest expense,
net of AFUDC
|
59.1
|
|||||||||||||||
Interest
income
|
(1.1)
|
|||||||||||||||
Income
taxes
|
186.8
|
|||||||||||||||
Net
income
|
290.3
|
|||||||||||||||
Preferred
dividends
|
15.4
|
|||||||||||||||
Earnings available
for common stock
|
274.9
|
|||||||||||||||
Total
assets
|
2,646.3
|
399.0
|
316.7
|
3,362.0
|
||||||||||||
Construction and
acquisition expenditures
|
296.2
|
17.1
|
2.1
|
315.4
|
2009
|
2008
|
|||||||||||||||||||||||||||||||
March
31
|
June
30
|
Sep.
30
|
Dec.
31
|
March
31
|
June
30
|
Sep.
30
|
Dec.
31
|
|||||||||||||||||||||||||
(in
millions)
|
||||||||||||||||||||||||||||||||
Operating
revenues
|
$ | 492.4 | $ | 343.8 | $ | 457.9 | $ | 413.9 | $ | 473.3 | $ | 385.4 | $ | 464.4 | $ | 434.9 | ||||||||||||||||
Operating
income
|
24.2 | 33.7 | 116.6 | 47.2 | 57.9 | 32.3 | 104.7 | 44.8 | ||||||||||||||||||||||||
Net
income
|
41.7 | 19.4 | 72.8 | 19.1 | 29.2 | 20.5 | 63.1 | 28.8 | ||||||||||||||||||||||||
Earnings available
for common stock
|
37.8 | 15.6 | 69.0 | 15.2 | 25.3 | 16.7 | 59.3 | 24.9 |
CONSOLIDATED
STATEMENTS OF INCOME
|
||||||||||||
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Operating
revenues:
|
||||||||||||
Electric
utility
|
$ | 1,160.3 | $ | 1,153.0 | $ | 1,140.7 | ||||||
Gas
utility
|
216.5 | 300.0 | 265.7 | |||||||||
Other
|
9.3 | 12.8 | 10.4 | |||||||||
1,386.1 | 1,465.8 | 1,416.8 | ||||||||||
Operating
expenses:
|
||||||||||||
Electric
production fuel and energy purchases
|
451.3 | 434.2 | 417.5 | |||||||||
Purchased
electric capacity
|
144.6 | 145.1 | 166.6 | |||||||||
Electric
transmission service
|
94.2 | 93.2 | 81.0 | |||||||||
Cost of
gas sold
|
138.1 | 213.6 | 175.0 | |||||||||
Other
operation and maintenance
|
234.3 | 232.3 | 236.2 | |||||||||
Depreciation
and amortization
|
115.4 | 101.7 | 109.9 | |||||||||
Taxes
other than income taxes
|
41.2 | 40.8 | 39.9 | |||||||||
1,219.1 | 1,260.9 | 1,226.1 | ||||||||||
Operating
income
|
167.0 | 204.9 | 190.7 | |||||||||
Interest
expense and other:
|
||||||||||||
Interest
expense
|
74.8 | 62.2 | 49.6 | |||||||||
Equity
income from unconsolidated investments
|
(37.0 | ) | (33.9 | ) | (28.4 | ) | ||||||
Allowance
for funds used during construction
|
(5.7 | ) | (9.6 | ) | (2.6 | ) | ||||||
Interest
income and other
|
(0.4 | ) | (0.6 | ) | (0.7 | ) | ||||||
31.7 | 18.1 | 17.9 | ||||||||||
Income
before income taxes
|
135.3 | 186.8 | 172.8 | |||||||||
Income
taxes
|
45.8 | 68.4 | 59.3 | |||||||||
Net
income
|
89.5 | 118.4 | 113.5 | |||||||||
Preferred
dividend requirements
|
3.3 | 3.3 | 3.3 | |||||||||
Earnings
available for common stock
|
$ | 86.2 | $ | 115.1 | $ | 110.2 | ||||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
CONSOLIDATED
BALANCE SHEETS
|
||||||||
December
31,
|
||||||||
ASSETS
|
2009
|
2008
|
||||||
(in
millions)
|
||||||||
Property,
plant and equipment:
|
||||||||
Electric
plant in service
|
$ | 2,726.5 | $ | 2,500.3 | ||||
Gas
plant in service
|
393.8 | 370.1 | ||||||
Other
plant in service
|
219.8 | 198.1 | ||||||
Accumulated
depreciation
|
(1,185.8 | ) | (1,165.9 | ) | ||||
Net
plant
|
2,154.3 | 1,902.6 | ||||||
Leased
Sheboygan Falls Energy Facility, less accumulated amortization of $28.2
and $22.1
|
95.5 | 101.7 | ||||||
Construction
work in progress:
|
||||||||
Bent
Tree - Phase I wind project
|
165.5 | - | ||||||
Other
|
39.4 | 88.4 | ||||||
Other,
less accumulated depreciation of $1.6 and $1.1
|
21.0 | 3.8 | ||||||
2,475.7 | 2,096.5 | |||||||
Current
assets:
|
||||||||
Cash and
cash equivalents
|
18.5 | 4.5 | ||||||
Accounts
receivable:
|
||||||||
Customer,
less allowance for doubtful accounts of $1.6 and $1.8
|
80.8 | 83.4 | ||||||
Unbilled
utility revenues
|
86.7 | 92.5 | ||||||
Other,
less allowance for doubtful accounts of $0.4 and $-
|
45.7 | 75.9 | ||||||
Income
tax refunds receivable
|
81.3 | 8.4 | ||||||
Production
fuel, at weighted average cost
|
39.1 | 40.4 | ||||||
Materials
and supplies, at weighted average cost
|
22.7 | 22.8 | ||||||
Gas
stored underground, at weighted average cost
|
27.4 | 47.9 | ||||||
Regulatory
assets
|
78.6 | 21.8 | ||||||
Prepaid
gross receipts tax
|
38.5 | 37.8 | ||||||
Derivative
assets
|
11.2 | 10.7 | ||||||
Other
|
30.3 | 25.6 | ||||||
560.8 | 471.7 | |||||||
Investments:
|
||||||||
Investment
in American Transmission Company LLC
|
218.6 | 195.1 | ||||||
Other
|
22.7 | 22.2 | ||||||
241.3 | 217.3 | |||||||
Other
assets:
|
||||||||
Regulatory
assets
|
331.3 | 378.6 | ||||||
Deferred
charges and other
|
72.3 | 101.4 | ||||||
403.6 | 480.0 | |||||||
Total
assets
|
$ | 3,681.4 | $ | 3,265.5 | ||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
WISCONSIN
POWER AND LIGHT COMPANY
|
||||||||
CONSOLIDATED
BALANCE SHEETS (Continued)
|
||||||||
December
31,
|
||||||||
CAPITALIZATION
AND LIABILITIES
|
2009
|
2008
|
||||||
(in millions, except
per
|
||||||||
share and share
amounts)
|
||||||||
Capitalization:
|
||||||||
Wisconsin
Power and Light Company common equity:
|
||||||||
Common stock - $5
par value - 18,000,000 shares authorized;
|
||||||||
13,236,601
shares outstanding
|
$ | 66.2 | $ | 66.2 | ||||
Additional paid-in
capital
|
768.9 | 668.9 | ||||||
Retained
earnings
|
419.6 | 424.4 | ||||||
Total
Wisconsin Power and Light Company common equity
|
1,254.7 | 1,159.5 | ||||||
Cumulative
preferred stock
|
60.0 | 60.0 | ||||||
Long-term
debt, net (excluding current portion)
|
931.6 | 782.9 | ||||||
2,246.3 | 2,002.4 | |||||||
Current
liabilities:
|
||||||||
Current
maturities of long-term debt
|
100.0 | - | ||||||
Commercial
paper
|
- | 43.7 | ||||||
Accounts
payable
|
99.6 | 130.9 | ||||||
Accounts
payable to associated companies
|
15.7 | 26.1 | ||||||
Accrued
interest
|
24.1 | 17.9 | ||||||
Regulatory
liabilities
|
32.5 | 50.9 | ||||||
Accrued
taxes
|
6.1 | 2.4 | ||||||
Derivative
liabilities
|
51.0 | 8.6 | ||||||
Other
|
33.4 | 24.0 | ||||||
362.4 | 304.5 | |||||||
Other
long-term liabilities and deferred credits:
|
||||||||
Deferred
income taxes
|
490.8 | 329.3 | ||||||
Regulatory
liabilities
|
159.6 | 174.1 | ||||||
Capital
lease obligations - Sheboygan Falls Energy Facility
|
110.4 | 113.4 | ||||||
Pension
and other benefit obligations
|
121.7 | 185.1 | ||||||
Other
|
190.2 | 156.7 | ||||||
1,072.7 | 958.6 | |||||||
Commitments
and contingencies (Note 12)
|
||||||||
Total
capitalization and liabilities
|
$ | 3,681.4 | $ | 3,265.5 | ||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
||||||||||||
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Cash
flows from operating activities:
|
||||||||||||
Net
income
|
$ | 89.5 | $ | 118.4 | $ | 113.5 | ||||||
Adjustments
to reconcile net income to net cash
|
||||||||||||
flows
from operating activities:
|
||||||||||||
Depreciation
and amortization
|
115.4 | 101.7 | 109.9 | |||||||||
Other
amortizations
|
35.2 | 38.4 | 38.7 | |||||||||
Deferred
tax expense (benefit) and investment tax credits
|
157.7 | 36.1 | (6.9 | ) | ||||||||
Equity
income from unconsolidated investments
|
(37.0 | ) | (33.9 | ) | (28.4 | ) | ||||||
Distributions
from equity method investments
|
29.9 | 27.8 | 21.7 | |||||||||
Other
|
8.5 | (6.6 | ) | (1.6 | ) | |||||||
Other
changes in assets and liabilities:
