Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Reconciliation Of Unrecognized Tax Benefits

	2012		2011			2010
	(In Thousands)
Unrecognized tax benefits at January 1	$	5,354	$	4,757	$	7,947
Gross increases - current period tax positions		997		753		753
Gross decreases - prior period tax positions		(213)		(156)		(3,943)
Unrecognized tax benefits at December 31	$	6,138	$	5,354	$	4,757

Schedule Of Federal And State Income Taxed Charged To Income

	2012		2011		2010
	(In Thousands)
Charged to utility operating expenses:
Current income taxes:
Federal	$	55,201	$	54,377	$	61,999
State		16,641		16,539		18,818
Total current income taxes		71,842		70,916		80,817
Deferred income taxes:
Federal		(3,285)		(5,027)		(4,697)
State		204		(1,608)		1,539
Total deferred income taxes		(3,081)		(6,635)		(3,158)
Net amortization of investment credit		(1,599)		(1,672)		(1,720)
Total charge to utility operating expenses		67,162		62,609		75,939
Charged to other income and deductions:
Current income taxes:
Federal		(15,646)		(19,639)		(19,239)
State		(4,127)		(5,255)		(5,291)
Total current income taxes		(19,773)		(24,894)		(24,530)
Deferred income taxes:
Federal		251		(476)		(692)
State		59		(106)		(188)
Total deferred income taxes		310		(582)		(880)
Net credit to other income and deductions		(19,463)		(25,476)		(25,410)
Total federal and state income tax provisions	$	47,699	$	37,133	$	50,529

Schedule Of Effective Income Tax Rate

	2012	2011	2010
Federal statutory tax rate	35.0%	35.0%	35.0%
State income tax, net of federal tax benefit	7.2	6.7	7.7
Amortization of investment tax credits	(1.4)	(1.8)	(1.4)
Preferred dividends of subsidiary	1.0	1.2	0.9
Depreciation flow through and amortization	1.4	1.3	0.5
Manufacturers' Production Deduction (Sec. 199)	(3.7)	(3.5)	(3.4)
Change in tax reserves	0.0	0.0	(0.3)
Other - net	1.4	0.4	0.7
Effective tax rate	40.9%	39.3%	39.7%

Schedule Of Deferred Tax Assets And Liabilities

	2012		2011
	(In Thousands)
Deferred tax liabilities:
Relating to utility property, net	$	475,517	$	483,261
Regulatory assets recoverable through future rates		197,909		181,593
Other		12,674		15,117
Total deferred tax liabilities		686,100		679,971
Deferred tax assets:
Investment tax credit		3,216		3,855
Regulatory liabilities including ARO		229,025		220,491
Employee benefit plans		114,420		106,243
Other		8,389		10,573
Total deferred tax assets		355,050		341,162
Accumulated net deferred tax liability		331,050		338,809
Less: Net current deferred tax asset		(10,809)		(12,352)
Accumulated deferred income taxes - net	$	341,859	$	351,161

Indianapolis Power And Light Company [Member]

Reconciliation Of Unrecognized Tax Benefits

	2012		2011			2010
	(In Thousands)
Unrecognized tax benefits at January 1	$	5,354	$	4,757	$	7,947
Gross increases - current period tax positions		997		753		753
Gross decreases - prior period tax positions		(213)		(156)		(3,943)
Unrecognized tax benefits at December 31	$	6,138	$	5,354	$	4,757

Schedule Of Federal And State Income Taxed Charged To Income

	2012		2011		2010
	(In Thousands)
Charged to utility operating expenses:
Current income taxes:
Federal	$	55,201	$	54,377	$	61,999
State		16,641		16,539		18,818
Total current income taxes		71,842		70,916		80,817
Deferred income taxes:
Federal		(3,285)		(5,027)		(4,697)
State		204		(1,608)		1,539
Total deferred income taxes		(3,081)		(6,635)		(3,158)
Net amortization of investment credit		(1,599)		(1,672)		(1,720)
Total charge to utility operating expenses		67,162		62,609		75,939
Charged to other income and deductions:
Current income taxes:
Federal		395		2,883		(286)
State		245		916		39
Total current income taxes		640		3,799		(247)
Deferred income taxes:
Federal		10		(5)		(1)
State		4		5		(4)
Total deferred income taxes		14		-		(5)
Net credit to other income and deductions		654		3,799		(252)
Total federal and state income tax provisions	$	67,816	$	66,408	$	75,687

Schedule Of Effective Income Tax Rate

	2012	2011	2010
Federal statutory tax rate	35.0%	35.0%	35.0%
State income tax, net of federal tax benefit	6.5	6.0	6.8
Amortization of investment tax credits	(0.9)	(1.0)	(0.9)
Depreciation flow through and amortization	1.0	0.7	0.4
Manufacturers' Production Deduction (Sec. 199)	(3.0)	(2.4)	(2.7)
Change in tax reserves	(0.0)	(0.0)	(0.2)
Other - net	0.9	0.4	0.3
Effective tax rate	39.5%	38.7%	38.7%

Schedule Of Deferred Tax Assets And Liabilities

	2012		2011
	(In Thousands)
Deferred tax liabilities:
Relating to utility property, net	$	475,517	$	483,261
Regulatory assets recoverable through future rates		197,909		181,593
Other		12,643		15,288
Total deferred tax liabilities		686,069		680,142
Deferred tax assets:
Investment tax credit		3,216		3,855
Regulatory liabilities including ARO		229,025		220,491
Employee benefit plans		114,420		106,243
Other		8,276		10,366
Total deferred tax assets		354,937		340,955
Accumulated net deferred tax liability		331,132		339,187
Less: Net current deferred tax asset		(10,782)		(12,323)
Accumulated deferred income taxes - net	$	341,914	$	351,510