☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission File Number | Name of Registrant, State of Incorporation, Address of Principal Executive Offices and Telephone Number | IRS Employer Identification Number | ||
1-9894 | ALLIANT ENERGY CORPORATION | 39-1380265 | ||
(a Wisconsin corporation) | ||||
4902 N. Biltmore Lane | ||||
Madison, Wisconsin 53718 | ||||
Telephone (608) 458-3311 | ||||
1-4117 | INTERSTATE POWER AND LIGHT COMPANY | 42-0331370 | ||
(an Iowa corporation) | ||||
Alliant Energy Tower | ||||
Cedar Rapids, Iowa 52401 | ||||
Telephone (319) 786-4411 | ||||
0-337 | WISCONSIN POWER AND LIGHT COMPANY | 39-0714890 | ||
(a Wisconsin corporation) | ||||
4902 N. Biltmore Lane | ||||
Madison, Wisconsin 53718 | ||||
Telephone (608) 458-3311 |
Large Accelerated Filer | Accelerated Filer | Non-accelerated Filer | Smaller Reporting Company | Emerging Growth Company | |||||
Alliant Energy Corporation | ☒ | ||||||||
Interstate Power and Light Company | ☒ | ||||||||
Wisconsin Power and Light Company | ☒ |
Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | |
Alliant Energy Corporation | Common Stock, $0.01 Par Value | LNT | Nasdaq Global Select Market |
Interstate Power and Light Company | 5.100% Series D Cumulative Perpetual Preferred Stock, $0.01 Par Value | IPLDP | Nasdaq Global Select Market |
Alliant Energy Corporation | Common stock, $0.01 par value, 237,394,409 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 | |
Abbreviation or Acronym | Definition | Abbreviation or Acronym | Definition |
2018 Form 10-K | Combined Annual Report on Form 10-K filed by Alliant Energy, IPL and WPL for the year ended Dec. 31, 2018 | Fuel-related | Electric production fuel and purchased power |
AEF | Alliant Energy Finance, LLC | GAAP | U.S. generally accepted accounting principles |
Alliant Energy | Alliant Energy Corporation | IPL | Interstate Power and Light Company |
ATC | American Transmission Company LLC | IUB | Iowa Utilities Board |
ATC Holdings | Interest in American Transmission Company LLC and ATC Holdco LLC | MDA | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
Corporate Services | Alliant Energy Corporate Services, Inc. | MISO | Midcontinent Independent System Operator, Inc. |
DAEC | Duane Arnold Energy Center | MWh | Megawatt-hour |
Dth | Dekatherm | N/A | Not applicable |
EGU | Electric generating unit | Note(s) | Combined Notes to Condensed Consolidated Financial Statements |
EPA | U.S. Environmental Protection Agency | OPEB | Other postretirement benefits |
EPS | Earnings per weighted average common share | PPA | Purchased power agreement |
Federal Tax Reform | Tax Cuts and Jobs Act | U.S. | United States of America |
Financial Statements | Condensed Consolidated Financial Statements | Whiting Petroleum | Whiting Petroleum Corporation |
FTR | Financial transmission right | WPL | Wisconsin Power and Light Company |
• | IPL’s and WPL’s ability to obtain adequate and timely rate relief to allow for, among other things, the recovery of and/or the return on costs, including fuel costs, operating costs, transmission costs, environmental compliance and remediation costs, deferred expenditures, deferred tax assets, tax expense, capital expenditures, and remaining costs related to EGUs that may be permanently closed, earning their authorized rates of return, and the payments to their parent of expected levels of dividends; |
• | federal and state regulatory or governmental actions, including the impact of energy, tax, financial and health care legislation, and regulatory agency orders; |
• | the impact of customer- and third party-owned generation, including alternative electric suppliers, in IPL’s and WPL’s service territories on system reliability, operating expenses and customers’ demand for electricity; |
• | the impact of energy efficiency, franchise retention and customer disconnects on sales volumes and margins; |
• | the impact that price changes may have on IPL’s and WPL’s customers’ demand for electric, gas and steam services and their ability to pay their bills; |
• | the ability to utilize tax credits and net operating losses generated to date, and those that may be generated in the future, before they expire; |
• | the direct or indirect effects resulting from terrorist incidents, including physical attacks and cyber attacks, or responses to such incidents; |
• | the impact of penalties or third-party claims related to, or in connection with, a failure to maintain the security of personally identifiable information, including associated costs to notify affected persons and to mitigate their information security concerns; |
• | employee workforce factors, including changes in key executives, ability to hire and retain employees with specialized skills, ability to create desired corporate culture, collective bargaining agreements and negotiations, work stoppages or restructurings; |
• | weather effects on results of utility operations; |
1 |
• | issues associated with environmental remediation and environmental compliance, including compliance with all environmental and emissions permits, the Coal Combustion Residuals Rule, future changes in environmental laws and regulations, including the EPA’s regulations for carbon dioxide emissions reductions from new and existing fossil-fueled EGUs, and litigation associated with environmental requirements; |
• | the ability to defend against environmental claims brought by state and federal agencies, such as the EPA, state natural resources agencies or third parties, such as the Sierra Club, and the impact on operating expenses of defending and resolving such claims; |
• | continued access to the capital markets on competitive terms and rates, and the actions of credit rating agencies; |
• | inflation and interest rates; |
• | the impact of the economy in IPL’s and WPL’s service territories and the resulting impacts on sales volumes, margins and the ability to collect unpaid bills; |
• | the ability to complete construction of wind projects within the cost caps set by regulators and to meet all requirements to qualify for the full level of production tax credits; |
• | changes in the price of delivered natural gas, purchased electricity and coal due to shifts in supply and demand caused by market conditions and regulations; |
• | disruptions in the supply and delivery of natural gas, purchased electricity and coal; |
• | changes in the price of transmission services and the ability to recover the cost of transmission services in a timely manner; |
• | the direct or indirect effects resulting from breakdown or failure of equipment in the operation of electric and gas distribution systems, such as mechanical problems and explosions or fires, and compliance with electric and gas transmission and distribution safety regulations; |
• | issues related to the availability and operations of EGUs, including start-up risks, breakdown or failure of equipment, performance below expected or contracted levels of output or efficiency, operator error, employee safety, transmission constraints, compliance with mandatory reliability standards and risks related to recovery of resulting incremental costs through rates; |
• | impacts that storms or natural disasters may have on Alliant Energy’s, IPL’s and WPL’s operations and recovery of costs associated with restoration activities, or on the operations of Alliant Energy’s investments; |
• | any material post-closing adjustments related to any past asset divestitures, including the sales of IPL’s Minnesota electric and natural gas assets, and Whiting Petroleum, which could result from, among other things, indemnification agreements, warranties, parental guarantees or litigation; |
• | Alliant Energy’s ability to sustain its dividend payout ratio goal; |
