Table of Contents


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
     
FORM 10-Q
     
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended SeptemberJune 30, 20182019

or

☐TRANSITION 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
For the transition period from                    to                    


alliantenergylogo.jpg

Commission
File Number
Name of Registrant, State of Incorporation,
Address of Principal Executive Offices and Telephone Number
IRS Employer
Identification Number
1-9894ALLIANT ENERGY CORPORATION39-1380265
(a Wisconsin corporation)
4902 N. Biltmore Lane
Madison, Wisconsin 53718
Telephone (608) 458-3311
1-4117INTERSTATE POWER AND LIGHT COMPANY42-0331370
(an Iowa corporation)
Alliant Energy Tower
Cedar Rapids, Iowa 52401
Telephone (319) 786-4411
0-337WISCONSIN POWER AND LIGHT COMPANYName of Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, Commission File Number, IRS Employer Identification Number

ALLIANT ENERGY CORPORATION
(a Wisconsin Corporation)
4902 N. Biltmore Lane
Madison, Wisconsin 53718
Telephone (608) 458-3311
Commission File Number - 1-9894
IRS Employer Identification Number - 39-1380265

INTERSTATE POWER & LIGHT COMPANY
(an Iowa corporation)
Alliant Energy Tower
Cedar Rapids, Iowa 52401
Telephone (319) 786-4411
Commission File Number - 1-4117
IRS Employer Identification Number - 42-0331370

WISCONSIN POWER & LIGHT COMPANY
(a Wisconsin corporation)
4902 N. Biltmore Lane
Madison, Wisconsin 53718
Telephone (608) 458-3311
Commission File Number - 0-337
IRS Employer Identification Number - 39-0714890
(a Wisconsin corporation)
4902 N. Biltmore Lane
Madison, Wisconsin 53718
Telephone (608) 458-3311
This combined Form 10-Q is separately filed by Alliant Energy Corporation, Interstate Power and Light Company and Wisconsin Power and Light Company. Information contained in the Form 10-Q relating to Interstate Power and Light Company and Wisconsin Power and Light Company is filed by each such registrant on its own behalf. Each of Interstate Power and Light Company and Wisconsin Power and Light Company makes no representation as to information relating to registrants other than itself.

Securities registered pursuant to Section 12(b) of the Act:
Alliant Energy Corporation, Common Stock, $0.01 Par Value, Trading Symbol LNT, Nasdaq Global Select Market
Interstate Power and Light Company, 5.100% Series D Cumulative Perpetual Preferred Stock, $0.01 Par Value, Trading Symbol IPLDP, Nasdaq Global Select Market

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days.
Alliant Energy Corporation - Yes ☒ No ☐
Interstate Power and Light Company - Yes ☒ No ☐
Wisconsin Power and Light Company - Yes ☒ No ☐

Indicate by check mark whether the registrants have submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrants were required to submit such files).
Alliant Energy Corporation - Yes ☒No ☐
Interstate Power and Light Company - Yes ☒ No ☐
Wisconsin Power and Light Company - Yes ☒ No ☐
Indicate by check mark whether the registrants are large accelerated filers, accelerated filers, non-accelerated filers, smaller reporting companies, or emerging growth companies. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Alliant Energy Corporation - Large Accelerated Filer ☒ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller Reporting Company ☐Emerging Growth Company ☐
Large Accelerated FilerAccelerated FilerNon-accelerated FilerSmaller Reporting CompanyEmerging Growth Company
Alliant Energy Corporation☒
Interstate Power and Light Company☒
Wisconsin Power and Light Company☒
Interstate Power and Light Company - Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☒ Smaller Reporting Company ☐Emerging Growth Company ☐
Wisconsin Power and Light Company - Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☒ Smaller Reporting Company ☐Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Alliant Energy Corporation ☐
Interstate Power and Light Company ☐
Wisconsin Power and Light Company ☐

Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Exchange Act).
Alliant Energy Corporation - Yes ☐No ☒
Interstate Power and Light Company - Yes ☐No ☒
Wisconsin Power and Light Company - Yes ☐No ☒
Number of shares outstanding of each class of common stock as of SeptemberJune 30, 2018:2019:
Alliant Energy Corporation, Common Stock, $0.01 par value, 237,521,074 shares outstanding
Alliant Energy CorporationCommon stock, $0.01 par value, 235,936,447Interstate Power and Light Company, Common Stock, $2.50 par value, 13,370,788 shares outstanding (all outstanding shares outstanding
Interstate Power and Light CompanyCommon 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 CompanyCommon stock, $5 par value, 13,236,601 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 outstanding shares are owned beneficially and of record by Alliant Energy Corporation)



Table of Contents


TABLE OF CONTENTS
 Page
Definitions
1
Forward-looking Statements
1
Part I. Financial Information
3
Item 1. Condensed Consolidated Financial Statements (Unaudited)
3
Alliant Energy Corporation
3
Interstate Power and Light Company
6
Wisconsin Power and Light Company
9
Combined Notes to Condensed Consolidated Financial Statements
12
1. Summary of Significant Accounting Policies
12
2. Regulatory Matters
13
3. Receivables
14
3. Property, Plant4. Investments and EquipmentAcquisitions
1615
4. Receivables5. Common Equity
1615
5. Investments
17
6. Common Equity
17
7. Debt
18
8. Revenues7. Leases
1819
9. Income Taxes8. Revenues
20
10. Benefit Plans9. Income Taxes
21
10. Benefit Plans
22
11. Fair Value MeasurementsAsset Retirement Obligations
23
12. Derivative Instruments
2523
13. Fair Value Measurements
24
14. Commitments and Contingencies
26
14.15. Segments of Business
28
15.16. Related Parties
3029
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
3130
Item 3. Quantitative and Qualitative Disclosures About Market Risk
4137
Item 4. Controls and Procedures
4137
Part II. Other Information
4137
Item 1A. Risk Factors
4137
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
4137
Item 6. Exhibits
4238
Signatures
4238


Table of Contents


DEFINITIONS
The following abbreviations or acronyms used in this Form 10-Qreport are defined below:
Abbreviation or AcronymDefinitionAbbreviation or AcronymDefinition
20172018 Form 10-KCombined Annual Report on Form 10-K filed by Alliant Energy, IPL and WPL for the year ended Dec. 31, 20172018Fuel-relatedElectric production fuel and purchased power
AEFAlliant Energy Finance, LLCGAAPU.S. generally accepted accounting principles
Alliant EnergyAlliant Energy CorporationIPLInterstate Power and Light Company
ATCAmerican Transmission Company LLCIUBIowa Utilities Board
AEFATC HoldingsAlliant Energy Finance,Interest in American Transmission Company LLC and ATC Holdco LLCMDAManagement’s Discussion and Analysis of Financial Condition and Results of Operations
AFUDCCorporate ServicesAllowance for funds used during constructionAlliant Energy Corporate Services, Inc.MISOMidcontinent Independent System Operator, Inc.
AlliantDAECDuane Arnold EnergyAlliant Energy CorporationMWMegawatt
ATCAmerican Transmission Company LLC CenterMWhMegawatt-hour
ATC HoldingsDthInterest in American Transmission Company LLC and ATC Holdco LLCDekathermN/ANot applicable
Corporate ServicesEGUAlliant Energy Corporate Services, Inc.Electric generating unitNote(s)Combined Notes to Condensed Consolidated Financial Statements
DAECEPADuane Arnold Energy CenterNOxNitrogen oxide
DthDekathermU.S. Environmental Protection AgencyOPEBOther postretirement benefits
EGUEPSElectric generating unitEarnings per weighted average common sharePPAPurchased power agreement
EPAFederal Tax ReformTax Cuts and Jobs ActU.S. Environmental Protection AgencyPSCWPublic Service CommissionUnited States of Wisconsin
FERCFederal Energy Regulatory CommissionRiversideRiverside Energy CenterAmerica
Financial StatementsCondensed Consolidated Financial StatementsSCRSelective catalytic reduction
FTRFinancial transmission rightFederal Tax ReformTax Cuts and Jobs Act
Fuel-relatedElectric production fuel and purchased powerU.S.United States of America
GAAPU.S. generally accepted accounting principlesWhiting PetroleumWhiting Petroleum Corporation
IPLFTRInterstate Power and Light CompanyFinancial transmission rightWPLWisconsin Power and Light Company


FORWARD-LOOKING STATEMENTS


Statements contained in this report that are not of historical fact are forward-looking statements intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified as such because the statements include words such as “may,” “believe,” “expect,” “anticipate,” “plan,” “project,” “will,” “projections,” “estimate,” or other words of similar import. Similarly, statements that describe future financial performance or plans or strategies are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Some, but not all, of the risks and uncertainties of Alliant Energy, IPL and WPL that could materially affect actual results include:


IPL’s and WPL’s ability to obtain adequate and timely rate relief to allow for, among other things, earning a return on rate base additions and the recovery of 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;
ability to obtain necessary regulatory approval for capital projects with acceptable conditions;
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;


 1 
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weather effects on results of utility operations;
issues associated with environmental remediation and environmental compliance, including compliance with the Consent Decree between WPL, the EPAall environmental and the Sierra Club, the Consent Decree between IPL, the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa,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;
developments that adversely impact the ability to implement the strategic plan;
ability to obtain regulatory approval for wind projects with acceptable conditions, to complete construction within the cost caps set by regulators and to meet all requirements to qualify for the full level of production tax credits;
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 inmay have on Alliant Energy’s, IPL’s and WPL’s service territories may have on their operations and recovery of costs associated with restoration activities;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 2017 2018 Form 10-K.10-K.


Alliant Energy, IPL and WPL each assume no obligation, and disclaim any duty, to update the forward-looking statements in this report, except as required by law.


 2 
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PART I. FINANCIAL INFORMATION
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
ALLIANT ENERGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
For the Three Months For the Nine MonthsFor the Three Months For the Six Months
Ended September 30, Ended September 30,Ended June 30, Ended June 30,
2018 2017 2018 20172019 2018 2019 2018
(in millions, except per share amounts)(in millions, except per share amounts)
Revenues:              
Electric utility
$861.2
 
$840.6
 
$2,296.2
 
$2,199.1

$691.2
 
$726.3
 
$1,434.6
 
$1,435.0
Gas utility44.8
 45.8
 299.0
 262.7
65.2
 68.6
 281.0
 254.2
Other utility12.3
 11.2
 36.2
 34.4
10.9
 10.7
 22.0
 23.9
Non-utility10.3
 9.3
 29.6
 29.9
22.9
 10.5
 39.8
 19.3
Total revenues928.6
 906.9
 2,661.0
 2,526.1
790.2
 816.1
 1,777.4
 1,732.4
Operating expenses:              
Electric production fuel and purchased power227.8
 222.6
 639.5
 614.7
164.8
 208.5
 383.2
 411.7
Electric transmission service129.1
 121.0
 375.2
 363.3
112.4
 119.7
 235.4
 246.1
Cost of gas sold11.3
 15.0
 150.0
 135.5
20.4
 27.5
 142.0
 138.7
Other operation and maintenance148.4
 164.3
 468.8
 453.6
172.3
 158.0
 353.5
 320.4
Depreciation and amortization129.0
 120.7
 376.4
 342.7
142.9
 127.0
 279.8
 247.4
Taxes other than income taxes26.9
 27.0
 78.1
 79.1
27.6
 24.2
 56.9
 51.2
Total operating expenses672.5
 670.6
 2,088.0
 1,988.9
640.4
 664.9
 1,450.8
 1,415.5
Operating income256.1
 236.3
 573.0
 537.2
149.8
 151.2
 326.6
 316.9
Other (income) and deductions:              
Interest expense63.3
 53.9
 183.8
 159.0
69.2
 61.3
 135.5
 120.5
Equity income from unconsolidated investments, net(9.8) (10.1) (41.6) (32.9)(12.7) (10.5) (23.6) (31.8)
Allowance for funds used during construction(18.8) (9.6) (51.8) (36.7)(18.3) (18.1) (43.7) (33.0)
Other1.6
 4.6
 6.0
 13.1
3.3
 2.0
 7.3
 4.4
Total other (income) and deductions36.3
 38.8
 96.4
 102.5
41.5
 34.7
 75.5
 60.1
Income from continuing operations before income taxes219.8
 197.5
 476.6
 434.7
Income before income taxes108.3
 116.5
 251.1
 256.8
Income taxes11.7
 26.1
 42.1
 64.9
11.2
 13.6
 26.3
 30.4
Income from continuing operations, net of tax208.1
 171.4
 434.5
 369.8
Income from discontinued operations, net of tax—
 —
 —
 1.4
Net income208.1
 171.4
 434.5
 371.2
97.1
 102.9
 224.8
 226.4
Preferred dividend requirements of Interstate Power and Light Company2.6
 2.6
 7.7
 7.7
2.5
 2.5
 5.1
 5.1
Net income attributable to Alliant Energy common shareowners
$205.5
 
$168.8
 
$426.8
 
$363.5

$94.6
 
$100.4
 
$219.7
 
$221.3
Weighted average number of common shares outstanding (basic and diluted)235.2
 231.0
 232.9
 229.2
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted):
       
Income from continuing operations, net of tax
$0.87
 
$0.73
 
$1.83
 
$1.58
Income from discontinued operations, net of tax—
 —
 —
 0.01
Net income
$0.87
 
$0.73
 
$1.83
 
$1.59
Amounts attributable to Alliant Energy common shareowners:       
Income from continuing operations, net of tax
$205.5
 
$168.8
 
$426.8
 
$362.1
Income from discontinued operations, net of tax—
 —
 —
 1.4
Net income
$205.5
 
$168.8
 
$426.8
 
$363.5
Weighted average number of common shares outstanding (basic)237.5
 232.0
 237.0
 231.7
Weighted average number of common shares outstanding (diluted)238.1
 232.0
 237.3
 231.7
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted)

$0.40
 
$0.43
 
$0.93
 
$0.96


TheRefer to accompanying Combined Notes to Condensed Consolidated Financial Statements are an integral part of these statements.Statements.


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ALLIANT ENERGY CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
September 30,
2018		 December 31,
2017		June 30,
2019		 December 31,
2018
(in millions, except per
share and share amounts)
(in millions, except per
share and share amounts)
ASSETS      
Current assets:      
Cash and cash equivalents
$239.7
 
$27.9

$170.2
 
$20.9
Accounts receivable, less allowance for doubtful accounts465.3
 482.8
421.5
 350.4
Production fuel, at weighted average cost61.3
 72.3
67.8
 61.4
Gas stored underground, at weighted average cost43.0
 44.5
32.9
 49.0
Materials and supplies, at weighted average cost106.8
 105.6
105.1
 101.4
Regulatory assets82.2
 84.3
78.7
 79.8
Other126.5
 87.7
151.1
 122.2
Total current assets1,124.8
 905.1
1,027.3
 785.1
Property, plant and equipment, net12,005.2
 11,234.5
12,854.0
 12,462.4
Investments:      
ATC Holdings285.9
 274.2
302.3
 293.6
Other138.1
 121.9
141.0
 137.7
Total investments424.0
 396.1
443.3
 431.3
Other assets:      
Regulatory assets1,612.5
 1,582.4
1,728.2
 1,657.5
Deferred charges and other103.3
 69.7
68.8
 89.7
Total other assets1,715.8
 1,652.1
1,797.0
 1,747.2
Total assets
$15,269.8
 
$14,187.8

$16,121.6
 
$15,426.0
LIABILITIES AND EQUITY   
Current liabilities:   
Current maturities of long-term debt
$706.8
 
$256.5
Commercial paper390.5
 441.2
Accounts payable422.5
 543.3
Regulatory liabilities166.9
 142.7
Other262.3
 260.4
Total current liabilities1,949.0
 1,644.1
Long-term debt, net (excluding current portion)5,438.1
 5,246.3
Other liabilities:   
Deferred tax liabilities1,657.9
 1,603.1
Regulatory liabilities1,276.0
 1,350.5
Pension and other benefit obligations487.4
 509.1
Other413.6
 287.2
Total other liabilities3,834.9
 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; 237,521,074 and 236,063,279 shares outstanding2.4
 2.4
Additional paid-in capital2,108.4
 2,045.5
Retained earnings2,597.8
 2,545.9
Accumulated other comprehensive income1.0
 1.7
Shares in deferred compensation trust - 380,863 and 384,580 shares at a weighted average cost of $26.22 and $25.60 per share(10.0) (9.8)
Total Alliant Energy Corporation common equity4,699.6
 4,585.7
Cumulative preferred stock of Interstate Power and Light Company200.0
 200.0
Total equity4,899.6
 4,785.7
Total liabilities and equity
$16,121.6
 
$15,426.0

LIABILITIES AND EQUITY   
Current liabilities:   
Current maturities of long-term debt
$506.1
 
$855.7
Commercial paper136.8
 320.2
Other short-term borrowings—
 95.0
Accounts payable498.1
 477.3
Regulatory liabilities151.7
 140.0
Other255.6
 260.8
Total current liabilities1,548.3
 2,149.0
Long-term debt, net (excluding current portion)5,248.2
 4,010.6
Other liabilities:   
Deferred tax liabilities1,575.2
 1,478.4
Regulatory liabilities1,353.9
 1,357.2
Pension and other benefit obligations487.0
 504.0
Other286.8
 306.4
Total other liabilities3,702.9
 3,646.0
Commitments and contingencies (Note 13)


 

Equity:   
Alliant Energy Corporation common equity:   
Common stock - $0.01 par value - 480,000,000 shares authorized; 235,936,447 and 231,348,646 shares outstanding2.4
 2.3
Additional paid-in capital2,038.2
 1,845.5
Retained earnings2,539.5
 2,346.0
Accumulated other comprehensive loss(0.2) (0.5)
Shares in deferred compensation trust - 377,723 and 463,365 shares at a weighted average cost of $25.27 and $23.91 per share(9.5) (11.1)
Total Alliant Energy Corporation common equity4,570.4
 4,182.2
Cumulative preferred stock of Interstate Power and Light Company200.0
 200.0
Total equity4,770.4
 4,382.2
Total liabilities and equity
$15,269.8
 
$14,187.8


TheRefer to accompanying Combined Notes to Condensed Consolidated Financial Statements are an integral part of these statements.Statements.


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ALLIANT ENERGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
For the Nine MonthsFor the Six Months
Ended September 30,Ended June 30,
2018 20172019 2018
(in millions)(in millions)
Cash flows from operating activities:      
Net income
$434.5
 
$371.2

$224.8
 
$226.4
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization376.4
 342.7
279.8
 247.4
Deferred tax expense and tax credits62.5
 102.7
19.9
 33.9
Equity income from unconsolidated investments,net(41.6) (32.9)
Equity component of allowance for funds used during construction(30.8) (22.6)
Equity income from unconsolidated investments, net(23.6) (31.8)
Other8.2
 25.8
37.1
 31.6
Other changes in assets and liabilities:      
Accounts receivable(325.2) (268.3)(199.7) (168.4)
Regulatory assets27.4
 (108.9)
Accounts payable(47.3) 3.8
(33.1) (34.1)
Regulatory liabilities14.7
 (64.8)(26.1) 21.5
Deferred income taxes32.7
 101.0
34.3
 (6.3)
Other(100.1) (21.0)(5.7) (23.2)
Net cash flows from operating activities442.2
 451.3
276.9
 274.4
Cash flows used for investing activities:      
Construction and acquisition expenditures:      
Utility business(1,080.2) (892.5)(652.5) (699.6)
Other(47.8) (156.9)(54.1) (33.7)
Cash receipts on sold receivables337.2
 432.1
125.5
 232.5
Other(24.9) (21.8)(25.9) (17.1)
Net cash flows used for investing activities(815.7) (639.1)(607.0) (517.9)
Cash flows from financing activities:      
Common stock dividends(233.3) (215.7)(167.8) (154.8)
Proceeds from issuance of common stock, net191.3
 143.2
60.6
 100.1
Proceeds from issuance of long-term debt1,500.0
 —
650.0
 1,000.0
Payments to retire long-term debt(603.1) (2.5)(3.4) (503.0)
Net change in commercial paper and other short-term borrowings(278.4) 281.2
(50.7) (207.7)
Other10.9
 (16.3)(9.9) (13.0)
Net cash flows from financing activities587.4
 189.9
478.8
 221.6
Net increase in cash, cash equivalents and restricted cash213.9
 2.1
Net increase (decrease) in cash, cash equivalents and restricted cash148.7
 (21.9)
Cash, cash equivalents and restricted cash at beginning of period33.9
 13.1
25.5
 33.9
Cash, cash equivalents and restricted cash at end of period
$247.8
 
$15.2

$174.2
 
$12.0
Supplemental cash flows information:      
Cash paid during the period for:   
Interest, net of capitalized interest
($171.6) 
($158.5)
Cash (paid) refunded during the period for:   
Interest
($132.7) 
($119.8)
Income taxes, net
($5.0) 
($11.4)
$2.5
 
($5.0)
Significant non-cash investing and financing activities:      
Accrued capital expenditures
$236.2
 
$197.2

$187.4
 
$186.5
Beneficial interest obtained in exchange for securitized accounts receivable
$243.7
 
$115.3

$214.6
 
$208.3


TheRefer to accompanying Combined Notes to Condensed Consolidated Financial Statements are an integral part of these statements.Statements.


 5 
Table of Contents


INTERSTATE POWER AND LIGHT COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
For the Three Months For the Nine MonthsFor the Three Months For the Six Months
Ended September 30, Ended September 30,Ended June 30, Ended June 30,
2018 2017 2018 20172019 2018 2019 2018
(in millions)(in millions)
Revenues:              
Electric utility
$509.2
 
$489.0
 
$1,337.0
 
$1,217.6

$392.3
 
$422.1
 
$812.1
 
$827.8
Gas utility26.7
 27.4
 177.0
 147.2
38.4
 42.2
 163.0
 150.3
Steam and other11.7
 11.0
 34.2
 33.3
10.5
 10.5
 21.2
 22.5
Total revenues547.6
 527.4
 1,548.2
 1,398.1
441.2
 474.8
 996.3
 1,000.6
Operating expenses:              
Electric production fuel and purchased power122.5
 122.5
 354.0
 330.0
83.3
 116.9
 212.2
 231.5
Electric transmission service92.8
 78.2
 268.0
 235.0
77.4
 84.4
 165.1
 175.2
Cost of gas sold6.4
 9.9
 83.8
 74.6
10.8
 16.8
 74.1
 77.4
Other operation and maintenance94.6
 102.4
 297.1
 283.2
97.4
 97.0
 205.4
 202.5
Depreciation and amortization73.9
 66.2
 209.2
 181.0
82.6
 70.5
 159.7
 135.3
Taxes other than income taxes14.3
 14.4
 39.7
 41.1
15.2
 11.5
 31.8
 25.4
Total operating expenses404.5
 393.6
 1,251.8
 1,144.9
366.7
 397.1
 848.3
 847.3
Operating income143.1
 133.8
 296.4
 253.2
74.5
 77.7
 148.0
 153.3
Other (income) and deductions:              
Interest expense30.4
 27.9
 90.6
 83.5
31.5
 30.4
 60.9
 60.2
Allowance for funds used during construction(11.0) (4.7) (28.3) (25.1)(7.9) (9.9) (23.7) (17.3)
Other0.5
 1.9
 2.0
 5.3
1.5
 0.7
 3.4
 1.5
Total other (income) and deductions19.9
 25.1
 64.3
 63.7
25.1
 21.2
 40.6
 44.4
Income before income taxes123.2
 108.7
 232.1
 189.5
49.4
 56.5
 107.4
 108.9
Income tax benefit(5.9) (14.3) (0.5) (18.6)
Income taxes1.9
 2.3
 4.0
 5.4
Net income129.1
 123.0
 232.6
 208.1
47.5
 54.2
 103.4
 103.5
Preferred dividend requirements2.6
 2.6
 7.7
 7.7
2.5
 2.5
 5.1
 5.1
Earnings available for common stock
$126.5
 
$120.4
 
$224.9
 
$200.4

$45.0
 
$51.7
 
$98.3
 
$98.4
Earnings per share data is not disclosed given Alliant Energy Corporation is the sole shareowner of all shares of IPL’s common stock outstanding during the periods presented.
TheRefer to accompanying Combined Notes to Condensed Consolidated Financial Statements are an integral part of these statements.Statements.


