Guarantees

The following table shows our outstanding guarantees:



	Total Amounts Committed at		Expiration
(Millions)	June 30, 2015		Less Than 1 Year		1 to 3 Years		Over 3 Years
Guarantees supporting commodity transactions of subsidiaries ⁽¹⁾	$	156.4	$	83.4	$	—	$	73.0
Standby letters of credit⁽²⁾	1.2		1.1		0.1		—
Surety bonds⁽³⁾	32.2		32.2		—		—
Guarantees temporarily retained related to the sale of IES's retail energy business ⁽⁴⁾	0.6		0.6		—		—
Other guarantees⁽⁵⁾	62.7		—		0.1		62.6
Total guarantees	$	253.1	$	117.3	$	0.2	$	135.6


⁽¹⁾	Consists of (a) $5.0 million and $6.0 million to support the business operations of WBS and PDL, respectively, and (b) $1.1 million, $109.3 million, and $35.0 million related to natural gas supply at ITF, MERC, and MGU, respectively. These guarantees are not reflected on our balance sheets.


⁽²⁾	At our request or the request of our subsidiaries, financial institutions have issued standby letters of credit for the benefit of third parties that have extended credit to our subsidiaries. These amounts consist of standby letters of credit issued to support ITF, MERC, MGU, NSG, PDL, PGL, and WPS. These amounts are not reflected on our balance sheets.


⁽³⁾	Primarily for the construction and operation of compressed natural gas fueling stations by ITF, workers compensation self-insurance programs, and obtaining various licenses, permits, and rights-of-way. These amounts are not reflected on our balance sheets.

⁽⁴⁾

These guarantees were retained temporarily due to the sale of IES's retail energy business to Exelon Generation Company, LLC (Exelon). Exelon is contractually bound to reimburse us for any payments made under the outstanding guarantees. At June 30, 2015, these guarantees consisted of standby letters of credit. The liability related to these guarantees was insignificant. Our exposure under these guarantees related to open transactions at June 30, 2015, was $0.6 million.

⁽⁵⁾

Consists of (a) $34.6 million to support PDL's future payment obligations related to its distributed solar generation projects; (b) $10.0 million related to the sale agreement for IES's Texas retail marketing business; (c) $11.2 million related to the performance of an operating and maintenance agreement by ITF; and (d) $6.9 million related to other indemnifications, primarily for workers compensation coverage. The amounts discussed in items (a), (c), and (d) are not reflected on our balance sheets. An insignificant liability was recorded for item (b) related to the possible imposition of additional miscellaneous gross receipts tax in the event of a change in law or interpretation of the law.