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LNT · Alliant Energy

50 filings

10-Q

LNT 10-Q Quarterly Reports

Alliant Energy - 50 quarterly reports

Filing record · 2016–202610-K1110-Q338-K136

LNT filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 136 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’17May ’17
  2. Leadership change8-K · Dec ’19Dec ’19
  3. Material agreement8-K · Mar ’22Mar ’22
  4. Leadership change8-K · Jan ’26Jan ’26
  1. 2026-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2026

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reported third-quarter 2026 results in this combined Form 10-Q. Alliant Energy's net income attributable to common shareowners was $398 million, or $1.52 diluted EPS, for the three months ended September 30, 2026, up from $281 million, or $1.09 diluted EPS, a year earlier. For the nine months, net income was $792 million, or $3.04 diluted EPS, compared with $668 million, or $2.59, in 2025. Total revenues for the nine months were $3.44 billion, and the company reported operating cash flow of $909 million for that period. Management attributes much of the higher utility earnings to revenue requirements from capital investments, higher allowance for funds used during construction, and higher retail electric sales, partly offset by higher operation and maintenance, financing and depreciation expenses. Capital investment and financing remain central. Alliant Energy's total debt was $12.56 billion at September 30, 2026, and its debt-to-total-capitalization ratio was 62% on an actual basis. The company's 2026-2030 construction and acquisition plan totals $2.86 billion in 2026 rising to $4.74 billion in 2028, focused on renewables, energy storage, thermal generation and LNG. Alliant Energy has an at-the-market program under which it may sell up to $1 billion of common stock through 2029, and it announced a targeted 2027 annual dividend of $2.25 per share. In October 2026, IPL and WPL entered into DOE loan guarantee agreements covering up to $3.5 billion and $1.6 billion of borrowings, respectively, and no amounts have been borrowed. Regulatory and data center developments are also significant. Large load growth customers, including data centers, drive expected higher retail electric sales in 2027, and WPL has filed a large load tariff with the Public Service Commission of Wisconsin. Several generation projects are pending regulatory approval, including a proposed 1,200 MW natural gas plant at IPL with a decision expected in the second quarter of 2027. The filing also notes EPA actions in September 2026 repealing Section 111(d) emission guidelines for existing fossil-fueled generation, and in 2026 the company recorded $61 million of tariff cost recoveries tied to IEEPA tariff refunds.

    Oct 30, 2026
  2. 2026-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2026

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), filed this combined Form 10-Q for the quarter ended June 30, 2026. For the three months ended June 30, 2026, Alliant Energy reported total revenues of $971 million (versus $961 million in 2025) and net income attributable to common shareowners of $170 million (versus $174 million), with diluted EPS of $0.65 compared with $0.68. For the six months, net income was $394 million versus $387 million, and diluted EPS was $1.52 versus $1.50. Higher revenue requirements from capital investments and higher equity income from corporate venture investments were offset by higher operation and maintenance, interest and depreciation expenses. Operating income for the quarter declined to $185 million from $223 million. Capital structure and financing activity were significant during the period. Alliant Energy repaid $575 million of 3.875% convertible notes at maturity in cash and issued 834,811 shares for the conversion excess, and it entered into a $400 million term loan due March 2027. It also established a 2026 at-the-market program of up to $1 billion, under which forward sale agreements covering 6,550,857 shares were entered into during the quarter, with no proceeds yet received. Total debt was $12.12 billion at June 30, 2026, with a debt-to-total-capitalization ratio of 62% at the parent level. Credit ratings were unchanged in substance, though S&P changed certain IPL ratings in March 2026. The filing also highlights large-load and generation growth. IPL signed an electric service agreement for a data center with approximately 370 MW of contracted peak demand, and the PSCW approved an individual customer rate for a WPL data center customer subject to a requirement to file a large load tariff. Several generation projects are pending regulatory decisions, including a roughly 720 MW gas-fired unit and a roughly 1,200 MW Riverhawk Energy Center. Note 12(e) discloses that WPL's collective bargaining agreement with IBEW Local 965 expired in May 2026, with a tentative agreement reached but not yet finalized. Legal proceedings are reported as none.

    Jul 31, 2026
  3. 2026-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2026

    Alliant Energy Corporation, together with Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reported first-quarter 2026 net income attributable to Alliant Energy common shareowners of $224 million, or $0.87 per diluted share, compared with $213 million, or $0.83 per share, in the first quarter of 2025. Operating income was $249 million versus $257 million, with interest expense rising to $142 million from $119 million. Management attributed the decline in Utilities and Corporate Services net income ($215 million, $0.83 per share, versus $225 million) mainly to higher other operation and maintenance, financing and depreciation expenses, partially offset by higher revenue requirements from capital investments and higher AFUDC, while Non-utility and Parent results improved on a state income tax apportionment benefit. Cash and capital activity was significant during the quarter. Alliant Energy repaid $575 million of 3.875% convertible notes at maturity in cash and issued 834,811 shares for the conversion excess, retired $200 million of AEF senior notes and a $300 million term loan, and entered into a $400 million variable rate term loan maturing March 2027. Equity was raised through at-the-market programs: the $1.3 billion 2025 program was fully utilized, and a new program allowing up to $1 billion of common stock sales through 2029 was established. Forward sale agreements covering 19,598,207 shares under the 2025 program, with a weighted-average forward price of $65.99 per share, remain outstanding and are expected to settle in 2026 and 2027. Alliant Energy's debt-to-total-capitalization ratio was 61% on an actual basis and 60% on an adjusted basis. Regulatory and growth developments include IUC advance rate-making principles for up to 1,000 MW of new Iowa wind generation with a fixed cost cap of $3,020 per kilowatt, a 720 MW natural gas-fired EGU application at IPL with a decision expected in the first quarter of 2027, and an April 2026 electric service agreement with IPL for a data center with contracted peak demand of approximately 370 MW. The filing also notes that tariff-related cost recoveries have not been recognized because recovery is not considered probable, and that Alliant Energy's Standard & Poor's ratings were updated for IPL and that Alliant Energy's corporate rating is BBB+.

    May 1, 2026
  4. 2025-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2025

    Alliant Energy Corporation reported third-quarter 2025 net income attributable to common shareowners of $281 million, or $1.09 per diluted share, compared with $295 million, or $1.15 per diluted share, in the third quarter of 2024. For the nine months ended September 30, 2025, net income rose to $668 million ($2.59 per diluted share) from $540 million ($2.10 per diluted share), and total revenues increased to $3.30 billion from $3.01 billion. The filing attributes the quarterly decline in Utilities and Corporate Services net income mainly to higher other operation and maintenance expenses, the timing of income tax expense, and higher depreciation and financing costs, partly offset by higher revenue requirements from capital investments. The company is building out its generation and grid. Planned construction and acquisition expenditures for 2025 through 2029 total $2.47 billion, $3.05 billion, $3.67 billion, $3.80 billion and $2.91 billion by year, focused on renewables, energy storage, gas generation and distribution. Long-term debt, net, rose to $10.66 billion from $8.68 billion at December 31, 2024, reflecting several 2025 debt issuances. Alliant also sold common stock under an at-the-market program that allows up to $1.3 billion through 2028. Under forward sale agreements, $686 million of gross sales proceeds were not yet received as of September 30, 2025. Growth drivers include executed electric service agreements with customers planning data centers, which the filing says carry aggregate peak demand of approximately 3 gigawatts across IPL and WPL. Wisconsin Power and Light's solar construction costs exceeded PSCW-approved estimates by approximately $205 million, but a November 2025 oral PSCW decision on a 2026/2027 rate settlement includes full recovery of those costs, with a written order expected by the end of 2025. The company also announced a 5% increase in its targeted 2026 annual dividend to $2.14 per share.

    Nov 7, 2025
  5. 2025-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2025

    Alliant Energy Corporation (LNT) filed this Form 10-Q for the quarter ended June 30, 2025, a combined report covering Alliant Energy, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL). For the three months ended June 30, 2025, Alliant Energy reported revenues of $961 million (vs. $894 million) and net income attributable to common shareowners of $174 million (vs. $87 million), or $0.68 diluted EPS (vs. $0.34). For the six months, net income was $387 million ($1.50 diluted EPS) versus $245 million ($0.95) in 2024. The 2024 comparison periods included a $60 million pre-tax non-cash Lansing Generating Station asset valuation charge at IPL and a $20 million ARO charge tied to IPL's steam business. Management attributes the quarterly improvement mainly to higher revenue requirements from IPL and WPL capital investments and to the absence of those 2024 charges, partly offset by higher depreciation and financing expenses. Capital spending and financing remain large. Alliant Energy's construction and acquisition expenditures for 2025 through 2028 are currently anticipated at $2,510 million, $2,755 million, $3,205 million and $3,040 million per year, with a focus on generation to meet growing demand, including data center load under executed electric service agreements totaling about 2.1 gigawatts. Liquidity at June 30, 2025 included $329 million of cash and $1,008 million of available revolver capacity. Long-term debt, including current maturities, was $11,015 million. Alliant Energy entered an at-the-market program of up to $1.3 billion of common stock through 2028, with forward sale agreements covering 2,913,023 shares at a weighted-average forward price of $60.84 per share, and it issued $575 million of 3.25% convertible senior notes due 2028 in May 2025. Regulatory and policy items are significant. WPL filed a 2026/2027 retail electric and gas rate review requesting increases of $120 million and $9 million for 2026, with a PSCW decision expected by the end of 2025. The filing also notes that the One Big Beautiful Bill Act, enacted in July 2025, accelerates the phase-out of clean energy tax credits for certain projects, which could reduce expected credits if projects do not meet construction-start or in-service timelines.

    Aug 8, 2025
  6. 2025-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2025

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reported first-quarter 2025 consolidated net income attributable to Alliant Energy common shareowners of $213 million, or $0.83 per diluted share, compared with $158 million, or $0.62 per share, in the first quarter of 2024. Total revenues rose to $1.128 billion from $1.031 billion, driven by higher electric utility revenues ($853 million vs. $791 million) and gas utility revenues ($240 million vs. $205 million). The filing attributes the increase in Utilities and Corporate Services net income primarily to higher revenue requirements from IPL and WPL capital investments, estimated temperature impacts on sales, and the timing of income tax expense, partly offset by higher depreciation and financing expenses. Alliant Energy's income tax benefit was $47 million in the quarter, versus $10 million a year earlier, and its effective tax rate was lower due to additional tax credits from renewable generation and energy storage projects. The balance sheet shows total assets of $22.851 billion at March 31, 2025, with property, plant and equipment, net of $19.022 billion. Total long-term debt including current maturities was $9.951 billion, and commercial paper outstanding was $678 million. Cash flow from operating activities was $249 million, versus $307 million a year earlier, while utility construction and acquisition expenditures were $554 million. Alliant Energy's convertible senior notes due 2026 ($572 million net carrying amount) were reclassified to current maturities of long-term debt. The company's 2025 through 2028 construction and acquisition plan totals $2.51 billion in 2025, rising to $3.04 billion in 2028, with the filing noting that the plan is subject to change as management evaluates tariffs and potential large load growth. Regulatory and growth developments include WPL's March 2025 retail electric and gas rate review requesting annual increases of $120 million (electric) and $9 million (gas) in 2026, a 9.9% requested return on common equity, and an electric service agreement with a new data center customer in Beaver Dam, Wisconsin. IPL and WPL's executed electric service agreements carry aggregate maximum demands of approximately 2.1 gigawatts. Management also expects to issue up to $1.3 billion of common stock through 2025 through 2028 and up to $1.3 billion of long-term debt at AEF and/or the parent for the remainder of 2025.