 6 
Table of Contents


INTERSTATE POWER AND LIGHT COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
September 30,
2018		 December 31,
2017		June 30,
2019		 December 31,
2018
(in millions, except per
share and share amounts)
(in millions, except per
share and share amounts)
ASSETS  
Current assets:      
Cash and cash equivalents
$232.7
 
$3.6

$5.0
 
$9.7
Accounts receivable, less allowance for doubtful accounts277.3
 264.9
231.7
 153.5
Production fuel, at weighted average cost42.6
 52.4
37.8
 44.8
Gas stored underground, at weighted average cost25.4
 20.3
11.8
 26.1
Materials and supplies, at weighted average cost59.3
 60.6
58.0
 55.4
Regulatory assets40.3
 41.9
33.8
 39.2
Other38.0
 32.3
21.7
 43.1
Total current assets715.6
 476.0
399.8
 371.8
Property, plant and equipment, net6,432.9
 5,926.2
7,080.4
 6,781.5
Other assets:      
Regulatory assets1,209.6
 1,189.7
1,330.7
 1,239.8
Deferred charges and other20.1
 14.1
19.6
 18.3
Total other assets1,229.7
 1,203.8
1,350.3
 1,258.1
Total assets
$8,378.2
 
$7,606.0

$8,830.5
 
$8,411.4
LIABILITIES AND EQUITY  
Current liabilities:      
Current maturities of long-term debt
$250.0
 
$350.0
Commercial paper
$—
 
$50.4
Accounts payable279.0
 220.3
216.8
 304.9
Accounts payable to associated companies43.0
 28.8
Regulatory liabilities95.9
 69.7
82.1
 90.0
Accrued taxes64.7
 45.8
Other173.8
 187.7
87.8
 87.2
Total current liabilities798.7
 827.7
494.4
 607.1
Long-term debt, net (excluding current portion)2,551.8
 2,056.0
Long-term debt, net2,850.5
 2,552.3
Other liabilities:      
Deferred tax liabilities933.0
 910.7
971.2
 957.3
Regulatory liabilities666.7
 685.7
637.8
 664.9
Pension and other benefit obligations168.3
 173.8
171.0
 178.4
Other221.0
 242.4
360.5
 220.7
Total other liabilities1,989.0
 2,012.6
2,140.5
 2,021.3
Commitments and contingencies (Note 13)


 

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 outstanding33.4
 33.4
33.4
 33.4
Additional paid-in capital2,027.8
 1,797.8
2,322.8
 2,222.8
Retained earnings777.5
 678.5
788.9
 774.5
Total Interstate Power and Light Company common equity2,838.7
 2,509.7
3,145.1
 3,030.7
Cumulative preferred stock200.0
 200.0
200.0
 200.0
Total equity3,038.7
 2,709.7
3,345.1
 3,230.7
Total liabilities and equity
$8,378.2
 
$7,606.0

$8,830.5
 
$8,411.4


TheRefer to accompanying Combined Notes to Condensed Consolidated Financial Statements are anintegral part of these statements.Statements.


 7 
Table of Contents


INTERSTATE POWER AND LIGHT COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
For the Nine MonthsFor the Six Months
Ended September 30,Ended June 30,
2018 20172019 2018
(in millions)(in millions)
Cash flows from operating activities:      
Net income
$232.6
 
$208.1

$103.4
 
$103.5
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization209.2
 181.0
159.7
 135.3
Deferred tax expense (benefit) and tax credits(11.7) 9.6
Other(18.6) 26.2
(14.9) (10.3)
Other changes in assets and liabilities:      
Accounts receivable(353.2) (328.7)(209.3) (206.2)
Regulatory assets14.0
 (107.8)
Accounts payable(34.5) 11.6
(17.0) (29.3)
Regulatory liabilities7.5
 (49.6)
Accrued taxes18.9
 (2.1)
Deferred income taxes22.9
 88.9
25.3
 (17.8)
Other(41.0) 8.7
34.6
 30.1
Net cash flows from operating activities38.9
 38.4
89.0
 12.8
Cash flows used for investing activities:      
Construction and acquisition expenditures(635.2) (470.1)(449.5) (391.1)
Cash receipts on sold receivables337.2
 432.1
125.5
 232.5
Other(30.9) (21.6)(30.5) (20.5)
Net cash flows used for investing activities(328.9) (59.6)(354.5) (179.1)
Cash flows from financing activities:      
Common stock dividends(125.9) (117.0)(83.9) (84.0)
Capital contributions from parent230.0
 100.0
100.0
 130.0
Proceeds from issuance of long-term debt500.0
 —
300.0
 —
Payments to retire long-term debt(100.0) —
Net change in commercial paper—
 44.0
(50.4) 125.0
Other15.0
 (2.6)(6.2) (6.6)
Net cash flows from financing activities519.1
 24.4
259.5
 164.4
Net increase in cash, cash equivalents and restricted cash229.1
 3.2
Net decrease in cash, cash equivalents and restricted cash(6.0) (1.9)
Cash, cash equivalents and restricted cash at beginning of period7.2
 4.2
12.4
 7.2
Cash, cash equivalents and restricted cash at end of period
$236.3
 
$7.4

$6.4
 
$5.3
Supplemental cash flows information:      
Cash (paid) refunded during the period for:      
Interest
($89.1) 
($84.1)
($58.3) 
($60.2)
Income taxes, net
($2.4) 
$13.2

$12.1
 
($0.5)
Significant non-cash investing and financing activities:      
Accrued capital expenditures
$142.4
 
$71.0

$117.4
 
$93.4
Beneficial interest obtained in exchange for securitized accounts receivable
$243.7
 
$115.3

$214.6
 
$208.3


TheRefer to accompanying Combined Notes to Condensed Consolidated Financial Statements are an integral part of these statements.Statements.


 8 
Table of Contents


WISCONSIN POWER AND LIGHT COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
For the Three Months For the Nine MonthsFor the Three Months For the Six Months
Ended September 30, Ended September 30,Ended June 30, Ended June 30,
2018 2017 2018 20172019 2018 2019 2018
(in millions)(in millions)
Revenues:              
Electric utility
$352.0
 
$351.6
 
$959.2
 
$981.5

$298.9
 
$304.2
 
$622.5
 
$607.2
Gas utility18.1
 18.4
 122.0
 115.5
26.8
 26.4
 118.0
 103.9
Other0.6
 0.2
 2.0
 1.1
0.4
 0.2
 0.8
 1.4
Total revenues370.7
 370.2
 1,083.2
 1,098.1
326.1
 330.8
 741.3
 712.5
Operating expenses:              
Electric production fuel and purchased power105.3
 100.1
 285.5
 284.7
81.5
 91.6
 171.0
 180.2
Electric transmission service36.3
 42.8
 107.2
 128.3
35.0
 35.3
 70.3
 70.9
Cost of gas sold4.9
 5.1
 66.2
 60.9
9.6
 10.7
 67.9
 61.3
Other operation and maintenance54.2
 63.3
 172.8
 171.8
62.4
 62.3
 125.9
 118.6
Depreciation and amortization54.1
 53.6
 164.2
 158.8
59.1
 55.5
 117.7
 110.1
Taxes other than income taxes11.7
 11.8
 35.7
 35.3
11.5
 12.0
 23.4
 24.0
Total operating expenses266.5
 276.7
 831.6
 839.8
259.1
 267.4
 576.2
 565.1
Operating income104.2
 93.5
 251.6
 258.3
67.0
 63.4
 165.1
 147.4
Other (income) and deductions:              
Interest expense24.2
 23.1
 73.5
 69.1
26.1
 24.6
 51.9
 49.3
Allowance for funds used during construction(7.8) (4.9) (23.5) (11.6)(10.4) (8.2) (20.0) (15.7)
Other1.3
 2.5
 3.4
 7.3
1.6
 1.0
 3.2
 2.1
Total other (income) and deductions17.7
 20.7
 53.4
 64.8
17.3
 17.4
 35.1
 35.7
Income before income taxes86.5
 72.8
 198.2
 193.5
49.7
 46.0
 130.0
 111.7
Income taxes10.2
 23.0
 28.1
 60.1
7.7
 6.2
 22.3
 17.9
Earnings available for common stock
$76.3
 
$49.8
 
$170.1
 
$133.4

$42.0
 
$39.8
 
$107.7
 
$93.8
Earnings per share data is not disclosed given Alliant Energy Corporation is the sole shareowner of all shares of WPL’s common stock outstanding during the periods presented.
TheRefer to accompanying Combined Notes to Condensed Consolidated Financial Statements are an integral part of these statements.Statements.


 9 
Table of Contents


WISCONSIN POWER AND LIGHT COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
September 30,
2018		 December 31,
2017		June 30,
2019		 December 31,
2018
(in millions, except per
share and share amounts)
(in millions, except per
share and share amounts)
ASSETS  
Current assets:      
Cash and cash equivalents
$6.4
 
$23.1

$163.2
 
$8.7
Accounts receivable, less allowance for doubtful accounts180.6
 212.2
180.9
 190.1
Production fuel, at weighted average cost18.7
 19.9
30.0
 16.6
Gas stored underground, at weighted average cost17.6
 24.2
21.1
 22.9
Materials and supplies, at weighted average cost44.5
 42.1
44.3
 42.9
Regulatory assets41.9
 42.4
44.9
 40.6
Prepaid gross receipts tax30.7
 41.3
Other60.5
 13.4
108.8
 62.8
Total current assets400.9
 418.6
593.2
 384.6
Property, plant and equipment, net5,183.3
 4,917.9
5,377.5
 5,287.3
Other assets:      
Regulatory assets402.9
 392.7
397.5
 417.7
Deferred charges and other57.1
 27.3
21.8
 62.9
Total other assets460.0
 420.0
419.3
 480.6
Total assets
$6,044.2
 
$5,756.5

$6,390.0
 
$6,152.5
LIABILITIES AND EQUITY  
Current liabilities:      
Current maturities of long-term debt
$250.0
 
$—

$400.0
 
$250.0
Commercial paper38.4
 25.0
—
 105.5
Accounts payable162.4
 201.7
150.0
 180.9
Regulatory liabilities55.8
 70.3
84.8
 52.7
Other95.1
 99.2
109.1
 105.5
Total current liabilities601.7
 396.2
743.9
 694.6
Long-term debt, net (excluding current portion)1,584.5
 1,833.4
1,781.8
 1,584.9
Other liabilities:      
Deferred tax liabilities579.6
 522.4
615.1
 582.0
Regulatory liabilities687.2
 671.5
638.2
 685.6
Capital lease obligations - Sheboygan Falls Energy Facility62.0
 70.2
Finance lease obligations - Sheboygan Falls Energy Facility55.8
 60.0
Pension and other benefit obligations207.0
 213.7
210.5
 217.7
Other175.6
 167.6
159.5
 178.2
Total other liabilities1,711.4
 1,645.4
1,679.1
 1,723.5
Commitments and contingencies (Note 13)

 
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 outstanding66.2
 66.2
66.2
 66.2
Additional paid-in capital1,309.0
 1,109.0
1,309.0
 1,309.0
Retained earnings771.4
 706.3
810.0
 774.3
Total Wisconsin Power and Light Company common equity2,146.6
 1,881.5
2,185.2
 2,149.5
Total liabilities and equity
$6,044.2
 
$5,756.5

$6,390.0
 
$6,152.5


TheRefer to accompanying Combined Notes to Condensed Consolidated Financial Statements are an integral part of these statements.Statements.


 10 
Table of Contents


WISCONSIN POWER AND LIGHT COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
For the Nine MonthsFor the Six Months
Ended September 30,Ended June 30,
2018 20172019 2018
(in millions)(in millions)
Cash flows from operating activities:      
Net income
$170.1
 
$133.4

$107.7
 
$93.8
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization164.2
 158.8
117.7
 110.1
Deferred tax expense and tax credits50.3
 60.1
21.7
 14.5
Other(12.0) 4.8
(4.7) (8.1)
Other changes in assets and liabilities:      
Accounts receivable29.7
 41.8
7.6
 39.0
Regulatory assets13.4
 (1.1)
Accounts payable(19.6) (10.4)
Regulatory liabilities(18.4) 2.5
Other(70.2) (36.6)(3.8) (15.5)
Net cash flows from operating activities345.5
 361.2
208.2
 225.9
Cash flows used for investing activities:      
Construction and acquisition expenditures(445.0) (454.0)(203.0) (308.5)
Other(23.7) (18.6)(15.0) (17.0)
Net cash flows used for investing activities(468.7) (472.6)(218.0) (325.5)
Cash flows from financing activities:      
Common stock dividends(105.0) (94.5)(72.0) (70.1)
Capital contributions from parent200.0
 40.0
—
 150.0
Proceeds from issuance of long-term debt350.0
 —
Net change in commercial paper13.4
 172.3
(105.5) 1.4
Other(1.7) (9.8)(7.4) (1.3)
Net cash flows from financing activities106.7
 108.0
165.1
 80.0
Net decrease in cash, cash equivalents and restricted cash(16.5) (3.4)
Net increase (decrease) in cash, cash equivalents and restricted cash155.3
 (19.6)
Cash, cash equivalents and restricted cash at beginning of period24.2
 6.9
9.2
 24.2
Cash, cash equivalents and restricted cash at end of period
$7.7
 
$3.5

$164.5
 
$4.6
Supplemental cash flows information:      
Cash paid during the period for:      
Interest
($68.5) 
($68.1)
($51.7) 
($49.4)
Income taxes, net
($11.2) 
($20.2)
($6.5) 
($7.9)
Significant non-cash investing and financing activities:      
Accrued capital expenditures
$86.2
 
$122.3

$66.4
 
$89.6


TheRefer to accompanying Combined Notes to Condensed Consolidated Financial Statements are an integral part of these statements.Statements.


 11 
Table of Contents


ALLIANT ENERGY CORPORATION
INTERSTATE POWER AND LIGHT COMPANY
WISCONSIN POWER AND LIGHT COMPANY


COMBINED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the latest combined Annual Report on Form 10-K.10-K.


In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the ninesix months ended SeptemberJune 30, 20182019 are not necessarily indicative of results that may be expected for the year ending December 31, 2018.2019. A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes, including modifications to the presentation of the components of net periodic benefit costs for defined benefit pension and other postretirement plans in the income statements as discussed in Note 1(d), restricted cash and cash receipts on sold receivables in the cash flows statements as discussed in Note 1(d), and segment reporting as discussed in Note 14.


Discontinued operations reported in Alliant Energy’s income statements is related to various warranty claims associated with the sale of RMT, Inc. in 2013, which have resulted in operating expenses and income subsequent to the sale.

NOTE 1(b) Cash and Cash Equivalents and Restricted Cash - At SeptemberJune 30, 2018,2019, Alliant Energy’s and IPL’sWPL’s cash and cash equivalents included $228$161.8 million and $160.4 million of money market fund investments, with a 2% interest rate. At September 30, 2018rates of 2.4% and December 31, 2017, restricted cash primarily related to deposits with trustees and borrowing requirements in Sheboygan Power, LLC’s debt agreement. Refer to Note 1(d) for discussion of revisions to the cash flows statements to include immaterial restricted cash amounts.2.4%, respectively.


NOTE 1(c) Revenue RecognitionLeases -
Utility - RevenuesThe determination of whether an arrangement qualifies as a lease occurs at the inception of the arrangement. Arrangements that qualify as leases are classified as either operating or finance. Operating and finance lease liabilities represent obligations to make payments arising from Alliant Energy’s utility business are primarily from retailthe lease. Operating and wholesale electricfinance lease assets represent the right to use an underlying asset for the lease term and gas sales to customers. Utility revenues are recognized over time as services are rendered or commodities are delivered to customers, and include billed and unbilled components. The billed component isat the lease commencement date based on the reading of customers’ meters, which occurs on a systematic basis throughout each reporting period and represents the fairpresent value of the services provided or commodities delivered. The unbilled component is estimated and recordedlease payments over the lease term. Leases with initial terms less than 12 months are not recognized as leases. For operating leases, an incremental borrowing rate, as determined at the endlease commencement date, is used to determine the present value of each reporting period based on estimated amountsthe lease payments. For finance leases, the rate implicit in the lease is used to determine the present value of energy deliveredthe lease payments. Lease terms include options to customers sinceextend or terminate the date of each customer’s last meter reading. The unbilled revenuelease when it is based on estimates of daily system demand volumes, customer usage by class, temperature impacts, line losses and the most recent customer rates.

IPL and WPL accrue revenues from their wholesale customers to the extentreasonably certain that the actual net revenue requirements calculated in accordance with FERC-approved formula rates for the reporting period are higher or lower than the amounts billed to wholesale customers during such period. Regulatory assets or regulatory liabilities are recorded as the offset for these accrued revenues under formulaic rate-making programs. As of September 30, 2018, the related amounts accrued for IPL and WPL were not material.

IPL and WPL participate in bid/offer-based wholesale energy and ancillary services markets operated by MISO. The MISO transactions are grouped together, resulting in a net supply to or net purchase from MISO for each hour of each day. The net supply to MISOoption will be exercised. Operating lease expense is recorded as bulk power sales in “Electric utility revenues” and the net purchase from MISO is recorded in “Electric production fuel and purchased power” in the income statements.

Non-utility - Revenues from Alliant Energy’s non-utility businesses are primarily from its Transportation business and are recognized over time as services are rendered or goods are delivered to customers.


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Taxes Collected from Customers - Sales or various other taxes collected by certain of Alliant Energy’s subsidiaries on behalf of other agencies are recorded on a netstraight-line basis over the expected lease term. Finance lease expense is comprised of depreciation and interest expenses. Finance lease assets are not included in revenues.depreciated on a straight-line basis over the shorter of the useful life of the underlying asset or the lease term.

Other - Alliant Energy, IPL and WPL do not disclose the value of unsatisfied performance obligations for: (i) contracts with an original expected length of one year or less; and (ii) contracts for which revenue is recognized at the amount to which they have the right to invoice for goods delivered or services performed.


NOTE 1(d) New Accounting Standards -
Revenue RecognitionCredit Losses - In May 2014,June 2016, the Financial Accounting Standards Board issued an accounting standard providing principlesrequiring use of a current expected credit loss model rather than an incurred loss method, which is intended to result in more timely recognition of credit losses on trade receivables and certain other assets. Alliant Energy, IPL and WPL will adopt this standard on January 1, 2020 using the modified retrospective method of adoption, which requires cumulative effect adjustments to retained earnings on January 1, 2020 upon adoption. Alliant Energy, IPL and WPL are currently evaluating the impact of this standard on their financial statements.

Cloud Computing Arrangements - In August 2018, the Financial Accounting Standards Board issued an accounting standard that clarifies capitalization and presentation requirements of implementation costs incurred in cloud computing arrangements. Alliant Energy, IPL and WPL will adopt this standard on January 1, 2020 and are currently evaluating the impact of this standard on their financial statements.

Leases - In February 2016, the Financial Accounting Standards Board issued an accounting standard requiring lease assets and lease liabilities, including operating leases, to be recognized on the balance sheet. The accounting for recognizing revenue for the transfer of promised goods or servicescapital leases, now referred to customersas finance leases, remains unchanged with the consideration to which the entity expects to be entitled in exchange for those goods or services.adoption of this standard. Alliant Energy, IPL and WPL adopted this standard on January 1, 20182019 using the modified retrospective method of adoption, whichan optional transition approach and there was applied to contracts with customers that were completed subsequent to January 1, 2018. Alliant Energy, IPL and WPL utilized a portfolio approach upon adoption, which involved evaluating portfolios of contracts with similar characteristics, where the effects of applying the standard were not expected to be materially different than evaluating on an individual contract basis. Upon adoption, there were no cumulative effect adjustments madeadjustment to the balance sheets as of January 1, 2018 retained earnings balances. In addition, prior2019. Prior period amounts have not been restated to reflect the adoption of this standard and continue to be reported under the accounting standards in effect for those periods. Upon transition to the new standard, Alliant Energy, IPL and WPL did not have a material change in revenue recognition, including the timing and pattern of revenue recognition, as a result of the adoption of this standard. Refer to Notes 1(c) and 8 for further discussion of revenue recognition.

Leases - In February 2016, the Financial Accounting Standards Board issued an accounting standard requiring lease assets and lease liabilities, including operating leases, to be recognized on the balance sheet for all leases with terms longer than 12 months. The standard also requires disclosure of key information about leasing arrangements. Alliant Energy, IPL and WPL will adopt this standard on January 1, 2019 using the modified retrospective method of adoption, which requires cumulative effect adjustments to the balance sheets on January 1, 2019 upon adoption. Prior period amounts will continue to be reported under the accounting standards in effect for those periods. Alliant Energy, IPL and WPL currently plan to electelected the land easement transition practical expedient, for which existing land easements that were not previously accounted for as leases under the original accounting standards dodid not need to be evaluated under the

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new accounting standard. In addition, Alliant Energy, IPL and WPL evaluated land easements that were previously accounted for as leases and determined that the majority of these land easements relate to joint-use land sites, and do not currently expect them to meet the criteria for leases under the new accounting standard. Therefore, these land easement arrangements willare no longer be reflected as operating leases effective January 1, 2019. Refer to Note 7 for further discussion of leases.

Cash Flows Statements - On January 1, 2018, Alliant Energy and IPL and WPL will continue to evaluate the impact of this standard and do not currently expect a material change to their financial condition or results of operations as a result of adopting the new lease accounting standard.

Presentation of Net Periodic Pension and Postretirement Benefit Costs - In March 2017, the Financial Accounting Standards Board issuedadopted an accounting standard amending the income statement presentation of the components of net periodic benefit costs for defined benefit pension and other postretirement plans. The standard requires entities to (1) disaggregate the current service cost component from the other components of net periodic benefit costs and present it with other employee compensation costs in the income statement; and (2) include the other components in the income statement outside of operating income. Only the service cost component of net periodic benefit costs is eligible for capitalization into property, plant and equipment; however, IPL and WPL, as rate-regulated entities, capitalize the other components of net periodic benefit costs into regulatory assets or regulatory liabilities. Alliant Energy, IPL and WPL adopted this standard on January 1, 2018 and used the retrospective method of adoption for the presentation requirements and prospective method of adoption for the capitalization requirements. Alliant Energy, IPL and WPL used the actual net periodic benefit costs adjusted for approximately 40% of net periodic benefit costs allocated to capital projects for the retrospective method of adoption for the presentation requirements. The change in presentation resulted in a decrease in “Other operation and maintenance” expenses and an increase in “Other (income) and deductions” in Alliant Energy’s, IPL’s and WPL’s income statements of $4.8 million, $2.0 million and $2.8 million for the three months ended September 30, 2017, and $13.5 million, $5.5 million and $7.9 million for the nine months ended September 30, 2017, respectively.

Cash Flows Statements - In August 2016, the Financial Accounting Standards Board issued an accounting standard providing specific guidance on several cash flow classification matters. The accounting standardthat requires classification of the consideration received for the beneficial interest obtained for transferring accounts receivable from IPL’s sales of accounts receivable program as an investing activity, instead of an operating activity. Alliant Energy and IPL and WPL retrospectively adopted this standard on January 1, 2018, andcurrently use a method of presentation that allocates cash flows between operating and investing activities based on daily transactional activity. For the nine months ended September 30, 2017, Alliant Energy and

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IPL reclassified $432.1 million of the related cash received from IPL’s sales of accounts receivable program from operating activities to investing activities based on daily transactional activity. The related impact on Alliant Energy’s and IPL’s cash flows statements for the year ended December 31, 2017 was $461.8 million. For the three months ended March 31, 2018 and the six months ended June 30, 2018, Alliant Energy and IPL and WPLinitially utilized a method of presentation that allocated cash flows between operating and investing activities based on monthly transactional activity. TheFor the six months ended June 30, 2018, the change in method of presentation to daily transactional activity increasesincreased Alliant Energy’s operating cash flows to $156.3 million and $274.4 million, and IPL’s operating cash flows to $1.8by $339.4 million, and $12.8 million, for the three months ended March 31, 2018 and six months ended June 30, 2018, respectively. The change in method of presentation to daily transactional activity increases Alliant Energy’s operating cash flows to $173.5 million and $249.8 million, and IPL’s operating cash flows increased to $16.1$274.4 million and $15.8$12.8 million, for the three months ended March 31, 2017 and six months ended June 30, 2017, respectively.

In November 2016, the Financial Accounting Standards Board issued an accounting standard requiring restricted cash to be included within beginning-of-period and end-of-period cash and cash equivalents in the cash flows statements. Alliant Energy, IPL and WPL adopted this standard on January 1, 2018, which was applied retrospectively. Refer to Note 1(b) for further discussion of restricted cash.


