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Benefit Plans | 3 Months Ended
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Mar. 31, 2013
Benefit Plans | BENEFIT PLANS (a) Pension and Other Postretirement Benefits Plans - Net Periodic Benefit Costs (Credits) - The components of net periodic benefit costs (credits) for Alliant Energy’s, IPL’s and WPL’s sponsored defined benefit pension and other postretirement benefits plans for the three months ended March 31 are included in the tables below (in millions). In the “IPL” and “WPL” tables below, the defined benefit pension plans costs represent those respective costs for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to IPL’s and WPL’s current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. Also in the “IPL” and “WPL” tables below, the other postretirement benefits plans costs (credits) represent costs (credits) for all IPL and WPL employees, respectively.
Alliant Energy | Defined Benefit Pension Plans |  | Other Postretirement Benefits Plans
2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $3.9 |  |  |  | $3.3 |  |  |  | $1.6 |  |  |  | $1.7 |
Interest cost | 12.3 |  |  | 13.0 |  |  | 2.1 |  |  | 2.6 |
Expected return on plan assets | (18.5 | ) |  | (17.2 | ) |  | (2.0 | ) |  | (1.9 | )
Amortization of prior service cost (credit) | 0.1 |  |  | 0.1 |  |  | (3.0 | ) |  | (3.0 | )
Amortization of actuarial loss | 9.0 |  |  | 8.3 |  |  | 1.2 |  |  | 1.6 |
|  | $6.8 |  |  |  | $7.5 |  |  |  | ($0.1 | ) |  |  | $1.0 |
IPL | Defined Benefit Pension Plans |  | Other Postretirement Benefits Plans
2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $2.2 |  |  |  | $1.9 |  |  |  | $0.7 |  |  |  | $0.8 |
Interest cost | 5.7 |  |  | 6.1 |  |  | 0.9 |  |  | 1.1 |
Expected return on plan assets | (8.8 | ) |  | (8.2 | ) |  | (1.4 | ) |  | (1.3 | )
Amortization of prior service credit | — |  |  | — |  |  | (1.6 | ) |  | (1.6 | )
Amortization of actuarial loss | 3.8 |  |  | 3.5 |  |  | 0.7 |  |  | 0.9 |
|  | $2.9 |  |  |  | $3.3 |  |  |  | ($0.7 | ) |  |  | ($0.1 | )
WPL | Defined Benefit Pension Plans |  | Other Postretirement Benefits Plans
2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $1.4 |  |  |  | $1.3 |  |  |  | $0.6 |  |  |  | $0.7 |
Interest cost | 5.2 |  |  | 5.4 |  |  | 0.8 |  |  | 1.0 |
Expected return on plan assets | (8.0 | ) |  | (7.4 | ) |  | (0.3 | ) |  | (0.3 | )
Amortization of prior service cost (credit) | 0.1 |  |  | — |  |  | (1.0 | ) |  | (1.0 | )
Amortization of actuarial loss | 4.3 |  |  | 4.0 |  |  | 0.5 |  |  | 0.6 |
|  | $3.0 |  |  |  | $3.3 |  |  |  | $0.6 |  |  |  | $1.0 |
Corporate Services provides services to IPL and WPL and, as a result, IPL and WPL are allocated pension and other postretirement benefits costs (credits) associated with Corporate Services employees. The following table includes the allocated qualified and non-qualified pension and other postretirement benefits costs (credits) associated with Corporate Services employees providing services to IPL and WPL for the three months ended March 31 (in millions):
| Pension Benefits Costs |  | Other Postretirement Benefits Credits
| 2013 |  | 2012 |  | 2013 |  | 2012
IPL |  | $0.5 |  |  |  | $0.5 |  |  |  | ($0.1 | ) |  |  | $— |
WPL | 0.3 |  |  | 0.3 |  |  | — |  |  | — |
Estimated Future and Actual Employer Contributions - Estimated and actual funding for the qualified and non-qualified defined benefit pension and other postretirement benefits plans for 2013 are as follows (in millions):
| Estimated for Calendar Year 2013 |  | Actual Through March 31, 2013
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Defined benefit pension plans (a) |  | $2.4 |  |  |  | $0.8 |  |  |  | $0.2 |  |  |  | $0.9 |  |  |  | $0.3 |  |  |  | $0.1 |
Other postretirement benefits plans | 3.0 |  |  | — |  |  | 3.0 |  |  | — |  |  | — |  |  | — |
(a) | Alliant Energy sponsors several non-qualified defined benefit pension plans that cover certain current and former key employees of IPL and WPL. Alliant Energy allocates pension costs to IPL and WPL for these plans. In addition, IPL and WPL amounts reflect funding for their non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans.
