Commission | Name of Registrant, State of Incorporation, | IRS Employer |
File Number | Address of Principal Executive Offices and Telephone Number | Identification Number |
1-9894 | ALLIANT ENERGY CORPORATION | 39-1380265 |
(a Wisconsin corporation) | ||
4902 N. Biltmore Lane | ||
Madison, Wisconsin 53718 | ||
Telephone (608)458-3311 | ||
0-4117-1 | INTERSTATE POWER AND LIGHT COMPANY | 42-0331370 |
(an Iowa corporation) | ||
Alliant Energy Tower | ||
Cedar Rapids, Iowa 52401 | ||
Telephone (319)786-4411 | ||
0-337 | WISCONSIN POWER AND LIGHT COMPANY | 39-0714890 |
(a Wisconsin corporation) | ||
4902 N. Biltmore Lane | ||
Madison, Wisconsin 53718 | ||
Telephone (608)458-3311 |
(a) | Not applicable. |
(b) | Not applicable. |
(c) | Not applicable. |
(d) | Exhibits. The following exhibits are being furnished herewith: |
Date: February 14, 2013 | By:/s/ Robert J. Durian |
Robert J. Durian | |
Controller and Chief Accounting Officer |
Date: February 14, 2013 | By:/s/ Robert J. Durian |
Robert J. Durian | |
Controller and Chief Accounting Officer |
Date: February 14, 2013 | By:/s/ Robert J. Durian |
Robert J. Durian | |
Controller and Chief Accounting Officer |
(99.1) | Alliant Energy Corporation press release dated February 14, 2013. |
Alliant Energy Corporation |
Corporate Headquarters |
4902 North Biltmore Lane |
Suite 1000 |
Madison, WI 53718-2148 |
www.alliantenergy.com |
FOR IMMEDIATE RELEASE | Media Contact: | Scott Reigstad (608) 458-3145 | ||
Investor Relations: | Susan Gille (608) 458-3956 |
Adjusted (non-GAAP) EPS from Continuing Operations | GAAP EPS from Continuing Operations | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Utility and Corporate Services | $2.87 | $2.77 | $2.75 | $2.57 | |||||||||||
Non-regulated and Parent | 0.18 | 0.18 | 0.18 | 0.35 | |||||||||||
Alliant Energy Consolidated | $3.05 | $2.95 | $2.93 | $2.92 |
Total Year GAAP EPS | |||||||
2012 | 2011 | ||||||
Utility and Corporate Services | $2.75 | $2.57 | |||||
Non-regulated and Parent | 0.18 | 0.35 | |||||
Alliant Energy Consolidated | $2.93 | $2.92 |
2012 | 2011 | Variance | |||||||||
Utility and Corporate Services operations: | |||||||||||
Non-recurring state income tax impacts in 2012 | ($0.14 | ) | $— | ($0.14 | ) | ||||||
Income tax impacts at IPL due to Iowa rate-making practices associated with mixed service and repairs projects | 0.12 | — | 0.12 | ||||||||
Higher depreciation expense | (0.08 | ) | |||||||||
Higher capacity charges for nuclear purchased power agreements | (0.07 | ) | |||||||||
Impairment charges in 2011 | — | (0.07 | ) | 0.07 | |||||||
Net regulatory-related charges from IPL electric rate case decision in 2011 | — | (0.06 | ) | 0.06 | |||||||
Lower generation operation and maintenance expenses | 0.06 | ||||||||||
WPL retail fuel cost recovery | 0.03 | (0.02 | ) | 0.05 | |||||||
Cash Balance Pension Plan amendment charges in 2011 | — | (0.05 | ) | 0.05 | |||||||
Higher AFUDC (primarily due to emission control projects) | 0.05 | ||||||||||
Weather impact on electric and gas sales | 0.12 | 0.16 | (0.04 | ) | |||||||
Charges for emission allowance contracts in 2011 | — | (0.02 | ) | 0.02 | |||||||
Regulatory-related credits from WPL rate case decision in 2012 | 0.02 | — | 0.02 | ||||||||
Other | 0.01 | ||||||||||
Total Utility and Corporate Services operations | $0.18 | ||||||||||
Non-regulated and Parent operations: | |||||||||||
Non-recurring state income tax impacts in 2011 | $— | $0.17 | ($0.17 | ) | |||||||
Total Non-regulated and Parent operations | ($0.17 | ) |
Utility and Corporate Services | $2.90 - $3.10 |
Non-regulated and Parent | 0.05 - 0.15 |
Alliant Energy Consolidated | $2.95 - $3.25 |
• | Stable economy and resulting implications on utility sales |
• | Normal weather and operating conditions in its utility service territories |