NOTE 2. REGULATORY MATTERS
Regulatory Assets and Regulatory Liabilities -
Regulatory assets were comprised of the following items (in millions):
 Alliant Energy IPL WPL
 June 30,
2019		 December 31,
2018		 June 30,
2019		 December 31,
2018		 June 30,
2019		 December 31,
2018
Tax-related
$815.5
 
$820.6
 
$780.2
 
$783.1
 
$35.3
 
$37.5
Pension and OPEB costs522.9
 542.3
 264.7
 274.0
 258.2
 268.3
Asset retirement obligations111.0
 110.8
 76.2
 76.3
 34.8
 34.5
IPL’s DAEC PPA amendment107.1
 —
 107.1
 —
 —
 —
EGUs retired early102.8
 111.6
 51.7
 55.4
 51.1
 56.2
Derivatives30.6
 28.0
 13.4
 15.1
 17.2
 12.9
Emission allowances22.4
 23.6
 22.4
 23.6
 —
 —
Other94.6
 100.4
 48.8
 51.5
 45.8
 48.9
 
$1,806.9
 
$1,737.3
 
$1,364.5
 
$1,279.0
 
$442.4
 
$458.3

 Alliant Energy IPL WPL
 September 30,
2018		 December 31,
2017		 September 30,
2018		 December 31,
2017		 September 30,
2018		 December 31,
2017
Tax-related
$798.3
 
$778.2
 
$762.4
 
$750.5
 
$35.9
 
$27.7
Pension and OPEB costs519.8
 548.0
 261.2
 274.4
 258.6
 273.6
Asset retirement obligations111.6
 109.3
 77.3
 72.5
 34.3
 36.8
EGUs retired early110.4
 63.8
 57.2
 31.6
 53.2
 32.2
Derivatives26.3
 45.3
 13.3
 21.8
 13.0
 23.5
Emission allowances24.3
 25.5
 24.3
 25.5
 —
 —
Other104.0
 96.6
 54.2
 55.3
 49.8
 41.3
 
$1,694.7
 
$1,666.7
 
$1,249.9
 
$1,231.6
 
$444.8
 
$435.1


Regulatory liabilities were comprised of the following items (in millions):
 Alliant Energy IPL WPL
 June 30,
2019		 December 31,
2018		 June 30,
2019		 December 31,
2018		 June 30,
2019		 December 31,
2018
Tax-related
$853.8
 
$890.6
 
$365.6
 
$390.1
 
$488.2
 
$500.5
Cost of removal obligations399.2
 401.2
 269.5
 273.3
 129.7
 127.9
Electric transmission cost recovery101.5
 104.0
 52.7
 47.7
 48.8
 56.3
WPL’s earnings sharing mechanism25.2
 25.4
 —
 —
 25.2
 25.4
Commodity cost recovery22.7
 16.8
 11.9
 11.9
 10.8
 4.9
Other40.5
 55.2
 20.2
 31.9
 20.3
 23.3
 
$1,442.9
 
$1,493.2
 
$719.9
 
$754.9
 
$723.0
 
$738.3

 Alliant Energy IPL WPL
 September 30,
2018		 December 31,
2017		 September 30,
2018		 December 31,
2017		 September 30,
2018		 December 31,
2017
Tax-related
$891.1
 
$899.4
 
$389.9
 
$399.5
 
$501.2
 
$499.9
Cost of removal obligations401.0
 410.0
 274.0
 274.5
 127.0
 135.5
Electric transmission cost recovery97.0
 90.4
 37.9
 26.4
 59.1
 64.0
Commodity cost recovery20.1
 21.0
 13.6
 14.6
 6.5
 6.4
IPL’s tax benefit riders13.0
 25.0
 13.0
 25.0
 —
 —
Other83.4
 51.4
 34.2
 15.4
 49.2
 36.0
 
$1,505.6
 
$1,497.2
 
$762.6
 
$755.4
 
$743.0
 
$741.8


Tax-relatedIPL’s DAEC PPA Amendment-During In January 2019, IPL incurred an obligation to make a September 2020 buyout payment of $110 million in exchange for shortening the nine months ended September 30, 2018,term of IPL’s DAEC nuclear generation PPA by 5 years. The IUB approved placing the buyout payment in a regulatory asset account, which will be recovered from IPL’s retail customers over a 5-year period following the payment. The offsetting obligation has been discounted and is recorded in “Other liabilities” on Alliant Energy’s and IPL’s tax-related regulatory assets increased primarily duebalance sheets.

Utility Rate Reviews
IPL’s Retail Electric Rate Review (2020 Forward-looking Test Period) - In March 2019, IPL filed a request with the IUB to property-related differencesincrease annual electric base rates for qualifying repairs expenditures. Alliant Energy’sits Iowa retail electric customers by $204 million, based on a 2020 forward-looking Test Period. The requested increase would take place in two phases, $90 million through interim rates and the remaining $114 million through final rates. The key drivers for IPL’s tax-related regulatory assets are generally impactedrequest included recovery of capital projects, including new wind generation. IPL currently expects the proposed retail electric base rate increase to be partially offset by cost reductions in non-base rate factors, including fuel-related and energy efficiency costs. IPL concurrently filed for interim retail electric rates based on 2018 historical data as adjusted for certain property-related differences at IPL for which deferred tax is not recordedknown and measurable changes occurring in the income statement pursuant to Iowa rate-making principles. Deferred tax amounts for such property-related differences at IPL are recorded to regulatory assets, along with the necessary revenue requirement tax gross-ups.first quarter of 2019. An interim retail electric base rate increase of $90 million, on an annual basis, was implemented effective April 1, 2019.

Partially offsetting the increase to tax-related regulatory assets from property-related differences discussed above was a decrease due to the impacts of Iowa tax reform. In May 2018, Iowa tax reform was enacted, resulting in a reduction in the Iowa income tax rate from 12% to 9.8%, effective January 1, 2021 and the elimination of the deduction for federal income taxes, effective January 1, 2022. Alliant Energy’s and IPL’s deferred tax assets and liabilities as of June 30, 2018 were remeasured based upon the new tax rate. Alliant Energy and IPL recorded the net changes from remeasuring deferred tax assets and liabilities as a change in regulatory assets or regulatory liabilities. During the nine months ended September 30, 2018, as a result of Iowa tax reform, Alliant Energy’s and IPL’s tax-related regulatory assets decreased $33.7 million and tax-related regulatory liabilities increased $7.3 million.



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Electric generating units retired early - In June 2018, IPL retiredImplementing interim rates does not require regulatory approval; however, interim rates are subject to refund pending the natural gas-fired M.L. Kapp Generating Station and reclassified the remaining net book value of this EGU from property, plant and equipment to a regulatory asset on Alliant Energy’s and IPL’s balance sheets. The remaining net book value, which was $29 million as of September 30, 2018, is currently included in IPL’s rate base and IPL is earning a return of and a return on the outstanding balance. IPL expects continued recovery of the remaining net book value to be addressed in a future rate review.

In September 2018, WPL retired the coal-fired Edgewater Unit 4 and reclassified the remaining net book value of this EGU from property, plant and equipment to a regulatory asset on Alliant Energy’s and WPL’s balance sheets. The remaining net book value, which was $24 million as of September 30, 2018, is currently included in WPL’s rate base and WPL is earning a return of and a return on the outstanding balance. WPL will continue to recover the remaining net book value of this EGU from both its retail and wholesale customers over a 10-year period beginning January 1, 2019 pursuant to PSCW and FERC orders.

Other - In January 2018, the IUB issued an order requiring IPL and other investor-owned utilities in Iowa to track all calculated differences since January 1, 2018 resulting from Federal Tax Reform, such that any over-collections can be refunded to its customers at a future date. Pursuant to IUB approval, the retail electric portion of IPL’s Federal Tax Reform benefits is currently being refunded to customers, beginning May 2018. In January 2018, the PSCW issued an order directing WPL and other investor-owned utilities in Wisconsin to defer the revenue requirement impacts resulting from Federal Tax Reform since its inception. Pursuant to PSCW approval, the retail electric and gas portions of WPL’s Federal Tax Reform benefits are currently being refunded to customers, beginning June 2018. Alliant Energy, IPL, and WPL refunded Federal Tax Reform benefits of $20 million, $9 million and $11 million for the three months ended September 30, 2018, and $47 million, $16 million and $31 million for the nine months ended September 30, 2018, respectively, which were recorded as a reduction in revenues. As of September 30, 2018, Alliant Energy’s, IPL’s and WPL’s remaining deferrals related to Federal Tax Reform were $22 million, $19 million and $3 million, respectively, which are included in “Other” in the regulatory liabilities table above.

In December 2016, WPL received an order from the PSCW related to its retail electric and gasIUB’s final rate review fordecision.

Intervenor testimony was filed in August 2019 addressing, among other things, the 2017/2018 Test Period. The order included provisions that require WPL to defer a portion of its earnings if its annual regulatory return on common equity exceeds certain levelspercentage used to calculate the interim rate increase implemented in 2018. AsApril 2019. Intervenors have also filed testimony addressing various positions on rate design and revenue requirement, including authorized returns on production tax credits carryforwards, for final rates.

The IUB generally must decide on requests for retail rate changes within 10 months of September 30, 2018, Alliant Energy and WPL deferred $12the date of the application for which changes are filed. IPL currently expects a final decision from the IUB in the fourth quarter of 2019 on the interim rate increase, as well as the remaining $114 million of WPL’s 2018 earnings related to this provision,final rates, which is included in “Other”would be effective in the regulatory liabilities table above.first quarter of 2020.


Utility Rate Reviews -
IPL’s Retail Gas Rate Review (2017(2020 Forward-looking Test Year)Period) - In May 2018,March 2019, IPL filed a request with the IUB to increase annual gas base rates for its Iowa retail gas customers by $20$21 million, or approximately 8%. The request was based on a 2017 historical2020 forward-looking Test Year as adjusted for certain known and measurable changes occurring up to 12 months after the commencement of the proceeding.Period. The key drivers for the filingIPL’s request included recovery of capital projects, partially offset byprojects. IPL currently expects the benefits of Federal Tax Reform. An interim retail gas rate increase of $11 million, or approximately 5%, on an annual basis, was implemented effective May 14, 2018. The interim rate increase does not require regulatory approval; however, it will be subject to refund pending determination of final rates. In September 2018, IPL and parties to the proceeding filed a unanimous settlement agreement with the IUB, proposing an annualproposed retail gas base rate increase to be partially offset by cost reductions in non-base rate factors, including lower cost of $14 million, or approximately 6%.gas sold and energy efficiency costs. IPL currently expects a final decision from the IUB in 2018the fourth quarter of 2019 with final rates effective by late 2018 orin the first quarter of 2019. The IUB must issue a decision on requests for retail rate changes within 10 months from the date the application is filed.2020.

IPL’s Retail Electric Rate Review (2016 Test Year) - In April 2017, IPL filed a request with the IUB to increase annual electric base rates for its Iowa retail electric customers. An interim retail electric base rate increase of $102 million, or approximately 7%, on an annual basis, was implemented effective April 13, 2017. In September 2017, IPL reached a settlement agreement with intervener groups for an annual electric base rate increase of $130 million, or approximately 9%. In February 2018, the IUB issued an order approving the settlement. Final rates were effective May 1, 2018.

WPL’s Retail Electric and Gas Rate Review (2019/2020 Test Period) - In September 2018, the PSCW issued an order approving WPL’s proposed settlement for its retail electric and gas rate review covering the 2019/2020 Test Period, which was based on a stipulated agreement between WPL and intervener groups. Under the settlement, WPL retail electric and gas base rates will not change from current levels through the end of 2020.


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NOTE 3. PROPERTY, PLANT AND EQUIPMENT
Utility -
Natural Gas-Fired Generation Project -
WPL’s West Riverside Energy Center - WPL is currently constructing West Riverside, an approximate 730 MW natural gas-fired combined-cycle EGU. Construction began in 2016 and is currently expected to be completed by the end of 2019. As of September 30, 2018, Alliant Energy and WPL recorded capitalized expenditures of $438 million and AFUDC of $35 million for West Riverside in “Property, plant and equipment, net” on their balance sheets. These capital expenditures reflect WPL’s portion of West Riverside. Certain electric cooperatives, which currently have wholesale power supply agreements with WPL, acquired approximately 60 MW of West Riverside in January 2018, and are funding their share of capital expenditures during construction. As part of the electric cooperatives’ acquisitions, the current wholesale power supply agreements with the various electric cooperatives were extended by at least four years until 2026 with automatic continuation of such agreements unless terminated by either party, with a five-year notice requirement.

Wind Generation -
IPL’s Expansion of Wind Generation - IPL currently plans to add up to 1,000 MW of new wind generation to its existing generation portfolio. These wind projects are expected to be placed into service in 2019 and 2020. As of September 30, 2018, Alliant Energy and IPL recorded capitalized expenditures of $645 million and AFUDC of $33 million for this expansion of wind generation in “Property, plant and equipment, net” on their balance sheets.

WPL’s Acquisition of Forward Wind Energy Center (FWEC) - In January 2018 and March 2018, WPL received approval from FERC and the PSCW, respectively, to acquire a partial ownership interest in the assets of FWEC, which is a 129 MW wind farm located in Wisconsin. In April 2018, WPL acquired 55 MW of the FWEC wind farm for approximately $74 million. As of the closing date, the estimated fair value of the assets purchased and the liabilities assumed by WPL were as follows (in millions):
Property, plant and equipment, net
$81
Liabilities7
Net assets acquired
$74


NOTE 4.3. RECEIVABLES
Sales of Accounts Receivable - IPL maintains a Receivables Purchase and Sale Agreement (Receivables Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. In March 2018, IPL amended and extended through March 2021 the purchase commitment from the third party to which it sells its receivables. Effective April 2018, the limit on cash proceeds fluctuates between $90 million and $110 million. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. As of SeptemberJune 30, 20182019, IPL had $109.0$83 million of available capacity under its sales of accounts receivable program. For the three and nine months ended September 30, 2018 and 2017, IPL’s costs incurred related to the sales of accounts receivable program were not material.

IPL’s maximum and average outstanding cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program for the three and ninesix months ended SeptemberJune 30 were as follows (in millions):
 Three Months Six Months
 2019 2018 2019 2018
Maximum outstanding aggregate cash proceeds
$25.0
 
$116.0
 
$108.0
 
$116.0
Average outstanding aggregate cash proceeds2.6
 52.3
 41.6
 56.7

 Three Months Nine Months
 2018 2017 2018 2017
Maximum outstanding aggregate cash proceeds
$110.0
 
$112.0
 
$116.0
 
$112.0
Average outstanding aggregate cash proceeds36.4
 66.2
 49.8
 58.7


The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):
September 30, 2018 December 31, 2017June 30, 2019 December 31, 2018
Customer accounts receivable
$179.0
 
$133.8

$138.3
 
$140.1
Unbilled utility revenues78.2
 112.7
90.5
 97.1
Other receivables0.1
 0.3
0.4
 0.1
Receivables sold to third party257.3
 246.8
229.2
 237.3
Less: cash proceeds1.0
 12.0
5.0
 108.0
Deferred proceeds256.3
 234.8
224.2
 129.3
Less: allowance for doubtful accounts12.6
 12.7
9.6
 9.9
Fair value of deferred proceeds
$243.7
 
$222.1

$214.6
 
$119.4


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As of SeptemberJune 30, 2018,2019, outstanding receivables past due under the Receivables Agreement were $35.8$27.1 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and ninesix months ended SeptemberJune 30 were as follows (in millions):
 Three Months Six Months
 2019 2018 2019 2018
Collections
$487.7
 
$483.7
 
$1,043.5
 
$1,000.7
Write-offs, net of recoveries2.6
 1.9
 8.1
 8.0



 Three Months Nine Months
 2018 2017 2018 2017
Collections
$549.5
 
$347.9
 
$1,550.2
 
$1,283.2
Write-offs, net of recoveries4.9
 3.5
 12.9
 10.4
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NOTE 5.4. INVESTMENTS AND ACQUISITIONS
Unconsolidated Equity Investments - Alliant Energy’s equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three and ninesix months ended SeptemberJune 30 was as follows (in millions):
 Three Months Six Months
 2019 2018 2019 2018
ATC Holdings
($10.0) 
($7.8) 
($19.5) 
($16.5)
Non-utility wind farm in Oklahoma(1.3) (2.5) (2.4) (14.6)
Other(1.4) (0.2) (1.7) (0.7)
 
($12.7) 
($10.5) 
($23.6) 
($31.8)

 Three Months Nine Months
 2018 2017 2018 2017
ATC Holdings
($8.9) 
($10.1) 
($25.4) 
($32.7)
Non-utility wind farm in Oklahoma0.1
 0.2
 (14.5) 0.2
Other(1.0) (0.2) (1.7) (0.4)
 
($9.8) 
($10.1) 
($41.6) 
($32.9)


Non-utility Wind Farm in OklahomaTransportation Acquisitions - Alliant Energy’s interest in a non-utility wind farm in Oklahoma commenced in July 2017. As a result, there was no corresponding equity income recognized duringIn the first halfquarter of 2017. The equity income recognized during the nine months ended September 30, 2018 was primarily related to the impacts2019, Alliant Energy, through its wholly-owned non-utility subsidiaries, completed acquisitions of Federal Tax Reform. The liquidation method utilized to recognize Alliant Energy’s sharefreight management companies located in Cedar Rapids, Iowa and Stoughton, Wisconsin. These acquisitions were purchased for $21 million, including contingent consideration of the wind farm’s earnings includes utilizing the federal income tax rate in effect as of the end of the measurement period. The lower federal income tax rate effective as of January 1, 2018 resulted in an acceleration of earnings attributable to Alliant Energy’s interest in the Oklahoma wind farm. This increase in earnings$8 million, which is expected to reverse over time.be paid within two years. The purchase price was largely allocated to intangibles and the remainder was allocated to working capital and property.


NOTE 6.5. COMMON EQUITY
Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows:
Shares outstanding, January 1, 20182019231,348,646236,063,279

At-the-market offering programEquity forward agreements4,171,0131,090,300

Shareowner Direct Plan issuances450,133268,755

Equity-based compensation plans (Note 10(b))
5,078101,478

Other(38,4232,738)
Shares outstanding, SeptemberJune 30, 20182019235,936,447237,521,074



Dividends declared per common share for Alliant Energy were $0.335 and $1.005 for the three and nine months ended September 30, 2018, and $0.315 and $0.945 for the three and nine months ended September 30, 2017.

At-the-market Offering ProgramEquity Forward Agreements - In MayDecember 2018, Alliant Energy filedentered into forward sale agreements with various counterparties in connection with a prospectus supplementpublic offering of 8,358,973 shares of Alliant Energy common stock. The initial forward sale price of $44.33 per share is subject to daily adjustment based on a floating interest rate factor, and will decrease by other fixed amounts specified in the forward sale agreements. During the six months ended June 30, 2019, Alliant Energy settled $48 million under which it may sell up to $175 millionthe forward sale agreements by delivering 1,090,300 shares of itsnewly issued Alliant Energy common stock through an at-the-market offering program. Asat a forward sale price of September 30, 2018,$44.13 per share. Alliant Energy issued 4,171,013 shares of common stock through this program and received cash proceeds of $173 million,used the net of $2 million in fees and commissions. The proceeds from the issuances of common stock were usedsettlement for general corporate purposes. As of June 30, 2019, 559,597 shares were included in the calculation of diluted EPS related to the remaining securities under the forward sale agreements. In July 2019, Alliant Energy currently has no plans to issue any additionalsettled $66 million under the forward sale agreements by delivering 1,500,000 shares of newly issued Alliant Energy common stock through this at-the-market offering program.at a forward sale price of $44.06 per share, and used the net proceeds for general corporate purposes.



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Changes in Shareowners’ Equity - A summary of changes in shareowners’ equity was as follows (in millions):
Alliant EnergyTotal 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 June 30, 2019             
Beginning balance, April 1
$2.4
 
$2,100.0
 
$2,587.3
 
$2.4
 
($9.7) 
$200.0
 
$4,882.4
Net income attributable to Alliant Energy common shareowners    94.6
       94.6
Common stock dividends ($0.355 per share)    (84.1)       (84.1)
Shareowner Direct Plan issuances

 6.0
         6.0
Equity-based compensation plans and other  2.4
     (0.3)   2.1
Other comprehensive loss, net of tax      (1.4)     (1.4)
Ending balance, June 30
$2.4
 
$2,108.4
 
$2,597.8
 
$1.0
 
($10.0) 
$200.0
 
$4,899.6
Three Months Ended June 30, 2018             
Beginning balance, April 1
$2.3
 
$1,851.4
 
$2,389.4
 
($0.5) 
($11.1) 
$200.0
 
$4,431.5
Net income attributable to Alliant Energy common shareowners    100.4
       100.4
Common stock dividends ($0.335 per share)    (77.3)       (77.3)
At-the-market offering program and Shareowner Direct Plan issuances  93.8
         93.8
Equity-based compensation plans and other  2.0
     (0.3)   1.7
Other comprehensive income, net of tax      0.6
     0.6
Ending balance, June 30
$2.3
 
$1,947.2
 
$2,412.5
 
$0.1
 
($11.4) 
$200.0
 
$4,550.7
Alliant EnergyTotal 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
Six Months Ended June 30, 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    219.7
       219.7
Common stock dividends ($0.71 per share)    (167.8)       (167.8)
Equity forward settlements and Shareowner Direct Plan issuances

 60.6
         60.6
Equity-based compensation plans and other  2.3
     (0.2)   2.1
Other comprehensive loss, net of tax      (0.7)     (0.7)
Ending balance, June 30
$2.4
 
$2,108.4
 
$2,597.8
 
$1.0
 
($10.0) 
$200.0
 
$4,899.6
Six Months Ended June 30, 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    221.3
       221.3
Common stock dividends ($0.67 per share)    (154.8)       (154.8)
At-the-market offering program and Shareowner Direct Plan issuances  100.1
         100.1
Equity-based compensation plans and other  1.6
     (0.3)   1.3
Other comprehensive income, net of tax      0.6
     0.6
Ending balance, June 30
$2.3
 
$1,947.2
 
$2,412.5
 
$0.1
 
($11.4) 
$200.0
 
$4,550.7

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IPLTotal IPL Common Equity    
   Additional   Cumulative  
 Common Paid-In Retained Preferred Total
 Stock Capital Earnings Stock Equity
Three Months Ended June 30, 2019         
Beginning balance, April 1
$33.4
 
$2,322.8
 
$785.8
 
$200.0
 
$3,342.0
Earnings available for common stock    45.0
   45.0
Common stock dividends    (41.9)   (41.9)
Ending balance, June 30
$33.4
 
$2,322.8
 
$788.9
 
$200.0
 
$3,345.1
Three Months Ended June 30, 2018         
Beginning balance, April 1
$33.4
 
$1,797.8
 
$683.3
 
$200.0
 
$2,714.5
Earnings available for common stock    51.7
   51.7
Common stock dividends    (42.1)   (42.1)
Capital contributions from parent  130.0
     130.0
Ending balance, June 30
$33.4
 
$1,927.8
 
$692.9
 
$200.0
 
$2,854.1
IPLTotal IPL Common Equity    
   Additional   Cumulative  
 Common Paid-In Retained Preferred Total
 Stock Capital Earnings Stock Equity
Six Months Ended June 30, 2019         
Beginning balance, January 1
$33.4
 
$2,222.8
 
$774.5
 
$200.0
 
$3,230.7
Earnings available for common stock    98.3
   98.3
Common stock dividends    (83.9)   (83.9)
Capital contributions from parent  100.0
     100.0
Ending balance, June 30
$33.4
 
$2,322.8
 
$788.9
 
$200.0
 
$3,345.1
Six Months Ended June 30, 2018         
Beginning balance, January 1
$33.4
 
$1,797.8
 
$678.5
 
$200.0
 
$2,709.7
Earnings available for common stock    98.4
   98.4
Common stock dividends    (84.0)   (84.0)
Capital contributions from parent  130.0
     130.0
Ending balance, June 30
$33.4
 
$1,927.8
 
$692.9
 
$200.0
 
$2,854.1
WPL  Additional   Total
 Common Paid-In Retained Common
 Stock Capital Earnings Equity
Three Months Ended June 30, 2019       
Beginning balance, April 1
$66.2
 
$1,309.0
 
$804.0
 
$2,179.2
Earnings available for common stock    42.0
 42.0
Common stock dividends    (36.0) (36.0)
Ending balance, June 30
$66.2
 
$1,309.0
 
$810.0
 
$2,185.2
Three Months Ended June 30, 2018       
Beginning balance, April 1
$66.2
 
$1,109.0
 
$725.3
 
$1,900.5
Earnings available for common stock    39.8
 39.8
Common stock dividends    (35.1) (35.1)
Capital contributions from parent  150.0
   150.0
Ending balance, June 30
$66.2
 
$1,259.0
 
$730.0
 
$2,055.2


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WPL  Additional   Total
 Common Paid-In Retained Common
 Stock Capital Earnings Equity
Six Months Ended June 30, 2019       
Beginning balance, January 1
$66.2
 
$1,309.0
 
$774.3
 
$2,149.5
Earnings available for common stock    107.7
 107.7
Common stock dividends    (72.0) (72.0)
Ending balance, June 30
$66.2
 
$1,309.0
 
$810.0
 
$2,185.2
Six Months Ended June 30, 2018       
Beginning balance, January 1
$66.2
 
$1,109.0
 
$706.3
 
$1,881.5
Earnings available for common stock    93.8
 93.8
Common stock dividends    (70.1) (70.1)
Capital contributions from parent  150.0
   150.0
Ending balance, June 30
$66.2
 
$1,259.0
 
$730.0
 
$2,055.2


Comprehensive Income - For the three and ninesix months ended SeptemberJune 30, 20182019 and 20172018, Alliant Energy’s other comprehensive income was not material; therefore, its comprehensive income was substantially equal to its net income and its comprehensive income attributable to Alliant Energy common shareowners was substantially equal to its net income attributable to Alliant Energy common shareowners for such periods. For the three and ninesix months ended SeptemberJune 30, 20182019 and 2017,2018, IPL and WPL had no other comprehensive income; therefore, their comprehensive income was equal to their net income and their comprehensive income available for common stock was equal to their earnings available for common stock for such periods.