• | changes to costs of providing benefits and related funding requirements of pension and OPEB plans due to the market value of the assets that fund the plans, economic conditions, financial market performance, interest rates, life expectancies and demographics; |
• | material changes in employee-related benefit and compensation costs; |
• | risks associated with operation and ownership of non-utility holdings; |
• | changes in technology that alter the channels through which customers buy or utilize Alliant Energy’s, IPL’s or WPL’s products and services; |
• | impacts on equity income from unconsolidated investments due to further potential changes to ATC’s authorized return on equity; |
• | impacts of IPL’s future tax benefits from Iowa rate-making practices, including deductions for repairs expenditures, allocation of mixed service costs and state depreciation, and recoverability of the associated regulatory assets from customers, when the differences reverse in future periods; |
• | the impacts of adjustments made to deferred tax assets and liabilities from changes in the tax laws; |
• | changes to the creditworthiness of counterparties with which Alliant Energy, IPL and WPL have contractual arrangements, including participants in the energy markets and fuel suppliers and transporters; |
• | current or future litigation, regulatory investigations, proceedings or inquiries; |
• | reputational damage from negative publicity, protests, fines, penalties and other negative consequences resulting in regulatory and/or legal actions; |
• | the effect of accounting standards issued periodically by standard-setting bodies; |
• | the ability to successfully complete tax audits and changes in tax accounting methods with no material impact on earnings and cash flows; and |
• | factors listed in MDA and Risk Factors in Item 1A in the 2018 Form 10-K. |
2 |
For the Three Months | |||||||
Ended March 31, | |||||||
2019 | 2018 | ||||||
(in millions, except per share amounts) | |||||||
Revenues: | |||||||
Electric utility | $743.4 | $708.7 | |||||
Gas utility | 215.8 | 185.6 | |||||
Other utility | 11.1 | 13.2 | |||||
Non-utility | 16.9 | 8.8 | |||||
Total revenues | 987.2 | 916.3 | |||||
Operating expenses: | |||||||
Electric production fuel and purchased power | 218.4 | 203.2 | |||||
Electric transmission service | 123.0 | 126.4 | |||||
Cost of gas sold | 121.6 | 111.2 | |||||
Other operation and maintenance | 181.2 | 162.4 | |||||
Depreciation and amortization | 136.9 | 120.4 | |||||
Taxes other than income taxes | 29.3 | 27.0 | |||||
Total operating expenses | 810.4 | 750.6 | |||||
Operating income | 176.8 | 165.7 | |||||
Other (income) and deductions: | |||||||
Interest expense | 66.3 | 59.2 | |||||
Equity income from unconsolidated investments, net | (10.9 | ) | (21.3 | ) | |||
Allowance for funds used during construction | (25.4 | ) | (14.9 | ) | |||
Other | 4.0 | 2.4 | |||||
Total other (income) and deductions | 34.0 | 25.4 | |||||
Income before income taxes | 142.8 | 140.3 | |||||
Income taxes | 15.1 | 16.8 | |||||
Net income | 127.7 | 123.5 | |||||
Preferred dividend requirements of Interstate Power and Light Company | 2.6 | 2.6 | |||||
Net income attributable to Alliant Energy common shareowners | $125.1 | $120.9 | |||||
Weighted average number of common shares outstanding (basic) | 236.5 | 231.4 | |||||
Weighted average number of common shares outstanding (diluted) | 236.6 | 231.4 | |||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted) | $0.53 | $0.52 |
3 |
March 31, 2019 | December 31, 2018 | ||||||
(in millions, except per share and share amounts) | |||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $10.1 | $20.9 | |||||
Accounts receivable, less allowance for doubtful accounts | 417.9 | 350.4 | |||||
Production fuel, at weighted average cost | 47.0 | 61.4 | |||||
Gas stored underground, at weighted average cost | 15.9 | 49.0 | |||||
Materials and supplies, at weighted average cost | 105.1 | 101.4 | |||||
Regulatory assets | 65.8 | 79.8 | |||||
Other | 153.4 | 122.2 | |||||
Total current assets | 815.2 | 785.1 | |||||
Property, plant and equipment, net | 12,665.2 | 12,462.4 | |||||
Investments: | |||||||
ATC Holdings | 295.0 | 293.6 | |||||
Other | 138.6 | 137.7 | |||||
Total investments | 433.6 | 431.3 | |||||
Other assets: | |||||||
Regulatory assets | 1,726.6 | 1,657.5 | |||||
Deferred charges and other | 72.8 | 89.7 | |||||
Total other assets | 1,799.4 | 1,747.2 | |||||
Total assets | $15,713.4 | $15,426.0 |
LIABILITIES AND EQUITY | |||||||
Current liabilities: | |||||||
Current maturities of long-term debt | $256.5 | $256.5 | |||||
Commercial paper | 514.7 | 441.2 | |||||
Accounts payable | 387.7 | 543.3 | |||||
Regulatory liabilities | 179.8 | 142.7 | |||||
Other | 249.0 | 260.4 | |||||
Total current liabilities | 1,587.7 | 1,644.1 | |||||
Long-term debt, net (excluding current portion) | 5,362.2 | 5,246.3 | |||||
Other liabilities: | |||||||
Deferred tax liabilities | 1,642.0 | 1,603.1 | |||||
Regulatory liabilities | 1,302.6 | 1,350.5 | |||||
Pension and other benefit obligations | 493.6 | 509.1 | |||||
Other | 442.9 | 287.2 | |||||
Total other liabilities | 3,881.1 | 3,749.9 | |||||
Commitments and contingencies (Note 14) | |||||||
Equity: | |||||||
Alliant Energy Corporation common equity: | |||||||
Common stock - $0.01 par value - 480,000,000 shares authorized; 237,394,409 and 236,063,279 shares outstanding | 2.4 | 2.4 | |||||
Additional paid-in capital | 2,100.0 | 2,045.5 | |||||
Retained earnings | 2,587.3 | 2,545.9 | |||||
Accumulated other comprehensive income | 2.4 | 1.7 | |||||
Shares in deferred compensation trust - 375,542 and 384,580 shares at a weighted average cost of $25.93 and $25.60 per share | (9.7 | ) | (9.8 | ) | |||
Total Alliant Energy Corporation common equity | 4,682.4 | 4,585.7 | |||||
Cumulative preferred stock of Interstate Power and Light Company | 200.0 | 200.0 | |||||
Total equity | 4,882.4 | 4,785.7 | |||||
Total liabilities and equity | $15,713.4 | $15,426.0 |
4 |
For the Three Months | |||||||
Ended March 31, | |||||||
2019 | 2018 | ||||||
(in millions) | |||||||
Cash flows from operating activities: | |||||||
Net income | $127.7 | $123.5 | |||||
Adjustments to reconcile net income to net cash flows from operating activities: | |||||||
Depreciation and amortization | 136.9 | 120.4 | |||||
Deferred tax expense and tax credits | 21.7 | 17.6 | |||||
Other | (10.1 | ) | (14.8 | ) | |||
Other changes in assets and liabilities: | |||||||
Accounts receivable | (121.6 | ) | (80.6 | ) | |||
Gas stored underground | 33.1 | 28.2 | |||||
Accounts payable | (42.7 | ) | (59.6 | ) | |||
Regulatory liabilities | 14.1 | 34.2 | |||||
Other | 22.0 | (12.6 | ) | ||||
Net cash flows from operating activities | 181.1 | 156.3 | |||||
Cash flows used for investing activities: | |||||||
Construction and acquisition expenditures: | |||||||
Utility business | (374.0 | ) | (335.2 | ) | |||
Other | (32.1 | ) | (20.3 | ) | |||
Cash receipts on sold receivables | 53.4 | 217.3 | |||||
Other | (12.1 | ) | (14.0 | ) | |||
Net cash flows used for investing activities | (364.8 | ) | (152.2 | ) | |||
Cash flows from (used for) financing activities: | |||||||
Common stock dividends | (83.7 | ) | (77.5 | ) | |||
Proceeds from issuance of common stock, net | 54.6 | 6.3 | |||||
Net change in commercial paper | 188.5 | 62.1 | |||||
Other | 16.6 | (0.7 | ) | ||||
Net cash flows from (used for) financing activities | 176.0 | (9.8 | ) | ||||
Net decrease in cash, cash equivalents and restricted cash | (7.7 | ) | (5.7 | ) | |||
Cash, cash equivalents and restricted cash at beginning of period | 25.5 | 33.9 | |||||
Cash, cash equivalents and restricted cash at end of period | $17.8 | $28.2 | |||||
Supplemental cash flows information: | |||||||
Cash (paid) refunded during the period for: | |||||||