|
||||||||||||
Accounts
receivable
|
31.3 | (68.7 | ) | 19.6 | ||||||||
Income
tax refunds receivable
|
(72.9 | ) | (5.8 | ) | (0.7 | ) | ||||||
Prepaid
pension costs
|
- | 37.2 | (24.2 | ) | ||||||||
Regulatory
assets
|
(54.2 | ) | (192.3 | ) | 44.3 | |||||||
Accounts
payable
|
(16.0 | ) | 27.2 | 2.6 | ||||||||
Regulatory
liabilities
|
(22.2 | ) | 2.3 | 3.7 | ||||||||
Derivative
liabilities
|
51.5 | 7.1 | (38.8 | ) | ||||||||
Deferred
income taxes
|
2.5 | 22.4 | 15.1 | |||||||||
Non-current
taxes payable
|
36.2 | (0.2 | ) | 0.1 | ||||||||
Pension
and other benefit obligations
|
(63.4 | ) | 112.3 | 0.4 | ||||||||
Other
|
13.8 | 16.3 | (11.0 | ) | ||||||||
Net
cash flows from operating activities
|
305.8 | 239.7 | 258.0 | |||||||||
Cash
flows used for investing activities:
|
||||||||||||
Utility construction
and acquisition expenditures:
|
||||||||||||
Neenah
Energy Facility and related assets
|
(92.4 | ) | - | - | ||||||||
Other
|
(416.0 | ) | (363.1 | ) | (203.1 | ) | ||||||
Advances
for customer energy efficiency projects
|
(28.1 | ) | (34.5 | ) | (44.9 | ) | ||||||
Collections
of advances for customer energy efficiency projects
|
58.6 | 33.1 | 30.7 | |||||||||
Proceeds
from asset sales
|
0.1 | 2.6 | 23.6 | |||||||||
Other
|
(15.6 | ) | (14.1 | ) | (13.3 | ) | ||||||
Net
cash flows used for investing activities
|
(493.4 | ) | (376.0 | ) | (207.0 | ) | ||||||
Cash
flows from (used for) financing activities:
|
||||||||||||
Common
stock dividends
|
(91.0 | ) | (91.3 | ) | (191.1 | ) | ||||||
Preferred
stock dividends
|
(3.3 | ) | (3.3 | ) | (3.3 | ) | ||||||
Capital
contribution from parent
|
100.0 | 100.0 | - | |||||||||
Proceeds
from issuance of long-term debt
|
250.0 | 250.0 | 300.0 | |||||||||
Payments
to retire long-term debt
|
- | (60.0 | ) | (105.0 | ) | |||||||
Net
change in short-term borrowings
|
(43.7 | ) | (38.1 | ) | (53.1 | ) | ||||||
Other
|
(10.4 | ) | (16.9 | ) | 0.3 | |||||||
Net
cash flows from (used for) financing activities
|
201.6 | 140.4 | (52.2 | ) | ||||||||
Net
increase (decrease) in cash and cash equivalents
|
14.0 | 4.1 | (1.2 | ) | ||||||||
Cash
and cash equivalents at beginning of period
|
4.5 | 0.4 | 1.6 | |||||||||
Cash
and cash equivalents at end of period
|
$ | 18.5 | $ | 4.5 | $ | 0.4 | ||||||
Supplemental
cash flows information:
|
||||||||||||
Cash
paid (refunded) during the period for:
|
||||||||||||
Interest
|
$ | 69.6 | $ | 57.6 | $ | 42.5 | ||||||
Income
taxes, net of refunds
|
$ | (76.1 | ) | $ | 30.7 | $ | 62.5 | |||||
Noncash
investing and financing activities:
|
||||||||||||
Capital
lease obligations incurred
|
$ | 0.7 | $ | - | $ | - | ||||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
CONSOLIDATED
STATEMENTS OF COMMON EQUITY
|
||||||||||||||||||||
Accumulated
|
Total
|
|||||||||||||||||||
Additional
|
Other
|
WPL
|
||||||||||||||||||
Common
|
Paid-In
|
Retained
|
Comprehensive
|
Common
|
||||||||||||||||
Stock
|
Capital
|
Earnings
|
Loss
|
Equity
|
||||||||||||||||
(in
millions)
|
||||||||||||||||||||
2007:
|
||||||||||||||||||||
Beginning balance
(a)
|
$ | 66.2 | $ | 568.6 | $ | 483.5 | $ | (7.5 | ) | $ | 1,110.8 | |||||||||
Earnings available
for common stock
|
110.2 | 110.2 | ||||||||||||||||||
Common stock
dividends
|
(191.1 | ) | (191.1 | ) | ||||||||||||||||
Adoption of
accounting for uncertain tax positions (Note 5)
|
(0.8 | ) | (0.8 | ) | ||||||||||||||||
Other
|
0.2 | 0.2 | ||||||||||||||||||
Other comprehensive
income, net of tax
|
7.5 | 7.5 | ||||||||||||||||||
Ending
balance
|
66.2 | 568.8 | 401.8 | - | 1,036.8 | |||||||||||||||
2008:
|
||||||||||||||||||||
Earnings available
for common stock
|
115.1 | 115.1 | ||||||||||||||||||
Common stock
dividends
|
(91.3 | ) | (91.3 | ) | ||||||||||||||||
Capital contribution
from parent
|
100.0 | 100.0 | ||||||||||||||||||
Adoption of new
measurement date for retirement plans,
|
||||||||||||||||||||
net
of tax of ($1.2) (Note 6(a))
|
(1.2 | ) | (1.2 | ) | ||||||||||||||||
Other
|
0.1 | 0.1 | ||||||||||||||||||
Ending
balance
|
66.2 | 668.9 | 424.4 | - | 1,159.5 | |||||||||||||||
2009:
|
||||||||||||||||||||
Earnings
available for common stock
|
86.2 | 86.2 | ||||||||||||||||||
Common
stock dividends
|
(91.0 | ) | (91.0 | ) | ||||||||||||||||
Capital
contribution from parent
|
100.0 | 100.0 | ||||||||||||||||||
Ending
balance
|
$ | 66.2 | $ | 768.9 | $ | 419.6 | $ | - | $ | 1,254.7 | ||||||||||
(a)
Accumulated other comprehensive loss at Jan. 1, 2007 consisted entirely of
retirement benefits compensation-related
|
||||||||||||||||||||
adjustments. |
CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
|
||||||||||||
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Earnings available
for common stock
|
$ | 86.2 | $ | 115.1 | $ | 110.2 | ||||||
Other comprehensive
income, net of tax:
|
||||||||||||
Pension and other
postretirement benefits amortizations and
|
||||||||||||
reclassification to
regulatory assets, net of tax of $-, $- and $5.7
|
- | - | 7.5 | |||||||||
Total other
comprehensive income
|
- | - | 7.5 | |||||||||
Comprehensive
income
|
$ | 86.2 | $ | 115.1 | $ | 117.7 | ||||||
The
accompanying Notes to Consolidated Financial Statements are an integral
part of these statements.
|
Summary of
Significant Accounting Policies
|
Note 1(a) to 1(e),
1(g) to 1(k), 1(m), 1(n), 1(p) to 1(r)
|
Utility Rate
Cases
|
Note
2
|
Operating
Leases
|
Note
3(a)
|
Receivables
|
Note 4(d),
4(e)
|
Income
Taxes
|
Note
5
|
Benefit
Plans
|
Note
6
|
Common Equity and
Preferred Stock
|
Note 7(a),
7(b)
|
Debt
|
Note
8
|
Investments
|
Note
9(b)
|
Fair Value
Measurements
|
Note
10
|
Derivative
Instruments
|
Note
11
|
Commitments and
Contingencies
|
Note 12(a), 12(b),
12(c), 12(e), 12(f), 12(h), 12(i)
|
Jointly-Owned
Electric Utility Plant
|
Note
13
|
Goodwill and Other
Intangible Assets
|
Note
15
|
Discontinued
Operations
|
Note
17
|
Asset Retirement
Obligations
|
Note
18
|
Variable Interest
Entities
|
Note
19
|
Related
Parties
|
Note
20
|
2009
|
2008
|
2007
|
||||||||||
Operating lease
rental expenses (excluding contingent rentals)
|
$ | 68 | $ | 77 | $ | 96 | ||||||
Contingent rentals
related to certain PPAs
|
7 | 7 | 19 | |||||||||
Other contingent
rentals
|
-- | -- | 1 | |||||||||
$ | 75 | $ | 84 | $ | 116 |
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
||||||||||||||||||||||
Riverside Energy
Center PPA
|
$ | 58 | $ | 59 | $ | 60 | $ | 17 | $ | -- | $ | -- | $ | 194 | ||||||||||||||
Synthetic leases
(a)
|
5 | 1 | 1 | 1 | 4 | 2 | 14 | |||||||||||||||||||||
Other
|
2 | 5 | 1 | 2 | -- | 1 | 11 | |||||||||||||||||||||
$ | 65 | $ | 65 | $ | 62 | $ | 20 | $ | 4 | $ | 3 | $ | 219 |
(a)
|
The synthetic leases
relate to the financing of certain utility railcars. The
entities that lease these assets to WPL are not required to be
consolidated and are not included on WPL’s Consolidated Balance
Sheets. WPL has guaranteed the residual value of the related
assets, which total $7 million in the aggregate. The guarantees
extend through the maturity of each respective underlying lease with
remaining terms up to six years. Residual value guarantee
amounts have been included in the future minimum operating lease
payments.