    May 9, 2025
  7. 2024-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2024

    Alliant Energy Corporation's Form 10-Q for the quarter ended September 30, 2024 reports consolidated net income attributable to common shareowners of $295 million, or $1.15 diluted EPS, for the three months, up from $259 million, or $1.02, a year earlier. For the nine months, net income was $540 million, or $2.10 diluted EPS, compared with $582 million, or $2.31, in 2023. The nine-month decline reflects a $60 million pre-tax non-cash asset valuation charge for IPL's Lansing Generating Station and a $20 million pre-tax ARO charge for IPL's steam business, both recorded in the second quarter of 2024. Results also reflect higher interest expense and depreciation, partly offset by higher revenue requirements from WPL's capital investments. Total revenues were $3.01 billion for the nine months versus $3.07 billion a year earlier. Key developments include IUC approval in September 2024 of a partial settlement for IPL's retail electric and gas rate review, with annual base rate increases of $185 million for electric and $10 million for gas effective October 1, 2024, and a retail electric base rate moratorium through September 2029. The revised CCR Rule led to additional AROs of $355 million for Alliant Energy in the second quarter of 2024. Total assets were $22.83 billion at September 30, 2024, and cash and cash equivalents rose to $827 million from $62 million at year-end 2023, while long-term debt increased to $9.25 billion from $8.23 billion. The filing also discloses a planned fourth-quarter 2024 restructuring with pre-tax charges of $25 million to $30 million, a 6% increase in the targeted 2025 annual common stock dividend to $2.03 per share, and expected 2025 financings including up to $600 million of IPL long-term debt. WPL's approximately 1,100 MW of new solar generation is expected to exceed prior cost estimates by about $195 million, though the company concluded no probable disallowance existed as of September 30, 2024.

    Nov 1, 2024
  8. 2024-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2024

    Alliant Energy Corporation's Form 10-Q for the quarter ended June 30, 2024 reports consolidated net income attributable to common shareowners of $87 million ($0.34 diluted EPS) for the three months, down from $160 million ($0.64) a year earlier, and $245 million ($0.95 diluted EPS) for the six months versus $323 million ($1.28). The second-quarter decline was driven mainly by a $60 million pre-tax non-cash asset valuation charge for IPL's Lansing Generating Station, following a partial non-unanimous rate settlement that removes a return on the plant's remaining net book value, and a $20 million pre-tax non-cash ARO charge tied to the revised CCR Rule. Operating income fell to $130 million for the quarter from $217 million, and interest expense rose to $108 million from $96 million. The filing also shows a large increase in environmental and asset retirement exposure: the revised CCR Rule led to additional AROs of $355 million for Alliant Energy, $102 million for IPL and $253 million for WPL, with amounts expected to be adjusted as site closure plans are refined. WPL also disclosed that its approximately 1,100 MW of new solar generation is expected to exceed previously approved construction cost estimates by about $195 million, and that it updated plans to convert the coal-fired Edgewater Unit 5 to natural gas in 2028 rather than retire it by June 1, 2025. On the balance sheet, total assets were $21.84 billion and long-term debt was $8.90 billion at June 30, 2024. Operating cash flow for the six months rose to $562 million from $311 million, while construction and acquisition expenditures for utility business were $870 million. IPL's pending retail electric and gas rate review settlement, subject to IUC approval, would provide an annual electric base rate increase of $185 million with final rates expected October 1, 2024, and a retail electric base rate moratorium through September 2029.

    Aug 2, 2024
  9. 2024-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2024

    Alliant Energy Corporation's Form 10-Q for the quarter ended March 31, 2024 reports consolidated net income attributable to common shareowners of $158 million, or $0.62 per diluted share, compared with $163 million, or $0.65 per share, in the first quarter of 2023. Total revenues were $1,031 million versus $1,077 million, with lower gas utility revenues and cost of gas sold driven by temperatures and lower natural gas prices. Management attributes the decline in Utilities and Corporate Services net income of $4 million mainly to warmer-than-normal temperatures reducing retail electric and gas sales, plus higher financing and depreciation expenses, partially offset by higher revenue requirements from WPL's capital investments. Interest expense rose to $107 million from $94 million. On the balance sheet, total assets were $21.25 billion at March 31, 2024, with long-term debt (net, excluding current portion) of $8.52 billion, up from $8.23 billion at year-end 2023. WPL issued $300 million of 5.375% green debentures due 2034 and retired a $300 million AEF term loan, and the company's cash flow from operating activities rose to $307 million from $188 million. Key items for investors include WPL's expectation that its approximately 1,100 MW solar construction costs will exceed PSCW-approved estimates by about $180 million, with WPL filing for judicial review in March 2024, and the EPA's April 2024 final environmental rules, which management says it is still evaluating. The filing also covers the sale of partial interests in West Riverside to WEC Energy Group (100 MW) and Madison Gas and Electric (25 MW), expected in June 2024, and Standard & Poor's change of Alliant Energy's and IPL's outlooks from stable to negative in March 2024, which management does not expect to have a material impact on liquidity.

    May 3, 2024
  10. 2023-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2023

    Alliant Energy Corporation reported third-quarter 2023 net income attributable to common shareowners of $259 million, or $1.02 per share, compared with $227 million, or $0.90 per share, in the third quarter of 2022. Total revenues fell to $1,077 million from $1,135 million, reflecting lower electric utility revenues of $995 million versus $1,039 million. For the nine months ended September 30, 2023, net income was $582 million, essentially flat with $579 million a year earlier, and EPS was $2.31 in both periods. Net cash flows from operating activities rose to $622 million from $485 million, while utility construction and acquisition expenditures increased to $1,201 million from $873 million. The company's near-term growth program is dominated by renewable and storage investment at IPL and WPL. In October 2023, the Iowa Utilities Board approved advance rate-making principles for up to 400 MW of IPL solar generation with a cost target of $1,650 per kilowatt, and IPL accepted these principles in November 2023. Both utilities filed rate reviews in 2023 seeking higher annual electric and gas rates for 2024 and, in IPL's case, 2025. The filing also notes that Alliant Energy expects higher earnings in 2024 from increasing rate base and announced a targeted 2024 annual common stock dividend of $1.92 per share, a 6% increase. Balance sheet activity included $575 million of 3.875% convertible senior notes issued in March 2023, $300 million of IPL 5.70% senior debentures and $300 million of WPL 4.95% debentures issued in 2023, and common shares outstanding rising to 255,179,087 at September 30, 2023. Iowa tax reform reduced tax-related regulatory assets by $73 million. The filing also discloses that IPL retired the coal-fired Lansing Generating Station in May 2023, and that it expects to issue up to $225 million of common stock and up to $700 million of IPL long-term debt by the end of 2024.

    Nov 3, 2023
  11. 2023-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2023

    Alliant Energy Corporation's Form 10-Q for the quarter ended June 30, 2023, filed jointly with Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reports consolidated net income attributable to Alliant Energy common shareowners of $160 million for the three months ended June 30, 2023, up from $159 million a year earlier, with EPS of $0.64 versus $0.63. For the six months, net income was $323 million versus $351 million, and EPS was $1.28 versus $1.40. Operating income for the six months was $439 million, compared with $460 million, and interest expense rose to $190 million from $152 million, reflecting financings completed in 2023 and 2022 and higher interest rates. Management attributed the quarterly improvement in Utilities and Corporate Services net income to higher revenue requirements and AFUDC from WPL's capital investments and lower electric fuel-related costs at WPL, partly offset by lower retail sales due to temperatures and higher interest expense. The balance sheet shows total assets of $20.38 billion at June 30, 2023, and long-term debt, net of $8.19 billion. The company issued $575 million of 3.875% convertible senior notes due 2026 in March 2023, WPL issued $300 million of 4.95% green bonds due 2033, and AEF retired $400 million of 3.75% senior notes. Alliant Energy sold $225 million of common stock under an at-the-market program during the period, with proceeds of $64 million net as of June 30, 2023. A partial ownership interest in West Riverside was sold to Madison Gas and Electric Company and WEC Energy Group, generating $120 million in proceeds for WPL. Regulatory and capital developments include WPL's April 2023 retail electric and gas rate review request for 2024 and 2025 increases of $111 million and $17 million in 2024 and an additional $71 million in 2025 for electric customers, and IPL's Lansing Generating Station retirement in May 2023, with the remaining net book value of $226 million reclassified to a regulatory asset. The filing also notes that the EPA proposed Section 111(b) and 111(d) carbon rules in May 2023, which could affect several of the utilities' generating units, though the outcome cannot be predicted with certainty.

    Aug 4, 2023
  12. 2023-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2023

    Alliant Energy Corporation reported first-quarter 2023 net income attributable to common shareowners of $163 million, or $0.65 per basic and diluted share, down from $192 million, or $0.77 per share, in the first quarter of 2022. Total revenues rose slightly to $1,077 million from $1,068 million, but operating income fell to $222 million from $248 million. The filing attributes the decline mainly to lower retail electric and gas sales from warmer-than-normal temperatures, higher interest expense, and the timing of income tax expense, partly offset by higher revenues from WPL's capital investments. Interest expense rose to $94 million from $74 million, and Alliant Energy's income tax was a $2 million benefit, compared with $8 million of expense a year earlier. The company raised significant capital during the quarter. Alliant Energy issued $575 million of 3.875% convertible senior notes due March 15, 2026, WPL issued $300 million of 4.95% green bonds due 2033 to fund solar generation, and AEF entered into a $300 million interest rate swap on its variable-rate term loan. Long-term debt, net, increased to $8,132 million from $7,668 million at year-end 2022. Cash and cash equivalents rose to $157 million from $20 million. Capital expenditures for utility business were $417 million, compared with $307 million a year earlier, largely reflecting WPL's solar expansion. Regulatory and project developments include WPL's April 2023 retail electric and gas rate review filing, which requested $111 million and $17 million of annual increases for 2024 and an additional $71 million for electric customers in 2025. WPL also notified the PSCW that construction costs for its 414 MW of new solar generation are expected to exceed approved amounts by approximately 10-14% due to higher commodity, labor and site-specific costs. IPL received approval for additional solar and battery storage projects in Iowa, and the IUB approved advance rate-making principles for up to 200 MW of solar generation in April 2023.