Interest, net of capitalized interest | ($62.9 | ) | ($54.2 | ) | |||
Income taxes, net | $6.8 | $— | |||||
Significant non-cash investing and financing activities: | |||||||
Accrued capital expenditures | $167.5 | $144.9 | |||||
Beneficial interest obtained in exchange for securitized accounts receivable | $178.3 | $120.9 |
5 |
For the Three Months | |||||||
Ended March 31, | |||||||
2019 | 2018 | ||||||
(in millions) | |||||||
Revenues: | |||||||
Electric utility | $419.8 | $405.7 | |||||
Gas utility | 124.6 | 108.1 | |||||
Steam and other | 10.7 | 12.0 | |||||
Total revenues | 555.1 | 525.8 | |||||
Operating expenses: | |||||||
Electric production fuel and purchased power | 128.9 | 114.6 | |||||
Electric transmission service | 87.7 | 90.8 | |||||
Cost of gas sold | 63.3 | 60.6 | |||||
Other operation and maintenance | 108.0 | 105.5 | |||||
Depreciation and amortization | 77.1 | 64.8 | |||||
Taxes other than income taxes | 16.6 | 13.9 | |||||
Total operating expenses | 481.6 | 450.2 | |||||
Operating income | 73.5 | 75.6 | |||||
Other (income) and deductions: | |||||||
Interest expense | 29.4 | 29.8 | |||||
Allowance for funds used during construction | (15.8 | ) | (7.4 | ) | |||
Other | 1.9 | 0.8 | |||||
Total other (income) and deductions | 15.5 | 23.2 | |||||
Income before income taxes | 58.0 | 52.4 | |||||
Income taxes | 2.1 | 3.1 | |||||
Net income | 55.9 | 49.3 | |||||
Preferred dividend requirements | 2.6 | 2.6 | |||||
Earnings available for common stock | $53.3 | $46.7 |
6 |
March 31, 2019 | December 31, 2018 | ||||||
(in millions, except per share and share amounts) | |||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $3.9 | $9.7 | |||||
Accounts receivable, less allowance for doubtful accounts | 209.5 | 153.5 | |||||
Production fuel, at weighted average cost | 31.2 | 44.8 | |||||
Gas stored underground, at weighted average cost | 5.4 | 26.1 | |||||
Materials and supplies, at weighted average cost | 56.9 | 55.4 | |||||
Regulatory assets | 27.0 | 39.2 | |||||
Other | 21.3 | 43.1 | |||||
Total current assets | 355.2 | 371.8 | |||||
Property, plant and equipment, net | 6,947.9 | 6,781.5 | |||||
Other assets: | |||||||
Regulatory assets | 1,324.4 | 1,239.8 | |||||
Deferred charges and other | 19.5 | 18.3 | |||||
Total other assets | 1,343.9 | 1,258.1 | |||||
Total assets | $8,647.0 | $8,411.4 |
LIABILITIES AND EQUITY | |||||||
Current liabilities: | |||||||
Commercial paper | $— | $50.4 | |||||
Accounts payable | 227.3 | 304.9 | |||||
Regulatory liabilities | 107.3 | 90.0 | |||||
Other | 150.3 | 161.8 | |||||
Total current liabilities | 484.9 | 607.1 | |||||
Long-term debt, net | 2,667.8 | 2,552.3 | |||||
Other liabilities: | |||||||
Deferred tax liabilities | 970.9 | 957.3 | |||||
Regulatory liabilities | 641.5 | 664.9 | |||||
Pension and other benefit obligations | 174.6 | 178.4 | |||||
Other | 365.3 | 220.7 | |||||
Total other liabilities | 2,152.3 | 2,021.3 | |||||
Commitments and contingencies (Note 14) | |||||||
Equity: | |||||||
Interstate Power and Light Company common equity: | |||||||
Common stock - $2.50 par value - 24,000,000 shares authorized; 13,370,788 shares outstanding | 33.4 | 33.4 | |||||
Additional paid-in capital | 2,322.8 | 2,222.8 | |||||
Retained earnings | 785.8 | 774.5 | |||||
Total Interstate Power and Light Company common equity | 3,142.0 | 3,030.7 | |||||
Cumulative preferred stock | 200.0 | 200.0 | |||||
Total equity | 3,342.0 | 3,230.7 | |||||
Total liabilities and equity | $8,647.0 | $8,411.4 |
7 |
For the Three Months | |||||||
Ended March 31, | |||||||
2019 | 2018 | ||||||
(in millions) | |||||||
Cash flows from operating activities: | |||||||
Net income | $55.9 | $49.3 | |||||
Adjustments to reconcile net income to net cash flows from operating activities: | |||||||
Depreciation and amortization | 77.1 | 64.8 | |||||
Other | (10.1 | ) | — | ||||
Other changes in assets and liabilities: | |||||||
Accounts receivable | (112.6 | ) | (99.7 | ) | |||
Gas stored underground | 20.7 | 16.7 | |||||
Accounts payable | (15.0 | ) | (34.3 | ) | |||
Regulatory liabilities | 17.4 | 21.7 | |||||
Other | 43.3 | (16.7 | ) | ||||
Net cash flows from operating activities | 76.7 | 1.8 | |||||
Cash flows used for investing activities: | |||||||
Construction and acquisition expenditures | (261.3 | ) | (218.2 | ) | |||
Cash receipts on sold receivables | 53.4 | 217.3 | |||||
Other | (13.9 | ) | (10.5 | ) | |||
Net cash flows used for investing activities | (221.8 | ) | (11.4 | ) | |||
Cash flows from financing activities: | |||||||
Common stock dividends | (42.0 | ) | (41.9 | ) | |||
Capital contributions from parent | 100.0 | — | |||||
Net change in commercial paper | 64.6 | 45.9 | |||||
Other | 17.0 | 4.9 | |||||
Net cash flows from financing activities | 139.6 | 8.9 | |||||
Net decrease in cash, cash equivalents and restricted cash | (5.5 | ) | (0.7 | ) | |||
Cash, cash equivalents and restricted cash at beginning of period | 12.4 | 7.2 | |||||
Cash, cash equivalents and restricted cash at end of period | $6.9 | $6.5 | |||||
Supplemental cash flows information: | |||||||
Cash (paid) refunded during the period for: | |||||||
Interest | ($36.0 | ) | ($28.2 | ) | |||
Income taxes, net | $6.8 | $— | |||||
Significant non-cash investing and financing activities: | |||||||
Accrued capital expenditures | $106.6 | $68.3 | |||||
Beneficial interest obtained in exchange for securitized accounts receivable | $178.3 | $120.9 |
8 |
For the Three Months | |||||||
Ended March 31, | |||||||
2019 | 2018 | ||||||
(in millions) | |||||||
Revenues: | |||||||
Electric utility | $323.6 | $303.0 | |||||
Gas utility | 91.2 | 77.5 | |||||
Other | 0.4 | 1.2 | |||||
Total revenues | 415.2 | 381.7 | |||||
Operating expenses: | |||||||
Electric production fuel and purchased power | 89.5 | 88.6 | |||||
Electric transmission service | 35.3 | 35.6 | |||||
Cost of gas sold | 58.3 | 50.6 | |||||
Other operation and maintenance | 63.5 | 56.3 | |||||
Depreciation and amortization | 58.6 | 54.6 | |||||
Taxes other than income taxes | 11.9 | 12.0 | |||||
Total operating expenses | 317.1 | 297.7 | |||||
Operating income | 98.1 | 84.0 | |||||
Other (income) and deductions: | |||||||
Interest expense | 25.8 | 24.7 | |||||
Allowance for funds used during construction | (9.6 | ) | (7.5 | ) | |||
Other | 1.6 | 1.1 | |||||
Total other (income) and deductions | 17.8 | 18.3 | |||||
Income before income taxes | 80.3 | 65.7 | |||||
Income taxes | 14.6 | 11.7 | |||||
Earnings available for common stock | $65.7 | $54.0 |
9 |
March 31, 2019 | December 31, 2018 | ||||||
(in millions, except per share and share amounts) | |||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $3.4 | $8.7 | |||||
Accounts receivable, less allowance for doubtful accounts | 198.7 | 190.1 | |||||
Production fuel, at weighted average cost | 15.8 | 16.6 | |||||
Gas stored underground, at weighted average cost | 10.5 | 22.9 | |||||
Materials and supplies, at weighted average cost | 45.3 | 42.9 | |||||
Regulatory assets | 38.8 | 40.6 | |||||
Other | 103.5 | 62.8 | |||||
Total current assets | 416.0 | 384.6 | |||||
Property, plant and equipment, net | 5,322.8 | 5,287.3 | |||||
Other assets: | |||||||
Regulatory assets | 402.2 | 417.7 | |||||
Deferred charges and other | 24.0 | 62.9 | |||||
Total other assets | 426.2 | 480.6 | |||||
Total assets | $6,165.0 | $6,152.5 |
LIABILITIES AND EQUITY | |||||||
Current liabilities: | |||||||
Current maturities of long-term debt | $250.0 | $250.0 | |||||
Commercial paper | 138.4 | 105.5 | |||||
Accounts payable | 104.5 | 180.9 | |||||
Regulatory liabilities | 72.5 | 52.7 | |||||
Other | 112.5 | 105.5 | |||||
Total current liabilities | 677.9 | 694.6 | |||||
Long-term debt, net (excluding current portion) | 1,585.4 | 1,584.9 | |||||
Other liabilities: | |||||||
