v2.4.0.6
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Carrying Amount and Fair Value of Financial Instruments
Carrying amounts and the related estimated fair values of other financial instruments at December 31 were as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
2012
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Derivative assets (Note 12)

$26.2

 

$26.2

 

$17.5

 

$17.5

 

$8.7

 

$8.7

Deferred proceeds (sales of receivables) (Note 4(a))
66.8

 
66.8

 
66.8

 
66.8

 
—

 
—

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities) (Note 9(b))
3,138.1

 
3,860.5

 
1,359.5

 
1,679.9

 
1,331.5

 
1,713.3

Cumulative preferred stock of subsidiaries (Note 8)
205.1

 
212.6

 
145.1

 
151.8

 
60.0

 
60.8

Derivative liabilities (Note 12)
40.4

 
40.4

 
16.1

 
16.1

 
24.3

 
24.3

2011
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Derivative assets (Note 12)
15.7

 
15.7

 
10.6

 
10.6

 
5.1

 
5.1

Deferred proceeds (sales of receivables) (Note 4(a))
53.7

 
53.7

 
53.7

 
53.7

 
—

 
—

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities) (Note 9(b))
2,704.5

 
3,325.3

 
1,309.0

 
1,560.4

 
1,082.2

 
1,439.0

Cumulative preferred stock of subsidiaries (Note 8)
205.1

 
222.5

 
145.1

 
164.3

 
60.0

 
58.2

Derivative liabilities (Note 12)
78.0

 
78.0

 
33.6

 
33.6

 
44.4

 
44.4
Recurring Fair Value Measurements
Items subject to fair value measurement disclosure requirements were as follows (Not Applicable (N/A); in millions):
Alliant Energy
2012
 
2011
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives - commodity contracts

$26.2

 

$—

 

$4.8

 

$21.4

 

$15.7

 

$—

 

$3.4

 

$12.3

Deferred proceeds
66.8

 
—

 
—

 
66.8

 
53.7

 
—

 
—

 
53.7

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities)
3,860.5

 
—

 
3,860.0

 
0.5

 
N/A

 
N/A

 
N/A

 
N/A

Cumulative preferred stock of subsidiaries
212.6

 
162.3

 
50.3

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Derivatives - commodity contracts
40.4

 
—

 
30.9

 
9.5

 
78.0

 
—

 
64.8

 
13.2

IPL
2012
 
2011
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives - commodity contracts

$17.5

 

$—

 

$3.1

 

$14.4

 

$10.6

 

$—

 

$1.3

 

$9.3

Deferred proceeds
66.8

 
—

 
—

 
66.8

 
53.7

 
—

 
—

 
53.7

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities)
1,679.9

 
—

 
1,679.9

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Cumulative preferred stock
151.8

 
151.8

 
—

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Derivatives - commodity contracts
16.1

 
—

 
14.2

 
1.9

 
33.6

 
—

 
28.6

 
5.0

WPL
2012
 
2011
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives - commodity contracts

$8.7

 

$—

 

$1.7

 

$7.0

 

$5.1

 

$—

 

$2.1

 

$3.0

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities)
1,713.3

 
—

 
1,713.3

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Cumulative preferred stock
60.8

 
10.5

 
50.3

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Derivatives - commodity contracts
24.3

 
—

 
16.7

 
7.6

 
44.4

 
—

 
36.2

 
8.2
Fair Value Measurements Using Significant Unobservable Inputs
Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):
Alliant Energy
Commodity Contract
 
 
 
Derivative Assets and
 
 
 
(Liabilities), net
 
Deferred Proceeds
 
2012
 
2011
 
2012
 
2011
Beginning balance, January 1

($0.9
)
 

$2.8

 

$53.7

 

$152.9

Total net losses (realized/unrealized) included in changes in net assets (a)
(7.6
)
 
(7.3
)
 
—

 
—

Transfers into Level 3 (b)
(1.1
)
 
0.2

 
—

 
—

Transfers out of Level 3 (c)
8.3

 
—

 
—

 
—

Purchases
35.8

 
21.8

 
—

 
—

Settlements (d)
(22.6
)
 
(18.4
)
 
13.1

 
(99.2
)
Ending balance, December 31

$11.9

 

($0.9
)
 

$66.8

 

$53.7

The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 (a)

($2.6
)
 

($7.3
)
 

$—

 

$—

IPL
Commodity Contract
 
 
 
Derivative Assets and
 
 
 
(Liabilities), net
 
Deferred Proceeds
 
2012
 
2011
 
2012
 
2011
Beginning balance, January 1

$4.3

 

$4.3

 

$53.7

 

$152.9

Total net losses (realized/unrealized) included in changes in net assets (a)
(3.5
)
 
