Income Taxes

6 Months Ended

Jun. 30, 2013

Income Tax [Line Items]

Income Taxes

INCOME TAXES

Income Tax Rates - The provision for income taxes for earnings from continuing operations is based on an estimated annual effective income tax rate that excludes the impact of significant unusual or infrequently occurring items, discontinued operations or extraordinary items. The effective income tax rates for Alliant Energy, IPL and WPL differ from the federal statutory rate of 35% generally due to effects of enacted tax legislation, utility rate-making, including IPL’s tax benefit riders, tax credits, state income taxes and certain non-deductible expenses. Changes in state apportionment rates caused by the planned sale of Alliant Energy’s RMT business also impacted the effective income tax rates for the six months ended June 30, 2012 for Alliant Energy, IPL and WPL. The effective income tax rates shown in the following table for the three and six months ended June 30 were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes.

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	13.3	%	19.5	%	13.0	%	28.3	%
IPL	(24.7	%)	(12.0	%)	(24.3	%)	22.6	%
WPL	33.1	%	34.6	%	32.5	%	39.4	%

State apportionment change due to planned sale of RMT - Alliant Energy, IPL and WPL utilize state apportionment projections to record their deferred tax assets and liabilities each reporting period. Deferred tax assets and liabilities for temporary differences between the tax basis of assets and liabilities and the amounts reported in the condensed consolidated financial statements are recorded utilizing currently enacted tax rates and estimates of future state apportionment rates expected to be in effect at the time the temporary differences reverse. These state apportionment projections are most significantly impacted by the estimated amount of revenues expected in the future from each state jurisdiction for Alliant Energy’s consolidated tax groups, including both its regulated and its non-regulated operations. In the first quarter of 2012, Alliant Energy, IPL and WPL recorded $15 million, $8 million and $7 million, respectively, of deferred income tax expense due to changes in state apportionment projections caused by the planned sale of Alliant Energy’s RMT business. These income tax expense amounts recognized during the first quarter of 2012 increased Alliant Energy’s, IPL’s and WPL’s effective income tax rates for continuing operations for the six months ended June 30, 2012 by 9.7%, 34.6% and 6.2%, respectively.

IPL’s tax benefit riders - Alliant Energy’s and IPL’s effective income tax rates include the impact of reducing income tax expense with offsetting reductions to regulatory liabilities as a result of implementing the tax benefit riders. The tax impacts of the tax benefit riders decreased Alliant Energy’s and IPL’s effective income tax rates for continuing operations for the three and six months ended June 30 as follows. Refer to Note 1(b) for additional details of IPL’s tax benefit riders.

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	(11.7	%)	(11.7	%)	(12.3	%)	(11.9	%)
IPL	(33.3	%)	(34.9	%)	(35.6	%)	(35.5	%)

Production tax credits - Alliant Energy has three wind projects that are currently generating production tax credits: WPL’s 68 MW Cedar Ridge wind project, which began generating electricity in late 2008; IPL’s 200 MW Whispering Willow - East wind project, which began generating electricity in late 2009; and WPL’s 200 MW Bent Tree - Phase I wind project, which began generating electricity in late 2010. For the three and six months ended June 30, production tax credits (net of state tax impacts) resulting from these wind projects were as follows (in millions):

	Three Months				Six Months
	2013		2012		2013		2012
Cedar Ridge (WPL)		$1.1		$1.0		$2.3		$2.3
Bent Tree - Phase I (WPL)	3.5		2.7		7.0		4.2
Subtotal (WPL)	4.6		3.7		9.3		6.5
Whispering Willow - East (IPL)	4.1		3.1		8.0		6.7
		$8.7		$6.8		$17.3		$13.2

The tax impacts of the production tax credits decreased Alliant Energy’s, IPL’s and WPL’s effective income tax rates for continuing operations for the three and six months ended June 30 as follows:

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	(7.9	%)	(6.3	%)	(7.7	%)	(6.6	%)
IPL	(10.5	%)	(8.6	%)	(10.1	%)	(8.9	%)
WPL	(7.2	%)	(6.5	%)	(7.0	%)	(6.4	%)

Effect of rate-making on property-related differences - Alliant Energy’s and IPL’s effective income tax rates are impacted by certain property-related differences for which deferred tax is not recognized in the income statement pursuant to rate-making principles, the majority of which relates to IPL. The tax impacts of the effect of rate-making on property-related differences decreased Alliant Energy’s and IPL’s effective income tax rates for continuing operations for the three and six months ended June 30 as follows. The primary factor contributing to the increase in the current tax benefits recorded for the effect of rate-making on property-related differences during the three and six months ended June 30, 2013 was repair expenditures at IPL.