Cash Balance Plan - Refer to Note 12(c) for discussion of a class-action lawsuit filed against the Cash Balance Plan in 2008. 401(k) Savings Plans - A significant number of Alliant Energy, IPL and WPL employees participate in defined contribution retirement plans (401(k) savings plans). For the three months ended March 31, costs related to the 401(k) savings plans, which are partially based on the participants’ level of contribution, were as follows (in millions):
| Alliant Energy |  | IPL (a) |  | WPL (a)
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
401(k) costs |  | $5.4 |  |  |  | $5.2 |  |  |  | $2.8 |  |  |  | $2.7 |  |  |  | $2.3 |  |  |  | $2.3 |
(a) | IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees.
(b) Equity-based Compensation Plans - A summary of compensation expense and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
Compensation expense |  | $2.7 |  |  |  | $1.6 |  |  |  | $1.4 |  |  |  | $0.8 |  |  |  | $1.1 |  |  |  | $0.7 |
Income tax benefits | 1.1 |  |  | 0.6 |  |  | 0.6 |  |  | 0.3 |  |  | 0.5 |  |  | 0.3 |
As of March 31, 2013, total unrecognized compensation cost related to share-based compensation awards was $12.3 million, which is expected to be recognized over a weighted average period of between 1 and 2 years. Share-based compensation expense is recognized on a straight-line basis over the requisite service periods and is primarily recorded in “Utility - Other operation and maintenance” in the Condensed Consolidated Statements of Income. Performance Shares and Units - Alliant Energy assumes it will make future payouts of its performance shares and units in cash; therefore, performance shares and units are accounted for as liability awards. Performance Shares - A summary of the performance shares activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Shares (a) |  | Shares (a)
Nonvested shares, January 1 | 145,277 |  |  | 236,979 |
Granted | 49,093 |  |  | 45,612 |
Vested (b) | (54,430 | ) |  | (111,980 | )
Nonvested shares, March 31 | 139,940 |  |  | 170,611 |
(a) | Share amounts represent the target number of performance shares. Each performance share’s value is based on the price of one share of Alliant Energy’s common stock at the end of the performance period. The actual number of shares that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of shares.
(b) | In the first quarter of 2013, 54,430 performance shares granted in 2010 vested at 197.5% of the target, resulting in payouts valued at $4.8 million, which consisted of a combination of cash and common stock (4,177 shares). In the first quarter of 2012, 111,980 performance shares granted in 2009 vested at 162.5% of the target, resulting in payouts valued at $8.0 million, which consisted of a combination of cash and common stock (6,399 shares).
Performance Units - A summary of the performance unit activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Units (a) |  | Units (a)
Nonvested units, January 1 | 64,969 |  |  | 42,996 |
Granted | 22,201 |  |  | 24,686 |
Vested (b) | (19,760 | ) |  | — |
Forfeited | (1,013 | ) |  | (878 | )
Nonvested units, March 31 | 66,397 |  |  | 66,804 |
(a) | Unit amounts represent the target number of performance units. Each performance unit’s value is based on the closing price of one share of Alliant Energy’s common stock on the grant date of the award. The actual payout for performance units is dependent upon actual performance and may range from zero to 200% of the target number of units.
(b) | In the first quarter of 2013, 19,760 performance units granted in 2010 vested at 197.5% of the target, resulting in cash payouts valued at $1.3 million.