• | Ability of IPL and WPL to earn their authorized rates of return |
• | Regulatory decisions impacting earnings at IPL from tax initiatives |
• | Ability of WPL to recover future purchased power, fuel and fuel-related costs through rates in a timely manner |
• | Continuing cost controls and operational efficiencies |
• | Execution of IPL’s and WPL’s capital expenditure plans |
• | Consolidated effective tax rate of 14% |
• | federal and state regulatory or governmental actions, including the impact of energy, tax, financial and health care legislation, and of regulatory agency orders; |
• | IPL’s and WPL’s ability to obtain adequate and timely rate relief to allow for, among other things, the recovery of operating costs, fuel costs, transmission costs, deferred expenditures, capital expenditures, and remaining costs related to generating units that may be permanently closed, earning their authorized rates of return, and the payments to their parent of expected levels of dividends; |
• | the ability to continue cost controls and operational efficiencies; |
• | the impact of IPL’s retail electric base rate freeze in Iowa through 2013; |
• | the impact of WPL’s retail electric and gas base rate freeze in Wisconsin through 2014; |
• | weather effects on results of utility operations including impacts of temperature changes and drought conditions in IPL’s and WPL’s service territories on customers’ demand for electricity and gas; |
• | the state of the economy in IPL’s and WPL’s service territories and resulting implications on sales, margins and ability to collect unpaid bills; |
• | developments that adversely impact Alliant Energy’s, IPL’s and WPL’s ability to implement their strategic plans, including unanticipated issues with new emission control equipment for various coal-fired generating facilities of IPL and WPL, IPL’s construction of its proposed natural gas-fired electric generating facility in Iowa, IPL’s new purchased power agreement with NextEra Energy Resources, LLC, Alliant Energy Resources, LLC’s selling price of the electricity output from its new 100 megawatt Franklin County wind project, and the potential decommissioning of certain generating facilities of IPL and WPL; |
• | issues related to the availability of generating facilities and the supply and delivery of fuel and purchased electricity and the price thereof, including the ability to recover and to retain the recovery of purchased power, fuel and fuel-related costs through rates in a timely manner; |
• | the impact that fuel and fuel-related prices may have on IPL’s and WPL’s customers’ demand for utility services; |
• | the ability to defend against environmental claims brought by state and federal agencies, such as the U.S. Environmental Protection Agency, or third parties, such as the Sierra Club; |
• | issues associated with environmental remediation efforts and with environmental compliance generally, including changing environmental laws and regulations and litigation associated with changing environmental laws and regulations; |
• | the ability to recover through rates all environmental compliance and remediation costs, including costs for projects put on hold due to uncertainty of future environmental laws and regulations; |
• | the direct or indirect effects resulting from terrorist incidents, including cyber terrorism, or responses to such incidents; |
• | impacts of future tax benefits from deductions for repairs expenditures and mixed service costs and temporary differences from historical tax benefits from such deductions that are included in rates when the differences reverse in future periods; |
• | any material post-closing adjustments related to any past asset divestitures, including the sale of RMT, Inc.; |
