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Benefit Plans
 9 Months Ended
Sep. 30, 2020
Benefit Plans BENEFIT PLANS
NOTE 9(a) Pension and OPEB Plans -
Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three and nine months ended September 30 are included below (in millions). For IPL and WPL, amounts represent those for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans.
 
Defined Benefit Pension Plans
 
OPEB Plans
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
Alliant Energy
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Service cost

$3

 

$2

 

$8

 

$7

 

$1

 

$1

 

$3

 

$3

Interest cost
10

 
13

 
32

 
37

 
2

 
2

 
5

 
6

Expected return on plan assets
(17
)
 
(15
)
 
(52
)
 
(45
)
 
(1
)
 
(1
)
 
(4
)
 
(4
)
Amortization of actuarial loss
9

 
9

 
26

 
27

 
—

 
1

 
2

 
2

Settlement losses (a)
—

 
—

 
4

 
—

 
—

 
—

 
—

 
—

 

$5

 

$9

 

$18

 

$26

 

$2

 

$3

 

$6

 

$7

 
Defined Benefit Pension Plans
 
OPEB Plans
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
IPL
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Service cost

$2

 

$1

 

$5

 

$4

 

$—

 

$—

 

$1

 

$1

Interest cost
5

 
6

 
15

 
17

 
1

 
1

 
2

 
3

Expected return on plan assets
(8
)
 
(7
)
 
(24
)
 
(21
)
 
(1
)
 
(1
)
 
(3
)
 
(3
)
Amortization of actuarial loss
4

 
4

 
11

 
12

 
—

 
1

 
1

 
1

 

$3

 

$4

 

$7

 

$12

 

$—

 

$1

 

$1

 

$2

 
Defined Benefit Pension Plans
 
OPEB Plans
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
WPL
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Service cost

$1

 

$1

 

$3

 

$3

 

$—

 

$—

 

$1

 

$1

Interest cost
5

 
5

 
14

 
16

 
1

 
1

 
2

 
3

Expected return on plan assets
(8
)
 
(6
)
 
(23
)
 
(20
)
 
(1
)
 
—

 
(1
)
 
(1
)
Amortization of actuarial loss
4

 
4

 
12

 
13

 
1

 
—

 
2

 
1

 

$2

 

$4

 

$6

 

$12

 

$1

 

$1

 

$4

 

$4



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

NOTE 9(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three and nine months ended September 30 was as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Compensation expense

$5

 

$8

 

$10

 

$16

 

$3

 

$4

 

$6

 

$9

 

$2

 

$3

 

$4

 

$6

Income tax benefits
1

 
2

 
3

 
4

 
1

 
1

 
2

 
2

 
—

 
1

 
1

 
2



As of September 30, 2020, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $7 million, $4 million and $3 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years.

For the nine months ended September 30, 2020, performance shares, performance restricted stock units and restricted stock units were granted to key employees as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards. As of September 30, 2020, 276,070 shares were included in the calculation of diluted EPS related to the nonvested equity awards.
 
 
 
Weighted Average
 
Grants
 
Grant Date Fair Value
Performance shares
55,303

 

$64.04

Performance restricted stock units
55,303

 
59.47

Restricted stock units
60,284

 
59.49
IPL [Member]  
Benefit Plans BENEFIT PLANS
NOTE 9(a) Pension and OPEB Plans -
Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three and nine months ended September 30 are included below (in millions). For IPL and WPL, amounts represent those for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans.
 
Defined Benefit Pension Plans
 
OPEB Plans
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
Alliant Energy
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Service cost

$3

 

$2

 

$8

 

$7

 

$1

 

$1

 

$3

 

$3

Interest cost
10

 
13

 
32

 
37

 
2

 
2

 
5

 
6

Expected return on plan assets
(17
)
 
(15
)
 
(52
)
 
(45
)
 
(1
)
 
(1
)
 
(4
)
 
(4
)
Amortization of actuarial loss
9

 
9

 
26

 
27

 
—

 
1

 
2

 
2

Settlement losses (a)
—

 
—

 
4

 
—

 
—

 
—

 
—

 
—

 

$5

 

$9

 

$18

 

$26

 

$2

 

$3

 

$6

 

$7

 
Defined Benefit Pension Plans
 
OPEB Plans
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
IPL
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Service cost

$2

 

$1

 

$5

 

$4

 

$—

 

$—

 

$1

 

$1

Interest cost
5

 
6

 
15

 
17

 
1

 
1

 
2

 
3

Expected return on plan assets
(8
)
 
(7
)
 
(24
)
 
(21
)
 
(1
)
 
(1
)
 
(3
)
 
(3
)
Amortization of actuarial loss
4

 
4

 
11

 
12

 
—

 
1

 
1

 
1

 

$3

 

$4

 

$7

 

$12

 

$—

 

$1

 

$1

 

$2

 
Defined Benefit Pension Plans
 
OPEB Plans
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
WPL
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Service cost

$1

 

$1

 

$3

 

$3

 

$—

 

$—

 

$1

 

$1

Interest cost
5

 
5

 
14

 
16

 
1

 
1

 
2

 
3

Expected return on plan assets
(8
)
 
(6
)
 
(23
)
 
(20
)
 
(1
)
 
—

 
(1
)
 
(1
)
Amortization of actuarial loss
4

 
4

 
12

 
13

 
1

 
—

 
2

 
1

 

$2

 

$4

 

$6

 

$12

 

$1

 

$1

 

$4

 

$4



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

NOTE 9(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three and nine months ended September 30 was as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Compensation expense

$5

 

$8

 

$10

 

$16

 

$3

 

$4

 

$6

 

$9

 

$2

 

$3

 

$4

 

$6

Income tax benefits
1

 
2

 
3

 
4

 
1

 
1

 
2

 
2

 
—

 
1

 
1

 
2



As of September 30, 2020, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $7 million, $4 million and $3 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years.

For the nine months ended September 30, 2020, performance shares, performance restricted stock units and restricted stock units were granted to key employees as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards. As of September 30, 2020, 276,070 shares were included in the calculation of diluted EPS related to the nonvested equity awards.
 
 
 
Weighted Average
 
Grants
 
Grant Date Fair Value
Performance shares
55,303

 

$64.04

Performance restricted stock units
55,303

 
59.47

Restricted stock units
60,284

 
59.49
WPL [Member]  
Benefit Plans BENEFIT PLANS
NOTE 9(a) Pension and OPEB Plans -
Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three and nine months ended September 30 are included below (in millions). For IPL and WPL, amounts represent those for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans.
 
Defined Benefit Pension Plans
 
OPEB Plans
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
Alliant Energy
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Service cost

$3

 

$2

 

$8

 

$7

 

$1

 

$1

 

$3

 

$3

Interest cost
10

 
13

 
32

 
37

 
2

 
2

 
5

 
6

Expected return on plan assets
(17
)
 
(15
)
 
(52
)
 
(45
)
 
(1
)
 
(1
)
 
(4
)
 
(4
)
Amortization of actuarial loss
9

 
9

 
26

 
27

 
—

 
1

 
2

 
2

Settlement losses (a)
—

 
—

 
4

 
—

 
—

 
—

 
—

 
—

 

$5

 

$9

 

$18

 

$26

 

$2

 

$3

 

$6

 

$7

 
Defined Benefit Pension Plans
 
OPEB Plans
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
IPL
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Service cost

$2

 

$1

 

$5

 

$4

 

$—

 

$—

 

$1

 

$1

Interest cost
5

 
6

 
15

 
17

 
1

 
1

 
2

 
3

Expected return on plan assets
(8
)
 
(7
)
 
(24
)
 
(21
)
 
(1
)
 
(1
)
 
(3
)
 
(3
)
Amortization of actuarial loss
4

 
4

 
11

 
12

 
—

 
1

 
1

 
1

 

$3

 

$4

 

$7

 

$12

 

$—

 

$1

 

$1

 

$2

 
Defined Benefit Pension Plans
 
OPEB Plans
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
WPL
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Service cost

$1

 

$1

 

$3

 

$3

 

$—

 

$—

 

$1

 

$1

Interest cost
5

 
5

 
14

 
16

 
1

 
1

 
2

 
3

Expected return on plan assets
(8
)
 
(6
)
 
(23
)
 
(20
)
 
(1
)
 
—

 
(1
)
 
(1
)
Amortization of actuarial loss
4

 
4

 
12

 
13

 
1

 
—

 
2

 
1

 

$2

 

$4

 

$6

 

$12

 

$1

 

$1

 

$4

 

$4



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

NOTE 9(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three and nine months ended September 30 was as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
 
Three Months
 
Nine Months
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Compensation expense

$5

 

$8

 

$10

 

$16

 

$3

 

$4

 

$6

 

$9

 

$2

 

$3

 

$4

 

$6

Income tax benefits
1

 
2

 
3

 
4

 
1

 
1

 
2

 
2

 
—

 
1

 
1

 
2



As of September 30, 2020, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $7 million, $4 million and $3 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years.

For the nine months ended September 30, 2020, performance shares, performance restricted stock units and restricted stock units were granted to key employees as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards. As of September 30, 2020, 276,070 shares were included in the calculation of diluted EPS related to the nonvested equity awards.
 
 
 
Weighted Average
 
Grants
 
Grant Date Fair Value
Performance shares
55,303

 

$64.04

Performance restricted stock units
55,303

 
59.47

Restricted stock units
60,284

 
59.49