Derivative Instruments

9 Months Ended

Sep. 30, 2014

Derivative Instruments [Line Items]

Derivative Instruments

DERIVATIVE INSTRUMENTS

Commodity Derivatives -

Purpose - Derivative instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. Refer to Note 12 for detailed discussion of derivative instruments.

Notional Amounts - As of September 30, 2014, gross notional amounts by delivery year related to outstanding swap contracts, option contracts, physical forward contracts, FTRs and coal contracts that were accounted for as commodity derivative instruments were as follows (units in thousands):

	2014	2015	2016	2017	2018	Total
Alliant Energy
Electricity (MWhs)	2,092	3,946	1,553	1,314	1,314	10,219
FTRs (MWhs)	5,673	9,560	—	—	—	15,233
Natural gas (Dths)	25,806	36,532	8,805	218	—	71,361
Coal (tons)	836	1,490	1,899	1,073	1,113	6,411
IPL
Electricity (MWhs)	1,046	1,678	—	—	—	2,724
FTRs (MWhs)	3,340	5,558	—	—	—	8,898
Natural gas (Dths)	17,823	25,776	3,862	218	—	47,679
Coal (tons)	266	75	830	274	387	1,832
WPL
Electricity (MWhs)	1,046	2,268	1,553	1,314	1,314	7,495
FTRs (MWhs)	2,333	4,002	—	—	—	6,335
Natural gas (Dths)	7,983	10,756	4,943	—	—	23,682
Coal (tons)	570	1,415	1,069	799	726	4,579

Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheet as assets or liabilities. The fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other long-term liabilities and deferred credits” on the balance sheets as follows (in millions):

	Alliant Energy				IPL				WPL
Commodity contracts	September 30, 2014		December 31, 2013		September 30, 2014		December 31, 2013		September 30, 2014		December 31, 2013
Current derivative assets		$63.9		$25.6		$44.0		$20.2		$19.9		$5.4
Non-current derivative assets	19.2		1.1		0.7		0.9		18.5		0.2
Current derivative liabilities	9.0		6.7		5.2		3.0		3.8		3.7
Non-current derivative liabilities	5.1		14.1		3.0		2.2		2.1		11.9

Changes in unrealized gains (losses) from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets as follows (in millions):

	Alliant Energy						IPL						WPL
	2014			2013			2014			2013			2014			2013
Three Months Ended September 30
Regulatory assets		$8.3			$2.2			$7.3			($0.4	)		$1.0			$2.6
Regulatory liabilities	(6.2		)	(1.0		)	(2.0		)	3.6			(4.2		)	(4.6		)
Nine Months Ended September 30
Regulatory assets	13.8			(14.2		)	8.7			(4.6		)	5.1			(9.6		)
Regulatory liabilities	63.2			16.6			13.9			9.9			49.3			6.7

Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. The aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position, as well as amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered, were as follows (in millions):

	September 30, 2014						December 31, 2013
	Alliant Energy		IPL		WPL		Alliant Energy		IPL		WPL
Aggregate fair value		$14.1		$8.2		$5.9		$20.8		$5.2		$15.6
Credit support to be posted if triggered	13.9		8.2		5.7		20.8		5.2		15.6

Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy				IPL				WPL
	Gross				Gross				Gross
	(as reported)		Net		(as reported)		Net		(as reported)		Net
September 30, 2014
Derivative assets		$83.1		$72.2		$44.7		$39.8		$38.4		$32.4
Derivative liabilities	14.1		7.9		8.2		3.6		5.9		4.3
December 31, 2013
Derivative assets	26.7		23.5		21.1		19.5		5.6		4.0
Derivative liabilities	20.8		17.6		5.2		3.6		15.6		14.0

Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. As of September 30, 2014, Alliant Energy’s, IPL’s and WPL’s net derivative assets in the above table have been reduced by $4.7 million, $0.3 million and $4.4 million, respectively, due to cash collateral posted by counterparties.

