XML 171 R41.htm IDEA: XBRL DOCUMENT v2.4.1.9
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2014
Income Tax [Line Items]  
Schedule of Components of Income Tax Expense (Benefit)
The components of “Income tax expense (benefit)” in the income statements were as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Current tax expense (benefit):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal

$36.6

 

$4.4

 

($29.3
)
 

$11.3

 

$11.7

 

($7.7
)
 

$0.6

 

($5.7
)
 

$7.2

State
9.3

 
(3.6
)
 
11.6

 
3.4

 
(0.1
)
 
9.1

 
4.4

 
6.0

 
(0.9
)
IPL’s tax benefit riders
(56.7
)
 
(52.9
)
 
(48.3
)
 
(56.7
)
 
(52.9
)
 
(48.3
)
 

 

 

Deferred tax expense (benefit):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal
83.5

 
123.9

 
157.8

 
11.1

 
20.0

 
37.4

 
88.9

 
92.7

 
81.1

State
4.6

 
15.6

 
23.9

 
(6.2
)
 
(0.8
)
 
3.2

 
10.1

 
11.8

 
20.3

Production tax credits
(31.3
)
 
(31.0
)
 
(24.8
)
 
(14.0
)
 
(14.4
)
 
(12.5
)
 
(17.3
)
 
(16.6
)
 
(12.3
)
Investment tax credits
(1.6
)
 
(1.6
)
 
(1.7
)
 
(0.6
)
 
(0.6
)
 
(0.6
)
 
(1.0
)
 
(1.0
)
 
(1.1
)
Provision recorded as a change in uncertain tax positions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current

 

 
8.0

 

 

 
8.1

 

 

 
(0.1
)
Deferred

 
(0.4
)
 
(7.6
)
 

 

 
(8.2
)
 

 
(0.4
)
 
0.6

Provision recorded as a change in accrued interest
(0.1
)
 
(0.5
)
 
(0.2
)
 

 
(0.8
)
 
(0.3
)
 
(0.1
)
 
0.4

 
(0.2
)
 

$44.3

 

$53.9

 

$89.4

 

($51.7
)
 

($37.9
)
 

($19.8
)
 

$85.6

 

$87.2

 

$94.6

Schedule Of Effective Income Tax Rates
The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes.
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Statutory federal income tax rate
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
State income taxes, net of federal benefits
5.4

 
5.7

 
5.7

 
5.0

 
5.4

 
5.8

 
5.5

 
6.0

 
5.5

IPL’s tax benefit riders
(12.9
)
 
(12.1
)
 
(11.2
)
 
(39.6
)
 
(34.8
)
 
(37.0
)
 

 

 

Effect of rate-making on property-related differences
(7.5
)
 
(6.0
)
 
(5.0
)
 
(21.9
)
 
(15.9
)
 
(14.2
)
 
(0.7
)
 
(0.8
)
 
(1.1
)
Production tax credits
(7.1
)
 
(7.1
)
 
(5.8
)
 
(9.8
)
 
(9.5
)
 
(9.6
)
 
(6.5
)
 
(6.3
)
 
(4.7
)
Adjustment of prior period taxes
(1.3
)
 
(1.3
)
 

 
(3.5
)
 
(3.6
)
 
0.2

 
(0.1
)
 
(0.1
)
 
(0.3
)
State apportionment change due to announced sale of RMT

 

 
3.5

 

 

 
6.2

 

 

 
2.7

Other items, net
(1.5
)
 
(1.8
)
 
(1.4
)
 
(1.4
)
 
(1.5
)
 
(1.6
)
 
(1.1
)
 
(0.9
)
 
(0.8
)
Overall income tax rate
10.1
%
 
12.4
%
 
20.8
%
 
(36.2
%)
 
(24.9
%)
 
(15.2
%)
 
32.1
%
 
32.9
%
 
36.3
%
Production Tax Credits (Net Of State Tax Impacts)
Details regarding production tax credits (net of state tax impacts) related to various wind projects are as follows (dollars in millions):
 
End of Production
 
Nameplate
 
 
 
 
 
 
Tax Credit Generation
 
Capacity in MW
2014
 
2013
 
2012
Cedar Ridge (WPL)
December 2018
 
68

$4.0

 

$4.1

 

$4.0

Bent Tree (WPL)
February 2021
 
201
13.3

 
12.5

 
8.3

Subtotal (WPL)
 
 
 
