Discontinued Operations and Assets and Liabilities Held For Sale

12 Months Ended

Dec. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE

In 2011, Alliant Energy sold its IEA business to narrow its strategic focus and risk profile and received net proceeds of $5 million. In 2011, RMT sold its environmental business unit and received net proceeds of $12 million. In January 2013, Alliant Energy sold the remainder of its RMT business in order to narrow its strategic focus and risk profile. The final gain or loss from the sale of RMT is subject to a working capital adjustment and potential contingent consideration. Alliant Energy does not currently believe the final gain or loss related to the sale of RMT will be material. The RMT business qualified as assets and liabilities held for sale as of December 31, 2012.

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

	2012			2011			2010
Operating revenues		$289.2			$445.0			$160.3
Operating expenses	297.0			476.9			166.8
Interest expense and other	0.7			—			1.0
Loss before income taxes	(8.5		)	(31.9		)	(7.5		)
Income tax benefit	(3.4		)	(12.4		)	(3.6		)
Loss from discontinued operations, net of tax		($5.1	)		($19.5	)		($3.9	)

A summary of the assets and liabilities held for sale on Alliant Energy’s Consolidated Balance Sheets as of December 31 was as follows (in millions):

	2012			2011
Assets held for sale:
Property, plant and equipment, net		$—			$3.8
Current assets	27.9			115.5
Other assets	—			0.3
Total assets held for sale	27.9			119.6
Liabilities held for sale:
Current liabilities	31.4			62.0
Other long-term liabilities and deferred credits	—			0.1
Total liabilities held for sale	31.4			62.1
Net assets (liabilities) held for sale		($3.5	)		$57.5

Based on the terms of the January 2013 sale of RMT, the fair value of the business, less costs to sell, was not less than the carrying amount.