-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WlS2an+2ioAzoqoPTt9LyW8x9FhcW+VD0ekwp3qb6NMpd/TLNPq68rK521n5Q8T6 iSMbZu8M6L6/cSG1dNDkmA== 0000897069-00-000217.txt : 20000410 0000897069-00-000217.hdr.sgml : 20000410 ACCESSION NUMBER: 0000897069-00-000217 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000407 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000407 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLIANT ENERGY CORP CENTRAL INDEX KEY: 0000352541 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 391380265 STATE OF INCORPORATION: WI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-09894 FILM NUMBER: 596519 BUSINESS ADDRESS: STREET 1: 222 WEST WSHNGTON AVENUE CITY: MADISON STATE: WI ZIP: 53703 BUSINESS PHONE: 6082523110 MAIL ADDRESS: STREET 1: P O BOX 2568 CITY: MADISON STATE: WI ZIP: 53701-2568 FORMER COMPANY: FORMER CONFORMED NAME: INTERSTATE ENERGY CORP DATE OF NAME CHANGE: 19980427 FORMER COMPANY: FORMER CONFORMED NAME: WPL HOLDINGS INC DATE OF NAME CHANGE: 19920703 8-K 1 8-K CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ----------------------- Date of Report (Date of earliest event reported): April 7, 2000 Alliant Energy Corporation (Exact name of registrant as specified in its charter) Wisconsin 1-9894 39-1380265 - --------------- ---------------- ------------------- (State or other (Commission File (IRS Employer jurisdiction of Number) Identification No.) incorporation) 222 West Washington Avenue, Madison, Wisconsin 53703 ------------------------------------------------------------ (Address of principal executive offices, including zip code) (608) 252-3311 ------------------------------- (Registrant's telephone number) Item 5. Other Events. On April 7, 2000, Alliant Energy Corporation issued a press release announcing that it will incur a first quarter non-cash accounting charge. A copy of such press release is filed as Exhibit 99.1 and is incorporated by reference herein. Item 7. Financial Statements and Exhibits. 1. Not applicable. 2. Not applicable. 3. Exhibits. The following exhibits are being filed herewith: (99.1) Alliant Energy Corporation Press Release dated April 7, 2000. -2- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ALLIANT ENERGY CORPORATION Date: April 7, 2000 By: /s/ Daniel A. Doyle -------------------------------------- Daniel A. Doyle Vice President, Chief Accounting and Financial Planning Officer -3- ALLIANT ENERGY CORPORATION Exhibit Index to Current Report on Form 8-K Dated April 7, 2000 Exhibit Number (99.1) Alliant Energy Corporation Press Release dated April 7, 2000. -4- EX-99.1 2 PRESS RELEASE [GRAPHIC OMITTED][GRAPHIC OMITTED] Alliant Energy Worldwide Headquarters 222 W. Washington Ave. P.O. Box 192 Madison, WI 53701-0192 www.alliant-energy.com News Release - -------------------------------------------------------------------------------- Media Contact: David Giroux at (608) 252-3924 Finance Contact: Bob Rusch at (608) 252-3470 ALLIANT ENERGY ANNOUNCES FIRST QUARTER NON-CASH ACCOUNTING CHARGE MADISON, Wis.--Apr. 7, 2000--Alliant Energy Corporation (NYSE:LNT) today announced it will incur a non-cash charge to net income of approximately $25 million, or 31 cents per share, in the first quarter of 2000 to recognize an increase in the company's obligation relating to certain 30-year exchangeable senior notes it issued in February. The non-cash charge will not impact earnings from operations nor the company's ability to pay dividends and is required under generally accepted accounting principles that presently govern the accounting for the senior notes. The senior notes are exchangeable for cash based upon the value of McLeodUSA (McLeod) Class A common stock (Nasdaq:MCLD). Due to the exchange feature of the senior notes, any increase in the value of McLeod stock above $77.23 per share results in a corresponding increase in Alliant Energy's obligation under the senior notes. Current accounting principles do not allow the increases in market value of the company's McLeod holdings to be reflected in earnings, but require a charge against earnings to reflect the corresponding increase in Alliant Energy's obligation under the senior notes. Alliant Energy's holdings of McLeod will be reported at a value of $1.6 billion at March 31, 2000, compared to a cost of $28 million, based on 19 million shares held and a market closing price of $84.81. The non-cash charge of approximately $25 million is more than offset by the unrealized increase in value of Alliant Energy's investment in McLeod stock. The $402.5 million of exchangeable senior notes were issued with an interest rate of 7.25% through February 15, 2003 and 2.5% thereafter. The company will report the senior notes at a value of approximately $442 million at March 31, 2000. The amount payable upon maturity of the notes is generally the higher of: a) the original principal amount, as adjusted for any accrued interest or distributions on the common stock of McLeod; or b) the current market value of the shares of McLeod stock attributable to the exchangeable senior notes. The company is required to adopt SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities, no later than January 1, 2001, and is exploring various early adoption alternatives. Upon adoption of this new accounting principle, Alliant Energy will have a one-time option to designate a portion of its McLeod holdings as "trading" securities. This designation will allow the company to realize a significant one-time increase in income relating to the unrealized appreciation in value of such shares. The company expects that this income Alliant Energy-- First Quarter Earnings Charge April 7, 2000 Page 2 of 2 will more than offset any charges it incurs prior to, and in connection with, the adoption of SFAS No. 133 relating to changes in value of the senior notes. Further, the accounting under SFAS No. 133 will allow the company to reflect in earnings all future changes in the value of the shares of McLeod stock designated as trading, which will substantially offset the earnings impact of corresponding changes in the value of the senior notes. Alliant Energy Corp. is a growing energy-services provider with operations both domestically and internationally. Headquartered in Madison, Wis., Alliant Energy provides electric, natural gas, water and steam services to more than two million customers worldwide. Alliant Energy Resources, Inc., home of the company's non-utility businesses, has operations and investments throughout the United States as well as in Australia, Brazil, China, Mexico and New Zealand. # # # This press release includes forward-looking statements. These forward-looking statements can be identified as such because the context of the statement includes phrases such as "the company expects" or other words or phrases of similar import. Similarly, statements that describe future plans or strategies are also forward-looking statements. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those currently anticipated. Factors which could affect actual results include, but are not limited to, changes in the market value of the company's holdings in McLeodUSA, unanticipated delays in or issues arising in connection with the company's adoption of SFAS No. 133 and the impact of any future changes in accounting principles and practices on the company's financial condition or results of operations. These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. The forward-looking statements included herein are made as of the date hereof and Alliant Energy Corporation undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. -----END PRIVACY-ENHANCED MESSAGE-----