XML 140 R15.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Redeemable Preferred Stock | 12 Months Ended
--- | ---
Dec. 31, 2013
Redeemable Preferred Stock | REDEEMABLE PREFERRED STOCK Information related to the carrying value of cumulative preferred stock, net at December 31 was as follows (dollars in millions):
Liquidation Preference/ Stated Value |  | Shares Outstanding |  | Series |  | Redemption (none are mandatorily redeemable) |  | 2013 |  | 2012
IPL (16,000,000 shares authorized): |  |  |  |  |  |
$25 |  | 8,000,000 |  | 5.1% |  | On or after March 15, 2018 |  |  | $200.0 |  |  |  | $— |
$25 |  | 6,000,000 |  | 8.375% |  | (a) |  | — |  |  | 150.0 |
Less: discount |  |  |  |  |  |  |  | — |  |  | (4.9 | )
|  |  |  |  |  |  |  | 200.0 |  |  | 145.1 |
WPL (16,000,000 and 3,750,000 shares authorized as of December 31, 2013 and 2012, respectively): |  |
$25 to $100 |  | 1,049,225 |  | 4.40-6.50% |  | (b) |  | — |  |  | 60.0 |
Alliant Energy |  |  |  |  |  |  |  |  | $200.0 |  |  |  | $205.1 |
(a) | In 2013, IPL redeemed all 6,000,000 outstanding shares of its 8.375% cumulative preferred stock for $150 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and IPL recorded a $5 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their Consolidated Statements of Income.
(b) | In 2013, WPL redeemed all 1,049,225 outstanding shares of its 4.40% through 6.50% cumulative preferred stock for $61 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and WPL recorded a $1 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their Consolidated Statements of Income.
IPL - In 2013, IPL issued 8,000,000 shares of 5.1% cumulative preferred stock and received proceeds of $200 million. The proceeds were used by IPL to redeem its 8.375% cumulative preferred stock, reduce commercial paper classified as long-term debt by $40 million and for other general corporate purposes. Alliant Energy and IPL incurred $5 million of issuance costs related to this transaction, which were recorded as a reduction of “Additional paid-in capital” on Alliant Energy’s and IPL’s Consolidated Balance Sheets in 2013. On or after March 15, 2018, IPL may, at its option, redeem the 5.1% cumulative preferred stock for cash at a redemption price of $25 per share plus accrued and unpaid dividends up to the redemption date. The current articles of incorporation of IPL contain a provision that grants the holders of its cumulative preferred stock voting rights to elect two members of IPL’s Board of Directors if preferred dividends equal to six or more quarterly dividend requirements (whether or not consecutive) are in arrears. Such voting rights would not provide the holders of IPL’s preferred stock control of the decision on redemption of IPL’s preferred stock and could not force IPL to exercise its call option. The articles of incorporation of IPL in effect as of December 31, 2012 contained similar provisions as the current articles of incorporation of IPL. Therefore, IPL’s 5.1% and 8.375% cumulative preferred stock were presented in total equity on Alliant Energy’s and IPL’s Consolidated Balance Sheets in a manner consistent with noncontrolling interests. WPL - The articles of organization of WPL in effect as of December 31, 2012 contained a provision that granted the holders of its preferred stock voting rights to elect a majority of WPL’s Board of Directors if preferred dividends equal to the annual dividend requirements were in arrears. The exercise of such voting rights would have provided the holders of WPL’s preferred stock control of the decision on redemption of WPL’s preferred stock and could have forced WPL to exercise its call option. Therefore, the contingent control right and the embedded call option caused WPL’s preferred stock to be presented outside of total equity on Alliant Energy’s and WPL’s Consolidated Balance Sheets at December 31, 2012 in a manner consistent with temporary equity. Refer to Note 14 for information on the fair value of cumulative preferred stock.
IPL [Member] |
Redeemable Preferred Stock | REDEEMABLE PREFERRED STOCK Information related to the carrying value of cumulative preferred stock, net at December 31 was as follows (dollars in millions):
Liquidation Preference/ Stated Value |  | Shares Outstanding |  | Series |  | Redemption (none are mandatorily redeemable) |  | 2013 |  | 2012
IPL (16,000,000 shares authorized): |  |  |  |  |  |
$25 |  | 8,000,000 |  | 5.1% |  | On or after March 15, 2018 |  |  | $200.0 |  |  |  | $— |
$25 |  | 6,000,000 |  | 8.375% |  | (a) |  | — |  |  | 150.0 |
Less: discount |  |  |  |  |  |  |  | — |  |  | (4.9 | )
|  |  |  |  |  |  |  | 200.0 |  |  | 145.1 |
WPL (16,000,000 and 3,750,000 shares authorized as of December 31, 2013 and 2012, respectively): |  |
$25 to $100 |  | 1,049,225 |  | 4.40-6.50% |  | (b) |  | — |  |  | 60.0 |
Alliant Energy |  |  |  |  |  |  |  |  | $200.0 |  |  |  | $205.1 |
(a) | In 2013, IPL redeemed all 6,000,000 outstanding shares of its 8.375% cumulative preferred stock for $150 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and IPL recorded a $5 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their Consolidated Statements of Income.
(b) | In 2013, WPL redeemed all 1,049,225 outstanding shares of its 4.40% through 6.50% cumulative preferred stock for $61 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and WPL recorded a $1 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their Consolidated Statements of Income.