• | continued access to the capital markets on competitive terms and rates, and the actions of credit rating agencies; |
• | inflation and interest rates; |
• | changes to the creditworthiness of counterparties with which Alliant Energy, IPL and WPL have contractual arrangements, including participants in the energy markets and fuel suppliers and transporters; |
• | issues related to electric transmission, including operating in Regional Transmission Organization (RTO) energy and ancillary services markets, the impacts of potential future billing adjustments and cost allocation changes from RTOs and recovery of costs incurred; |
• | unplanned outages, transmission constraints or operational issues impacting fossil or renewable generating facilities and risks related to recovery of resulting incremental costs through rates; |
• | Alliant Energy’s ability to successfully pursue appropriate appeals with respect to, and any liabilities arising out of, the alleged violation of the Employee Retirement Income Security Act of 1974 by Alliant Energy’s Cash Balance Pension Plan; |
• | current or future litigation, regulatory investigations, proceedings or inquiries; |
• | Alliant Energy’s ability to sustain its dividend payout ratio goal; |
• | employee workforce factors, including changes in key executives, collective bargaining agreements and negotiations, work stoppages or additional restructurings; |
• | impacts that storms or natural disasters, including forest or prairie fires, in IPL’s and WPL’s service territories may have on their operations and recovery of, and rate relief for, costs associated with restoration activities; |
• | access to technological developments; |
• | material changes in retirement and benefit plan costs; |
• | the impact of incentive compensation plans accruals; |
• | the effect of accounting pronouncements issued periodically by standard-setting bodies; |
• | the impact of changes to governmental incentives for wind projects; |
• | the impact of adjustments made to deferred tax assets and liabilities from state apportionment assumptions; |
• | the ability to utilize tax credits and net operating losses generated to date, and those that may be generated in the future, before they expire; |
• | the ability to successfully complete tax audits, changes in tax accounting methods and appeals with no material impact on earnings and cash flows; and |
• | factors listed in the “2013 Earnings Guidance” sections of this press release. |
EPS: | GAAP EPS | Adjustments | Non-GAAP EPS | ||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | 2012 | 2011 | ||||||||||||||||||
IPL | $1.24 | $1.12 | $0.08 | $0.12 | $1.32 | $1.24 | |||||||||||||||||
WPL | 1.47 | 1.45 | 0.04 | 0.08 | 1.51 | 1.53 | |||||||||||||||||
Corporate Services | 0.04 | — | — | — | 0.04 | — | |||||||||||||||||
Subtotal for Utility and Corporate Services | 2.75 | 2.57 | 0.12 | 0.20 | 2.87 | 2.77 | |||||||||||||||||
Non-regulated and Parent | 0.18 | 0.35 | — | (0.17 | ) | 0.18 | 0.18 | ||||||||||||||||
EPS from continuing operations | 2.93 | 2.92 | 0.12 | 0.03 | 3.05 | 2.95 | |||||||||||||||||
EPS from discontinued operations | (0.04 | ) | (0.18 | ) | — | — | (0.04 | ) | (0.18 | ) | |||||||||||||
Alliant Energy Consolidated | $2.89 | $2.74 | $0.12 | $0.03 | $3.01 | $2.77 |
Earnings (in millions): | GAAP Income (Loss) | Adjustments | Non-GAAP Income (Loss) | ||||||||||||||||||||
2012 | 2011 | 2012 | 2011 | 2012 | 2011 | ||||||||||||||||||
IPL | $137.6 | $124.3 | $8.1 | $13.2 | $145.7 | $137.5 | |||||||||||||||||
WPL | 162.4 | 160.2 | 5.1 | 8.4 | 167.5 | 168.6 | |||||||||||||||||
Corporate Services | 4.8 | — | — | — | 4.8 | — | |||||||||||||||||
Subtotal for Utility and Corporate Services | 304.8 | 284.5 | 13.2 | 21.6 | 318.0 | 306.1 | |||||||||||||||||