IPL [Member]

Derivative Instruments [Line Items]

Derivative Instruments

DERIVATIVE INSTRUMENTS

Commodity Derivatives -

Purpose - Derivative instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. Refer to Note 12 for detailed discussion of derivative instruments.

Notional Amounts - As of September 30, 2014, gross notional amounts by delivery year related to outstanding swap contracts, option contracts, physical forward contracts, FTRs and coal contracts that were accounted for as commodity derivative instruments were as follows (units in thousands):

	2014	2015	2016	2017	2018	Total
Alliant Energy
Electricity (MWhs)	2,092	3,946	1,553	1,314	1,314	10,219
FTRs (MWhs)	5,673	9,560	—	—	—	15,233
Natural gas (Dths)	25,806	36,532	8,805	218	—	71,361
Coal (tons)	836	1,490	1,899	1,073	1,113	6,411
IPL
Electricity (MWhs)	1,046	1,678	—	—	—	2,724
FTRs (MWhs)	3,340	5,558	—	—	—	8,898
Natural gas (Dths)	17,823	25,776	3,862	218	—	47,679
Coal (tons)	266	75	830	274	387	1,832
WPL
Electricity (MWhs)	1,046	2,268	1,553	1,314	1,314	7,495
FTRs (MWhs)	2,333	4,002	—	—	—	6,335
Natural gas (Dths)	7,983	10,756	4,943	—	—	23,682
Coal (tons)	570	1,415	1,069	799	726	4,579

Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheet as assets or liabilities. The fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other long-term liabilities and deferred credits” on the balance sheets as follows (in millions):

	Alliant Energy				IPL				WPL
Commodity contracts	September 30, 2014		December 31, 2013		September 30, 2014		December 31, 2013		September 30, 2014		December 31, 2013
Current derivative assets		$63.9		$25.6		$44.0		$20.2		$19.9		$5.4
Non-current derivative assets	19.2		1.1		0.7		0.9		18.5		0.2
Current derivative liabilities	9.0		6.7		5.2		3.0		3.8		3.7
Non-current derivative liabilities	5.1		14.1		3.0		2.2		2.1		11.9

Changes in unrealized gains (losses) from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets as follows (in millions):

	Alliant Energy						IPL						WPL
	2014			2013			2014			2013			2014			2013
Three Months Ended September 30
Regulatory assets		$8.3			$2.2			$7.3			($0.4	)		$1.0			$2.6
Regulatory liabilities	(6.2		)	(1.0		)	(2.0		)	3.6			(4.2		)	(4.6		)
Nine Months Ended September 30
Regulatory assets	13.8			(14.2		)	8.7			(4.6		)	5.1			(9.6		)
Regulatory liabilities	63.2			16.6			13.9			9.9			49.3			6.7

Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. The aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position, as well as amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered, were as follows (in millions):

	September 30, 2014						December 31, 2013
	Alliant Energy		IPL		WPL		Alliant Energy		IPL		WPL
Aggregate fair value		$14.1		$8.2		$5.9		$20.8		$5.2		$15.6
Credit support to be posted if triggered	13.9		8.2		5.7		20.8		5.2		15.6

Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy				IPL				WPL
	Gross				Gross				Gross
	(as reported)		Net		(as reported)		Net		(as reported)		Net
September 30, 2014
Derivative assets		$83.1		$72.2		$44.7		$39.8		$38.4		$32.4
Derivative liabilities	14.1		7.9		8.2		3.6		5.9		4.3
December 31, 2013
Derivative assets	26.7		23.5		21.1		19.5		5.6		4.0
Derivative liabilities	20.8		17.6		5.2		3.6		15.6		14.0

Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. As of September 30, 2014, Alliant Energy’s, IPL’s and WPL’s net derivative assets in the above table have been reduced by $4.7 million, $0.3 million and $4.4 million, respectively, due to cash collateral posted by counterparties.

WPL [Member]

Derivative Instruments [Line Items]

Derivative Instruments

DERIVATIVE INSTRUMENTS

Commodity Derivatives -

Purpose - Derivative instruments are periodically used for risk management purposes to mitigate exposures to fluctuations in certain commodity prices and transmission congestion costs. Refer to Note 12 for detailed discussion of derivative instruments.