|
Less:
amount
|
Present value of
net
|
|||||||||||||||||||||||||||||||||
representing
|
minimum
capital
|
|||||||||||||||||||||||||||||||||
2010
|
2011
|
2012
|
2013
|
2014
|
Thereafter
|
Total
|
interest
|
lease
payments
|
||||||||||||||||||||||||||
$ | 15 | $ | 15 | $ | 15 | $ | 15 | $ | 15 | $ | 158 | $ | 233 | $ | 120 | $ | 113 |
2009
|
2008
|
2007
|
||||||||||
Current tax expense
(benefit):
|
||||||||||||
Federal
|
$ | (137.7 | ) | $ | 22.4 | $ | 55.8 | |||||
State
|
(14.3 | ) | 10.5 | 10.2 | ||||||||
Deferred tax expense
(benefit):
|
||||||||||||
Federal
|
153.6 | 34.2 | (4.0 | ) | ||||||||
State
|
9.3 | 3.3 | (1.3 | ) | ||||||||
Production tax
credit
|
(3.9 | ) | (0.3 | ) | -- | |||||||
Investment tax
credits
|
(1.3 | ) | (1.4 | ) | (1.5 | ) | ||||||
Provision recorded
as a change in uncertain tax positions
|
39.7 | 0.1 | -- | |||||||||
Provision recorded
as a change in accrued interest
|
0.4 | (0.4 | ) | 0.1 | ||||||||
$ | 45.8 | $ | 68.4 | $ | 59.3 |
2009
|
2008
|
2007
|
|||
Statutory
federal income tax rate
|
35.0%
|
35.0%
|
35.0%
|
||
State income taxes, net of federal
benefits
|
4.4
|
4.6
|
4.8
|
||
Adjustment of prior period
taxes
|
0.7
|
0.2
|
(0.1)
|
||
Amortization of excess deferred
taxes
|
(0.2)
|
(0.7)
|
(1.0)
|
||
Amortization of investment tax
credits
|
(1.0)
|
(0.7)
|
(0.8)
|
||
State filing changes
|
(1.8)
|
--
|
--
|
||
Production tax credits
|
(2.9)
|
(0.2)
|
--
|
||
Other items, net
|
(0.3)
|
(1.6)
|
(3.6)
|
||
Overall
effective income tax rate
|
33.9%
|
36.6%
|
34.3%
|
2009
|
2008
|
|||||||||||||||||||||||
Deferred
|
Deferred
Tax
|
Deferred
|
Deferred
Tax
|
|||||||||||||||||||||
Tax
Assets
|
Liabilities
|
Net
|
Tax
Assets
|
Liabilities
|
Net
|
|||||||||||||||||||
Property
|
$ | -- | $ | 389.0 | $ | 389.0 | $ | -- | $ | 232.5 | $ | 232.5 | ||||||||||||
Investment in
American
|
||||||||||||||||||||||||
Transmission Co. LLC
(ATC)
|
-- | 71.5 | 71.5 | -- | 52.2 | 52.2 | ||||||||||||||||||
Pension and other
postretirement
|
||||||||||||||||||||||||
benefits obligations
|
-- | 31.4 | 31.4 | -- | 33.5 | 33.5 | ||||||||||||||||||
Prepaid gross
receipts tax
|
-- | 15.3 | 15.3 | -- | 15.1 | 15.1 | ||||||||||||||||||
Regulatory asset -
WPL base-load project
|
-- | 5.1 | 5.1 | -- | 11.0 | 11.0 | ||||||||||||||||||
Regulatory
asset/(liability) - commodity
|
||||||||||||||||||||||||
cost recovery
|
-- | 1.6 | 1.6 | (18.1 | ) | -- | (18.1 | ) | ||||||||||||||||
Investment tax
credits
|
(8.2 | ) | -- | (8.2 | ) | (9.0 | ) | -- | (9.0 | ) | ||||||||||||||
Net
operating losses carryforward - state
|
(9.2 | ) | -- | (9.2 | ) | -- | -- | -- | ||||||||||||||||
Federal credit
carryforward
|
(11.2 | ) | -- | (11.2 | ) | -- | -- | -- | ||||||||||||||||
Customer
advances
|
(14.6 | ) | -- | (14.6 | ) | (13.6 | ) | -- | (13.6 | ) | ||||||||||||||
Net
operating losses carryforward - federal
|
(15.4 | ) | -- | (15.4 | ) | -- | -- | -- | ||||||||||||||||
Other
|
(13.0 | ) | 23.8 | 10.8 | (8.2 | ) | 13.0 | 4.8 | ||||||||||||||||
$ | (71.6 | ) | $ | 537.7 | $ | 466.1 | $ | (48.9 | ) | $ | 357.3 | $ | 308.4 | |||||||||||
2009 | 2008 | |||||||||||||||||||||||
Other current
assets
|
$ | (24.7 | ) | $ | (20.9 | ) | ||||||||||||||||||
Deferred income
taxes
|
490.8 | 329.3 | ||||||||||||||||||||||
Total deferred tax (assets) and
liabilities
|
$ | 466.1 | $ | 308.4 |
2009
|
2008
|
2007
|
||||||||||
Balance, Jan.
1
|
$ | 2.5 | $ | 2.4 | $ | 2.4 | ||||||
Additions based on
tax positions related to the current year
|
2.5 | 0.4 | 0.1 | |||||||||
Reductions based on
tax positions related to the current year
|
-- | -- | -- | |||||||||
Additions for tax
positions of prior years
|
37.3 | 2.5 | -- | |||||||||
Reductions for tax
positions of prior years
|
(0.2 | ) | (0.3 | ) | (0.1 | ) | ||||||
Settlements with
taxing authorities
|
-- | (2.5 | ) | -- | ||||||||
Lapse of statute of
limitations
|
-- | -- | -- | |||||||||
Balance, Dec.
31
|
$ | 42.1 | $ | 2.5 | $ | 2.4 | ||||||
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
||||||||||
2009 | 2008 | 2007 | ||||||||||
Tax
positions favorably impacting future effective tax rates
|
$ | 1.4 | $ | 1.7 | $ | 1.5 | ||||||
Interest
accrued
|
2.1 | 0.3 | 0.5 | |||||||||
Penalties
accrued
|
-- | -- | -- |
Qualified
Defined
|
Other
Postretirement
|
|||||||||||||||||||||||
Benefit Pension
Plans
|
Benefits
Plans
|
|||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||
Service
cost
|
$ | 4.9 | $ | 5.3 | $ | 5.6 | $ | 3.4 | $ | 3.3 | $ | 3.3 | ||||||||||||
Interest
cost
|
15.5 | 15.0 | 13.7 | 5.5 | 5.5 | 5.2 | ||||||||||||||||||
Expected return on
plan assets
|
(14.1 | ) | (21.4 | ) | (19.2 | ) | (1.1 | ) | (1.9 | ) | (1.8 | ) | ||||||||||||
Amortization
of:
|
||||||||||||||||||||||||
Prior service cost
(credit)
|
0.5 | 0.8 | 0.8 | (0.9 | ) | (1.0 | ) | (1.0 | ) | |||||||||||||||
Actuarial loss
|
10.4 | 1.0 | 2.9 | 1.3 | 1.0 | 1.1 | ||||||||||||||||||
Curtailment loss
(a)
|
0.7 | -- | -- | -- | -- | -- | ||||||||||||||||||
Special termination
benefits costs (b)
|
0.9 | -- | -- | -- | -- | -- | ||||||||||||||||||
$ | 18.8 | $ | 0.7 | $ | 3.8 | $ | 8.2 | $ | 6.9 | $ | 6.8 |
(a)
|
Refer to Note 6(a)
of Alliant Energy’s “Notes to Consolidated Financial Statements” for
details of the $0.7 million one-time curtailment loss recognized by WPL in
2009.
|
(b)
|
In 2009, WPL
recognized special termination benefits costs of $0.9 million related to
the qualified defined benefit pension plan that is sponsored by WPL as a
result of the elimination of certain operations positions in
2009.
|
Pension Benefits
Costs (Credits)
|
Other Postretirement
Benefits Costs
|
|||||||||||||||||||||||
2009
|
2008
|
2007
|
2009
|
2008
|
2007
|
|||||||||||||||||||
Non-bargaining WPL
employees
|
||||||||||||||||||||||||
participating in other
plans
|
$ | 3.4 | $ | (2.9 | ) | $ | (0.8 | ) | N/A | N/A | N/A | |||||||||||||
Allocated Corporate
Services costs
|
1.1 | 0.7 | 2.8 | $ | 1.2 | $ | 1.0 | $ | 0.8 |
1%
Increase
|
1%
Decrease
|
|||||||
Effect on total of
service and interest cost components
|
$ | 0.5 | $ | (0.5 | ) | |||
Effect on
postretirement benefit obligation
|
4.5 | (4.7 | ) |
Qualified
Defined
|
Other
Postretirement
|
|||||||
Benefit Pension
Plan
|
Benefits
Plans
|
|||||||
Actuarial
loss
|
$ | 8.5 | $ | 2.0 | ||||
Prior service cost
(credit)
|
0.5 | (0.9 | ) | |||||
$ | 9.0 | $ | 1.1 |
Qualified Defined
Benefit
|
Other
Postretirement
|
|||||||||||||||
Pension
Plan
|
Benefits
Plans
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Change in projected
benefit obligation:
|
||||||||||||||||
Net projected benefit obligation at
measurement date
|
$ | 252.9 | $ | 238.6 | $ | 89.3 | $ | 87.7 | ||||||||
Effect of change from Sep. 30 to Dec. 31
measurement date
|
-- | 2.8 | -- | 0.4 | ||||||||||||
Service cost
|
4.9 | 5.3 | 3.4 | 3.3 | ||||||||||||
Interest cost
|
15.5 | 15.0 | 5.5 | 5.5 | ||||||||||||
Plan participants’
contributions
|
-- | -- | 2.9 | 3.0 | ||||||||||||
Actuarial (gain) loss
|
7.5 | 0.7 | 7.9 | (0.1 | ) | |||||||||||
Gross benefits paid
|
(10.1 | ) | (9.5 | ) | (10.4 | ) | (11.0 | ) | ||||||||
Federal subsidy on other postretirement
benefits paid
|
-- | -- | 0.5 | 0.5 | ||||||||||||
Special termination
benefits
|
0.9 | -- | -- | -- | ||||||||||||
Net projected benefit obligation at Dec.
31
|
271.6 | 252.9 | 99.1 | 89.3 | ||||||||||||
Change in plan
assets:
|
||||||||||||||||
Fair value of plan assets at measurement
date
|
164.6 | 253.3 | 14.6 | 20.9 | ||||||||||||
Effect of change from Sep. 30 to Dec. 31
measurement date
|
-- | 3.0 | -- | 0.1 | ||||||||||||
Actual return on plan
assets
|
39.7 | (82.2 | ) | 3.2 | (5.9 | ) | ||||||||||
Employer contributions
|
42.4 | -- | 8.5 | 7.5 | ||||||||||||
Plan participants’
contributions
|
-- | -- | 2.9 | 3.0 | ||||||||||||
Gross benefits paid
|
(10.1 | ) | (9.5 | ) | (10.4 | ) | (11.0 | ) | ||||||||
Fair value of plan assets at Dec.