Non-regulated and Parent | 20.1 | 38.6 | 0.1 | (18.6 | ) | 20.2 | 20.0 | ||||||||||||||||
Total earnings from continuing operations | 324.9 | 323.1 | 13.3 | 3.0 | 338.2 | 326.1 | |||||||||||||||||
Loss from discontinued operations | (5.1 | ) | (19.5 | ) | — | — | (5.1 | ) | (19.5 | ) | |||||||||||||
Alliant Energy Consolidated | $319.8 | $303.6 | $13.3 | $3.0 | $333.1 | $306.6 |
Non-GAAP Income (Loss) | |||||||||||||||
Adjustments | Non-GAAP EPS | ||||||||||||||
(in millions) | Adjustments | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Utility and Corporate Services Operations: | |||||||||||||||
Non-recurring state income tax impacts | ($15.1 | ) | $— | ($0.14 | ) | $— | |||||||||
Regulatory-related credits from WPL rate case decision | 1.9 | — | 0.02 | — | |||||||||||
Impairment charges | — | (7.1 | ) | — | (0.07 | ) | |||||||||
Net regulatory-related charges from IPL electric rate case decision | — | (6.6 | ) | — | (0.06 | ) | |||||||||
Cash balance pension plan amendment charges | — | (5.8 | ) | — | (0.05 | ) | |||||||||
Charges for emission allowance contracts | — | (2.1 | ) | — | (0.02 | ) | |||||||||
Subtotal for Utility and Corporate Services Operations | (13.2 | ) | (21.6 | ) | (0.12 | ) | (0.20 | ) | |||||||
Non-regulated and Parent Operations: | |||||||||||||||
Non-recurring state income tax impacts | (0.1 | ) | 18.9 | — | 0.17 | ||||||||||
Cash balance pension plan amendment charges | — | (0.3 | ) | — | — | ||||||||||
Subtotal for Non-regulated and Parent Operations | (0.1 | ) | 18.6 | — | 0.17 | ||||||||||
Alliant Energy Consolidated | ($13.3 | ) | ($3.0 | ) | ($0.12 | ) | ($0.03 | ) |
Q4 GAAP EPS | |||||||
2012 | 2011 | ||||||
Utility and Corporate Services | $0.57 | $0.44 | |||||
Non-regulated and Parent | 0.07 | 0.14 | |||||
Alliant Energy Consolidated | $0.64 | $0.58 |
2012 | 2011 | Variance | |||||||||
Utility and Corporate Services operations: | |||||||||||
Income tax impacts at IPL due to Iowa rate-making practices associated with mixed service and repairs projects | $0.07 | $— | $0.07 | ||||||||
Weather impact on electric and gas sales | (0.02 | ) | (0.06 | ) | 0.04 | ||||||
Electric tax benefit rider impact at IPL (timing between quarters) | (0.04 | ) | (0.05 | ) | 0.01 | ||||||
Other | 0.01 | ||||||||||
Total Utility and Corporate Services operations | $0.13 | ||||||||||
Non-regulated and Parent operations: | |||||||||||
Electric tax benefit rider impact at Parent (timing between quarters) | $0.02 | $0.04 | ($0.02 | ) | |||||||
Other | (0.05 | ) | |||||||||
Total Non-regulated and Parent operations | ($0.07 | ) |
ALLIANT ENERGY CORPORATION | |||||||||||||||
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) | |||||||||||||||
Quarter Ended December 31, | Year Ended December 31, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
(dollars in millions, except per share amounts) | |||||||||||||||
Operating revenues: | |||||||||||||||
Utility: | |||||||||||||||
Electric | $589.0 | $598.1 | $2,589.3 | $2,635.8 | |||||||||||
Gas | 132.4 | 134.2 | 396.3 | 476.7 | |||||||||||
Other | 17.0 | 16.2 | 56.7 | 62.0 | |||||||||||
Non-regulated | 12.5 | 12.3 | 52.2 | 46.9 | |||||||||||
750.9 | 760.8 | 3,094.5 | 3,221.4 | ||||||||||||
Operating expenses: | |||||||||||||||
Utility: | |||||||||||||||
Electric production fuel and energy purchases | 161.9 | 174.5 | 712.3 | 764.5 | |||||||||||
Purchased electric capacity | 55.3 | 52.0 | 271.5 | 257.2 | |||||||||||
Electric transmission service | 85.6 | 81.2 | 341.3 | 323.8 | |||||||||||
Cost of gas sold | 76.1 | 84.2 | 217.2 | 295.2 | |||||||||||
Other operation and maintenance | 157.4 | 153.6 | 590.0 | 630.2 | |||||||||||
Non-regulated operation and maintenance | 3.3 | 4.7 | 11.9 | 18.0 | |||||||||||
Depreciation and amortization | 85.0 | 81.0 | 332.4 | 321.0 | |||||||||||