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NOTE 7.6. DEBT
Note 7(a)NOTE 6(a) Short-term Debt - In March 2019, Alliant Energy, IPL and WPL extended their single credit facility agreement by one year, which currently expires in August 2023. As of June 30, 2019, the short-term borrowing capacity under the agreement totaled $1 billion ($450 million for Alliant Energy at the parent company, $250 million for IPL and $300 million for WPL). Information regarding commercial paper classified as short-term debt was as follows (dollars in millions):
June 30, 2019Alliant Energy IPL WPL
Commercial paper outstanding$390.5 $— $—
Commercial paper weighted average interest rates2.6% N/A N/A
Available credit facility capacity$609.5 $250.0 $300.0
September 30, 2018Alliant Energy IPL WPL
Commercial paper outstanding$136.8 $— $38.4
Commercial paper weighted average interest rates2.4% N/A 2.2%
Available credit facility capacity$863.2 $250.0 $311.6

 Alliant Energy IPL WPL
Three Months Ended June 302019 2018 2019 2018 2019 2018
Maximum amount outstanding (based on daily outstanding balances)$590.2 $446.5 $— $31.4 $193.3 $109.4
Average amount outstanding (based on daily outstanding balances)$531.7 $234.5 $— $5.1 $141.6 $45.2
Weighted average interest rates2.7% 2.2% N/A 2.3% 2.5% 1.8%
Six Months Ended June 30           
Maximum amount outstanding (based on daily outstanding balances)$600.6 $446.5 $50.4 $31.4 $195.1 $109.4
Average amount outstanding (based on daily outstanding balances)$515.4 $272.1 $0.3 $2.6 $139.8 $28.4
Weighted average interest rates2.7% 2.0% 2.8% 2.3% 2.5% 1.8%

 Alliant Energy IPL WPL
Three Months Ended September 302018 2017 2018 2017 2018 2017
Maximum amount outstanding (based on daily outstanding balances)$153.3 $424.4 $— $20.0 $75.4 $271.2
Average amount outstanding (based on daily outstanding balances)$80.8 $386.2 $— $0.4 $23.1 $217.0
Weighted average interest rates2.2% 1.3% N/A 1.4% 2.0% 1.1%
Nine Months Ended September 30           
Maximum amount outstanding (based on daily outstanding balances)$446.5 $424.4 $31.4 $20.0 $109.4 $271.2
Average amount outstanding (based on daily outstanding balances)$207.6 $323.9 $1.7 $0.5 $26.6 $144.2
Weighted average interest rates2.1% 1.1% 2.3% 1.2% 1.9% 1.0%


As discussed in Note 7(b), in June 2018, AEF retired its $95 million term loan credit agreement expiring in 2018.

NOTE 7(b)6(b) Long-term Debt - In April 2018, AEF entered into a $300 million variable-rate (2.8% at September 30, 2018) term loan credit agreement (with Alliant Energy as guarantor) and used the proceeds from borrowings under this agreement for general corporate purposes. AEF’s term loan credit agreement expires in April 2020 and includes substantially the same financial covenants that are included in Alliant Energy’s credit facility agreement.

In June 2018, AEF (with Alliant Energy as guarantor)2019, IPL issued $400 million of 3.75% senior notes due 2023 and $300 million of 4.25% senior notes due 2028. The proceeds from the issuances were used by AEF to retire its $500 million and $95 million variable-rate term loan credit agreements expiring in 2018, to reduce Alliant Energy’s outstanding commercial paper and for general corporate purposes.

In September 2018, IPL issued $500 million of 4.1%3.60% senior debentures due 2028.2029. 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.

In June 2019, WPL issued $350 million of 3.00% debentures due 2029. The net proceeds from the issuance were used by WPL to reduce its outstanding commercial paper and solar projects. In September 2018 and October 2018, IPL retiredretire its $100 million (5.875%) and $250 million (7.25%) senior5% debentures respectively.that matured in July 2019.


NOTE 8. REVENUES
Revenues from Alliant Energy’s, IPL’s and WPL’s utility businesses are primarily from electric and gas sales provided to customers based on approved tariffs or specific contracts with customers. IPL’s and WPL’s primary performance obligations under such arrangements are to deliver electricity and gas, and their customers simultaneously receive and consume the electricity and gas. For such arrangements, revenues are recognized equivalent to the value of the electricity or gas supplied during each period, including amounts billed during each period and changes in amounts estimated to be billed at the end of each period. IPL and WPL apply the right to invoice method to measure progress towards completing performance obligations to transfer electricity and gas to their customers.

IPL provides retail electric and gas service to customers in Iowa, and WPL provides retail and wholesale electric and retail gas service to customers in Wisconsin. IPL also sells electricity to wholesale customers in Minnesota, Illinois and Iowa, as well as steam from its Prairie Creek Generating Station to high-pressure steam customers in Iowa.

IPL’s and WPL’s retail electric and gas revenues include sales to residential, commercial and industrial customers. IPL’s and WPL’s retail electric and gas customer prices are based on IPL’s and WPL’s cost of service and are determined through general rate review proceedings and various tariff filings with the IUB and PSCW, respectively. Such tariff-based services provide electricity or gas to customers without a defined contractual term.

IPL and WPL have wholesale electric market-based rate authority from FERC allowing them to participate in wholesale energy markets (e.g. MISO) and transact directly with third parties. This authority from FERC allows sales of electricity referred to as bulk power sales based on current market values. FERC also allows IPL and WPL to enter into power supply agreements with municipalities and rural electric cooperatives with defined contractual terms, which include standard pricing mechanisms that are detailed in current tariffs accepted by FERC through wholesale rate review proceedings.


 18 
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NOTE 7. LEASES
Revenues from Operating Leases - Alliant Energy’s, non-utilityIPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. Operating lease details are as follows (dollars in millions):
 June 30, 2019      
 Alliant Energy IPL WPL      
Property, plant and equipment, net
$17
 
$10
 
$7
      
Other current liabilities
$2
 
$1
 
$1
      
Other liabilities15
 9
 6
      
Total operating lease liabilities
$17
 
$10
 
$7
      
Weighted average remaining lease term11 years
 13 years
 10 years
      
Weighted average discount rate4% 4% 4%      
            
 Three Months Ended Six Months Ended
 June 30, 2019 June 30, 2019
 Alliant Energy IPL WPL Alliant Energy IPL WPL
Operating lease cost
$—
 
$—
 
$—
 
$1
 
$—
 
$—


Finance Lease - WPL’s finance lease is an agreement for WPL to lease the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business customersthrough 2025, the initial lease term. WPL is responsible for the operation of the EGU and has exclusive rights to its output. This finance lease contains two lease renewal periods, which are primarily from its Transportation business, which includes a short-line railway that provides freight service between Cedar Rapids, Iowanot included in the finance lease obligation, as well as an option to purchase the facility at the end of the initial lease term. WPL’s retail and Iowa City, Iowa; a barge terminal and hauling services onwholesale rates include recovery of the Mississippi River; and other transfer and storage services.Sheboygan Falls Energy Facility lease payments. WPL’s finance lease details are as follows (dollars in millions):

 June 30, 2019  
Property, plant and equipment, net
$35
  
Other current liabilities
$8
  
Finance lease obligations - Sheboygan Falls Energy Facility56
  
Total finance lease liabilities
$64
  
Remaining lease term6 years
  
Discount rate11%  
    
 Three Months Ended Six Months Ended
 June 30, 2019 June 30, 2019
Depreciation expense
$2
 
$3
Interest expense2
 4
Total finance lease expense
$4
 
$7


Expected Maturities - As of SeptemberJune 30, 2018, revenue2019, expected maturities of lease liabilities were as follows (in millions):
 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
 
$6
 
$17
IPL1
 1
 1
 1
 1
 9
 14
 4
 10
WPL1
 1
 1
 1
 1
 4
 9
 2
 7
WPL’s Finance Lease:                 
Sheboygan Falls Energy Facility7
 15
 15
 15
 15
 20
 87
 23
 64



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Prior period amounts have not been restated to reflect the adoption of the new lease accounting standard and continue to be recognizedreported under the accounting standards in anyeffect for those periods. As of December 31, 2018, future year related to remaining performance obligations is not material,minimum operating (excluding contingent rentals) and capital lease payments were as the majority of revenues are recognized as services are rendered or commodities are delivered, and are from contracts with durations of less than one year. Alliant Energy, IPL and WPL do not have any material contract assets or contract liabilities, or contract acquisition fulfillment costs.follows (in millions):

 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
    
IPL3
 2
 2
 2
 2
 12
 23
    
WPL2
 3
 1
 —
 —
 —
 6
    
WPL’s Capital Lease:                 
Sheboygan Falls Energy Facility
$15
 
$15
 
$15
 
$15
 
$15
 
$19
 
$94
 
$26
 
$68


NOTE 8. REVENUES
Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions):
Alliant Energy IPL WPLAlliant Energy IPL WPL
Three Months Ended September 302018 2017 2018 2017 2018 2017
Three Months Ended June 302019 2018 2019 2018 2019 2018
Electric Utility:                      
Retail - residential
$312.9
 
$296.4
 
$180.1
 
$168.5
 
$132.8
 
$127.9

$233.3
 
$248.3
 
$125.9
 
$139.3
 
$107.4
 
$109.0
Retail - commercial215.4
 205.9
 146.0
 137.5
 69.4
 68.4
171.3
 172.3
 111.4
 114.2
 59.9
 58.1
Retail - industrial247.8
 243.4
 141.4
 137.3
 106.4
 106.1
214.2
 225.4
 118.4
 128.8
 95.8
 96.6
Wholesale50.0
 63.5
 18.2
 26.7
 31.8
 36.8
41.0
 43.1
 14.6
 13.9
 26.4
 29.2
Bulk power and other35.1
 31.4
 23.5
 19.0
 11.6
 12.4
31.4
 37.2
 22.0
 25.9
 9.4
 11.3
Total Electric Utility861.2
 840.6
 509.2
 489.0
 352.0
 351.6
691.2
 726.3
 392.3
 422.1
 298.9
 304.2
Gas Utility:                      
Retail - residential21.8
 21.5
 12.6
 12.0
 9.2
 9.5
35.2
 37.7
 20.0
 22.8
 15.2
 14.9
Retail - commercial11.0
 12.9
 6.4
 7.8
 4.6
 5.1
16.1
 19.3
 8.8
 11.8
 7.3
 7.5
Retail - industrial3.0
 3.0
 2.0
 2.2
 1.0
 0.8
2.0
 2.6
 1.6
 1.4
 0.4
 1.2
Transportation/other9.0
 8.4
 5.7
 5.4
 3.3
 3.0
11.9
 9.0
 8.0
 6.2
 3.9
 2.8
Total Gas Utility44.8
 45.8
 26.7
 27.4
 18.1
 18.4
65.2
 68.6
 38.4
 42.2
 26.8
 26.4
Other Utility:                      
Steam8.7
 8.3
 8.7
 8.3
 —
 —
9.2
 8.4
 9.2
 8.4
 —
 —
Other utility3.6
 2.9
 3.0
 2.7
 0.6
 0.2
1.7
 2.3
 1.3
 2.1
 0.4
 0.2
Total Other Utility12.3
 11.2
 11.7
 11.0
 0.6
 0.2
10.9
 10.7
 10.5
 10.5
 0.4
 0.2
Non-Utility and Other:                      
Transportation and other10.3
 9.3
 —
 —
 —
 —
22.9
 10.5
 —
 —
 —
 —
Total Non-Utility and Other10.3
 9.3
 —
 —
 —
 —
22.9
 10.5
 —
 —
 —
 —
Total revenues
$928.6
 
$906.9
 
$547.6
 
$527.4
 
$370.7
 
$370.2

$790.2
 
$816.1
 
$441.2
 
$474.8
 
$326.1
 
$330.8

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Table of Contents

 Alliant Energy IPL WPL
Nine Months Ended September 302018 2017 2018 2017 2018 2017
Electric Utility:           
Retail - residential
$820.6
 
$766.9
 
$461.6
 
$414.2
 
$359.0
 
$352.7
Retail - commercial561.7
 537.3
 371.8
 340.6
 189.9
 196.7
Retail - industrial675.1
 646.2
 385.0
 350.7
 290.1
 295.5
Wholesale146.9
 186.3
 56.4
 71.3
 90.5
 115.0
Bulk power and other91.9
 62.4
 62.2
 40.8
 29.7
 21.6
Total Electric Utility2,296.2
 2,199.1
 1,337.0
 1,217.6
 959.2
 981.5
Gas Utility:           
Retail - residential170.1
 145.1
 100.9
 78.7
 69.2
 66.4
Retail - commercial87.3
 81.4
 49.8
 44.4
 37.5
 37.0
Retail - industrial11.4
 10.4
 6.1
 6.8
 5.3
 3.6
Transportation/other30.2
 25.8
 20.2
 17.3
 10.0
 8.5
Total Gas Utility299.0
 262.7
 177.0
 147.2
 122.0
 115.5
Other Utility:           
Steam26.5
 25.3
 26.5
 25.3
 —
 —
Other utility9.7
 9.1
 7.7
 8.0
 2.0
 1.1
Total Other Utility36.2
 34.4
 34.2
 33.3
 2.0
 1.1
Non-Utility and Other:           
Transportation and other29.6
 29.9
 —
 —
 —
 —
Total Non-Utility and Other29.6
 29.9
 —
 —
 —
 —
Total revenues
$2,661.0
 
$2,526.1
 
$1,548.2
 
$1,398.1
 
$1,083.2
 
$1,098.1

NOTE 9. INCOME TAXES
Income Tax Rates - The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes.
 Alliant Energy IPL WPL
Three Months Ended September 302018 2017 2018 2017 2018 2017
Statutory federal income tax rate21.0 % 35.0 % 21.0% 35.0% 21.0 % 35.0 %
State income taxes, net of federal benefits6.9
 5.7
 7.7
 6.5
 6.2
 5.2
Effect of rate-making on property-related differences(6.3) (10.1) (11.5) (22.6) (2.1) (1.9)
Production tax credits(5.4) (6.2) (5.5) (7.0) (6.4) (7.0)
Adjustment for prior period taxes(5.7) (2.0) (10.2) (3.5) —
 0.8
IPL’s tax benefit riders(2.3) (8.3) (4.8) (20.9) —
 —
Federal Tax Reform adjustments(2.5) —
 (0.9) —
 (6.4) —
Other items, net(0.4) (0.9) (0.6) (0.7) (0.5) (0.5)
Overall income tax rate5.3% 13.2% (4.8%) (13.2%) 11.8% 31.6%
 Alliant Energy IPL WPL
Nine Months Ended September 302018 2017 2018 2017 2018 2017
Statutory federal income tax rate21.0 % 35.0 % 21.0% 35.0% 21.0 % 35.0 %
State income taxes, net of federal benefits6.9
 5.6
 7.7
 6.5
 6.2
 5.1
Effect of rate-making on property-related differences(6.7) (9.1) (12.0) (20.6) (2.3) (1.8)
Production tax credits(5.4) (6.0) (5.4) (6.8) (6.6) (7.0)
Adjustment for prior period taxes(2.6) (1.3) (5.4) (3.3) —
 0.3
IPL’s tax benefit riders(2.2) (8.1) (4.6) (20.1) —
 —
Federal Tax Reform adjustments(1.2) —
 (0.5) —
 (2.8) —
Other items, net(1.0) (1.2) (1.0) (0.5) (1.3) (0.5)
Overall income tax rate8.8% 14.9% (0.2%) (9.8%) 14.2% 31.1%

Federal Tax Reform Adjustments - In December 2017, Federal Tax Reform was enacted, which had a material impact on Alliant Energy’s, IPL’s and WPL’s financial statements in the fourth quarter of 2017 since changes in tax laws must be recognized in the period in which the law was enacted. During the third quarter of 2018, additional rules were issued, including clarifications of the treatment of bonus depreciation deductions, which impacted the federal income tax return for the calendar year 2017. As result of these clarifying rules, Alliant Energy, IPL and WPL recorded tax benefits of $5.6 million, $1.1 million and $5.5 million, respectively, in the third quarter of 2018.


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 Alliant Energy IPL WPL
Six Months Ended June 302019 2018 2019 2018 2019 2018
Electric Utility:           
Retail - residential
$508.0
 
$507.7
 
$273.4
 
$281.5
 
$234.6
 
$226.2
Retail - commercial352.4
 346.3
 228.0
 225.8
 124.4
 120.5
Retail - industrial422.9
 427.3
 234.5
 243.6
 188.4
 183.7
Wholesale87.5
 96.9
 31.5
 38.2
 56.0
 58.7
Bulk power and other63.8
 56.8
 44.7
 38.7
 19.1
 18.1
Total Electric Utility1,434.6
 1,435.0
 812.1
 827.8
 622.5
 607.2
Gas Utility:           
Retail - residential167.0
 148.3
 97.9
 88.3
 69.1
 60.0
Retail - commercial79.7
 76.3
 43.6
 43.4
 36.1
 32.9
Retail - industrial7.4
 8.4
 4.8
 4.1
 2.6
 4.3
Transportation/other26.9
 21.2
 16.7
 14.5
 10.2
 6.7
Total Gas Utility281.0
 254.2
 163.0
 150.3
 118.0
 103.9
Other Utility:           
Steam17.6
 17.8
 17.6
 17.8
 —
 —
Other utility4.4
 6.1
 3.6
 4.7
 0.8
 1.4
Total Other Utility22.0
 23.9
 21.2
 22.5
 0.8
 1.4
Non-Utility and Other:           
Transportation and other39.8
 19.3
 —
 —
 —
 —
Total Non-Utility and Other39.8
 19.3
 —
 —
 —
 —
Total revenues
$1,777.4
 
$1,732.4
 
$996.3
 
$1,000.6
 
$741.3
 
$712.5


NOTE 9. INCOME TAXES
Income Tax Rates - The overall income tax rates shown in the following table were computed by dividing income taxes by income before income taxes.
 Alliant Energy IPL WPL
Three Months Ended June 302019 2018 2019 2018 2019 2018
Statutory federal income tax rate21.0 % 21.0 % 21.0% 21.0% 21.0 % 21.0 %
State income taxes, net of federal benefits7.5
 6.5
 8.3
 7.0
 6.2
 6.2
Production tax credits(8.5) (5.4) (13.2) (5.3) (4.2) (6.8)
Effect of rate-making on property-related differences(6.2) (6.7) (10.1) (11.5) (2.7) (2.7)
Amortization of excess deferred taxes(1.3) (0.4) (0.4) —
 (2.3) (0.1)
IPL’s tax benefit riders(0.7) (2.1) (1.4) (4.3) —
 —
Other items, net(1.5) (1.2) (0.4) (2.8) (2.5) (4.1)
Overall income tax rate10.3% 11.7% 3.8% 4.1% 15.5% 13.5%

 Alliant Energy IPL WPL
Six Months Ended June 302019 2018 2019 2018 2019 2018
Statutory federal income tax rate21.0 % 21.0 % 21.0% 21.0% 21.0 % 21.0 %
State income taxes, net of federal benefits7.2
 7.1
 8.1
 7.7
 6.2
 6.2
Production tax credits(8.9) (5.5) (13.6) (5.3) (4.6) (6.7)
Effect of rate-making on property-related differences(6.0) (7.2) (9.6) (12.4) (2.4) (2.5)
Amortization of excess deferred taxes(1.1) (0.4) (0.3) —
 (1.8) (0.1)
IPL’s tax benefit riders(0.7) (2.2) (1.4) (4.5) —
 —
Other items, net(1.0) (1.0) (0.5) (1.5) (1.2) (1.9)
Overall income tax rate10.5% 11.8% 3.7% 5.0% 17.2% 16.0%


Deferred Tax Assets and Liabilities -For the nine months ended September 30, 2018, Alliant Energy’s, IPL’s and WPL’s deferred tax liabilities increased $96.8 million, $22.3 million and $57.2 million, respectively. The increases were primarily due to property-related differences, which were partially offset by increases in federal credit carryforwards. Alliant Energy’s and IPL’s increases were also partially offset by the effects of Iowa tax reform, which is discussed in Note 2. WPL’s increase was also partially due to the utilization of federal net operating losses.

Carryforwards - At SeptemberJune 30, 2018,2019, carryforwards and expiration dates were estimated as follows (in millions):
 Range of Expiration Dates Alliant Energy IPL WPL
Federal net operating losses2031-2037 
$760
 
$550
 
$122
State net operating losses2019-2039 764
 13
 2
Federal tax credits2022-2039 325
 152
 154



 Range of Expiration Dates Alliant Energy IPL WPL
Federal net operating losses2030-2037 
$804
 
$563
 
$144
State net operating losses2018-2038 765
 13
 2
Federal tax credits2022-2038 290
 129
 143

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NOTE 10. BENEFIT PLANS
NOTE 10(a) Pension and Other Postretirement BenefitsOPEB Plans -
Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three and ninesix months ended SeptemberJune 30 are included in the tables below (in millions). The service cost component of net periodic benefit costs is included in “Other operationFor IPL and maintenance” expenses in the income statements and all other components of net periodic benefit costs are included in “Other (income) and deductions” in the income statements. In IPL’s and WPL’s tables below, the defined benefit pension planWPL, amounts represent those respective amounts for their bargaining unitcurrent and former employees covered under the qualified plans that they sponsor, as well as amounts directly assigned to them related to their current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. In IPL’s and WPL’s tables below, the OPEB plan amounts represent respective amounts for their employees, as well as amounts directly assigned to them related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan.
Defined Benefit Pension Plans OPEB PlansDefined Benefit Pension Plans OPEB Plans
Three Months Nine Months Three Months Nine MonthsThree Months Six Months Three Months Six Months
Alliant Energy2018 2017 2018 2017 2018 2017 2018 20172019 2018 2019 2018 2019 2018 2019 2018
Service cost
$3.1
 
$3.1
 
$9.1
 
$9.3
 
$1.0
 
$1.2
 
$3.1
 
$3.7

$2.4
 
$3.0
 
$4.8
 
$6.0
 
$0.9
 
$1.0
 
$1.7
 
$2.1
Interest cost11.7
 12.7
 35.1
 38.3
 2.0
 2.2
 5.8
 6.5
12.4
 11.7
 24.9
 23.4
 2.1
 1.9
 4.2
 3.8
Expected return on plan assets(17.4) (16.3) (52.3) (49.1) (1.5) (1.5) (4.5) (4.6)(15.0) (17.5) (30.0) (34.9) (1.3) (1.5) (2.5) (3.0)
Amortization of prior service credit(0.2) (0.1) (0.5) (0.3) —
 (0.1) (0.1) (0.2)(0.1) (0.1) (0.3) (0.3) (0.1) (0.1) (0.1) (0.1)
Amortization of actuarial loss8.8
 9.4
 26.4
 28.2
 0.8
 1.0
 2.5
 2.9
9.1
 8.8
 18.2
 17.6
 0.8
 0.9
 1.6
 1.7
Settlement losses (a)—
 0.9
 —
 0.9
 —
 —
 —
 —

$6.0
 
$9.7
 
$17.8
 
$27.3
 
$2.3
 
$2.8
 
$6.8
 
$8.3

$8.8
 
$5.9
 
$17.6
 
$11.8
 
$2.4
 
$2.2
 
$4.9
 
$4.5
Defined Benefit Pension Plans OPEB PlansDefined Benefit Pension Plans OPEB Plans
Three Months Nine Months Three Months Nine MonthsThree Months Six Months Three Months Six Months
IPL2018 2017 2018 2017 2018 2017 2018 20172019 2018 2019 2018 2019 2018 2019 2018
Service cost
$1.8
 
$1.8
 
$5.5
 
$5.5
 
$0.4
 
$0.5
 
$1.3
 
$1.6

$1.5
 
$1.9
 
$3.0
 
$3.7
 
$0.4
 
$0.5
 
$0.7
 
$0.9
Interest cost5.3
 5.9
 16.0
 17.6
 0.7
 0.8
 2.3
 2.6
5.7
 5.4
 11.4
 10.7
 0.9
 0.8
 1.7
 1.6
Expected return on plan assets(8.1) (7.7) (24.4) (23.1) (1.1) (1.0) (3.3) (3.2)(7.1) (8.2) (14.1) (16.3) (0.9) (1.1) (1.8) (2.2)
Amortization of prior service credit—
 —
 (0.1) (0.1) —
 —
 —
 —
—
 (0.1) (0.1) (0.1) —
 —
 —
 —
Amortization of actuarial loss3.7
 4.0
 11.2
 12.1
 0.4
 0.5
 1.0
 1.5
4.0
 3.8
 7.9
 7.5
 0.3
 0.3
 0.7
 0.6

$2.7
 
$4.0
 
$8.2
 
$12.0
 
$0.4
 
$0.8
 
$1.3
 
$2.5

$4.1
 
$2.8
 
$8.1
 
$5.5
 
$0.7
 
$0.5
 
$1.3
 
$0.9
 Defined Benefit Pension Plans OPEB Plans
 Three Months Six Months Three Months Six Months
WPL2019 2018 2019 2018 2019 2018 2019 2018
Service cost
$0.8
 
$1.1
 
$1.7
 
$2.2
 
$0.3
 
$0.4
 
$0.6
 
$0.8
Interest cost5.4
 5.1
 10.8
 10.1
 0.9
 0.7
 1.7
 1.5
Expected return on plan assets(6.6) (7.6) (13.1) (15.2) (0.2) (0.1) (0.3) (0.3)
Amortization of prior service credit—
 (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1)
Amortization of actuarial loss4.4
 4.3
 8.8
 8.6
 0.4
 0.5
 0.8
 1.0
 
$4.0
 
$2.8
 
$8.1
 
$5.6
 
$1.3
 
$1.4
 
$2.7
 
$2.9

 Defined Benefit Pension Plans OPEB Plans
 Three Months Nine Months Three Months Nine Months
WPL2018 2017 2018 2017 2018 2017 2018 2017
Service cost
$1.1
 
$1.2
 
$3.3
 
$3.6
 
$0.4
 
$0.5
 
$1.2
 
$1.4
Interest cost5.0
 5.5
 15.1
 16.4
 0.8
 0.9
 2.3
 2.6
Expected return on plan assets(7.6) (7.2) (22.8) (21.4) (0.2) (0.2) (0.5) (0.6)
Amortization of prior service cost (credit)—
 0.1
 (0.1) 0.1
 —
 (0.1) (0.1) (0.2)
Amortization of actuarial loss4.3
 4.6
 12.9
 13.9
 0.5
 0.4
 1.5
 1.2
 
$2.8
 
$4.2
 
$8.4
 
$12.6
 
$1.5
 
$1.5
 
$4.4
 
$4.4


(a)Settlement losses related to payments made to retired executives of Alliant Energy.

