Receivables

12 Months Ended

Dec. 31, 2013

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

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 through wholly-owned and consolidated special purpose entities. In March 2014, the purchase commitment from the third party to which it sells its receivables expires. IPL is currently pursuing the extension of the purchase commitment. IPL accounts for sales of receivables under the Receivables Agreement as transfers of financial assets. In exchange for the receivables sold, IPL receives cash proceeds from the third party (based on seasonal limits up to $180 million, including $150 million as of December 31, 2013), and deferred proceeds recorded in accounts receivable on Alliant Energy’s and IPL’s Consolidated Balance Sheets. IPL makes monthly payments to the third party of an amount that varies based on interest rates, the length of time the cash proceeds remain outstanding and the total amount under commitment by the third party. IPL has historically used proceeds from the sales of receivables to maintain flexibility in its capital structure, take advantage of favorable short-term rates and finance a portion of its cash needs.

Deferred proceeds are payable by the third party solely from the collections of the receivables, but only after paying any required expenses to the third party and the collection agent. Corporate Services acts as collection agent for the third party and receives a fee for collection services. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of any credit risk of the customers that generated the receivables. Therefore, the carrying amount of deferred proceeds, after being reduced by the allowance for doubtful accounts, approximates the fair value of the deferred proceeds due to the short-term nature of the collection period. The carrying amount of deferred proceeds represents IPL’s maximum exposure to loss related to the receivables sold.

As of December 31, 2013 and 2012, IPL sold $238.0 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, were as follows (in millions):



	2013	2012	2011
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$170.0	$160.0	$160.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	105.9	119.8	118.1
Costs incurred	1.1	1.4	1.5

As of December 31, the attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):



	2013	2012
Customer accounts receivable	$151.6	$118.2
Unbilled utility revenues	86.2	77.4
Other receivables	0.2	2.8
Receivables sold	238.0	198.4
Less: cash proceeds (a)	29.0	130.0
Deferred proceeds	209.0	68.4
Less: allowance for doubtful accounts	5.5	1.6
Fair value of deferred proceeds	$203.5	$66.8
Outstanding receivables past due	$21.5	$16.1


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

Refer to Note 9(b) for discussion of IPL’s issuance of $250.0 million of senior debentures in 2013. A portion of the proceeds from the issuance was used by IPL in 2013 to reduce cash proceeds received from the third party under its sales of accounts receivable program.

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



	2013	2012	2011
Collections reinvested in receivables	$1,880.8	$1,771.6	$1,795.7
Credit losses, net of recoveries	11.9	10.0	10.9

(b) Whiting Petroleum Tax Sharing Agreement - Prior to an IPO of Whiting Petroleum in 2003, Alliant Energy and Whiting Petroleum entered into a tax separation and indemnification agreement pursuant to which Alliant Energy and Whiting Petroleum made tax elections. These tax elections had the effect of increasing the tax basis of the assets of Whiting Petroleum’s consolidated tax group based on the sales price of Whiting Petroleum’s shares in the IPO. The increase in the tax basis of the assets was included in income in Alliant Energy’s U.S. federal income tax return for the calendar year 2003. Pursuant to the tax separation and indemnification agreement, Whiting Petroleum will be obligated to pay Resources 90% of any tax benefits realized annually due to the additional tax deductions from the increase in tax basis for years ending on or prior to December 31, 2013. Such tax benefits will generally be calculated by comparing Whiting Petroleum’s actual taxes to the taxes that would have been owed by Whiting Petroleum had the increase in basis not occurred. In 2014, Whiting Petroleum will be obligated to pay Resources the present value of the remaining tax benefits assuming all such tax benefits will be realized in future years. At the IPO closing date, Alliant Energy recorded a receivable from Whiting Petroleum based on the estimated present value of the payments expected from Whiting Petroleum. At December 31, the carrying values of this receivable were recorded on Alliant Energy’s Consolidated Balance Sheets as follows (in millions):



	2013		2012
Prepayments and other		$25		$2
Deferred charges and other	—		25
		$25		$27

(c) Advances for Customer Energy Efficiency Projects - WPL and IPL have historically offered energy efficiency programs to certain of their customers in Wisconsin and Minnesota, respectively. The energy efficiency programs have provided low-cost financing to help customers identify, purchase and install energy efficiency improvement projects. The customers repay WPL and IPL with monthly payments over a term up to 5 years. The advances for and collections of customer energy efficiency projects are presented as investing activities in the Consolidated Statements of Cash Flows. The current portion and non-current portion of outstanding advances for customer energy efficiency projects are recorded in “Accounts receivable - other” and “Deferred charges and other,” respectively, on the Consolidated Balance Sheets. At December 31, outstanding advances for customer energy efficiency projects were as follows (in millions):



	Alliant Energy				IPL				WPL
	2013		2012		2013		2012		2013		2012
Current portion		$8.2		$14.9		$0.4		$0.8		$7.8		$14.1
Non-current portion	7.3		13.0		0.2		0.6		7.1		12.4
		$15.5		$27.9		$0.6		$1.4		$14.9		$26.5

(d) Franklin County Wind Project Cash Grant - The ARRA provides incentives for wind projects placed into service between January 1, 2009 and December 31, 2012. In accordance with the ARRA, 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. Alliant Energy elected to record the anticipated cash grant as a reduction of the carrying value of the Franklin County wind project, which resulted in a decrease of $62 million in “Property, plant and equipment - Non-regulated Generation” on its Consolidated Balance Sheet in 2012. In 2013, Alliant Energy received the proceeds from the cash grant, resulting in a $62.4 million decrease in “Accounts receivable - other” on its Consolidated Balance Sheets in 2013. The grant proceeds received by Alliant Energy are presented in investing activities in Alliant Energy’s Consolidated Statements of Cash Flows. 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



	2013	2012	2011
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$170.0	$160.0	$160.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	105.9	119.8	118.1
Costs incurred	1.1	1.4	1.5

As of December 31, the attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):



	2013	2012
Customer accounts receivable	$151.6	$118.2
Unbilled utility revenues	86.2	77.4
Other receivables	0.2	2.8
Receivables sold	238.0	198.4
Less: cash proceeds (a)	29.0	130.0
Deferred proceeds	209.0	68.4
Less: allowance for doubtful accounts	5.5	1.6
Fair value of deferred proceeds	$203.5	$66.8
Outstanding receivables past due	$21.5	$16.1


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

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



	2013	2012	2011
Collections reinvested in receivables	$1,880.8	$1,771.6	$1,795.7
Credit losses, net of recoveries	11.9	10.0	10.9



	Alliant Energy				IPL				WPL
	2013		2012		2013		2012		2013		2012
Current portion		$8.2		$14.9		$0.4		$0.8		$7.8		$14.1
Non-current portion	7.3		13.0		0.2		0.6		7.1		12.4
		$15.5		$27.9		$0.6		$1.4		$14.9		$26.5

WPL [Member]

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

Receivables

RECEIVABLES



	Alliant Energy				IPL				WPL
	2013		2012		2013		2012		2013		2012
Current portion		$8.2		$14.9		$0.4		$0.8		$7.8		$14.1
Non-current portion	7.3		13.0		0.2		0.6		7.1		12.4
		$15.5		$27.9		$0.6		$1.4		$14.9		$26.5

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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