IPL - In 2013, IPL issued 8,000,000 shares of 5.1% cumulative preferred stock and received proceeds of $200 million. The proceeds were used by IPL to redeem its 8.375% cumulative preferred stock, reduce commercial paper classified as long-term debt by $40 million and for other general corporate purposes. Alliant Energy and IPL incurred $5 million of issuance costs related to this transaction, which were recorded as a reduction of “Additional paid-in capital” on Alliant Energy’s and IPL’s Consolidated Balance Sheets in 2013. On or after March 15, 2018, IPL may, at its option, redeem the 5.1% cumulative preferred stock for cash at a redemption price of $25 per share plus accrued and unpaid dividends up to the redemption date. The current articles of incorporation of IPL contain a provision that grants the holders of its cumulative preferred stock voting rights to elect two members of IPL’s Board of Directors if preferred dividends equal to six or more quarterly dividend requirements (whether or not consecutive) are in arrears. Such voting rights would not provide the holders of IPL’s preferred stock control of the decision on redemption of IPL’s preferred stock and could not force IPL to exercise its call option. The articles of incorporation of IPL in effect as of December 31, 2012 contained similar provisions as the current articles of incorporation of IPL. Therefore, IPL’s 5.1% and 8.375% cumulative preferred stock were presented in total equity on Alliant Energy’s and IPL’s Consolidated Balance Sheets in a manner consistent with noncontrolling interests. WPL - The articles of organization of WPL in effect as of December 31, 2012 contained a provision that granted the holders of its preferred stock voting rights to elect a majority of WPL’s Board of Directors if preferred dividends equal to the annual dividend requirements were in arrears. The exercise of such voting rights would have provided the holders of WPL’s preferred stock control of the decision on redemption of WPL’s preferred stock and could have forced WPL to exercise its call option. Therefore, the contingent control right and the embedded call option caused WPL’s preferred stock to be presented outside of total equity on Alliant Energy’s and WPL’s Consolidated Balance Sheets at December 31, 2012 in a manner consistent with temporary equity. Refer to Note 14 for information on the fair value of cumulative preferred stock.
WPL [Member] |
Redeemable Preferred Stock | REDEEMABLE PREFERRED STOCK Information related to the carrying value of cumulative preferred stock, net at December 31 was as follows (dollars in millions):
Liquidation Preference/ Stated Value |  | Shares Outstanding |  | Series |  | Redemption (none are mandatorily redeemable) |  | 2013 |  | 2012
IPL (16,000,000 shares authorized): |  |  |  |  |  |
$25 |  | 8,000,000 |  | 5.1% |  | On or after March 15, 2018 |  |  | $200.0 |  |  |  | $— |
$25 |  | 6,000,000 |  | 8.375% |  | (a) |  | — |  |  | 150.0 |
Less: discount |  |  |  |  |  |  |  | — |  |  | (4.9 | )
|  |  |  |  |  |  |  | 200.0 |  |  | 145.1 |
WPL (16,000,000 and 3,750,000 shares authorized as of December 31, 2013 and 2012, respectively): |  |
$25 to $100 |  | 1,049,225 |  | 4.40-6.50% |  | (b) |  | — |  |  | 60.0 |
Alliant Energy |  |  |  |  |  |  |  |  | $200.0 |  |  |  | $205.1 |
(a) | In 2013, IPL redeemed all 6,000,000 outstanding shares of its 8.375% cumulative preferred stock for $150 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and IPL recorded a $5 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their Consolidated Statements of Income.
(b) | In 2013, WPL redeemed all 1,049,225 outstanding shares of its 4.40% through 6.50% cumulative preferred stock for $61 million plus accrued and unpaid dividends to the redemption date. Alliant Energy and WPL recorded a $1 million charge in 2013 related to this transaction in “Preferred dividend requirements” in their Consolidated Statements of Income.
IPL - In 2013, IPL issued 8,000,000 shares of 5.1% cumulative preferred stock and received proceeds of $200 million. The proceeds were used by IPL to redeem its 8.375% cumulative preferred stock, reduce commercial paper classified as long-term debt by $40 million and for other general corporate purposes. Alliant Energy and IPL incurred $5 million of issuance costs related to this transaction, which were recorded as a reduction of “Additional paid-in capital” on Alliant Energy’s and IPL’s Consolidated Balance Sheets in 2013. On or after March 15, 2018, IPL may, at its option, redeem the 5.1% cumulative preferred stock for cash at a redemption price of $25 per share plus accrued and unpaid dividends up to the redemption date. The current articles of incorporation of IPL contain a provision that grants the holders of its cumulative preferred stock voting rights to elect two members of IPL’s Board of Directors if preferred dividends equal to six or more quarterly dividend requirements (whether or not consecutive) are in arrears. Such voting rights would not provide the holders of IPL’s preferred stock control of the decision on redemption of IPL’s preferred stock and could not force IPL to exercise its call option. The articles of incorporation of IPL in effect as of December 31, 2012 contained similar provisions as the current articles of incorporation of IPL. Therefore, IPL’s 5.1% and 8.375% cumulative preferred stock were presented in total equity on Alliant Energy’s and IPL’s Consolidated Balance Sheets in a manner consistent with noncontrolling interests. WPL - The articles of organization of WPL in effect as of December 31, 2012 contained a provision that granted the holders of its preferred stock voting rights to elect a majority of WPL’s Board of Directors if preferred dividends equal to the annual dividend requirements were in arrears. The exercise of such voting rights would have provided the holders of WPL’s preferred stock control of the decision on redemption of WPL’s preferred stock and could have forced WPL to exercise its call option. Therefore, the contingent control right and the embedded call option caused WPL’s preferred stock to be presented outside of total equity on Alliant Energy’s and WPL’s Consolidated Balance Sheets at December 31, 2012 in a manner consistent with temporary equity. Refer to Note 14 for information on the fair value of cumulative preferred stock.

X
- Definition The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock. + References No definition available. + Details
Name: | us-gaap_PreferredStockTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration