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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]  
Assumptions Used To Measure Benefit Plans
The assumptions for defined benefit pension and OPEB plans at the measurement date of December 31 were as follows:
 
Defined Benefit Pension Plans
 
OPEB Plans
Alliant Energy
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for benefit obligations
4.18%
 
4.97%
 
4.11%
 
3.97%
 
4.59%
 
3.82%
Discount rate for net periodic cost
4.97%
 
4.11%
 
4.86%
 
4.59%
 
3.82%
 
4.60%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.90%
 
7.40%
 
7.40%
 
7.50%
Rate of compensation increase
3.50
%
-
4.50%
 
3.50
%
-
4.50%
 
3.50
%
-
4.50%
 
N/A
 
3.50%
 
3.50%
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
6.75%
 
7.00%
 
7.50%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
IPL
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for benefit obligations
4.20%
 
5.05%
 
4.20%
 
3.94%
 
4.55%
 
3.76%
Discount rate for net periodic cost
5.05%
 
4.20%
 
4.95%
 
4.55%
 
3.76%
 
4.60%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.90%
 
7.60%
 
7.50%
 
7.40%
Rate of compensation increase
3.50%
 
3.50%
 
3.50%
 
N/A
 
3.50%
 
3.50%
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
6.75%
 
7.00%
 
7.50%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
WPL
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for benefit obligations
4.20%
 
5.05%
 
4.20%
 
3.96%
 
4.56%
 
3.81%
Discount rate for net periodic cost
5.05%
 
4.20%
 
4.95%
 
4.56%
 
3.81%
 
4.60%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.90%
 
7.30%
 
7.20%
 
7.00%
Rate of compensation increase
3.50%
 
3.50%
 
3.50%
 
N/A
 
3.50%
 
3.50%
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
6.75%
 
7.00%
 
7.50%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
Defined Benefit Pension And Other Postretirement Benefits Plans
The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans 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 their 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. In the “IPL” and “WPL” tables below, the OPEB plans costs (credits) represent costs (credits) for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan.
Alliant Energy
Defined Benefit Pension Plans
 
OPEB Plans
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost

$13.1

 

$15.7

 

$13.5

 

$5.2

 

$6.3

 

$6.9

Interest cost
54.1

 
49.0

 
51.6

 
9.5

 
8.5

 
10.2

Expected return on plan assets (a)
(74.9
)
 
(74.0
)
 
(68.8
)
 
(8.3
)
 
(8.1
)
 
(7.5
)
Amortization of prior service cost (credit) (b)
—

 
0.2

 
0.3

 
(11.9
)
 
(11.9
)
 
(12.0
)
Amortization of actuarial loss (c)
19.5

 
36.2

 
33.3

 
2.4

 
4.9

 
6.3

Additional benefit costs (d)
—

 
9.0

 
0.1

 
—

 
—

 
—

Settlement losses (e)
—

 
—

 
5.4

 
—

 
—

 
—

 

$11.8

 

$36.1

 

$35.4

 

($3.1
)
 

($0.3
)
 

$3.9

IPL
Defined Benefit Pension Plans
 
OPEB Plans
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost

$7.2

 

$8.6

 

$7.5

 

$2.4

 

$2.9

 

$3.0

Interest cost
25.1

 
22.9

 
24.1

 
3.9

 
3.6

 
4.4

Expected return on plan assets (a)
(35.7
)
 
(35.2
)
 
(32.6
)
 
(5.8
)
 
(5.6
)
 
(5.1
)
Amortization of prior service cost (credit) (b)
—

 
0.1

 
0.2

 
(6.3
)
 
(6.3
)
 
(6.3
)
Amortization of actuarial loss (c)
8.0

 
15.2

 
14.1

 
1.1

 
2.7

 
3.5

Additional benefit costs (d)
—

 
2.6

 
—

 
—

 
—

 
—

 

$4.6

 

$14.2

 

$13.3

 

($4.7
)
 

($2.7
)
 

($0.5
)
WPL
Defined Benefit Pension Plans
 
OPEB Plans
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost

$4.9

 

$5.9

 

$5.2

 

$2.0

 

$2.5

 

$2.7

Interest cost
22.6

 
20.7

 
21.6

 
3.8

 
3.4

 
4.1

Expected return on plan assets (a)
(32.4
)
 
(31.9
)
 
(29.6
)
 
(1.3
)
 
(1.3
)
 
(1.3
)
Amortization of prior service cost (credit) (b)
0.3

 
0.3

 
0.4

 
(3.9
)
 
(3.9
)
 
(3.9
)
Amortization of actuarial loss (c)
9.2

 
17.1

 
15.7

 
1.3

 
1.9

 
2.3

Additional benefit costs (d)
—

 
0.6

 
0.1

 
—

 
—

 
—

 

$4.6

 

$12.7

 

$13.4

 

$1.9

 

$2.6

 

$3.9


(a)
The expected return on plan assets is based on the expected rate of return on plan assets and the fair value approach to the market-related value of plan assets.
(b)
Unrecognized prior service costs (credits) for the OPEB plans are amortized over the average future service period to full eligibility of the participants of each plan.
(c)
Unrecognized net actuarial gains or losses in excess of 10% of the greater of the plans’ benefit obligations or assets are amortized over the average future service lives of plan participants, except for the Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits.
(d)
In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement.
(e)
Settlement losses related to payments made to retired executives of Alliant Energy.
Schedule Of Qualified And Non-Qualified Pension And Other Postretirement Benefits Costs
The following table includes the allocated qualified and non-qualified pension and OPEB costs (credits) associated with Corporate Services employees providing services to IPL and WPL (in millions):
 
Pension Benefits Costs (a)
 
OPEB Costs (Credits)
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
IPL

$1.4

 

$4.8

 

$4.9

 

($0.3
)
 

($0.3
)
 

$0.1

WPL
1.1

 
3.6

 
3.6

 
(0.2
)
 
(0.2
)
 
0.1


(a)
Refer to IPL’s and WPL’s “Net Periodic Benefit Costs (Credits)” tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013.
Estimated Amortization From Regulatory Assets And Regulatory Liabilities On The Consolidated Balance Sheets And Accumulated Other Comprehensive Loss On Alliant Energy's Consolidated Balance Sheet Into Net Periodic Benefit Cost
The estimated amortization from “Regulatory assets” and “Regulatory liabilities” on the balance sheets and AOCL on Alliant Energy’s balance sheet into net periodic benefit cost in 2015 is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
Defined Benefit
 
 
 
Defined Benefit
 
 
 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
 
Pension Plans
 
OPEB Plans
 
Pension Plans
 
OPEB Plans
Actuarial loss

$35.4

 

$4.9

 

$15.3

 

$2.3

 

$16.8

 

$2.3

Prior service cost (credit)
(0.3
)
 
(11.3
)
 
(0.1
)
 
(6.1
)
 
0.2

 
(3.5
)
 

$35.1

 

($6.4
)
 

$15.2

 

($3.8
)
 

$17.0

 

($1.2
)
Funded Status Of Benefit Plans
A reconciliation of the funded status of Alliant Energy’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on Alliant Energy’s balance sheets at December 31 was as follows (in millions):
 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
Alliant Energy
2014
 
2013
 
2014
 
2013
Change in benefit obligation:
 
 
 
 
 
 
 
Net benefit obligation at January 1

$1,113.4

 

$1,207.5

 

$208.7

 

$223.2

Service cost
13.1

 
15.7

 
5.2

 
6.3

Interest cost
54.1

 
49.0

 
9.5

 
8.5

Plan participants’ contributions
—

 
—

 
2.8

 
2.6

Additional benefit costs
—

 
9.0

 
—

 
—

Actuarial (gain) loss
195.8

 
(94.1
)
 
22.3

 
(13.2
)
Gross benefits paid
(74.9
)
 
(73.7
)
 
(17.4
)
 
(18.7
)
Net benefit obligation at December 31
1,301.5

 
1,113.4

 
231.1

 
208.7

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at January 1
1,022.9

 
965.6

 
124.9

 
123.1

Actual return on plan assets
66.4

 
128.5

 
5.6

 
14.4

Employer contributions
3.7

 
2.5

 
5.7

 
3.5

Plan participants’ contributions
—

 
—

 
2.8

 
2.6

Gross benefits paid
(74.9
)
 
(73.7
)
 
(17.4
)
 
(18.7
)
Fair value of plan assets at December 31
1,018.1

 
1,022.9

 
121.6

 
124.9

Under funded status at December 31

($283.4
)
 

($90.5
)
 

($109.5
)
 

($83.8
)

 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
Alliant Energy
2014
 
2013
 
2014
 
2013
Amounts recognized on the balance sheets consist of:
 
 
 
 
 
 
 
Non-current assets

$—

 

$—

 

$6.1

 

$14.5

Other current liabilities
(2.5
)
 
(2.4
)
 
(5.6
)
 
(4.8
)
Pension and other benefit obligations
(280.9
)
 
(88.1
)
 
(110.0
)
 
(93.5
)
Net amounts recognized at December 31

($283.4
)
 

($90.5
)
 

($109.5
)
 

($83.8
)
Amounts recognized in Regulatory Assets, Regulatory Liabilities and AOCL consist of (a):
 
 
 
 
 
 
 
Net actuarial loss

$533.4

 

$348.6

 

$60.7

 

$38.1

Prior service credit
(7.4
)
 
(7.4
)
 
(16.7
)
 
(28.6
)
 

$526.0

 

$341.2

 

$44.0

 

$9.5


(a)
Refer to Note 2 and Alliant Energy’s common equity statements for amounts recognized in “Regulatory assets” and “AOCL,” respectively, on Alliant Energy’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $5.1 million, respectively, of regulatory liabilities were recognized related to Alliant Energy’s OPEB plans.
Accumulated Benefit Obligations
Included in the following tables are accumulated benefit obligations, aggregate amounts applicable to defined benefit pension and OPEB plans with accumulated benefit obligations in excess of plan assets, as well as defined benefit pension plans with projected benefit obligations in excess of plan assets as of the December 31 measurement date (in millions):
 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
Alliant Energy
2014
 
2013
 
2014
 
2013
Accumulated benefit obligations

$1,255.0

 

$1,071.7

 

$231.1

 

$208.7

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
1,255.0

 
406.5

 
231.1

 
208.7

Fair value of plan assets
1,018.1

 
347.6

 
121.6

 
124.9

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
1,301.5

 
1,113.4

 
N/A

 
N/A

Fair value of plan assets
1,018.1

 
1,022.9

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
IPL
2014
 
2013
 
2014
 
2013
Accumulated benefit obligations

$575.5

 

$491.5

 

$96.4

 

$87.8

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
575.5

 
159.3

 
96.4

 
87.8

Fair value of plan assets
484.7

 
144.6

 
78.7

 
81.2

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
603.1

 
514.0

 
N/A

 
N/A

Fair value of plan assets
484.7

 
485.9

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
WPL
2014
 
2013
 
2014
 
2013
Accumulated benefit obligations

$532.5

 

$446.7

 

$94.0

 

$85.6

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
532.5

 
115.6

 
94.0

 
85.6

Fair value of plan assets
440.3

 
106.8

 
21.8

 
21.7

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
547.6

 
460.8

 
N/A

 
N/A

Fair value of plan assets
440.3

 
438.8

 
N/A

 
N/A
Regulatory Assets and Regulatory Liabilities
In addition to the amounts recognized in “Regulatory assets and regulatory liabilities” in the above tables for IPL and WPL, “Regulatory assets” and “Regulatory liabilities” were recognized for amounts associated with Corporate Services employees participating in other Alliant Energy sponsored benefit plans that were allocated to IPL and WPL at December 31 as follows (in millions):
 
IPL
 
WPL
 
2014
 
2013
 
2014
 
2013
Regulatory assets

$38.2

 

$26.5

 

$28.0

 

$19.8

Regulatory liabilities
—

 
1.7

 
—

 
1.3
Estimated Future Employer Contributions
Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2015 is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
Defined benefit pension plans (a)

$2.5

 

$0.8

 

$0.2

OPEB plans
5.7

 
—

 
5.5


(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.
Expected Benefit Payments
Expected benefit payments for the qualified and non-qualified defined benefit plans, which reflect expected future service, as appropriate, are as follows (in millions):
Alliant Energy
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Defined benefit pension benefits

$66.7

 

$71.5

 

$69.3

 

$72.9

 

$73.6

 

$396.1

OPEB
17.6

 
16.8

 
16.7

 
16.9

 
17.0

 
84.0

 

$84.3

 

$88.3

 

$86.0

 

$89.8

 

$90.6

 

$480.1

IPL
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Defined benefit pension benefits

$30.4

 

$31.6

 

$33.1

 

$34.9

 

$34.7

 

$189.9

OPEB
7.4

 
7.2

 
7.2

 
7.2

 
7.2

 
35.3

 

$37.8

 

$38.8

 

$40.3

 

$42.1

 

$41.9

 

$225.2

WPL
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Defined benefit pension benefits

$28.4

 

$28.0

 

$28.8

 

$30.1

 

$30.5

 

$163.4

OPEB
7.7

 
7.0

 
7.0

 
7.0

 
7.1

 
34.2

 

$36.1

 

$35.0

 

$35.8

 

$37.1

 

$37.6

 

$197.6
Recognized Compensation Expense And Income Tax Benefits
A summary of compensation expense (including amounts allocated to IPL and WPL) and the related income tax benefits recognized for share-based compensation awards was as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Compensation expense

$15.3

 

$12.0

 

$6.9

 

$8.3

 

$6.2

 

$3.6

 

$6.4

 

$5.2

 

$3.0

Income tax benefits
6.2

 
4.8

 
2.8

 
3.4

 
2.5

 
1.5

 
2.6

 
2.1

 
1.2
Schedule Of Equity-based Compensation Plans Activity
Information related to fair values of nonvested performance shares and units at December 31, 2014, by year of grant, were as follows:
 
Performance Shares
 
Performance Units
 
2014 Grant
 
2013 Grant
 
2012 Grant
 
2014 Grant
 
2013 Grant
 
2012 Grant
Nonvested awards
49,719

 
49,093

 
45,612

 
19,440

 
21,380

 
22,845

Alliant Energy common stock closing price on December 31, 2014

$66.42

 

$66.42

 

$66.42

 
 
 
 
 
 
Alliant Energy common stock closing price on grant date
 
 
 
 
 
 

$53.77

 

$47.58

 

$43.05

Estimated payout percentage based on performance criteria
125
%
 
160
%
 
168
%
 
125
%
 
160
%
 
168
%
Fair values of each nonvested award

$83.03

 

$106.27

 

$111.25

 

$67.21

 

$76.13

 

$72.11
Carrying Value Of Entity's Deferred Compensation Obligations Interest And Equity Accounts
At December 31, the carrying value of deferred compensation obligations for participants’ interest and equity accounts, which approximates fair market value, was as follows (in millions):
 
Alliant Energy
 
IPL
 
2014
 
2013
 
2014
 
2013
Carrying value
$17.8
 
$15.9
 
$5.2
 
$5.2
IPL [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Assumptions Used To Measure Benefit Plans
The assumptions for defined benefit pension and OPEB plans at the measurement date of December 31 were as follows:
 
Defined Benefit Pension Plans
 
OPEB Plans
Alliant Energy
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for benefit obligations
4.18%
 
4.97%
 
4.11%
 
3.97%
 
4.59%
 
3.82%
Discount rate for net periodic cost
4.97%
 
4.11%
 
4.86%
 
4.59%
 
3.82%
 
4.60%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.90%
 
7.40%
 
7.40%
 
7.50%
Rate of compensation increase
3.50
%
-
4.50%
 
3.50
%
-
4.50%
 
3.50
%
-
4.50%
 
N/A
 
3.50%
 
3.50%
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
6.75%
 
7.00%
 
7.50%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
IPL
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for benefit obligations
4.20%
 
5.05%
 
4.20%
 
3.94%
 
4.55%
 
3.76%
Discount rate for net periodic cost
5.05%
 
4.20%
 
4.95%
 
4.55%
 
3.76%
 
4.60%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.90%
 
7.60%
 
7.50%
 
7.40%
Rate of compensation increase
3.50%
 
3.50%
 
3.50%
 
N/A
 
3.50%
 
3.50%
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
6.75%
 
7.00%
 
7.50%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
WPL
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for benefit obligations
4.20%
 
5.05%
 
4.20%
 
3.96%
 
4.56%
 
3.81%
Discount rate for net periodic cost
5.05%
 
4.20%
 
4.95%
 
4.56%
 
3.81%
 
4.60%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.90%
 
7.30%
 
7.20%
 
7.00%
Rate of compensation increase
3.50%
 
3.50%
 
3.50%
 
N/A
 
3.50%
 
3.50%
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
6.75%
 
7.00%
 
7.50%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
Defined Benefit Pension And Other Postretirement Benefits Plans
The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans 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 their 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. In the “IPL” and “WPL” tables below, the OPEB plans costs (credits) represent costs (credits) for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan.
Alliant Energy
Defined Benefit Pension Plans
 
OPEB Plans
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost

$13.1

 

$15.7

 

$13.5

 

$5.2

 

$6.3

 

$6.9

Interest cost
54.1

 
49.0

 
51.6

 
9.5

 
8.5

 
10.2

Expected return on plan assets (a)
(74.9
)
 
(74.0
)
 
(68.8
)
 
(8.3
)
 
(8.1
)
 
(7.5
)
Amortization of prior service cost (credit) (b)
—

 
0.2

 
0.3

 
(11.9
)
 
(11.9
)
 
(12.0
)
Amortization of actuarial loss (c)
19.5

 
36.2

 
33.3

 
2.4

 
4.9

 
6.3

Additional benefit costs (d)
—

 
9.0

 
0.1

 
—

 
—

 
—

Settlement losses (e)
—

 
—

 
5.4

 
—

 
—

 
—

 

$11.8

 

$36.1

 

$35.4

 

($3.1
)
 

($0.3
)
 

$3.9

IPL
Defined Benefit Pension Plans
 
OPEB Plans
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost

$7.2

 

$8.6

 

$7.5

 

$2.4

 

$2.9

 

$3.0

Interest cost
25.1

 
22.9

 
24.1

 
3.9

 
3.6

 
4.4

Expected return on plan assets (a)
(35.7
)
 
(35.2
)
 
(32.6
)
 
(5.8
)
 
(5.6
)
 
(5.1
)
Amortization of prior service cost (credit) (b)
—

 
0.1

 
0.2

 
(6.3
)
 
(6.3
)
 
(6.3
)
Amortization of actuarial loss (c)
8.0

 
15.2

 
14.1

 
1.1

 
2.7

 
3.5

Additional benefit costs (d)
—

 
2.6

 
—

 
—

 
—

 
—

 

$4.6

 

$14.2

 

$13.3

 

($4.7
)
 

($2.7
)
 

($0.5
)
WPL
Defined Benefit Pension Plans
 
OPEB Plans
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost

$4.9

 

$5.9

 

$5.2

 

$2.0

 

$2.5

 

$2.7

Interest cost
22.6

 
20.7

 
21.6

 
3.8

 
3.4

 
4.1

Expected return on plan assets (a)
(32.4
)
 
(31.9
)
 
(29.6
)
 
(1.3
)
 
(1.3
)
 
(1.3
)
Amortization of prior service cost (credit) (b)
0.3

 
0.3

 
0.4

 
(3.9
)
 
(3.9
)
 
(3.9
)
Amortization of actuarial loss (c)
9.2

 
17.1

 
15.7

 
1.3

 
1.9

 
2.3

Additional benefit costs (d)
—

 
0.6

 
0.1

 
—

 
—

 
—

 

$4.6

 

$12.7

 

$13.4

 

$1.9

 

$2.6

 

$3.9


(a)
The expected return on plan assets is based on the expected rate of return on plan assets and the fair value approach to the market-related value of plan assets.
(b)
Unrecognized prior service costs (credits) for the OPEB plans are amortized over the average future service period to full eligibility of the participants of each plan.
(c)
Unrecognized net actuarial gains or losses in excess of 10% of the greater of the plans’ benefit obligations or assets are amortized over the average future service lives of plan participants, except for the Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits.
(d)
In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement.
(e)
Settlement losses related to payments made to retired executives of Alliant Energy.
Schedule Of Qualified And Non-Qualified Pension And Other Postretirement Benefits Costs
The following table includes the allocated qualified and non-qualified pension and OPEB costs (credits) associated with Corporate Services employees providing services to IPL and WPL (in millions):
 
Pension Benefits Costs (a)
 
OPEB Costs (Credits)
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
IPL

$1.4

 

$4.8

 

$4.9

 

($0.3
)
 

($0.3
)
 

$0.1

WPL
1.1

 
3.6

 
3.6

 
(0.2
)
 
(0.2
)
 
0.1


(a)
Refer to IPL’s and WPL’s “Net Periodic Benefit Costs (Credits)” tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013.
Estimated Amortization From Regulatory Assets And Regulatory Liabilities On The Consolidated Balance Sheets And Accumulated Other Comprehensive Loss On Alliant Energy's Consolidated Balance Sheet Into Net Periodic Benefit Cost
The estimated amortization from “Regulatory assets” and “Regulatory liabilities” on the balance sheets and AOCL on Alliant Energy’s balance sheet into net periodic benefit cost in 2015 is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
Defined Benefit
 
 
 
Defined Benefit
 
 
 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
 
Pension Plans
 
OPEB Plans
 
Pension Plans
 
OPEB Plans
Actuarial loss

$35.4

 

$4.9

 

$15.3

 

$2.3

 

$16.8

 

$2.3

Prior service cost (credit)
(0.3
)
 
(11.3
)
 
(0.1
)
 
(6.1
)
 
0.2

 
(3.5
)
 

$35.1

 

($6.4
)
 

$15.2

 

($3.8
)
 

$17.0

 

($1.2
)
Funded Status Of Benefit Plans
A reconciliation of the funded status of IPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on IPL’s balance sheets at December 31 was as follows (in millions):
 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
IPL
2014
 
2013
 
2014
 
2013
Change in benefit obligation:
 
 
 
 
 
 
 
Net benefit obligation at January 1

$514.0

 

$559.2

 

$87.8

 

$96.0

Service cost
7.2

 
8.6

 
2.4

 
2.9

Interest cost
25.1

 
22.9

 
3.9

 
3.6

Plan participants’ contributions
—

 
—

 
0.9

 
0.9

Additional benefit costs
—

 
2.6

 
—

 
—

Actuarial (gain) loss
91.4

 
(44.3
)
 
8.6

 
(7.0
)
Gross benefits paid
(34.6
)
 
(35.0
)
 
(7.2
)
 
(8.6
)
Net benefit obligation at December 31
603.1

 
514.0

 
96.4

 
87.8

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at January 1
485.9

 
458.8

 
81.2

 
78.8

Actual return on plan assets
32.1

 
61.2

 
3.6

 
10.0

Employer contributions
1.3

 
0.9

 
0.2

 
0.1

Plan participants’ contributions
—

 
—

 
0.9

 
0.9

Gross benefits paid
(34.6
)
 
(35.0
)
 
(7.2
)
 
(8.6
)
Fair value of plan assets at December 31
484.7

 
485.9

 
78.7

 
81.2

Under funded status at December 31

($118.4
)
 

($28.1
)
 

($17.7
)
 

($6.6
)

 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
IPL
2014
 
2013
 
2014
 
2013
Amounts recognized on the balance sheets consist of:
 
 
 
 
 
 
 
Non-current assets

$—

 

$—

 

$1.2

 

$8.8

Other current liabilities
(0.8
)
 
(0.8
)
 
—

 
—

Pension and other benefit obligations
(117.6
)
 
(27.3
)
 
(18.9
)
 
(15.4
)
Net amounts recognized at December 31

($118.4
)
 

($28.1
)
 

($17.7
)
 

($6.6
)
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a):
 
 
 
 
 
 
 
Net actuarial loss

$233.1

 

$146.1

 

$27.9

 

$18.2

Prior service credit
(2.6
)
 
(2.6
)
 
(8.7
)
 
(15.0
)
 

$230.5

 

$143.5

 

$19.2

 

$3.2


(a)
Refer to Note 2 for amounts recognized in “Regulatory assets” on IPL’s balance sheets. At December 31, 2014 and 2013, $0 and $1.0 million, respectively, of regulatory liabilities were recognized related to IPL’s OPEB plans.
Accumulated Benefit Obligations
Included in the following tables are accumulated benefit obligations, aggregate amounts applicable to defined benefit pension and OPEB plans with accumulated benefit obligations in excess of plan assets, as well as defined benefit pension plans with projected benefit obligations in excess of plan assets as of the December 31 measurement date (in millions):
 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
Alliant Energy
2014
 
2013
 
2014
 
2013
Accumulated benefit obligations

$1,255.0

 

$1,071.7

 

$231.1

 

$208.7

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
1,255.0

 
406.5

 
231.1

 
208.7

Fair value of plan assets
1,018.1

 
347.6

 
121.6

 
124.9

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
1,301.5

 
1,113.4

 
N/A

 
N/A

Fair value of plan assets
1,018.1

 
1,022.9

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
IPL
2014
 
2013
 
2014
 
2013
Accumulated benefit obligations

$575.5

 

$491.5

 

$96.4

 

$87.8

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
575.5

 
159.3

 
96.4

 
87.8

Fair value of plan assets
484.7

 
144.6

 
78.7

 
81.2

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
603.1

 
514.0

 
N/A

 
N/A

Fair value of plan assets
484.7

 
485.9

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
WPL
2014
 
2013
 
2014
 
2013
Accumulated benefit obligations

$532.5

 

$446.7

 

$94.0

 