17.3

 
16.6

 
12.3

Whispering Willow - East (IPL)
December 2019
 
200
14.0

 
14.4

 
12.5

 
 
 
 

$31.3

 

$31.0

 

$24.8

Schedule of Deferred Tax Assets and Liabilities
The deferred income tax (assets) and liabilities included on Alliant Energy’s balance sheets at December 31 arise from the following temporary differences (in millions):
 
2014
 
2013
 
Deferred
Deferred Tax
 
 
Deferred
Deferred Tax
 
Alliant Energy
Tax Assets
Liabilities
Net
 
Tax Assets
Liabilities
Net
Property

$—


$2,627.8


$2,627.8

 

$—


$2,316.3


$2,316.3

Investment in ATC

131.6

131.6

 

120.7

120.7

Net operating losses carryforwards - state
(45.7
)

(45.7
)
 
(35.3
)

(35.3
)
Regulatory liability - IPL’s tax benefit riders
(100.9
)

(100.9
)
 
(107.8
)

(107.8
)
Federal credit carryforwards
(201.0
)

(201.0
)
 
(167.8
)

(167.8
)
Net operating losses carryforwards - federal
(332.8
)

(332.8
)
 
(251.9
)

(251.9
)
Other
(88.1
)
180.1

92.0

 
(108.9
)
210.7

101.8

Subtotal

($768.5
)

$2,939.5


$2,171.0

 

($671.7
)

$2,647.7


$1,976.0

 
2014
 
2013
Current deferred tax assets

($150.1
)
 

($136.7
)
Non-current deferred tax liabilities
2,321.1

 
2,112.7

Total net deferred tax liabilities

$2,171.0

 

$1,976.0

Summary Of Tax Credit Carryforwards
At December 31, 2014, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (in millions):
Alliant Energy
Tax Carryforwards
 
Deferred
Tax Assets
 
Earliest
Expiration Date
Federal net operating losses

$970

 

$333

 
2029
State net operating losses (a)
881

 
46

 
2018
Federal tax credits
204

 
201

 
2022
 
 
 

$580

 
 
IPL
Tax Carryforwards
 
Deferred
Tax Assets
 
Earliest
Expiration Date
Federal net operating losses

$468

 

$161

 
2029
State net operating losses (b)
291

 
16

 
2018
Federal tax credits
69

 
68

 
2022
 
 
 

$245

 
 

WPL
Tax Carryforwards
 
Deferred
Tax Assets
 
Earliest
Expiration Date
Federal net operating losses

$376

 

$129

 
2029
State net operating losses (c)
171

 
9

 
2018
Federal tax credits
77

 
75

 
2022
 
 
 

$213

 
 


(a)
At December 31, 2014, Alliant Energy’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024.
(b)
At December 31, 2014, IPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024.
(c)
At December 31, 2014, WPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024.
Summary of Uncertain Tax Positions
A reconciliation of the beginning and ending amounts of uncertain tax positions, excluding interest, is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Balance, January 1

$—

 

$0.7

 

$23.5

 

$—

 

$—

 

$10.9

 

$—

 

$0.7

 

$12.6

Additions based on tax positions related to the current year

 

 
0.7

 

 

 

 

 

 
0.7

Reductions for tax positions of prior years (a)

 
(0.7
)
 
(23.5
)
 

 

 
(10.9
)
 

 
(0.7
)
 
(12.6
)
Balance, December 31

$—

 

$—

 

$0.7

 

$—

 

$—

 

$—

 

$—

 

$—

 

$0.7



(a)
In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energy’s federal income tax return audits for calendar years 2005 through 2009.
Schedule Of Open Tax Years
Open tax years - Tax years that remain subject to the statute of limitations in the major jurisdictions are as follows:
 
Alliant Energy
 
IPL
 
WPL
Consolidated federal income tax returns (a)
2011
-
2013
 
2011
-
2013
 
2011
-
2013
Consolidated Iowa income tax returns (b)
2011
-
2013
 
2011
-
2013
 
2011
-
2013
Wisconsin combined tax returns (c)
2010
-
2013
 
2010
-
2013
 
2010
-
2013

(a)
These federal tax returns are effectively settled as a result of participation in the IRS Compliance Assurance Program, which allows Alliant Energy and the IRS to work together to resolve issues related to Alliant Energy’s current tax year before filing its federal income tax return. The statute of limitations for these federal tax returns expires three years from each filing date.
(b)
The statute of limitations for these Iowa tax returns expires three years from each filing date.
(c)
The statute of limitations for these Wisconsin combined tax returns expires four years from each filing date.

IPL [Member]  
Income Tax [Line Items]  
Schedule of Components of Income Tax Expense (Benefit)
The components of “Income tax expense (benefit)” in the income statements were as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Current tax expense (benefit):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal

$36.6

 

$4.4

 

($29.3
)
 

$11.3

 

$11.7

 

($7.7
)
 

$0.6

 

($5.7
)
 

$7.2

State
9.3

 
(3.6
)
 
11.6

 
3.4

 
(0.1
)
 
9.1

 
4.4

 
6.0

 
(0.9
)
IPL’s tax benefit riders
(56.7
)
 
(52.9
)
 
(48.3
)
 
(56.7
)
 
(52.9
)
 
(48.3
)
 

 

 

Deferred tax expense (benefit):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal
83.5

 
123.9

 
157.8

 
11.1

 
20.0

 
37.4

 
88.9

 
92.7

 
81.1

State
4.6

 
15.6

 
23.9

 
(6.2
)
 
(0.8
)
 
3.2

 
10.1

 
11.8

 
20.3

Production tax credits
(31.3
)
 
(31.0
)
 
(24.8
)
 
(14.0
)
 
(14.4
)
 
(12.5
)
 
(17.3
)
 
(16.6
)
 
(12.3
)
Investment tax credits
(1.6
)
 
(1.6
)
 
(1.7
)
 
(0.6
)
 
(0.6
)
 
(0.6
)
 
(1.0
)
 
(1.0
)
 
(1.1
)
Provision recorded as a change in uncertain tax positions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current

 

 
8.0

 

 

 
8.1

 

 

 
(0.1
)
Deferred

 
(0.4
)
 
(7.6
)
 

 

 
(8.2
)
 

 
(0.4
)
 
0.6

Provision recorded as a change in accrued interest
(0.1
)
 
(0.5
)
 
(0.2
)
 

 
(0.8
)
 
(0.3
)
 
(0.1
)
 
0.4

 
(0.2
)
 

$44.3

 

$53.9

 

$89.4

 

($51.7
)
 

($37.9
)
 

($19.8
)
 

$85.6

 

$87.2

 

$94.6

Schedule Of Effective Income Tax Rates
The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes.
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Statutory federal income tax rate
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
State income taxes, net of federal benefits
5.4

 
5.7

 
5.7

 
5.0

 
5.4

 
5.8

 
5.5

 
6.0

 
5.5

IPL’s tax benefit riders
(12.9
)
 
(12.1
)
 
(11.2
)
 
(39.6
)
 
(34.8
)
 
(37.0
)
 

 

 

Effect of rate-making on property-related differences
(7.5
)
 
(6.0
)
 
(5.0
)
 
(21.9
)
 
(15.9
)
 
(14.2
)
 
(0.7
)
 
(0.8
)
 
(1.1
)
Production tax credits
(7.1
)
 
(7.1
)
 
(5.8
)
 
(9.8
)
 
(9.5
)
 
(9.6
)
 
(6.5
)
 
(6.3
)
 
(4.7
)
Adjustment of prior period taxes
(1.3
)
 
(1.3
)
 

 
(3.5
)
 
(3.6
)
 
0.2

 
(0.1
)
 
(0.1
)
 
(0.3
)
State apportionment change due to announced sale of RMT

 

 
3.5

 

 

 
6.2

 

 

 
2.7

Other items, net
(1.5
)
 
(1.8
)
 
(1.4
)
 
(1.4
)
 
(1.5
)
 
(1.6
)
 
(1.1
)
 
(0.9
)
 
(0.8
)
Overall income tax rate
10.1
%
 
12.4
%
 
20.8
%
 
(36.2
%)
 
(24.9
%)
 
(15.2
%)
 
32.1
%
 
32.9
%
 
36.3
%
Production Tax Credits (Net Of State Tax Impacts)
Details regarding production tax credits (net of state tax impacts) related to various wind projects are as follows (dollars in millions):
 
End of Production
 
Nameplate
 
 
 
 
 
 
Tax Credit Generation
 
Capacity in MW
2014
 
2013
 
2012
Cedar Ridge (WPL)
December 2018
 
68

$4.0

 

$4.1

 

$4.0

Bent Tree (WPL)
February 2021
 
201
13.3

 
12.5

 
8.3

Subtotal (WPL)
 
 
 
17.3

 
16.6

 
12.3

Whispering Willow - East (IPL)
December 2019
 
200
14.0

 
14.4

 
12.5

 
 
 
 

$31.3

 

$31.0

 

$24.8

Schedule of Deferred Tax Assets and Liabilities
The deferred income tax (assets) and liabilities included on IPL’s balance sheets at December 31 arise from the following temporary differences (in millions):
 
2014
 
2013
 
Deferred
Deferred Tax
 
 
Deferred
Deferred Tax
 
IPL
Tax Assets
Liabilities
Net
 
Tax Assets
Liabilities
Net
Property

$—


$1,531.0


$1,531.0

 

$—


$1,338.1


$1,338.1

Federal credit carryforwards
(67.7
)

(67.7
)
 
(52.9
)

(52.9
)
Regulatory liability - tax benefit riders
(100.9
)

(100.9
)
 
(107.8
)

(107.8
)
Net operating losses carryforwards - federal
(160.6
)

(160.6
)
 
(111.3
)

(111.3
)
Other
(47.2
)
81.9

34.7

 
(64.0
)
103.2

39.2

 

($376.4
)

$1,612.9


$1,236.5

 

($336.0
)

$1,441.3


$1,105.3

 
2014
 
2013
Current deferred tax assets

($104.9
)
 

($87.7
)
Non-current deferred tax liabilities
1,341.4

 
1,193.0

Total net deferred tax liabilities

$1,236.5

 

$1,105.3

Summary Of Tax Credit Carryforwards
At December 31, 2014, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (in millions):
Alliant Energy
Tax Carryforwards
 
Deferred
Tax Assets
 
Earliest
Expiration Date
Federal net operating losses

$970

 

$333

 
2029
State net operating losses (a)
881

 
46

 
2018
Federal tax credits
204

 
201

 
2022
 
 
 

$580

 
 
IPL
Tax Carryforwards
 
Deferred
Tax Assets
 
Earliest
Expiration Date
Federal net operating losses

$468

 

$161

 
2029
State net operating losses (b)
291

 
16

 
2018
Federal tax credits
69

 
68

 
2022
 
 
 

$245

 
 

WPL
Tax Carryforwards
 
Deferred
Tax Assets
 
Earliest
Expiration Date
Federal net operating losses

$376

 

$129

 
2029
State net operating losses (c)
171

 
9

 
2018
Federal tax credits
77

 
75

 
2022
 
 
 

$213

 
 


(a)
At December 31, 2014, Alliant Energy’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024.
(b)
At December 31, 2014, IPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024.
(c)
At December 31, 2014, WPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024.
Summary of Uncertain Tax Positions
A reconciliation of the beginning and ending amounts of uncertain tax positions, excluding interest, is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Balance, January 1

$—

 

$0.7

 

$23.5

 

$—

 

$—

 

$10.9

 

$—

 

$0.7

 

$12.6

Additions based on tax positions related to the current year

 

 
0.7

 

 

 

 

 

 
0.7

Reductions for tax positions of prior years (a)

 
(0.7
)
 
(23.5
)
 

 

 
(10.9
)
 

 
(0.7
)
 
(12.6
)
Balance, December 31

$—

 

$—

 

$0.7

 

$—

 

$—

 

$—

 

$—

 

$—

 

$0.7



(a)
In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energy’s federal income tax return audits for calendar years 2005 through 2009.
Schedule Of Open Tax Years
Open tax years - Tax years that remain subject to the statute of limitations in the major jurisdictions are as follows:
 
Alliant Energy
 
IPL
 
WPL
Consolidated federal income tax returns (a)
2011
-
2013
 
2011
-
2013
 
2011
-
2013
Consolidated Iowa income tax returns (b)
2011
-
2013
 
2011
-
2013
 
2011
-
2013
Wisconsin combined tax returns (c)
2010
-
2013
 
2010
-
2013
 
2010
-
2013

(a)
These federal tax returns are effectively settled as a result of participation in the IRS Compliance Assurance Program, which allows Alliant Energy and the IRS to work together to resolve issues related to Alliant Energy’s current tax year before filing its federal income tax return. The statute of limitations for these federal tax returns expires three years from each filing date.
(b)
The statute of limitations for these Iowa tax returns expires three years from each filing date.
(c)
The statute of limitations for these Wisconsin combined tax returns expires four years from each filing date.

WPL [Member]  
Income Tax [Line Items]  
Schedule of Components of Income Tax Expense (Benefit)
The components of “Income tax expense (benefit)” in the income statements were as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Current tax expense (benefit):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal

$36.6

 

$4.4

 

($29.3
)
 

$11.3

 

$11.7

 

($7.7
)
 

$0.6

 

($5.7
)
 

$7.2

State
9.3

 
(3.6
)
 
11.6

 
3.4

 
(0.1
)
 
9.1

 
4.4

 
6.0

 
(0.9
)
IPL’s tax benefit riders
(56.7
)
 
(52.9
)
 
(48.3
)
 
(56.7
)
 
(52.9
)
 
(48.3
)
 

 

 

Deferred tax expense (benefit):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal
83.5

 
123.9

 
157.8

 
11.1

 
20.0

 
37.4

 
88.9

 
92.7

 
81.1

State
4.6

 
15.6

 
23.9

 
(6.2
)
 
(0.8
)
 
3.2

 
10.1

 
11.8

 
20.3

Production tax credits
(31.3
)
 
(31.0
)
 
(24.8
)
 
(14.0
)
 
(14.4
)
 
(12.5
)
 
(17.3
)
 
(16.6
)
 
(12.3
)
Investment tax credits
(1.6
)
 
(1.6
)
 
(1.7
)
 
(0.6
)
 
(0.6
)
 
(0.6
)
 
(1.0
)
 
(1.0
)
 
(1.1
)
Provision recorded as a change in uncertain tax positions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current

 

 
8.0

 

 

 
8.1

 

 

 
(0.1
)
Deferred

 
(0.4
)
 
(7.6
)
 

 

 
(8.2
)
 

 
(0.4
)
 
0.6

Provision recorded as a change in accrued interest
(0.1
)
 
(0.5
)
 
(0.2
)
 

 
(0.8
)
 
(0.3
)
 
(0.1
)
 
0.4

 
(0.2
)
 

$44.3

 

$53.9

 

$89.4

 

($51.7
)
 

($37.9
)
 

($19.8
)
 

$85.6

 

$87.2

 

$94.6

Schedule Of Effective Income Tax Rates
The overall income tax rates shown in the following table were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes.
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Statutory federal income tax rate
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
 
35.0
%
State income taxes, net of federal benefits
5.4

 
5.7

 
5.7

 
5.0

 
5.4

 
5.8

 
5.5

 
6.0

 
5.5

IPL’s tax benefit riders
(12.9
)
 
(12.1
)
 
(11.2
)
 
(39.6
)
 
(34.8
)
 
(37.0
)
 

 

 

Effect of rate-making on property-related differences
(7.5
)
 
(6.0
)
 
(5.0
)
 
(21.9
)
 
(15.9
)
 
(14.2
)
 
(0.7
)
 
(0.8
)
 
(1.1
)
Production tax credits
(7.1
)
 
(7.1
)
 
(5.8
)
 
(9.8
)
 
(9.5
)
 
(9.6
)
 
(6.5
)
 
(6.3
)
 
(4.7
)
Adjustment of prior period taxes
(1.3
)
 
(1.3
)
 

 
(3.5
)
 
(3.6
)
 
0.2

 
(0.1
)
 
(0.1
)
 
(0.3
)
State apportionment change due to announced sale of RMT

 

 
3.5

 

 

 
6.2

 

 

 
2.7

Other items, net
(1.5
)
 
(1.8
)
 
(1.4
)
 
(1.4
)
 
(1.5
)
 
(1.6
)
 
(1.1
)
 
(0.9
)
 
(0.8
)
Overall income tax rate
10.1
%
 
12.4
%
 
20.8
%
 
(36.2
%)
 
(24.9
%)
 
(15.2
%)
 
32.1
%
 
32.9
%
 
36.3
%
Production Tax Credits (Net Of State Tax Impacts)
Details regarding production tax credits (net of state tax impacts) related to various wind projects are as follows (dollars in millions):
 
End of Production
 
Nameplate
 
 
 
 
 
 
Tax Credit Generation
 
Capacity in MW
2014
 
2013
 
2012
Cedar Ridge (WPL)
December 2018
 
68

$4.0

 

$4.1

 

$4.0

Bent Tree (WPL)
February 2021
 
201
13.3

 
12.5

 
8.3

Subtotal (WPL)
 
 
 