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Table of Contents


NOTE 10(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three and ninesix months ended SeptemberJune 30 was as follows (in millions):
 Alliant Energy IPL WPL
 Three Months Six Months Three Months Six Months Three Months Six Months
 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018
Compensation expense
$3.4
 
$5.1
 
$8.1
 
$8.4
 
$1.9
 
$2.8
 
$4.5
 
$4.6
 
$1.4
 
$2.1
 
$3.2
 
$3.4
Income tax benefits1.0
 1.5
 2.3
 2.4
 0.5
 0.9
 1.3
 1.4
 0.4
 0.5
 0.9
 0.9

 Alliant Energy IPL WPL
 Three Months Nine Months Three Months Nine Months Three Months Nine Months
 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017
Compensation expense
$4.2
 
$5.1
 
$12.6
 
$9.9
 
$2.4
 
$2.8
 
$7.0
 
$5.4
 
$1.7
 
$2.1
 
$5.1
 
$4.1
Income tax benefits1.2
 2.1
 3.6
 4.0
 0.7
 1.1
 2.1
 2.2
 0.5
 0.9
 1.4
 1.7


As of SeptemberJune 30, 2018,2019, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $8.3$10.3 million, $4.6$5.7 million and $3.5$4.2 million, respectively, which is expected to be recognized over a weighted average period of between one1 and two2 years.


Performance SharesIn the first quarter of 2019, performance shares, performance restricted stock units and Performance Units - A summaryrestricted stock units were granted to key employees and will be paid out in shares, and are therefore accounted for as equity awards. The 2019 performance shares contain a market condition based on total shareowner return relative to an investor-owned utility peer group. The fair value of each performance share is based on the fair value of the underlying common stock on the grant date and the probability of satisfying the market condition contained in the agreement during a 3-year performance period. In the first quarter of 2019, 80,837 performance shares were granted with a grant date fair value of $46.35. The 2019 performance restricted stock units will vest based on the achievement of certain targets (specified growth of consolidated net income from continuing operations) during a 3-year performance period. The actual number of performance shares and performance restricted units activity for the nine months ended September 30, 2018, with amounts representingthat will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of awards, wasshares or units, as follows:
 Performance Shares Performance Units
Nonvested awards, January 1223,511
 71,737
Granted74,163
 19,840
Vested(90,806) (31,910)
Forfeited(905) (1,906)
Nonvested awards, September 30205,963
 57,761

Vested Awards - During the nine months ended September 30, 2018, certain performance shares and performance units that were granted in 2015 vested, resulting in payouts (a combination of cash and common stock for the performance shares and cash only for the performance units) as follows:
 Performance Shares Performance Units
Performance awards vested90,806
 31,910
Percentage of target number of performance awards137.5% 137.5%
Aggregate payout value (in millions)
$5.3
 
$1.4
Payout - cash (in millions)
$4.9
 
$1.4
Payout - common stock shares issued5,078
 N/A

Fair Value of Awards - At September 28, 2018, Alliant Energy’s common stock closing price was $42.57. Additional information related to fair values of nonvested performance shares and performance units at September 30, 2018, by year of grant, was as follows:
 Performance Shares Performance Units
 2018 Grant 2017 Grant 2016 Grant 2018 Grant 2017 Grant 2016 Grant
Nonvested awards at target73,258
 65,350
 67,355
 19,196
 18,062
 20,503
Estimated payout percentage based on performance criteria85% 105% 143% 85% 105% 143%
Fair values of each nonvested award
$36.18
 
$44.70
 
$60.88
 
$36.18
 
$44.70
 
$60.88

Performance Restricted Stock Units - A summary of the performanceapplicable. The 2019 restricted stock units activity forwill vest based on the nine months ended September 30, 2018, with amounts representing the target numberexpiration of units, was as follows:a 3-
 Units 
Weighted Average
Grant Date Fair Value
Nonvested units, January 1132,705
 
$36.50
Granted74,163
 38.60
Forfeited(905) 38.60
Nonvested units, September 30205,963
 37.25



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Table of Contents


Restricted Stock Units - A summaryyear time-vesting period. In the first quarter of the2019, 80,837 performance restricted stock units activityand 95,938 restricted stock units were granted with a grant date fair value of $45.63, which is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. As of June 30, 2019, an immaterial amount of shares was included in the calculation of diluted EPS related to the nonvested equity awards.

NOTE 11. ASSET RETIREMENT OBLIGATIONS
A reconciliation of the changes in asset retirement obligations associated with long-lived assets for the ninesix months ended SeptemberJune 30, 2018, was2019 is as follows:follows (in millions):
 Alliant Energy IPL
Balance, January 1
$177.5
 
$118.3
Revisions in estimated cash flows(2.2) (2.2)
Liabilities settled(1.4) (1.2)
Liabilities incurred (a)25.9
 25.9
Accretion expense3.4
 2.2
Balance, June 30
$203.2
 
$143.0

Nonvested units, January 1(a)113,749
Granted63,568
Forfeited(775)
Nonvested units, SeptemberDuring the six months ended June 30,176,542
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.


NOTE 11. FAIR VALUE MEASUREMENTS
Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. At September 30, 2018, money market fund investments were measured at fair value using quoted market prices on listed exchanges. Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions):
Alliant EnergySeptember 30, 2018 December 31, 2017
   Fair Value   Fair Value
 Carrying Level Level Level   Carrying Level Level Level  
 Amount 1 2 3 Total Amount 1 2 3 Total
Assets:                   
Money market fund investments
$228.0
 
$228.0
 
$—
 
$—
 
$228.0
 
$—
 
$—
 
$—
 
$—
 
$—
Derivatives48.0
 —
 16.5
 31.5
 48.0
 25.1
 —
 4.1
 21.0
 25.1
Deferred proceeds243.7
 —
 —
 243.7
 243.7
 222.1
 —
 —
 222.1
 222.1
Liabilities and equity:                   
Derivatives22.0
 —
 14.7
 7.3
 22.0
 41.7
 —
 8.5
 33.2
 41.7
Long-term debt (incl. current maturities)5,754.3
 —
 6,057.8
 2.5
 6,060.3
 4,866.3
 —
 5,444.6
 2.9
 5,447.5
Cumulative preferred stock of IPL200.0
 200.0
 —
 —
 200.0
 200.0
 203.8
 —
 —
 203.8
IPLSeptember 30, 2018 December 31, 2017
   Fair Value   Fair Value
 Carrying Level Level Level   Carrying Level Level Level  
 Amount 1 2 3 Total Amount 1 2 3 Total
Assets:                   
Money market fund investments
$228.0
 
$228.0
 
$—
 
$—
 
$228.0
 
$—
 
$—
 
$—
 
$—
 
$—
Derivatives29.1
 —
 6.7
 22.4
 29.1
 17.1
 —
 2.0
 15.1
 17.1
Deferred proceeds243.7
 —
 —
 243.7
 243.7
 222.1
 —
 —
 222.1
 222.1
Liabilities and equity:                   
Derivatives9.7
 —
 5.5
 4.2
 9.7
 19.4
 —
 2.9
 16.5
 19.4
Long-term debt (incl. current maturities)2,801.8
 —
 2,916.2
 —
 2,916.2
 2,406.0
 —
 2,665.7
 —
 2,665.7
Cumulative preferred stock200.0
 200.0
 —
 —
 200.0
 200.0
 203.8
 —
 —
 203.8
WPLSeptember 30, 2018 December 31, 2017
   Fair Value   Fair Value
 Carrying Level Level Level   Carrying Level Level Level  
 Amount 1 2 3 Total Amount 1 2 3 Total
Assets:                   
Derivatives
$18.9
 
$—
 
$9.8
 
$9.1
 
$18.9
 
$8.0
 
$—
 
$2.1
 
$5.9
 
$8.0
Liabilities:                   
Derivatives12.3
 —
 9.2
 3.1
 12.3
 22.3
 —
 5.6
 16.7
 22.3
Long-term debt (incl. current maturities)1,834.5
 —
 2,020.9
 —
 2,020.9
 1,833.4
 —
 2,147.9
 —
 2,147.9


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Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):
Alliant EnergyCommodity Contract Derivative  
 Assets and (Liabilities), net Deferred Proceeds
Three Months Ended September 302018 2017 2018 2017
Beginning balance, July 1
($10.7) 
$9.2
 
$208.3
 
$170.0
Total net gains (losses) included in changes in net assets (realized/unrealized)25.7
 (4.3) —
 —
Transfers out of Level 315.6
 —
 —
 —
Sales(0.2) (0.1) —
 —
Settlements (a)(6.2) (8.5) 35.4
 (54.7)
Ending balance, September 30
$24.2
 
($3.7) 
$243.7
 
$115.3
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
$26.1
 
($4.2) 
$—
 
$—
Alliant EnergyCommodity Contract Derivative  
 Assets and (Liabilities), net Deferred Proceeds
Nine Months Ended September 302018 2017 2018 2017
Beginning balance, January 1
($12.2) 
$8.7
 
$222.1
 
$211.1
Total net gains (losses) included in changes in net assets (realized/unrealized)15.7
 (31.3) —
 —
Transfers out of Level 315.6
 12.2
 —
 —
Purchases26.7
 28.3
 —
 —
Sales(0.2) (0.3) —
 —
Settlements (a)(21.4) (21.3) 21.6
 (95.8)
Ending balance, September 30
$24.2
 
($3.7) 
$243.7
 
$115.3
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
$16.5
 
($29.4) 
$—
 
$—
IPLCommodity Contract Derivative  
 Assets and (Liabilities), net Deferred Proceeds
Three Months Ended September 302018 2017 2018 2017
Beginning balance, July 1
($4.1) 
$17.1
 
$208.3
 
$170.0
Total net gains (losses) included in changes in net assets (realized/unrealized)16.8
 (4.4) —
 —
Transfers out of Level 310.5
 —
 —
 —
Sales(0.1) (0.1) —
 —
Settlements (a)(4.9) (7.3) 35.4
 (54.7)
Ending balance, September 30
$18.2
 
$5.3
 
$243.7
 
$115.3
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
$16.8
 
($4.5) 
$—
 
$—
IPLCommodity Contract Derivative  
 Assets and (Liabilities), net Deferred Proceeds
Nine Months Ended September 302018 2017 2018 2017
Beginning balance, January 1
($1.4) 
$10.1
 
$222.1
 
$211.1
Total net gains (losses) included in changes in net assets (realized/unrealized)7.6
 (13.9) —
 —
Transfers out of Level 310.5
 3.1
 —
 —
Purchases19.3
 24.6
 —
 —
Sales(0.1) (0.2) —
 —
Settlements (a)(17.7) (18.4) 21.6
 (95.8)
Ending balance, September 30
$18.2
 
$5.3
 
$243.7
 
$115.3
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
$7.9
 
($12.6) 
$—
 
$—

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WPLCommodity Contract Derivative
 Assets and (Liabilities), net
Three Months Ended September 302018 2017
Beginning balance, July 1
($6.6) 
($7.9)
Total net gains included in changes in net assets (realized/unrealized)8.9
 0.1
Transfers out of Level 35.1
 —
Sales(0.1) —
Settlements(1.3) (1.2)
Ending balance, September 30
$6.0
 
($9.0)
The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30
$9.3
 
$0.3
WPLCommodity Contract Derivative
 Assets and (Liabilities), net
Nine Months Ended September 302018 2017
Beginning balance, January 1
($10.8) 
($1.4)
Total net gains (losses) included in changes in net assets (realized/unrealized)8.1
 (17.4)
Transfers out of Level 35.1
 9.1
Purchases7.4
 3.7
Sales(0.1) (0.1)
Settlements(3.7) (2.9)
Ending balance, September 30
$6.0
 
($9.0)
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30
$8.6
 
($16.8)

(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash amounts received from the receivables sold.

Commodity Contracts - The fair value of electric, natural gas, coal and diesel fuel commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):
 Alliant Energy IPL WPL
 Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs
September 30, 2018
$7.9
 
$16.3
 
$5.4
 
$12.8
 
$2.5
 
$3.5
December 31, 2017(23.5) 11.3
 (11.5) 10.1
 (12.0) 1.2

NOTE 12. DERIVATIVE INSTRUMENTS
Commodity Derivatives -
Notional Amounts - As of SeptemberJune 30, 2018,2019, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands):
 FTRs Natural Gas Coal Diesel Fuel
 MWhs Years Dths Years Tons Years Gallons Years
Alliant Energy24,229
 2019-2020 163,808
 2019-2026 8,027
 2019-2021 6,552
 2019-2021
IPL11,721
 2019-2020 75,276
 2019-2026 3,587
 2019-2021 —
 —
WPL12,508
 2019-2020 88,532
 2019-2026 4,440
 2019-2021 6,552
 2019-2021

 Electricity FTRs Natural Gas Coal Diesel Fuel
 MWhs Years MWhs Years Dths Years Tons Years Gallons Years
Alliant Energy331
 2018 16,553
 2018-2019 179,275
 2018-2026 11,922
 2018-2021 3,906
 2018-2019
IPL—
 — 9,220
 2018-2019 83,485
 2018-2026 4,849
 2018-2021 —
 —
WPL331
 2018 7,333
 2018-2019 95,790
 2018-2026 7,073
 2018-2021 3,906
 2018-2019


Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities. The fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other liabilities” on the balance sheets as follows (in millions):

 Alliant Energy IPL WPL
 June 30,
2019		 December 31,
2018		 June 30,
2019		 December 31,
2018		 June 30,
2019		 December 31,
2018
Current derivative assets
$18.4
 
$24.6
 
$12.0
 
$16.1
 
$6.4
 
$8.5
Non-current derivative assets3.5
 3.7
 1.9
 1.6
 1.6
 2.1
Current derivative liabilities12.9
 5.6
 5.8
 3.1
 7.1
 2.5
Non-current derivative liabilities15.1
 17.7
 6.4
 8.1
 8.7
 9.6

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 Alliant Energy IPL WPL
 September 30,
2018		 December 31,
2017		 September 30,
2018		 December 31,
2017		 September 30,
2018		 December 31,
2017
Current derivative assets
$39.7
 
$21.1
 
$26.2
 
$15.8
 
$13.5
 
$5.3
Non-current derivative assets8.3
 4.0
 2.9
 1.3
 5.4
 2.7
Current derivative liabilities7.2
 18.7
 3.2
 5.0
 4.0
 13.7
Non-current derivative liabilities14.8
 23.0
 6.5
 14.4
 8.3
 8.6

Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At SeptemberJune 30, 20182019 and December 31, 2017,2018, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered.


Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, amounts would not be materially different from gross amounts of derivative assets and derivative liabilities at SeptemberJune 30, 20182019 and December 31, 2017.2018. Fair value amounts recognized for the right to reclaim cash collateral (receivable) or

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the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement.


NOTE 13. COMMITMENTS AND CONTINGENCIESFAIR VALUE MEASUREMENTS
NOTE 13(a) Capital Purchase ObligationsFair Value of Financial Instruments - Various contractual obligations contain minimum future commitmentsThe carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and related to capital expenditures for certain construction projects. IPL’s projects include the expansionestimated fair values of wind generation and installation of an SCR system at Ottumwa Unit 1 to reduce NOx emissions at the EGU. WPL’s projects include West Riverside. At September 30, 2018, Alliant Energy’s, IPL’s and WPL’s minimum future commitments related to certain contractual obligations for these projects were $82 million, $26 million and $56 million, respectively.

NOTE 13(b) Other Purchase Obligations - Various commodity supply, transportation and storage contracts help meet obligations to provide electricity and natural gas to utility customers. In addition, there are various purchase obligations associated with other goods and services. At September 30, 2018, minimum future commitments related to these purchase obligationsfinancial instruments were as follows (in millions):
 Alliant Energy IPL WPL
Purchased power (a)
$1,089
 
$1,063
 
$26
Natural gas921
 394
 527
Coal (b)169
 84
 85
Other (c)43
 24
 5
 
$2,222
 
$1,565
 
$643
Alliant EnergyJune 30, 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:                   
Money market fund investments
$161.8
 
$161.8
 
$—
 
$—
 
$161.8
 
$—
 
$—
 
$—
 
$—
 
$—
Derivatives21.9
 —
 8.2
 13.7
 21.9
 28.3
 —
 8.9
 19.4
 28.3
Deferred proceeds214.6
 —
 —
 214.6
 214.6
 119.4
 —
 —
 119.4
 119.4
Liabilities:                   
Derivatives28.0
 —
 27.5
 0.5
 28.0
 23.3
 —
 16.1
 7.2
 23.3
Long-term debt (incl. current maturities)6,144.9
 —
 6,788.8
 2.1
 6,790.9
 5,502.8
 —
 5,858.4
 2.4
 5,860.8

(a)Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. 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 December 2025. In July 2018, IPL entered into an amendment to shorten the term of the DAEC PPA by five years in exchange for a $110 million buyout payment by IPL in September 2020, which is not included in Alliant Energy’s and IPL’s amounts. The amendment to the DAEC PPA is contingent upon IUB approval of IPL’s July 2018 application regarding recovery of the buyout payment.
(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 September 30, 2018 regarding expected future usage, which is subject to change.
(c)
Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2018.


IPLJune 30, 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
$13.9
 
$—
 
$4.1
 
$9.8
 
$13.9
 
$17.7
 
$—
 
$4.0
 
$13.7
 
$17.7
Deferred proceeds214.6
 —
 —
 214.6
 214.6
 119.4
 —
 —
 119.4
 119.4
Liabilities:                   
Derivatives12.2
 —
 11.7
 0.5
 12.2
 11.2
 —
 6.5
 4.7
 11.2
Long-term debt2,850.5
 —
 3,135.3
 —
 3,135.3
 2,552.3
 —
 2,691.2
 —
 2,691.2
WPLJune 30, 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:                   
Money market fund investments
$160.4
 
$160.4
 
$—
 
$—
 
$160.4
 
$—
 
$—
 
$—
 
$—
 
$—
Derivatives8.0
 —
 4.1
 3.9
 8.0
 10.6
 —
 4.9
 5.7
 10.6
Liabilities:                   
Derivatives15.8
 —
 15.8
 —
 15.8
 12.1
 —
 9.6
 2.5
 12.1
Long-term debt (incl. current maturities)2,181.8
 —
 2,498.2
 —
 2,498.2
 1,834.9
 —
 2,043.7
 —
 2,043.7


Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):
Alliant EnergyCommodity Contract Derivative  
 Assets and (Liabilities), net Deferred Proceeds
Three Months Ended June 302019 2018 2019 2018
Beginning balance, April 1
$0.4
 
($29.4) 
$178.3
 
$120.9
Total net losses included in changes in net assets (realized/unrealized)(0.1) (0.2) —
 —
Transfers out of Level 33.9
 —
 —
 —
Purchases13.8
 26.7
 —
 —
Settlements (a)(4.8) (7.8) 36.3
 87.4
Ending balance, June 30
$13.2
 
($10.7) 
$214.6
 
$208.3
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 June 30
$—
 
($0.1) 
$—
 
$—

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NOTE 13(c) Guarantees and Indemnifications -
Whiting Petroleum - In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Whiting Petroleum is an independent oil and gas company. Alliant Energy Resources, LLC, as the successor to a predecessor entity that owned Whiting Petroleum, and a wholly-owned subsidiary of AEF, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under general partnership agreements in the oil and gas industry, including with respect to the future abandonment of certain platforms off the coast of California and related onshore plant and equipment owned by the partnerships. The guarantees do not include a maximum limit. As of September 30, 2018, the present value of the abandonment obligations is estimated at $36 million. Alliant Energy is not aware of any material liabilities related to these guarantees of which it is probable that Alliant Energy Resources, LLC will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of September 30, 2018.

Non-utility Wind Farm in Oklahoma - In July 2017, a wholly-owned subsidiary of AEF acquired a cash equity ownership interest in a non-utility wind farm located in Oklahoma. The wind farm provides electricity to a third-party under a long-term PPA. Alliant Energy provided a parent guarantee of its subsidiary’s indemnification obligations under the related operating agreement and PPA. Alliant Energy’s obligations under the operating agreement were $90 million as of September 30, 2018 and will reduce annually until expiring in July 2047. Alliant Energy’s obligations under the PPA are subject to a maximum limit of $17 million and expire in December 2031, subject to potential extension. Alliant Energy is not aware of any material liabilities related to this guarantee that it is probable that it will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of September 30, 2018.

IPL’s Minnesota Electric Distribution Assets - IPL provided indemnifications associated with the July 2015 sale of its Minnesota electric distribution assets for losses resulting from potential breach of IPL’s representations, warranties and obligations under the sale agreement. Alliant Energy and IPL believe the likelihood of having to make any material cash payments under these indemnifications is remote. IPL has not recorded any material liabilities related to these indemnifications as of September 30, 2018. The general terms of the indemnifications provided by IPL included a maximum limit of $17 million and expire in October 2020.

NOTE 13(d) Environmental Matters -
Manufactured Gas Plant (MGP) Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. At September 30, 2018, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At September 30, 2018, such amounts for WPL were not material.
 Alliant Energy IPL
Range of estimated future costs
$11
-$29 
$9
-$25
Current and non-current environmental liabilities16 13
Alliant EnergyCommodity Contract Derivative  
 Assets and (Liabilities), net Deferred Proceeds
Six Months Ended June 302019 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)(5.7) (10.0) —
 —
Transfers out of Level 33.9
 —
 —
 —
Purchases13.8
 26.7
 —
 —
Sales(0.2) —
 —
 —
Settlements (a)(10.8) (15.2) 95.2
 (13.8)
Ending balance, June 30
$13.2
 
($10.7) 
$214.6
 
$208.3
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 June 30
($2.6) 
($9.7) 
$—
 
$—

WPL Consent Decree - In 2013, the U.S. District Court for the Western District of Wisconsin approved a Consent Decree that WPL, along with the other owners of Edgewater and Columbia, entered into with the EPA and the Sierra Club, thereby resolving claims against WPL. Such claims included allegations that the owners of Edgewater, Nelson Dewey and Columbia violated the Prevention of Significant Deterioration program requirements, Title V Operating Permit requirements of the Clean Air Act (CAA) and the Wisconsin State Implementation Plan designed to implement the CAA.
IPLCommodity Contract Derivative  
 Assets and (Liabilities), net Deferred Proceeds
Three Months Ended June 302019 2018 2019 2018
Beginning balance, April 1
$0.6
 
($15.4) 
$178.3
 
$120.9
Total net gains (losses) included in changes in net assets (realized/unrealized)0.4
 (1.6) —
 —
Transfers out of Level 32.5
 —
 —
 —
Purchases9.5
 19.3
 —
 —
Settlements (a)(3.7) (6.4) 36.3
 87.4
Ending balance, June 30
$9.3
 
($4.1) 
$214.6
 
$208.3
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at June 30
$0.5
 
($1.6) 
$—
 
$—

WPL has completed various requirements under the Consent Decree. The Consent Decree also establishes sulfur dioxide (SO2), NOx and particulate matter emission rate limits for Columbia Units 1 and 2, and Edgewater Units 4 and 5. In addition, the Consent Decree includes annual plant-wide SO2 and NOx emission caps for Columbia and Edgewater. Alliant Energy and WPL currently expect to recover material costs incurred by WPL related to compliance with the terms of the Consent Decree from WPL’s electric customers.
IPLCommodity Contract Derivative  
 Assets and (Liabilities), net Deferred Proceeds
Six Months Ended June 302019 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)(2.8) (9.2) —
 —
Transfers out of Level 32.5
 —
 —
 —
Purchases9.5
 19.3
 —
 —
Sales(0.1) —
 —
 —
Settlements (a)(8.8) (12.8) 95.2
 (13.8)
Ending balance, June 30
$9.3
 
($4.1) 
$214.6
 
$208.3
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 June 30
($0.9) 
($9.0) 
$—
 
$—

WPLCommodity Contract Derivative
 Assets and (Liabilities), net
Three Months Ended June 302019 2018
Beginning balance, April 1
($0.2) 
($14.0)
Total net gains (losses) included in changes in net assets (realized/unrealized)(0.5) 1.4
Transfers out of Level 31.4
 —
Purchases4.3
 7.4
Settlements(1.1) (1.4)
Ending balance, June 30
$3.9
 
($6.6)
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at June 30
($0.5) 
$1.5

IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential CAA issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include installing an SCR system or equivalent NOx reduction system at Ottumwa by December 31, 2019, and fuel switching or retiring Burlington by December 31, 2021 and Prairie Creek Units 1 and 3 by December 31, 2025.


