Receivables

12 Months Ended

Dec. 31, 2017

Accounts, Notes, Loans and Financing 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
	2017			2016			2017			2016			2017			2016
Customer		$103.3			$111.7			$—			$—			$97.7			$104.4
Unbilled utility revenues	85.1			90.2			—			—			85.1			90.2
Deferred proceeds	222.1			211.1			222.1			211.1			—			—
Other	84.3			89.0			44.1			30.7			40.1			38.8
Allowance for doubtful accounts	(12.0		)	(8.7		)	(1.3		)	(1.1		)	(10.7		)	(7.1		)
		$482.8			$493.3			$264.9			$240.7			$212.2			$226.3

(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 IPL sells its receivables expires in March 2018. IPL currently expects to amend and extend the purchase commitment. 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. IPL was in compliance with all related covenants as of December 31, 2017.

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. Effective February 2017, the limit on cash proceeds was changed to $125 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, 2017, IPL had $91.7 million of available capacity under its sales of accounts receivable program.

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. In 2017, 2016 and 2015, IPL’s costs incurred related to the sales of accounts receivable program were not material. Refer to Note 14 for discussion of the fair value of deferred proceeds.

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
	2017	2016	2015	2017	2016	2015
Outstanding aggregate cash proceeds	$112.0	$172.0	$137.0	$62.2	$73.2	$46.7

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

	2017	2016
Customer accounts receivable	$133.8	$157.6
Unbilled utility revenues	112.7	90.4
Other receivables	0.3	0.1
Receivables sold to third party	246.8	248.1
Less: cash proceeds (a)	12.0	21.0
Deferred proceeds	234.8	227.1
Less: allowance for doubtful accounts	12.7	16.0
Fair value of deferred proceeds	$222.1	$211.1
Outstanding receivables past due	$44.7	$68.0

(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.

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

	2017	2016	2015
Collections reinvested in receivables	$1,647.1	$1,818.1	$1,812.9
Write-offs, net of recoveries	17.7	4.8	8.8

In connection with the implementation of IPL’s new customer billing and information system in 2016, IPL postponed the write-off of customer bills for a portion of 2016, resulting in lower write-offs in 2016, higher write-offs in 2017 and higher outstanding receivables past due as of December 31, 2016.

IPL [Member]

Accounts, Notes, Loans and Financing 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
	2017			2016			2017			2016			2017			2016
Customer		$103.3			$111.7			$—			$—			$97.7			$104.4
Unbilled utility revenues	85.1			90.2			—			—			85.1			90.2
Deferred proceeds	222.1			211.1			222.1			211.1			—			—
Other	84.3			89.0			44.1			30.7			40.1			38.8
Allowance for doubtful accounts	(12.0		)	(8.7		)	(1.3		)	(1.1		)	(10.7		)	(7.1		)
		$482.8			$493.3			$264.9			$240.7			$212.2			$226.3

(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 IPL sells its receivables expires in March 2018. IPL currently expects to amend and extend the purchase commitment. 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. IPL was in compliance with all related covenants as of December 31, 2017.

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. Effective February 2017, the limit on cash proceeds was changed to $125 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, 2017, IPL had $91.7 million of available capacity under its sales of accounts receivable program.

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. In 2017, 2016 and 2015, IPL’s costs incurred related to the sales of accounts receivable program were not material. Refer to Note 14 for discussion of the fair value of deferred proceeds.

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
	2017	2016	2015	2017	2016	2015
Outstanding aggregate cash proceeds	$112.0	$172.0	$137.0	$62.2	$73.2	$46.7

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

	2017	2016
Customer accounts receivable	$133.8	$157.6
Unbilled utility revenues	112.7	90.4
Other receivables	0.3	0.1
Receivables sold to third party	246.8	248.1
Less: cash proceeds (a)	12.0	21.0
Deferred proceeds	234.8	227.1
Less: allowance for doubtful accounts	12.7	16.0
Fair value of deferred proceeds	$222.1	$211.1
Outstanding receivables past due	$44.7	$68.0

(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.

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

	2017	2016	2015
Collections reinvested in receivables	$1,647.1	$1,818.1	$1,812.9
Write-offs, net of recoveries	17.7	4.8	8.8

In connection with the implementation of IPL’s new customer billing and information system in 2016, IPL postponed the write-off of customer bills for a portion of 2016, resulting in lower write-offs in 2016, higher write-offs in 2017 and higher outstanding receivables past due as of December 31, 2016.

WPL [Member]

Accounts, Notes, Loans and Financing 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
	2017			2016			2017			2016			2017			2016
Customer		$103.3			$111.7			$—			$—			$97.7			$104.4
Unbilled utility revenues	85.1			90.2			—			—			85.1			90.2
Deferred proceeds	222.1			211.1			222.1			211.1			—			—
Other	84.3			89.0			44.1			30.7			40.1			38.8
Allowance for doubtful accounts	(12.0		)	(8.7		)	(1.3		)	(1.1		)	(10.7		)	(7.1		)
		$482.8			$493.3			$264.9			$240.7			$212.2			$226.3