31
|
236.6 | 164.6 | 18.8 | 14.6 | ||||||||||||
Under funded status
at Dec. 31
|
$ | (35.0 | ) | $ | (88.3 | ) | $ | (80.3 | ) | $ | (74.7 | ) | ||||
Amounts recognized
on the Consolidated
|
||||||||||||||||
Balance Sheets consist of:
|
||||||||||||||||
Other current liabilities
|
$ | -- | $ | -- | $ | (3.5 | ) | $ | (4.5 | ) | ||||||
Pension and other benefit
obligations
|
(35.0 | ) | (88.3 | ) | (76.8 | ) | (70.2 | ) | ||||||||
Net amount recognized at Dec.
31
|
$ | (35.0 | ) | $ | (88.3 | ) | $ | (80.3 | ) | $ | (74.7 | ) | ||||
Amounts recognized
in Regulatory Assets:
|
||||||||||||||||
Net actuarial loss
|
$ | 112.5 | $ | 140.9 | $ | 28.6 | $ | 23.7 | ||||||||
Prior service cost
(credit)
|
3.4 | 4.7 | (1.7 | ) | (2.6 | ) | ||||||||||
$ | 115.9 | $ | 145.6 | $ | 26.9 | $ | 21.1 |
Qualified Defined
Benefit
|
Other
Postretirement
|
|||||||||||||||
Pension
Plan
|
Benefits
Plans
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Accumulated benefit
obligations
|
$ | 253.2 | $ | 230.1 | $ | 99.1 | $ | 89.3 | ||||||||
Plans with
accumulated benefit obligations in excess
|
||||||||||||||||
of plan assets:
|
||||||||||||||||
Accumulated benefit
obligations
|
253.2 | 230.1 | 99.1 | 89.3 | ||||||||||||
Fair value of plan assets
|
236.6 | 164.6 | 18.8 | 14.6 | ||||||||||||
Plans with projected
benefit obligations in excess
|
||||||||||||||||
of plan assets:
|
||||||||||||||||
Projected benefit
obligations
|
271.6 | 252.9 | N/A | N/A | ||||||||||||
Fair value of plan assets
|
236.6 | 164.6 | N/A | N/A |
2010
|
2011
|
2012
|
2013
|
2014
|
2015 - 2019 | |||||||||||||||||||
Pension
benefits
|
$ | 10.5 | $ | 11.0 | $ | 11.8 | $ | 12.7 | $ | 13.9 | $ | 89.6 | ||||||||||||
Other postretirement
benefits
|
7.3 | 7.4 | 7.4 | 7.5 | 8.0 | 46.3 | ||||||||||||||||||
Medicare
subsidies
|
(0.5 | ) | (0.6 | ) | (0.6 | ) | (0.7 | ) | (0.8 | ) | (4.8 | ) | ||||||||||||
$ | 17.3 | $ | 17.8 | $ | 18.6 | $ | 19.5 | $ | 21.1 | $ | 131.1 |
Fair
Value
|
||||||||||||||||
Measurements
|
||||||||||||||||
at Dec. 31,
2009
|
Level
1
|
Level
2
|
Level
3
|
|||||||||||||
Cash and
equivalents
|
$ | 11.0 | $ | 11.0 | $ | -- | $ | -- | ||||||||
Equity
securities:
|
||||||||||||||||
U.S. large cap core
|
31.8 | 31.8 | -- | -- | ||||||||||||
U.S. large cap value
|
26.6 | -- | 26.6 | -- | ||||||||||||
U.S. large cap growth
|
26.4 | -- | 26.4 | -- | ||||||||||||
U.S. small cap value
|
7.1 | -- | 7.1 | -- | ||||||||||||
U.S. small cap growth
|
4.2 | 4.2 | -- | -- | ||||||||||||
International - developed
markets
|
39.9 | 20.8 | 19.1 | -- | ||||||||||||
International - emerging
markets
|
12.0 | 12.0 | -- | -- | ||||||||||||
Fixed income
securities:
|
||||||||||||||||
Corporate bonds
|
18.9 | -- | 18.9 | -- | ||||||||||||
Government and agency
obligations
|
21.6 | -- | 21.6 | -- | ||||||||||||
Fixed income funds
|
40.0 | 0.5 | 39.5 | -- | ||||||||||||
Securities lending
invested collateral
|
7.6 | 2.0 | 4.6 | 1.0 | ||||||||||||
247.1 | $ | 82.3 | $ | 163.8 | $ | 1.0 | ||||||||||
Accrued investment
income
|
0.5 | |||||||||||||||
Due
to brokers, net (a)
|
(1.0 | ) | ||||||||||||||
Due
to borrowers for securities lending program
|
(10.0 | ) | ||||||||||||||
Total other postretirement plan
assets
|
$ | 236.6 |
Securities
Lending
|
||||
Invested
Collateral
|
||||
Beginning balance,
Jan. 1, 2009
|
$ | 2.2 | ||
Actual return on plan
assets:
|
||||
Relating to assets
still held at the reporting date
|
(0.1 | ) | ||
Relating to assets
sold during the period
|
0.1 | |||
Purchases, sales and settlements,
net
|
(1.3 | ) | ||
Transfers in and/or out of Level
3
|
0.1 | |||
Ending balance, Dec.
31, 2009
|
$ | 1.0 |
Fair
Value
|
||||||||||||||||
Measurements
|
||||||||||||||||
at Dec. 31,
2009
|
Level
1
|
Level
2
|
Level
3
|
|||||||||||||
Cash and
equivalents
|
$ | 5.0 | $ | 5.0 | $ | -- | $ | -- | ||||||||
Equity
securities:
|
||||||||||||||||
U.S. large cap core
|
1.1 | 1.1 | -- | -- | ||||||||||||
U.S. large cap value
|
0.9 | -- | 0.9 | -- | ||||||||||||
U.S. large cap growth
|
0.9 | -- | 0.9 | -- | ||||||||||||
U.S. small cap core
|
4.7 | 4.7 | -- | -- | ||||||||||||
U.S. small cap value
|
0.2 | -- | 0.2 | -- | ||||||||||||
U.S. small cap growth
|
0.1 | 0.1 | -- | -- | ||||||||||||
International - developed
markets
|
1.4 | 0.7 | 0.7 | -- | ||||||||||||
International - emerging
markets
|
0.4 | 0.4 | -- | -- | ||||||||||||
Fixed income
securities:
|
||||||||||||||||
Corporate bonds
|
1.3 | -- | 1.3 | -- | ||||||||||||
Government and agency
obligations
|
1.1 | -- | 1.1 | -- | ||||||||||||
Fixed income funds
|
1.8 | 0.4 | 1.4 | -- | ||||||||||||
Securities lending
invested collateral
|
0.2 | 0.1 | 0.1 | -- | ||||||||||||
19.1 | $ | 12.5 | $ | 6.6 | $ | -- | ||||||||||
Due
to borrowers for securities lending program
|
(0.3 | ) | ||||||||||||||
Total other postretirement plan
assets
|
$ | 18.8 |
Securities
Lending
|
||||
Invested
Collateral
|
||||
Beginning balance,
Jan. 1, 2009
|
$ | 0.1 | ||
Purchases, sales and settlements,
net
|
(0.1 | ) | ||
Ending balance, Dec.
31, 2009
|
$ | -- |
Ownership
|
Carrying
Value
|
|||||||||||||||||||||||
Interest
at
|
at Dec.
31,
|
Equity
Income
|
||||||||||||||||||||||
Dec. 31,
2009
|
2009
|
2008
|
2009
|
2008
|
2007
|
|||||||||||||||||||
ATC
(a)
|
16% | $ | 219 | $ | 195 | $ | (36 | ) | $ | (32 | ) | $ | (27 | ) | ||||||||||
Wisconsin River
Power Company
|
50% | 8 | 9 | (1 | ) | (2 | ) | (1 | ) | |||||||||||||||
$ | 227 | $ | 204 | $ | (37 | ) | $ | (34 | ) | $ | (28 | ) |
(a)
|
WPL has the ability
to exercise significant influence over ATC’s financial and operating
policies through its participation on ATC’s Board of
Directors.
|
2009
|
2008
|
2007
|
||||||||||
Operating revenues
|
$ | 529 | $ | 474 | $ | 416 | ||||||
Operating income
|
294 | 260 | 213 | |||||||||
Net income
|
215 | 192 | 157 | |||||||||
As
of Dec. 31:
|
||||||||||||
Current assets
|
54 | 53 | ||||||||||
Non-current assets
|
2,786 | 2,499 | ||||||||||
Current liabilities
|
286 | 253 | ||||||||||
Non-current liabilities
|
1,340 | 1,233 |
Fair
Value
|
||||||||||||||||
Measurements
|
Level
1
|
Level
2
|
Level
3
|
|||||||||||||
Dec. 31,
2009
|
||||||||||||||||
Derivative
assets
|
$ | 15.3 | $ | -- | $ | 11.5 | $ | 3.8 | ||||||||
Derivative
liabilities
|
66.3 | -- | 62.2 | 4.1 | ||||||||||||
Dec. 31,
2008
|
||||||||||||||||
Derivative
assets
|
19.6 | -- | 1.0 | 18.6 | ||||||||||||
Derivative
liabilities
|
14.8 | -- | 10.6 | 4.2 |
Derivative Assets
and
|
||||||||
Liabilities,
net
|
||||||||
2009
|
2008
|
|||||||
Beginning balance,
Jan. 1
|
$ | 14.4 | $ | 12.7 | ||||
Total gains or
(losses) (realized/unrealized) included in changes in net assets
(a)
|
(0.7 | ) | 20.6 | |||||
Purchases, sales,
issuances and settlements, net
|
(14.0 | ) | (18.9 | ) | ||||
Ending balance, Dec.