    May 5, 2023
  13. 2022-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2022

    Alliant Energy Corporation's Form 10-Q for the quarter ended September 30, 2022 covers the parent company and its two utility subsidiaries, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL). For the three months ended September 30, 2022, Alliant Energy reported net income attributable to common shareowners of $227 million, or $0.90 per share, compared with $256 million, or $1.02 per share, a year earlier. For the nine months, net income attributable to common shareowners was $579 million, or $2.31 per share, versus $571 million, or $2.28 per share. Total revenues for the nine months rose to $3.147 billion from $2.742 billion, with gas utility revenues up to $418 million from $289 million. Cash and cash equivalents stood at $344 million at quarter end, and the company reported $617 million of available credit facility capacity. Capital spending remains heavy and centered on renewables. Construction and acquisition expenditures are projected at $1.54 billion in 2022, rising to $2.41 billion in 2024 and $2.195 billion in 2026, with renewables and battery storage the largest component. WPL terminated its tax equity partnership for solar projects after the Inflation Reduction Act of 2022 was enacted, and now plans full ownership of its roughly 1,100 MW solar program. WPL issued $600 million of 3.95% green debentures due 2032 in August 2022. Management expects higher 2023 earnings driven by rate base growth and a 6% increase in the targeted 2023 annual common dividend to $1.81 per share. The filing also flags several items that could affect results. Iowa tax reform produced a $76 million reduction in IPL and Alliant Energy tax-related regulatory assets. A court decision in August 2022 led to a $5 million reduction in equity income from ATC, and WPL's fuel-related cost deferrals reached $83 million. Pending matters include the U.S. Department of Commerce solar tariff investigation, MISO's new seasonal capacity construct, and rate proceedings at both utilities. Standard & Poor's changed WPL's outlook to negative in June 2022.

    Nov 8, 2022
  14. 2022-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2022

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reported results for the three and six months ended June 30, 2022. Consolidated net income attributable to Alliant Energy common shareowners was $159 million ($0.63 diluted EPS) for the second quarter of 2022, compared with $144 million ($0.57 diluted EPS) in the second quarter of 2021. For the six months, net income attributable to common shareowners was $351 million ($1.40 diluted EPS), versus $315 million ($1.26 diluted EPS) a year earlier. Consolidated operating income rose to $212 million for the quarter and $460 million year to date. Total revenues were $943 million for the quarter and $2.01 billion year to date. The company highlighted several capital and regulatory developments. In June 2022, the PSCW approved WPL's second certificate to build up to 414 MW of new solar generation, and IPL revised its fixed cost cap to $1,934/kilowatt for up to 400 MW of solar and about 75 MW of battery storage. WPL also revised its expected coal-fired plant retirement timing, with Edgewater expected to retire by June 1, 2025 and Columbia Units 1 and 2 by June 1, 2026. A U.S. Department of Commerce investigation into solar equipment sourcing could affect the cost and timing of planned renewable projects. Management said these matters could affect future construction and acquisition expenditures. Financially, cash flow from operating activities was $300 million for the six months, compared with $207 million a year earlier, and construction and acquisition expenditures rose. Alliant Energy issued $350 million of 3.6% senior notes due 2032 through AEF in February 2022, and a noncontrolling interest contributed $29 million to a WPL solar joint venture. Common stock dividends were $0.4275 per share for the quarter. S&P changed WPL's outlook from stable to negative in June 2022, which management did not expect to have a material impact on liquidity.

    Aug 5, 2022
  15. 2022-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2022

    Alliant Energy Corporation's Form 10-Q for the quarter ended March 31, 2022 reports consolidated net income attributable to common shareowners of $192 million, or $0.77 per basic and diluted share, compared with $171 million, or $0.68 per share, in the first quarter of 2021. Total revenues rose to $1,068 million from $901 million, driven by electric utility revenues of $773 million (up from $701 million) and gas utility revenues of $262 million (up from $170 million). Operating income increased to $248 million from $198 million, with utility electric margin up $33 million and utility gas margin up $24 million. Management attributed the higher Utilities and Corporate Services earnings primarily to higher AFUDC, WPL's increasing rate base, and favorable temperatures. Liquidity remained adequate, with $67 million of cash and cash equivalents at March 31, 2022 and $724 million of available capacity under the single revolving credit facility. In February 2022, AEF issued $350 million of 3.6% senior notes due 2032, with proceeds used to reduce commercial paper and for general corporate purposes. Net cash flows from operating activities were $251 million, compared with $145 million a year earlier, while investing outflows of $223 million reflected higher WPL solar generation spending. Common stock dividends were $107 million, and the company declared $0.4275 per share. The filing flags several forward-looking items: a U.S. Department of Commerce investigation into solar material sourcing that could delay or raise the cost of renewable projects, cost pressures in the solar and battery storage markets, and the enactment of Iowa tax reform in March 2022, which could lower Iowa corporate income tax rates from 2023 and lead to a charge at non-utility businesses after the 2023 rate is known. Alliant Energy also reports a $60 million maximum exposure under guarantees tied to Whiting Petroleum partnership abandonment obligations.

    Apr 29, 2022
  16. 2021-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2021

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), filed this Form 10-Q for the quarter ended September 30, 2021. For the three months ended September 30, 2021, Alliant Energy reported total revenues of $1,024 million (versus $920 million), operating income of $289 million (versus $272 million), and net income attributable to common shareowners of $256 million, or $1.02 diluted EPS (versus $0.98). For the nine months, net income attributable to common shareowners was $571 million, or $2.28 per diluted share, compared with $550 million and $2.22 a year earlier. Electric utility revenues were $2,357 million for the nine months, and total assets were $18,329 million at September 30, 2021. The filing highlights a sizable clean-energy buildout. WPL received PSCW approval in June 2021 for 675 MW of new solar generation and filed in September 2021 for up to 414 MW more, with projects expected in service in 2022-2024; the filing notes estimated construction costs for the 675 MW project may exceed approved amounts by approximately 7-10%. IPL filed in November 2021 for advance rate-making principles covering up to 400 MW of solar and 75 MW of battery storage. Capital expenditures for 2021 through 2025 are projected at $1,200 million in 2021 rising to $2,320 million in 2024 on a consolidated basis. WPL also raised $300 million of 1.95% green bonds due 2031 in September 2021, and IPL plans to redeem all of its 5.1% cumulative preferred stock (approximately $200 million) in December 2021. Rate matters are also significant. WPL proposed a settlement seeking annual base rate increases of $70 million for electric and $15 million for gas for 2022/2023, and updated filings now project an additional $45 million in 2022 for retail electric customers, for a total of $115 million. Management expects higher 2022 earnings from rate base growth, a 6% increase in the targeted 2022 annual dividend to $1.71 per share, and a decrease in other operation and maintenance expenses in 2022.

    Nov 5, 2021
  17. 2021-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2021

    Alliant Energy Corporation reported net income attributable to common shareowners of $144 million, or $0.57 per diluted share, for the three months ended June 30, 2021, compared with $134 million, or $0.54 per diluted share, in the same period of 2020. For the six months, net income attributable to common shareowners was $315 million, or $1.26 per diluted share, versus $304 million, or $1.23 per diluted share, a year earlier. Total revenues were $817 million for the quarter and $1.718 billion for the six months, while operating income was $176 million and $374 million, respectively. Management attributed the quarterly increase in Utilities and Corporate Services income mainly to rate base growth at IPL and WPL and warmer temperatures, partly offset by higher depreciation. The filing highlights a major generation transition at WPL. In the second quarter, MISO approved the retirement of Columbia Units 1 and 2, which had a combined net book value of approximately $475 million, and the units were deemed probable of abandonment with no disallowance required because WPL is allowed full recovery and return. The PSCW authorized WPL to acquire and operate 675 MW of new solar generation, bringing planned solar additions to 1,089 MW, and WPL filed a proposed settlement for annual base rate increases of $70 million (electric) and $15 million (gas) for the 2022/2023 test period. Construction costs for the solar projects are expected to be higher than previously anticipated, and WPL told the PSCW in July 2021 that costs could exceed approved amounts by approximately 7-10%. Liquidity was adequate but tight at the parent level: Alliant Energy had $15 million of cash and cash equivalents at June 30, 2021, $465 million of available revolving credit capacity, and $65 million of available capacity at IPL under its receivables sale program. Cash flow from operating activities for the six months was $207 million, down from $319 million in 2020, and long-term debt was $6.468 billion at June 30, 2021. The filing also discloses a guarantee related to Whiting Petroleum partnership abandonment obligations with a currently estimated maximum exposure of $68 million.

    Aug 6, 2021
  18. 2021-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2021

    Alliant Energy Corporation's Form 10-Q for the quarter ended March 31, 2021 shows consolidated revenues of $901 million, down from $916 million in the first quarter of 2020, and net income of $174 million versus $173 million a year earlier. Net income attributable to Alliant Energy common shareowners was $171 million, or $0.68 per diluted share, compared with $170 million and $0.70 a year earlier. Operating income rose to $198 million from $188 million. Management attributed the Utilities and Corporate Services net income decline of $9 million primarily to timing of income taxes, higher depreciation and lower allowance for funds used during construction, partly offset by rate base growth and higher sales due to first-quarter temperatures. The filing highlights a proposed WPL settlement with intervenor groups for annual base rate increases of $70 million for electric and $15 million for gas customers covering 2022 and 2023, with WPL planning a rate review filing in the second quarter of 2021. WPL also requested approval for up to 1,089 MW of new solar generation, including 414 MW and 675 MW tranches, with the PSCW granting an oral decision on the 675 MW portion in April 2021. Cash flow from operations was $145 million, and cash and cash equivalents were $14 million at March 31, 2021, with $664 million of available revolving credit capacity. The February 2021 cold weather event caused IPL to under-recover natural gas costs, with a cumulative under-collection of $20 million at March 31, 2021; the IUB approved recovery spread through December 2021. Alliant Energy's guarantees related to Whiting Petroleum affiliate partnership abandonment obligations were estimated at $68 million, with a $5 million liability recorded.

    May 7, 2021
  19. 2020-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2020

    Alliant Energy Corporation's Form 10-Q for the quarter ended September 30, 2020 reports consolidated net income attributable to common shareowners of $246 million ($0.98 diluted EPS) for the third quarter, up from $226 million ($0.94) in the prior-year period, and $550 million ($2.22 diluted EPS) for the nine months, up from $446 million ($1.87). Total revenues were $2.60 billion for the nine months versus $2.77 billion a year earlier, with electric utility revenue of $2.26 billion, gas utility revenue of $253 million, and operating income of $628 million compared with $617 million. Management states that COVID-19 has not had a significant impact on operations, financial condition, results or cash flows to date, though retail electric residential sales rose while commercial and industrial sales declined, and the total future impact remains unknown. Balance sheet and financing activity were significant during the period. Total assets grew to $17.54 billion from $16.70 billion at year-end 2019, and long-term debt increased to $6.57 billion. Alliant settled $222 million under equity forward agreements in the first quarter, and during 2020 WPL issued $350 million of 3.65% debentures due 2050 and IPL issued $400 million of 2.3% senior debentures due 2030. Cash flow from operations for the nine months was $436 million, compared with $509 million in 2019, and was affected by a $110 million buyout payment for IPL's DAEC power purchase agreement amendment. Operational developments include a derecho windstorm in August 2020 that caused damage to IPL's electric distribution system, with an estimated total cost of approximately $140 million, of which about $130 million was recorded to property, plant and equipment. The company also reported a credit loss liability of $5 million related to guarantees tied to an affiliate of Whiting Petroleum, reduced from $20 million earlier in the year. Alliant Energy also announced a targeted 2021 annual common stock dividend of $1.61 per share, a 6% increase.