Fair Value of Awards - Information related to fair values of nonvested performance shares and units at March 31, 2013 by year of grant were as follows:
| Performance Shares |  | Performance Units
| 2013 Grant |  | 2012 Grant |  | 2011 Grant |  | 2013 Grant |  | 2012 Grant |  | 2011 Grant
Nonvested awards | 49,093 |  |  | 45,612 |  |  | 45,235 |  |  | 22,201 |  |  | 23,392 |  |  | 20,804 |
Alliant Energy common stock closing price on March 31, 2013 |  | $50.18 |  |  |  | $50.18 |  |  |  | $50.18 |  |  |  |  |  |  |
Alliant Energy common stock closing price on grant date |  |  |  |  |  |  |  | $47.58 |  |  |  | $43.05 |  |  |  | $38.75 |
Estimated payout percentage based on performance criteria | 97 | % |  | 92 | % |  | 112 | % |  | 97 | % |  | 92 | % |  | 112 | %
Fair values of each nonvested award |  | $48.67 |  |  |  | $46.17 |  |  |  | $56.20 |  |  |  | $46.15 |  |  |  | $39.61 |  |  |  | $43.40 |
At March 31, 2013, fair values of nonvested performance shares and units were calculated using a Monte Carlo simulation to determine the anticipated total shareowner returns of Alliant Energy and its investor-owned utility peer groups. Expected volatility was based on historical volatilities using daily stock prices over the past three years. Expected dividend yields were calculated based on the most recent quarterly dividend rates announced prior to the measurement date and stock prices at the measurement date. The risk-free interest rate was based on the three-year U.S. Treasury rate in effect as of the measurement date. Performance-contingent Restricted Stock - A summary of the performance-contingent restricted stock activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Shares |  | Weighted Average Fair Value |  | Shares |  | Weighted Average Fair Value
Nonvested shares, January 1 | 211,651 |  |  |  | $32.42 |  |  | 301,738 |  |  |  | $32.60 |
Granted | 49,093 |  |  | 47.58 |  |  | 45,612 |  |  | 43.05 |
Vested (a) | — |  |  | — |  |  | (65,172 | ) |  | 32.56 |
Forfeited (b) | (101,822 | ) |  | 23.67 |  |  | (70,527 | ) |  | 39.93 |
Nonvested shares, March 31 | 158,922 |  |  | 42.71 |  |  | 211,651 |  |  | 32.42 |
(a) | In 2012, 65,172 performance-contingent restricted shares granted in 2010 vested because the specified performance criteria for such shares were met.
(b) | In 2013 and 2012, 101,822 and 65,516 performance-contingent restricted shares granted in 2009 and 2008, respectively, were forfeited because the specified performance criteria for such shares were not met. The remaining forfeitures during 2012 were primarily caused by retirements and terminations of participants.
Performance Contingent Cash Awards - A summary of the performance contingent cash awards activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Awards |  | Awards
Nonvested awards, January 1 | 59,639 |  |  | 46,676 |
Granted | 39,530 |  |  | 36,936 |
Vested (a) | — |  |  | (21,605 | )
Forfeited | — |  |  | (1,533 | )
Nonvested awards, March 31 | 99,169 |  |  | 60,474 |
(a) | In the first quarter of 2012, 21,605 performance contingent cash awards granted in 2010 vested, resulting in cash payouts valued at $0.9 million.
IPL [Member] |
Benefit Plans | BENEFIT PLANS (a) Pension and Other Postretirement Benefits Plans - Net Periodic Benefit Costs (Credits) - The components of net periodic benefit costs (credits) for Alliant Energy’s, IPL’s and WPL’s sponsored defined benefit pension and other postretirement benefits plans for the three months ended March 31 are included in the tables below (in millions). In the “IPL” and “WPL” tables below, the defined benefit pension plans costs represent those respective costs for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to IPL’s and WPL’s current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. Also in the “IPL” and “WPL” tables below, the other postretirement benefits plans costs (credits) represent costs (credits) for all IPL and WPL employees, respectively.