Deferred tax liabilities | 601.0 | 582.0 | |||||
Regulatory liabilities | 661.1 | 685.6 | |||||
Finance lease obligations - Sheboygan Falls Energy Facility | 57.9 | 60.0 | |||||
Pension and other benefit obligations | 214.2 | 217.7 | |||||
Other | 188.3 | 178.2 | |||||
Total other liabilities | 1,722.5 | 1,723.5 | |||||
Commitments and contingencies (Note 14) | |||||||
Equity: | |||||||
Wisconsin Power and Light Company common equity: | |||||||
Common stock - $5 par value - 18,000,000 shares authorized; 13,236,601 shares outstanding | 66.2 | 66.2 | |||||
Additional paid-in capital | 1,309.0 | 1,309.0 | |||||
Retained earnings | 804.0 | 774.3 | |||||
Total Wisconsin Power and Light Company common equity | 2,179.2 | 2,149.5 | |||||
Total liabilities and equity | $6,165.0 | $6,152.5 |
10 |
For the Three Months | |||||||
Ended March 31, | |||||||
2019 | 2018 | ||||||
(in millions) | |||||||
Cash flows from operating activities: | |||||||
Net income | $65.7 | $54.0 | |||||
Adjustments to reconcile net income to net cash flows from operating activities: | |||||||
Depreciation and amortization | 58.6 | 54.6 | |||||
Deferred tax expense and tax credits | 14.8 | 6.7 | |||||
Other | (2.0 | ) | (4.7 | ) | |||
Other changes in assets and liabilities: | |||||||
Accounts receivable | (10.3 | ) | 18.7 | ||||
Accounts payable | (28.7 | ) | (23.0 | ) | |||
Other | 24.1 | 35.4 | |||||
Net cash flows from operating activities | 122.2 | 141.7 | |||||
Cash flows used for investing activities: | |||||||
Construction and acquisition expenditures | (112.7 | ) | (117.0 | ) | |||
Other | (7.6 | ) | (11.7 | ) | |||
Net cash flows used for investing activities | (120.3 | ) | (128.7 | ) | |||
Cash flows used for financing activities: | |||||||
Common stock dividends | (36.0 | ) | (35.0 | ) | |||
Net change in commercial paper | 32.9 | 5.6 | |||||
Other | (3.3 | ) | (1.9 | ) | |||
Net cash flows used for financing activities | (6.4 | ) | (31.3 | ) | |||
Net decrease in cash, cash equivalents and restricted cash | (4.5 | ) | (18.3 | ) | |||
Cash, cash equivalents and restricted cash at beginning of period | 9.2 | 24.2 | |||||
Cash, cash equivalents and restricted cash at end of period | $4.7 | $5.9 | |||||
Supplemental cash flows information: | |||||||
Cash paid during the period for: | |||||||
Interest | ($22.5 | ) | ($21.5 | ) | |||
Significant non-cash investing and financing activities: | |||||||
Accrued capital expenditures | $57.3 | $73.9 |
11 |
12 |
Alliant Energy | IPL | WPL | |||||||||||||||||||||
March 31, 2019 | December 31, 2018 | March 31, 2019 | December 31, 2018 | March 31, 2019 | December 31, 2018 | ||||||||||||||||||
Tax-related | $802.9 | $820.6 | $770.2 | $783.1 | $32.7 | $37.5 | |||||||||||||||||
Pension and OPEB costs | 532.6 | 542.3 | 269.3 | 274.0 | 263.3 | 268.3 | |||||||||||||||||
Asset retirement obligations | 112.1 | 110.8 | 77.5 | 76.3 | 34.6 | 34.5 | |||||||||||||||||
EGUs retired early | 107.3 | 111.6 | 53.6 | 55.4 | 53.7 | 56.2 | |||||||||||||||||
IPL’s DAEC PPA amendment | 106.5 | — | 106.5 | — | — | — | |||||||||||||||||
Emission allowances | 23.0 | 23.6 | 23.0 | 23.6 | — | — | |||||||||||||||||
Derivatives | 16.9 | 28.0 | 8.0 | 15.1 | 8.9 | 12.9 | |||||||||||||||||
Other | 91.1 | 100.4 | 43.3 | 51.5 | 47.8 | 48.9 | |||||||||||||||||
$1,792.4 | $1,737.3 | $1,351.4 | $1,279.0 | $441.0 | $458.3 |
Alliant Energy | IPL | WPL | |||||||||||||||||||||
March 31, 2019 | December 31, 2018 | March 31, 2019 | December 31, 2018 | March 31, 2019 | December 31, 2018 | ||||||||||||||||||
Tax-related | $858.1 | $890.6 | $366.2 | $390.1 | $491.9 | $500.5 | |||||||||||||||||
Cost of removal obligations | 402.7 | 401.2 | 273.4 | 273.3 | 129.3 | 127.9 | |||||||||||||||||
Electric transmission cost recovery | 104.8 | 104.0 | 53.0 | 47.7 | 51.8 | 56.3 | |||||||||||||||||
Commodity cost recovery | 43.2 | 16.8 | 32.2 | 11.9 | 11.0 | 4.9 | |||||||||||||||||
WPL’s earnings sharing mechanism | 25.0 | 25.4 | — | — | 25.0 | 25.4 | |||||||||||||||||
Other | 48.6 | 55.2 | 24.0 | 31.9 | 24.6 | 23.3 | |||||||||||||||||
$1,482.4 | $1,493.2 | $748.8 | $754.9 | $733.6 | $738.3 |
13 |
2019 | 2018 | ||||||
Maximum outstanding aggregate cash proceeds | $108.0 | $116.0 | |||||
Average outstanding aggregate cash proceeds | 81.0 | 61.1 |
March 31, 2019 | December 31, 2018 | ||||||
Customer accounts receivable | $169.9 | $140.1 | |||||
Unbilled utility revenues | 86.8 | 97.1 | |||||
Other receivables | 0.1 | 0.1 | |||||
Receivables sold to third party | 256.8 | 237.3 | |||||
Less: cash proceeds | 69.0 | 108.0 | |||||
Deferred proceeds | 187.8 | 129.3 | |||||
Less: allowance for doubtful accounts | 9.5 | 9.9 | |||||
Fair value of deferred proceeds | $178.3 | $119.4 |
2019 | 2018 | ||||||
Collections | $555.8 | $517.0 | |||||
Write-offs, net of recoveries | 5.5 | 6.1 |
2019 | 2018 | ||||||
ATC Holdings | ($9.5 | ) | ($8.7 | ) | |||
Non-utility wind farm in Oklahoma | (1.1 | ) | (12.1 | ) | |||
Other | (0.3 | ) | (0.5 | ) | |||
($10.9 | ) | ($21.3 | ) |
Shares outstanding, January 1, 2019 | 236,063,279 | |
Equity forward agreements | 1,090,300 | |
Shareowner Direct Plan issuances | 142,090 | |
Equity-based compensation plans | 101,478 | |
Other | (2,738 | ) |
Shares outstanding, March 31, 2019 | 237,394,409 |
14 |
Alliant Energy | Total Alliant Energy Common Equity | ||||||||||||||||||||||||||
Accumulated | Shares in | Cumulative | |||||||||||||||||||||||||
Additional | Other | Deferred | Preferred | ||||||||||||||||||||||||
Common | Paid-In | Retained | Comprehensive | Compensation | Stock | Total | |||||||||||||||||||||
Stock | Capital | Earnings | Income (Loss) | Trust | of IPL | Equity | |||||||||||||||||||||
Three Months Ended March 31, 2019 | |||||||||||||||||||||||||||
Beginning balance, January 1 | $2.4 | $2,045.5 | $2,545.9 | $1.7 | ($9.8 | ) | $200.0 | $4,785.7 | |||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 125.1 | 125.1 | |||||||||||||||||||||||||
Common stock dividends ($0.355 per share) | (83.7 | ) | (83.7 | ) | |||||||||||||||||||||||
Equity forward settlements and Shareowner Direct Plan issuances | 54.6 | 54.6 | |||||||||||||||||||||||||
Equity-based compensation plans and other | (0.1 | ) | 0.1 | — | |||||||||||||||||||||||
Other comprehensive income, net of tax | 0.7 | 0.7 | |||||||||||||||||||||||||
Ending balance, March 31 | $2.4 | $2,100.0 | $2,587.3 | $2.4 | ($9.7 | ) | $200.0 | $4,882.4 | |||||||||||||||||||
Three Months Ended March 31, 2018 | |||||||||||||||||||||||||||
Beginning balance, January 1 | $2.3 | $1,845.5 | $2,346.0 | ($0.5 | ) | ($11.1 | ) | $200.0 | $4,382.2 | ||||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 120.9 | 120.9 | |||||||||||||||||||||||||
Common stock dividends ($0.335 per share) | (77.5 | ) | (77.5 | ) | |||||||||||||||||||||||
Shareowner Direct Plan issuances | 6.3 | 6.3 | |||||||||||||||||||||||||
Equity-based compensation plans | (0.4 | ) | (0.4 | ) | |||||||||||||||||||||||
Ending balance, March 31 | $2.3 | $1,851.4 | $2,389.4 | ($0.5 | ) | ($11.1 | ) | $200.0 | $4,431.5 |
IPL | Total IPL Common Equity | ||||||||||||||||||
Additional | Cumulative | ||||||||||||||||||
Common | Paid-In | Retained | Preferred | Total | |||||||||||||||
Stock | Capital | Earnings | Stock | Equity | |||||||||||||||
Three Months Ended March 31, 2019 | |||||||||||||||||||
Beginning balance, January 1 | $33.4 | $2,222.8 | $774.5 | $200.0 | $3,230.7 | ||||||||||||||
Earnings available for common stock | 53.3 | 53.3 | |||||||||||||||||
Common stock dividends | (42.0 | ) | (42.0 | ) | |||||||||||||||
Capital contribution from parent | 100.0 | 100.0 | |||||||||||||||||
Ending balance, March 31 | $33.4 | $2,322.8 | $785.8 | $200.0 | $3,342.0 | ||||||||||||||
Three Months Ended March 31, 2018 | |||||||||||||||||||
Beginning balance, January 1 | $33.4 | $1,797.8 | $678.5 | $200.0 | $2,709.7 | ||||||||||||||
