INVESTMENTS

(a) Unconsolidated Equity Investments - Alliant Energy’s and WPL’s unconsolidated investments accounted for under the equity method of accounting are as follows (in millions):



	Ownership	Carrying Value at
	Interest at	December 31,				Equity (Income) / Loss
	December 31, 2014	2014		2013		2014			2013			2012
Alliant Energy
ATC (a)	16%		$286.5		$272.1		($41.9	)		($42.7	)		($41.3	)
Wisconsin River Power Company	50%	7.8		7.0		(0.9		)	(1.0		)	(0.8		)
Other	Various	2.3		2.3		2.4			—			0.8
			$296.6		$281.4		($40.4	)		($43.7	)		($41.3	)
WPL
ATC (a)	16%		$286.5		$272.1		($41.9	)		($42.7	)		($41.3	)
Wisconsin River Power Company	50%	7.8		7.0		(0.9		)	(1.0		)	(0.8		)
			$294.3		$279.1		($42.8	)		($43.7	)		($42.1	)


(a)	Alliant Energy and WPL have the ability to exercise significant influence over ATC’s financial and operating policies through their participation on ATC’s Board of Directors. Refer to Note 18 for information regarding related party transactions with ATC.

Summary aggregate financial information from the financial statements of these investments is as follows (in millions):



	Alliant Energy						WPL
	2014		2013		2012		2014		2013		2012
Operating revenues		$643		$634		$611		$643		$634		$611
Operating income	330		334		326		330		334		325
Net income	240		248		234		240		250		239
As of December 31:
Current assets	72		86				70		84
Non-current assets	3,773		3,553				3,747		3,527
Current liabilities	315		383				315		383
Non-current liabilities	1,871		1,682				1,870		1,681

WPL’s Noncontrolling Interest - Prior to 2014, WPL owned 100% of WPL Transco, which holds Alliant Energy’s investment in ATC. In January 2014, WPL Transco’s operating agreement was amended to allow ATI, a wholly-owned subsidiary of Resources, to become a member of WPL Transco in addition to WPL. In 2014, ATI began funding capital contributions that WPL Transco makes to ATC. As of December 31, 2014, WPL’s and ATI’s ownership interests in WPL Transco were approximately 95% and 5%, respectively. WPL continues to consolidate WPL Transco and as a result, ATI’s ownership interest in WPL Transco was recorded as a noncontrolling interest in total equity on WPL’s balance sheet as of December 31, 2014.

In 2014, WPL Transco’s equity income from ATC and ATC dividends received by WPL Transco were allocated between WPL and ATI based on their respective ownership interests at the time the equity income was generated and at the time of the dividend payments. ATI’s ownership interest in WPL Transco is expected to increase as a result of future capital contributions to WPL Transco. Alliant Energy’s aggregate ownership percentage in ATC is not expected to change as a result of WPL Transco’s amended operating agreement.

(b) Cash Surrender Value of Life Insurance Policies - Various life insurance policies cover certain current and former employees and directors. At December 31, the cash surrender value of these investments was as follows (in millions):



	Alliant Energy		IPL		WPL
	2014	2013	2014	2013	2014	2013
Cash surrender value	$47.0	$46.5	$18.1	$17.3	$11.4	$12.3

Schedule of Equity Method Investments [Line Items]

Investments

INVESTMENTS

(a) Unconsolidated Equity Investments - Alliant Energy’s and WPL’s unconsolidated investments accounted for under the equity method of accounting are as follows (in millions):



	Ownership	Carrying Value at
	Interest at	December 31,				Equity (Income) / Loss
	December 31, 2014	2014		2013		2014			2013			2012
Alliant Energy
ATC (a)	16%		$286.5		$272.1		($41.9	)		($42.7	)		($41.3	)
Wisconsin River Power Company	50%	7.8		7.0		(0.9		)	(1.0		)	(0.8		)
Other	Various	2.3		2.3		2.4			—			0.8
			$296.6		$281.4		($40.4	)		($43.7	)		($41.3	)
WPL
ATC (a)	16%		$286.5		$272.1		($41.9	)		($42.7	)		($41.3	)
Wisconsin River Power Company	50%	7.8		7.0		(0.9		)	(1.0		)	(0.8		)
			$294.3		$279.1		($42.8	)		($43.7	)		($42.1	)


(a)	Alliant Energy and WPL have the ability to exercise significant influence over ATC’s financial and operating policies through their participation on ATC’s Board of Directors. Refer to Note 18 for information regarding related party transactions with ATC.

Summary aggregate financial information from the financial statements of these investments is as follows (in millions):



	Alliant Energy						WPL
	2014		2013		2012		2014		2013		2012
Operating revenues		$643		$634		$611		$643		$634		$611
Operating income	330		334		326		330		334		325
Net income	240		248		234		240		250		239
As of December 31:
Current assets	72		86				70		84
Non-current assets	3,773		3,553				3,747		3,527
Current liabilities	315		383				315		383
Non-current liabilities	1,871		1,682				1,870		1,681

WPL’s Noncontrolling Interest - Prior to 2014, WPL owned 100% of WPL Transco, which holds Alliant Energy’s investment in ATC. In January 2014, WPL Transco’s operating agreement was amended to allow ATI, a wholly-owned subsidiary of Resources, to become a member of WPL Transco in addition to WPL. In 2014, ATI began funding capital contributions that WPL Transco makes to ATC. As of December 31, 2014, WPL’s and ATI’s ownership interests in WPL Transco were approximately 95% and 5%, respectively. WPL continues to consolidate WPL Transco and as a result, ATI’s ownership interest in WPL Transco was recorded as a noncontrolling interest in total equity on WPL’s balance sheet as of December 31, 2014.

In 2014, WPL Transco’s equity income from ATC and ATC dividends received by WPL Transco were allocated between WPL and ATI based on their respective ownership interests at the time the equity income was generated and at the time of the dividend payments. ATI’s ownership interest in WPL Transco is expected to increase as a result of future capital contributions to WPL Transco. Alliant Energy’s aggregate ownership percentage in ATC is not expected to change as a result of WPL Transco’s amended operating agreement.

(b) Cash Surrender Value of Life Insurance Policies - Various life insurance policies cover certain current and former employees and directors. At December 31, the cash surrender value of these investments was as follows (in millions):



	Alliant Energy		IPL		WPL
	2014	2013	2014	2013	2014	2013
Cash surrender value	$47.0	$46.5	$18.1	$17.3	$11.4	$12.3