31
|
$ | (0.3 | ) | $ | 14.4 | |||
The
amount of total gains or (losses) for the period included in changes in
net
|
||||||||
assets attributable to the change in
unrealized gains or (losses) relating to assets
|
||||||||
and liabilities held at Dec. 31
(a)
|
$ | (0.7 | ) | $ | 14.4 |
(a)
|
Recorded in
“Regulatory assets” and “Regulatory liabilities” on WPL’s Consolidated
Balance Sheets.
|
Electric
|
Gas
|
Other
|
Total
|
|||||||||||||
2009
|
||||||||||||||||
Operating
revenues
|
$ | 1,160.3 | $ | 216.5 | $ | 9.3 | $ | 1,386.1 | ||||||||
Depreciation
and amortization
|
103.2 | 12.2 | -- | 115.4 | ||||||||||||
Operating
income (loss)
|
145.4 | 24.6 | (3.0 | ) | 167.0 | |||||||||||
Interest
expense, net of allowance for funds used
|
||||||||||||||||
during construction
(AFUDC)
|
69.1 | |||||||||||||||
Equity
income from unconsolidated investments
|
(37.0 | ) | -- | -- | (37.0 | ) | ||||||||||
Interest
income and other
|
(0.4 | ) | ||||||||||||||
Income
taxes
|
45.8 | |||||||||||||||
Net
income
|
89.5 | |||||||||||||||
Preferred
dividends
|
3.3 | |||||||||||||||
Earnings
available for common stock
|
86.2 | |||||||||||||||
Total
assets
|
2,891.0 | 341.7 | 448.7 | 3,681.4 | ||||||||||||
Investments
in equity method subsidiaries
|
227.1 | -- | -- | 227.1 | ||||||||||||
Construction
and acquisition expenditures
|
480.5 | 27.7 | 0.2 | 508.4 |
2008
|
||||||||||||||||
Operating
revenues
|
1,153.0
|
300.0
|
12.8
|
1,465.8
|
||||||||||||
Depreciation and
amortization
|
89.3
|
12.4
|
--
|
101.7
|
||||||||||||
Operating
income
|
167.1
|
35.6
|
2.2
|
204.9
|
||||||||||||
Interest expense,
net of AFUDC
|
52.6
|
|||||||||||||||
Equity income from
unconsolidated investments
|
(33.9)
|
--
|
--
|
(33.9)
|
||||||||||||
Interest income and
other
|
(0.6)
|
|||||||||||||||
Income
taxes
|
68.4
|
|||||||||||||||
Net
income
|
118.4
|
|||||||||||||||
Preferred
dividends
|
3.3
|
|||||||||||||||
Earnings available
for common stock
|
115.1
|
|||||||||||||||
Total
assets
|
2,492.5
|
367.1
|
405.9
|
3,265.5
|
||||||||||||
Investments in
equity method subsidiaries
|
203.6
|
--
|
--
|
203.6
|
||||||||||||
Construction and
acquisition expenditures
|
336.3
|
25.3
|
1.5
|
363.1
|
2007
|
||||||||||||||||
Operating
revenues
|
1,140.7
|
265.7
|
10.4
|
1,416.8
|
||||||||||||
Depreciation and
amortization
|
95.7
|
14.2
|
--
|
109.9
|
||||||||||||
Operating income
(loss)
|
157.7
|
37.9
|
(4.9)
|
190.7
|
||||||||||||
Interest expense,
net of AFUDC
|
47.0
|
|||||||||||||||
Equity income from
unconsolidated investments
|
(28.4)
|
--
|
--
|
(28.4)
|
||||||||||||
Interest income and
other
|
(0.7)
|
|||||||||||||||
Income
taxes
|
59.3
|
|||||||||||||||
Net
income
|
113.5
|
|||||||||||||||
Preferred
dividends
|
3.3
|
|||||||||||||||
Earnings available
for common stock
|
110.2
|
|||||||||||||||
Total
assets
|
2,215.5
|
341.1
|
232.0
|
2,788.6
|
||||||||||||
Investments in
equity method subsidiaries
|
182.0
|
--
|
--
|
182.0
|
||||||||||||
Construction and
acquisition expenditures
|
179.8
|
23.1
|
0.2
|
203.1
|
2009
|
2008
|
|||||||||||||||||||||||||||||||
March
31
|
June
30
|
Sep.
30
|
Dec.
31
|
March
31
|
June
30
|
Sep.
30
|
Dec.
31
|
|||||||||||||||||||||||||
(in
millions)
|
||||||||||||||||||||||||||||||||
Operating
revenues
|
$ | 411.3 | $ | 300.4 | $ | 326.6 | $ | 347.8 | $ | 420.8 | $ | 328.0 | $ | 353.9 | $ | 363.1 | ||||||||||||||||
Operating
income
|
52.1 | 25.7 | 41.5 | 47.7 | 54.4 | 36.3 | 69.6 | 44.6 | ||||||||||||||||||||||||
Net
income
|
31.3 | 11.6 | 21.0 | 25.6 | 31.1 | 20.4 | 42.6 | 24.3 | ||||||||||||||||||||||||
Earnings available
for common stock
|
30.5 | 10.7 | 20.2 | 24.8 | 30.3 | 19.5 | 41.8 | 23.5 |
CHANGES
IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
|
SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED
STOCKHOLDER MATTERS
|
(C)
|
||||||||||||
(A)
|
(B)
|
Number of
securities
|
||||||||||
Number of
securities
|
Weighted-average
|
remaining available
for
|
||||||||||
to be issued
upon
|
exercise price
of
|
future issuance
under
|
||||||||||
exercise
of
|
outstanding
|
equity compensation
plans
|
||||||||||
outstanding
options,
|
options,
warrants
|
(excluding
securities
|
||||||||||
Plan
Category
|
warrants and
rights
|
and
rights
|
reflected in column
(A))
|
|||||||||
Equity compensation
plans
|
||||||||||||
approved by
shareowners
|
783,289 | (a) | $ | 27.95 | 2,465,034 | (b) | ||||||
Equity compensation
plans not
|
||||||||||||
approved by
shareowners (c)
|
N/A | N/A | N/A | (d) | ||||||||
783,289 | $ | 27.95 | 2,465,034 |
(a)
|
Represents
performance shares and options to purchase shares of Alliant Energy’s
common stock granted under the Alliant Energy Long-Term Equity Incentive
Plan, as amended, and the Alliant Energy Amended and Restated 2002 Equity
Incentive Plan (EIP). The performance shares may be paid out in
shares of Alliant Energy’s common stock, cash, or a combination of cash
and stock and are adjusted by a performance multiplier, which ranges from
zero to 200%, based on the performance criteria. The
performance shares included in column (A) of the table reflect an assumed
payout in the form of Alliant Energy’s common stock at a performance
multiplier of 200%.
|
(b)
|
All of the available
shares under the EIP may be issued upon the exercise of stock options or
may be issued as awards in the form of stock appreciation rights,
restricted stock, restricted stock units, performance shares or
performance units. Excludes 351,356 shares of non-vested
restricted common stock previously issued and outstanding under the EIP at
Dec. 31, 2009.
|
(c)
|
As of Dec. 31, 2009,
there were 262,161 shares of Alliant Energy’s common stock outstanding
under the Alliant Energy Deferred Compensation Plan (DCP) described
below.
|
(d)
|
There is no limit on
the number of shares of Alliant Energy’s common stock that may be held
under the DCP.
|
2009
|
2008
|
|||||||||||||||
Fees
|
%
of Total
|
Fees
|
%
of Total
|
|||||||||||||
Audit
fees
|
$ | 941 | 51 | % | $ | 1,138 | 79 | % | ||||||||
Audit-related
fees
|
69 | 4 | % | 261 | 18 | % | ||||||||||
Tax
fees
|
811 | 44 | % | 21 | 2 | % | ||||||||||
All
other fees
|
9 | 1 | % | 13 | 1 | % | ||||||||||
$ | 1,830 | 100 | % | $ | 1,433 | 100 | % |
(1)
|
Consolidated
Financial Statements - Refer to Item 8 Financial Statements and
Supplementary Data.
|
(2)
|
Financial
Statement Schedules -
|
(3)
|
Exhibits
Required by SEC Regulation S-K - The following Exhibits are filed
herewith or incorporated herein by
reference.
|
3.1
|
Restated Articles of
Incorporation of Alliant Energy, as amended (incorporated by reference to
Exhibit 4.1 to Alliant Energy’s Registration Statement on Form S-8, dated
July 26, 2004 (Reg. No. 333-117654))
|
3.2
|
Restated Bylaws of
Alliant Energy, effective as of Dec. 6, 2006 (incorporated by reference to
Exhibit 3.1 to Alliant Energy’s Form 8-K, dated Dec. 6, 2006 (File No.
1-9894))
|
188
|
|
3.3
|
Restated Articles of
Incorporation of WPL, as amended (incorporated by reference to Exhibit 3.1
to WPL’s Form 10-Q for the quarter ended June 30, 1994 (File No.
0-337))
|
3.4
|
Restated Bylaws of
WPL, effective as of Dec. 6, 2006 (incorporated by reference to Exhibit
3.2 to WPL’s Form 8-K, dated Dec. 6, 2006 (File No.
0-337))
|
3.5
|
Restated Articles of
Incorporation of IPL (incorporated by reference to Exhibit 3.5 to IPL’s
Form 10-K for the year 2003 (File No. 0-4117-1))
|
3.6
|
Restated Bylaws of
IPL, effective as of Dec. 6, 2006 (incorporated by reference to Exhibit
3.3 to IPL’s Form 8-K, dated Dec. 6, 2006 (File No.
0-4117-1))
|
4.1
|
Second Amended and
Restated Five Year Credit Agreement, dated as of Nov. 7, 2006, among
Alliant Energy and the Banks set forth therein (incorporated by reference
to Exhibit 4.4 to Alliant Energy’s Registration Statement on Form S-3
(Reg. No. 333-162214))
|
4.2
|
First Amendment,
dated as of March 31, 2009, to Second Amended and Restated Five Year
Credit Agreement, dated Nov. 7, 2006, among Alliant Energy and the Banks
set forth therein (incorporated by reference to Exhibit 4.1 to Alliant
Energy’s Form 10-Q for the quarter ended March 31, 2009 (File No.