    Nov 3, 2020
  20. 2020-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2020

    Alliant Energy Corporation, together with Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), filed this combined Form 10-Q for the quarter ended June 30, 2020. Alliant Energy reported net income attributable to common shareowners of $134.4 million ($0.54 per share) for the three months ended June 30, 2020, up from $94.6 million ($0.40 per share) a year earlier, and $304.4 million ($1.23 per share) for the six months, compared with $219.7 million ($0.93 per share). Total revenues for the six months were $1,678.8 million versus $1,777.4 million, reflecting lower gas and electric sales and lower electric transmission service expense. The company said COVID-19 had not significantly affected overall operations, financial condition, results or cash flows through the period, though it noted higher residential electric sales, lower commercial and industrial sales, and an expectation of a slight reduction in temperature-normalized retail sales for 2020. Liquidity and financing activity was substantial. Alliant Energy settled $222 million of equity forward agreements by issuing 4,275,127 shares, and it reported $208.1 million of cash and cash equivalents at June 30, 2020. WPL issued $350 million of 3.65% debentures due 2050 and IPL issued $400 million of 2.3% senior debentures due 2030, and the filing states there are no other material long-term debt maturities in 2020 and 2021. Total assets were $17,269.7 million, and long-term debt, net, was $6,572.4 million. The company also recognized a $20 million credit loss liability tied to guarantees of partnership obligations of an affiliate of Whiting Petroleum. The filing also highlights regulatory and capital project developments. IPL completed the 200 MW Golden Plains wind farm in March 2020, WPL completed the 730 MW West Riverside Energy Center in May 2020, and WPL requested approval for up to 675 MW of new solar generation with an estimated Alliant Energy capital cost of about $885 million in aggregate. WPL also proposed to maintain its current base rates through the end of 2021, and FERC's May 2020 order reduced the refunds expected from MISO transmission owner return-on-equity complaints.

    Aug 10, 2020
  21. 2020-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2020

    Alliant Energy Corporation (LNT) reported first-quarter 2020 net income attributable to common shareowners of $170.0 million, or $0.70 per diluted share, compared with $125.1 million, or $0.53 per share, in the first quarter of 2019. Operating income rose to $188.3 million from $176.8 million, while total revenues declined to $915.7 million from $987.2 million, mainly reflecting lower gas and fuel-related revenues and warmer-than-normal temperatures in early 2020. The filing states that the company's Utilities and Corporate Services net income increased by $53 million, driven by higher earnings from growing rate base at IPL and WPL, partly offset by lower sales volumes and higher depreciation. Results include an $8 million credit loss charge tied to legacy guarantees of an affiliate of Whiting Petroleum, and an income tax benefit of $18.7 million for the period. The filing states that COVID-19 had no material adverse impact on results for the quarter, although management cannot yet predict its future effects. Retail electric residential sales rose in April 2020 by 5% on a temperature-normalized basis versus April 2019, while commercial and industrial sales fell 13% in aggregate. Management is taking steps to strengthen liquidity: it settled $222 million under equity forward sale agreements, AEF refinanced a $300 million term loan that would have matured in April 2020, and WPL issued $350 million of 3.65% debentures due 2050 in April 2020. Total assets were $16,879.0 million at March 31, 2020, and long-term debt was $5,833.9 million excluding current maturities. The filing also discloses that the company adopted the new credit loss accounting standard on January 1, 2020, which reduced retained earnings by $8.7 million after tax. Management states that it expects to maintain compliance with its financial covenants and continue its planned quarterly dividend payments. The company's cash flow from operations was $160.2 million for the quarter, down from $181.1 million a year earlier, and investing outflows totaled $179.6 million.

    May 8, 2020
  22. 2019-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2019

    Alliant Energy Corporation's Form 10-Q for the quarter ended September 30, 2019 reports consolidated revenues of $990.2 million for the three months and $2,767.6 million for the nine months, against $928.6 million and $2,661.0 million a year earlier. Net income attributable to Alliant Energy common shareowners was $226.0 million for the quarter (diluted EPS $0.94, versus $0.87) and $445.7 million for the nine months (diluted EPS $1.87, versus $1.83). Operating income rose to $290.2 million for the quarter and $616.8 million for the nine months. Management attributes the quarterly increase in Utilities and Corporate Services earnings mainly to rate base growth at IPL and WPL, partly offset by higher depreciation. Capital investment and financing remain central. Nine-month construction and acquisition expenditures for utility business were $1,003.9 million, funded in part by $950.0 million of long-term debt issued across IPL and WPL. IPL issued $300 million of 3.60% debentures due 2029 and $300 million of 3.50% green debentures due 2049, both tied to wind projects, and WPL issued $350 million of 3.00% debentures due 2029. Alliant Energy had $193.7 million of cash at quarter end and $650.4 million of available credit facility capacity. Regulatory developments are significant. In October 2019, IPL reached a partial, non-unanimous settlement for an annual retail electric base rate increase of $127 million and a unanimous settlement for an annual retail gas base rate increase of $12 million, with IUB decisions expected in the fourth quarter of 2019. The company expects higher earnings in 2020 from increasing revenue requirements, offset partly by returning excess deferred taxes to customers. For 2020, it plans to issue up to $250 million of common stock and up to $300 million, $350 million and $300 million of long-term debt at IPL, WPL and AEF, respectively, and announced a targeted 2020 annual dividend of $1.52 per share.

    Nov 7, 2019
  23. 2019-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2019

    Alliant Energy Corporation's Form 10-Q for the quarter ended June 30, 2019 reports consolidated net income attributable to Alliant Energy common shareowners of $94.6 million, or $0.40 per diluted share, for the three months ended June 30, 2019, compared with $100.4 million, or $0.43 per share, a year earlier. For the six months, net income attributable to common shareowners was $219.7 million, or $0.93 per share, versus $221.3 million, or $0.96 per share, in 2018. Consolidated operating income for the quarter was $149.8 million, down slightly from $151.2 million. The filing attributes the quarterly earnings decline primarily to lower retail electric sales from cooler temperatures, higher depreciation expense and timing of income tax expense, partly offset by higher margins from IPL's and WPL's growing rate base. The balance sheet shows total assets of $16.12 billion at June 30, 2019, up from $15.43 billion at December 31, 2018, with property, plant and equipment, net, rising to $12.85 billion. Long-term debt, including current maturities, increased, driven by IPL's $300 million 3.60% senior debentures issued in April 2019 (green bonds for wind projects) and WPL's $350 million 3.00% debentures issued in June 2019. Cash and cash equivalents were $170.2 million at quarter end. Operating cash flows were $276.9 million for the six months, while investing outflows were $607.0 million, largely for utility construction. Regulatory developments are a key focus. IPL requested a $204 million annual increase in Iowa retail electric base rates and a $21 million increase in gas base rates, based on a 2020 forward-looking test period. An interim electric rate increase of $90 million took effect April 1, 2019, subject to refund, with a final IUB decision expected in the fourth quarter of 2019. The filing also notes that WPL's collective bargaining agreement with IBEW Local 965 expired May 31, 2019, and that the parties continue to negotiate under an extension.

    Aug 2, 2019
  24. 2019-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2019

    Alliant Energy Corporation's first-quarter 2019 Form 10-Q reports net income attributable to Alliant Energy common shareowners of $125.1 million, or $0.53 per diluted share, up from $120.9 million, or $0.52 per share, in the first quarter of 2018. Total revenues rose to $987.2 million from $916.3 million, led by electric utility revenues of $743.4 million and gas utility revenues of $215.8 million. Operating income increased to $176.8 million from $165.7 million. Management attributed the Utilities and Corporate Services earnings increase of $18 million mainly to higher margins from growing rate base and colder temperatures, partly offset by higher depreciation, while the Non-utility and Parent segment declined by $14 million on higher interest expense and lower equity income from the Oklahoma wind farm. Regulatory activity was significant during the quarter. In March 2019, IPL requested an increase of $204 million in annual Iowa retail electric base rates on a 2020 forward-looking test period, and an interim increase of $90 million took effect April 1, 2019, subject to refund. IPL also requested a $21 million increase in Iowa retail gas base rates. Final decisions are expected in the fourth quarter of 2019. IPL placed approximately 470 megawatts of new wind generation in service in March 2019. Liquidity remained adequate, with Alliant Energy reporting $10.1 million of cash and cash equivalents at March 31, 2019 and $370 million of available capacity under its revolving credit facility. Commercial paper outstanding at the parent was $514.7 million. Net cash flows from operating activities were $181.1 million, and investing outflows of $364.8 million reflected utility construction expenditures of $374.0 million. In April 2019, IPL issued $300 million of 3.6% green senior debentures due 2029 to fund wind projects.

    May 3, 2019
  25. 2018-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2018

    Alliant Energy Corporation's Form 10-Q for the quarter ended September 30, 2018 reports consolidated net income attributable to common shareowners of $205.5 million for the third quarter of 2018, up from $168.8 million in the prior-year quarter, and $426.8 million for the nine months, up from $363.5 million. Diluted EPS was $0.87 for the quarter and $1.83 for the nine months. Total revenues were $928.6 million for the quarter and $2.66 billion for the nine months. Management attributes the quarterly increase primarily to higher retail electric sales from warmer third-quarter temperatures, margins from growing rate base at IPL and WPL, and higher AFUDC, partly offset by higher depreciation. The balance sheet shows total assets of $15.27 billion at September 30, 2018, up from $14.19 billion at December 31, 2017, driven largely by property, plant and equipment, which grew to $12.01 billion. Long-term debt rose to $5.25 billion from $4.01 billion, reflecting 2018 financings including $1.5 billion of long-term debt issued across AEF and IPL. Cash flow from operations was $442.2 million for the nine months, and capital expenditures for utility businesses were $1.08 billion. The company also completed an at-the-market equity program of up to $175 million, issuing 4,171,013 shares for $173 million in net proceeds. Regulatory developments include the Iowa and federal tax reform effects, which reduced regulatory assets and produced customer refunds, and a September 2018 PSCW order approving WPL's 2019/2020 rate review settlement, under which WPL's base rates will not change through the end of 2020. IPL's 2017 Test Year gas rate review settlement proposes a $14 million annual increase, and IPL plans a retail rate filing in the first quarter of 2019. Forward-looking items include plans for up to 1,000 MW of new IPL wind generation and the West Riverside natural gas project at WPL, expected to be completed by the end of 2019.