Alliant Energy | Defined Benefit Pension Plans |  | Other Postretirement Benefits Plans
2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $3.9 |  |  |  | $3.3 |  |  |  | $1.6 |  |  |  | $1.7 |
Interest cost | 12.3 |  |  | 13.0 |  |  | 2.1 |  |  | 2.6 |
Expected return on plan assets | (18.5 | ) |  | (17.2 | ) |  | (2.0 | ) |  | (1.9 | )
Amortization of prior service cost (credit) | 0.1 |  |  | 0.1 |  |  | (3.0 | ) |  | (3.0 | )
Amortization of actuarial loss | 9.0 |  |  | 8.3 |  |  | 1.2 |  |  | 1.6 |
|  | $6.8 |  |  |  | $7.5 |  |  |  | ($0.1 | ) |  |  | $1.0 |
IPL | Defined Benefit Pension Plans |  | Other Postretirement Benefits Plans
2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $2.2 |  |  |  | $1.9 |  |  |  | $0.7 |  |  |  | $0.8 |
Interest cost | 5.7 |  |  | 6.1 |  |  | 0.9 |  |  | 1.1 |
Expected return on plan assets | (8.8 | ) |  | (8.2 | ) |  | (1.4 | ) |  | (1.3 | )
Amortization of prior service credit | — |  |  | — |  |  | (1.6 | ) |  | (1.6 | )
Amortization of actuarial loss | 3.8 |  |  | 3.5 |  |  | 0.7 |  |  | 0.9 |
|  | $2.9 |  |  |  | $3.3 |  |  |  | ($0.7 | ) |  |  | ($0.1 | )
WPL | Defined Benefit Pension Plans |  | Other Postretirement Benefits Plans
2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $1.4 |  |  |  | $1.3 |  |  |  | $0.6 |  |  |  | $0.7 |
Interest cost | 5.2 |  |  | 5.4 |  |  | 0.8 |  |  | 1.0 |
Expected return on plan assets | (8.0 | ) |  | (7.4 | ) |  | (0.3 | ) |  | (0.3 | )
Amortization of prior service cost (credit) | 0.1 |  |  | — |  |  | (1.0 | ) |  | (1.0 | )
Amortization of actuarial loss | 4.3 |  |  | 4.0 |  |  | 0.5 |  |  | 0.6 |
|  | $3.0 |  |  |  | $3.3 |  |  |  | $0.6 |  |  |  | $1.0 |
Corporate Services provides services to IPL and WPL and, as a result, IPL and WPL are allocated pension and other postretirement benefits costs (credits) associated with Corporate Services employees. The following table includes the allocated qualified and non-qualified pension and other postretirement benefits costs (credits) associated with Corporate Services employees providing services to IPL and WPL for the three months ended March 31 (in millions):
| Pension Benefits Costs |  | Other Postretirement Benefits Credits
| 2013 |  | 2012 |  | 2013 |  | 2012
IPL |  | $0.5 |  |  |  | $0.5 |  |  |  | ($0.1 | ) |  |  | $— |
WPL | 0.3 |  |  | 0.3 |  |  | — |  |  | — |
Estimated Future and Actual Employer Contributions - Estimated and actual funding for the qualified and non-qualified defined benefit pension and other postretirement benefits plans for 2013 are as follows (in millions):
| Estimated for Calendar Year 2013 |  | Actual Through March 31, 2013
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Defined benefit pension plans (a) |  | $2.4 |  |  |  | $0.8 |  |  |  | $0.2 |  |  |  | $0.9 |  |  |  | $0.3 |  |  |  | $0.1 |
Other postretirement benefits plans | 3.0 |  |  | — |  |  | 3.0 |  |  | — |  |  | — |  |  | — |
(a) | Alliant Energy sponsors several non-qualified defined benefit pension plans that cover certain current and former key employees of IPL and WPL. Alliant Energy allocates pension costs to IPL and WPL for these plans. In addition, IPL and WPL amounts reflect funding for their non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans.
Cash Balance Plan - Refer to Note 12(c) for discussion of a class-action lawsuit filed against the Cash Balance Plan in 2008. 401(k) Savings Plans - A significant number of Alliant Energy, IPL and WPL employees participate in defined contribution retirement plans (401(k) savings plans). For the three months ended March 31, costs related to the 401(k) savings plans, which are partially based on the participants’ level of contribution, were as follows (in millions):
| Alliant Energy |  | IPL (a) |  | WPL (a)
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
401(k) costs |  | $5.4 |  |  |  | $5.2 |  |  |  | $2.8 |  |  |  | $2.7 |  |  |  | $2.3 |  |  |  | $2.3 |
(a) | IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees.