(3.1
)
 
—

 
—

Transfers into Level 3 (b)
(1.1
)
 
—

 
—

 
—

Transfers out of Level 3 (c)
2.4

 
—

 
—

 
—

Purchases
26.8

 
18.1

 
—

 
—

Settlements (d)
(16.4
)
 
(15.0
)
 
13.1

 
(99.2
)
Ending balance, December 31

$12.5

 

$4.3

 

$66.8

 

$53.7

The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 (a)

$1.5

 

($3.1
)
 

$—

 

$—

WPL
Commodity Contract
 
Derivative Assets and
 
(Liabilities), net
 
2012
 
2011
Beginning balance, January 1

($5.2
)
 

($1.5
)
Total net losses (realized/unrealized) included in changes in net assets (a)
(4.1
)
 
(4.2
)
Transfers into Level 3 (b)
—

 
0.2

Transfers out of Level 3 (c)
5.9

 
—

Purchases
9.0

 
3.7

Settlements
(6.2
)
 
(3.4
)
Ending balance, December 31

($0.6
)
 

($5.2
)
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 (a)

($4.1
)
 

($4.2
)

(a)
Gains and losses related to derivative assets and derivative liabilities are generally recorded in “Regulatory assets” and “Regulatory liabilities” on the Consolidated Balance Sheets.
(b)
Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period.
(c)
Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period.
(d)
Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash proceeds received from the receivables sold.
IPL [Member]
  
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Carrying Amount and Fair Value of Financial Instruments
Carrying amounts and the related estimated fair values of other financial instruments at December 31 were as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
2012
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Derivative assets (Note 12)

$26.2

 

$26.2

 

$17.5

 

$17.5

 

$8.7

 

$8.7

Deferred proceeds (sales of receivables) (Note 4(a))
66.8

 
66.8

 
66.8

 
66.8

 
—

 
—

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities) (Note 9(b))
3,138.1

 
3,860.5

 
1,359.5

 
1,679.9

 
1,331.5

 
1,713.3

Cumulative preferred stock of subsidiaries (Note 8)
205.1

 
212.6

 
145.1

 
151.8

 
60.0

 
60.8

Derivative liabilities (Note 12)
40.4

 
40.4

 
16.1

 
16.1

 
24.3

 
24.3

2011
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Derivative assets (Note 12)
15.7

 
15.7

 
10.6

 
10.6

 
5.1

 
5.1

Deferred proceeds (sales of receivables) (Note 4(a))
53.7

 
53.7

 
53.7

 
53.7

 
—

 
—

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities) (Note 9(b))
2,704.5

 
3,325.3

 
1,309.0

 
1,560.4

 
1,082.2

 
1,439.0

Cumulative preferred stock of subsidiaries (Note 8)
205.1

 
222.5

 
145.1

 
164.3

 
60.0

 
58.2

Derivative liabilities (Note 12)
78.0

 
78.0

 
33.6

 
33.6

 
44.4

 
44.4
Recurring Fair Value Measurements
Items subject to fair value measurement disclosure requirements were as follows (Not Applicable (N/A); in millions):
Alliant Energy
2012
 
2011
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives - commodity contracts

$26.2

 

$—

 

$4.8

 

$21.4

 

$15.7

 

$—

 

$3.4

 

$12.3

Deferred proceeds
66.8

 
—

 
—

 
66.8

 
53.7

 
—

 
—

 
53.7

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities)
3,860.5

 
—

 
3,860.0

 
0.5

 
N/A

 
N/A

 
N/A

 
N/A

Cumulative preferred stock of subsidiaries
212.6

 
162.3

 
50.3

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Derivatives - commodity contracts
40.4

 
—

 
30.9

 
9.5

 
78.0

 
—

 
64.8

 
13.2

IPL
2012
 
2011
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives - commodity contracts

$17.5

 

$—

 

$3.1

 

$14.4

 

$10.6

 

$—

 

$1.3

 

$9.3

Deferred proceeds
66.8

 
—

 
—

 
66.8

 
53.7

 
—

 
—

 
53.7

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities)
1,679.9

 
—

 
1,679.9

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Cumulative preferred stock
151.8

 
151.8

 
—

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Derivatives - commodity contracts
16.1

 
—

 
14.2

 
1.9

 
33.6

 
—

 
28.6

 
5.0

WPL
2012
 
2011
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives - commodity contracts

$8.7

 

$—

 

$1.7

 

$7.0

 

$5.1

 

$—

 

$2.1

 

$3.0

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities)
1,713.3

 
—

 
1,713.3

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Cumulative preferred stock
60.8

 
10.5

 
50.3

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Derivatives - commodity contracts
24.3

