(4) RECEIVABLES

(a) Sales of Accounts Receivable - Effective April 1, 2010, IPL entered into an amended and restated Receivables Purchase and Sale Agreement (Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third-party financial institution through wholly-owned and consolidated special purpose entities. The purchase commitment from the third-party financial institution expires in March 2012. IPL is currently pursuing the extension of the purchase commitment. IPL accounts for sales of receivables under the Agreement as transfers of financial assets. In exchange for the receivables sold, IPL will receive from the third-party financial institution cash proceeds (based on seasonal limits up to $160 million), and deferred proceeds recorded in "Accounts receivable" on Alliant Energy's and IPL's Consolidated Balance Sheets. IPL makes monthly payments to the third-party financial institution of an amount that varies based on interest rates, the length of time the cash proceeds remain outstanding and the total amount under commitment by the third-party financial institution. IPL has historically used proceeds from the sales of receivables to maintain flexibility in its capital structure, take advantage of favorable short-term rates and finance a portion of its cash needs.

Deferred proceeds are payable by the third-party financial institution solely from the collections of the receivables, but only after paying any required expenses to the third-party financial institution and the collection agent. Corporate Services acts as collection agent for the third-party financial institution and receives a fee for collection services. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of any credit risk of the customers that generated the receivables. Therefore, the carrying amount of deferred proceeds, after being reduced by the allowance for doubtful accounts, approximates the fair value of the deferred proceeds due to the short-term nature of the collection period. The carrying amount of deferred proceeds represents IPL's maximum exposure to loss related to the receivables sold.

As of Dec. 31, 2011 and 2010, IPL sold $195.3 million and $219.6 million aggregate amounts of receivables, respectively. IPL's maximum and average outstanding cash proceeds, and costs incurred related to the sales of receivables program were as follows (in millions):


	2011		2010		2009
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$	160.0	$	160.0	$	170.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)		118.1		78.1		113.0
Costs incurred		1.5		1.4		2.1

As of Dec. 31, the attributes of IPL's receivables sold under the Agreement were as follows (in millions):


	2011		2010
Customer accounts receivable	$	122.4	$	133.0
Unbilled utility revenues		65.4		80.9
Other receivables		7.5		5.7

Receivables sold		195.3		219.6
Less: cash proceeds (a)		140.0		65.0

Deferred proceeds		55.3		154.6
Less: allowance for doubtful accounts		1.6		1.7

Fair value of deferred proceeds	$	53.7	$	152.9

Outstanding receivables past due	$	15.9	$	14.1

(a)	Changes in cash proceeds are recorded in "Sales of accounts receivable" in operating activities in Alliant Energy's and IPL's Consolidated Statements of Cash Flows.

Additional attributes of IPL's receivables sold under the Agreement were as follows (in millions):


	2011		2010
Collections reinvested in receivables	$	1,795.7	$	1,354.2
Credit losses, net of recoveries		10.9		7.9

(b) Customer Accounts Receivable - Alliant Energy's RMT business accounts for revenues under the percentage of completion method for the majority of its renewable energy projects and the related accounts receivable are recognized at original invoice amount. Revenues recognized but not yet invoiced are recorded as unbilled revenue. Due to the large project volume RMT has experienced in 2011, RMT's customer accounts receivable and unbilled revenues have significantly increased in 2011. As of Dec. 31, 2011 and 2010, RMT's total customer accounts receivable and unbilled revenues were $101 million and $26 million, respectively, and were recorded in "Accounts receivable - customer" on Alliant Energy's Consolidated Balance Sheets. Refer to Note 13(e) for discussion of credit risk related to RMT's customer accounts receivable.

(c) Whiting Petroleum Corporation (WPC) Tax Sharing Agreement - Prior to an initial public offering (IPO) of WPC in 2003, Alliant Energy and WPC entered into a tax separation and indemnification agreement pursuant to which Alliant Energy and WPC made tax elections. These tax elections had the effect of increasing the tax basis of the assets of WPC's consolidated tax group based on the sales price of WPC's shares in the IPO. The increase in the tax basis of the assets was included in income in Alliant Energy's U.S. federal income tax return for the calendar year 2003. Pursuant to the tax separation and indemnification agreement, WPC will be obligated to pay Resources 90% of any tax benefits realized annually due to the additional tax deductions from the increase in tax basis for years ending on or prior to Dec. 31, 2013. Such tax benefits will generally be calculated by comparing WPC's actual taxes to the taxes that would have been owed by WPC had the increase in basis not occurred. In 2014, WPC will be obligated to pay Resources the present value of the remaining tax benefits assuming all such tax benefits will be realized in future years. At the IPO closing date, Resources recorded a receivable from WPC based on the estimated present value of the payments expected from WPC. At Dec. 31, 2011 and 2010, the carrying value of this receivable was $27 million and $26 million, respectively. The current and non-current portions of this receivable are recorded in "Prepayments and other" and "Deferred charges and other," respectively, on Alliant Energy's Consolidated Balance Sheets.