    Nov 7, 2018
  26. 2018-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2018

    Alliant Energy Corporation's Form 10-Q for the quarter ended June 30, 2018 reports net income attributable to Alliant Energy common shareowners of $100.4 million ($0.43 per share) for the three months, up from $94.3 million ($0.41 per share) a year earlier, and $221.3 million ($0.96 per share) for the six months versus $194.7 million ($0.85 per share) in 2017. Revenues for the six months rose to $1,732.4 million from $1,619.2 million, with gas utility revenues of $254.2 million compared with $216.9 million, driven in part by colder first-quarter weather and warmer second-quarter temperatures. Management attributed the three-month earnings increase primarily to higher retail electric sales from warmer temperatures and higher margins from growing rate base at IPL and WPL, partially offset by higher depreciation and timing of operation and maintenance expenses. The balance sheet shows total assets of $14,615.0 million at June 30, 2018, with long-term debt of $5,127.5 million and current maturities of $356.1 million. Alliant Energy issued $1.0 billion of senior notes through its subsidiary Alliant Energy Finance, LLC in June 2018 ($400 million of 3.75% notes due 2023 and $300 million of 4.25% notes due 2028 were issued that month, with proceeds used to retire term loans and reduce commercial paper). It also sold $88 million of common stock under an at-the-market program and expects to issue up to $400 million of common stock in 2019. Regulatory developments included the impact of Iowa tax reform enacted in May 2018, Federal Tax Reform refunds to customers, an IPL retail electric rate increase effective May 1, 2018, and an August 2018 PSCW decision approving a WPL rate settlement that keeps retail electric and gas base rates unchanged through 2020. The filing also covers IPL's planned expansion of up to 1,000 MW of wind generation, WPL's West Riverside gas-fired project expected to be completed by the end of 2019, and a July 2018 amendment shortening the Duane Arnold Energy Center purchased power agreement in exchange for a $110 million buyout payment in September 2020, subject to Iowa Utilities Board approval.

    Aug 3, 2018
  27. 2018-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2018

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reported first-quarter 2018 net income attributable to Alliant Energy common shareowners of $120.9 million, or $0.52 per share, compared with $100.4 million, or $0.44 per share, in the first quarter of 2017. Total revenues were $916.3 million versus $853.9 million, and operating income rose to $165.7 million from $147.2 million. Management attributed the increase primarily to higher margins from IPL's interim retail electric base rate increase implemented in April 2017 and higher retail electric and gas sales due to colder first-quarter 2018 temperatures, partially offset by higher depreciation expense. Tax Reform was a major theme in the filing. The Iowa Utilities Board and the Public Service Commission of Wisconsin ordered refunds of estimated 2018 tax benefits to retail customers, approximately $35 million annually for IPL's electric customers, about $3 million for IPL's gas customers, and about $43 million for WPL's electric and gas customers. Alliant Energy's first-quarter income tax rate was 12.0%, and equity income from unconsolidated investments rose to $21.3 million, primarily reflecting Tax Reform effects on the non-utility Oklahoma wind farm. IPL's gas rate review requested a $20 million increase, with an interim $11 million increase effective May 14, 2018. Capital investment continued, with WPL building the approximately 730 MW West Riverside gas-fired plant, expected to be completed by early 2020, and IPL planning up to 1,000 MW of new wind generation. Cash flow from operations for Alliant Energy was $89.3 million in the quarter, compared with $119.0 million a year earlier, and construction expenditures for the utility business were $335.2 million. Alliant Energy had $617.7 million of available credit facility capacity at March 31, 2018, and in April 2018 its subsidiary AEF entered into a $300 million term loan.

    May 3, 2018
  28. 2017-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2017

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), filed this combined Form 10-Q for the quarter ended September 30, 2017. For the three months ended September 30, 2017, Alliant Energy reported net income attributable to common shareowners of $168.8 million ($0.73 per share), compared with $128.4 million ($0.57 per share) in the prior-year quarter. Operating income rose to $231.5 million from $162.6 million, which the filing attributes primarily to the absence of the 2016 Franklin County wind farm asset valuation charge of $86.4 million, higher revenues from IPL's interim retail electric base rate increase, and WPL's base rate increases, partially offset by temperature impacts, higher depreciation, and higher energy efficiency amortization at WPL. For the nine months, net income attributable to common shareowners was $363.5 million ($1.59 per share). Key developments include IPL's partial, non-unanimous settlement in its retail electric rate review requesting an annual base rate increase of $130 million, or approximately 9%, subject to IUB approval, which led to a $9 million regulatory asset write-down in the third quarter. Marshalltown, a 660 MW natural gas-fired combined-cycle unit, was placed into service in April 2017, and the Franklin County wind farm was transferred to IPL. Alliant Energy also acquired a 50% equity interest in a 225 MW non-regulated wind farm in Oklahoma for $98 million of investment. Capital expenditures for the nine months totaled $1,072.3 million in investing activities, and the company entered a new $1 billion credit facility expiring August 2022. Liquidity remained steady, with cash and cash equivalents of $9.2 million at September 30, 2017, and the filing reports $570 million of available revolving credit facility capacity. Total assets were $14,114.9 million. The filing notes that IPL and WPL's subsequent October 2017 plans include WPL's $300 million debenture issuance and an agreement to acquire 55 MW of the Forward Wind Energy Center for approximately $74 million.

    Nov 3, 2017
  29. 2017-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2017

    Alliant Energy Corporation's Form 10-Q for the quarter ended June 30, 2017 reports second-quarter 2017 net income attributable to Alliant Energy common shareowners of $94.3 million, or $0.41 per share, compared with $83.9 million, or $0.37 per share, in the second quarter of 2016. For the six months, net income attributable to common shareowners was $194.7 million, or $0.85 per share, versus $180.4 million, or $0.80 per share, a year earlier. Operating revenues were $765.3 million for the quarter, up from $754.6 million. The filing attributes higher earnings mainly to revenue from IPL's interim retail electric base rate increase implemented in April 2017 and WPL's retail electric and gas base rate increases effective January 1, 2017, partially offset by higher depreciation expense and higher energy efficiency cost recovery amortization at WPL. Capital spending remained heavy. Utility construction and acquisition expenditures were $579.3 million for the six months. IPL's Marshalltown Generating Station, an approximate 660 MW natural gas-fired combined-cycle unit, was placed in service in April 2017 with total project costs of $640 million. WPL's West Riverside Energy Center is under construction and expected to be completed by early 2020. In July 2017, a subsidiary of Alliant Energy's non-regulated subsidiary AEF acquired a 50% interest in a 225 MW Oklahoma wind farm, with an expected increase in assets of approximately $98 million. The company raised equity and relied on short-term borrowing during the period. Alliant Energy issued 3,074,931 shares under an at-the-market program for cash proceeds of $124 million, net of commissions and fees. Commercial paper outstanding at Alliant Energy was $368.6 million at June 30, 2017. IPL also has a pending Iowa retail electric base rate request seeking an increase of $176 million, or approximately 12%, of which an interim increase of $102 million was implemented April 13, 2017, subject to refund.

    Aug 4, 2017
  30. 2017-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2017

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), filed this combined Form 10-Q for the quarter ended March 31, 2017. Alliant Energy reported first-quarter net income attributable to common shareowners of $100.4 million, or $0.44 per share, compared with $96.5 million, or $0.43 per share, in the first quarter of 2016. Income from continuing operations was $99.0 million, or $0.43 per share, flat year over year. Management attributed the flat result to WPL's retail base rate increases, which were offset by mild temperatures that reduced sales volumes, higher fuel-related costs at WPL, and higher depreciation expense. Operating revenues rose to $853.9 million from $843.8 million, while operating income declined to $142.9 million from $145.9 million. Capital spending remained heavy, with utility construction expenditures of $276.4 million in the quarter. IPL's Marshalltown natural gas-fired generating station, roughly 660 MW, was placed in service in April 2017 with capitalized expenditures of $635 million as of March 31, and WPL's 730 MW Riverside expansion is expected to be completed by early 2020. Regulatory developments included an IPL request filed in April 2017 to increase Iowa retail electric rates by $176 million, or approximately 12%, with an interim increase of $102 million, or approximately 7%, effective April 13, 2017 and subject to refund. The company also received first-quarter refunds of $51 million from MISO transmission owner return-on-equity complaints, of which $40 million went to IPL and $11 million to WPL, subject to final true-up by the end of July 2017.

    May 4, 2017
  31. 2016-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2016

    Alliant Energy Corporation's Form 10-Q for the quarter ended September 30, 2016 shows third-quarter operating revenues of $924.6 million, down from $898.9 million a year earlier, while operating income fell to $162.6 million from $235.9 million. The decline was driven primarily by an $86.4 million pre-tax asset valuation charge on the Franklin County wind farm. Net income attributable to Alliant Energy common shareowners was $128.4 million, or $0.57 per share, compared with $179.9 million, or $0.79 per share, in the prior-year quarter. The filing states that the company lower earnings were also affected by timing of income tax expense, higher reserves for ATC return on equity at WPL, and higher stock-based performance compensation, partly offset by favorable temperature impacts and higher AFUDC. For the nine months, net income attributable to common shareowners was $308.8 million ($1.36 per share) versus $344.1 million ($1.53 per share). Nine-month cash flow from operations was $654.0 million, and capital expenditures for the utility business were $743.6 million. Cash and cash equivalents rose to $84.7 million at September 30, 2016, and total assets were $13.03 billion. Long-term debt increased to $3.82 billion, largely reflecting IPL's $300 million of 3.7% senior debentures issued in September 2016. Key pending matters include WPL's 2017/2018 Wisconsin retail electric and gas rate case, for which a PSCW decision is expected in the fourth quarter of 2016; IPL's approved expansion of up to 500 MW of wind generation; the Marshalltown gas-fired EGU, now expected in service by the second quarter of 2017 with cost overruns reported; and the Riverside expansion, where WPL's estimated capital share is now about $640 million after electric cooperatives' option exercises. The company also disclosed that Moody's lowered the senior unsecured ratings of Alliant Energy and IPL from A3 to Baa1 in July 2016, with outlooks changed to stable.

    Nov 4, 2016
  32. 2016-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2016

    Alliant Energy Corporation's Form 10-Q for the quarter ended June 30, 2016 reports second-quarter net income attributable to common shareowners of $83.9 million ($0.37 per share), up from $67.6 million ($0.30 per share) in the second quarter of 2015. For the six months, net income attributable to common shareowners was $180.4 million ($0.80 per share) versus $164.2 million ($0.73 per share) a year earlier. Total operating revenues were $754.6 million for the quarter and $1,598.4 million for the six months. The filing attributes the higher second-quarter earnings mainly to 2015 losses on sales of IPL's Minnesota distribution assets, estimated temperature impacts on sales, higher AFUDC, lower retail electric customer billing credits at IPL, and lower energy efficiency cost recovery amortizations at WPL. The company is pursuing significant capital projects. IPL filed in July 2016 with the Iowa Utilities Board for up to 500 MW of additional wind generation at an approximate cost of $1 billion including AFUDC, with a decision expected by the end of 2016. WPL received PSCW authorization for the Riverside natural gas-fired combined-cycle expansion, with construction expected to be completed by early 2020. IPL's Marshalltown natural gas-fired generating station, about 650 MW, is expected to be completed in 2017, with $558 million of construction work in progress recorded as of June 30, 2016. WPL also filed a 2017/2018 retail base rate request with a 10.0% return on common equity, and expects a PSCW decision in the fourth quarter of 2016. Balance sheet and credit developments include total assets of $12,685.4 million at June 30, 2016 and a common stock two-for-one split distributed in May 2016. In July 2016, Moody's lowered Alliant Energy's and IPL's senior unsecured long-term debt ratings from A3 to Baa1, and WPL's from A1 to A2, with outlooks changed from negative to stable. The filing states these changes are not expected to have a material impact on liquidity or collateral obligations.