 
—

 
16.7

 
7.6

 
44.4

 
—

 
36.2

 
8.2
Fair Value Measurements Using Significant Unobservable Inputs
Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):
Alliant Energy
Commodity Contract
 
 
 
Derivative Assets and
 
 
 
(Liabilities), net
 
Deferred Proceeds
 
2012
 
2011
 
2012
 
2011
Beginning balance, January 1

($0.9
)
 

$2.8

 

$53.7

 

$152.9

Total net losses (realized/unrealized) included in changes in net assets (a)
(7.6
)
 
(7.3
)
 
—

 
—

Transfers into Level 3 (b)
(1.1
)
 
0.2

 
—

 
—

Transfers out of Level 3 (c)
8.3

 
—

 
—

 
—

Purchases
35.8

 
21.8

 
—

 
—

Settlements (d)
(22.6
)
 
(18.4
)
 
13.1

 
(99.2
)
Ending balance, December 31

$11.9

 

($0.9
)
 

$66.8

 

$53.7

The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 (a)

($2.6
)
 

($7.3
)
 

$—

 

$—

IPL
Commodity Contract
 
 
 
Derivative Assets and
 
 
 
(Liabilities), net
 
Deferred Proceeds
 
2012
 
2011
 
2012
 
2011
Beginning balance, January 1

$4.3

 

$4.3

 

$53.7

 

$152.9

Total net losses (realized/unrealized) included in changes in net assets (a)
(3.5
)
 
(3.1
)
 
—

 
—

Transfers into Level 3 (b)
(1.1
)
 
—

 
—

 
—

Transfers out of Level 3 (c)
2.4

 
—

 
—

 
—

Purchases
26.8

 
18.1

 
—

 
—

Settlements (d)
(16.4
)
 
(15.0
)
 
13.1

 
(99.2
)
Ending balance, December 31

$12.5

 

$4.3

 

$66.8

 

$53.7

The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 (a)

$1.5

 

($3.1
)
 

$—

 

$—

WPL
Commodity Contract
 
Derivative Assets and
 
(Liabilities), net
 
2012
 
2011
Beginning balance, January 1

($5.2
)
 

($1.5
)
Total net losses (realized/unrealized) included in changes in net assets (a)
(4.1
)
 
(4.2
)
Transfers into Level 3 (b)
—

 
0.2

Transfers out of Level 3 (c)
5.9

 
—

Purchases
9.0

 
3.7

Settlements
(6.2
)
 
(3.4
)
Ending balance, December 31

($0.6
)
 

($5.2
)
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 (a)

($4.1
)
 

($4.2
)

(a)
Gains and losses related to derivative assets and derivative liabilities are generally recorded in “Regulatory assets” and “Regulatory liabilities” on the Consolidated Balance Sheets.
(b)
Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period.
(c)
Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period.
(d)
Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash proceeds received from the receivables sold.
WPL [Member]
  
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Carrying Amount and Fair Value of Financial Instruments
Carrying amounts and the related estimated fair values of other financial instruments at December 31 were as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
2012
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Derivative assets (Note 12)

$26.2

 

$26.2

 

$17.5

 

$17.5

 

$8.7

 

$8.7

Deferred proceeds (sales of receivables) (Note 4(a))
66.8

 
66.8

 
66.8

 
66.8

 
—

 
—

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities) (Note 9(b))
3,138.1

 
3,860.5

 
1,359.5

 
1,679.9

 
1,331.5

 
1,713.3

Cumulative preferred stock of subsidiaries (Note 8)
205.1

 
212.6

 
145.1

 
151.8

 
60.0

 
60.8

Derivative liabilities (Note 12)
40.4

 
40.4

 
16.1

 
16.1

 
24.3

 
24.3

2011
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Derivative assets (Note 12)
15.7

 
15.7

 
10.6

 
10.6

 
5.1

 
5.1

Deferred proceeds (sales of receivables) (Note 4(a))
53.7

 
53.7

 
53.7

 
53.7

 
—

 
—

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities) (Note 9(b))
2,704.5

 
3,325.3

 
1,309.0

 
1,560.4

 
1,082.2

 
1,439.0

Cumulative preferred stock of subsidiaries (Note 8)
205.1

 
222.5

 
145.1

 
164.3

 
60.0

 
58.2

Derivative liabilities (Note 12)
78.0

 
78.0

 
33.6

 
33.6

 
44.4

 
44.4
Recurring Fair Value Measurements
Items subject to fair value measurement disclosure requirements were as follows (Not Applicable (N/A); in millions):
Alliant Energy
2012
 
2011
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives - commodity contracts

$26.2

 

$—

 

$4.8

 

$21.4

 

$15.7

 

$—

 