1-9894))
|
4.3
|
Senior Note
Indenture, dated as of Sep. 30, 2009, between Alliant Energy and Wells
Fargo Bank, N.A. (incorporated by reference to Exhibit 4.28 to Alliant
Energy’s Registration Statement on Form S-3 (Reg. No.
333-162214))
|
4.4
|
Officer’s
Certificate, dated as of Sep. 30, 2009, creating Alliant Energy’s 4.00%
senior notes due Oct. 15, 2014 (incorporated by reference to Exhibit 4.2
to Alliant Energy’s Form 8-K, dated Sep. 30, 2009 (File No.
1-9894))
|
4.5
|
Amended and Restated
Rights Agreement, dated as of Dec. 11, 2008, between Alliant Energy and
Wells Fargo Bank, N.A. (incorporated by reference to Exhibit 4.1 to
Alliant Energy’s Registration Statement on Form 8-A/A, dated Dec. 11, 2008
(File No. 1-9894))
|
4.6
|
Second Amended and
Restated Five Year Credit Agreement, dated as of Nov. 7, 2006, among WPL
and the Banks set forth therein (incorporated by reference to Exhibit 4.8
to Alliant Energy’s Registration Statement on Form S-3 (Reg. No.
333-162214))
|
4.7
|
First Amendment,
dated as of March 31, 2009, to Second Amended and Restated Five Year
Credit Agreement, dated Nov. 7, 2006, among WPL and the Banks set forth
therein (incorporated by reference to Exhibit 4.3 to WPL’s Form 10-Q for
the quarter ended March 31, 2009 (File No. 0-337))
|
4.8
|
Indenture, dated as
of June 20, 1997, between WPL and Wells Fargo Bank, N.A., Successor, as
Trustee (incorporated by reference to Exhibit 4.33 to Amendment No. 2 to
WPL’s Registration Statement on Form S-3 (Reg. No.
033-60917))
|
4.9
|
Officers’
Certificate, dated as of March 1, 2000, creating WPL’s 7-5/8% debentures
due March 1, 2010 (incorporated by reference to Exhibit 4 to WPL’s Form
8-K, dated March 1, 2000 (File No. 0-337))
|
4.10
|
Officers’
Certificate, dated as of July 28, 2004, creating WPL’s 6.25% debentures
due July 31, 2034 (incorporated by reference to Exhibit 4.1 to WPL’s Form
8-K, dated July 30, 2004 (File No. 0-337))
|
4.11
|
Officers’
Certificate, dated as of Aug. 8, 2007, creating WPL’s 6.375% debentures
due Aug. 15, 2037 (incorporated by reference to Exhibit 4.1 to WPL’s Form
8-K, dated Aug. 8, 2007 (File No. 0-337))
|
4.12
|
Officer’s
Certificate, dated as of Oct. 1, 2008, creating WPL’s 7.60% Debentures due
Oct. 1, 2038 (incorporated by reference to Exhibit 4.2 to WPL’s Form 8-K,
dated Oct. 1, 2008 (File No. 0-337))
|
4.13
|
Officers’
Certificate, dated as of July 7, 2009, creating WPL’s 5.00% Debentures due
July 15, 2019 (incorporated by reference to Exhibit 4.2 to WPL’s Form 8-K,
dated July 7, 2009 (File No. 0-337))
|
4.14
|
Second Amended and
Restated Five Year Credit Agreement, dated as of Nov. 7, 2006, among IPL
and the Banks set forth therein (incorporated by reference to Exhibit 4.16
to Alliant Energy’s Registration Statement on Form S-3 (Reg. No.
333-162214))
|
189
|
|
4.15
|
First Amendment,
dated as of March 31, 2009, to Second Amended and Restated Five Year
Credit Agreement, dated Nov. 7, 2006, among IPL and the Banks set forth
therein (incorporated by reference to Exhibit 4.2 to IPL’s Form 10-Q for
the quarter ended March 31, 2009 (File No. 0-4117-1))
|
4.16
|
Indenture (For
Senior Unsecured Debt Securities), dated as of Aug. 1, 1997, between IPL
and The Bank of New York Mellon Trust Co., N.A. (formerly known as (f/k/a)
The Bank of New York Trust Co., N.A.), successor, as Trustee (incorporated
by reference to Exhibit 4(j) to IPL’s Registration Statement on Form S-3
(Reg. No. 333-32097))
|
4.17
|
Indenture (For
Senior Unsecured Debt Securities), dated as of Aug. 20, 2003, between IPL
and The Bank of New York Mellon Trust Co., N.A. (f/k/a The Bank of New
York Trust Co., N.A.), as Trustee (incorporated by reference to Exhibit
4.11 to IPL’s Registration Statement on Form S-3 (Reg. No.
333-108199))
|
4.18
|
Officers’
Certificate, dated as of March 6, 2001, creating IPL’s 6-3/4% Senior
Debentures due March 15, 2011 (incorporated by reference to Exhibit 4 to
IPL’s Form 8-K, dated March 6, 2001 (File No.
0-4117-1))
|
4.19
|
Officer’s
Certificate, dated as of Sep. 10, 2003, creating IPL’s 5.875% Senior
Debentures due Sep. 15, 2018 (incorporated by reference to Exhibit 4.1 to
IPL’s Form 8-K, dated Sep. 10, 2003 (File No.
0-4117-1))
|
4.20
|
Officer’s
Certificate, dated as of Oct. 14, 2003, creating IPL’s 6.45% Senior
Debentures due Oct. 15, 2033 (incorporated by reference to Exhibit 4.1 to
IPL’s Form 8-K, dated Oct. 14, 2003 (File No.
0-4117-1))
|
4.21
|
Officer’s
Certificate, dated as of May 3, 2004, creating IPL’s 6.30% Senior
Debentures due May 1, 2034 (incorporated by reference to Exhibit 4.1 to
IPL’s Form 8-K, dated May 3, 2004 (File No. 0-4117-1))
|
4.21a
|
Officer’s
Certificate, dated as of Aug. 2, 2004, reopening IPL’s 6.30% Senior
Debentures due May 1, 2034 (incorporated by reference to Exhibit 4.1 to
IPL’s Form 8-K, dated Aug. 2, 2004 (File No. 0-4117-1))
|
4.22
|
Officer’s
Certificate, dated as of July 18, 2005, creating IPL’s 5.50% Senior
Debentures due July 15, 2025 (incorporated by reference to Exhibit 4 to
IPL’s Form 8-K, dated July 18, 2005 (File No.
0-4117-1))
|
4.23
|
Officer’s
Certificate, dated as of Oct. 1, 2008, creating IPL’s 7.25% Senior
Debentures due Oct. 1, 2018 (incorporated by reference to Exhibit 4.1 to
IPL’s Form 8-K, dated Oct. 1, 2008 (File No. 0-4117-1))
|
4.24
|
Officer’s
Certificate, dated as of July 7, 2009, creating IPL’s 6.25% Senior
Debentures due July 15, 2039 (incorporated by reference to Exhibit 4.1 to
IPL’s Form 8-K, dated July 7, 2009 (File No. 0-4117-1))
|
10.1
|
Operating Agreement
of ATC, dated as of Jan. 1, 2001 (incorporated by reference to Exhibit
10.16 to WPL’s Form 10-K for the year 2000 (File No.
0-337))
|
10.2
|
Master Supply
Agreement between Corporate Services, as agent for IPL and WPL, and
Vestas-American Wind Technology, Inc., dated as of June 1, 2008
(incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 10-Q
for the quarter ended June 30, 2008 (File No. 1-9894))
(a)
|
(a)
Portions of this exhibit have been redacted and are subject to
confidential treatment as filed with the Secretary of the SEC pursuant to
Rule 24b-2. The redacted material has been filed separately
with the SEC.
|
|
10.3#
|
Alliant Energy
Long-Term Equity Incentive Plan, as amended (incorporated by reference to
Exhibit 10.1 to Alliant Energy’s Form 10-Q for the quarter ended June 30,
1999 (File No. 1-9894))
|
10.4#
|
Alliant Energy
Amended and Restated 2002 Equity Incentive Plan (EIP) (incorporated by
reference to Appendix A to Alliant Energy’s definitive proxy statement
filed on Schedule 14A on April 5, 2006 (File No.
1-9894))
|
10.4a#
|
Form of
Non-qualified Stock Option Agreement pursuant to the Alliant Energy EIP
(incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 10-Q
for the quarter ended Sep. 30, 2004 (File No. 1-9894))
|
10.4b#
|
Form of Restricted
Stock Agreement pursuant to the Alliant Energy EIP (incorporated by
reference to Exhibit 10.2 to Alliant Energy’s Form 10-Q for the quarter
ended Sep. 30, 2004 (File No. 1-9894))
|
10.4c#
|
Form of 2009
Performance Share Agreement pursuant to the Alliant Energy EIP
(incorporated by reference to Exhibit 10.4c to Alliant Energy’s Form 10-K
for the year 2008 (File No. 1-9894))
|
10.4d#
|
Form of 2010
Performance Share Agreement pursuant to the Alliant Energy
EIP
|
190
|
|
10.4e#
|
Form of 2009
Performance Contingent Restricted Stock Agreement pursuant to the Alliant
Energy EIP (incorporated by reference to Exhibit 10.4d to Alliant Energy’s
Form 10-K for the year 2008 (File No. 1-9894))
|
10.4f#
|
Form of 2010
Performance Contingent Restricted Stock Agreement pursuant to the Alliant
Energy EIP
|
10.5#
|
Amendment to Change
Lapse of Forfeiture Restrictions on Restricted Stock by and between
Alliant Energy and Eliot G. Protsch
|
10.6#
|
Alliant Energy
Deferred Compensation Plan, as amended and restated effective Jan. 1, 2008
(incorporated by reference to Exhibit 10.1 to Alliant Energy’s Form 8-K,
dated Nov. 1, 2007 (File No. 1-9894))
|
10.7#
|
Alliant Energy Rabbi
Trust Agreement for Deferred Compensation Plans (incorporated by reference
to Exhibit 10.19 to Alliant Energy’s Form 10-K for the year 2005 (File No.