(b) Equity-based Compensation Plans - A summary of compensation expense and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
Compensation expense |  | $2.7 |  |  |  | $1.6 |  |  |  | $1.4 |  |  |  | $0.8 |  |  |  | $1.1 |  |  |  | $0.7 |
Income tax benefits | 1.1 |  |  | 0.6 |  |  | 0.6 |  |  | 0.3 |  |  | 0.5 |  |  | 0.3 |
As of March 31, 2013, total unrecognized compensation cost related to share-based compensation awards was $12.3 million, which is expected to be recognized over a weighted average period of between 1 and 2 years. Share-based compensation expense is recognized on a straight-line basis over the requisite service periods and is primarily recorded in “Utility - Other operation and maintenance” in the Condensed Consolidated Statements of Income. Performance Shares and Units - Alliant Energy assumes it will make future payouts of its performance shares and units in cash; therefore, performance shares and units are accounted for as liability awards. Performance Shares - A summary of the performance shares activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Shares (a) |  | Shares (a)
Nonvested shares, January 1 | 145,277 |  |  | 236,979 |
Granted | 49,093 |  |  | 45,612 |
Vested (b) | (54,430 | ) |  | (111,980 | )
Nonvested shares, March 31 | 139,940 |  |  | 170,611 |
(a) | Share amounts represent the target number of performance shares. Each performance share’s value is based on the price of one share of Alliant Energy’s common stock at the end of the performance period. The actual number of shares that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of shares.
(b) | In the first quarter of 2013, 54,430 performance shares granted in 2010 vested at 197.5% of the target, resulting in payouts valued at $4.8 million, which consisted of a combination of cash and common stock (4,177 shares). In the first quarter of 2012, 111,980 performance shares granted in 2009 vested at 162.5% of the target, resulting in payouts valued at $8.0 million, which consisted of a combination of cash and common stock (6,399 shares).
Performance Units - A summary of the performance unit activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Units (a) |  | Units (a)
Nonvested units, January 1 | 64,969 |  |  | 42,996 |
Granted | 22,201 |  |  | 24,686 |
Vested (b) | (19,760 | ) |  | — |
Forfeited | (1,013 | ) |  | (878 | )
Nonvested units, March 31 | 66,397 |  |  | 66,804 |
(a) | Unit amounts represent the target number of performance units. Each performance unit’s value is based on the closing price of one share of Alliant Energy’s common stock on the grant date of the award. The actual payout for performance units is dependent upon actual performance and may range from zero to 200% of the target number of units.
(b) | In the first quarter of 2013, 19,760 performance units granted in 2010 vested at 197.5% of the target, resulting in cash payouts valued at $1.3 million.
Fair Value of Awards - Information related to fair values of nonvested performance shares and units at March 31, 2013 by year of grant were as follows:
| Performance Shares |  | Performance Units
| 2013 Grant |  | 2012 Grant |  | 2011 Grant |  | 2013 Grant |  | 2012 Grant |  | 2011 Grant
Nonvested awards | 49,093 |  |  | 45,612 |  |  | 45,235 |  |  | 22,201 |  |  | 23,392 |  |  | 20,804 |
Alliant Energy common stock closing price on March 31, 2013 |  | $50.18 |  |  |  | $50.18 |  |  |  | $50.18 |  |  |  |  |  |  |
Alliant Energy common stock closing price on grant date |  |  |  |  |  |  |  | $47.58 |  |  |  | $43.05 |  |  |  | $38.75 |
Estimated payout percentage based on performance criteria | 97 | % |  | 92 | % |  | 112 | % |  | 97 | % |  | 92 | % |  | 112 | %
Fair values of each nonvested award |  | $48.67 |  |  |  | $46.17 |  |  |  | $56.20 |  |  |  | $46.15 |  |  |  | $39.61 |  |  |  | $43.40 |
At March 31, 2013, fair values of nonvested performance shares and units were calculated using a Monte Carlo simulation to determine the anticipated total shareowner returns of Alliant Energy and its investor-owned utility peer groups. Expected volatility was based on historical volatilities using daily stock prices over the past three years. Expected dividend yields were calculated based on the most recent quarterly dividend rates announced prior to the measurement date and stock prices at the measurement date. The risk-free interest rate was based on the three-year U.S. Treasury rate in effect as of the measurement date. Performance-contingent Restricted Stock - A summary of the performance-contingent restricted stock activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Shares |  | Weighted Average Fair Value |  | Shares |  | Weighted Average Fair Value
Nonvested shares, January 1 | 211,651 |  |  |  | $32.42 |  |  | 301,738 |  |  |  | $32.60 |
Granted | 49,093 |  |  | 47.58 |  |  | 45,612 |  |  | 43.05 |
Vested (a) | — |  |  | — |  |  | (65,172 | ) |  | 32.56 |
Forfeited (b) | (101,822 | ) |  | 23.67 |  |  | (70,527 | ) |  | 39.93 |
Nonvested shares, March 31 | 158,922 |  |  | 42.71 |  |  | 211,651 |  |  | 32.42 |
(a) | In 2012, 65,172 performance-contingent restricted shares granted in 2010 vested because the specified performance criteria for such shares were met.
