Pension And Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2012

Schedule Of Defined Benefit Plans Disclosures


	Pension benefits as of December 31,
	2012		2011
	*(In Thousands)*
Change in benefit obligation:
Projected benefit obligation at beginning Measurement Date (see below)	$	679,261	$	607,408
Service cost		7,986		7,234
Interest cost		30,232		31,828
Actuarial (gain) loss		69,099		62,587
Amendments (primarily increases in pension bands)		7,349		82
Benefits paid		(30,327)		(29,878)
Projected benefit obligation at ending Measurement Date		763,600		679,261
Change in plan assets:
Fair value of plan assets at beginning Measurement Date		426,384		412,611
Actual return on plan assets		50,713		6,305
Employer contributions		48,312		37,345
Benefits paid		(30,327)		(29,877)
Fair value of plan assets at ending Measurement Date		495,082		426,384
Funded status	$	(268,518)	$	(252,877)
Amounts recognized in the statement of financial position under ASC 715:
Current liabilities	$	-	$	-
Noncurrent liabilities		(268,518)		(252,877)
Net amount recognized	$	(268,518)	$	(252,877)
Sources of change in regulatory assets⁽¹⁾:
Prior service cost (credit) arising during period	$	7,350	$	82
Net loss (gain) arising during period		50,938		88,450
Amortization of prior service (cost) credit		(4,246)		(4,346)
Amortization of gain (loss)		(19,471)		(13,306)
Total recognized in regulatory assets⁽¹⁾	$	34,571	$	70,880
Total amounts included in accumulated other comprehensive income (loss)		NA⁽¹⁾		NA⁽¹⁾
Amounts included in regulatory assets and liabilities⁽¹⁾
Net loss (gain)	$	314,557	$	283,089
Prior service cost (credit)		33,836		30,732
Total amounts included in regulatory assets (liabilities)	$	348,393	$	313,821

⁽¹⁾Represents amounts included in regulatory assets (liabilities) yet to be recognized as components of net prepaid (accrued) benefit costs.

Information For Pension Plans With A Benefit Obligation In Excess Of Plan Assets


	Pension benefits as of December 31,
	2012		2011
	*(In Thousands)*
Benefit obligation	$	763,600	$	679,261
Plan assets		495,082		426,384
Benefit obligation in excess of plan assets	$	268,518	$	252,877

Information For Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets


	Pension benefits as of December 31,
	2012		2011
	*(In Thousands)*
Accumulated benefit obligation	$	746,542	$	664,212
Plan assets		495,082		426,384
Accumulated benefit obligation in excess of plan assets	$	251,460	$	237,828

Schedule Of Net Periodic Benefit Costs


	Pension benefits for years ended December 31,
	2012		2011		2010
	*(In Thousands)*
Components of net periodic benefit cost:
Service cost	$	7,986	$	7,234	$	6,590
Interest cost		30,232		31,828		31,577
Plan settlements		-		-		204
Expected return on plan assets		(32,554)		(32,168)		(29,250)
Amortization of prior service cost		4,246		4,346		3,476
Recognized actuarial loss		19,471		13,306		11,838
Total pension cost		29,381		24,546		24,435
Less: amounts capitalized		2,497		2,258		2,321
Amount charged to expense	$	26,884	$	22,288	$	22,114
Rates relevant to each year's expense calculations:
Discount rate - defined benefit pension plan		4.56%		5.38%		5.93%
Discount rate - supplemental retirement plan		4.37%		5.09%		5.27%/5.08% ⁽¹⁾
Expected return on defined benefit pension plan assets		7.50%		7.75%		8.00%
Expected return on supplemental retirement plan assets		7.50%		7.75%		8.00%
⁽¹⁾ 5.27% for the period January 1, 2010 thru May 31, 2010, 5.08% for the settlement on May 31, 2010 and the period June 1, 2010 through December 31, 2010.