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WPLCommodity Contract Derivative
 Assets and (Liabilities), net
Six Months Ended June 302019 2018
Beginning balance, January 1
$3.2
 
($10.8)
Total net losses included in changes in net assets (realized/unrealized)(2.9) (0.8)
Transfers out of Level 31.4
 —
Purchases4.3
 7.4
Sales(0.1) —
Settlements(2.0) (2.4)
Ending balance, June 30
$3.9
 
($6.6)
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 June 30
($1.7) 
($0.7)

(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.

Commodity Contracts - The Consent Decree also establishes SO2, NOxfair value of FTR and particulate matter emission rate limits with varying averaging times for Burlington, Lansing, M.L. Kapp, Ottumwa and Prairie Creek. In addition, the Consent Decree includes calendar-year SO2 and NOx emission caps for Prairie Creek, and calendar-year SO2 and NOx emission caps in aggregate for Burlington, Lansing, M.L. Kapp, Ottumwa and Prairie Creek. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to compliance with the terms of the Consent Decree from IPL’s electric customers.natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets as follows (in millions):

 Alliant Energy IPL WPL
 Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs
June 30, 2019
$2.4
 
$10.8
 
$1.4
 
$7.9
 
$1.0
 
$2.9
December 31, 20183.2
 9.0
 1.8
 7.2
 1.4
 1.8

Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however future capital investments and/or modifications to EGUs to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters include, among others: Cross-State Air Pollution Rule, Effluent Limitation Guidelines, Coal Combustion Residuals Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including carbon emissions from new (CAA Section 111(b)) and existing (CAA Section 111(d)) fossil-fueled EGUs.


NOTE 14. SEGMENTS OF BUSINESSCOMMITMENTS AND CONTINGENCIES
In the fourth quarter of 2017, Alliant Energy and WPL modified the segment reportingNOTE 14(a) Capital Purchase Commitments - Various contractual obligations contain minimum future commitments related to ATC Holdings, consistent with information used by their chief operating decision maker to evaluate performance and allocate resources. Ascapital expenditures for certain construction projects. IPL’s projects include the expansion of December 31, 2017, ATC Holdings are no longer included inwind generation. WPL’s projects include the West Riverside Energy Center. At June 30, 2019, Alliant Energy’s, IPL’s and WPL’s minimum future commitments for these projects were $268 million, $237 million and $31 million, respectively.

NOTE 14(b) Other Purchase Commitments - Various commodity supply, transportation and storage contracts help meet obligations to provide electricity and natural gas to utility electric operations reportable segment or WPL’s electric operations reportable segment. As a result, all prior period amounts impacted by this changecustomers. In addition, there are various purchase commitments associated with other goods and services. At June 30, 2019, the related minimum future commitments were reclassified to conform to the new presentation. Alliant Energy’s related amounts were reclassified from “Electric Utility” to “ATC Holdings, Non-Utility, Parent and Other” in the table below. There was no resulting change to WPL’s segment reporting for the three and nine months ended September 30, 2017.

Alliant Energy - Certain financial information relating to Alliant Energy’s business segments is as follows. Intersegment revenues were not material to Alliant Energy’s operations.follows (in millions):
         ATC Holdings, Alliant
 Utility Non-Utility, Energy
 Electric Gas Other Total Parent and Other Consolidated
 (in millions)
Three Months Ended September 30, 2018           
Revenues
$861.2
 
$44.8
 
$12.3
 
$918.3
 
$10.3
 
$928.6
Operating income (loss)248.7
 (2.0) 0.6
 247.3
 8.8
 256.1
Net income attributable to Alliant Energy common shareowners      202.8
 2.7
 205.5
Three Months Ended September 30, 2017           
Revenues
$840.6
 
$45.8
 
$11.2
 
$897.6
 
$9.3
 
$906.9
Operating income (loss)236.7
 (1.7) (7.7) 227.3
 9.0
 236.3
Net income (loss) attributable to Alliant Energy common shareowners      170.2
 (1.4) 168.8
 Alliant Energy IPL WPL
Purchased power (a)
$184
 
$183
 
$1
Natural gas925
 460
 465
Coal (b)130
 81
 49
Other (c)88
 49
 28
 
$1,327
 
$773
 
$543


(a)Includes payments required by PPAs for capacity rights and minimum quantities of MWhs required to be purchased. As a result of an amendment to shorten the term of the DAEC PPA, 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 June 30, 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 June 30, 2019.

NOTE 14(c) Guarantees and Indemnifications -
Whiting Petroleum - In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Whiting Petroleum is an independent oil and gas company. Alliant Energy Resources, LLC, as the successor to a predecessor entity that owned Whiting Petroleum, and a wholly-owned subsidiary of AEF, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under general partnership agreements in the oil and gas industry, including with respect to the future abandonment of certain platforms off the coast of California and related onshore plant and equipment owned by the

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partnerships. The guarantees do not include a maximum limit. As of June 30, 2019, the present value of the abandonment obligations is estimated at $37 million. Alliant Energy is not aware of any material liabilities related to these guarantees of which it is probable that Alliant Energy Resources, LLC will be obligated to pay and therefore has not recognized any material liabilities related to these guarantees as of June 30, 2019 and December 31, 2018.
         ATC Holdings, Alliant
 Utility Non-Utility, Energy
 Electric Gas Other Total Parent and Other Consolidated
 (in millions)
Nine Months Ended September 30, 2018           
Revenues
$2,296.2
 
$299.0
 
$36.2
 
$2,631.4
 
$29.6
 
$2,661.0
Operating income510.2
 34.9
 2.9
 548.0
 25.0
 573.0
Net income attributable to Alliant Energy common shareowners      395.0
 31.8
 426.8
Nine Months Ended September 30, 2017           
Revenues
$2,199.1
 
$262.7
 
$34.4
 
$2,496.2
 
$29.9
 
$2,526.1
Operating income (loss)486.9
 31.3
 (6.7) 511.5
 25.7
 537.2
Amounts attributable to Alliant Energy common shareowners:           
Income from continuing operations, net of tax      333.8
 28.3
 362.1
Income from discontinued operations, net of tax      —
 1.4
 1.4
Net income      333.8
 29.7
 363.5


Non-utility Wind Farm in Oklahoma - In July 2017, a wholly-owned subsidiary of AEF acquired a cash equity ownership interest in a non-utility wind farm located in Oklahoma. The wind farm provides electricity to a third-party under a long-term PPA. Alliant Energy provided a parent guarantee of its subsidiary’s indemnification obligations under the related operating agreement and PPA. Alliant Energy’s obligations under the operating agreement were $90 million as of June 30, 2019 and will reduce annually until expiring in July 2047. Alliant Energy’s obligations under the PPA are subject to a maximum limit of $17 million and expire in December 2031, subject to potential extension. Alliant Energy is not aware of any material liabilities related to this guarantee that it is probable that it will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of June 30, 2019 and December 31, 2018.
IPL
IPL’s Minnesota Electric Distribution Assets - Certain financial information relatingIPL provided indemnifications associated with the 2015 sale of its Minnesota electric distribution assets for losses resulting from potential breach of IPL’s representations, warranties and obligations under the sale agreement. Alliant Energy and IPL believe the likelihood of having to IPL’s business segmentsmake any material cash payments under these indemnifications is remote. IPL has not recorded any material liabilities related to these indemnifications as follows. Intersegment revenuesof June 30, 2019 and December 31, 2018. The general terms of the indemnifications provided by IPL included a maximum limit of $17 million and expire in October 2020.

NOTE 14(d) Environmental Matters -
Manufactured Gas Plant (MGP) Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. At June 30, 2019, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At June 30, 2019, such amounts for WPL were not material to IPL’s operations.material.
 Alliant Energy IPL
Range of estimated future costs
$15
-$31 
$12
-$26
Current and non-current environmental liabilities19 16

 Electric Gas Other Total
 (in millions)
Three Months Ended September 30, 2018       
Revenues
$509.2
 
$26.7
 
$11.7
 
$547.6
Operating income (loss)144.7
 (3.1) 1.5
 143.1
Earnings available for common stock      126.5
Three Months Ended September 30, 2017       
Revenues
$489.0
 
$27.4
 
$11.0
 
$527.4
Operating income (loss)140.0
 (1.8) (4.4) 133.8
Earnings available for common stock      120.4
Nine Months Ended September 30, 2018       
Revenues
$1,337.0
 
$177.0
 
$34.2
 
$1,548.2
Operating income275.7
 16.3
 4.4
 296.4
Earnings available for common stock      224.9
Nine Months Ended September 30, 2017       
Revenues
$1,217.6
 
$147.2
 
$33.3
 
$1,398.1
Operating income (loss)239.2
 15.4
 (1.4) 253.2
Earnings available for common stock      200.4


IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential Clean Air Act issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include fuel switching or retiring Burlington by December 31, 2021 and Prairie Creek Units 1 and 3 by December 31, 2025. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to compliance with the terms of the Consent Decree from IPL’s electric customers.


Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however future capital investments and/or modifications to EGUs to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters include, among others: Effluent Limitation Guidelines, Coal Combustion Residuals Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including the Clean Air Act.

Clean Air Act Section 111(d) - In July 2019, the EPA published the final Affordable Clean Energy rule, which repeals the Clean Power Plan effective September 6, 2019. The final rule establishes emission guidelines for states to develop plans by July 2022 to reduce carbon dioxide emissions from existing coal-fired EGUs, and is subject to legal challenges. Alliant Energy, IPL and WPL are currently unable to predict with certainty the final outcome or impact of these matters.


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WPLNOTE 14(e) Collective Bargaining Agreements - Certain financial information relating to WPL’s business segments is as follows. Intersegment revenues were not material to WPL’s operations.
 Electric Gas Other Total
 (in millions)
Three Months Ended September 30, 2018       
Revenues
$352.0
 
$18.1
 
$0.6
 
$370.7
Operating income (loss)104.0
 1.1
 (0.9) 104.2
Earnings available for common stock      76.3
Three Months Ended September 30, 2017       
Revenues
$351.6
 
$18.4
 
$0.2
 
$370.2
Operating income (loss)96.7
 0.1
 (3.3) 93.5
Earnings available for common stock      49.8
Nine Months Ended September 30, 2018       
Revenues
$959.2
 
$122.0
 
$2.0
 
$1,083.2
Operating income (loss)234.5
 18.6
 (1.5) 251.6
Earnings available for common stock      170.1
Nine Months Ended September 30, 2017       
Revenues
$981.5
 
$115.5
 
$1.1
 
$1,098.1
Operating income (loss)247.7
 15.9
 (5.3) 258.3
Earnings available for common stock      133.4

NOTE 15. RELATED PARTIES
Service Agreements - Pursuant to serviceAt June 30, 2019, employees covered by collective bargaining agreements IPLrepresented 54%, 60% and WPL receive various administrative and general services from an affiliate, Corporate Services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit82% of total employees of Alliant Energy, IPL and WPL, respectively. These costs consisted primarilyOn May 31, 2019, WPL’s collective bargaining agreement with International Brotherhood of employee compensationElectrical Workers Local 965 expired, representing 27% and benefits, fees associated with various professional services, depreciation and amortization82% of property, plant and equipment, and a return on net assets. Corporate Services also acts as agent on behalftotal employees of IPLAlliant Energy and WPL, pursuantrespectively. The parties continue to negotiate, and signed an extension that continues until a tentative agreement is ratified or either party gives 30 days’ notice to cancel the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO. Corporate Services assigns such sales and purchases among IPLextension. Alliant Energy and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases forare currently unable to predict the three and nine months ended September 30 were as follows (in millions):outcome of this matter.

 IPL WPL
 Three Months Nine Months Three Months Nine Months
 2018 2017 2018 2017 2018 2017 2018 2017
Corporate Services billings
$43
 
$48
 
$128
 
$130
 
$33
 
$37
 
$100
 
$100
Sales credited11
 8
 34
 15
 7
 6
 16
 8
Purchases billed95
 109
 268
 271
 19
 32
 56
 99

Net intercompany payables to Corporate Services were as follows (in millions):
 IPL WPL
 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017
Net payables to Corporate Services$109 $114 $65 $61

ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties for the three and nine months ended September 30 were as follows (in millions):
 Three Months Nine Months
 2018 2017 2018 2017
ATC billings to WPL
$26
 
$26
 
$79
 
$79
WPL billings to ATC3
 2
 8
 8

WPL owed ATC net amounts of $8 million as of September 30, 2018 and $9 million as of December 31, 2017.


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NOTE 15. SEGMENTS OF BUSINESS
Alliant Energy - Certain financial information relating to Alliant Energy’s business segments is as follows. Intersegment revenues were not material to Alliant Energy’s operations.
         ATC Holdings, Alliant
 Utility Non-Utility, Energy
 Electric Gas Other Total Parent and Other Consolidated
 (in millions)
Three Months Ended June 30, 2019           
Revenues
$691.2
 
$65.2
 
$10.9
 
$767.3
 
$22.9
 
$790.2
Operating income132.9
 7.2
 1.4
 141.5
 8.3
 149.8
Net income attributable to Alliant Energy common shareowners      87.0
 7.6
 94.6
Three Months Ended June 30, 2018           
Revenues
$726.3
 
$68.6
 
$10.7
 
$805.6
 
$10.5
 
$816.1
Operating income134.8
 5.4
 0.9
 141.1
 10.1
 151.2
Net income attributable to Alliant Energy common shareowners      91.5
 8.9
 100.4
         ATC Holdings, Alliant
 Utility Non-Utility, Energy
 Electric Gas Other Total Parent and Other Consolidated
 (in millions)
Six Months Ended June 30, 2019           
Revenues
$1,434.6
 
$281.0
 
$22.0
 
$1,737.6
 
$39.8
 
$1,777.4
Operating income259.3
 52.4
 1.4
 313.1
 13.5
 326.6
Net income attributable to Alliant Energy common shareowners      206.0
 13.7
 219.7
Six Months Ended June 30, 2018           
Revenues
$1,435.0
 
$254.2
 
$23.9
 
$1,713.1
 
$19.3
 
$1,732.4
Operating income261.5
 36.9
 2.3
 300.7
 16.2
 316.9
Net income attributable to Alliant Energy common shareowners

      192.2
 29.1
 221.3



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IPL - Certain financial information relating to IPL’s business segments is as follows. Intersegment revenues were not material to IPL’s operations.
 Electric Gas Other Total
 (in millions)
Three Months Ended June 30, 2019       
Revenues
$392.3
 
$38.4
 
$10.5
 
$441.2
Operating income68.9
 4.2
 1.4
 74.5
Earnings available for common stock      45.0
Three Months Ended June 30, 2018       
Revenues
$422.1
 
$42.2
 
$10.5
 
$474.8
Operating income73.5
 2.5
 1.7
 77.7
Earnings available for common stock      51.7
Six Months Ended June 30, 2019       
Revenues
$812.1
 
$163.0
 
$21.2
 
$996.3
Operating income115.7
 30.5
 1.8
 148.0
Earnings available for common stock      98.3
Six Months Ended June 30, 2018       
Revenues
$827.8
 
$150.3
 
$22.5
 
$1,000.6
Operating income131.0
 19.4
 2.9
 153.3
Earnings available for common stock      98.4


WPL - Certain financial information relating to WPL’s business segments is as follows. Intersegment revenues were not material to WPL’s operations.
 Electric Gas Other Total
 (in millions)
Three Months Ended June 30, 2019       
Revenues
$298.9
 
$26.8
 
$0.4
 
$326.1
Operating income64.0
 3.0
 —
 67.0
Earnings available for common stock      42.0
Three Months Ended June 30, 2018       
Revenues
$304.2
 
$26.4
 
$0.2
 
$330.8
Operating income (loss)61.3
 2.9
 (0.8) 63.4
Earnings available for common stock      39.8
Six Months Ended June 30, 2019       
Revenues
$622.5
 
$118.0
 
$0.8
 
$741.3
Operating income (loss)143.6
 21.9
 (0.4) 165.1
Earnings available for common stock      107.7
Six Months Ended June 30, 2018       
Revenues
$607.2
 
$103.9
 
$1.4
 
$712.5
Operating income (loss)130.5
 17.5
 (0.6) 147.4
Earnings available for common stock      93.8


NOTE 16. RELATED PARTIES
Service Agreements - Pursuant to service agreements, IPL and WPL receive various administrative and general services from an affiliate, Corporate Services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services, depreciation and amortization of property, plant and equipment, and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three and six months ended June 30 were as follows (in millions):

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 IPL WPL
 Three Months Six Months Three Months Six Months
 2019 2018 2019 2018 2019 2018 2019 2018
Corporate Services billings
$47
 
$44
 
$90
 
$85
 
$35
 
$34
 
$68
 
$67
Sales credited12
 18
 27
 23
 3
 8
 4
 9
Purchases billed74
 80
 158
 173
 29
 20
 59
 37


Net intercompany payables to Corporate Services were as follows (in millions):
 IPL WPL
 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018
Net payables to Corporate Services$108 $95 $72 $71


ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties for the three and six months ended June 30 were as follows (in millions):
 Three Months Six Months
 2019 2018 2019 2018
ATC billings to WPL
$27
 
$26
 
$54
 
$53
WPL billings to ATC3
 3
 7
 5


WPL owed ATC net amounts of $8 million as of June 30, 2019 and $8 million as of December 31, 2018.

WPL’s Sheboygan Falls Energy Facility Lease - Refer to Note 7 for discussion of WPL’s Sheboygan Falls Energy Facility lease.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


This MDA includes information relating to Alliant Energy, and IPL and WPL (collectively, the Utilities), as well as ATC Holdings, AEF and Corporate Services. Where appropriate, information relating to a specific entity has been segregated and labeled as such. The following discussion and analysis should be read in conjunction with the Financial Statements and the Notes included in this report, as well as the financial statements, notes and MDA included in the 20172018Form 10-K.10-K. Unless otherwise noted, all “per share” references in MDA refer to earnings per diluted share.


2019 HIGHLIGHTS

Key highlights since the filing of the 2018 Form 10-K include the following:

•
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. Intervenor testimony was filed in August 2019 addressing, among other things, the return on common equity percentage used to calculate the interim rate increase, as well as various positions on rate design and revenue requirement, including authorized returns on production tax credits carryforwards, for final rates.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 rate 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, are reflected on electric 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.

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In April 2019, IPL issued $300 million of 3.60% 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.
In June 2019, WPL issued $350 million of 3.00% debentures due 2029. The net proceeds from the issuance were used by WPL to reduce its outstanding commercial paper and retire its $250 million 5% debentures that matured in July 2019.

RESULTS OF OPERATIONS

Overview - Alliant Energy’s net income and earnings per weighted average common share (EPS) attributable to Alliant Energy common shareowners for the third quarter were as follows (dollars in millions, except per share amounts):
 2018 2017
 Income (Loss) EPS Income (Loss) EPS
Utilities and Corporate Services
$206.3
 
$0.88
 
$173.6
 
$0.75
ATC Holdings6.3
 0.03
 6.1
 0.03
Non-utility and Parent(7.1) (0.04) (10.9) (0.05)
Alliant Energy Consolidated
$205.5
 
$0.87
 
$168.8
 
$0.73

The table above includes EPS for Utilities and Corporate Services, ATC Holdings, and Non-utility and Parent, which are non-GAAP financial measures. Alliant Energy believes these non-GAAP financial measures are useful to investors because they facilitate an understanding of segment performance and trends, and provide additional information about Alliant Energy’s operations on a basis consistent with the measures that management uses to manage its operations and evaluate its performance.

Alliant Energy’s, IPL’s and WPL’s net income increased by $37 million, $6 million and $27 million, respectively, for the three-month period. Alliant Energy’s increase was primarily due to higher retail electric sales due to warmer temperatures in the third quarter of 2018 compared to the same period in 2017, higher margins resulting from IPL’s and WPL’s increasing rate base, and higher AFUDC. These items were partially offset by higher depreciation expense. Additional earnings details for the three and nine months ended September 30, 2018 and 2017 are discussed below.


Results of operations include financial information prepared in accordance with GAAP as well as utility electric margins and utility gas margins, which are not measures of financial performance under GAAP. Utility electric margins are defined as electric revenues less electric production fuel, purchased power and electric transmission service expenses. Utility gas margins are defined as gas revenues less cost of gas sold. Utility electric margins and utility gas margins are non-GAAP financial measures because they exclude other utility and non-utility revenues, other operation and maintenance expenses, depreciation and amortization expenses, and taxes other than income tax expense.


Management believes that utility electric and gas margins provide a meaningful basis for evaluating and managing utility operations since electric production fuel, purchased power and electric transmission service expenses and cost of gas sold are generally passed through to customers, and therefore, result in changes to electric and gas revenues that are comparable to changes in such expenses. The presentation of utility electric and gas margins herein is intended to provide supplemental information for investors regarding operating performance. These utility electric and gas margins may not be comparable to how other entities define utility electric and gas margin. Furthermore, these measures are not intended to replace operating income as determined in accordance with GAAP as an indicator of operating performance.



Additionally, the table below includes EPS for Utilities and Corporate Services, ATC Holdings, and Non-utility and Parent, which are non-GAAP financial measures. Alliant Energy believes these non-GAAP financial measures are useful to investors because they facilitate an understanding of segment performance and trends, and provide additional information about Alliant Energy’s operations on a basis consistent with the measures that management uses to manage its operations and evaluate its performance.

Financial Results Overview - Alliant Energy’s net income and EPS attributable to Alliant Energy common shareowners for the second quarter were as follows (dollars in millions, except per share amounts):
 2019 2018
 Income (Loss) EPS Income (Loss) EPS
Utilities and Corporate Services
$90.1
 
$0.38
 
$94.8
 
$0.41
ATC Holdings7.5
 0.03
 6.7
 0.03
Non-utility and Parent(3.0) (0.01) (1.1) (0.01)
Alliant Energy Consolidated
$94.6
 
$0.40
 
$100.4
 
$0.43

Alliant Energy’s Utilities and Corporate Services net income decreased by $5 million for the three-month period, primarily due to lower retail electric sales due to cooler temperatures in the second quarter of 2019 compared to the same period last year, higher depreciation expense and timing of income tax expense. These items were partially offset by higher margins resulting from IPL’s and WPL’s increasing rate base.


 31 
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For the three and ninesix months ended SeptemberJune 30, operating income and a reconciliation of utility electric and gas margins to the most directly comparable GAAP measure, operating income, was as follows (in millions):
Alliant Energy IPL WPLAlliant Energy IPL WPL
Three Months2018 2017 2018 2017 2018 20172019 2018 2019 2018 2019 2018
Operating income
$256.1
 
$236.3
 
$143.1
 
$133.8
 
$104.2
 
$93.5

$149.8
 
$151.2
 
$74.5
 
$77.7
 
$67.0
 
$63.4
                      
Electric utility revenues
$861.2
 
$840.6
 
$509.2
 
$489.0
 
$352.0
 
$351.6

$691.2
 
$726.3
 
$392.3
 
$422.1
 
$298.9
 
$304.2
Electric production fuel and purchased power expenses(227.8) (222.6) (122.5) (122.5) (105.3) (100.1)(164.8) (208.5) (83.3) (116.9) (81.5) (91.6)
Electric transmission service expense(129.1) (121.0) (92.8) (78.2) (36.3) (42.8)(112.4) (119.7) (77.4) (84.4) (35.0) (35.3)
Utility Electric Margin (non-GAAP)504.3
 497.0
 293.9
 288.3
 210.4
 208.7
414.0
 398.1
 231.6
 220.8
 182.4
 177.3
                      
Gas utility revenues44.8
 45.8
 26.7
 27.4
 18.1
 18.4
65.2
 68.6
 38.4
 42.2
 26.8
 26.4
Cost of gas sold(11.3) (15.0) (6.4) (9.9) (4.9) (5.1)(20.4) (27.5) (10.8) (16.8) (9.6) (10.7)
Utility Gas Margin (non-GAAP)33.5
 30.8
 20.3
 17.5
 13.2
 13.3
44.8
 41.1
 27.6
 25.4
 17.2
 15.7
                      
Other utility revenues12.3
 11.2
 11.7
 11.0
 0.6
 0.2
10.9
 10.7
 10.5
 10.5
 0.4
 0.2
Non-utility revenues10.3
 9.3
 —
 —
 —
 —
22.9
 10.5
 —
 —
 —
 —
Other operation and maintenance expenses(148.4) (164.3) (94.6) (102.4) (54.2) (63.3)(172.3) (158.0) (97.4) (97.0) (62.4) (62.3)
Depreciation and amortization expenses(129.0) (120.7) (73.9) (66.2) (54.1) (53.6)(142.9) (127.0) (82.6) (70.5) (59.1) (55.5)
Taxes other than income tax expense(26.9) (27.0) (14.3) (14.4) (11.7) (11.8)(27.6) (24.2) (15.2) (11.5) (11.5) (12.0)
Operating income
$256.1
 
$236.3
 
$143.1
 
$133.8
 
$104.2
 
$93.5

$149.8
 
$151.2
 
$74.5
 
$77.7
 
$67.0
 
$63.4
Alliant Energy IPL WPLAlliant Energy IPL WPL
Nine Months2018 2017 2018 2017 2018 2017
Six Months2019 2018 2019 2018 2019 2018
Operating income
$573.0
 
$537.2
 
$296.4
 
$253.2
 
$251.6
 
$258.3

$326.6
 
$316.9
 
$148.0
 
$153.3
 
$165.1
 
$147.4
                      
Electric utility revenues
$2,296.2
 
$2,199.1
 
$1,337.0
 
$1,217.6
 
$959.2
 
$981.5

$1,434.6
 
$1,435.0
 
$812.1
 
$827.8
 
$622.5
 
$607.2
Electric production fuel and purchased power expenses(639.5) (614.7) (354.0) (330.0) (285.5) (284.7)(383.2) (411.7) (212.2) (231.5) (171.0) (180.2)
Electric transmission service expense(375.2) (363.3) (268.0) (235.0) (107.2) (128.3)(235.4) (246.1) (165.1) (175.2) (70.3) (70.9)
Utility Electric Margin (non-GAAP)1,281.5
 1,221.1
 715.0
 652.6
 566.5
 568.5
816.0
 777.2
 434.8
 421.1
 381.2
 356.1
                      
Gas utility revenues299.0
 262.7
 177.0
 147.2
 122.0
 115.5
281.0
 254.2
 163.0
 150.3
 118.0
 103.9
Cost of gas sold(150.0) (135.5) (83.8) (74.6) (66.2) (60.9)(142.0) (138.7) (74.1) (77.4) (67.9) (61.3)
Utility Gas Margin (non-GAAP)149.0
 127.2
 93.2
 72.6
 55.8
 54.6
139.0
 115.5
 88.9
 72.9
 50.1
 42.6
                      
Other utility revenues36.2
 34.4
 34.2
 33.3
 2.0
 1.1
22.0
 23.9
 21.2
 22.5
 0.8
 1.4
Non-utility revenues29.6
 29.9
 —
 —
 —
 —
39.8
 19.3
 —
 —
 —
 —
Other operation and maintenance expenses(468.8) (453.6) (297.1) (283.2) (172.8) (171.8)(353.5) (320.4) (205.4) (202.5) (125.9) (118.6)
Depreciation and amortization expenses(376.4) (342.7) (209.2) (181.0) (164.2) (158.8)(279.8) (247.4) (159.7) (135.3) (117.7) (110.1)
Taxes other than income tax expense(78.1) (79.1) (39.7) (41.1) (35.7) (35.3)(56.9) (51.2) (31.8) (25.4) (23.4) (24.0)
Operating income
$573.0
 
$537.2
 
$296.4
 
$253.2
 
$251.6
 
$258.3

$326.6
 
$316.9
 
$148.0
 
$153.3
 
$165.1
 
$147.4


Operating Income Variances - Variances between periods in operating income for the three and ninesix months ended SeptemberJune 30, 20182019 compared to the same periods in 20172018 were as follows (in millions):
 Three Months Nine Months
 Alliant Energy IPL WPL Alliant Energy IPL WPL
Total higher (lower) utility electric margin variance (refer to details below)
$7
 
$6
 
$2
 
$60
 
$62
 
($2)
Total higher utility gas margin variance (refer to details below)3
 3
 —
 22
 21
 1
Total (higher) lower other operation and maintenance expenses variance (refer to details below)16
 8
 9
 (15) (14) (1)
Higher depreciation and amortization expense, primarily due to new IPL depreciation rates effective May 2018 and additional plant in service in 2017 and 2018. Depreciation commenced on IPL’s Marshalltown Generating Station in April 2017.(13) (13) (1) (39) (33) (5)
Lower depreciation expense at IPL due to write-down of regulatory assets in 2017 resulting from the IPL electric rate review settlement5
 5
 —
 5
 5
 —
Other2
 —
 1
 3
 2
 —
 
$20
 
$9
 
$11
 
$36
 
$43
 
($7)
 Three Months Six Months
 Alliant Energy IPL WPL Alliant Energy IPL WPL
Total higher utility electric margin variance (Refer to details below)
$16
 
$11
 
$5
 
$39
 
$14
 
$25
Total higher utility gas margin variance (Refer to details below)4
 2
 2
 24
 16
 8
Higher non-utility revenues due to AEF’s new acquisitions12
 —
 —
 21
 —
 —
Total higher other operation and maintenance expenses variance (Refer to details below)(14) —
 —
 (33) (3) (7)
Higher depreciation and amortization expense, primarily due to additional plant in service in 2018 and 2019 and new IPL depreciation rates effective May 2018(16) (12) (4) (32) (24) (8)
Other(3) (4) 1
 (9) (8) —
 
($1) 
($3) 
$4
 
$10
 
($5) 
$18




 32 
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Electric and Gas Revenues and Sales Summary - Electric and gas revenues (in millions), and MWh and Dth sales (in thousands), for the three and ninesix months ended SeptemberJune 30 were as follows:
Alliant EnergyElectric GasElectric Gas
Revenues MWhs Sold Revenues Dths SoldRevenues MWhs Sold Revenues Dths Sold
2018 2017 2018 2017 2018 2017 2018 20172019 2018 2019 2018 2019 2018 2019 2018
Three Months                              
Retail
$776.1
 
$745.7
 6,892
 6,722
 
$35.8
 
$37.4
 3,867
 3,744

$618.8
 
$646.0
 5,815
 6,171
 
$53.3
 
$59.6
 7,037
 7,963
Sales for resale70.2
 75.6
 1,675
 1,390
 —
 —
 —
 —
55.6
 68.0
 1,408
 1,761
 N/A
 N/A
 N/A
 N/A
Transportation/Other14.9
 19.3
 19
 22
 9.0
 8.4
 23,213
 19,787
16.8
 12.3
 22
 22
 11.9
 9.0
 21,423
 20,612

$861.2
 
$840.6
 8,586
 8,134
 
$44.8
 
$45.8
 27,080
 23,531

$691.2
 
$726.3
 7,245
 7,954
 
$65.2
 
$68.6
 28,460
 28,575
Nine Months               
Six Months               
Retail
$2,057.4
 
$1,950.4
 19,399
 18,851
 
$268.8
 
$236.9
 35,678
 30,971

$1,283.3
 
$1,281.3
 12,167
 12,507
 
$254.1
 
$233.0
 33,416
 31,811
Sales for resale198.8
 204.8
 4,557
 3,564
 —
 —
 —
 —
119.1
 128.6
 2,832
 2,882
 N/A
 N/A
 N/A
 N/A
Transportation/Other40.0
 43.9
 67
 72
 30.2
 25.8
 67,886
 54,849
32.2
 25.1
 48
 48
 26.9
 21.2
 46,793
 44,673

$2,296.2
 
$2,199.1
 24,023
 22,487
 
$299.0
 
$262.7
 103,564
 85,820

$1,434.6
 
$1,435.0
 15,047
 15,437
 
$281.0
 
$254.2
 80,209
 76,484
IPLElectric GasElectric Gas
Revenues MWhs Sold Revenues Dths SoldRevenues MWhs Sold Revenues Dths Sold
2018 2017 2018 2017 2018 2017 2018 20172019 2018 2019 2018 2019 2018 2019 2018
Three Months                              
Retail
$467.5
 
$443.3
 3,838
 3,784
 
$21.0
 
$22.0
 2,060
 2,189

$355.7
 
$382.3
 3,250
 3,553
 
$30.4
 
$36.0
 3,373
 4,086
Sales for resale31.0
 33.6
 917
 692
 —
 —
 —
 —
25.9
 30.9
 900
 1,000
 N/A
 N/A
 N/A
 N/A
Transportation/Other10.7
 12.1
 10
 9
 5.7
 5.4
 8,994
 9,374
10.7
 8.9
 9
 9
 8.0
 6.2
 8,820
 8,676

$509.2
 
$489.0
 4,765
 4,485
 
$26.7
 
$27.4
 11,054
 11,563

$392.3
 
$422.1
 4,159
 4,562
 
$38.4
 
$42.2
 12,193
 12,762
Nine Months               
Six Months               
Retail
$1,218.4
 
$1,105.5
 11,060
 10,761
 
$156.8
 
$129.9
 18,838
 16,548

$735.9
 
$750.9
 6,879
 7,222
 
$146.3
 
$135.8
 17,366
 16,778
Sales for resale91.6
 83.5
 2,444
 1,527
 —
 —
 —
 —
57.9
 60.6
 1,827
 1,527
 N/A
 N/A
 N/A
 N/A
Transportation/Other27.0
 28.6
 28
 30
 20.2
 17.3
 28,893
 29,092
18.3
 16.3
 18
 18
 16.7
 14.5
 19,827
 19,899

$1,337.0
 
$1,217.6
 13,532
 12,318
 
$177.0
 
$147.2
 47,731
 45,640

$812.1
 
$827.8
 8,724
 8,767
 
$163.0
 
$150.3
 37,193
 36,677
WPLElectric GasElectric Gas
Revenues MWhs Sold Revenues Dths SoldRevenues MWhs Sold Revenues Dths Sold
2018 2017 2018 2017 2018 2017 2018 20172019 2018 2019 2018 2019 2018 2019 2018
Three Months                              
Retail
$308.6
 
$302.4
 3,054
 2,938
 
$14.8
 
$15.4
 1,807
 1,555

$263.1
 
$263.7
 2,565
 2,618
 
$22.9
 
$23.6
 3,664
 3,877
Sales for resale39.2
 42.0
 758
 698
 —
 —
 —
 —
29.7
 37.1
 508
 761
 N/A
 N/A
 N/A
 N/A
Transportation/Other4.2
 7.2
 9
 13
 3.3
 3.0
 14,219
 10,413
6.1
 3.4
 13
 13
 3.9
 2.8
 12,603
 11,936

$352.0
 
$351.6
 3,821
 3,649
 
$18.1
 
$18.4
 16,026
 11,968

$298.9
 
$304.2
 3,086
 3,392
 
$26.8
 
$26.4
 16,267
 15,813
Nine Months               
Six Months               
Retail
$839.0
 
$844.9
 8,339
 8,090
 
$112.0
 
$107.0
 16,840
 14,423

$547.4
 
$530.4
 5,288
 5,285
 
$107.8
 
$97.2
 16,050
 15,033
Sales for resale107.2
 121.3
 2,113
 2,037
 —
 —
 —
 —
61.2
 68.0
 1,005
 1,355
 N/A
 N/A
 N/A
 N/A
Transportation/Other13.0
 15.3
 39
 42
 10.0
 
$8.5
 38,993
 25,757
13.9
 8.8
 30
 30
 10.2
 
$6.7
 26,966
 24,774

$959.2
 
$981.5
 10,491
 10,169
 
$122.0
 
$115.5
 55,833
 40,180

$622.5
 
$607.2
 6,323
 6,670
 
$118.0
 
$103.9
 43,016
 39,807


Temperatures - Heating degree days (HDD)Sales Trends and cooling degree days (CDD) are calculated using a simple average ofTemperatures - Alliant Energy’s retail electric sales volumes decreased 6% and 3% for the highthree and low temperatures each daysix months ended June 30, 2019 compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year averagethe same periods in 2018, respectively. The decrease was primarily due to the impact of historical HDDlower residential and CDD. The following table summarizescommercial sales due to cooler temperatures during the approximate quarterly temperature statistics and resulting impacts on IPL’s and WPL’sthree months ended June 30, 2019.

Estimated increases to electric and gas sales.margins from the impacts of temperatures for the three and six months ended June 30 were as follows (in millions):
 2018 2017 Resulting Impact in 2018 Compared to 2017
First quarter (HDD)2% colder than normal 13% warmer than normal Increase in IPL’s and WPL’s electric and gas sales due to higher demand by customers for heating
Second quarter (CDD)63% warmer than normal 2% cooler - 13% warmer than normal Increase in IPL’s and WPL’s electric sales due to higher demand by customers for air cooling
Third quarter (CDD)10% warmer than normal 7% - 14% cooler than normal Increase in IPL’s and WPL’s electric sales due to higher demand by customers for air cooling
 Electric Margins Gas Margins
 Three Months Six Months Three Months Six Months
 2019 2018 Change 2019 2018 Change 2019 2018 Change 2019 2018 Change
IPL
($3) 
$14
 
($17) 
$3
 
$14
 
($11) 
$1
 
$1
 
$—
 
$4
 
$1
 
$3
WPL(4) 6
 (10) —
 7
 (7) —
 —
 —
 2
 1
 1
Total Alliant Energy
($7) 
$20
 
($27) 
$3
 
$21
 
($18) 
$1
 
$1
 
$—
 
$6
 
$2
 
$4




 33 
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Estimated increases (decreases) to electric and gas margins from the impacts of temperatures for the three and nine months ended September 30 were as follows (in millions):
 Electric Margins Gas Margins
 Three Months Nine Months Three Months Nine Months
 2018 2017 Change 2018 2017 Change 2018 2017 Change 2018 2017 Change
IPL
$4
 
($4) 
$8
 
$18
 
($8) 
$26
 
$—
 
$—
 
$—
 
$1
 
($3) 
$4
WPL3
 (4) 7
 10
 (9) 19
 —
 (1) 1
 1
 (3) 4
Total Alliant Energy
$7
 
($8) 
$15
 
$28
 
($17) 
$45
 
$—
 
($1) 
$1
 
$2
 
($6) 
$8

Utility Electric Margin Variances - The following items contributed to increased (decreased) utility electric margins for the three and ninesix months ended SeptemberJune 30, 20182019 compared to the same periods in 20172018 as follows (in millions):
 Three Months Nine Months
 Alliant Energy IPL WPL Alliant Energy IPL WPL
Estimated changes in sales volumes caused by temperatures (Refer to “Temperatures” above for details)
$15
 
$8
 
$7
 
$45
 
$26
 
$19
Higher revenues at IPL due to changes in electric tax benefit rider credits on customers’ bills12
 12
 —
 40
 40
 —
Higher margins at IPL from the impact of its 2016 Test Year retail electric base rate increases (Refer to Note 2 for details)
8
 8
 —
 36
 36
 —
Lower transmission cost recovery amortization at WPL (a)7
 —
 7
 20
 —
 20
Changes in electric fuel-related costs, net of recoveries at WPL (b)3
 —
 3
 11
 —
 11
Decrease in revenues due to deferral of higher taxes collected to be returned to customers (deferral is offset by lower tax expense from the effects of Federal Tax Reform) (Refer to Note 2 for details)
(31) (20) (11) (65) (34) (31)
Lower wholesale margins at WPL primarily due to the expiration of wholesale power supply agreements in 2017(1) —
 (1) (11) —
 (11)
Other (primarily includes reduction in WPL’s margins due to its earnings sharing mechanism (Refer to Note 2 for details))
(6) (2) (3) (16) (6) (10)
 
$7
 
$6
 
$2
 
$60
 
$62
 
($2)
 Three Months Six Months
 Alliant Energy IPL WPL Alliant Energy IPL WPL
Impact of IPL’s retail electric interim and final base rate increases effective April 2019 and May 2018, respectively (a)
$30
 
$30
 
$—
 
$36
 
$36
 
$—
Higher margins at WPL from earning on increasing rate base for rates effective January 201913
 —
 13
 26
 —
 26
Estimated changes in sales volumes caused by temperatures(27) (17) (10) (18) (11) (7)
Higher (lower) revenues at IPL due to changes in electric tax benefit rider credits on customers’ bills (offset by changes in income tax expense)3
 3
 —
 (2) (2) —
Other(3) (5) 2
 (3) (9) 6
 
$16
 
$11
 
$5
 
$39
 
$14
 
$25


(a)The December 2016 PSCW order for WPL’s 2017/2018 Test PeriodIPL’s interim retail electric and gas base rate review authorized changesincrease effective April 1, 2019 was reduced by anticipated production tax credits for IPL’s new wind generation placed in electric transmission cost recovery amortizations for 2018.
(b)
WPL estimatesservice in March 2019. This reduction in revenue requirement is expected to be offset by a reduction in income tax expense resulting from production tax credits recognized from the decrease to electric margins from amounts within the PSCW approved bandwidth of plus or minus 2% of forecasted fuel-related expenses was approximately $6 million for the nine months ended September 30, 2017. The impact to electric margins from amounts within the bandwidth was an increase of approximately $3 million and $5 million for the three and nine months ended September 30, 2018, respectively.
new wind generation.


Electric Sales Trends - Alliant Energy’s retail electric sales volumes increased 3% for both the three and nine months ended September 30, 2018 compared to the same periods in 2017. The increase was primarily due to the impact of higher residential and commercial sales, which were related to changes in temperatures in Alliant Energy’s service territories. Refer to “Temperatures” above for further details.

Utility Gas Margin Variances - The following items contributed to increased (decreased) utility gas margins for the three and ninesix months ended SeptemberJune 30, 20182019 compared to the same periods in 20172018 as follows (in millions):
 Three Months Nine Months
 Alliant Energy IPL WPL Alliant Energy IPL WPL
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 included in other operation and maintenance expenses)
$—
 
$—
 
$—
 
$10
 
$10
 
$—
Estimated changes in sales volumes caused by temperatures (Refer to “Temperatures” above for details)1
 —
 1
 8
 4
 4
Higher margins at IPL from the impact of its 2017 Test Year interim retail gas base rate increase (Refer to Note 2 for details)
2
 2
 —
 3
 3
 —
Other—
 1
 (1) 1
 4
 (3)
 
$3
 
$3
 
$—
 
$22
 
$21
 
$1
 Three Months Six Months
 Alliant Energy IPL WPL Alliant Energy IPL WPL
Impact of IPL’s retail gas final base rate increase effective January 2019
$1
 
$1
 
$—
 
$8
 
$8
 
$—
Higher margins at WPL from earning on increasing rate base for rates effective January 20193
 —
 3
 5
 —
 5
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
 —
Other—
 1
 (1) 4
 2
 2
 
$4
 
$2
 
$2
 
$24
 
$16
 
$8



Other Operation and Maintenance Expenses Variances - The following items contributed to (increased) decreased other operation and maintenance expenses for the three and six months ended June 30, 2019 compared to the same periods in 2018 as follows (in millions):
 Three Months Six Months
 Alliant Energy IPL WPL Alliant Energy IPL WPL
Higher operation expense at AEF due to new acquisitions
($12) 
$—
 
$—
 
($19) 
$—
 
$—
Higher energy efficiency cost recovery amortizations at WPL pursuant to authorization from Public Service Commission of Wisconsin rate order effective January 2019(3) —
 (3) (7) —
 (7)
Higher energy efficiency expense at IPL (primarily offset by higher gas revenues)—
 —
 —
 (4) (4) —
Other1
 —
 3
 (3) 1
 —
 
($14) 
$—
 
$—
 
($33) 
($3) 
($7)


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Other Operation and Maintenance Expenses - The following items contributed to (increased) decreased other operation and maintenance expenses for the three and nine months ended September 30, 2018 compared to the same periods in 2017 as follows (in millions):
 Three Months Nine Months
 Alliant Energy IPL WPL Alliant Energy IPL WPL
Higher performance compensation expense
($1) 
($1) 
($1) 
($10) 
($6) 
($4)
Higher energy efficiency expense at IPL (primarily offset by gas revenues)(1) (1) —
 (9) (9) —
Lower (higher) generation operation and maintenance expenses2
 1
 1
 (8) (2) (6)
Lower energy efficiency cost recovery amortizations at WPL3
 —
 3
 9
 —
 9
Charges related to cancelled software projects in 20176
 3
 3
 6
 3
 3
Write-down of regulatory assets in 2017 due to the IPL electric rate review settlement4
 4
 —
 4
 4
 —
Other3
 2
 3
 (7) (4) (3)
 
$16
 
$8
 
$9
 
($15) 
($14) 
($1)

Other Income and Deductions Variances - The following items contributed to (increased) decreased other income and deductions for the three and ninesix months ended SeptemberJune 30, 20182019 compared to the same periods in 20172018 as follows (in millions):
Three Months Nine MonthsThree Months Six Months
Alliant Energy IPL WPL Alliant Energy IPL WPLAlliant Energy IPL WPL Alliant Energy IPL WPL
Higher interest expense primarily due to higher average outstanding long-term debt balances
($9) 
($3) 
($1) 
($25) 
($7) 
($4)
($8) 
($1) 
($2) 
($15) 
($1) 
($3)
Higher AFUDC primarily due to increased construction work in progress balances related to new wind generation and WPL’s West Riverside Energy Center9
 6
 3
 15
 3
 12
Higher equity income primarily related to increased earnings from the non-utility wind farm in Oklahoma (Refer to Note 5 for details)
—
 —
 —
 9
 —
 —
Lower equity income 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(2) —
 —
 (12) —
 —
Higher (lower) allowance for funds used during construction primarily due to changes in construction work in progress balances related to IPL’s new wind generation and WPL’s West Riverside Energy Center—
 (2) 2
 11
 6
 4
Other3
 2
 1
 7
 3
 3
3
 (1) —
 1
 (1) —

$3
 
$5
 
$3
 
$6
 
($1) 
$11

($7) 
($4) 
$—
 
($15) 
$4
 
$1


Income Taxes - Refer to Note 9 for details of effective income tax rates from continuing operations, including adjustments related to Federal Tax Reform clarifications that were issued in the third quarter of 2018.rates.


STRATEGIC OVERVIEW

The strategic overview summary included in the 2017 Form 10-K has not changed materially, except as described below.

Generation Plans -
Wind Generation - The strategic plan includes the planned development of up to 1,200 MW of wind generation in aggregate (up to 1,000 MW at IPL and up to 200 MW at WPL).

IPL’s Expansion of Wind Generation - In April 2018, IPL received approval from the IUB for advance rate-making principles for up to 500 MW of new wind generation, which is in addition to the 500 MW of new wind generation approved by the IUB in October 2016. The April 2018 IUB decision approved IPL’s requested advance rate-making principles, except for the return on common equity for the calculation of AFUDC during the construction period, of which the IUB approved a return of 9.6%.

IPL currently has on-going, new wind generation development of up to 1,000 MW utilizing the following wind sites:
Wind SiteNameplate CapacityExpected In-service DateLocation
Upland PrairieUp to 300 MW2019Clay and Dickinson Counties, Iowa
English FarmsUp to 170 MW2019Poweshiek County, Iowa
Golden PlainsUp to 200 MW2020Winnebago and Kossuth Counties, Iowa
Whispering Willow ExpansionUp to 200 MW2020Franklin County, Iowa
RichlandUp to 130 MW2020Sac County, Iowa


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WPL’s Expansion of Wind Generation - In May 2018, WPL filed for approval from the PSCW to own up to 150 MW of new wind generation in Kossuth County, Iowa. WPL has entered into an agreement to purchase the wind farm after development is complete, pending approval from the PSCW, which is currently expected in early 2019. If approved, construction is currently expected to start in summer 2019 and the wind farm is currently expected to be placed in service in 2020.

Refer to Note 3 for discussion of WPL’s April 2018 acquisition of 55 MW of the Forward Wind Energy Center.

Coal-Fired Generation -
Plant Retirements - Refer to Note 2 for discussion of the 2018 retirements of IPL’s M.L. Kapp Unit 2 and WPL’s Edgewater Unit 4.

RATE MATTERS

The rate matters summary included in the 2017 Form 10-K has not changed materially, except as described below.

Retail Base Rate Filings -
WPL’s Retail Electric and Gas Rate Review (2019/2020 Test Period) - In September 2018, WPL received an order from the PSCW approving WPL’s proposed settlement for its retail electric and gas rate review covering the 2019/2020 Test Period, which was based on a stipulated agreement between WPL and intervener groups. Under the settlement, WPL retail electric and gas base rates will not change from current levels through the end of 2020. Retail electric revenue requirements resulting from increasing investments in rate base (including West Riverside) are being offset by lower fuel-related costs and Federal Tax Reform refunds. Retail gas revenue requirements resulting from increasing investments in rate base are being offset by Federal Tax Reform refunds. The PSCW will issue a final order upon completion of its review of WPL’s anticipated fuel-related costs for 2019, which is currently expected in December 2018. Any changes granted from this decision will be effective January 1, 2019. The fuel-related cost component of WPL’s retail electric rates for 2020 will be addressed in a separate filing, which is currently expected to occur in the second or third quarter of 2019.