1-9894))
|
10.8#
|
Alliant Energy
Excess Retirement Plan (incorporated by reference to Exhibit 10.1 to
Alliant Energy’s Form 10-Q for the quarter ended Sep. 30, 2008 (File No.
1-9894))
|
10.9#
|
Form of Supplemental
Retirement Plan Agreement (SRP) by and between Alliant Energy and each of
W.D. Harvey and B.J. Swan (incorporated by reference to Exhibit 10.1 to
Alliant Energy’s Form 8-K, dated Dec. 10, 2008 (File No.
1-9894))
|
10.10#
|
Form of SRP by and
between Alliant Energy and each of T.L. Aller, T.L. Hanson, P.L. Kampling
and J.O. Larsen (incorporated by reference to Exhibit 10.3 to Alliant
Energy’s Form 8-K, dated Dec. 10, 2008 (File No.
1-9894))
|
10.11#
|
Form of SRP by and
between Alliant Energy and D.K. Doyle (incorporated by reference to
Exhibit 10.2 to Alliant Energy’s Form 8-K, dated Dec. 10, 2008 (File No.
1-9894))
|
10.12#
|
Form of Key
Executive Employment and Severance Agreement (KEESA), by and between
Alliant Energy and each of W.D. Harvey and B.J. Swan (incorporated by
reference to Exhibit 10.2 to Alliant Energy’s Form 10-Q for the quarter
ended June 30, 2008 (File No. 1-9894))
|
10.13#
|
Form of KEESA, by
and between Alliant Energy and each of T.L. Aller, D.K. Doyle, T.L.
Hanson, P.L. Kampling and J.O. Larsen (incorporated by reference to
Exhibit 10.3 to Alliant Energy’s Form 10-Q for the quarter ended June 30,
2008 (File No. 1-9894))
|
10.14#
|
Executive Severance
Benefit under the Alliant Energy Severance Plan Summary Plan Description,
effective March 19, 2008 (incorporated by reference to Exhibit 10.1 to
Alliant Energy’s Form 8-K, dated March 19, 2008 (File No.
1-9894))
|
10.15#
|
Summary of
Compensation and Benefits for Non-Employee Directors of Alliant Energy,
IPL and WPL, effective Jan. 1, 2010
|
10.16#
|
2010 Management
Incentive Compensation Plan Summary (incorporated by reference to Exhibit
10.1 to Alliant Energy’s Form 8-K, dated Feb. 10, 2010 (File No.
1-9894))
|
12.1
|
Ratio of Earnings to
Fixed Charges for Alliant Energy
|
12.2
|
Ratio of Earnings to
Fixed Charges and Ratio of Earnings to Combined Fixed Charges and
Preferred Dividend Requirements for IPL
|
12.3
|
Ratio of Earnings to
Fixed Charges and Ratio of Earnings to Combined Fixed Charges and
Preferred Dividend Requirements for WPL
|
21.1
|
Subsidiaries of
Alliant Energy
|
21.2
|
Subsidiaries of
WPL
|
23.1
|
Consent of
Independent Registered Public Accounting Firm for Alliant
Energy
|
23.2
|
Consent of
Independent Registered Public Accounting Firm for IPL
|
23.3
|
Consent of
Independent Registered Public Accounting Firm for WPL
|
23.4
|
Consent of
Independent Registered Public Accounting Firm for American Transmission
Company LLC
|
31.1
|
Certification of the
Chairman, President and CEO for Alliant Energy
|
191
|
|
31.2
|
Certification of the
Executive Vice President-CFO and Treasurer for Alliant
Energy
|
31.3
|
Certification of the
Chairman and CEO for IPL
|
31.4
|
Certification of the
Executive Vice President-CFO and Treasurer for IPL
|
31.5
|
Certification of the
Chairman and CEO for WPL
|
31.6
|
Certification of the
Executive Vice President-CFO and Treasurer for WPL
|
32.1
|
Written Statement of
the CEO and CFO Pursuant to 18 U.S.C.§1350 for Alliant
Energy
|
32.2
|
Written Statement of
the CEO and CFO Pursuant to 18 U.S.C.§1350 for IPL
|
32.3
|
Written Statement of
the CEO and CFO Pursuant to 18 U.S.C.§1350 for WPL
|
99.1
|
Financial Statements
of American Transmission Company
LLC
|
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Operating
revenues
|
$ | 1 | $ | 1 | $ | -- | ||||||
Operating
expenses
|
6 | 1 | 2 | |||||||||
Operating
loss
|
(5 | ) | -- | (2 | ) | |||||||
Interest
expense and other:
|
||||||||||||
Equity earnings from
consolidated subsidiaries
|
(235 | ) | (279 | ) | (421 | ) | ||||||
Loss on early
extinguishment of debt
|
203 | -- | -- | |||||||||
Interest
expense
|
12 | 1 | 1 | |||||||||
Interest
income
|
(1 | ) | (12 | ) | (8 | ) | ||||||
Total interest
expense and other
|
(21 | ) | (290 | ) | (428 | ) | ||||||
Income
before income taxes
|
16 | 290 | 426 | |||||||||
Income
tax expense (benefit)
|
(95 | ) | 2 | 1 | ||||||||
Net
income
|
$ | 111 | $ | 288 | $ | 425 |
December
31,
|
||||||||
2009
|
2008
|
|||||||
(in
millions)
|
||||||||
ASSETS
|
||||||||
Current
assets:
|
||||||||
Cash and cash
equivalents
|
$ | 75 | $ | 242 | ||||
Notes receivable
from affiliated companies
|
106 | 70 | ||||||
Income tax refunds
receivable
|
28 | 19 | ||||||
Other
|
2 | -- | ||||||
211 | 331 | |||||||
Investments:
|
||||||||
Investments in
consolidated subsidiaries
|
2,841 | 2,653 | ||||||
Other
|
17 | 17 | ||||||
2,858 | 2,670 | |||||||
Other
assets
|
4 | 6 | ||||||
Total
assets
|
$ | 3,073 | $ | 3,007 | ||||
CAPITALIZATION
AND LIABILITIES
|
||||||||
Capitalization:
|
||||||||
Common stock and
additional paid-in capital
|
$ | 1,500 | $ | 1,496 | ||||
Retained
earnings
|
1,279 | 1,334 | ||||||
Accumulated other
comprehensive loss
|
(1 | ) | (1 | ) | ||||
Shares in deferred
compensation trust
|
(8 | ) | (7 | ) | ||||
Total common
equity
|
2,770 | 2,822 | ||||||
Long-term debt, net
(excluding current portion)
|
249 | 39 | ||||||
3,019 | 2,861 | |||||||
Current
liabilities
|
5 | 6 | ||||||
Other
long-term liabilities and deferred credits:
|
||||||||
Deferred income
taxes
|
46 | 138 | ||||||
Other
|
3 | 2 | ||||||
49 | 140 | |||||||
Total
capitalization and liabilities
|
$ | 3,073 | $ | 3,007 |
Year Ended December
31,
|
||||||||||||
2009
|
2008
|
2007
|
||||||||||
(in
millions)
|
||||||||||||
Net
cash flows from operating activities
|
$ | 70 | $ | 100 | $ | 404 | ||||||
Cash
flows from (used for) investing activities:
|
||||||||||||
Capital
contributions to consolidated subsidiaries
|
(250 | ) | (300 | ) | (100 | ) | ||||||
Capital repayments
from consolidated subsidiaries
|
206 | 75 | -- | |||||||||
Dividends from
consolidated subsidiaries in excess of equity earnings
|
5 | -- | 416 | |||||||||
Net
cash flows from (used for) investing activities
|
(39 | ) | (225 | ) | 316 | |||||||
Cash
flows used for financing activities:
|
||||||||||||
Common stock
dividends
|
(166 | ) | (154 | ) | (143 | ) | ||||||
Proceeds from
issuance of long-term debt
|
250 | -- | -- | |||||||||
Payments to retire
long-term debt
|
(241 | ) | -- | -- | ||||||||
Net
change in notes receivable from affiliates
|
(36 | ) | (70 | ) | 109 | |||||||
Repurchase of common
stock
|
(1 | ) | (2 | ) | (297 | ) | ||||||
Proceeds from
issuance of common stock
|
1 | 1 | 34 | |||||||||
Other
|
(5 | ) | 3 | (1 | ) | |||||||
Net
cash flows used for financing activities
|
(198 | ) | (222 | ) | (298 | ) | ||||||
Net
increase (decrease) in cash and cash equivalents
|
(167 | ) | (347 | ) | 422 | |||||||
Cash
and cash equivalents at beginning of period
|
242 | 589 | 167 | |||||||||
Cash
and cash equivalents at end of period
|
$ | 75 | $ | 242 | $ | 589 | ||||||
Supplemental
Cash Flows Information:
|
||||||||||||
Cash paid (refunded)
during the period for:
|
||||||||||||
Interest, net of
capitalized interest
|
$ | 11 | $ | 12 | $ | 1 | ||||||
Income taxes, net of
refunds
|
8 | 25 | (8 | ) | ||||||||
Noncash investing
and financing activities:
|
||||||||||||
Subsidiary debt
assumed by Alliant Energy
|
-- | 39 | -- |
Additions
|
||||||||
Balance,
|
Charged
to
|
Charged to
Other
|
Balance,
|
|||||
Description
|
Jan.
1
|
Expense
|
Accounts
(a)
|
Deductions
(b)
|
Dec.