Schedule Of Fair Value Of Pension Plan Assets



	Lower Limit		Target Allocation	Upper Limit	Return⁽²⁾	Risk⁽³⁾
Liability Hedging Portfolio ⁽¹⁾
Liability Manager Fixed Income		10.0%	16.0%	40.0%	5.3%	3.6%
Core Fixed Income		10.0%	16.0%	22.0%	5.4%	3.8%

Growth Portfolio
High Yield Fixed Income		3.0%	8.0%	13.0%	8.9%	9.5%
U.S. Large Cap Equity		20.0%	30.0%	40.0%	10.4%	15.4%
U.S. Mid Cap Equity		2.5%	5.0%	7.5%	11.2%	17.1%
U.S. Small Cap Equity		2.5%	5.0%	7.5%	12.0%	19.9%
International Equity		5.0%	10.0%	15.0%	10.3%	17.7%
REIT		0.0%	5.0%	10.0%	10.4%	18.8%
Hedge Funds ⁽⁴⁾		0.0%	5.0%	10.0%	9.3%	8.4%

⁽¹⁾Upper limit for all assets held in the Liability Hedging Portfolio is 40%
⁽²⁾Expected long-term annual return
⁽³⁾Expected standard deviation
⁽⁴⁾Alternative investments (combined) not to exceed 10%

The fair values of the pension plan assets at December 31, 2012, by asset category are as follows:


		Fair Value Measurements at December 31, 2012 (in thousands)

				Quoted Prices in Active Markets for Identical Assets		Significant Observable Inputs

Asset Category		Total		(Level 1)		(Level 2)	%

Cash and cash equivalents	$	42,139	$	42,139	$	-	9%

Equity Securities:
Common stock		96,347		96,347		-	19%
REIT		22,330		22,330		-	5%

Fixed Income Securities:
Government debt securities		25,170		25,170		-	5%
Corporate debt securities		148,553		-		148,553	30%

Other types of investments:
Mutual fund - Equities		51,154		51,154		-	10%
Mutual fund - Debt		3,626		3,626		-	1%
Mutual fund - REIT		174		174		-	0%
Hedge fund - Equity		35,498		-		35,498	7%
Common/collective trust funds		70,091		-		70,091	14%

Total	$	495,082	$	240,940	$	254,142	100%

The fair values of the pension plan assets at December 31, 2011, by asset category are as follows:


		Fair Value Measurements at December 31, 2011 (in thousands)

				Quoted Prices in Active Markets for Identical Assets		Significant Observable Inputs

Asset Category		Total		(Level 1)		(Level 2)	%

Cash and cash equivalents	$	14,984	$	14,984	$	-	4%

Equity Securities:
Common stock		99,152		99,152		-	23%
Preferred stock		718		718		-	0%
REIT		20,340		20,340		-	5%

Fixed Income Securities:
Government debt securities		30,542		30,542		-	7%
Corporate debt securities		77,838		-		77,838	18%
Other debt securities		49,650		-		49,650	12%

Other types of investments:
Mutual fund - Equities		38,054		38,054		-	9%
Mutual fund - Debt		1,748		1,748		-	0%
Mutual fund - REIT		149		149		-	0%
Hedge fund - Equity		32,432		-		32,432	8%
Common/collective trust funds (1)		60,777		-		60,777	14%

Total	$	426,384	$	205,687	$	220,697	100%

⁽¹⁾On January 26, 2011, we transferred Level 1 securities with a fair value of $20.6 million to a common/collective trust fund. This resulted in a transfer of $20.6 million from Level 1 to Level 2 because the fair value of the interest in the common/collective fund is classified as Level 2 within the fair value hierarchy.