Taxes other than income taxes | 24.7 | 23.6 | 98.2 | 98.2 | |||||||||||
649.3 | 654.8 | 2,574.8 | 2,708.1 | ||||||||||||
Operating income | 101.6 | 106.0 | 519.7 | 513.3 | |||||||||||
Interest expense and other: | |||||||||||||||
Interest expense | 40.9 | 38.6 | 156.7 | 158.3 | |||||||||||
Equity income from unconsolidated investments, net | (10.9 | ) | (9.7 | ) | (41.3 | ) | (39.3 | ) | |||||||
Allowance for funds used during construction | (7.5 | ) | (3.4 | ) | (21.9 | ) | (12.0 | ) | |||||||
Interest income and other | (1.6 | ) | (2.1 | ) | (4.0 | ) | (4.3 | ) | |||||||
20.9 | 23.4 | 89.5 | 102.7 | ||||||||||||
Income from continuing operations before income taxes | 80.7 | 82.6 | 430.2 | 410.6 | |||||||||||
Income taxes | 5.6 | 14.7 | 89.4 | 69.2 | |||||||||||
Income from continuing operations, net of tax | 75.1 | 67.9 | 340.8 | 341.4 | |||||||||||
Loss from discontinued operations, net of tax | (2.8 | ) | (6.9 | ) | (5.1 | ) | (19.5 | ) | |||||||
Net income | 72.3 | 61.0 | 335.7 | 321.9 | |||||||||||
Preferred dividend requirements of subsidiaries | 4.0 | 4.0 | 15.9 | 18.3 | |||||||||||
Net income attributable to Alliant Energy common shareowners | $68.3 | $57.0 | $319.8 | $303.6 | |||||||||||
Weighted average number of common shares outstanding (basic) (000s) | 110,772 | 110,663 | 110,753 | 110,626 | |||||||||||
Weighted average number of common shares outstanding (diluted) (000s) | 110,782 | 110,709 | 110,768 | 110,678 | |||||||||||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted): | |||||||||||||||
Income from continuing operations, net of tax | $0.64 | $0.58 | $2.93 | $2.92 | |||||||||||
Loss from discontinued operations, net of tax | (0.02 | ) | (0.07 | ) | (0.04 | ) | (0.18 | ) | |||||||
Net income | $0.62 | $0.51 | $2.89 | $2.74 | |||||||||||
Amounts attributable to Alliant Energy common shareowners: | |||||||||||||||
Income from continuing operations, net of tax | $71.1 | $63.9 | $324.9 | $323.1 | |||||||||||
Loss from discontinued operations, net of tax | (2.8 | ) | (6.9 | ) | (5.1 | ) | (19.5 | ) | |||||||
Net income | $68.3 | $57.0 | $319.8 | $303.6 | |||||||||||
Dividends declared per common share | $0.45 | $0.425 | $1.80 | $1.70 |
ALLIANT ENERGY CORPORATION | |||||||
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) | |||||||
December 31, | |||||||
2012 | 2011 | ||||||
(in millions) | |||||||
ASSETS: | |||||||
Property, plant and equipment: | |||||||
Utility plant in service, net of accumulated depreciation | $6,942.3 | $6,322.4 | |||||
Utility construction work in progress | 418.8 | 257.2 | |||||
Other property, plant and equipment, net of accumulated depreciation | 476.9 | 453.7 | |||||
Current assets: | |||||||
Cash and cash equivalents | 21.2 | 11.4 | |||||
Other current assets | 973.1 | 859.2 | |||||
Investments | 319.0 | 300.7 | |||||
Other assets | 1,634.2 | 1,483.3 | |||||
Total assets | $10,785.5 | $9,687.9 | |||||
CAPITALIZATION AND LIABILITIES: | |||||||
Capitalization: | |||||||
Alliant Energy Corporation common equity | $3,134.9 | $3,013.0 | |||||
Cumulative preferred stock of subsidiaries, net | 205.1 | 205.1 | |||||
Noncontrolling interest | 1.8 | 1.8 | |||||
Long-term debt, net (excluding current portion) | 3,136.6 | 2,703.1 | |||||
Total capitalization | 6,478.4 | 5,923.0 | |||||
Current liabilities: | |||||||
Current maturities of long-term debt | 1.5 | 1.4 | |||||
Commercial paper | 217.5 | 102.8 | |||||
Other current liabilities | 801.0 | 751.0 | |||||
Other long-term liabilities and deferred credits | 3,287.1 | 2,909.7 | |||||
Total capitalization and liabilities | $10,785.5 | $9,687.9 |
ALLIANT ENERGY CORPORATION | |||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | |||||||
Year Ended December 31, | |||||||
2012 | 2011 | ||||||
