v2.4.0.6
Discontinued Operations And Assets And Liabilities Held For Sale
 9 Months Ended
Sep. 30, 2012
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations And Assets And Liabilities Held For Sale
DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE
In March 2011, Alliant Energy sold its Industrial Energy Applications, Inc. (IEA) business to narrow its strategic focus and risk profile and received net proceeds of $5 million. In June 2011, RMT sold its environmental business unit and received net proceeds of $12 million.

Alliant Energy is currently pursuing the disposal of the remainder of its RMT business in order to narrow its strategic focus and risk profile. Alliant Energy currently expects to complete the disposal of RMT in 2012. The RMT business qualified as assets and liabilities held for sale as of September 30, 2012.

The operating results of RMT and IEA have been separately classified and reported as discontinued operations in Alliant Energy’s Condensed Consolidated Statements of Income. A summary of the components of discontinued operations in Alliant Energy’s Condensed Consolidated Statements of Income for the three and nine months ended September 30 was as follows (in millions):
 
Three Months
 
Nine Months
 
2012
 
2011
 
2012
 
2011
Operating revenues

$94.5

 

$150.7

 

$243.0

 

$326.6

Operating expenses
91.7

 
175.0

 
246.6

 
346.0

Interest expense and other
0.2

 
(0.2
)
 
0.4

 
(0.1
)
Income (loss) before income taxes
2.6

 
(24.1
)
 
(4.0
)
 
(19.3
)
Income tax expense (benefit)
0.9

 
(9.2
)
 
(1.7
)
 
(6.7
)
Income (loss) from discontinued operations, net of tax

$1.7

 

($14.9
)
 

($2.3
)
 

($12.6
)


A summary of the assets and liabilities held for sale on Alliant Energy’s Condensed Consolidated Balance Sheets was as follows (in millions):
 
September 30, 2012
 
December 31, 2011
Assets held for sale:
 
 
 
Property, plant and equipment, net

$—

 

$3.8

Current assets
51.1

 
115.5

Other assets
0.3

 
0.3

Total assets held for sale
51.4

 
119.6

Liabilities held for sale:
 
 
 
Current liabilities
66.0

 
62.0

Other long-term liabilities and deferred credits
0.1

 
0.1

Total liabilities held for sale
66.1

 
62.1

Net assets (liabilities) held for sale

($14.7
)
 

$57.5



A summary of the components of cash flows for discontinued operations for the nine months ended September 30 was as follows (in millions):
 
2012
 
2011
Net cash flows from (used for) operating activities

$72.0

 

($79.5
)
Net cash flows from (used for) investing activities
(0.2
)
 
11.6

Net cash flows from (used for) financing activities (a)
(71.7
)
 
49.6


(a)
Includes intercompany borrowings.