$85.6

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
532.5

 
115.6

 
94.0

 
85.6

Fair value of plan assets
440.3

 
106.8

 
21.8

 
21.7

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
547.6

 
460.8

 
N/A

 
N/A

Fair value of plan assets
440.3

 
438.8

 
N/A

 
N/A
Regulatory Assets and Regulatory Liabilities
In addition to the amounts recognized in “Regulatory assets and regulatory liabilities” in the above tables for IPL and WPL, “Regulatory assets” and “Regulatory liabilities” were recognized for amounts associated with Corporate Services employees participating in other Alliant Energy sponsored benefit plans that were allocated to IPL and WPL at December 31 as follows (in millions):
 
IPL
 
WPL
 
2014
 
2013
 
2014
 
2013
Regulatory assets

$38.2

 

$26.5

 

$28.0

 

$19.8

Regulatory liabilities
—

 
1.7

 
—

 
1.3
Estimated Future Employer Contributions
Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2015 is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
Defined benefit pension plans (a)

$2.5

 

$0.8

 

$0.2

OPEB plans
5.7

 
—

 
5.5


(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.
Expected Benefit Payments
Expected benefit payments for the qualified and non-qualified defined benefit plans, which reflect expected future service, as appropriate, are as follows (in millions):
Alliant Energy
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Defined benefit pension benefits

$66.7

 

$71.5

 

$69.3

 

$72.9

 

$73.6

 

$396.1

OPEB
17.6

 
16.8

 
16.7

 
16.9

 
17.0

 
84.0

 

$84.3

 

$88.3

 

$86.0

 

$89.8

 

$90.6

 

$480.1

IPL
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Defined benefit pension benefits

$30.4

 

$31.6

 

$33.1

 

$34.9

 

$34.7

 

$189.9

OPEB
7.4

 
7.2

 
7.2

 
7.2

 
7.2

 
35.3

 

$37.8

 

$38.8

 

$40.3

 

$42.1

 

$41.9

 

$225.2

WPL
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Defined benefit pension benefits

$28.4

 

$28.0

 

$28.8

 

$30.1

 

$30.5

 

$163.4

OPEB
7.7

 
7.0

 
7.0

 
7.0

 
7.1

 
34.2

 

$36.1

 

$35.0

 

$35.8

 

$37.1

 

$37.6

 

$197.6
Recognized Compensation Expense And Income Tax Benefits
A summary of compensation expense (including amounts allocated to IPL and WPL) and the related income tax benefits recognized for share-based compensation awards was as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Compensation expense

$15.3

 

$12.0

 

$6.9

 

$8.3

 

$6.2

 

$3.6

 

$6.4

 

$5.2

 

$3.0

Income tax benefits
6.2

 
4.8

 
2.8

 
3.4

 
2.5

 
1.5

 
2.6

 
2.1

 
1.2
Carrying Value Of Entity's Deferred Compensation Obligations Interest And Equity Accounts
At December 31, the carrying value of deferred compensation obligations for participants’ interest and equity accounts, which approximates fair market value, was as follows (in millions):
 
Alliant Energy
 
IPL
 
2014
 
2013
 
2014
 
2013
Carrying value
$17.8
 
$15.9
 
$5.2
 
$5.2
WPL [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Assumptions Used To Measure Benefit Plans
The assumptions for defined benefit pension and OPEB plans at the measurement date of December 31 were as follows:
 
Defined Benefit Pension Plans
 
OPEB Plans
Alliant Energy
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for benefit obligations
4.18%
 
4.97%
 
4.11%
 
3.97%
 
4.59%
 
3.82%
Discount rate for net periodic cost
4.97%
 
4.11%
 
4.86%
 
4.59%
 
3.82%
 
4.60%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.90%
 
7.40%
 
7.40%
 
7.50%
Rate of compensation increase
3.50
%
-
4.50%
 
3.50
%
-
4.50%
 
3.50
%
-
4.50%
 
N/A
 
3.50%
 
3.50%
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
6.75%
 
7.00%
 
7.50%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
IPL
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for benefit obligations
4.20%
 
5.05%
 
4.20%
 
3.94%
 
4.55%
 
3.76%
Discount rate for net periodic cost
5.05%
 
4.20%
 
4.95%
 
4.55%
 
3.76%
 
4.60%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.90%
 
7.60%
 
7.50%
 
7.40%
Rate of compensation increase
3.50%
 
3.50%
 
3.50%
 
N/A
 
3.50%
 
3.50%
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
6.75%
 
7.00%
 
7.50%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
WPL
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate for benefit obligations
4.20%
 
5.05%
 
4.20%
 
3.96%
 
4.56%
 
3.81%
Discount rate for net periodic cost
5.05%
 
4.20%
 
4.95%
 
4.56%
 
3.81%
 
4.60%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.90%
 
7.30%
 
7.20%
 
7.00%
Rate of compensation increase
3.50%
 
3.50%
 
3.50%
 
N/A
 
3.50%
 
3.50%
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
6.75%
 
7.00%
 
7.50%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
Defined Benefit Pension And Other Postretirement Benefits Plans
The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans 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 their 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. In the “IPL” and “WPL” tables below, the OPEB plans costs (credits) represent costs (credits) for IPL and WPL employees, respectively, as well as amounts directly assigned to each of IPL and WPL related to their current and former non-bargaining employees who are participants in the Corporate Services sponsored OPEB plan.
Alliant Energy
Defined Benefit Pension Plans
 
OPEB Plans
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost

$13.1

 

$15.7

 

$13.5

 

$5.2

 

$6.3

 

$6.9

Interest cost
54.1

 
49.0

 
51.6

 
9.5

 
8.5

 
10.2

Expected return on plan assets (a)
(74.9
)
 
(74.0
)
 
(68.8
)
 
(8.3
)
 
(8.1
)
 
(7.5
)
Amortization of prior service cost (credit) (b)
—

 
0.2

 
0.3

 
(11.9
)
 
(11.9
)
 
(12.0
)
Amortization of actuarial loss (c)
19.5

 
36.2

 
33.3

 
2.4

 
4.9

 
6.3

Additional benefit costs (d)
—

 
9.0

 
0.1

 
—

 
—

 
—

Settlement losses (e)
—

 
—

 
5.4

 
—

 
—

 
—

 

$11.8

 

$36.1

 

$35.4

 

($3.1
)
 

($0.3
)
 

$3.9

IPL
Defined Benefit Pension Plans
 
OPEB Plans
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost

$7.2

 

$8.6

 

$7.5

 

$2.4

 

$2.9

 