Earnings available for common stock | 46.7 | 46.7 | |||||||||||||||||
Common stock dividends | (41.9 | ) | (41.9 | ) | |||||||||||||||
Ending balance, March 31 | $33.4 | $1,797.8 | $683.3 | $200.0 | $2,714.5 |
15 |
WPL | Additional | Total | |||||||||||||
Common | Paid-In | Retained | Common | ||||||||||||
Stock | Capital | Earnings | Equity | ||||||||||||
Three Months Ended March 31, 2019 | |||||||||||||||
Beginning balance, January 1 | $66.2 | $1,309.0 | $774.3 | $2,149.5 | |||||||||||
Earnings available for common stock | 65.7 | 65.7 | |||||||||||||
Common stock dividends | (36.0 | ) | (36.0 | ) | |||||||||||
Ending balance, March 31 | $66.2 | $1,309.0 | $804.0 | $2,179.2 | |||||||||||
Three Months Ended March 31, 2018 | |||||||||||||||
Beginning balance, January 1 | $66.2 | $1,109.0 | $706.3 | $1,881.5 | |||||||||||
Earnings available for common stock | 54.0 | 54.0 | |||||||||||||
Common stock dividends | (35.0 | ) | (35.0 | ) | |||||||||||
Ending balance, March 31 | $66.2 | $1,109.0 | $725.3 | $1,900.5 |
March 31, 2019 | Alliant Energy | IPL | WPL | ||
Commercial paper outstanding | $514.7 | $— | $138.4 | ||
Commercial paper weighted average interest rates | 2.6% | N/A | 2.5% | ||
Available credit facility capacity (a) | $370.3 | $135.0 | $161.6 |
Alliant Energy | IPL | WPL | |||||||||
Three Months Ended March 31 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | |||||
Maximum amount outstanding (based on daily outstanding balances) | $600.6 | $336.4 | $50.4 | $3.0 | $195.1 | $36.7 | |||||
Average amount outstanding (based on daily outstanding balances) | $498.8 | $310.1 | $0.6 | $— | $138.1 | $11.5 | |||||
Weighted average interest rates | 2.7% | 1.9% | 2.8% | 1.8% | 2.5% | 1.6% |
(a) | Alliant Energy’s and IPL’s available credit facility capacities reflect outstanding commercial paper classified as both short- and long-term debt at March 31, 2019. |
16 |
Alliant Energy | IPL | WPL | |||||||||
March 31, 2019 | |||||||||||
Property, plant and equipment, net | $18 | $10 | $7 | ||||||||
Other current liabilities | $3 | $1 | $1 | ||||||||
Other liabilities | 15 | 9 | 6 | ||||||||
Total operating lease liabilities | $18 | $10 | $7 | ||||||||
Three Months Ended March 31, 2019 | |||||||||||
Operating lease cost | $1 | $— | $— | ||||||||
Weighted average remaining lease term | 12 years | 13 years | 10 years | ||||||||
Weighted average discount rate | 4 | % | 4 | % | 4 | % |
March 31, 2019 | |||
Property, plant and equipment, net | $37 | ||
Other current liabilities | $8 | ||
Finance lease obligations - Sheboygan Falls Energy Facility | 58 | ||
Total finance lease liabilities | $66 | ||
Three Months Ended March 31, 2019 | |||
Depreciation expense | $1 | ||
Interest expense | 2 | ||
Total finance lease expense | $3 | ||
Remaining lease term | 6 years | ||
Discount rate | 11 | % |
Remainder of 2019 | 2020 | 2021 | 2022 | 2023 | Thereafter | Total | Less: amount representing interest | Present value of minimum lease payments | |||||||||||||||||||||||||||
Operating Leases: | |||||||||||||||||||||||||||||||||||
Alliant Energy | $2 | $2 | $2 | $2 | $2 | $13 | $23 | $5 | $18 | ||||||||||||||||||||||||||
IPL | 1 | 1 | 1 | 1 | 1 | 9 | 14 | 4 | 10 | ||||||||||||||||||||||||||
WPL | 1 | 1 | 1 | 1 | 1 | 3 | 8 | 1 | 7 | ||||||||||||||||||||||||||
WPL’s Finance Lease: | |||||||||||||||||||||||||||||||||||
Sheboygan Falls Energy Facility | 11 | 15 | 15 | 15 | 15 | 20 | 91 | 25 | 66 |
2019 | 2020 | 2021 | 2022 | 2023 | Thereafter | Total | Less: amount representing interest | Present value of minimum capital lease payments | |||||||||||||||||||||||||||
Operating Leases: | |||||||||||||||||||||||||||||||||||
Alliant Energy | $5 | $5 | $3 | $3 | $2 | $12 | $30 | ||||||||||||||||||||||||||||
IPL | 3 | 2 | 2 | 2 | 2 | 12 | 23 | ||||||||||||||||||||||||||||
WPL | 2 | 3 | 1 | — | — | — | 6 | ||||||||||||||||||||||||||||
WPL’s Capital Lease: | |||||||||||||||||||||||||||||||||||
Sheboygan Falls Energy Facility | $15 | $15 | $15 | $15 | $15 | $19 | $94 | $26 | $68 |
17 |
Alliant Energy | IPL | WPL | |||||||||||||||||||||
Three Months Ended March 31 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | |||||||||||||||||
Electric Utility: | |||||||||||||||||||||||
Retail - residential | $274.7 | $259.4 | $147.5 | $142.2 | $127.2 | $117.2 | |||||||||||||||||
Retail - commercial | 181.1 | 174.0 | 116.6 | 111.6 | 64.5 | 62.4 | |||||||||||||||||
Retail - industrial | 208.7 | 201.9 | 116.1 | 114.8 | 92.6 | 87.1 | |||||||||||||||||
Wholesale | 46.5 | 53.8 | 16.9 | 24.3 | 29.6 | 29.5 | |||||||||||||||||
Bulk power and other | 32.4 | 19.6 | 22.7 | 12.8 | 9.7 | 6.8 | |||||||||||||||||
Total Electric Utility | 743.4 | 708.7 | 419.8 | 405.7 | 323.6 | 303.0 | |||||||||||||||||
Gas Utility: | |||||||||||||||||||||||
Retail - residential | 131.8 | 110.6 | 77.9 | 65.5 | 53.9 | 45.1 | |||||||||||||||||
Retail - commercial | 63.6 | 57.0 | 34.8 | 31.6 | 28.8 | 25.4 | |||||||||||||||||
Retail - industrial | 5.4 | 5.8 | 3.2 | 2.7 | 2.2 | 3.1 | |||||||||||||||||
Transportation/other | 15.0 | 12.2 | 8.7 | 8.3 | 6.3 | 3.9 | |||||||||||||||||
Total Gas Utility | 215.8 | 185.6 | 124.6 | 108.1 | 91.2 | 77.5 | |||||||||||||||||
Other Utility: | |||||||||||||||||||||||
Steam | 8.4 | 9.4 | 8.4 | 9.4 | — | — | |||||||||||||||||
Other utility | 2.7 | 3.8 | 2.3 | 2.6 | 0.4 | 1.2 | |||||||||||||||||
Total Other Utility | 11.1 | 13.2 | 10.7 | 12.0 | 0.4 | 1.2 | |||||||||||||||||
Non-Utility and Other: | |||||||||||||||||||||||
Transportation and other | 16.9 | 8.8 | — | — | — | — | |||||||||||||||||
Total Non-Utility and Other | 16.9 | 8.8 | — | — | — | — | |||||||||||||||||
Total revenues | $987.2 | $916.3 | $555.1 | $525.8 | $415.2 | $381.7 |
Alliant Energy | IPL | WPL | |||||||||||||||
Three Months Ended March 31 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | |||||||||||
Statutory federal income tax rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | |||||
State income taxes, net of federal benefits | 6.7 | 7.5 | 7.2 | 8.5 | 6.2 | 6.2 | |||||||||||
Production tax credits | (9.2 | ) | (5.5 | ) | (14.0 | ) | (5.4 | ) | (4.9 | ) | (6.7 | ) | |||||
Effect of rate-making on property-related differences | (5.6 | ) | (7.4 | ) | (9.2 | ) | (13.5 | ) | (2.3 | ) | (2.4 | ) | |||||
Amortization of excess deferred taxes | (0.9 | ) | (0.4 | ) | (0.2 | ) | — | (1.4 | ) | (0.1 | ) | ||||||
IPL’s tax benefit riders | (0.7 | ) | (2.2 | ) | (1.5 | ) | (4.7 | ) | — | — | |||||||
Other items, net | (0.7 | ) | (1.0 | ) | 0.3 | — | (0.4 | ) | (0.2 | ) | |||||||
Overall income tax rate | 10.6 | % | 12.0 | % | 3.6 | % | 5.9 | % | 18.2 | % | 17.8 | % |
Range of Expiration Dates | Alliant Energy | IPL | WPL | ||||||||||
Federal net operating losses | 2031-2039 | $776 | $551 | $129 | |||||||||
State net operating losses | 2019-2039 | 785 | 13 | 2 | |||||||||
Federal tax credits | 2022-2039 | 307 | 138 | 151 |
18 |
Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||
Alliant Energy | 2019 | 2018 | 2019 | 2018 | |||||||||||
Service cost | $2.4 | $3.0 | $0.8 | $1.1 | |||||||||||
Interest cost | 12.5 | 11.7 | 2.1 | 1.9 | |||||||||||
Expected return on plan assets | (15.0 | ) | (17.4 | ) | (1.2 | ) | (1.5 | ) | |||||||
Amortization of prior service credit | (0.2 | ) | (0.2 | ) | — | — | |||||||||
Amortization of actuarial loss | 9.1 | 8.8 | 0.8 | 0.8 | |||||||||||
$8.8 | $5.9 | $2.5 | $2.3 |
Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||
IPL | 2019 | 2018 | 2019 | 2018 | |||||||||||
Service cost | $1.5 | $1.8 | $0.3 | $0.4 | |||||||||||
Interest cost | 5.7 | 5.3 | 0.8 | 0.8 | |||||||||||
Expected return on plan assets | (7.0 | ) | (8.1 | ) | (0.9 | ) | (1.1 | ) | |||||||
Amortization of prior service credit | (0.1 | ) | — | — | — | ||||||||||
Amortization of actuarial loss | 3.9 | 3.7 | 0.4 | 0.3 | |||||||||||
