Receivables

12 Months Ended

Dec. 31, 2019

Accounts Receivable [Line Items]

Receivables

RECEIVABLES(a) Accounts Receivable - Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions):

	Alliant Energy						IPL						WPL
	2019			2018			2019			2018			2019			2018
Customer		$91.6			$91.0			$—			$—			$83.5			$84.8
Unbilled utility revenues	82.1			74.2			—			—			82.1			74.2
Deferred proceeds	187.7			119.4			187.7			119.4			—			—
Other	48.0			76.3			16.3			37.2			31.4			38.5
Allowance for doubtful accounts	(7.3		)	(10.5		)	(1.2		)	(3.1		)	(6.1		)	(7.4		)
		$402.1			$350.4			$202.8			$153.5			$190.9			$190.1

(b) 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. The purchase commitment from the third party to which it sells its receivables expires

in March 2021. IPL pays a monthly fee to the third party that varies based on interest rates, limits on cash proceeds and cash amounts received from the third party. Deferred proceeds represent IPL’s interest in the receivables sold to the third party. At IPL’s request, deferred proceeds are paid to IPL from collections of receivables, after paying any required expenses incurred by the third party and the collection agent. Corporate Services acts as collection agent for the third party and receives a fee for collection services. The Receivables Agreement can be terminated by the third party if arrears or write-offs exceed certain levels. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of credit risk of the customers that generated the receivables. Refer to Note 16 for discussion of the fair value of deferred proceeds.

Under the Receivables Agreement, IPL has the right to receive cash proceeds, up to a certain limit, from the third party in exchange for the receivables sold. The limit on cash proceeds fluctuates between $90 million and $110 million. Cash proceeds are used by IPL to meet short-term financing needs, and cannot exceed the current limit or amount of receivables available for sale, whichever is less. As of December 31, 2019, IPL had $83 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding aggregate cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program were as follows (in millions):

	Maximum			Average
	2019	2018	2017	2019	2018	2017
Outstanding aggregate cash proceeds	$108.0	$116.0	$112.0	$35.9	$53.4	$62.2

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

	2019	2018
Customer accounts receivable	$124.7	$140.1
Unbilled utility revenues	95.5	97.1
Other receivables	0.9	0.1
Receivables sold to third party	221.1	237.3
Less: cash proceeds	27.0	108.0
Deferred proceeds	194.1	129.3
Less: allowance for doubtful accounts	6.4	9.9
Fair value of deferred proceeds	$187.7	$119.4
Outstanding receivables past due	$26.0	$35.5

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

	2019	2018	2017
Collections	$2,192.8	$2,076.7	$1,647.1
Write-offs, net of recoveries	19.2	21.3	17.7

IPL [Member]

Accounts Receivable [Line Items]

Receivables

RECEIVABLES(a) Accounts Receivable - Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions):

	Alliant Energy						IPL						WPL
	2019			2018			2019			2018			2019			2018
Customer		$91.6			$91.0			$—			$—			$83.5			$84.8
Unbilled utility revenues	82.1			74.2			—			—			82.1			74.2
Deferred proceeds	187.7			119.4			187.7			119.4			—			—
Other	48.0			76.3			16.3			37.2			31.4			38.5
Allowance for doubtful accounts	(7.3		)	(10.5		)	(1.2		)	(3.1		)	(6.1		)	(7.4		)
		$402.1			$350.4			$202.8			$153.5			$190.9			$190.1

(b) 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. The purchase commitment from the third party to which it sells its receivables expires

in March 2021. IPL pays a monthly fee to the third party that varies based on interest rates, limits on cash proceeds and cash amounts received from the third party. Deferred proceeds represent IPL’s interest in the receivables sold to the third party. At IPL’s request, deferred proceeds are paid to IPL from collections of receivables, after paying any required expenses incurred by the third party and the collection agent. Corporate Services acts as collection agent for the third party and receives a fee for collection services. The Receivables Agreement can be terminated by the third party if arrears or write-offs exceed certain levels. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of credit risk of the customers that generated the receivables. Refer to Note 16 for discussion of the fair value of deferred proceeds.

Under the Receivables Agreement, IPL has the right to receive cash proceeds, up to a certain limit, from the third party in exchange for the receivables sold. The limit on cash proceeds fluctuates between $90 million and $110 million. Cash proceeds are used by IPL to meet short-term financing needs, and cannot exceed the current limit or amount of receivables available for sale, whichever is less. As of December 31, 2019, IPL had $83 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding aggregate cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program were as follows (in millions):

	Maximum			Average
	2019	2018	2017	2019	2018	2017
Outstanding aggregate cash proceeds	$108.0	$116.0	$112.0	$35.9	$53.4	$62.2

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

	2019	2018
Customer accounts receivable	$124.7	$140.1
Unbilled utility revenues	95.5	97.1
Other receivables	0.9	0.1
Receivables sold to third party	221.1	237.3
Less: cash proceeds	27.0	108.0
Deferred proceeds	194.1	129.3
Less: allowance for doubtful accounts	6.4	9.9
Fair value of deferred proceeds	$187.7	$119.4
Outstanding receivables past due	$26.0	$35.5

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

	2019	2018	2017
Collections	$2,192.8	$2,076.7	$1,647.1
Write-offs, net of recoveries	19.2	21.3	17.7

WPL [Member]

Accounts Receivable [Line Items]

Receivables

RECEIVABLES(a) Accounts Receivable - Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions):

	Alliant Energy						IPL						WPL
	2019			2018			2019			2018			2019			2018
Customer		$91.6			$91.0			$—			$—			$83.5			$84.8
Unbilled utility revenues	82.1			74.2			—			—			82.1			74.2
Deferred proceeds	187.7			119.4			187.7			119.4			—			—
Other	48.0			76.3			16.3			37.2			31.4			38.5
Allowance for doubtful accounts	(7.3		)	(10.5		)	(1.2		)	(3.1		)	(6.1		)	(7.4		)
		$402.1			$350.4			$202.8			$153.5			$190.9			$190.1