Receivables

3 Months Ended

Mar. 31, 2013

Accounts, Notes, Loans and Financing Receivable [Line Items]

Receivables

RECEIVABLES

(a) Sales of Accounts Receivable - IPL maintains a 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. In exchange for the receivables sold, IPL receives cash proceeds from the third-party financial institution (based on seasonal limits up to $180 million), and deferred proceeds recorded in “Accounts receivable” on Alliant Energy’s and IPL’s Condensed Consolidated Balance Sheets.

As of March 31, 2013 and December 31, 2012, IPL sold $224.1 million and $198.4 million aggregate amounts of receivables, respectively. IPL’s maximum and average outstanding cash proceeds, and costs incurred related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions):

	2013	2012
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$170.0	$160.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	139.2	143.0
Costs incurred	0.3	0.4

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

	March 31, 2013	December 31, 2012
Customer accounts receivable	$155.9	$118.2
Unbilled utility revenues	68.1	77.4
Other receivables	0.1	2.8
Receivables sold	224.1	198.4
Less: cash proceeds (a)	100.0	130.0
Deferred proceeds	124.1	68.4
Less: allowance for doubtful accounts	2.0	1.6
Fair value of deferred proceeds	$122.1	$66.8
Outstanding receivables past due	$21.0	$16.1

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

Additional attributes of IPL’s receivables sold under the Agreement for the three months ended March 31 were as follows (in millions):

	2013	2012
Collections reinvested in receivables	$491.3	$442.3
Credit losses, net of recoveries	1.9	2.1

(b) Franklin County Wind Project Cash Grant - In accordance with the American Recovery and Reinvestment Act of 2009, Alliant Energy filed an application with the U.S. Department of the Treasury in February 2013 requesting a cash grant for a portion of the qualifying project expenditures of the Franklin County wind project that was placed into service in December 2012. In March 2013, Alliant Energy received the proceeds from the cash grant, resulting in a $62.4 million decrease in “Accounts receivable - other” on its Condensed Consolidated Balance Sheets in the first quarter of 2013. The grant proceeds were used by Alliant Energy to reduce short-term borrowings incurred during the construction of the wind project.

IPL [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Receivables

RECEIVABLES

(a) Sales of Accounts Receivable - IPL maintains a 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. In exchange for the receivables sold, IPL receives cash proceeds from the third-party financial institution (based on seasonal limits up to $180 million), and deferred proceeds recorded in “Accounts receivable” on Alliant Energy’s and IPL’s Condensed Consolidated Balance Sheets.

As of March 31, 2013 and December 31, 2012, IPL sold $224.1 million and $198.4 million aggregate amounts of receivables, respectively. IPL’s maximum and average outstanding cash proceeds, and costs incurred related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions):

	2013	2012
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$170.0	$160.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	139.2	143.0
Costs incurred	0.3	0.4

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

	March 31, 2013	December 31, 2012
Customer accounts receivable	$155.9	$118.2
Unbilled utility revenues	68.1	77.4
Other receivables	0.1	2.8
Receivables sold	224.1	198.4
Less: cash proceeds (a)	100.0	130.0
Deferred proceeds	124.1	68.4
Less: allowance for doubtful accounts	2.0	1.6
Fair value of deferred proceeds	$122.1	$66.8
Outstanding receivables past due	$21.0	$16.1

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

Additional attributes of IPL’s receivables sold under the Agreement for the three months ended March 31 were as follows (in millions):

	2013	2012
Collections reinvested in receivables	$491.3	$442.3
Credit losses, net of recoveries	1.9	2.1