$4.0 | $2.7 | $0.6 | $0.4 |
Defined Benefit Pension Plans | OPEB Plans | ||||||||||||||
WPL | 2019 | 2018 | 2019 | 2018 | |||||||||||
Service cost | $0.9 | $1.1 | $0.3 | $0.4 | |||||||||||
Interest cost | 5.4 | 5.0 | 0.8 | 0.8 | |||||||||||
Expected return on plan assets | (6.5 | ) | (7.6 | ) | (0.1 | ) | (0.2 | ) | |||||||
Amortization of prior service credit | (0.1 | ) | — | — | — | ||||||||||
Amortization of actuarial loss | 4.4 | 4.3 | 0.4 | 0.5 | |||||||||||
$4.1 | $2.8 | $1.4 | $1.5 |
Alliant Energy | IPL | WPL | |||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | 2019 | 2018 | ||||||||||||||||||
Compensation expense | $4.7 | $3.3 | $2.6 | $1.8 | $1.8 | $1.3 | |||||||||||||||||
Income tax benefits | 1.3 | 0.9 | 0.8 | 0.5 | 0.5 | 0.4 |
19 |
Alliant Energy | IPL | ||||||
Balance, January 1 | $177.5 | $118.3 | |||||
Liabilities settled | (0.7 | ) | (0.6 | ) | |||
Liabilities incurred (a) | 25.9 | 25.9 | |||||
Accretion expense | 1.6 | 1.0 | |||||
Balance, March 31 | $204.3 | $144.6 |
(a) | During the three months ended March 31, 2019, Alliant Energy and IPL recognized additional asset retirement obligations related to IPL’s newly constructed Upland Prairie and English Farms wind sites. The increases in asset retirement obligations resulted in corresponding increases in property, plant and equipment, net on the respective balance sheets. |
FTRs | Natural Gas | Coal | Diesel Fuel | ||||||||||||||||
MWhs | Years | Dths | Years | Tons | Years | Gallons | Years | ||||||||||||
Alliant Energy | 3,903 | 2019 | 158,337 | 2019-2026 | 10,042 | 2019-2021 | 2,268 | 2019 | |||||||||||
IPL | 2,378 | 2019 | 68,345 | 2019-2026 | 4,429 | 2019-2021 | — | — | |||||||||||
WPL | 1,525 | 2019 | 89,992 | 2019-2026 | 5,613 | 2019-2021 | 2,268 | 2019 |
Alliant Energy | IPL | WPL | |||||||||||||||||||||
March 31, 2019 | December 31, 2018 | March 31, 2019 | December 31, 2018 | March 31, 2019 | December 31, 2018 | ||||||||||||||||||
Current derivative assets | $15.8 | $24.6 | $9.0 | $16.1 | $6.8 | $8.5 | |||||||||||||||||
Non-current derivative assets | 5.9 | 3.7 | 2.9 | 1.6 | 3.0 | 2.1 | |||||||||||||||||
Current derivative liabilities | 3.6 | 5.6 | 2.1 | 3.1 | 1.5 | 2.5 | |||||||||||||||||
Non-current derivative liabilities | 12.1 | 17.7 | 5.0 | 8.1 | 7.1 | 9.6 |
20 |
Alliant Energy | March 31, 2019 | December 31, 2018 | |||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||||||||||||||||
Carrying | Level | Level | Level | Carrying | Level | Level | Level | ||||||||||||||||||||||||||||||||
Amount | 1 | 2 | 3 | Total | Amount | 1 | 2 | 3 | Total | ||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||
Derivatives | $21.7 | $— | $15.9 | $5.8 | $21.7 | $28.3 | $— | $8.9 | $19.4 | $28.3 | |||||||||||||||||||||||||||||
Deferred proceeds | 178.3 | — | — | 178.3 | 178.3 | 119.4 | — | — | 119.4 | 119.4 | |||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||
Derivatives | 15.7 | — | 10.3 | 5.4 | 15.7 | 23.3 | — | 16.1 | 7.2 | 23.3 | |||||||||||||||||||||||||||||
Long-term debt (incl. current maturities) | 5,618.7 | — | 6,071.6 | 2.1 | 6,073.7 | 5,502.8 | — | 5,858.4 | 2.4 | 5,860.8 |
IPL | March 31, 2019 | December 31, 2018 | |||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||||||||||||||||
Carrying | Level | Level | Level | Carrying | Level | Level | Level | ||||||||||||||||||||||||||||||||
Amount | 1 | 2 | 3 | Total | Amount | 1 | 2 | 3 | Total | ||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||
Derivatives | $11.9 | $— | $7.7 | $4.2 | $11.9 | $17.7 | $— | $4.0 | $13.7 | $17.7 | |||||||||||||||||||||||||||||
Deferred proceeds | 178.3 | — | — | 178.3 | 178.3 | 119.4 | — | — | 119.4 | 119.4 | |||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||
Derivatives | 7.1 | — | 3.5 | 3.6 | 7.1 | 11.2 | — | 6.5 | 4.7 | 11.2 | |||||||||||||||||||||||||||||
Long-term debt | 2,667.8 | — | 2,852.4 | — | 2,852.4 | 2,552.3 | — | 2,691.2 | — | 2,691.2 |
WPL | March 31, 2019 | December 31, 2018 | |||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||||||||||||||||
Carrying | Level | Level | Level | Carrying | Level | Level | Level | ||||||||||||||||||||||||||||||||
Amount | 1 | 2 | 3 | Total | Amount | 1 | 2 | 3 | Total | ||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||
Derivatives | $9.8 | $— | $8.2 | $1.6 | $9.8 | $10.6 | $— | $4.9 | $5.7 | $10.6 | |||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||
Derivatives | 8.6 | — | 6.8 | 1.8 | 8.6 | 12.1 | — | 9.6 | 2.5 | 12.1 | |||||||||||||||||||||||||||||
Long-term debt (incl. current maturities) | 1,835.4 | — | 2,080.0 | — | 2,080.0 | 1,834.9 | — | 2,043.7 | — | 2,043.7 |
Alliant Energy | Commodity Contract Derivative | ||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | ||||||||||||||
Three Months Ended March 31 | 2019 | 2018 | 2019 | 2018 | |||||||||||
Beginning balance, January 1 | $12.2 | ($12.2 | ) | $119.4 | $222.1 | ||||||||||
Total net losses included in changes in net assets (realized/unrealized) | (5.6 | ) | (9.8 | ) | — | — | |||||||||
Sales | (0.2 | ) | — | — | — | ||||||||||
Settlements (a) | (6.0 | ) | (7.4 | ) | 58.9 | (101.2 | ) | ||||||||
Ending balance, March 31 | $0.4 | ($29.4 | ) | $178.3 | $120.9 | ||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | ($2.6 | ) | ($9.4 | ) | $— | $— |
21 |
IPL | Commodity Contract Derivative | ||||||||||||||
Assets and (Liabilities), net | Deferred Proceeds | ||||||||||||||
Three Months Ended March 31 | 2019 | 2018 | 2019 | 2018 | |||||||||||
Beginning balance, January 1 | $9.0 | ($1.4 | ) | $119.4 | $222.1 | ||||||||||
Total net losses included in changes in net assets (realized/unrealized) | (3.2 | ) | (7.6 | ) | — | — | |||||||||
Sales | (0.1 | ) | — | — | — | ||||||||||
Settlements (a) | (5.1 | ) | (6.4 | ) | 58.9 | (101.2 | ) | ||||||||
Ending balance, March 31 | $0.6 | ($15.4 | ) | $178.3 | $120.9 | ||||||||||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | ($1.4 | ) | ($7.3 | ) | $— | $— |
WPL | Commodity Contract Derivative | ||||||
Assets and (Liabilities), net | |||||||
Three Months Ended March 31 | 2019 | 2018 | |||||
Beginning balance, January 1 | $3.2 | ($10.8 | ) | ||||
Total net losses included in changes in net assets (realized/unrealized) | (2.4 | ) | (2.2 | ) | |||
Sales | (0.1 | ) | — | ||||
Settlements | (0.9 | ) | (1.0 | ) | |||
Ending balance, March 31 | ($0.2 | ) | ($14.0 | ) | |||
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | ($1.2 | ) | ($2.1 | ) |
(a) | Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash amounts received from the receivables sold. |
Alliant Energy | IPL | WPL | |||||||||||||||||||||
Excluding FTRs | FTRs | Excluding FTRs | FTRs | Excluding FTRs | FTRs | ||||||||||||||||||
March 31, 2019 | ($3.3 | ) | $3.7 | ($2.4 | ) | $3.0 | ($0.9 | ) | $0.7 | ||||||||||||||
December 31, 2018 | 3.2 | 9.0 | 1.8 | 7.2 | 1.4 | 1.8 |
Alliant Energy | IPL | WPL | |||||||||
Purchased power (a) | $221 | $219 | $2 | ||||||||
Natural gas | 879 | 388 | 491 | ||||||||
Coal (b) | 163 | 96 | 67 | ||||||||
Other (c) | 88 | 49 | 26 | ||||||||
$1,351 | $752 | $586 |
22 |
(a) | Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. As a result of amendments to shorten the term of the DAEC PPA, which were approved by the IUB and effective in January 2019, Alliant Energy’s and IPL’s amounts include minimum future commitments related to IPL’s purchase of capacity and the resulting energy from DAEC through September 2020, and do not include the September 2020 buyout payment of $110 million. |
(b) | Corporate Services entered into system-wide coal contracts on behalf of IPL and WPL that include minimum future commitments. These commitments were assigned to IPL and WPL based on information available as of March 31, 2019 regarding expected future usage, which is subject to change. |