(b) | In 2013 and 2012, 101,822 and 65,516 performance-contingent restricted shares granted in 2009 and 2008, respectively, were forfeited because the specified performance criteria for such shares were not met. The remaining forfeitures during 2012 were primarily caused by retirements and terminations of participants.
Performance Contingent Cash Awards - A summary of the performance contingent cash awards activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Awards |  | Awards
Nonvested awards, January 1 | 59,639 |  |  | 46,676 |
Granted | 39,530 |  |  | 36,936 |
Vested (a) | — |  |  | (21,605 | )
Forfeited | — |  |  | (1,533 | )
Nonvested awards, March 31 | 99,169 |  |  | 60,474 |
(a) | In the first quarter of 2012, 21,605 performance contingent cash awards granted in 2010 vested, resulting in cash payouts valued at $0.9 million.
WPL [Member] |
Benefit Plans | BENEFIT PLANS (a) Pension and Other Postretirement Benefits Plans - Net Periodic Benefit Costs (Credits) - The components of net periodic benefit costs (credits) for Alliant Energy’s, IPL’s and WPL’s sponsored defined benefit pension and other postretirement benefits plans for the three months ended March 31 are included in the tables below (in millions). In the “IPL” and “WPL” tables below, the defined benefit pension plans costs represent those respective costs for IPL’s and WPL’s bargaining unit employees covered under the qualified plans that are sponsored by IPL and WPL, respectively, as well as amounts directly assigned to each of IPL and WPL related to IPL’s and WPL’s current and former non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans. Also in the “IPL” and “WPL” tables below, the other postretirement benefits plans costs (credits) represent costs (credits) for all IPL and WPL employees, respectively.
Alliant Energy | Defined Benefit Pension Plans |  | Other Postretirement Benefits Plans
2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $3.9 |  |  |  | $3.3 |  |  |  | $1.6 |  |  |  | $1.7 |
Interest cost | 12.3 |  |  | 13.0 |  |  | 2.1 |  |  | 2.6 |
Expected return on plan assets | (18.5 | ) |  | (17.2 | ) |  | (2.0 | ) |  | (1.9 | )
Amortization of prior service cost (credit) | 0.1 |  |  | 0.1 |  |  | (3.0 | ) |  | (3.0 | )
Amortization of actuarial loss | 9.0 |  |  | 8.3 |  |  | 1.2 |  |  | 1.6 |
|  | $6.8 |  |  |  | $7.5 |  |  |  | ($0.1 | ) |  |  | $1.0 |
IPL | Defined Benefit Pension Plans |  | Other Postretirement Benefits Plans
2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $2.2 |  |  |  | $1.9 |  |  |  | $0.7 |  |  |  | $0.8 |
Interest cost | 5.7 |  |  | 6.1 |  |  | 0.9 |  |  | 1.1 |
Expected return on plan assets | (8.8 | ) |  | (8.2 | ) |  | (1.4 | ) |  | (1.3 | )
Amortization of prior service credit | — |  |  | — |  |  | (1.6 | ) |  | (1.6 | )
Amortization of actuarial loss | 3.8 |  |  | 3.5 |  |  | 0.7 |  |  | 0.9 |
|  | $2.9 |  |  |  | $3.3 |  |  |  | ($0.7 | ) |  |  | ($0.1 | )
WPL | Defined Benefit Pension Plans |  | Other Postretirement Benefits Plans
2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $1.4 |  |  |  | $1.3 |  |  |  | $0.6 |  |  |  | $0.7 |
Interest cost | 5.2 |  |  | 5.4 |  |  | 0.8 |  |  | 1.0 |
Expected return on plan assets | (8.0 | ) |  | (7.4 | ) |  | (0.3 | ) |  | (0.3 | )
Amortization of prior service cost (credit) | 0.1 |  |  | — |  |  | (1.0 | ) |  | (1.0 | )
Amortization of actuarial loss | 4.3 |  |  | 4.0 |  |  | 0.5 |  |  | 0.6 |
|  | $3.0 |  |  |  | $3.3 |  |  |  | $0.6 |  |  |  | $1.0 |
Corporate Services provides services to IPL and WPL and, as a result, IPL and WPL are allocated pension and other postretirement benefits costs (credits) associated with Corporate Services employees. The following table includes the allocated qualified and non-qualified pension and other postretirement benefits costs (credits) associated with Corporate Services employees providing services to IPL and WPL for the three months ended March 31 (in millions):
| Pension Benefits Costs |  | Other Postretirement Benefits Credits
