Receivables

9 Months Ended

Sep. 30, 2016

Receivables [Line Items]

Receivables

RECEIVABLES

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 2016, IPL extended through March 2018 the purchase commitment from the third party to which it sells its receivables. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. As of September 30, 2016, IPL sold $252.9 million of receivables to the third party, received $1.0 million in cash proceeds and recorded deferred proceeds of $239.7 million.

IPL’s maximum and average outstanding cash proceeds 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
	2016		2015		2016		2015
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)		$172.0		$137.0		$172.0		$137.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	112.3		41.2		91.5		62.1

For the three and nine months ended September 30, 2016 and 2015, IPL’s costs incurred related to the sales of accounts receivable program were not material.

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

	September 30, 2016		December 31, 2015
Customer accounts receivable		$172.9		$109.7
Unbilled utility revenues	79.8		71.3
Other receivables	0.2		0.1
Receivables sold to third party	252.9		181.1
Less: cash proceeds (a)	1.0		5.0
Deferred proceeds	251.9		176.1
Less: allowance for doubtful accounts	12.2		4.1
Fair value of deferred proceeds		$239.7		$172.0

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

As of September 30, 2016, outstanding receivables past due under the Receivables Agreement were $64.5 million. 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
	2016			2015		2016			2015
Collections reinvested in receivables		$499.7			$480.1		$1,362.1			$1,403.1
Write-offs (recoveries), net	(0.3		)	3.3		(0.6		)	6.8

In connection with the implementation of IPL’s new customer billing and information system in the first quarter of 2016, IPL postponed the write-off of customer bills, resulting in lower write-offs for the three and nine months ended September 30, 2016.

IPL [Member]

Receivables [Line Items]

Receivables

RECEIVABLES

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 2016, IPL extended through March 2018 the purchase commitment from the third party to which it sells its receivables. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. As of September 30, 2016, IPL sold $252.9 million of receivables to the third party, received $1.0 million in cash proceeds and recorded deferred proceeds of $239.7 million.

IPL’s maximum and average outstanding cash proceeds 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
	2016		2015		2016		2015
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)		$172.0		$137.0		$172.0		$137.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	112.3		41.2		91.5		62.1

For the three and nine months ended September 30, 2016 and 2015, IPL’s costs incurred related to the sales of accounts receivable program were not material.

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

	September 30, 2016		December 31, 2015
Customer accounts receivable		$172.9		$109.7
Unbilled utility revenues	79.8		71.3
Other receivables	0.2		0.1
Receivables sold to third party	252.9		181.1
Less: cash proceeds (a)	1.0		5.0
Deferred proceeds	251.9		176.1
Less: allowance for doubtful accounts	12.2		4.1
Fair value of deferred proceeds		$239.7		$172.0

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

As of September 30, 2016, outstanding receivables past due under the Receivables Agreement were $64.5 million. 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
	2016			2015		2016			2015
Collections reinvested in receivables		$499.7			$480.1		$1,362.1			$1,403.1
Write-offs (recoveries), net	(0.3		)	3.3		(0.6		)	6.8

In connection with the implementation of IPL’s new customer billing and information system in the first quarter of 2016, IPL postponed the write-off of customer bills, resulting in lower write-offs for the three and nine months ended September 30, 2016.