(in millions) | |||||||
Cash flows from operating activities | $841.1 | $702.7 | |||||
Cash flows used for investing activities: | |||||||
Construction and acquisition expenditures: | |||||||
Utility business | (1,025.5 | ) | (608.1 | ) | |||
Alliant Energy Corporate Services, Inc. and non-regulated businesses | (132.6 | ) | (65.3 | ) | |||
Other | 2.6 | 21.3 | |||||
Net cash flows used for investing activities | (1,155.5 | ) | (652.1 | ) | |||
Cash flows from (used for) financing activities: | |||||||
Common stock dividends | (199.3 | ) | (188.1 | ) | |||
Payments to redeem preferred stock | — | (40.0 | ) | ||||
Net change in commercial paper | 164.7 | 55.4 | |||||
Proceeds from issuance of long-term debt | 385.0 | 0.4 | |||||
Other | (26.2 | ) | (26.2 | ) | |||
Net cash flows from (used for) financing activities | 324.2 | (198.5 | ) | ||||
Net increase (decrease) in cash and cash equivalents | 9.8 | (147.9 | ) | ||||
Cash and cash equivalents at beginning of period | 11.4 | 159.3 | |||||
Cash and cash equivalents at end of period | $21.2 | $11.4 |
December 31, 2012 | December 31, 2011 | ||||||
Common shares outstanding (000s) | 110,987 | 111,019 | |||||
Book value per share | $28.25 | $27.14 | |||||
Quarterly common dividend rate per share | $0.45 | $0.425 |
Quarter Ended December 31, | Year Ended December 31, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Utility electric sales (000s of MWh) | |||||||||||||||
Residential | 1,792 | 1,792 | 7,679 | 7,740 | |||||||||||
Commercial | 1,541 | 1,527 | 6,352 | 6,253 | |||||||||||
Industrial | 2,856 | 2,876 | 11,555 | 11,504 | |||||||||||
Retail subtotal | 6,189 | 6,195 | 25,586 | 25,497 | |||||||||||
Sales for resale: | |||||||||||||||
Wholesale | 795 | 799 | 3,317 | 3,372 | |||||||||||
Bulk power and other | 485 | 277 | 1,303 | 1,757 | |||||||||||
Other | 40 | 39 | 151 | 151 | |||||||||||
Total | 7,509 | 7,310 | 30,357 | 30,777 | |||||||||||
Utility retail electric customers (at December 31) | |||||||||||||||
Residential | 844,388 | 842,780 | |||||||||||||
Commercial | 137,791 | 136,732 | |||||||||||||
Industrial | 2,842 | 2,895 | |||||||||||||
Total | 985,021 | 982,407 | |||||||||||||
Utility gas sold and transported (000s of Dth) | |||||||||||||||
Residential | 8,241 | 7,657 | 23,071 | 26,891 | |||||||||||
Commercial | 5,932 | 5,737 | 17,115 | 19,271 | |||||||||||
Industrial | 1,035 | 982 | 3,068 | 3,848 | |||||||||||
Retail subtotal | 15,208 | 14,376 | 43,254 | 50,010 | |||||||||||
Transportation / other | 14,229 | 12,710 | 57,532 | 52,210 | |||||||||||
Total | 29,437 | 27,086 | 100,786 | 102,220 | |||||||||||
Utility retail gas customers (at December 31) | |||||||||||||||
Residential | 368,708 | 367,497 | |||||||||||||
Commercial | 45,684 | 45,667 | |||||||||||||
Industrial | 456 | 496 | |||||||||||||
Total | 414,848 | 413,660 | |||||||||||||
Estimated margin increases (decreases) from net impacts of weather (in millions) - | |||||||||||||||
Quarter Ended December 31, | Year Ended December 31, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Electric margins | ($1 | ) | ($6 | ) | $36 | $29 | |||||||||
Gas margins | (2 | ) | (5 | ) | (13 | ) | — | ||||||||
Total weather impact on margins | ($3 | ) | ($11 | ) | $23 | $29 |
Quarter Ended December 31, | Year Ended December 31, | ||||||||||||||||
2012 | 2011 | Normal (a) | 2012 | 2011 | Normal (a) | ||||||||||||
Cooling degree days (CDDs) (a) | |||||||||||||||||
Cedar Rapids, Iowa (IPL) | 8 | 20 | 11 | 1,052 | 887 | 740 | |||||||||||
Madison, Wisconsin (WPL) | 3 | 10 | 7 | 1,070 | 814 | 625 | |||||||||||
Heating degree days (HDDs) (a) | |||||||||||||||||
Cedar Rapids, Iowa (IPL) | 2,481 | 2,172 | 2,523 | 5,901 | 6,745 | 6,794 | |||||||||||
Madison, Wisconsin (WPL) | 2,383 | 2,188 | 2,559 | 5,964 | 6,992 | 7,089 |