| 2013 |  | 2012 |  | 2013 |  | 2012
IPL |  | $0.5 |  |  |  | $0.5 |  |  |  | ($0.1 | ) |  |  | $— |
WPL | 0.3 |  |  | 0.3 |  |  | — |  |  | — |
Estimated Future and Actual Employer Contributions - Estimated and actual funding for the qualified and non-qualified defined benefit pension and other postretirement benefits plans for 2013 are as follows (in millions):
| Estimated for Calendar Year 2013 |  | Actual Through March 31, 2013
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Defined benefit pension plans (a) |  | $2.4 |  |  |  | $0.8 |  |  |  | $0.2 |  |  |  | $0.9 |  |  |  | $0.3 |  |  |  | $0.1 |
Other postretirement benefits plans | 3.0 |  |  | — |  |  | 3.0 |  |  | — |  |  | — |  |  | — |
(a) | Alliant Energy sponsors several non-qualified defined benefit pension plans that cover certain current and former key employees of IPL and WPL. Alliant Energy allocates pension costs to IPL and WPL for these plans. In addition, IPL and WPL amounts reflect funding for their non-bargaining employees who are participants in the Alliant Energy and Corporate Services sponsored qualified and non-qualified defined benefit pension plans.
Cash Balance Plan - Refer to Note 12(c) for discussion of a class-action lawsuit filed against the Cash Balance Plan in 2008. 401(k) Savings Plans - A significant number of Alliant Energy, IPL and WPL employees participate in defined contribution retirement plans (401(k) savings plans). For the three months ended March 31, costs related to the 401(k) savings plans, which are partially based on the participants’ level of contribution, were as follows (in millions):
| Alliant Energy |  | IPL (a) |  | WPL (a)
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
401(k) costs |  | $5.4 |  |  |  | $5.2 |  |  |  | $2.8 |  |  |  | $2.7 |  |  |  | $2.3 |  |  |  | $2.3 |
(a) | IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees.
(b) Equity-based Compensation Plans - A summary of compensation expense and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
Compensation expense |  | $2.7 |  |  |  | $1.6 |  |  |  | $1.4 |  |  |  | $0.8 |  |  |  | $1.1 |  |  |  | $0.7 |
Income tax benefits | 1.1 |  |  | 0.6 |  |  | 0.6 |  |  | 0.3 |  |  | 0.5 |  |  | 0.3 |
As of March 31, 2013, total unrecognized compensation cost related to share-based compensation awards was $12.3 million, which is expected to be recognized over a weighted average period of between 1 and 2 years. Share-based compensation expense is recognized on a straight-line basis over the requisite service periods and is primarily recorded in “Utility - Other operation and maintenance” in the Condensed Consolidated Statements of Income. Performance Shares and Units - Alliant Energy assumes it will make future payouts of its performance shares and units in cash; therefore, performance shares and units are accounted for as liability awards. Performance Shares - A summary of the performance shares activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Shares (a) |  | Shares (a)
Nonvested shares, January 1 | 145,277 |  |  | 236,979 |
Granted | 49,093 |  |  | 45,612 |
Vested (b) | (54,430 | ) |  | (111,980 | )
Nonvested shares, March 31 | 139,940 |  |  | 170,611 |
(a) | Share amounts represent the target number of performance shares. Each performance share’s value is based on the price of one share of Alliant Energy’s common stock at the end of the performance period. The actual number of shares that will be paid out upon vesting is dependent upon actual performance and may range from zero to 200% of the target number of shares.
(b) | In the first quarter of 2013, 54,430 performance shares granted in 2010 vested at 197.5% of the target, resulting in payouts valued at $4.8 million, which consisted of a combination of cash and common stock (4,177 shares). In the first quarter of 2012, 111,980 performance shares granted in 2009 vested at 162.5% of the target, resulting in payouts valued at $8.0 million, which consisted of a combination of cash and common stock (6,399 shares).