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	(6.4	%)	(4.0	%)	(5.6	%)	(3.6	%)
IPL	(17.4	%)	(8.1	%)	(15.5	%)	(7.7	%)

Deferred Tax Assets and Liabilities - For the six months ended June 30, 2013, Alliant Energy’s and WPL’s current deferred tax assets decreased $27.9 million and $42.6 million, respectively. These decreases were primarily due to a transfer of deferred tax assets from current deferred tax assets to non-current deferred tax liabilities during the six months ended June 30, 2013 caused by a decrease in the amount of federal net operating loss carryforwards expected to be utilized during the next 12 months. The decrease in the amount of net operating loss carryforwards expected to be utilized during the next 12 months was impacted by the extension of bonus depreciation deductions in the first quarter of 2013 with the enactment of the American Taxpayer Relief Act of 2012 (ATR Act) in January 2013.

For the six months ended June 30, 2013, Alliant Energy’s and IPL’s non-current deferred tax liabilities increased $56.9 million and $44.3 million, respectively. These increases were primarily due to property-related differences resulting from bonus depreciation deductions and the effect of rate-making on property-related differences recorded during the six months ended June 30, 2013, partially offset by the transfer of certain deferred tax assets discussed above.

Carryforwards - At June 30, 2013, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (dollars in millions):

Alliant Energy	Carryforward Amount		Deferred Tax Assets		Earliest Expiration Date
Federal net operating losses		$841		$289	2029
State net operating losses	795		42		2018
Federal tax credits	155		153		2022
				$484

IPL	Carryforward Amount		Deferred Tax Assets		Earliest Expiration Date
Federal net operating losses		$385		$132	2029
State net operating losses	228		13		2018
Federal tax credits	47		46		2022
				$191

WPL	Carryforward Amount		Deferred Tax Assets		Earliest Expiration Date
Federal net operating losses		$342		$117	2029
State net operating losses	147		7		2018
Federal tax credits	50		49		2022
				$173

Uncertain Tax Positions - In 2013, statutes of limitations will expire for Alliant Energy’s, IPL’s and WPL’s tax returns in multiple state jurisdictions. The expiration of the statutes of limitations will not have any impact on Alliant Energy’s, IPL’s and WPL’s uncertain tax positions in 2013. As of June 30, 2013, Alliant Energy, IPL and WPL do not expect to have material changes to their unrecognized tax benefits during the next 12 months.

IPL [Member]

Income Tax [Line Items]

Income Taxes

INCOME TAXES

Income Tax Rates - The provision for income taxes for earnings from continuing operations is based on an estimated annual effective income tax rate that excludes the impact of significant unusual or infrequently occurring items, discontinued operations or extraordinary items. The effective income tax rates for Alliant Energy, IPL and WPL differ from the federal statutory rate of 35% generally due to effects of enacted tax legislation, utility rate-making, including IPL’s tax benefit riders, tax credits, state income taxes and certain non-deductible expenses. Changes in state apportionment rates caused by the planned sale of Alliant Energy’s RMT business also impacted the effective income tax rates for the six months ended June 30, 2012 for Alliant Energy, IPL and WPL. The effective income tax rates shown in the following table for the three and six months ended June 30 were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes.

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	13.3	%	19.5	%	13.0	%	28.3	%
IPL	(24.7	%)	(12.0	%)	(24.3	%)	22.6	%
WPL	33.1	%	34.6	%	32.5	%	39.4	%