Schedule Of Expected Benefit Payments


Year	Pension Benefits
	*(In Thousands)*
2013	$	51,238
2014		34,665
2015		36,274
2016		37,557
2017		38,962
2018 through 2022 (in total)		216,051

Indianapolis Power And Light Company [Member]

Schedule Of Defined Benefit Plans Disclosures


	Pension benefits as of December 31,
	2012		2011
	*(In Thousands)*
Change in benefit obligation:
Projected benefit obligation at beginning Measurement Date (see below)	$	679,261	$	607,408
Service cost		7,986		7,234
Interest cost		30,232		31,828
Actuarial (gain) loss		69,099		62,587
Amendments (primarily increases in pension bands)		7,349		82
Benefits paid		(30,327)		(29,878)
Projected benefit obligation at ending Measurement Date		763,600		679,261
Change in plan assets:
Fair value of plan assets at beginning Measurement Date		426,384		412,611
Actual return on plan assets		50,713		6,305
Employer contributions		48,312		37,345
Benefits paid		(30,327)		(29,877)
Fair value of plan assets at ending Measurement Date		495,082		426,384
Funded status	$	(268,518)	$	(252,877)
Amounts recognized in the statement of financial position under ASC 715:
Current liabilities	$	-	$	-
Noncurrent liabilities		(268,518)		(252,877)
Net amount recognized	$	(268,518)	$	(252,877)
Sources of change in regulatory assets⁽¹⁾:
Prior service cost (credit) arising during period	$	7,350	$	82
Net loss (gain) arising during period		50,938		88,450
Amortization of prior service (cost) credit		(4,246)		(4,346)
Amortization of gain (loss)		(19,471)		(13,306)
Total recognized in regulatory assets⁽¹⁾	$	34,571	$	70,880
Total amounts included in accumulated other comprehensive income (loss)		NA⁽¹⁾		NA⁽¹⁾
Amounts included in regulatory assets and liabilities⁽¹⁾
Net loss (gain)	$	314,557	$	283,089
Prior service cost (credit)		33,836		30,732
Total amounts included in regulatory assets (liabilities)	$	348,393	$	313,821

⁽¹⁾Represents amounts included in regulatory assets (liabilities) yet to be recognized as components of net prepaid (accrued) benefit costs.

Information For Pension Plans With A Benefit Obligation In Excess Of Plan Assets


	Pension benefits as of December 31,
	2012		2011
	*(In Thousands)*
Benefit obligation	$	763,600	$	679,261
Plan assets		495,082		426,384
Benefit obligation in excess of plan assets	$	268,518	$	252,877

Information For Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets


	Pension benefits as of December 31,
	2012		2011
	*(In Thousands)*
Accumulated benefit obligation	$	746,542	$	664,212
Plan assets		495,082		426,384
Accumulated benefit obligation in excess of plan assets	$	251,460	$	237,828

Schedule Of Net Periodic Benefit Costs


	Pension benefits for years ended December 31,
	2012		2011		2010
	*(In Thousands)*
Components of net periodic benefit cost:
Service cost	$	7,986	$	7,234	$	6,590
Interest cost		30,232		31,828		31,577
Plan settlements		-		-		204
Expected return on plan assets		(32,554)		(32,168)		(29,250)
Amortization of prior service cost		4,246		4,346		3,476
Recognized actuarial loss		19,471		13,306		11,838
Total pension cost		29,381		24,546		24,435
Less: amounts capitalized		2,497		2,258		2,321
Amount charged to expense	$	26,884	$	22,288	$	22,114
Rates relevant to each year's expense calculations:
Discount rate - defined benefit pension plan		4.56%		5.38%		5.93%
Discount rate - supplemental retirement plan		4.37%		5.09%		5.27%/5.08% ⁽¹⁾
Expected return on defined benefit pension plan assets		7.50%		7.75%		8.00%
Expected return on supplemental retirement plan assets		7.50%		7.75%		8.00%
⁽¹⁾ 5.27% for the period January 1, 2010 thru May 31, 2010, 5.08% for the settlement on May 31, 2010 and the period June 1, 2010 through December 31, 2010.