(d) Advances for Customer Energy Efficiency Projects - WPL and IPL offer energy efficiency programs to certain of their customers in Wisconsin and Minnesota, respectively. The energy efficiency programs provide low-cost financing to help customers identify, purchase and install energy efficiency improvement projects. The customers repay WPL and IPL with monthly payments over a term up to five years. The advances for and collections of customer energy efficiency projects are recorded as investing activities in the Consolidated Statements of Cash Flows. The current portion and non-current portion of outstanding advances for customer energy efficiency projects are recorded in "Accounts receivable - other" and "Deferred charges and other," respectively, on the Consolidated Balance Sheets. At Dec. 31, outstanding advances for customer energy efficiency projects were as follows (in millions):


	Alliant Energy				IPL				WPL
	2011		2010		2011		2010		2011		2010
Current portion	$	22.2	$	28.0	$	1.7	$	3.0	$	20.5	$	25.0
Non-current portion		28.2		48.3		1.7		4.6		26.5		43.7

	$	50.4	$	76.3	$	3.4	$	7.6	$	47.0	$	68.7

Receivables

(4) RECEIVABLES

(a) Sales of Accounts Receivable - Effective April 1, 2010, IPL entered into an amended and restated Receivables Purchase and Sale Agreement (Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third-party financial institution through wholly-owned and consolidated special purpose entities. The purchase commitment from the third-party financial institution expires in March 2012. IPL is currently pursuing the extension of the purchase commitment. IPL accounts for sales of receivables under the Agreement as transfers of financial assets. In exchange for the receivables sold, IPL will receive from the third-party financial institution cash proceeds (based on seasonal limits up to $160 million), and deferred proceeds recorded in "Accounts receivable" on Alliant Energy's and IPL's Consolidated Balance Sheets. IPL makes monthly payments to the third-party financial institution of an amount that varies based on interest rates, the length of time the cash proceeds remain outstanding and the total amount under commitment by the third-party financial institution. IPL has historically used proceeds from the sales of receivables to maintain flexibility in its capital structure, take advantage of favorable short-term rates and finance a portion of its cash needs.

Deferred proceeds are payable by the third-party financial institution solely from the collections of the receivables, but only after paying any required expenses to the third-party financial institution and the collection agent. Corporate Services acts as collection agent for the third-party financial institution and receives a fee for collection services. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of any credit risk of the customers that generated the receivables. Therefore, the carrying amount of deferred proceeds, after being reduced by the allowance for doubtful accounts, approximates the fair value of the deferred proceeds due to the short-term nature of the collection period. The carrying amount of deferred proceeds represents IPL's maximum exposure to loss related to the receivables sold.

As of Dec. 31, 2011 and 2010, IPL sold $195.3 million and $219.6 million aggregate amounts of receivables, respectively. IPL's maximum and average outstanding cash proceeds, and costs incurred related to the sales of receivables program were as follows (in millions):


	2011		2010		2009
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$	160.0	$	160.0	$	170.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)		118.1		78.1		113.0
Costs incurred		1.5		1.4		2.1

As of Dec. 31, the attributes of IPL's receivables sold under the Agreement were as follows (in millions):


	2011		2010
Customer accounts receivable	$	122.4	$	133.0
Unbilled utility revenues		65.4		80.9
Other receivables		7.5		5.7

Receivables sold		195.3		219.6
Less: cash proceeds (a)		140.0		65.0

Deferred proceeds		55.3		154.6
Less: allowance for doubtful accounts		1.6		1.7

Fair value of deferred proceeds	$	53.7	$	152.9

Outstanding receivables past due	$	15.9	$	14.1

(a)	Changes in cash proceeds are recorded in "Sales of accounts receivable" in operating activities in Alliant Energy's and IPL's Consolidated Statements of Cash Flows.

Additional attributes of IPL's receivables sold under the Agreement were as follows (in millions):


	2011		2010
Collections reinvested in receivables	$	1,795.7	$	1,354.2
Credit losses, net of recoveries		10.9		7.9

(b) Customer Accounts Receivable - Alliant Energy's RMT business accounts for revenues under the percentage of completion method for the majority of its renewable energy projects and the related accounts receivable are recognized at original invoice amount. Revenues recognized but not yet invoiced are recorded as unbilled revenue. Due to the large project volume RMT has experienced in 2011, RMT's customer accounts receivable and unbilled revenues have significantly increased in 2011. As of Dec. 31, 2011 and 2010, RMT's total customer accounts receivable and unbilled revenues were $101 million and $26 million, respectively, and were recorded in "Accounts receivable - customer" on Alliant Energy's Consolidated Balance Sheets. Refer to Note 13(e) for discussion of credit risk related to RMT's customer accounts receivable.

(c) Whiting Petroleum Corporation (WPC) Tax Sharing Agreement - Prior to an initial public offering (IPO) of WPC in 2003, Alliant Energy and WPC entered into a tax separation and indemnification agreement pursuant to which Alliant Energy and WPC made tax elections. These tax elections had the effect of increasing the tax basis of the assets of WPC's consolidated tax group based on the sales price of WPC's shares in the IPO. The increase in the tax basis of the assets was included in income in Alliant Energy's U.S. federal income tax return for the calendar year 2003. Pursuant to the tax separation and indemnification agreement, WPC will be obligated to pay Resources 90% of any tax benefits realized annually due to the additional tax deductions from the increase in tax basis for years ending on or prior to Dec. 31, 2013. Such tax benefits will generally be calculated by comparing WPC's actual taxes to the taxes that would have been owed by WPC had the increase in basis not occurred. In 2014, WPC will be obligated to pay Resources the present value of the remaining tax benefits assuming all such tax benefits will be realized in future years. At the IPO closing date, Resources recorded a receivable from WPC based on the estimated present value of the payments expected from WPC. At Dec. 31, 2011 and 2010, the carrying value of this receivable was $27 million and $26 million, respectively. The current and non-current portions of this receivable are recorded in "Prepayments and other" and "Deferred charges and other," respectively, on Alliant Energy's Consolidated Balance Sheets.

(d) Advances for Customer Energy Efficiency Projects - WPL and IPL offer energy efficiency programs to certain of their customers in Wisconsin and Minnesota, respectively. The energy efficiency programs provide low-cost financing to help customers identify, purchase and install energy efficiency improvement projects. The customers repay WPL and IPL with monthly payments over a term up to five years. The advances for and collections of customer energy efficiency projects are recorded as investing activities in the Consolidated Statements of Cash Flows. The current portion and non-current portion of outstanding advances for customer energy efficiency projects are recorded in "Accounts receivable - other" and "Deferred charges and other," respectively, on the Consolidated Balance Sheets. At Dec. 31, outstanding advances for customer energy efficiency projects were as follows (in millions):


	Alliant Energy				IPL				WPL
	2011		2010		2011		2010		2011		2010
Current portion	$	22.2	$	28.0	$	1.7	$	3.0	$	20.5	$	25.0
Non-current portion		28.2		48.3		1.7		4.6		26.5		43.7

	$	50.4	$	76.3	$	3.4	$	7.6	$	47.0	$	68.7

Receivables

(4) RECEIVABLES

(a) Sales of Accounts Receivable - Effective April 1, 2010, IPL entered into an amended and restated Receivables Purchase and Sale Agreement (Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third-party financial institution through wholly-owned and consolidated special purpose entities. The purchase commitment from the third-party financial institution expires in March 2012. IPL is currently pursuing the extension of the purchase commitment. IPL accounts for sales of receivables under the Agreement as transfers of financial assets. In exchange for the receivables sold, IPL will receive from the third-party financial institution cash proceeds (based on seasonal limits up to $160 million), and deferred proceeds recorded in "Accounts receivable" on Alliant Energy's and IPL's Consolidated Balance Sheets. IPL makes monthly payments to the third-party financial institution of an amount that varies based on interest rates, the length of time the cash proceeds remain outstanding and the total amount under commitment by the third-party financial institution. IPL has historically used proceeds from the sales of receivables to maintain flexibility in its capital structure, take advantage of favorable short-term rates and finance a portion of its cash needs.

Deferred proceeds are payable by the third-party financial institution solely from the collections of the receivables, but only after paying any required expenses to the third-party financial institution and the collection agent. Corporate Services acts as collection agent for the third-party financial institution and receives a fee for collection services. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of any credit risk of the customers that generated the receivables. Therefore, the carrying amount of deferred proceeds, after being reduced by the allowance for doubtful accounts, approximates the fair value of the deferred proceeds due to the short-term nature of the collection period. The carrying amount of deferred proceeds represents IPL's maximum exposure to loss related to the receivables sold.