Notional Amounts - As of September 30, 2014, gross notional amounts by delivery year related to outstanding swap contracts, option contracts, physical forward contracts, FTRs and coal contracts that were accounted for as commodity derivative instruments were as follows (units in thousands):

	2014	2015	2016	2017	2018	Total
Alliant Energy
Electricity (MWhs)	2,092	3,946	1,553	1,314	1,314	10,219
FTRs (MWhs)	5,673	9,560	—	—	—	15,233
Natural gas (Dths)	25,806	36,532	8,805	218	—	71,361
Coal (tons)	836	1,490	1,899	1,073	1,113	6,411
IPL
Electricity (MWhs)	1,046	1,678	—	—	—	2,724
FTRs (MWhs)	3,340	5,558	—	—	—	8,898
Natural gas (Dths)	17,823	25,776	3,862	218	—	47,679
Coal (tons)	266	75	830	274	387	1,832
WPL
Electricity (MWhs)	1,046	2,268	1,553	1,314	1,314	7,495
FTRs (MWhs)	2,333	4,002	—	—	—	6,335
Natural gas (Dths)	7,983	10,756	4,943	—	—	23,682
Coal (tons)	570	1,415	1,069	799	726	4,579

Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheet as assets or liabilities. The fair values of current derivative assets are included in “Other current assets,” non-current derivative assets are included in “Deferred charges and other,” current derivative liabilities are included in “Other current liabilities” and non-current derivative liabilities are included in “Other long-term liabilities and deferred credits” on the balance sheets as follows (in millions):

	Alliant Energy				IPL				WPL
Commodity contracts	September 30, 2014		December 31, 2013		September 30, 2014		December 31, 2013		September 30, 2014		December 31, 2013
Current derivative assets		$63.9		$25.6		$44.0		$20.2		$19.9		$5.4
Non-current derivative assets	19.2		1.1		0.7		0.9		18.5		0.2
Current derivative liabilities	9.0		6.7		5.2		3.0		3.8		3.7
Non-current derivative liabilities	5.1		14.1		3.0		2.2		2.1		11.9

Changes in unrealized gains (losses) from commodity derivative instruments were recorded with offsets to regulatory assets or regulatory liabilities on the balance sheets as follows (in millions):

	Alliant Energy						IPL						WPL
	2014			2013			2014			2013			2014			2013
Three Months Ended September 30
Regulatory assets		$8.3			$2.2			$7.3			($0.4	)		$1.0			$2.6
Regulatory liabilities	(6.2		)	(1.0		)	(2.0		)	3.6			(4.2		)	(4.6		)
Nine Months Ended September 30
Regulatory assets	13.8			(14.2		)	8.7			(4.6		)	5.1			(9.6		)
Regulatory liabilities	63.2			16.6			13.9			9.9			49.3			6.7

Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. The aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position, as well as amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered, were as follows (in millions):

	September 30, 2014						December 31, 2013
	Alliant Energy		IPL		WPL		Alliant Energy		IPL		WPL
Aggregate fair value		$14.1		$8.2		$5.9		$20.8		$5.2		$15.6
Credit support to be posted if triggered	13.9		8.2		5.7		20.8		5.2		15.6

Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy				IPL				WPL
	Gross				Gross				Gross
	(as reported)		Net		(as reported)		Net		(as reported)		Net
September 30, 2014
Derivative assets		$83.1		$72.2		$44.7		$39.8		$38.4		$32.4
Derivative liabilities	14.1		7.9		8.2		3.6		5.9		4.3
December 31, 2013
Derivative assets	26.7		23.5		21.1		19.5		5.6		4.0
Derivative liabilities	20.8		17.6		5.2		3.6		15.6		14.0

Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. As of September 30, 2014, Alliant Energy’s, IPL’s and WPL’s net derivative assets in the above table have been reduced by $4.7 million, $0.3 million and $4.4 million, respectively, due to cash collateral posted by counterparties.