WPL’s settlement maintains the currently authorized return on common equity (ROE) of 10.0% and extends, with certain modifications, an earnings sharing mechanism through 2020. Under the earnings sharing mechanism, WPL will defer a portion of its earnings if its annual regulatory ROE exceeds 10.25% during the 2019/2020 Test Period. WPL must defer 50% of its excess earnings between 10.25% and 10.75%, and 100% of any excess earnings above 10.75%. The settlement was calculated based on the following key assumptions (Common Equity (CE); Long-term Debt (LD); Short-term Debt (SD); Weighted-average Cost of Capital (WACC); Net Investment Rate Base (NIRB)):
Utility Test Regulatory Capital Structure After-tax Return on Average Rate Base
Type Period CE LD SD WACCNIRB (a) (in millions) (b)
Electric 2019 52.6% 43.5% 3.9% 7.47% 6.95% 
$3,507
Electric 2020 52.5% 43.8% 3.7% 7.44% 7.08% 3,955
Gas 2019 52.6% 43.5% 3.9% 7.47% 6.84% 363
Gas 2020 52.5% 43.8% 3.7% 7.44% 6.97% 387

(a)Return on NIRB includes an adjustment to the after-tax WACC to account for working capital, including impacts from Federal Tax Reform reclassifications of excess deferred taxes.
(b)Average rate base amounts reflect WPL’s allocated retail share of rate base and do not include construction work in progress or a cash working capital allowance, and were calculated using a forecasted 13-month average for the test periods. The PSCW provides a return on selected construction work in progress and a cash working capital allowance by adjusting the percentage return on rate base.

IPL’s Retail Gas Rate Review (2017 Test Year) - Refer to Note 2 for discussion of the request IPL filed with the IUB in May 2018 to increase annual gas base rates for its Iowa retail gas customers and the subsequent interim retail gas rate increase, which was implemented effective May 14, 2018.

IPL’s Retail Electric Rate Review (2016 Test Year) - Refer to Note 2 for discussion of IPL’s final annual retail electric rate increase for the 2016 Test Year, which was effective May 1, 2018.

Federal Tax Reform - In January 2018, the IUB issued an order requiring IPL and other investor-owned utilities in Iowa to track all calculated differences since January 1, 2018 resulting from Federal Tax Reform. In April 2018, the IUB issued an order on IPL’s electric and gas Federal Tax Reform proposals. The IUB order approved the return of approximately $35 million of estimated annual tax benefits for 2018 to IPL’s retail electric customers utilizing the tax benefit rider effective May

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1, 2018. These benefits are subject to true-up. For the three and nine months ended September 30, 2018, $9 million and $16 million of tax benefits, respectively, were returned to IPL’s retail electric customers. The IUB order also approved the return of approximately $3 million of estimated annual tax benefits for 2018 to IPL’s retail gas customers utilizing interim rates implemented May 14, 2018 for IPL’s 2017 Test Year gas rate review. These benefits are subject to further review by the IUB. Lastly, the IUB order determined the excess deferred taxes resulting from the remeasurement of accumulated deferred income taxes caused by Federal Tax Reform (approximately $350 million revenue requirement) will be addressed in IPL’s current and future retail electric and gas rate reviews.

In January 2018, the PSCW issued an order directing WPL and other investor-owned utilities in Wisconsin to defer the revenue requirement impacts since January 1, 2018 resulting from Federal Tax Reform. In May 2018, the PSCW issued an order directing WPL to return annual tax benefits for 2018 to WPL’s retail electric and gas customers. WPL is refunding a total of $36 million and $4 million in 2018 to its retail electric and gas customers, respectively. The estimated tax benefits related to the first half of 2018 were provided as a one-time credit of $18 million and $2 million on WPL’s retail electric and gas customers’ June 2018 bills, respectively. Thereafter, WPL currently expects to provide a monthly refund equal to one-twelfth of the estimated annual tax benefits for 2018 to its retail electric and gas customers through the end of 2018. For the three and nine months ended September 30, 2018, $11 million and $31 million of tax benefits, respectively, were returned to WPL’s retail electric and gas customers. Excess deferred taxes from the remeasurement of accumulated deferred income taxes caused by Federal Tax Reform result in an approximate $460 million revenue requirement impact for WPL. Approximately $85 million of this amount would be used to maintain base rates from current levels through 2020, and the remainder will be addressed in WPL’s future retail electric and gas rate reviews.

In March 2018, FERC issued an order granting a waiver request filed in February 2018 by a group of MISO transmission owners, including ITC Midwest LLC and ATC, allowing transmission rates to be updated to reflect the impacts resulting from Federal Tax Reform. As a result, beginning in March 2018, amounts billed by ITC Midwest LLC and ATC decreased due to the impacts from Federal Tax Reform. IPL and WPL currently expect lower electric transmission service expense of approximately $35 million and $10 million, respectively, in 2018 due to Federal Tax Reform. IPL began providing the benefits of the lower transmission service expenses to its electric customers utilizing the transmission cost recovery mechanism effective May 1, 2018. WPL will defer any incremental benefits of the lower transmission service expenses from Federal Tax Reform until a future electric rate review. Based on IPL’s and WPL’s electric transmission cost recovery mechanisms, they currently do not expect that any changes to electric transmission service costs billed by ITC Midwest LLC and ATC, respectively, will have a material impact on their financial condition and results of operations.

Iowa Tax Reform - Refer to Note 2 for discussion of future changes to the Iowa state income tax rate due to Iowa tax reform enacted in May 2018 and the resulting impact on Alliant Energy’s and IPL’s financial statements.

Iowa Energy Legislation - In May 2018, Iowa enacted new energy-related legislation. The most significant provisions of the legislation for Alliant Energy and IPL include the option for energy providers to use a forward-looking test year instead of the current historical test year approach for electric and gas rate reviews, and adjustment of electric transmission service costs through a permanent transmission rider.

IPL’s Duane Arnold Energy Center Purchased Power Agreement - In 2012, IPL entered into a nuclear generation PPA for the purchase of approximately 430 MW of capacity and the resulting energy from DAEC for a term from February 2014 through December 2025. In July 2018, IPL entered into a proposed amendment to shorten the term of the DAEC PPA by five years in exchange for a $110 million buyout payment by IPL in September 2020, which would change Alliant Energy’s and IPL’s future commitments related to the DAEC PPA. To replace some of the energy and capacity from DAEC, IPL entered into four new PPAs with expected 20-year terms beginning in 2020 and 2021 for the purchase of approximately 340 MW of energy in aggregate from existing Iowa wind farms that are expected to be repowered. The amendment to shorten the term of the DAEC PPA and the four new wind PPAs are expected to provide significant energy cost savings to IPL customers.

In July 2018, IPL filed an application with the IUB for approval to recover the buyout payment from IPL’s retail customers over a five-year period at IPL’s pre-tax weighted-average cost of capital in effect at the time recovery commences. In October 2018, IPL reached a settlement agreement with the Iowa Office of Consumer Advocate, the Iowa Business Energy Coalition, the Large Energy Group and the Resale Power Group of Iowa in support of IPL’s application. Three of the four wind PPAs and the amendment to the DAEC PPA are contingent upon IUB approval of IPL’s application regarding the recovery of the buyout payment. IPL currently anticipates a decision from the IUB on its application in 2018.


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Table of Contents

LIQUIDITY AND CAPITAL RESOURCES


The liquidity and capital resources summary included in the 2017 2018 Form 10-K has not changed materially, except as described below.


Liquidity Position - At SeptemberJune 30, 2018,2019, Alliant Energy had $240$170 million of cash and cash equivalents, $863$610 million ($30160 million at the parent company, $250 million at IPL and $312$300 million at WPL) of available capacity under the single revolving credit facility and $109$83 million of available capacity at IPL under its sales of accounts receivable program.


Capital Structure - Capital structures at SeptemberJune 30, 20182019 were as follows (Long-term Debt (including current maturities) (LD); Short-term Debt (SD); Common Equity (CE); IPL’s Preferred Stock (PS)):
chart-2d6dc878b8765f59b5ba01.jpgchart-98f08391deba526abaca01.jpgchart-b5e6267740d5504e82ea01.jpgchart-bc371a1f56495cb88aba02.jpgchart-4223ec2ea9ae5335bcaa02.jpgchart-0566dc363d59539d895a02.jpg
Federal Tax Reform - Refer to “Rate Matters” for discussion of actual and expected refunds in 2018 to IPL’s and WPL’s retail electric and gas customers related to tax benefits resulting from Federal Tax Reform.

Cash Flows - Selected information from the cash flows statements was as follows (in millions):
Alliant Energy IPL WPLAlliant Energy IPL WPL
2018 2017 2018 2017 2018 20172019 2018 2019 2018 2019 2018
Cash, cash equivalents and restricted cash, January 1
$33.9
 
$13.1
 
$7.2
 
$4.2
 
$24.2
 
$6.9

$25.5
 
$33.9
 
$12.4
 
$7.2
 
$9.2
 
$24.2
Cash flows from (used for):                      
Operating activities442.2
 451.3
 38.9
 38.4
 345.5
 361.2
276.9
 274.4
 89.0
 12.8
 208.2
 225.9
Investing activities(815.7) (639.1) (328.9) (59.6) (468.7) (472.6)(607.0) (517.9) (354.5) (179.1) (218.0) (325.5)
Financing activities587.4
 189.9
 519.1
 24.4
 106.7
 108.0
478.8
 221.6
 259.5
 164.4
 165.1
 80.0
Net increase (decrease)213.9
 2.1
 229.1
 3.2
 (16.5) (3.4)148.7
 (21.9) (6.0) (1.9) 155.3
 (19.6)
Cash, cash equivalents and restricted cash, September 30
$247.8
 
$15.2
 
$236.3
 
$7.4
 
$7.7
 
$3.5
Cash, cash equivalents and restricted cash, June 30
$174.2
 
$12.0
 
$6.4
 
$5.3
 
$164.5
 
$4.6



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Operating Activities - The following items contributed to increased (decreased) operating activity cash flows for the ninesix months ended SeptemberJune 30, 20182019 compared to the same period in 20172018 (in millions):
 Alliant Energy IPL WPL
Amounts refunded to customers in 2018 related to Federal Tax Reform (Refer to Note 2 for details)

($47) 
($16) 
($31)
Changes in the sales of accounts receivable at IPL(23) (23) —
Changes in cash collateral balances(17) —
 —
Increased collections from IPL’s and WPL’s retail customers caused by temperature impacts on electric and gas sales53
 30
 23
Changes in electric and gas tax benefit rider credits on customer bills at IPL44
 44
 —
Higher collections at IPL due to interim retail electric base rate increase effective April 13, 2017, final retail electric base rate increase effective May 1, 2018, and interim retail gas base rate increase effective May 14, 201839
 39
 —
Changes in income taxes paid/refunded6
 (16) 9
Other (primarily due to other changes in working capital)(64) (57) (17)
 
($9) 
$1
 
($16)
 Alliant Energy IPL WPL
Higher collections from IPL’s retail electric and gas base rate increases
$44
 
$44
 
$—
Changes in income taxes paid/refunded8
 13
 1
Decreased collections from IPL’s and WPL’s retail customers caused by temperature impacts on electric and gas sales(14) (8) (6)
Changes in interest payments(13) 2
 (2)
Contributions to qualified defined benefit pension plans in 2019(12) (6) (6)
Changes in levels of production fuel(10) 6
 (16)
Timing of intercompany payments and receipts—
 26
 (1)
Other—
 (1) 12
 
$3
 
$76
 
($18)



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Investing Activities - The following items contributed to increased (decreased) investing activity cash flows for the ninesix months ended SeptemberJune 30, 20182019 compared to the same period in 20172018 (in millions):
Alliant Energy IPL WPLAlliant Energy IPL WPL
(Higher) lower utility construction expenditures (a)
($188) 
($165) 
$9
Changes in the amount of cash receipts on sold receivables(95) (95) —

($107) 
($107) 
$—
Non-utility wind investment in Oklahoma in 2017 (Refer to Note 5 for details)
98
 —
 —
Lower (higher) utility construction and acquisition expenditures (a)47
 (58) 106
Other8
 (9) (5)(29) (10) 2

($177) 
($269) 
$4

($89) 
($175) 
$108


(a)Largely due to higherlower WPL expenditures related to the acquisition of a partial interest in the Forward Wind Energy Center in 2018 and lower expenditures for IPL’s and WPL’sthe West Riverside Energy Center, partially offset by higher IPL expenditures related to its expansion of wind generation and IPL’s advanced metering infrastructure, partially offset by lower expenditures for IPL’s and WPL’s electric and gas distribution systems, IPL’s Marshalltown Generating Station and WPL’s West Riverside Energy Center.generation.


Construction and Acquisition Expenditures - Construction and acquisition expenditures for 2018 through 2022 are currently anticipated as follows (in millions). Cost estimates represent Alliant Energy’s, IPL’s and WPL’s portion of total construction expenditures and exclude AFUDC and capitalized interest, if applicable. Such estimates reflect impacts to Alliant Energy’s and WPL’s capital expenditures resulting from purchase options by certain electric cooperatives for a partial ownership interest in West Riverside. Such amounts do not include IPL’s potential $110 million buyout payment in September 2020 related to the DAEC PPA, nor any potential proceeds if Wisconsin Public Service Corporation and/or Madison Gas and Electric Company exercise options for a partial ownership interest in West Riverside. Refer to “Strategic Overview” for further discussion of certain key projects impacting construction and acquisition plans related to the utility business.
 Alliant Energy IPL WPL
 20182019202020212022 20182019202020212022 20182019202020212022
Generation:                 
Renewable projects
$710

$645

$200

$15

$125
 
$630

$545

$100

$—

$5
 
$80

$100

$100

$15

$120
West Riverside155
130
15
—
—
 —
—
—
—
—
 155
130
15
—
—
Other160
85
135
155
200
 65
55
75
90
135
 95
30
60
65
65
Distribution:                 
Electric systems450
475
525
570
600
 280
285
330
355
375
 170
190
195
215
225
Gas systems135
100
245
125
175
 95
50
65
80
115
 40
50
180
45
60
Other130
175
165
180
210
 20
20
30
20
20
 10
15
10
10
15
 
$1,740

$1,610

$1,285

$1,045

$1,310
 
$1,090

$955

$600

$545

$650
 
$550

$515

$560

$350

$485

Financing Activities - The following items contributed to increased (decreased) financing activity cash flows for the ninesix months ended SeptemberJune 30, 20182019 compared to the same period in 20172018 (in millions):
 Alliant Energy IPL WPL
Proceeds from issuance of long-term debt at AEF
$1,000
 
$—
 
$—
Proceeds from issuance of long-term debt at IPL500
 500
 —
Higher net proceeds from common stock issuances48
 —
 —
Payments to retire long-term debt(601) (100) —
Net changes in the amount of commercial paper and short-term borrowings outstanding(560) (44) (159)
Higher capital contributions from IPL’s and WPL’s parent company, Alliant Energy—
 130
 160
Other11
 9
 (2)
 
$398
 
$495
 
($1)
 Alliant Energy IPL WPL
Lower payments to retire long-term debt
$500
 
$—
 
$—
Net changes in the amount of commercial paper and other short-term borrowings outstanding157
 (175) (107)
Higher (lower) net proceeds from issuance of long-term debt(350) 300
 350
Lower net proceeds from common stock issuances(40) —
 —
Lower capital contributions from IPL’s and WPL’s parent company, Alliant Energy—
 (30) (150)
Other(10) —
 (8)
 
$257
 
$95
 
$85


Common Stock Issuances- Refer to Note 65 for discussion of common stock issuances by Alliant Energy during the nine months ended September 30, 2018.in 2019.


Short-termShort- and Long-term Debt - Refer to Note 76 for discussion of amendments to the June 2018 retirement of AEF’s $95 million term loansingle credit facility agreement expiring in 2018.

Long-term Debt - Refer to Note 7(b) for discussion of variousMarch 2019, and IPL’s and WPL’s issuances and retirements of long-term debt by AEF and IPL in 2018.2019.



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Impact of Credit Ratings on Liquidity and Collateral Obligations -
Ratings Triggers - In May 2018, Moody’s Investors Service changed Alliant Energy’s, IPL’s and WPL’s outlook from stable to negative. These outlook changes are not expected to have a material impact on Alliant Energy’s, IPL’s, and WPL’s liquidity or collateral obligations. Standard & Poor’s Ratings Services and Moody’s Investors Service issued credit ratings of BBB+ and Baa1, respectively, for the senior notes issued by AEF in June 2018.

Off-Balance Sheet Arrangements - A summary of Alliant Energy’s off-balance sheet arrangements is included in the 20172018Form 10-K and has not changed materially from the items reported in the 20172018Form 10-K, except for the items described in Note 43.


Certain Financial Commitments -
Contractual Obligations - A summary of Alliant Energy’s, IPL’s and WPL’s contractual obligations is included in the 20172018Form 10-K and has not changed materially from the items reported in the 20172018Form 10-K, except for the items described in Notes 76, 13(a)7 and 13(b)14.


OTHER MATTERS

New Accounting Standards - Refer to Note 1(d) for discussion of new accounting standards impacting Alliant Energy, IPL and WPL.

Critical Accounting Policies and Estimates - The summary of critical accounting policies and estimates included in the 2017 Form 10-K has not changed materially, except as described below.

Long-Lived Assets -
Regulated Operations -
Generating Units Subject to Early Retirement - In June 2018, IPL retired M.L. Kapp Unit 2, which had a net book value of $29 million as of September 30, 2018. IPL’s current rates include a full recovery of and a full return on this EGU from both its retail and wholesale customers, and as a result, Alliant Energy and IPL concluded that no impairment was required as of September 30, 2018.

In September 2018, WPL retired Edgewater Unit 4, which had a net book value of $24 million as of September 30, 2018. WPL is currently allowed a full recovery of and a full return on this EGU from both its retail and wholesale customers, and as a result, Alliant Energy and WPL concluded that no impairment was required as of September 30, 2018.

Other Future Considerations - The summary of other future considerations included in the 2017 Form 10-K has not changed materially, except as discussed earlier in MDA, the Notes in Item 1 and described below.

Future Developments - The following includes key items expected to impact Alliant Energy, IPL and WPL in the future:
Planned Utility Rate Review - IPL currently expects to make a retail rate filing in the first quarter of 2019 based on one or more future forecasted test periods for electric and gas rates. The key drivers for the anticipated filing include recovery of capital projects, including new wind generation, and ongoing operational costs. IPL expects to concurrently file for interim electric rates based on historical data for 2018 and certain known and measurable changes occurring in the first quarter of 2019. Those interim electric rates are expected to be effective in April 2019.

2019 Forecast - In 2019, the following financing activities, and impacts to results of operations, are currently anticipated to occur:
Financing Plans - Alliant Energy currently expects to issue up to $400 million of common stock in 2019 through one or more offerings and its Shareowner Direct Plan. IPL and WPL currently expect to issue up to $600 million and $400 million of long-term debt securities in 2019, respectively. WPL has $250 million of long-term debt maturing in July 2019.
Common Stock Dividends - Alliant Energy announced a 6% increase in its targeted 2019 annual common stock dividend to $1.42 per share, which is equivalent to a quarterly rate of $0.355 per share, beginning with the February 2019 dividend payment. The timing and amount of future dividends is subject to an approved dividend declaration from Alliant Energy’s Board of Directors, and is dependent upon earnings expectations, capital requirements, and general financial business conditions, among other factors.


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•
Utility Electric and Gas Margins - Alliant Energy, IPL and WPL currently expect an increase in electric and gas margins in 2019 compared to 2018 from earnings on increasing rate base for WPL’s retail electric and gas rate review (2019/2020 Test Period) and interim rates for IPL’s planned retail rate review. Refer to “Rate Matters” for further discussion.
Depreciation and Amortization Expenses - Alliant Energy, IPL and WPL currently expect an increase in depreciation and amortization expenses in 2019 compared to 2018 due to property additions, including IPL’s expansion of wind generation and WPL’s West Riverside natural gas-fired EGU.

Interest Expense - Alliant Energy currently expects interest expense to increase in 2019 compared to 2018 primarily due to financings completed in 2018 and planned in 2019 as discussed above.
OTHER MATTERS


Critical Accounting Policies and Estimates - The summary of critical accounting policies and estimates included in the 2018 Form 10-K has not changed materially, except as described below.

Long-Lived Assets -
Regulated Operations -
Assets Subject to Early Retirement - IPL currently expects to complete the phased installation of advanced metering infrastructure in the second half of 2019. Upon completion, IPL will retire certain analog electric meters with an approximate net book value of $46 million. IPL is currently allowed recovery of and a return on these assets from its retail customers, and as a result, Alliant Energy and IPL concluded no impairment was required as of June 30, 2019. IPL has requested the continued recovery of these assets in the current retail electric rate review pending with the IUB.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK


Quantitative and Qualitative Disclosures About Market Risk are reported in the 2017 2018 Form 10-K and have not changed materially.


ITEM 4. CONTROLS AND PROCEDURES


Alliant Energy’s, IPL’s and WPL’s management evaluated, with the participation of each of Alliant Energy��s,Energy’s, IPL’s and WPL’s Chief Executive Officer, Chief Financial Officer and Disclosure Committee, the effectiveness of the design and operation of Alliant Energy’s, IPL’s and WPL’s disclosure controls and procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934) as of SeptemberJune 30, 20182019 pursuant to the requirements of the Securities Exchange Act of 1934, as amended. Based on their evaluation, the Chief Executive Officer and the Chief Financial Officer concluded that Alliant Energy’s, IPL’s and WPL’s disclosure controls and procedures were effective as of the quarter ended SeptemberJune 30, 2018.2019.


There was no change in Alliant Energy’s, IPL’s and WPL’s internal control over financial reporting that occurred during the quarter ended SeptemberJune 30, 20182019 that has materially affected, or is reasonably likely to materially affect, Alliant Energy’s, IPL’s or WPL’s internal control over financial reporting.


PART II. OTHER INFORMATION


ITEM 1A. RISK FACTORS


The risk factors described in Item 1A in the 2017 2018 Form 10-K have not changed materially.


ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS


A summary of Alliant Energy common stock repurchases for the quarter ended SeptemberJune 30, 20182019 was as follows:
  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)
July 1 through July 31 3,554
 
$43.13
 — N/A
August 1 through August 31 3,830
 43.02
 — N/A
September 1 through September 30 177
 43.25
 — N/A
  7,561
 43.08
 —  
  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)
April 1 through April 30 1,989
 
$46.60
 — N/A
May 1 through May 31 3,107
 47.33
 — N/A
June 1 through June 30 225
 49.64
 — N/A
  5,321
 47.16
 —  


(a)All shares were 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.




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ITEM 6. EXHIBITS


The following Exhibits are filed herewith or incorporated herein by reference.
Exhibit Number Description
4.1 
Officer’s Certificate, dated as of September 26, 2018,April 1, 2019, creating IPL’s 4.1%3.60% Senior Debentures due September 26, 2028April 1, 2029 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed September 26, 2018April 1, 2019 (File No. 1-4117))
10.14.2 
Executive Officer Severance Benefit Plan,Officers’ Certificate, dated as amended and restated, effective October 29, 2018of June 24, 2019, creating WPL’s 3.00% Debentures due July 1, 2029 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed June 24, 2019 (File No. 0-337))
31.1 
Certification of the Chairman and Chief Executive Officer for Alliant Energy
31.2 
Certification of the Senior Vice President, Chief Financial Officer and Treasurer for Alliant Energy
31.3 
Certification of the Chairman and Chief Executive Officer for IPL
31.4 
Certification of the Senior Vice President, Chief Financial Officer and Treasurer for IPL
31.5 
Certification of the Chairman and Chief Executive Officer for WPL
31.6 
Certification of the Senior Vice President, Chief Financial Officer and Treasurer for WPL
32.1 
Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for Alliant Energy
32.2 
Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for IPL
32.3 
Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for WPL
101.INS XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL 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


SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, Alliant Energy Corporation, Interstate Power and Light Company and Wisconsin Power and Light Company have each duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the 7th2nd day of November 2018.August 2019.
ALLIANT ENERGY CORPORATION 
Registrant 
  
By: /s/ Benjamin M. BilitzChief Accounting Officer and Controller
Benjamin M. Bilitz(Principal Accounting Officer and Authorized Signatory)
INTERSTATE POWER AND LIGHT COMPANY 
Registrant 
  
By: /s/ Benjamin M. BilitzChief Accounting Officer and Controller
Benjamin M. Bilitz(Principal Accounting Officer and Authorized Signatory)
WISCONSIN POWER AND LIGHT COMPANY 
Registrant 
  
By: /s/ Benjamin M. BilitzChief Accounting Officer and Controller
Benjamin M. Bilitz(Principal Accounting Officer and Authorized Signatory)


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