$3.0

Interest cost
25.1

 
22.9

 
24.1

 
3.9

 
3.6

 
4.4

Expected return on plan assets (a)
(35.7
)
 
(35.2
)
 
(32.6
)
 
(5.8
)
 
(5.6
)
 
(5.1
)
Amortization of prior service cost (credit) (b)
—

 
0.1

 
0.2

 
(6.3
)
 
(6.3
)
 
(6.3
)
Amortization of actuarial loss (c)
8.0

 
15.2

 
14.1

 
1.1

 
2.7

 
3.5

Additional benefit costs (d)
—

 
2.6

 
—

 
—

 
—

 
—

 

$4.6

 

$14.2

 

$13.3

 

($4.7
)
 

($2.7
)
 

($0.5
)
WPL
Defined Benefit Pension Plans
 
OPEB Plans
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost

$4.9

 

$5.9

 

$5.2

 

$2.0

 

$2.5

 

$2.7

Interest cost
22.6

 
20.7

 
21.6

 
3.8

 
3.4

 
4.1

Expected return on plan assets (a)
(32.4
)
 
(31.9
)
 
(29.6
)
 
(1.3
)
 
(1.3
)
 
(1.3
)
Amortization of prior service cost (credit) (b)
0.3

 
0.3

 
0.4

 
(3.9
)
 
(3.9
)
 
(3.9
)
Amortization of actuarial loss (c)
9.2

 
17.1

 
15.7

 
1.3

 
1.9

 
2.3

Additional benefit costs (d)
—

 
0.6

 
0.1

 
—

 
—

 
—

 

$4.6

 

$12.7

 

$13.4

 

$1.9

 

$2.6

 

$3.9


(a)
The expected return on plan assets is based on the expected rate of return on plan assets and the fair value approach to the market-related value of plan assets.
(b)
Unrecognized prior service costs (credits) for the OPEB plans are amortized over the average future service period to full eligibility of the participants of each plan.
(c)
Unrecognized net actuarial gains or losses in excess of 10% of the greater of the plans’ benefit obligations or assets are amortized over the average future service lives of plan participants, except for the Cash Balance Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits.
(d)
In 2013, Alliant Energy filed a stipulation agreement with the Court related to the class-action lawsuit against the Cash Balance Plan. As a result, Alliant Energy recognized $9.0 million of additional benefits costs in 2013 related to the agreement. IPL recognized $5.5 million ($2.6 million directly assigned and $2.9 million allocated by Corporate Services) and WPL recognized $2.8 million ($0.6 million directly assigned and $2.2 million allocated by Corporate Services) of additional benefits costs in 2013 related to the agreement.
(e)
Settlement losses related to payments made to retired executives of Alliant Energy.
Schedule Of Qualified And Non-Qualified Pension And Other Postretirement Benefits Costs
The following table includes the allocated qualified and non-qualified pension and OPEB costs (credits) associated with Corporate Services employees providing services to IPL and WPL (in millions):
 
Pension Benefits Costs (a)
 
OPEB Costs (Credits)
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
IPL

$1.4

 

$4.8

 

$4.9

 

($0.3
)
 

($0.3
)
 

$0.1

WPL
1.1

 
3.6

 
3.6

 
(0.2
)
 
(0.2
)
 
0.1


(a)
Refer to IPL’s and WPL’s “Net Periodic Benefit Costs (Credits)” tables above for additional benefits costs related to the Cash Balance Plan allocated to IPL and WPL by Corporate Services in 2013.
Estimated Amortization From Regulatory Assets And Regulatory Liabilities On The Consolidated Balance Sheets And Accumulated Other Comprehensive Loss On Alliant Energy's Consolidated Balance Sheet Into Net Periodic Benefit Cost
The estimated amortization from “Regulatory assets” and “Regulatory liabilities” on the balance sheets and AOCL on Alliant Energy’s balance sheet into net periodic benefit cost in 2015 is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
Defined Benefit
 
 
 
Defined Benefit
 
 
 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
 
Pension Plans
 
OPEB Plans
 
Pension Plans
 
OPEB Plans
Actuarial loss

$35.4

 

$4.9

 

$15.3

 

$2.3

 

$16.8

 

$2.3

Prior service cost (credit)
(0.3
)
 
(11.3
)
 
(0.1
)
 
(6.1
)
 
0.2

 
(3.5
)
 

$35.1

 

($6.4
)
 

$15.2

 

($3.8
)
 

$17.0

 

($1.2
)
Funded Status Of Benefit Plans
A reconciliation of the funded status of WPL’s qualified and non-qualified defined benefit pension and OPEB plans to the amounts recognized on WPL’s balance sheets at December 31 was as follows (in millions):
 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
WPL
2014
 
2013
 
2014
 
2013
Change in benefit obligation:
 
 
 
 
 
 
 
Net benefit obligation at January 1

$460.8

 

$506.7

 

$85.6

 

$89.1

Service cost
4.9

 
5.9

 
2.0

 
2.5

Interest cost
22.6

 
20.7

 
3.8

 
3.4

Plan participants’ contributions
—

 
—

 
1.3

 
1.2

Additional benefit costs
—

 
0.6

 
—

 
—

Actuarial (gain) loss
86.7

 
(41.1
)
 
9.2

 
(3.0
)
Gross benefits paid
(27.4
)
 
(32.0
)
 
(7.9
)
 
(7.6
)
Net benefit obligation at December 31
547.6

 
460.8

 
94.0

 
85.6

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at January 1
438.8

 
415.4

 
21.7

 
22.3

Actual return on plan assets
28.6

 
55.2

 
1.2

 
2.5

Employer contributions
0.3

 
0.2

 
5.5

 
3.3

Plan participants’ contributions
—

 
—

 
1.3

 
1.2

Gross benefits paid
(27.4
)
 
(32.0
)
 
(7.9
)
 
(7.6
)
Fair value of plan assets at December 31
440.3

 
438.8

 
21.8

 
21.7

Under funded status at December 31

($107.3
)
 

($22.0
)
 

($72.2
)
 

($63.9
)

 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
WPL
2014
 
2013
 
2014
 
2013
Amounts recognized on the balance sheets consist of:
 
 
 
 
 
 
 
Non-current assets

$—

 

$—

 

$4.9

 

$5.8

Other current liabilities
(0.1
)
 
(0.2
)
 
(5.5
)
 
(4.8
)
Pension and other benefit obligations
(107.2
)
 
(21.8
)
 
(71.6
)
 
(64.9
)
Net amounts recognized at December 31

($107.3
)
 

($22.0
)
 

($72.2
)
 