State apportionment change due to planned sale of RMT - Alliant Energy, IPL and WPL utilize state apportionment projections to record their deferred tax assets and liabilities each reporting period. Deferred tax assets and liabilities for temporary differences between the tax basis of assets and liabilities and the amounts reported in the condensed consolidated financial statements are recorded utilizing currently enacted tax rates and estimates of future state apportionment rates expected to be in effect at the time the temporary differences reverse. These state apportionment projections are most significantly impacted by the estimated amount of revenues expected in the future from each state jurisdiction for Alliant Energy’s consolidated tax groups, including both its regulated and its non-regulated operations. In the first quarter of 2012, Alliant Energy, IPL and WPL recorded $15 million, $8 million and $7 million, respectively, of deferred income tax expense due to changes in state apportionment projections caused by the planned sale of Alliant Energy’s RMT business. These income tax expense amounts recognized during the first quarter of 2012 increased Alliant Energy’s, IPL’s and WPL’s effective income tax rates for continuing operations for the six months ended June 30, 2012 by 9.7%, 34.6% and 6.2%, respectively.

IPL’s tax benefit riders - Alliant Energy’s and IPL’s effective income tax rates include the impact of reducing income tax expense with offsetting reductions to regulatory liabilities as a result of implementing the tax benefit riders. The tax impacts of the tax benefit riders decreased Alliant Energy’s and IPL’s effective income tax rates for continuing operations for the three and six months ended June 30 as follows. Refer to Note 1(b) for additional details of IPL’s tax benefit riders.

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	(11.7	%)	(11.7	%)	(12.3	%)	(11.9	%)
IPL	(33.3	%)	(34.9	%)	(35.6	%)	(35.5	%)

Production tax credits - Alliant Energy has three wind projects that are currently generating production tax credits: WPL’s 68 MW Cedar Ridge wind project, which began generating electricity in late 2008; IPL’s 200 MW Whispering Willow - East wind project, which began generating electricity in late 2009; and WPL’s 200 MW Bent Tree - Phase I wind project, which began generating electricity in late 2010. For the three and six months ended June 30, production tax credits (net of state tax impacts) resulting from these wind projects were as follows (in millions):

	Three Months				Six Months
	2013		2012		2013		2012
Cedar Ridge (WPL)		$1.1		$1.0		$2.3		$2.3
Bent Tree - Phase I (WPL)	3.5		2.7		7.0		4.2
Subtotal (WPL)	4.6		3.7		9.3		6.5
Whispering Willow - East (IPL)	4.1		3.1		8.0		6.7
		$8.7		$6.8		$17.3		$13.2

The tax impacts of the production tax credits decreased Alliant Energy’s, IPL’s and WPL’s effective income tax rates for continuing operations for the three and six months ended June 30 as follows:

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	(7.9	%)	(6.3	%)	(7.7	%)	(6.6	%)
IPL	(10.5	%)	(8.6	%)	(10.1	%)	(8.9	%)
WPL	(7.2	%)	(6.5	%)	(7.0	%)	(6.4	%)

Effect of rate-making on property-related differences - Alliant Energy’s and IPL’s effective income tax rates are impacted by certain property-related differences for which deferred tax is not recognized in the income statement pursuant to rate-making principles, the majority of which relates to IPL. The tax impacts of the effect of rate-making on property-related differences decreased Alliant Energy’s and IPL’s effective income tax rates for continuing operations for the three and six months ended June 30 as follows. The primary factor contributing to the increase in the current tax benefits recorded for the effect of rate-making on property-related differences during the three and six months ended June 30, 2013 was repair expenditures at IPL.

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	(6.4	%)	(4.0	%)	(5.6	%)	(3.6	%)
IPL	(17.4	%)	(8.1	%)	(15.5	%)	(7.7	%)

Deferred Tax Assets and Liabilities - For the six months ended June 30, 2013, Alliant Energy’s and WPL’s current deferred tax assets decreased $27.9 million and $42.6 million, respectively. These decreases were primarily due to a transfer of deferred tax assets from current deferred tax assets to non-current deferred tax liabilities during the six months ended June 30, 2013 caused by a decrease in the amount of federal net operating loss carryforwards expected to be utilized during the next 12 months. The decrease in the amount of net operating loss carryforwards expected to be utilized during the next 12 months was impacted by the extension of bonus depreciation deductions in the first quarter of 2013 with the enactment of the American Taxpayer Relief Act of 2012 (ATR Act) in January 2013.

For the six months ended June 30, 2013, Alliant Energy’s and IPL’s non-current deferred tax liabilities increased $56.9 million and $44.3 million, respectively. These increases were primarily due to property-related differences resulting from bonus depreciation deductions and the effect of rate-making on property-related differences recorded during the six months ended June 30, 2013, partially offset by the transfer of certain deferred tax assets discussed above.

