Receivables

9 Months Ended

Sep. 30, 2013

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

Receivables

RECEIVABLES

(a) Sales of Accounts Receivable - IPL maintains a Receivables 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. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In exchange for the receivables sold, IPL receives cash proceeds from the third-party financial institution and deferred proceeds recorded in “Accounts receivable” on Alliant Energy’s and IPL’s Condensed Consolidated Balance Sheets.

As of September 30, 2013 and December 31, 2012, IPL sold $229.8 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 and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2013	2012	2013	2012
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$155.0	$150.0	$170.0	$160.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	132.7	95.0	132.5	124.2
Costs incurred	0.3	0.4	1.0	1.1

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

	September 30, 2013	December 31, 2012
Customer accounts receivable	$158.8	$118.2
Unbilled utility revenues	70.9	77.4
Other receivables	0.1	2.8
Receivables sold	229.8	198.4
Less: cash proceeds (a)	140.0	130.0
Deferred proceeds	89.8	68.4
Less: allowance for doubtful accounts	2.9	1.6
Fair value of deferred proceeds	$86.9	$66.8
Outstanding receivables past due	$22.0	$16.1

(a) Changes in cash proceeds are presented 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 Receivables Agreement for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2013	2012	2013	2012
Collections reinvested in receivables	$481.1	$522.9	$1,407.4	$1,334.7
Credit losses, net of recoveries	3.9	3.0	7.8	7.3

Refer to Note 8(b) for discussion of IPL’s issuance of $250 million of senior debentures in October 2013. A portion of the proceeds from the issuance was used by IPL to reduce cash proceeds received from the third-party financial institution under its sales of accounts receivable program.

(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 during the nine months ended September 30, 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 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. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In exchange for the receivables sold, IPL receives cash proceeds from the third-party financial institution and deferred proceeds recorded in “Accounts receivable” on Alliant Energy’s and IPL’s Condensed Consolidated Balance Sheets.

As of September 30, 2013 and December 31, 2012, IPL sold $229.8 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 and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2013	2012	2013	2012
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$155.0	$150.0	$170.0	$160.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	132.7	95.0	132.5	124.2
Costs incurred	0.3	0.4	1.0	1.1

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

	September 30, 2013	December 31, 2012
Customer accounts receivable	$158.8	$118.2
Unbilled utility revenues	70.9	77.4
Other receivables	0.1	2.8
Receivables sold	229.8	198.4
Less: cash proceeds (a)	140.0	130.0
Deferred proceeds	89.8	68.4
Less: allowance for doubtful accounts	2.9	1.6
Fair value of deferred proceeds	$86.9	$66.8
Outstanding receivables past due	$22.0	$16.1

(a) Changes in cash proceeds are presented 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 Receivables Agreement for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2013	2012	2013	2012
Collections reinvested in receivables	$481.1	$522.9	$1,407.4	$1,334.7
Credit losses, net of recoveries	3.9	3.0	7.8	7.3

Refer to Note 8(b) for discussion of IPL’s issuance of $250 million of senior debentures in October 2013. A portion of the proceeds from the issuance was used by IPL to reduce cash proceeds received from the third-party financial institution under its sales of accounts receivable program.