($63.9
)
Amounts recognized in Regulatory Assets and Regulatory Liabilities consist of (a):
 
 
 
 
 
 
 
Net actuarial loss

$233.5

 

$152.2

 

$26.3

 

$18.3

Prior service credit
(1.0
)
 
(0.7
)
 
(5.6
)
 
(9.5
)
 

$232.5

 

$151.5

 

$20.7

 

$8.8


(a)
Refer to Note 2 for amounts recognized in “Regulatory assets” on WPL’s balance sheets. At December 31, 2014 and 2013, $1.1 million and $1.1 million, respectively, of regulatory liabilities were recognized related to WPL’s OPEB plans.
Accumulated Benefit Obligations
Included in the following tables are accumulated benefit obligations, aggregate amounts applicable to defined benefit pension and OPEB plans with accumulated benefit obligations in excess of plan assets, as well as defined benefit pension plans with projected benefit obligations in excess of plan assets as of the December 31 measurement date (in millions):
 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
Alliant Energy
2014
 
2013
 
2014
 
2013
Accumulated benefit obligations

$1,255.0

 

$1,071.7

 

$231.1

 

$208.7

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
1,255.0

 
406.5

 
231.1

 
208.7

Fair value of plan assets
1,018.1

 
347.6

 
121.6

 
124.9

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
1,301.5

 
1,113.4

 
N/A

 
N/A

Fair value of plan assets
1,018.1

 
1,022.9

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
IPL
2014
 
2013
 
2014
 
2013
Accumulated benefit obligations

$575.5

 

$491.5

 

$96.4

 

$87.8

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
575.5

 
159.3

 
96.4

 
87.8

Fair value of plan assets
484.7

 
144.6

 
78.7

 
81.2

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
603.1

 
514.0

 
N/A

 
N/A

Fair value of plan assets
484.7

 
485.9

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
WPL
2014
 
2013
 
2014
 
2013
Accumulated benefit obligations

$532.5

 

$446.7

 

$94.0

 

$85.6

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
532.5

 
115.6

 
94.0

 
85.6

Fair value of plan assets
440.3

 
106.8

 
21.8

 
21.7

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
547.6

 
460.8

 
N/A

 
N/A

Fair value of plan assets
440.3

 
438.8

 
N/A

 
N/A
Regulatory Assets and Regulatory Liabilities
In addition to the amounts recognized in “Regulatory assets and regulatory liabilities” in the above tables for IPL and WPL, “Regulatory assets” and “Regulatory liabilities” were recognized for amounts associated with Corporate Services employees participating in other Alliant Energy sponsored benefit plans that were allocated to IPL and WPL at December 31 as follows (in millions):
 
IPL
 
WPL
 
2014
 
2013
 
2014
 
2013
Regulatory assets

$38.2

 

$26.5

 

$28.0

 

$19.8

Regulatory liabilities
—

 
1.7

 
—

 
1.3
Estimated Future Employer Contributions
Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2015 is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
Defined benefit pension plans (a)

$2.5

 

$0.8

 

$0.2

OPEB plans
5.7

 
—

 
5.5


(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.
Expected Benefit Payments
Expected benefit payments for the qualified and non-qualified defined benefit plans, which reflect expected future service, as appropriate, are as follows (in millions):
Alliant Energy
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Defined benefit pension benefits

$66.7

 

$71.5

 

$69.3

 

$72.9

 

$73.6

 

$396.1

OPEB
17.6

 
16.8

 
16.7

 
16.9

 
17.0

 
84.0

 

$84.3

 

$88.3

 

$86.0

 

$89.8

 

$90.6

 

$480.1

IPL
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Defined benefit pension benefits

$30.4

 

$31.6

 

$33.1

 

$34.9

 

$34.7

 

$189.9

OPEB
7.4

 
7.2

 
7.2

 
7.2

 
7.2

 
35.3

 

$37.8

 

$38.8

 

$40.3

 

$42.1

 

$41.9

 

$225.2

WPL
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Defined benefit pension benefits

$28.4

 

$28.0

 

$28.8

 

$30.1

 

$30.5

 

$163.4

OPEB
7.7

 
7.0

 
7.0

 
7.0

 
7.1

 
34.2

 

$36.1

 

$35.0

 

$35.8

 

$37.1

 

$37.6

 

$197.6
Recognized Compensation Expense And Income Tax Benefits
A summary of compensation expense (including amounts allocated to IPL and WPL) and the related income tax benefits recognized for share-based compensation awards was as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Compensation expense

$15.3

 

$12.0

 

$6.9

 

$8.3

 

$6.2

 

$3.6

 

$6.4

 

$5.2

 

$3.0

Income tax benefits
6.2

 
4.8

 
2.8

 
3.4

 
2.5

 
1.5

 
2.6

 
2.1

 
1.2
Pension Plans, Defined Benefit [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, 2014, the current target ranges and actual allocations for the defined benefit pension plan assets were as follows:
 
Target Range
 
Actual
 
Allocation
 
Allocation
Cash and equivalents
0
%
-
5%
 
5%
Equity securities:
 
 
 
 
 
U.S. large cap core
8
%
-
18%
 
13%
U.S. large cap value
2.5
%
-
12.5%
 
7%
U.S. large cap growth
2.5
%
-
12.5%
 
7%
U.S. small cap value
0
%
-
4%
 
1%
U.S. small cap growth
0
%
-
4%
 
2%
International - developed markets
7
%
-
19%
 
10%
International - emerging markets
0
%
-
10%
 
5%
Global asset allocation securities
5
%
-
15%
 
10%
Risk parity allocation securities
5
%
-
15%
 
10%
Fixed income securities
20
%
-
40%
 
30%
At December 31, the fair values of Alliant Energy’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions):
 
2014
 
2013
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$49.3

 

$—

 

$49.3

 

$—

 

$32.6

 

$—

 

$32.6

 