Carryforwards - At June 30, 2013, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (dollars in millions):

Alliant Energy	Carryforward Amount		Deferred Tax Assets		Earliest Expiration Date
Federal net operating losses		$841		$289	2029
State net operating losses	795		42		2018
Federal tax credits	155		153		2022
				$484

IPL	Carryforward Amount		Deferred Tax Assets		Earliest Expiration Date
Federal net operating losses		$385		$132	2029
State net operating losses	228		13		2018
Federal tax credits	47		46		2022
				$191

WPL	Carryforward Amount		Deferred Tax Assets		Earliest Expiration Date
Federal net operating losses		$342		$117	2029
State net operating losses	147		7		2018
Federal tax credits	50		49		2022
				$173

Uncertain Tax Positions - In 2013, statutes of limitations will expire for Alliant Energy’s, IPL’s and WPL’s tax returns in multiple state jurisdictions. The expiration of the statutes of limitations will not have any impact on Alliant Energy’s, IPL’s and WPL’s uncertain tax positions in 2013. As of June 30, 2013, Alliant Energy, IPL and WPL do not expect to have material changes to their unrecognized tax benefits during the next 12 months.

WPL [Member]

Income Tax [Line Items]

Income Taxes

INCOME TAXES

Income Tax Rates - The provision for income taxes for earnings from continuing operations is based on an estimated annual effective income tax rate that excludes the impact of significant unusual or infrequently occurring items, discontinued operations or extraordinary items. The effective income tax rates for Alliant Energy, IPL and WPL differ from the federal statutory rate of 35% generally due to effects of enacted tax legislation, utility rate-making, including IPL’s tax benefit riders, tax credits, state income taxes and certain non-deductible expenses. Changes in state apportionment rates caused by the planned sale of Alliant Energy’s RMT business also impacted the effective income tax rates for the six months ended June 30, 2012 for Alliant Energy, IPL and WPL. The effective income tax rates shown in the following table for the three and six months ended June 30 were computed by dividing income tax expense (benefit) by income from continuing operations before income taxes.

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	13.3	%	19.5	%	13.0	%	28.3	%
IPL	(24.7	%)	(12.0	%)	(24.3	%)	22.6	%
WPL	33.1	%	34.6	%	32.5	%	39.4	%

State apportionment change due to planned sale of RMT - Alliant Energy, IPL and WPL utilize state apportionment projections to record their deferred tax assets and liabilities each reporting period. Deferred tax assets and liabilities for temporary differences between the tax basis of assets and liabilities and the amounts reported in the condensed consolidated financial statements are recorded utilizing currently enacted tax rates and estimates of future state apportionment rates expected to be in effect at the time the temporary differences reverse. These state apportionment projections are most significantly impacted by the estimated amount of revenues expected in the future from each state jurisdiction for Alliant Energy’s consolidated tax groups, including both its regulated and its non-regulated operations. In the first quarter of 2012, Alliant Energy, IPL and WPL recorded $15 million, $8 million and $7 million, respectively, of deferred income tax expense due to changes in state apportionment projections caused by the planned sale of Alliant Energy’s RMT business. These income tax expense amounts recognized during the first quarter of 2012 increased Alliant Energy’s, IPL’s and WPL’s effective income tax rates for continuing operations for the six months ended June 30, 2012 by 9.7%, 34.6% and 6.2%, respectively.

IPL’s tax benefit riders - Alliant Energy’s and IPL’s effective income tax rates include the impact of reducing income tax expense with offsetting reductions to regulatory liabilities as a result of implementing the tax benefit riders. The tax impacts of the tax benefit riders decreased Alliant Energy’s and IPL’s effective income tax rates for continuing operations for the three and six months ended June 30 as follows. Refer to Note 1(b) for additional details of IPL’s tax benefit riders.