    Aug 2, 2016
  33. 2016-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2016

    Alliant Energy Corporation's Form 10-Q for the quarter ended March 31, 2016 reports consolidated operating revenues of $843.8 million, down from $897.4 million in the first quarter of 2015, and net income attributable to Alliant Energy common shareowners of $96.5 million, or $0.85 per share, compared with $96.6 million, or $0.87 per share, a year earlier. The filing attributes lower earnings from continuing operations primarily to lower electric and gas sales from warmer temperatures, higher depreciation expense, and the dilution from common shares issued in 2015, partly offset by higher AFUDC, lower retail electric customer billing credits at IPL, and an extra leap-year day. The balance sheet shows total assets of $12,535.0 million at March 31, 2016, up from $12,495.2 million at December 31, 2015, with total Alliant Energy common equity of $3,764.6 million. Net cash flows from operating activities were $228.3 million, versus $314.7 million in the prior-year quarter, and capital expenditures for the utility business were $220.4 million. Liquidity at quarter end included $787 million of available revolving credit facility capacity (per the filing), along with $5 million of cash and cash equivalents. Key forward-looking items include the Board's April 20, 2016 approval of a two-for-one common stock split (record date May 4, 2016, distribution expected May 19, 2016), the approval of WPL's Riverside expansion natural gas-fired combined-cycle unit, IPL's Marshalltown construction (expected completion in 2017), and a FERC order on ITC's Attachment "O" rates that the companies expect will lower future electric transmission service charges, though the magnitude is not determinable. The filing also notes a February 2016 Iowa District Court ruling dismissing flood damage claims against Alliant Energy and CRANDIC, which the plaintiffs have appealed.

    May 5, 2016
  34. 2015-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2015

    Alliant Energy Corporation, a public utility holding company whose primary subsidiaries are Interstate Power and Light Company (IPL), Wisconsin Power and Light Company (WPL), Alliant Energy Resources, LLC and Alliant Energy Corporate Services, Inc., reported net income attributable to common shareowners of $179.9 million for the third quarter of 2015, or $1.59 per share, compared with $153.3 million, or $1.38 per share, in the third quarter of 2014. For the nine months ended September 30, 2015, net income attributable to common shareowners was $344.1 million, or $3.06 per share, versus $323.1 million, or $2.92 per share, a year earlier. Total operating revenues were $898.9 million for the quarter and $2,513.5 million for the nine months, with operating income of $235.9 million and $497.8 million, respectively. The company's key capital projects include IPL's Marshalltown natural gas-fired combined-cycle generating station, which is expected to be completed in 2017 with capitalized construction work in progress of $414 million as of September 30, 2015, and WPL's scrubber and baghouse at Edgewater Unit 5, expected to be completed in 2016. WPL has also filed a Certificate of Public Convenience and Necessity application for the proposed Riverside expansion, with capital expenditures currently estimated at $680 million to $720 million and a PSCW decision expected by May 2016. Alliant Energy's 2015 to 2019 construction and acquisition expenditures are shown in the filing, with the 2015 total at $1,050 million for Alliant Energy, $615 million for IPL and $365 million for WPL. On the financing side, Alliant Energy issued common stock under its at-the-market program for net proceeds of $133 million and IPL issued $250 million of 3.4% senior debentures due 2025 in August 2015. Alliant Energy also announced a targeted 2016 annual common stock dividend of $2.35 per share, up from the 2015 pace reflected in the quarterly dividend of $0.55 per share declared in the third quarter, and Moody's changed the outlooks of Alliant Energy, IPL and WPL from stable to negative in August 2015. Cash and cash equivalents were $139.2 million at September 30, 2015, and available credit facility capacity totaled $891 million.

    Nov 6, 2015
  35. 2015-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2015

    Alliant Energy Corporation's Form 10-Q for the quarter ended June 30, 2015 reports consolidated operating revenues of $717.2 million for the second quarter, down from $750.3 million a year earlier, and net income attributable to Alliant Energy common shareowners of $67.6 million, compared with $61.8 million in the prior-year quarter. Diluted EPS was $0.60 versus $0.56. For the six months, net income attributable to common shareowners was $164.2 million ($1.46 per share), compared with $169.8 million ($1.53 per share) a year earlier, with lower revenues from milder temperatures and lower fuel-related costs. The filing covers Alliant Energy, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL) on a combined basis. Key developments include IPL's sale of its Minnesota natural gas distribution assets in April 2015 and its Minnesota electric distribution assets in July 2015, which produced a pre-tax charge of $9 million for the electric assets and $3 million for the gas assets. Alliant Energy issued 2,186,617 shares under an at-the-market program for net proceeds of $133 million, and IPL retired $150.0 million of 3.3% senior debentures in June 2015. Capital spending is focused on the Marshalltown natural gas plant (construction in progress of $343 million) and the Edgewater Unit 5 scrubber and baghouse, and the EPA's final CCR Rule increased asset retirement obligations by $74 million across the company. Regulatory and environmental items include IPL's July 2015 Consent Decree with the EPA and Sierra Club, WPL's order to recover $28 million of 2014 deferred fuel costs beginning in 2016, and the EPA's August 2015 final Section 111(b) and 111(d) carbon dioxide standards for fossil-fueled generating units. Pending FERC proceedings on MISO transmission owner return on equity could reduce equity income from ATC and future transmission charges, with a final FERC decision on the main complaint expected in 2016.

    Aug 6, 2015
  36. 2015-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2015

    Alliant Energy Corporation's first-quarter 2015 Form 10-Q reports consolidated operating revenues of $897.4 million, down from $952.8 million a year earlier, and net income attributable to Alliant Energy common shareowners of $96.6 million, or $0.87 per share, versus $108.0 million, or $0.97 per share, in the first quarter of 2014. The filing attributes the lower earnings primarily to weather: an estimated $0.08 per share decrease in revenues from lower electric and gas sales due to weather, along with $0.05 per share of higher electric transmission service expense at WPL and $0.03 per share of retail electric customer billing credits at IPL. These were partially offset by the absence of a $0.13 per share purchased capacity expense related to the previous DAEC PPA that IPL recognized in the first quarter of 2014. Liquidity and capital spending increased. Net cash flows from operating activities were $314.7 million, compared with $293.6 million, while cash used for investing activities rose to $250.9 million from $176.8 million, driven largely by higher utility construction expenditures for the Marshalltown generating station and emission controls projects. Alliant Energy issued 1,996,450 shares under an at-the-market program for net cash proceeds of $121 million, and total cash and cash equivalents ended the quarter at $97.6 million. Long-term debt was unchanged at $3,606.7 million, with commercial paper falling to $41.5 million. Regulatory and environmental items to watch include WPL's March 2015 fuel reconciliation application seeking recovery of $28 million of deferred fuel-related costs in 2016, a pending FERC decision on the MISO transmission owner return on equity complaint expected in 2016, and the final CCR Rule, which the company expects will increase AROs by no more than $85 million in the second quarter of 2015.

    May 1, 2015
  37. 2014-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2014

    Alliant Energy Corporation, with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reported net income attributable to Alliant Energy common shareowners of $153.3 million, or $1.38 per share, for the third quarter of 2014, compared with $157.6 million, or $1.42 per share, in the third quarter of 2013. For the nine months ended September 30, 2014, net income attributable to common shareowners was $323.1 million, or $2.92 per share, versus $292.8 million, or $2.64 per share, a year earlier. Management attributed the third-quarter decline mainly to $0.14 per share of IPL retail electric customer billing credits under its Iowa rate settlement, and an estimated $0.13 per share decrease in revenues from weather-related lower electric sales, partially offset by lower purchased electric capacity expense tied to the expired DAEC PPA. The filing shows continued heavy investment in the regulated utility business. Nine-month utility construction and acquisition expenditures were $587.4 million at Alliant Energy, and the company is building the Marshalltown natural gas-fired generating station at IPL, scrubbers and baghouses at several coal units, and proposes the Riverside expansion at WPL with estimated capital expenditures of $725 million to $775 million. Regulatory developments were generally favorable: the Wisconsin PSCW authorized WPL's 2015/2016 retail base rate case with a freeze on electric base rates through 2016, and the Iowa Utilities Board approved IPL's settlement with a base rate freeze through 2016. Liquidity remained adequate, with $11 million of cash and $646 million of available revolving credit capacity at September 30, 2014. Subsequent to quarter end, WPL issued $250 million of 4.10% debentures due 2044, and Alliant Energy entered into a $250 million variable-rate term loan to retire $250 million of 4% senior notes. Alliant Energy also announced a targeted 2015 annual common dividend of $2.20 per share, up from the 2014 level, and expects to issue about $150 million of common stock in 2015.

    Nov 7, 2014
  38. 2014-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2014

    Alliant Energy Corporation's Form 10-Q for the quarter ended June 30, 2014 reports consolidated net income attributable to Alliant Energy common shareowners of $61.8 million ($0.56 per share) for the second quarter, compared with $65.3 million ($0.59 per share) in the second quarter of 2013. For the six months, net income attributable to common shareowners was $169.8 million ($1.53 per share), versus $135.2 million ($1.22 per share) a year earlier. Consolidated operating revenues were $750.3 million for the quarter and $1.70 billion for the six months. The filing attributes the second-quarter decline primarily to $20 million of retail electric customer billing credits at IPL under a proposed settlement of its Iowa rate case, higher interest and depreciation expense, and purchased capacity costs in 2013 that did not recur. Regulatory developments are a major focus. In July 2014, the PSCW authorized WPL's retail electric and gas base rate filing as requested, which holds electric base rates flat through 2016. IPL filed a settlement proposal with the IUB to extend its Iowa retail electric base rate freeze through 2016, with a decision expected in the third quarter of 2014. WPL also requested a $55 million (about 5%) retail electric rate increase for 2015, mainly for fuel-related costs. Capital spending continues on emission controls projects: scrubbers and baghouses were placed in service at George Neal Unit 3 and Columbia Unit 2, and construction of the approximately 650 MW Marshalltown gas-fired plant began in June 2014. The company also reports $692 million of available revolving credit capacity and $16 million of cash at June 30, 2014. Key risks noted include a pending MISO transmission return-on-equity complaint, the proposed EPA Clean Power Plan for existing fossil-fueled EGUs, a pending Iowa lawsuit over 2008 Cedar River flooding that the company is unable to estimate, and guarantees tied to former RMT and Whiting Petroleum operations. IPL's sale of its Minnesota electric and gas distribution assets was expected to conclude by December 31, 2014, pending regulatory approvals.

