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Receivables | 9 Months Ended
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Sep. 30, 2014
Receivables [Line Items] |
Receivables | RECEIVABLES (a) Sales of Accounts Receivable - IPL maintains a Receivables Agreement whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In March 2014, IPL extended through March 2016 the purchase commitment from the third party to which it sells its receivables. In exchange for the receivables sold, cash proceeds are received from the third party, and deferred proceeds are recorded in accounts receivable on Alliant Energy’s and IPL’s balance sheets. As of September 30, 2014 and December 31, 2013, IPL sold $203.7 million and $238.0 million aggregate amounts of receivables, respectively. Maximum and average outstanding cash proceeds, and costs incurred related to the sales of accounts receivable program for the three and nine months ended September 30 were as follows (in millions):
| Three Months |  | Nine Months
| 2014 |  | 2013 |  | 2014 |  | 2013
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) |  | $92.0 |  |  |  | $155.0 |  |  |  | $92.0 |  |  |  | $170.0 |
Average outstanding aggregate cash proceeds (based on daily outstanding balances) | 54.5 |  |  | 132.7 |  |  | 38.9 |  |  | 132.5 |
Costs incurred | 0.2 |  |  | 0.3 |  |  | 0.6 |  |  | 1.0 |
The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):
| September 30, 2014 |  | December 31, 2013
Customer accounts receivable |  | $142.6 |  |  |  | $151.6 |
Unbilled utility revenues | 60.7 |  |  | 86.2 |
Other receivables | 0.4 |  |  | 0.2 |
Receivables sold | 203.7 |  |  | 238.0 |
Less: cash proceeds (a) | 38.0 |  |  | 29.0 |
Deferred proceeds | 165.7 |  |  | 209.0 |
Less: allowance for doubtful accounts | 5.4 |  |  | 5.5 |
Fair value of deferred proceeds |  | $160.3 |  |  |  | $203.5 |
Outstanding receivables past due |  | $17.8 |  |  |  | $21.5 |
(a) | Changes in cash proceeds are presented in “Accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements.
Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and nine months ended September 30 were as follows (in millions):
| Three Months |  | Nine Months
| 2014 |  | 2013 |  | 2014 |  | 2013
Collections reinvested in receivables |  | $520.1 |  |  |  | $481.1 |  |  |  | $1,537.3 |  |  |  | $1,407.4 |
Credit losses, net of recoveries | 6.4 |  |  | 3.9 |  |  | 12.8 |  |  | 7.8 |
(b) Whiting Petroleum Tax Sharing Agreement - Prior to an IPO of Whiting Petroleum in 2003, Alliant Energy and Whiting Petroleum entered into a tax separation and indemnification agreement pursuant to which Alliant Energy and Whiting Petroleum made certain tax elections. These tax elections had the effect of increasing the tax basis of the assets of Whiting Petroleum’s consolidated tax group based on the sales price of Whiting Petroleum’s shares in the IPO. The increase in the tax basis of the assets was included in income in Alliant Energy’s U.S. federal income tax return for the calendar year 2003. Pursuant to the tax separation and indemnification agreement, Whiting Petroleum paid Resources the final payment of $26 million in March 2014, which represented the present value of certain future tax benefits expected to be realized by Whiting Petroleum through future tax deductions. The final payment resulted in a decrease in “Prepayments and other” on Alliant Energy’s balance sheet in 2014. The $26 million received by Alliant Energy is presented in operating activities in its cash flows statement for the nine months ended September 30, 2014.
IPL [Member] |
Receivables [Line Items] |
Receivables | RECEIVABLES (a) Sales of Accounts Receivable - IPL maintains a Receivables Agreement whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In March 2014, IPL extended through March 2016 the purchase commitment from the third party to which it sells its receivables. In exchange for the receivables sold, cash proceeds are received from the third party, and deferred proceeds are recorded in accounts receivable on Alliant Energy’s and IPL’s balance sheets. As of September 30, 2014 and December 31, 2013, IPL sold $203.7 million and $238.0 million aggregate amounts of receivables, respectively. Maximum and average outstanding cash proceeds, and costs incurred related to the sales of accounts receivable program for the three and nine months ended September 30 were as follows (in millions):
| Three Months |  | Nine Months
| 2014 |  | 2013 |  | 2014 |  | 2013
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) |  | $92.0 |  |  |  | $155.0 |  |  |  | $92.0 |  |  |  | $170.0 |
Average outstanding aggregate cash proceeds (based on daily outstanding balances) | 54.5 |  |  | 132.7 |  |  | 38.9 |  |  | 132.5 |
Costs incurred | 0.2 |  |  | 0.3 |  |  | 0.6 |  |  | 1.0 |
The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):
| September 30, 2014 |  | December 31, 2013
Customer accounts receivable |  | $142.6 |  |  |  | $151.6 |
Unbilled utility revenues | 60.7 |  |  | 86.2 |
Other receivables | 0.4 |  |  | 0.2 |
Receivables sold | 203.7 |  |  | 238.0 |
Less: cash proceeds (a) | 38.0 |  |  | 29.0 |
Deferred proceeds | 165.7 |  |  | 209.0 |
Less: allowance for doubtful accounts | 5.4 |  |  | 5.5 |
Fair value of deferred proceeds |  | $160.3 |  |  |  | $203.5 |
Outstanding receivables past due |  | $17.8 |  |  |  | $21.5 |
(a) | Changes in cash proceeds are presented in “Accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements.
Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and nine months ended September 30 were as follows (in millions):
| Three Months |  | Nine Months
| 2014 |  | 2013 |  | 2014 |  | 2013
Collections reinvested in receivables |  | $520.1 |  |  |  | $481.1 |  |  |  | $1,537.3 |  |  |  | $1,407.4 |
Credit losses, net of recoveries | 6.4 |  |  | 3.9 |  |  | 12.8 |  |  | 7.8 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=35738203&loc=d3e5074-111524 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=35738203&loc=d3e5066-111524 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=35738203&loc=d3e5162-111524 + Details
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