Schedule Of Fair Value Of Pension Plan Assets



	Lower Limit		Target Allocation	Upper Limit	Return⁽²⁾	Risk⁽³⁾
Liability Hedging Portfolio ⁽¹⁾
Liability Manager Fixed Income		10.0%	16.0%	40.0%	5.3%	3.6%
Core Fixed Income		10.0%	16.0%	22.0%	5.4%	3.8%

Growth Portfolio
High Yield Fixed Income		3.0%	8.0%	13.0%	8.9%	9.5%
U.S. Large Cap Equity		20.0%	30.0%	40.0%	10.4%	15.4%
U.S. Mid Cap Equity		2.5%	5.0%	7.5%	11.2%	17.1%
U.S. Small Cap Equity		2.5%	5.0%	7.5%	12.0%	19.9%
International Equity		5.0%	10.0%	15.0%	10.3%	17.7%
REIT		0.0%	5.0%	10.0%	10.4%	18.8%
Hedge Funds ⁽⁴⁾		0.0%	5.0%	10.0%	9.3%	8.4%

⁽¹⁾Upper limit for all assets held in the Liability Hedging Portfolio is 40%
⁽²⁾Expected long-term annual return
⁽³⁾Expected standard deviation
⁽⁴⁾Alternative investments (combined) not to exceed 10%

The fair values of the pension plan assets at December 31, 2012, by asset category are as follows:


		Fair Value Measurements at December 31, 2012 (in thousands)

				Quoted Prices in Active Markets for Identical Assets		Significant Observable Inputs

Asset Category		Total		(Level 1)		(Level 2)	%

Cash and cash equivalents	$	42,139	$	42,139	$	-	9%

Equity Securities:
Common stock		96,347		96,347		-	19%
REIT		22,330		22,330		-	5%

Fixed Income Securities:
Government debt securities		25,170		25,170		-	5%
Corporate debt securities		148,553		-		148,553	30%

Other types of investments:
Mutual fund - Equities		51,154		51,154		-	10%
Mutual fund - Debt		3,626		3,626		-	1%
Mutual fund - REIT		174		174		-	0%
Hedge fund - Equity		35,498		-		35,498	7%
Common/collective trust funds		70,091		-		70,091	14%

Total	$	495,082	$	240,940	$	254,142	100%

The fair values of the pension plan assets at December 31, 2011, by asset category are as follows:


		Fair Value Measurements at December 31, 2011 (in thousands)

				Quoted Prices in Active Markets for Identical Assets		Significant Observable Inputs

Asset Category		Total		(Level 1)		(Level 2)	%

Cash and cash equivalents	$	14,984	$	14,984	$	-	4%

Equity Securities:
Common stock		99,152		99,152		-	23%
Preferred stock		718		718		-	0%
REIT		20,340		20,340		-	5%

Fixed Income Securities:
Government debt securities		30,542		30,542		-	7%
Corporate debt securities		77,838		-		77,838	18%
Other debt securities		49,650		-		49,650	12%

Other types of investments:
Mutual fund - Equities		38,054		38,054		-	9%
Mutual fund - Debt		1,748		1,748		-	0%
Mutual fund - REIT		149		149		-	0%
Hedge fund - Equity		32,432		-		32,432	8%
Common/collective trust funds (1)		60,777		-		60,777	14%

Total	$	426,384	$	205,687	$	220,697	100%

⁽¹⁾On January 26, 2011, we transferred Level 1 securities with a fair value of $20.6 million to a common/collective trust fund. This resulted in a transfer of $20.6 million from Level 1 to Level 2 because the fair value of the interest in the common/collective fund is classified as Level 2 within the fair value hierarchy.

Schedule Of Expected Benefit Payments


Year	Pension Benefits
	*(In Thousands)*
2013	$	51,238
2014		34,665
2015		36,274
2016		37,557
2017		38,962
2018 through 2022 (in total)		216,051

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 158

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 715

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

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-Section 55

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2410-114920

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5, 6, 7

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details