(c) | Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2019. |
Alliant Energy | IPL | ||||||||||
Range of estimated future costs | $15 | - | $31 | $12 | - | $26 | |||||
Current and non-current environmental liabilities | 19 | 16 |
23 |
ATC Holdings, | Alliant | ||||||||||||||||||||||
Utility | Non-Utility, | Energy | |||||||||||||||||||||
Electric | Gas | Other | Total | Parent and Other | Consolidated | ||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Three Months Ended March 31, 2019 | |||||||||||||||||||||||
Revenues | $743.4 | $215.8 | $11.1 | $970.3 | $16.9 | $987.2 | |||||||||||||||||
Operating income | 126.4 | 45.2 | — | 171.6 | 5.2 | 176.8 | |||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 119.0 | 6.1 | 125.1 | ||||||||||||||||||||
Three Months Ended March 31, 2018 | |||||||||||||||||||||||
Revenues | $708.7 | $185.6 | $13.2 | $907.5 | $8.8 | $916.3 | |||||||||||||||||
Operating income | 126.7 | 31.5 | 1.4 | 159.6 | 6.1 | 165.7 | |||||||||||||||||
Net income attributable to Alliant Energy common shareowners | 100.7 | 20.2 | 120.9 |
Electric | Gas | Other | Total | ||||||||||||
(in millions) | |||||||||||||||
Three Months Ended March 31, 2019 | |||||||||||||||
Revenues | $419.8 | $124.6 | $10.7 | $555.1 | |||||||||||
Operating income | 46.8 | 26.3 | 0.4 | 73.5 | |||||||||||
Earnings available for common stock | 53.3 | ||||||||||||||
Three Months Ended March 31, 2018 | |||||||||||||||
Revenues | $405.7 | $108.1 | $12.0 | $525.8 | |||||||||||
Operating income | 57.5 | 16.9 | 1.2 | 75.6 | |||||||||||
Earnings available for common stock | 46.7 |
24 |
Electric | Gas | Other | Total | ||||||||||||
(in millions) | |||||||||||||||
Three Months Ended March 31, 2019 | |||||||||||||||
Revenues | $323.6 | $91.2 | $0.4 | $415.2 | |||||||||||
Operating income (loss) | 79.6 | 18.9 | (0.4 | ) | 98.1 | ||||||||||
Earnings available for common stock | 65.7 | ||||||||||||||
Three Months Ended March 31, 2018 | |||||||||||||||
Revenues | $303.0 | $77.5 | $1.2 | $381.7 | |||||||||||
Operating income | 69.2 | 14.6 | 0.2 | 84.0 | |||||||||||
Earnings available for common stock | 54.0 |
IPL | WPL | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
Corporate Services billings | $43 | $41 | $33 | $33 | |||||||||||
Sales credited | 15 | 5 | 1 | 1 | |||||||||||
Purchases billed | 84 | 93 | 30 | 17 |
IPL | WPL | ||||||
March 31, 2019 | December 31, 2018 | March 31, 2019 | December 31, 2018 | ||||
Net payables to Corporate Services | $98 | $95 | $73 | $71 |
Three Months | |||||||
2019 | 2018 | ||||||
ATC billings to WPL | $27 | $27 | |||||
WPL billings to ATC | 4 | 2 |
25 |
• | In March 2019, IPL filed requests with the IUB to increase annual base rates for its Iowa retail electric and gas customers, which were based on a forward-looking test period that includes 2020. IPL concurrently filed for interim retail electric rates based on a 2018 historical Test Year, which were implemented effective April 1, 2019. Refer to Note 2 for details. |
• | In March 2019, IPL placed approximately 470 megawatts of new wind generation in service at the Upland Prairie and English Farms wind sites. IPL’s retail electric customers began to see the impacts of this renewable generation with the interim electric rates effective April 1, 2019. |
• | In March 2019, the IUB approved IPL’s energy efficiency plan for 2019 through 2023, which provides direct financial savings to customers and provides cost-effective options to help electric and gas customers reduce their energy usage. The energy efficiency costs, which are lower than previous energy efficiency plans, will be reflected on customer bills beginning June 2019. |
• | In January and March 2019, AEF, a subsidiary of Alliant Energy, purchased two freight management companies. These non-utility acquisitions enhance Alliant Energy’s Transportation value to customers by adding customized supply chain solution capabilities to their portfolio of service offerings. Refer to Note 4 for details. |
• | The installation of a selective catalytic reduction system at IPL’s Ottumwa Unit 1 was completed in the first quarter of 2019, which supports compliance obligations under the Cross-State Air Pollution Rule and IPL’s Consent Decree. |
• | In April 2019, IPL issued $300 million of 3.6% senior debentures due 2029. The senior debentures were issued as green bonds, and all of the net proceeds were allocated for the construction and development of IPL’s wind projects. |
2019 | 2018 | ||||||||||||||
Income (Loss) | EPS | Income | EPS | ||||||||||||
Utilities and Corporate Services | $122.0 | $0.52 | $104.4 | $0.45 | |||||||||||
ATC Holdings | 7.1 | 0.03 | 6.3 | 0.03 | |||||||||||
Non-utility and Parent | (4.0 | ) | (0.02 | ) | 10.2 | 0.04 | |||||||||
Alliant Energy Consolidated | $125.1 | $0.53 | $120.9 | $0.52 |
26 |
Alliant Energy | IPL | WPL | |||||||||||||||||||||
Three Months | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | |||||||||||||||||
Operating income | $176.8 | $165.7 | $73.5 | $75.6 | $98.1 | $84.0 | |||||||||||||||||
Electric utility revenues | $743.4 | $708.7 | $419.8 | $405.7 | $323.6 | $303.0 | |||||||||||||||||
Electric production fuel and purchased power expenses | (218.4 | ) | (203.2 | ) | (128.9 | ) | (114.6 | ) | (89.5 | ) | (88.6 | ) | |||||||||||
Electric transmission service expense | (123.0 | ) | (126.4 | ) | (87.7 | ) | (90.8 | ) | (35.3 | ) | (35.6 | ) | |||||||||||
Utility Electric Margin (non-GAAP) | 402.0 | 379.1 | 203.2 | 200.3 | 198.8 | 178.8 | |||||||||||||||||
Gas utility revenues | 215.8 | 185.6 | 124.6 | 108.1 | 91.2 | 77.5 | |||||||||||||||||
Cost of gas sold | (121.6 | ) | (111.2 | ) | (63.3 | ) | (60.6 | ) | (58.3 | ) | (50.6 | ) | |||||||||||
Utility Gas Margin (non-GAAP) | 94.2 | 74.4 | 61.3 | 47.5 | 32.9 | 26.9 | |||||||||||||||||
Other utility revenues | 11.1 | 13.2 | 10.7 | 12.0 | 0.4 | 1.2 | |||||||||||||||||
Non-utility revenues | 16.9 | 8.8 | — | — | — | — | |||||||||||||||||
Other operation and maintenance expenses | (181.2 | ) | (162.4 | ) | (108.0 | ) | (105.5 | ) | (63.5 | ) | (56.3 | ) | |||||||||||
Depreciation and amortization expenses | (136.9 | ) | (120.4 | ) | (77.1 | ) | (64.8 | ) | (58.6 | ) | (54.6 | ) | |||||||||||
Taxes other than income tax expense | (29.3 | ) | (27.0 | ) | (16.6 | ) | (13.9 | ) | (11.9 | ) | (12.0 | ) | |||||||||||
Operating income | $176.8 | $165.7 | $73.5 | $75.6 | $98.1 | $84.0 |
Alliant Energy | IPL | WPL | |||||||||
Total higher utility electric margin variance (Refer to details below) | $23 | $3 | $20 | ||||||||
Total higher utility gas margin variance (Refer to details below) | 20 | 14 | 6 | ||||||||
Higher non-utility revenues due to AEF’s new acquisitions | 8 | — | — | ||||||||
Total higher other operation and maintenance expenses variance (Refer to details below) | (19 | ) | (3 | ) | (7 | ) | |||||
Higher depreciation and amortization expense, primarily due to new IPL depreciation rates effective May 2018 and additional plant in service in 2018 and 2019 | (17 | ) | (12 | ) | (4 | ) | |||||
Other | (4 | ) | (4 | ) | (1 | ) | |||||
$11 | ($2 | ) | $14 |
Alliant Energy | Electric | Gas | |||||||||||||||||||||||||
Revenues | MWhs Sold | Revenues | Dths Sold | ||||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | ||||||||||||||||||||
Retail | $664.5 | $635.3 | 6,352 | 6,336 | $200.8 | $173.4 | 26,379 | 23,848 | |||||||||||||||||||
Sales for resale | 63.5 | 60.6 | 1,424 | 1,121 | N/A | N/A | N/A | N/A | |||||||||||||||||||
Transportation/Other | 15.4 | 12.8 | 26 | 26 | 15.0 | 12.2 | 25,370 | 24,061 | |||||||||||||||||||
$743.4 | $708.7 | 7,802 | 7,483 | $215.8 | $185.6 | 51,749 | 47,909 |
IPL | Electric | Gas | |||||||||||||||||||||||||
Revenues | MWhs Sold | Revenues | Dths Sold | ||||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | ||||||||||||||||||||