Performance Units - A summary of the performance unit activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Units (a) |  | Units (a)
Nonvested units, January 1 | 64,969 |  |  | 42,996 |
Granted | 22,201 |  |  | 24,686 |
Vested (b) | (19,760 | ) |  | — |
Forfeited | (1,013 | ) |  | (878 | )
Nonvested units, March 31 | 66,397 |  |  | 66,804 |
(a) | Unit amounts represent the target number of performance units. Each performance unit’s value is based on the closing price of one share of Alliant Energy’s common stock on the grant date of the award. The actual payout for performance units is dependent upon actual performance and may range from zero to 200% of the target number of units.
(b) | In the first quarter of 2013, 19,760 performance units granted in 2010 vested at 197.5% of the target, resulting in cash payouts valued at $1.3 million.
Fair Value of Awards - Information related to fair values of nonvested performance shares and units at March 31, 2013 by year of grant were as follows:
| Performance Shares |  | Performance Units
| 2013 Grant |  | 2012 Grant |  | 2011 Grant |  | 2013 Grant |  | 2012 Grant |  | 2011 Grant
Nonvested awards | 49,093 |  |  | 45,612 |  |  | 45,235 |  |  | 22,201 |  |  | 23,392 |  |  | 20,804 |
Alliant Energy common stock closing price on March 31, 2013 |  | $50.18 |  |  |  | $50.18 |  |  |  | $50.18 |  |  |  |  |  |  |
Alliant Energy common stock closing price on grant date |  |  |  |  |  |  |  | $47.58 |  |  |  | $43.05 |  |  |  | $38.75 |
Estimated payout percentage based on performance criteria | 97 | % |  | 92 | % |  | 112 | % |  | 97 | % |  | 92 | % |  | 112 | %
Fair values of each nonvested award |  | $48.67 |  |  |  | $46.17 |  |  |  | $56.20 |  |  |  | $46.15 |  |  |  | $39.61 |  |  |  | $43.40 |
At March 31, 2013, fair values of nonvested performance shares and units were calculated using a Monte Carlo simulation to determine the anticipated total shareowner returns of Alliant Energy and its investor-owned utility peer groups. Expected volatility was based on historical volatilities using daily stock prices over the past three years. Expected dividend yields were calculated based on the most recent quarterly dividend rates announced prior to the measurement date and stock prices at the measurement date. The risk-free interest rate was based on the three-year U.S. Treasury rate in effect as of the measurement date. Performance-contingent Restricted Stock - A summary of the performance-contingent restricted stock activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Shares |  | Weighted Average Fair Value |  | Shares |  | Weighted Average Fair Value
Nonvested shares, January 1 | 211,651 |  |  |  | $32.42 |  |  | 301,738 |  |  |  | $32.60 |
Granted | 49,093 |  |  | 47.58 |  |  | 45,612 |  |  | 43.05 |
Vested (a) | — |  |  | — |  |  | (65,172 | ) |  | 32.56 |
Forfeited (b) | (101,822 | ) |  | 23.67 |  |  | (70,527 | ) |  | 39.93 |
Nonvested shares, March 31 | 158,922 |  |  | 42.71 |  |  | 211,651 |  |  | 32.42 |
(a) | In 2012, 65,172 performance-contingent restricted shares granted in 2010 vested because the specified performance criteria for such shares were met.
(b) | In 2013 and 2012, 101,822 and 65,516 performance-contingent restricted shares granted in 2009 and 2008, respectively, were forfeited because the specified performance criteria for such shares were not met. The remaining forfeitures during 2012 were primarily caused by retirements and terminations of participants.
Performance Contingent Cash Awards - A summary of the performance contingent cash awards activity for the three months ended March 31 was as follows:
| 2013 |  | 2012
| Awards |  | Awards
Nonvested awards, January 1 | 59,639 |  |  | 46,676 |
Granted | 39,530 |  |  | 36,936 |
Vested (a) | — |  |  | (21,605 | )
Forfeited | — |  |  | (1,533 | )
Nonvested awards, March 31 | 99,169 |  |  | 60,474 |
(a) | In the first quarter of 2012, 21,605 performance contingent cash awards granted in 2010 vested, resulting in cash payouts valued at $0.9 million.

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