$3.4

 

$12.3

Deferred proceeds
66.8

 
—

 
—

 
66.8

 
53.7

 
—

 
—

 
53.7

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities)
3,860.5

 
—

 
3,860.0

 
0.5

 
N/A

 
N/A

 
N/A

 
N/A

Cumulative preferred stock of subsidiaries
212.6

 
162.3

 
50.3

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Derivatives - commodity contracts
40.4

 
—

 
30.9

 
9.5

 
78.0

 
—

 
64.8

 
13.2

IPL
2012
 
2011
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives - commodity contracts

$17.5

 

$—

 

$3.1

 

$14.4

 

$10.6

 

$—

 

$1.3

 

$9.3

Deferred proceeds
66.8

 
—

 
—

 
66.8

 
53.7

 
—

 
—

 
53.7

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities)
1,679.9

 
—

 
1,679.9

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Cumulative preferred stock
151.8

 
151.8

 
—

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Derivatives - commodity contracts
16.1

 
—

 
14.2

 
1.9

 
33.6

 
—

 
28.6

 
5.0

WPL
2012
 
2011
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives - commodity contracts

$8.7

 

$—

 

$1.7

 

$7.0

 

$5.1

 

$—

 

$2.1

 

$3.0

Capitalization and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (including current maturities)
1,713.3

 
—

 
1,713.3

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Cumulative preferred stock
60.8

 
10.5

 
50.3

 
—

 
N/A

 
N/A

 
N/A

 
N/A

Derivatives - commodity contracts
24.3

 
—

 
16.7

 
7.6

 
44.4

 
—

 
36.2

 
8.2
Fair Value Measurements Using Significant Unobservable Inputs
Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):
Alliant Energy
Commodity Contract
 
 
 
Derivative Assets and
 
 
 
(Liabilities), net
 
Deferred Proceeds
 
2012
 
2011
 
2012
 
2011
Beginning balance, January 1

($0.9
)
 

$2.8

 

$53.7

 

$152.9

Total net losses (realized/unrealized) included in changes in net assets (a)
(7.6
)
 
(7.3
)
 
—

 
—

Transfers into Level 3 (b)
(1.1
)
 
0.2

 
—

 
—

Transfers out of Level 3 (c)
8.3

 
—

 
—

 
—

Purchases
35.8

 
21.8

 
—

 
—

Settlements (d)
(22.6
)
 
(18.4
)
 
13.1

 
(99.2
)
Ending balance, December 31

$11.9

 

($0.9
)
 

$66.8

 

$53.7

The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 (a)

($2.6
)
 

($7.3
)
 

$—

 

$—

IPL
Commodity Contract
 
 
 
Derivative Assets and
 
 
 
(Liabilities), net
 
Deferred Proceeds
 
2012
 
2011
 
2012
 
2011
Beginning balance, January 1

$4.3

 

$4.3

 

$53.7

 

$152.9

Total net losses (realized/unrealized) included in changes in net assets (a)
(3.5
)
 
(3.1
)
 
—

 
—

Transfers into Level 3 (b)
(1.1
)
 
—

 
—

 
—

Transfers out of Level 3 (c)
2.4

 
—

 
—

 
—

Purchases
26.8

 
18.1

 
—

 
—

Settlements (d)
(16.4
)
 
(15.0
)
 
13.1

 
(99.2
)
Ending balance, December 31

$12.5

 

$4.3

 

$66.8

 

$53.7

The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at December 31 (a)

$1.5

 

($3.1
)
 

$—

 

$—

WPL
Commodity Contract
 
Derivative Assets and
 
(Liabilities), net
 
2012
 
2011
Beginning balance, January 1

($5.2
)
 

($1.5
)
Total net losses (realized/unrealized) included in changes in net assets (a)
(4.1
)
 
(4.2
)
Transfers into Level 3 (b)
—

 
0.2

Transfers out of Level 3 (c)
5.9

 
—

Purchases
9.0

 
3.7

Settlements
(6.2
)
 
(3.4
)
Ending balance, December 31

($0.6
)
 

($5.2
)
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at December 31 (a)

($4.1
)
 

($4.2
)

(a)
Gains and losses related to derivative assets and derivative liabilities are generally recorded in “Regulatory assets” and “Regulatory liabilities” on the Consolidated Balance Sheets.
(b)
Markets for similar assets and liabilities became inactive and observable market inputs became unavailable for transfers into Level 3. The transfers were valued as of the beginning of the period.
(c)
Observable market inputs became available for certain commodity contracts previously classified as Level 3 for transfers out of Level 3. The transfers were valued as of the beginning of the period.
(d)
Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for doubtful accounts associated with the receivables sold and cash proceeds received from the receivables sold.