31
|
|||
(in
millions)
|
Accumulated
Provision for Uncollectible Accounts:
|
||||||||||||||||||||
Alliant Energy
Corporation
|
||||||||||||||||||||
Year ended Dec. 31,
2009
|
$ | 7.2 | $ | 8.9 | $ | 2.4 | $ | 12.4 | $ | 6.1 | ||||||||||
Year ended Dec. 31,
2008
|
4.4 | 10.0 | 1.2 | 8.4 | 7.2 | |||||||||||||||
Year ended Dec. 31,
2007
|
4.0 | 7.6 | 1.6 | 8.8 | 4.4 | |||||||||||||||
Interstate Power and
Light Company
|
||||||||||||||||||||
Year ended Dec. 31,
2009
|
$ | 4.2 | $ | 8.2 | $ | -- | $ | 9.9 | $ | 2.5 | ||||||||||
Year ended Dec. 31,
2008
|
1.9 | 9.7 | -- | 7.4 | 4.2 | |||||||||||||||
Year ended Dec. 31,
2007
|
2.0 | 6.6 | -- | 6.7 | 1.9 | |||||||||||||||
Wisconsin Power and
Light Company
|
||||||||||||||||||||
Year ended Dec. 31,
2009
|
$ | 1.8 | $ | 0.1 | $ | 2.4 | $ | 2.3 | $ | 2.0 | ||||||||||
Year ended Dec. 31,
2008
|
1.4 | 0.1 | 1.2 | 0.9 | 1.8 | |||||||||||||||
Year ended Dec. 31,
2007
|
1.6 | 0.2 | 1.6 | 2.0 | 1.4 |
Accumulated
Provision for Other Reserves (c):
|
||||||||||||||||||||
Alliant Energy
Corporation
|
||||||||||||||||||||
Year ended Dec. 31,
2009
|
$ | 17.9 | $ | 12.6 | $ | -- | $ | 7.6 | $ | 22.9 | ||||||||||
Year ended Dec. 31,
2008
|
16.4 | 9.1 | -- | 7.6 | 17.9 | |||||||||||||||
Year ended Dec. 31,
2007
|
14.5 | 6.4 | -- | 4.5 | 16.4 | |||||||||||||||
Interstate Power and
Light Company
|
||||||||||||||||||||
Year ended Dec. 31,
2009
|
$ | 7.1 | $ | 3.6 | $ | -- | $ | 1.7 | $ | 9.0 | ||||||||||
Year ended Dec. 31,
2008
|
7.1 | 3.5 | -- | 3.5 | 7.1 | |||||||||||||||
Year ended Dec. 31,
2007
|
8.0 | 2.4 | -- | 3.3 | 7.1 | |||||||||||||||
Wisconsin Power and
Light Company
|
||||||||||||||||||||
Year ended Dec. 31,
2009
|
$ | 7.1 | $ | 6.5 | $ | -- | $ | 2.9 | $ | 10.7 | ||||||||||
Year ended Dec. 31,
2008
|
6.9 | 2.8 | -- | 2.6 | 7.1 | |||||||||||||||
Year ended Dec. 31,
2007
|
5.0 | 2.2 | -- | 0.3 | 6.9 |
(a)
|
Accumulated
provision for uncollectible accounts: In accordance with its
regulatory treatment, certain amounts provided by Wisconsin Power and
Light Company are recorded in regulatory
assets.
|
(b)
|
Deductions are of
the nature for which the reserves were created. In the case of
the accumulated provision for uncollectible accounts, deductions from this
reserve are reduced by recoveries of amounts previously written
off.
|
(c)
|
Other reserves are
largely related to injury and damage claims arising in the ordinary course
of business.
|
ALLIANT
ENERGY CORPORATION
|
By:
/s/
|
William D.
Harvey
|
|
William D.
Harvey
|
||
Chairman, President
and Chief Executive Officer
|
/s/
|
William D.
Harvey
|
Chairman, President,
Chief Executive Officer and Director (Principal Executive
Officer)
|
|
William D.
Harvey
|
|||
/s/
|
Patricia L.
Kampling
|
Executive Vice
President-Chief Financial Officer and Treasurer (Principal Financial
Officer)
|
|
Patricia L.
Kampling
|
|||
/s/
|
Thomas L.
Hanson
|
Vice
President-Controller and Chief Accounting Officer (Principal Accounting
Officer)
|
|
Thomas L.
Hanson
|
/s/
|
Michael L.
Bennett
|
Director
|
/s/
|
Ann
K. Newhall
|
Director
|
/s/
|
Judith D.
Pyle
|
Director
|
|||||
Michael L.
Bennett
|
Ann
K. Newhall
|
Judith D.
Pyle
|
|||||||||||
/s/
|
Darryl B.
Hazel
|
Director
|
/s/
|
Dean C.
Oestreich
|
Director
|
/s/
|
Carol P.
Sanders
|
Director
|
|||||
Darryl B.
Hazel
|
Dean C.
Oestreich
|
Carol P.
Sanders
|
|||||||||||
/s/
|
Singleton B.
McAllister
|
Director
|
/s/
|
David A.
Perdue
|
Director
|
||||||||
Singleton B.
McAllister
|
David A.
Perdue
|
INTERSTATE
POWER AND LIGHT COMPANY
|
By:
/s/
|
William D.
Harvey
|
|
William D.
Harvey
|
||
Chairman and Chief
Executive Officer
|
/s/
|
William D.
Harvey
|
Chairman, Chief
Executive Officer and Director (Principal Executive
Officer)
|
|
William D.
Harvey
|
|||
/s/
|
Patricia L.
Kampling
|
Executive Vice
President-Chief Financial Officer and Treasurer (Principal Financial
Officer)
|
|
Patricia L.
Kampling
|
|||
/s/
|
Thomas L.
Hanson
|
Vice
President-Controller and Chief Accounting Officer (Principal Accounting
Officer)
|
|
Thomas L.
Hanson
|
/s/
|
Michael L.
Bennett
|
Director
|
/s/
|
Ann
K. Newhall
|
Director
|
/s/
|
Judith D.
Pyle
|
Director
|
|||||
Michael L.
Bennett
|
Ann
K. Newhall
|
Judith D.
Pyle
|
|||||||||||
/s/
|
Darryl B.
Hazel
|
Director
|
/s/
|
Dean C.
Oestreich
|
Director
|
/s/
|
Carol P.
Sanders
|
Director
|
|||||
Darryl B.
Hazel
|
Dean C.
Oestreich
|
Carol P.
Sanders
|
|||||||||||
/s/
|
Singleton B.
McAllister
|
Director
|
/s/
|
David A.
Perdue
|
Director
|
||||||||
Singleton B.
McAllister
|
David A.
Perdue
|
WISCONSIN
POWER AND LIGHT COMPANY
|
By:
/s/
|
William D.
Harvey
|
|
William D.
Harvey
|
||
Chairman and Chief
Executive Officer
|
/s/
|
William D.
Harvey
|
Chairman, Chief
Executive Officer and Director (Principal Executive
Officer)
|
|
William D.
Harvey
|
|||
/s/
|
Patricia L.
Kampling
|
Executive Vice
President-Chief Financial Officer and Treasurer (Principal Financial
Officer)
|
|
Patricia L.
Kampling
|
|||
/s/
|
Thomas L.
Hanson
|
Vice
President-Controller and Chief Accounting Officer (Principal Accounting
Officer)
|
|
Thomas L.
Hanson
|
/s/
|
Michael L.
Bennett
|
Director
|
/s/
|
Ann
K. Newhall
|
Director
|
/s/
|
Judith D.
Pyle
|
Director
|
|||||
Michael L.
Bennett
|
Ann
K. Newhall
|
Judith D.
Pyle
|
|||||||||||
/s/
|
Darryl B.
Hazel
|
Director
|
/s/
|
Dean C.
Oestreich
|
Director
|
/s/
|
Carol P.
Sanders
|
Director
|
|||||
Darryl B.
Hazel
|
Dean C.
Oestreich
|
Carol P.
Sanders
|
|||||||||||
/s/
|
Singleton B.
McAllister
|
Director
|
/s/
|
David A.
Perdue
|
Director
|
||||||||
Singleton B.
McAllister
|
David A.
Perdue
|
Exhibit
|
|
Number
|
Description
|
10.4d
|
Form of 2010
Performance Share Agreement pursuant to the Alliant Energy
EIP
|
10.4f
|
Form of 2010
Performance Contingent Restricted Stock Agreement pursuant to the Alliant
Energy EIP
|
10.5
|
Amendment
to Change Lapse of Forfeiture Restrictions on Restricted Stock by and
between Alliant Energy and Eliot G. Protsch
|
10.15
|
Summary of
Compensation and Benefits for Non-Employee Directors of Alliant Energy,
IPL and WPL, effective Jan. 1, 2010
|
12.1
|
Ratio of
Earnings to Fixed Charges for Alliant Energy
|
12.2
|
Ratio of
Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges
and Preferred Dividend Requirements for IPL
|
12.3
|
Ratio of
Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges
and Preferred Dividend Requirements for WPL
|
21.1
|
Subsidiaries
of Alliant Energy
|
21.2
|
Subsidiaries
of WPL
|
23.1
|
Consent
of Independent Registered Public Accounting Firm for Alliant
Energy
|
23.2
|
Consent of
Independent Registered Public Accounting Firm for IPL
|
23.3
|
Consent of
Independent Registered Public Accounting Firm for WPL
|
23.4
|
Consent of
Independent Registered Public Accounting Firm for American Transmission
Company LLC
|
31.1
|
Certification
of the Chairman, President and CEO for Alliant Energy
|
31.2
|
Certification
of the Executive Vice President-CFO and Treasurer for Alliant
Energy
|
31.3
|
Certification
of the Chairman and CEO for IPL
|
31.4
|
Certification
of the Executive Vice President-CFO and Treasurer for
IPL
|
31.5
|
Certification
of the Chairman and CEO for WPL
|
31.6
|
Certification
of the Executive Vice President-CFO and Treasurer for
WPL
|
32.1
|
Written
Statement of the CEO and CFO Pursuant to 18 U.S.C.§1350 for Alliant
Energy
|
32.2
|
Written
Statement of the CEO and CFO Pursuant to 18 U.S.C.§1350 for
IPL
|
32.3
|
Written
Statement of the CEO and CFO Pursuant to 18 U.S.C.§1350 for
WPL
|
99.1
|
Financial
Statements of American Transmission Company
LLC
|