    Aug 7, 2014
  39. 2014-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2014

    Alliant Energy Corporation, together with Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reported first-quarter 2014 results in this Form 10-Q. Alliant Energy's net income attributable to common shareowners was $108.0 million, or $0.97 per share, compared with $69.9 million, or $0.63 per share, in the first quarter of 2013. Total operating revenues rose to $952.8 million from $859.6 million, driven largely by weather: the filing states first-quarter temperatures were 20-25% colder than normal, boosting electric and gas sales. Electric margins increased 10% to $437.1 million, and the company cited lower purchased electric capacity expense after the previous DAEC PPA expired in February 2014. Regulatory activity was significant during the period. IPL filed in March 2014 a settlement to extend its Iowa retail electric base rate freeze through 2016, with customer billing credits of $70 million in 2014, $25 million in 2015 and $10 million in 2016, and expects an IUB decision in the second quarter of 2014. WPL filed a Wisconsin retail electric and gas rate case in April 2014 covering 2015 and 2016, requesting a $5 million decrease in gas base rates for 2015 followed by a freeze, and maintaining current electric base rates through 2016. Alliant Energy's cash and cash equivalents stood at $14.5 million at March 31, 2014, with $779 million of available revolving credit capacity. The filing also describes environmental and legal developments. WPL's Columbia Unit 2 scrubber and baghouse were placed in service in April 2014, and the U.S. Supreme Court reversed the D.C. Circuit's decision that vacated CSAPR. A pending flood damage class action against CRANDIC and Alliant Energy is at an early stage, and the company stated it cannot estimate a potential loss. Cash flow from operating activities was $293.6 million, versus $198.6 million a year earlier, in part due to higher cash flows from changes in IPL's sales of accounts receivable and the receipt of $26 million from Whiting Petroleum under a tax indemnification agreement.

    May 2, 2014
  40. 2013-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2013

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reported third-quarter 2013 results in this Form 10-Q. Net income attributable to Alliant Energy common shareowners was $157.6 million for the three months ended September 30, 2013, compared with $150.7 million a year earlier, and $292.8 million for the nine months compared with $251.5 million. Diluted EPS from net income was $1.42 for the quarter and $2.64 for the nine months. Operating revenues for the quarter declined to $866.6 million from $887.6 million, while electric margins rose, driven largely by the absence of the 2012 Riverside PPA capacity expense and higher transmission-rider revenues, partly offset by weather effects. The balance sheet shows total assets of $10.98 billion at September 30, 2013, and cash flows from operating activities of $643.1 million for the nine months. Key financing actions included IPL's issuance of $200 million of 5.1% cumulative preferred stock, used with other funds to redeem its 8.375% preferred stock, and WPL's redemption of all its outstanding preferred stock for $61 million. Management also reported that IPL agreed in September 2013 to sell its Minnesota electric and natural gas distribution assets for approximately $128 million in aggregate, with closing expected in the second half of 2014, and that a $250 million senior debenture issuance by IPL occurred in October 2013. Significant forward-looking items include a proposed Marshalltown natural gas-fired generating facility at IPL, a potential WPL generation investment, environmental compliance projects, and rising transmission costs. The filing estimates 2014 electric transmission service expenses will be about $60 million, $50 million and $10 million higher than 2013 for Alliant Energy, IPL and WPL, respectively. A class-action lawsuit involving the Cash Balance Plan could have a material effect on retirement plan funding and expense, and no material loss has been recognized for the judgment.

    Nov 7, 2013
  41. 2013-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2013

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), filed this combined Quarterly Report on Form 10-Q for the quarter ended June 30, 2013. For the three months ended June 30, 2013, Alliant Energy reported total operating revenues of $718.0 million (versus $690.3 million in 2012), operating income of $103.2 million (versus $108.8 million), and net income attributable to Alliant Energy common shareowners of $65.3 million, or $0.59 per share, compared with $65.9 million, or $0.60 per share, a year earlier. For the six months ended June 30, 2013, net income attributable to common shareowners was $135.2 million, or $1.22 per share, versus $100.8 million, or $0.91 per share in 2012. The company attributes the second-quarter results to items such as the absence of a $0.11 per share Riverside purchased-capacity charge from 2012, offset by weather-related decreases and higher depreciation. Balance-sheet and financing activity was significant in the first half of 2013. IPL issued 8,000,000 shares of 5.1% cumulative preferred stock for $200 million and redeemed its 8.375% preferred stock for $150 million, while WPL redeemed all of its outstanding preferred stock for $61 million. Total Alliant Energy assets were $10.89 billion at June 30, 2013. Alliant Energy received a $62.4 million cash grant for its Franklin County wind project. Construction spending on emission controls projects at WPL's Columbia Units 1 and 2 and IPL's Ottumwa Unit 1 and George Neal Units 3 and 4 continued to increase. Key contingencies disclosed include a Consent Decree with the EPA and Sierra Club, approved by the court in June 2013, requiring WPL to install several emission control systems and retire or fuel-switch certain units; an ERISA class-action against the Alliant Energy Cash Balance Pension Plan, where a final judgment of $18.7 million is on appeal; and a flood damage lawsuit filed in June 2013 involving CRANDIC, in which the company says it cannot yet estimate potential loss.

    Aug 2, 2013
  42. 2013-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2013

    Alliant Energy Corporation, together with its subsidiaries Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), reported first-quarter 2013 net income of $80.1 million, with net income attributable to Alliant Energy common shareowners of $69.9 million, or $0.63 per diluted share, compared with $34.9 million, or $0.32 per share, in the first quarter of 2012. Income from continuing operations rose to $83.1 million from $43.3 million. Management attributed the improvement mainly to colder weather that raised electric and gas sales, the absence of a first-quarter 2012 state income tax charge tied to the planned sale of RMT, and lower income taxes. Total operating revenues were $859.6 million versus $765.7 million, and operating income was $120.7 million versus $95.6 million. Partial offsets included charges for preferred stock redemptions and higher depreciation. The company completed several capital structure and portfolio actions in the quarter. Alliant Energy sold RMT, Inc. in January 2013. IPL issued $200 million of 5.1% cumulative preferred stock and redeemed its 8.375% preferred stock for $150 million, and WPL redeemed its remaining preferred stock for $61 million. Alliant Energy received a $62.4 million cash grant for the Franklin County wind project. Cash and cash equivalents ended the quarter at $53.4 million, and total assets were $10.73 billion. The filing also highlights ongoing regulatory and environmental items. In April 2013, WPL and other owners of Edgewater and Columbia entered into a Consent Decree with the EPA and the Sierra Club resolving alleged air permitting violations, subject to court approval, which requires emission control installations through 2018. An ERISA class-action against the Cash Balance Plan is on appeal, with a $18.7 million judgment for two subclasses that the company has not recognized as a loss contingency. IPL's proposed Marshalltown gas-fired generating station is subject to a settlement proposal that includes an 11% return on common equity.

    May 3, 2013
  43. 2012-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2012

    Alliant Energy Corporation, together with Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), filed this combined Form 10-Q for the quarter ended September 30, 2012. Alliant reported third-quarter 2012 net income attributable to common shareowners of $150.7 million ($1.36 per share), up from $122.0 million ($1.10 per share) a year earlier. Income from continuing operations was $149.0 million ($1.34 per share) versus $136.9 million ($1.23 per share). For the nine months, net income attributable to common shareowners was $251.5 million ($2.27 per share), compared with $246.6 million ($2.23 per share) in 2011. Operating revenues for the quarter were $887.6 million, and the company's RMT engineering business is classified as held for sale and reported as discontinued operations. The filing emphasizes a sizable capital program. Management's 2012 through 2016 construction and acquisition expenditure estimates total $1,180 million for 2012 and $835 million for 2013 at the consolidated level, including the approximately $393 million Riverside acquisition by WPL expected in December 2012 and environmental compliance projects. IPL plans an approximately 600 MW natural gas-fired facility in Marshalltown, Iowa, with a fixed cost cap of $700 million. Long-term debt at September 30, 2012 was $2,828.1 million, and the company reported $41.1 million of cash and $880 million of available revolving credit capacity. Key risks include a pending class-action ERISA lawsuit over the Alliant Energy Cash Balance Pension Plan, where a final judgment of approximately $18.7 million for two subclasses is under appeal, an air permitting dispute with the EPA and Sierra Club involving WPL's generating plants where a consent decree is being negotiated, and a formal FERC complaint by IPL against ITC's Attachment FF tariff. Management also flagged possible material increases in transmission costs for 2013 and the potential loss of Jo-Carroll as an IPL wholesale customer as early as 2014.

    Nov 9, 2012
  44. 2012-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2012

    Alliant Energy Corporation reported second-quarter 2012 net income attributable to common shareowners of $65.9 million, or $0.60 per share, compared with $51.1 million, or $0.46 per share, in the second quarter of 2011. For the six months, net income attributable to common shareowners was $100.8 million, or $0.91 per share, versus $124.6 million, or $1.13 per share, a year earlier. Six-month operating revenues were $1,456.0 million compared with $1,589.7 million, and cash flows from operating activities were $339.2 million compared with $466.8 million. The filing attributes the second-quarter improvement mainly to 2011 charges that did not recur, including regulatory-related charges from IPL's Minnesota electric rate case, Cash Balance Plan benefit costs, and regulatory asset impairments, as well as warmer weather. Non-regulated and parent income declined because of $0.17 per share of Wisconsin tax benefits recognized in the second quarter of 2011. The company is advancing a large capital program. WPL plans to acquire the Riverside Energy Center for approximately $393 million, with completion planned for December 2012 subject to remaining HSR Act approval. Environmental compliance projects are estimated at $275 million for 2012 and $365 million for 2013 for Alliant Energy as a whole. IPL expects to file in the fourth quarter of 2012 for approval of a roughly 600 MW natural gas-fired facility in Marshalltown, Iowa, with projected costs of $650 million to $750 million. Resources expects to complete the $235 million Franklin County wind project by the end of 2012. Alliant Energy also reported $787 million of available revolving credit capacity at June 30, 2012. Several regulatory and legal matters remain open. WPL received a Public Service Commission of Wisconsin order in July 2012 authorizing its 2013/2014 retail base rate filing as requested, which freezes retail electric rates through 2014 and reduces retail gas base rates by $13 million effective January 1, 2013. In the Cash Balance Plan class-action lawsuit, proposed judgments range from $17.9 million to $18.7 million, with an appeal expected. The company has not recognized a material loss for the Clean Air Act claims, which are being settled through a consent decree still under negotiation. The filing also notes that a large IPL wholesale customer, Jo-Carroll, is seeking early termination of its supply agreement, which the company says could be material.