As of Dec. 31, 2011 and 2010, IPL sold $195.3 million and $219.6 million aggregate amounts of receivables, respectively. IPL's maximum and average outstanding cash proceeds, and costs incurred related to the sales of receivables program were as follows (in millions):


	2011		2010		2009
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$	160.0	$	160.0	$	170.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)		118.1		78.1		113.0
Costs incurred		1.5		1.4		2.1

As of Dec. 31, the attributes of IPL's receivables sold under the Agreement were as follows (in millions):


	2011		2010
Customer accounts receivable	$	122.4	$	133.0
Unbilled utility revenues		65.4		80.9
Other receivables		7.5		5.7

Receivables sold		195.3		219.6
Less: cash proceeds (a)		140.0		65.0

Deferred proceeds		55.3		154.6
Less: allowance for doubtful accounts		1.6		1.7

Fair value of deferred proceeds	$	53.7	$	152.9

Outstanding receivables past due	$	15.9	$	14.1

(a)	Changes in cash proceeds are recorded in "Sales of accounts receivable" in operating activities in Alliant Energy's and IPL's Consolidated Statements of Cash Flows.

Additional attributes of IPL's receivables sold under the Agreement were as follows (in millions):


	2011		2010
Collections reinvested in receivables	$	1,795.7	$	1,354.2
Credit losses, net of recoveries		10.9		7.9

(b) Customer Accounts Receivable - Alliant Energy's RMT business accounts for revenues under the percentage of completion method for the majority of its renewable energy projects and the related accounts receivable are recognized at original invoice amount. Revenues recognized but not yet invoiced are recorded as unbilled revenue. Due to the large project volume RMT has experienced in 2011, RMT's customer accounts receivable and unbilled revenues have significantly increased in 2011. As of Dec. 31, 2011 and 2010, RMT's total customer accounts receivable and unbilled revenues were $101 million and $26 million, respectively, and were recorded in "Accounts receivable - customer" on Alliant Energy's Consolidated Balance Sheets. Refer to Note 13(e) for discussion of credit risk related to RMT's customer accounts receivable.

(c) Whiting Petroleum Corporation (WPC) Tax Sharing Agreement - Prior to an initial public offering (IPO) of WPC in 2003, Alliant Energy and WPC entered into a tax separation and indemnification agreement pursuant to which Alliant Energy and WPC made tax elections. These tax elections had the effect of increasing the tax basis of the assets of WPC's consolidated tax group based on the sales price of WPC's shares in the IPO. The increase in the tax basis of the assets was included in income in Alliant Energy's U.S. federal income tax return for the calendar year 2003. Pursuant to the tax separation and indemnification agreement, WPC will be obligated to pay Resources 90% of any tax benefits realized annually due to the additional tax deductions from the increase in tax basis for years ending on or prior to Dec. 31, 2013. Such tax benefits will generally be calculated by comparing WPC's actual taxes to the taxes that would have been owed by WPC had the increase in basis not occurred. In 2014, WPC will be obligated to pay Resources the present value of the remaining tax benefits assuming all such tax benefits will be realized in future years. At the IPO closing date, Resources recorded a receivable from WPC based on the estimated present value of the payments expected from WPC. At Dec. 31, 2011 and 2010, the carrying value of this receivable was $27 million and $26 million, respectively. The current and non-current portions of this receivable are recorded in "Prepayments and other" and "Deferred charges and other," respectively, on Alliant Energy's Consolidated Balance Sheets.

(d) Advances for Customer Energy Efficiency Projects - WPL and IPL offer energy efficiency programs to certain of their customers in Wisconsin and Minnesota, respectively. The energy efficiency programs provide low-cost financing to help customers identify, purchase and install energy efficiency improvement projects. The customers repay WPL and IPL with monthly payments over a term up to five years. The advances for and collections of customer energy efficiency projects are recorded as investing activities in the Consolidated Statements of Cash Flows. The current portion and non-current portion of outstanding advances for customer energy efficiency projects are recorded in "Accounts receivable - other" and "Deferred charges and other," respectively, on the Consolidated Balance Sheets. At Dec. 31, outstanding advances for customer energy efficiency projects were as follows (in millions):


	Alliant Energy				IPL				WPL
	2011		2010		2011		2010		2011		2010
Current portion	$	22.2	$	28.0	$	1.7	$	3.0	$	20.5	$	25.0
Non-current portion		28.2		48.3		1.7		4.6		26.5		43.7

	$	50.4	$	76.3	$	3.4	$	7.6	$	47.0	$	68.7