Discontinued Operations And Assets And Liabilities Held For Sale

9 Months Ended

Sep. 30, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations And Assets And Liabilities Held For Sale

DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE

In March 2011, Alliant Energy sold its Industrial Energy Applications, Inc. (IEA) business to narrow its strategic focus and risk profile and received net proceeds of $5 million. In June 2011, RMT sold its environmental business unit and received net proceeds of $12 million.

Alliant Energy is currently pursuing the disposal of the remainder of its RMT business in order to narrow its strategic focus and risk profile. Alliant Energy currently expects to complete the disposal of RMT in 2012. The RMT business qualified as assets and liabilities held for sale as of September 30, 2012.

The operating results of RMT and IEA have been separately classified and reported as discontinued operations in Alliant Energy’s Condensed Consolidated Statements of Income. A summary of the components of discontinued operations in Alliant Energy’s Condensed Consolidated Statements of Income for the three and nine months ended September 30 was as follows (in millions):

	Three Months					Nine Months
	2012		2011			2012			2011
Operating revenues		$94.5		$150.7			$243.0			$326.6
Operating expenses	91.7		175.0			246.6			346.0
Interest expense and other	0.2		(0.2		)	0.4			(0.1		)
Income (loss) before income taxes	2.6		(24.1		)	(4.0		)	(19.3		)
Income tax expense (benefit)	0.9		(9.2		)	(1.7		)	(6.7		)
Income (loss) from discontinued operations, net of tax		$1.7		($14.9	)		($2.3	)		($12.6	)

A summary of the assets and liabilities held for sale on Alliant Energy’s Condensed Consolidated Balance Sheets was as follows (in millions):

	September 30, 2012			December 31, 2011
Assets held for sale:
Property, plant and equipment, net		$—			$3.8
Current assets	51.1			115.5
Other assets	0.3			0.3
Total assets held for sale	51.4			119.6
Liabilities held for sale:
Current liabilities	66.0			62.0
Other long-term liabilities and deferred credits	0.1			0.1
Total liabilities held for sale	66.1			62.1
Net assets (liabilities) held for sale		($14.7	)		$57.5

A summary of the components of cash flows for discontinued operations for the nine months ended September 30 was as follows (in millions):

	2012			2011
Net cash flows from (used for) operating activities		$72.0			($79.5	)
Net cash flows from (used for) investing activities	(0.2		)	11.6
Net cash flows from (used for) financing activities (a)	(71.7		)	49.6

(a) Includes intercompany borrowings.