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	(11.7	%)	(11.7	%)	(12.3	%)	(11.9	%)
IPL	(33.3	%)	(34.9	%)	(35.6	%)	(35.5	%)

Production tax credits - Alliant Energy has three wind projects that are currently generating production tax credits: WPL’s 68 MW Cedar Ridge wind project, which began generating electricity in late 2008; IPL’s 200 MW Whispering Willow - East wind project, which began generating electricity in late 2009; and WPL’s 200 MW Bent Tree - Phase I wind project, which began generating electricity in late 2010. For the three and six months ended June 30, production tax credits (net of state tax impacts) resulting from these wind projects were as follows (in millions):

	Three Months				Six Months
	2013		2012		2013		2012
Cedar Ridge (WPL)		$1.1		$1.0		$2.3		$2.3
Bent Tree - Phase I (WPL)	3.5		2.7		7.0		4.2
Subtotal (WPL)	4.6		3.7		9.3		6.5
Whispering Willow - East (IPL)	4.1		3.1		8.0		6.7
		$8.7		$6.8		$17.3		$13.2

The tax impacts of the production tax credits decreased Alliant Energy’s, IPL’s and WPL’s effective income tax rates for continuing operations for the three and six months ended June 30 as follows:

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	(7.9	%)	(6.3	%)	(7.7	%)	(6.6	%)
IPL	(10.5	%)	(8.6	%)	(10.1	%)	(8.9	%)
WPL	(7.2	%)	(6.5	%)	(7.0	%)	(6.4	%)

Effect of rate-making on property-related differences - Alliant Energy’s and IPL’s effective income tax rates are impacted by certain property-related differences for which deferred tax is not recognized in the income statement pursuant to rate-making principles, the majority of which relates to IPL. The tax impacts of the effect of rate-making on property-related differences decreased Alliant Energy’s and IPL’s effective income tax rates for continuing operations for the three and six months ended June 30 as follows. The primary factor contributing to the increase in the current tax benefits recorded for the effect of rate-making on property-related differences during the three and six months ended June 30, 2013 was repair expenditures at IPL.

	Three Months				Six Months
	2013		2012		2013		2012
Alliant Energy	(6.4	%)	(4.0	%)	(5.6	%)	(3.6	%)
IPL	(17.4	%)	(8.1	%)	(15.5	%)	(7.7	%)

Deferred Tax Assets and Liabilities - For the six months ended June 30, 2013, Alliant Energy’s and WPL’s current deferred tax assets decreased $27.9 million and $42.6 million, respectively. These decreases were primarily due to a transfer of deferred tax assets from current deferred tax assets to non-current deferred tax liabilities during the six months ended June 30, 2013 caused by a decrease in the amount of federal net operating loss carryforwards expected to be utilized during the next 12 months. The decrease in the amount of net operating loss carryforwards expected to be utilized during the next 12 months was impacted by the extension of bonus depreciation deductions in the first quarter of 2013 with the enactment of the American Taxpayer Relief Act of 2012 (ATR Act) in January 2013.

For the six months ended June 30, 2013, Alliant Energy’s and IPL’s non-current deferred tax liabilities increased $56.9 million and $44.3 million, respectively. These increases were primarily due to property-related differences resulting from bonus depreciation deductions and the effect of rate-making on property-related differences recorded during the six months ended June 30, 2013, partially offset by the transfer of certain deferred tax assets discussed above.

Carryforwards - At June 30, 2013, tax carryforwards and associated deferred tax assets and expiration dates were estimated as follows (dollars in millions):

Alliant Energy	Carryforward Amount		Deferred Tax Assets		Earliest Expiration Date
Federal net operating losses		$841		$289	2029
State net operating losses	795		42		2018
Federal tax credits	155		153		2022
				$484

IPL	Carryforward Amount		Deferred Tax Assets		Earliest Expiration Date
Federal net operating losses		$385		$132	2029
State net operating losses	228		13		2018
Federal tax credits	47		46		2022
				$191

WPL	Carryforward Amount		Deferred Tax Assets		Earliest Expiration Date
Federal net operating losses		$342		$117	2029
State net operating losses	147		7		2018
Federal tax credits	50		49		2022
				$173

Uncertain Tax Positions - In 2013, statutes of limitations will expire for Alliant Energy’s, IPL’s and WPL’s tax returns in multiple state jurisdictions. The expiration of the statutes of limitations will not have any impact on Alliant Energy’s, IPL’s and WPL’s uncertain tax positions in 2013. As of June 30, 2013, Alliant Energy, IPL and WPL do not expect to have material changes to their unrecognized tax benefits during the next 12 months.