Retail | $380.2 | $368.6 | 3,629 | 3,669 | $115.9 | $99.8 | 13,993 | 12,692 | |||||||||||||||||||
Sales for resale | 32.0 | 29.7 | 927 | 527 | N/A | N/A | N/A | N/A | |||||||||||||||||||
Transportation/Other | 7.6 | 7.4 | 9 | 9 | 8.7 | 8.3 | 11,007 | 11,223 | |||||||||||||||||||
$419.8 | $405.7 | 4,565 | 4,205 | $124.6 | $108.1 | 25,000 | 23,915 |
27 |
WPL | Electric | Gas | |||||||||||||||||||||||||
Revenues | MWhs Sold | Revenues | Dths Sold | ||||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | ||||||||||||||||||||
Retail | $284.3 | $266.7 | 2,723 | 2,667 | $84.9 | $73.6 | 12,386 | 11,156 | |||||||||||||||||||
Sales for resale | 31.5 | 30.9 | 497 | 594 | N/A | N/A | N/A | N/A | |||||||||||||||||||
Transportation/Other | 7.8 | 5.4 | 17 | 17 | 6.3 | 3.9 | 14,363 | 12,838 | |||||||||||||||||||
$323.6 | $303.0 | 3,237 | 3,278 | $91.2 | $77.5 | 26,749 | 23,994 |
Electric Margins | Gas Margins | ||||||||||||||||||||||
2019 | 2018 | Change | 2019 | 2018 | Change | ||||||||||||||||||
IPL | $6 | $— | $6 | $3 | $— | $3 | |||||||||||||||||
WPL | 4 | 1 | 3 | 2 | 1 | 1 | |||||||||||||||||
Total Alliant Energy | $10 | $1 | $9 | $5 | $1 | $4 |
Alliant Energy | IPL | WPL | |||||||||
Higher margins at WPL from earning on increasing rate base for rates effective January 2019 | $13 | $— | $13 | ||||||||
Estimated changes in sales volumes caused by temperatures | 9 | 6 | 3 | ||||||||
Impact of IPL’s retail electric final base rate increase effective May 2018 | 6 | 6 | — | ||||||||
Lower revenues at IPL due to changes in electric tax benefit rider credits on customers’ bills (offset by changes in income tax expense) | (5 | ) | (5 | ) | — | ||||||
Other | — | (4 | ) | 4 | |||||||
$23 | $3 | $20 |
Alliant Energy | IPL | WPL | |||||||||
Impact of IPL’s retail gas final base rate increase effective January 2019 | $7 | $7 | $— | ||||||||
Estimated changes in sales volumes caused by temperatures | 4 | 3 | 1 | ||||||||
Higher revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (mostly offset by changes in energy efficiency expense) | 3 | 3 | — | ||||||||
Higher margins at WPL from earning on increasing rate base for rates effective January 2019 | 2 | — | 2 | ||||||||
Other | 4 | 1 | 3 | ||||||||
$20 | $14 | $6 |
Alliant Energy | IPL | WPL | |||||||||
Higher operation expense at AEF due to new acquisitions (offset by higher non-utility revenues) | ($7 | ) | $— | $— | |||||||
Higher energy efficiency expense at IPL (primarily offset by higher gas revenues) | (4 | ) | (4 | ) | — | ||||||
Higher energy efficiency cost recovery amortizations at WPL pursuant to authorization from Public Service Commission of Wisconsin rate order effective January 2019 | (4 | ) | — | (4 | ) | ||||||
Other | (4 | ) | 1 | (3 | ) | ||||||
($19 | ) | ($3 | ) | ($7 | ) |
28 |
Alliant Energy | IPL | WPL | |||||||||
Higher interest expense primarily due to higher average outstanding long-term debt balances | ($7 | ) | $— | ($1 | ) | ||||||
Lower equity income primarily due to decreased earnings from non-utility wind farm resulting from an acceleration of earnings in the first quarter of 2018 due to Federal Tax Reform | (10 | ) | — | — | |||||||
Higher allowance for funds used during construction primarily due to increased construction work in progress balances related to IPL’s new wind generation and WPL’s West Riverside Energy Center | 11 | 8 | 2 | ||||||||
Other | (3 | ) | — | — | |||||||
($9 | ) | $8 | $1 |
Alliant Energy | IPL | WPL | |||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | 2019 | 2018 | ||||||||||||||||||
Cash, cash equivalents and restricted cash, January 1 | $25.5 | $33.9 | $12.4 | $7.2 | $9.2 | $24.2 | |||||||||||||||||
Cash flows from (used for): | |||||||||||||||||||||||
Operating activities | 181.1 | 156.3 | 76.7 | 1.8 | 122.2 | 141.7 | |||||||||||||||||
Investing activities | (364.8 | ) | (152.2 | ) | (221.8 | ) | (11.4 | ) | (120.3 | ) | (128.7 | ) | |||||||||||
Financing activities | 176.0 | (9.8 | ) | 139.6 | 8.9 | (6.4 | ) | (31.3 | ) | ||||||||||||||
Net increase (decrease) | (7.7 | ) | (5.7 | ) | (5.5 | ) | (0.7 | ) | (4.5 | ) | (18.3 | ) | |||||||||||
Cash, cash equivalents and restricted cash, March 31 | $17.8 | $28.2 | $6.9 | $6.5 | $4.7 | $5.9 |
29 |
Alliant Energy | IPL | WPL | |||||||||
Changes in levels of production fuel | $19 | $16 | $3 | ||||||||
Increased collections from IPL’s and WPL’s retail customers caused by temperature impacts on electric and gas sales | 13 | 9 | 4 | ||||||||
Higher collections from IPL’s retail electric and gas base rate increases | 13 | 13 | — | ||||||||
Amounts refunded to customers in 2019 related to Federal Tax Reform | (11 | ) | (9 | ) | (2 | ) | |||||
Timing of intercompany payments and receipts | — | 21 | (2 | ) | |||||||
Other (primarily due to other changes in working capital) | (9 | ) | 25 | (23 | ) | ||||||
$25 | $75 | ($20 | ) |
Alliant Energy | IPL | WPL | |||||||||
Changes in the amount of cash receipts on sold receivables | ($164 | ) | ($164 | ) | $— | ||||||
Lower (higher) utility construction expenditures (a) | (39 | ) | (43 | ) | 4 | ||||||
Other | (10 | ) | (3 | ) | 4 | ||||||
($213 | ) | ($210 | ) | $8 |
(a) | Largely due to higher expenditures for IPL’s expansion of wind generation. |
Alliant Energy | IPL | WPL | |||||||||
Net changes in the amount of commercial paper outstanding | $126 | $19 | $27 | ||||||||
Higher net proceeds from common stock issuances | 48 | — | — | ||||||||
Higher capital contributions from IPL’s parent company, Alliant Energy | — | 100 | — | ||||||||
Other | 12 | 12 | (2 | ) | |||||||
$186 | $131 | $25 |
30 |
Total Number | Average Price | Total Number of Shares | Maximum Number (or Approximate | ||||||||
of Shares | Paid Per | Purchased as Part of | Dollar Value) of Shares That May | ||||||||
Period | Purchased (a) | Share | Publicly Announced Plan | Yet Be Purchased Under the Plan (a) | |||||||
January 1 through January 31 | 2,138 | $42.51 | — | N/A | |||||||
February 1 through February 28 | 3,122 | 45.00 | — | N/A | |||||||
March 1 through March 31 | 4,263 | 46.31 | — | N/A | |||||||
9,523 | 45.03 | — |
(a) | Includes 2,138, 3,122 and 1,525 shares of Alliant Energy common stock for January 1 through January 31, February 1 through February 28 and March 1 through March 31, respectively, purchased on the open market and held in a rabbi trust under the Alliant Energy Deferred Compensation Plan. There is no limit on the number of shares of Alliant Energy common stock that may be held under the Deferred Compensation Plan, which currently does not have an expiration date. Also includes 2,738 shares of Alliant Energy common stock for March 1 through March 31 transferred from employees to Alliant Energy to satisfy tax withholding requirements in connection with the vesting of certain restricted stock under equity-based compensation plans. |
31 |
Exhibit Number | Description | |
4.1 | ||
31.1 | ||
31.2 | ||
31.3 | ||
31.4 | ||
31.5 | ||
31.6 | ||
32.1 | ||
32.2 | ||
32.3 | ||
101.INS | XBRL Instance Document | |
101.SCH | XBRL Taxonomy Extension Schema Document | |
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | |
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | |
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document |
ALLIANT ENERGY CORPORATION | |
Registrant | |
By: /s/ Benjamin M. Bilitz | Chief Accounting Officer and Controller |
Benjamin M. Bilitz | (Principal Accounting Officer and Authorized Signatory) |
INTERSTATE POWER AND LIGHT COMPANY | |
Registrant | |
By: /s/ Benjamin M. Bilitz | Chief Accounting Officer and Controller |
Benjamin M. Bilitz | (Principal Accounting Officer and Authorized Signatory) |
WISCONSIN POWER AND LIGHT COMPANY | |
Registrant | |
By: /s/ Benjamin M. Bilitz | Chief Accounting Officer and Controller |
Benjamin M. Bilitz | (Principal Accounting Officer and Authorized Signatory) |
32 |