17.3

 
16.6

 
12.3

Whispering Willow - East (IPL)
December 2019
 
200
14.0

 
14.4

 
12.5

 
 
 
 

$31.3

 

$31.0

 

$24.8

Schedule of Deferred Tax Assets and Liabilities
The deferred income tax (assets) and liabilities included on WPL’s balance sheets at December 31 arise from the following temporary differences (in millions):
 
2014
 
2013
 
Deferred
Deferred Tax
 
 
Deferred
Deferred Tax
 
WPL
Tax Assets
Liabilities
Net
 
Tax Assets
Liabilities
Net
Property

$—


$964.4


$964.4

 

$—


$859.1


$859.1

Investment in ATC

131.6

131.6

 

120.7

120.7

Federal credit carryforwards
(75.2
)

(75.2
)
 
(57.1
)

(57.1
)
Net operating losses carryforwards - federal
(128.9
)

(128.9
)
 
(106.9
)

(106.9
)
Other
(40.3
)
80.9

40.6

 
(37.6
)
75.6

38.0

 

($244.4
)

$1,176.9


$932.5

 

($201.6
)

$1,055.4


$853.8

 
2014
 
2013
Current deferred tax assets

($37.5
)
 

($43.3
)
Non-current deferred tax liabilities
970.0

 
897.1

Total net deferred tax liabilities

$932.5

 

$853.8

Summary Of Tax Credit Carryforwards
At December 31, 2014, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (in millions):
Alliant Energy
Tax Carryforwards
 
Deferred
Tax Assets
 
Earliest
Expiration Date
Federal net operating losses

$970

 

$333

 
2029
State net operating losses (a)
881

 
46

 
2018
Federal tax credits
204

 
201

 
2022
 
 
 

$580

 
 
IPL
Tax Carryforwards
 
Deferred
Tax Assets
 
Earliest
Expiration Date
Federal net operating losses

$468

 

$161

 
2029
State net operating losses (b)
291

 
16

 
2018
Federal tax credits
69

 
68

 
2022
 
 
 

$245

 
 

WPL
Tax Carryforwards
 
Deferred
Tax Assets
 
Earliest
Expiration Date
Federal net operating losses

$376

 

$129

 
2029
State net operating losses (c)
171

 
9

 
2018
Federal tax credits
77

 
75

 
2022
 
 
 

$213

 
 


(a)
At December 31, 2014, Alliant Energy’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2033 with 98% expiring after 2024.
(b)
At December 31, 2014, IPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 96% expiring after 2024.
(c)
At December 31, 2014, WPL’s state net operating losses carryforwards had expiration dates ranging from 2018 to 2031 with 99% expiring after 2024.
Summary of Uncertain Tax Positions
A reconciliation of the beginning and ending amounts of uncertain tax positions, excluding interest, is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Balance, January 1

$—

 

$0.7

 

$23.5

 

$—

 

$—

 

$10.9

 

$—

 

$0.7

 

$12.6

Additions based on tax positions related to the current year

 

 
0.7

 

 

 

 

 

 
0.7

Reductions for tax positions of prior years (a)

 
(0.7
)
 
(23.5
)
 

 

 
(10.9
)
 

 
(0.7
)
 
(12.6
)
Balance, December 31

$—

 

$—

 

$0.7

 

$—

 

$—

 

$—

 

$—

 

$—

 

$0.7



(a)
In 2012, the reductions for tax positions of prior years were due to the finalization of Alliant Energy’s federal income tax return audits for calendar years 2005 through 2009.

Schedule Of Open Tax Years
Open tax years - Tax years that remain subject to the statute of limitations in the major jurisdictions are as follows:
 
Alliant Energy
 
IPL
 
WPL
Consolidated federal income tax returns (a)
2011
-
2013
 
2011
-
2013
 
2011
-
2013
Consolidated Iowa income tax returns (b)
2011
-
2013
 
2011
-
2013
 
2011
-
2013
Wisconsin combined tax returns (c)
2010
-
2013
 
2010
-
2013
 
2010
-
2013

(a)
These federal tax returns are effectively settled as a result of participation in the IRS Compliance Assurance Program, which allows Alliant Energy and the IRS to work together to resolve issues related to Alliant Energy’s current tax year before filing its federal income tax return. The statute of limitations for these federal tax returns expires three years from each filing date.
(b)
The statute of limitations for these Iowa tax returns expires three years from each filing date.
(c)
The statute of limitations for these Wisconsin combined tax returns expires four years from each filing date.