    Aug 3, 2012
  45. 2012-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2012

    Alliant Energy Corporation, together with Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), filed a combined Form 10-Q for the quarter ended March 31, 2012. Alliant Energy reported net income attributable to common shareowners of $34.9 million, or $0.32 per share, versus $73.5 million, or $0.66 per share, in the first quarter of 2011. Total operating revenues were $765.7 million compared with $877.2 million, and operating income was $95.6 million compared with $127.3 million. The filing attributes the lower utility earnings mainly to weather, $0.14 per share of state income tax charges tied to the planned sale of the RMT business, and $0.11 per share from IPL's tax benefit rider, which is not expected to affect full-year results. The filing describes several pending strategic and regulatory items. WPL filed a May 2012 Wisconsin retail base rate request for 2013 and 2014 that proposes a 10.4% return on common equity, along with a decrease in natural gas base rates of $13 million effective Jan. 1, 2013. WPL also received PSCW approval in April 2012 to acquire the 600 MW Riverside Energy Center for approximately $393 million, with completion planned for December 2012. IPL is evaluating proposals for a potential new 600 MW natural gas-fired combined-cycle facility, with a decision expected in the third quarter of 2012. Legal and environmental exposures remain significant. The Cash Balance Plan class action is estimated to produce a trial court judgment of at least $17 million, and the company says the outcome could materially affect retirement plan funding and expense. Sierra Club and EPA air permitting claims against WPL could result in civil penalties of up to $37,500 per day per violation, and the company says the outcome could be significant but cannot estimate a loss. Liquidity appears adequate, with $918 million of available revolving credit capacity and $30.9 million of consolidated cash at March 31, 2012.

    May 4, 2012
  46. 2011-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2011

    Alliant Energy Corporation, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL) filed this combined Form 10-Q for the quarter ended September 30, 2011. Alliant Energy reported third-quarter net income attributable to common shareowners of $122.0 million ($1.10 per diluted share), down from $149.1 million ($1.35) a year earlier. Nine-month net income attributable to common shareowners was $246.6 million ($2.23 per diluted share), compared with $240.3 million ($2.17) in the prior-year period. Operating revenues rose to $2,786.1 million for the nine months from $2,583.5 million, driven largely by non-regulated revenues from RMT, which increased to $360.1 million from $129.5 million, while RMT's non-regulated operation and maintenance expenses also rose sharply. The third-quarter decline was attributed to a $20 million RMT charge tied to a subcontractor dispute on solar projects, a $34 million charge for IPL's SO2 emission allowance forward contracts (of which $30 million was deferred as a regulatory asset), and a $23 million impairment of emission allowance intangibles, partially offset by an IPL tax benefit rider effect. The filing highlights several regulatory and capital developments. The Minnesota Public Utilities Commission issued a final annual retail electric rate increase of $11 million for IPL, and the Iowa Utilities Board approved a $114 million final annual increase. WPL requested a $20 million retail fuel-related rate increase effective January 1, 2012, reflecting costs tied to the EPA's Cross-State Air Pollution Rule (CSAPR). IPL recorded an $8 million impairment on its Whispering Willow-East wind project costs pending a final MPUC recovery decision. The company also disclosed a pending ERISA class action against its Cash Balance Pension Plan, where the plan estimates a possible final damages judgment of about $6 million, and an EPA-related air permitting claim by the Sierra Club and EPA concerning WPL's Edgewater, Nelson Dewey and Columbia plants, for which no loss has been recognized. Moody's changed the credit rating outlooks of Alliant Energy, IPL and WPL from stable to negative in September 2011. Capital expenditure plans for 2011 through 2015 were also updated, including a planned natural gas-fired facility at IPL and emission control projects.

    Nov 3, 2011
  47. 2011-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2011

    Alliant Energy Corporation, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL) filed this combined Form 10-Q for the quarter ended June 30, 2011. Alliant Energy reported second-quarter 2011 net income attributable to common shareowners of $51.1 million ($0.46 per share), compared with $47.8 million ($0.43 per share) in the second quarter of 2010. For the six months, net income attributable to common shareowners was $124.6 million ($1.13 per share), versus $91.2 million ($0.83 per share) a year earlier. Operating revenues were $819.5 million for the quarter and $1,764.5 million for the six months, while operating income declined to $72.0 million in the quarter from $100.7 million a year earlier. Much of the improvement in earnings came from a $0.17 per share Wisconsin tax benefit, while the quarter was pressured by IPL's customer cost management plan bill credits, regulatory charges tied to a Minnesota rate case oral decision, and additional pension benefit costs. Regulatory developments were significant. IPL received a final Iowa retail electric rate increase of $114 million annually, and an oral decision in its Minnesota rate case authorizes an annual increase of approximately $11 million, which is below the interim rates collected. IPL recorded an $8 million impairment on Whispering Willow - East wind project costs that the Minnesota commission will likely disallow. WPL's Edgewater Unit 5 purchase and the Bent Tree - Phase I wind project, which entered service in the first half of 2011, added to utility plant. The Franklin County wind project was moved to non-regulated Resources, with IPL selling related assets to Resources for $115 million. Management noted that the EPA's July 2011 Cross-State Air Pollution Rule may lead to emission allowance impairments and additional environmental capital spending, and it described a Sierra Club air permitting lawsuit and EPA notice of violation at WPL facilities as contingencies for which no loss had been recognized. Balance sheet and liquidity remained solid. Alliant Energy had $77.1 million of cash at June 30, 2011, and $623 million of available revolving credit capacity. Total assets were $9,301.2 million, and long-term debt was $2,703.5 million. Cash flow from operations for the first half was $466.8 million. The company also disclosed a Cash Balance Pension Plan class action, for which it estimated a possible final judgment of about $6 million that had not been recognized as a liability.

    Aug 5, 2011
  48. 2011-Q1

    Alliant Energy Quarterly Report for Q1 Ended Mar 31, 2011

    Alliant Energy Corporation, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL) filed this combined Form 10-Q for the quarter ended March 31, 2011. Alliant Energy reported net income attributable to common shareowners of $73.5 million, or $0.66 per diluted share, compared with $43.4 million, or $0.39, in the first quarter of 2010. Total operating revenues rose to $945.0 million from $890.2 million, and operating income rose to $127.8 million from $109.0 million. Utility earnings per share from continuing operations were $0.59 versus $0.38, and non-regulated and parent earnings were $0.06 versus $0.01. Management attributed the increase mainly to non-fuel retail rate increases at IPL and WPL, lower income tax expense, and production tax credits, partially offset by higher electric transmission service expenses and a $5 million impairment of a WPL wind site. IPL's final Iowa retail electric rate increase of $114 million annually, approved in February 2011, is below the $119 million interim increase collected since March 2010, so IPL reserved $5 million for refunds. A change in tax accounting for mixed service costs, approved by the IRS in March 2011, produced regulatory liabilities of $152 million and a customer cost management plan that will credit Iowa customers' bills. Alliant Energy's tax expense was reduced, with an effective income tax rate of 22.4% versus 41.9% a year earlier. Balance sheet items include total assets of $9.40 billion and cash of $126.1 million at March 31, 2011. Legal and regulatory exposures remain significant. A class action against the Alliant Energy Cash Balance Pension Plan could result in a final judgment of up to $25 million, which the company has not accrued. Sierra Club lawsuits and an EPA notice of violation concern air permitting at WPL's Edgewater, Nelson Dewey and Columbia facilities, with the company saying an adverse outcome could be significant. The company also completed the Bent Tree - Phase I wind project and bought WEPCO's 25% interest in Edgewater Unit 5 for $38 million, and it is evaluating options for the remaining 100 MW of Vestas wind turbine generators, with capitalized costs of $109 million.

    May 5, 2011
  49. 2010-Q3

    Alliant Energy Quarterly Report for Q3 Ended Sep 30, 2010

    Alliant Energy Corporation, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL) filed this combined Form 10-Q for the quarter ended September 30, 2010. For the third quarter, Alliant Energy's operating revenues were $951.7 million (vs. $884.0 million in 2009) and operating income was $246.6 million (vs. $159.4 million). Net income attributable to Alliant Energy common shareowners was $149.1 million, or $1.35 per diluted share, compared with a net loss of $44.3 million, or $0.40 per share, in the prior-year quarter, which included a $202.8 million loss on early extinguishment of debt. For the nine months, net income attributable to common shareowners was $240.3 million ($2.17 per share) versus $57.4 million ($0.52 per share). Management attributed the third-quarter utility earnings increase mainly to non-fuel retail rate increases at IPL and WPL, weather, and a $5 million income tax benefit from IRS audit completions. The filing highlights significant pending regulatory matters. IPL has requested an annual Iowa retail electric increase of $150 million (revised from $163 million) and a Minnesota increase of $15 million, with interim increases of $119 million and $14 million in effect subject to refund. WPL has requested a 2011 retail electric increase of $19 million. IPL and WPL are building 200 MW Bent Tree - Phase I wind project, with $344 million in capitalized costs, and emission control projects with a 2010-2012 capital estimate of $80 million, $125 million and $225 million for Alliant Energy. The company also faces a Sierra Club air permitting complaint against WPL, with a potential civil penalty of up to $37,500 per day per violation, and an unresolved Cash Balance Pension Plan class action where plaintiffs' expert estimates ranged from $24 million to $54 million; Alliant Energy recorded a $9 million loss contingency for these matters. Liquidity was supported by $137 million of cash and $623 million of available revolving credit capacity at September 30, 2010. Alliant Energy's long-term debt was $2.70 billion, and the company received a tentative IRS agreement expected to yield a favorable determination letter for the pension plan. The filing notes that Alliant Energy plans to divest its IEA business by the end of 2010, and recorded a $4.9 million valuation charge on that business in the quarter.

    Oct 29, 2010
  50. 2010-Q2

    Alliant Energy Quarterly Report for Q2 Ended Jun 30, 2010

    Alliant Energy Corporation, together with Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), filed this Form 10-Q for the quarter ended June 30, 2010. For the second quarter, Alliant Energy reported operating revenues of $741.6 million (versus $740.8 million in 2009), operating income of $100.7 million (versus $62.4 million), and net income attributable to common shareowners of $47.8 million, or $0.43 per diluted share, compared with $29.1 million, or $0.26, a year earlier. For the first half of 2010, net income attributable to common shareowners was $91.2 million, or $0.83 per share, down from $101.7 million, or $0.92, in 2009, mainly because of a large income tax benefit recognized in the first half of 2009 under Wisconsin legislation. Management attributed higher second-quarter utility earnings primarily to retail rate increases at IPL and WPL. The company is investing heavily in wind generation and emission controls. WPL began construction of the 200 MW Bent Tree - Phase I wind project, with $285 million in capitalized expenditures as of June 30, 2010. IPL completed the Lansing Unit 4 SCR and baghouse emission controls in July 2010. IPL decided not to rebuild electric operations at Sixth Street, and WPL agreed to buy WEPCO's 25% interest in Edgewater Unit 5 for an expected $40 million to $45 million. Pending rate requests include IPL's Iowa request for $163 million, or approximately 14%, and IPL's Minnesota request for $15 million, or approximately 22%, both with interim increases already in effect. The filing also discloses significant contingencies. The Cash Balance Pension Plan class action, on which the court granted summary judgment on liability in June 2010, could result in underpayments that plaintiffs estimate at $24 million to $54 million including interest, though the company disputes this and has recorded an $8 million loss contingency. The EPA issued a Notice of Violation and Sierra Club filed notices of intent regarding air permitting at Nelson Dewey, Columbia and Edgewater, with no loss accrued. Liquidity was supported by $623 million of available revolving credit capacity and $171 million of cash at June 30, 2010, and the company issued $300 million of new debentures in June 2010.

    Aug 5, 2010