$—

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. large cap core
137.2

 
137.2

 
—

 
—

 
134.1

 
134.1

 
—

 
—

U.S. large cap value
72.2

 
—

 
72.2

 
—

 
77.0

 
—

 
77.0

 
—

U.S. large cap growth
73.2

 
—

 
73.2

 
—

 
77.4

 
—

 
77.4

 
—

U.S. small cap value
15.2

 
—

 
15.2

 
—

 
20.7

 
—

 
20.7

 
—

U.S. small cap growth
15.9

 
15.9

 
—

 
—

 
20.8

 
20.8

 
—

 
—

International - developed markets
102.9

 
52.1

 
50.8

 
—

 
136.3

 
68.0

 
68.3

 
—

International - emerging markets
47.2

 
47.2

 
—

 
—

 
48.4

 
48.4

 
—

 
—

Global asset allocation securities
99.9

 
57.2

 
42.7

 
—

 
99.1

 
56.7

 
42.4

 
—

Risk parity allocation securities
102.5

 
—

 
102.5

 
—

 
96.1

 
—

 
96.1

 
—

Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
0.1

 
—

 
0.1

 
—

 
29.2

 
—

 
29.2

 
—

Government and agency obligations
—

 
—

 
—

 
—

 
49.1

 
—

 
49.1

 
—

Fixed income funds
302.7

 
0.2

 
302.5

 
—

 
202.2

 
0.2

 
202.0

 
—

 
1,018.3

 

$309.8

 

$708.5

 

$—

 
1,023.0

 

$328.2

 

$694.8

 

$—

Accrued investment income
0.1

 
 
 
 
 
 
 
0.7

 
 
 
 
 
 
Due to brokers, net (pending trades with brokers)
(0.3
)
 
 
 
 
 
 
 
(0.8
)
 
 
 
 
 
 
Total pension plan assets

$1,018.1

 
 
 
 
 
 
 

$1,022.9

 
 
 
 
 
 
Pension Plans, Defined Benefit [Member] | IPL [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, 2014, the current target ranges and actual allocations for the defined benefit pension plan assets were as follows:
 
Target Range
 
Actual
 
Allocation
 
Allocation
Cash and equivalents
0
%
-
5%
 
5%
Equity securities:
 
 
 
 
 
U.S. large cap core
8
%
-
18%
 
13%
U.S. large cap value
2.5
%
-
12.5%
 
7%
U.S. large cap growth
2.5
%
-
12.5%
 
7%
U.S. small cap value
0
%
-
4%
 
1%
U.S. small cap growth
0
%
-
4%
 
2%
International - developed markets
7
%
-
19%
 
10%
International - emerging markets
0
%
-
10%
 
5%
Global asset allocation securities
5
%
-
15%
 
10%
Risk parity allocation securities
5
%
-
15%
 
10%
Fixed income securities
20
%
-
40%
 
30%
At December 31, the fair values of IPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions):
 
2014
 
2013
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$23.5

 

$—

 

$23.5

 

$—

 

$15.4

 

$—

 

$15.4

 

$—

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. large cap core
65.3

 
65.3

 
—

 
—

 
63.7

 
63.7

 
—

 
—

U.S. large cap value
34.4

 
—

 
34.4

 
—

 
36.6

 
—

 
36.6

 
—

U.S. large cap growth
34.9

 
—

 
34.9

 
—

 
36.8

 
—

 
36.8

 
—

U.S. small cap value
7.2

 
—

 
7.2

 
—

 
9.8

 
—

 
9.8

 
—

U.S. small cap growth
7.6

 
7.6

 
—

 
—

 
9.9

 
9.9

 
—

 
—

International - developed markets
49.0

 
24.8

 
24.2

 
—

 
64.8

 
32.3

 
32.5

 
—

International - emerging markets
22.5

 
22.5

 
—

 
—

 
23.0

 
23.0

 
—

 
—

Global asset allocation securities
47.5

 
27.2

 
20.3

 
—

 
47.1

 
27.0

 
20.1

 
—

Risk parity allocation securities
48.8

 
—

 
48.8

 
—

 
45.7

 
—

 
45.7

 
—

Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
—

 
—

 
—

 
—

 
13.9

 
—

 
13.9

 
—

Government and agency obligations
—

 
—

 
—

 
—

 
23.3

 
—

 
23.3

 
—

Fixed income funds
144.1

 
0.1

 
144.0

 
—

 
96.1

 
0.1

 
96.0

 
—

 
484.8

 

$147.5

 

$337.3

 

$—

 
486.1

 

$156.0

 

$330.1

 

$—

Accrued investment income
0.1

 
 
 
 
 
 
 
0.2

 
 
 
 
 
 
Due to brokers, net (pending trades with brokers)
(0.2
)
 
 
 
 
 
 
 
(0.4
)
 
 
 
 
 
 
Total pension plan assets

$484.7

 
 
 
 
 
 
 

$485.9

 
 
 
 
 
 
Pension Plans, Defined Benefit [Member] | WPL [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, the fair values of WPL’s qualified and non-qualified defined benefit pension plans assets by asset category and fair value hierarchy level were as follows (in millions):
 
2014
 
2013
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$21.3

 

$—

 

$21.3

 

$—

 

$14.0

 

$—

 

$14.0

 

$—

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. large cap core
59.3

 
59.3

 
—

 
—

 
57.5

 
57.5

 
—

 
—

U.S. large cap value
31.3

 
—

 
31.3

 
—

 
33.1

 
—

 
33.1

 
—

U.S. large cap growth
31.7

 
—

 
31.7

 
—

 
33.2

 
—

 
33.2

 
—

U.S. small cap value
6.6

 
—

 
6.6

 
—

 
8.9

 
—

 
8.9

 
—

U.S. small cap growth
6.9

 
6.9

 
—

 
—

 
8.9

 
8.9

 
—

 
—

International - developed markets
44.5

 
22.5

 
22.0

 
—

 
58.5

 
29.2

 
29.3

 
—

International - emerging markets
20.4

 
20.4

 
—

 
—

 
20.8

 
20.8

 
—

 
—

Global asset allocation securities
43.2

 
24.8

 
18.4

 
—

 
42.5

 
24.3

 
18.2

 
—

Risk parity allocation securities
44.3

 
—

 
44.3

 
—

 
41.2

 
—

 
41.2

 
—

Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
—

 
—

 
—

 
—

 
12.5

 
—

 
12.5

 
—

Government and agency obligations
—

 
—

 
—

 
—

 
21.0

 
—

 
21.0

 
—

Fixed income funds
130.9

 
0.1

 
130.8

 
—

 
86.8

 
0.1

 
86.7

 
—

 
440.4

 

$134.0

 

$306.4

 

$—

 
438.9

 

$140.8

 

$298.1

 

$—

Accrued investment income
—

 
 
 
 
 
 
 
0.2

 
 
 
 
 
 
Due to brokers, net (pending trades with brokers)
(0.1
)
 
 
 
 
 
 
 
(0.3
)
 
 
 
 
 
 
Total pension plan assets

$440.3

 
 
 
 
 
 
 

$438.8

 
 
 
 
 
 

At December 31, 2014, the current target ranges and actual allocations for the defined benefit pension plan assets were as follows:
 
Target Range
 
Actual
 
Allocation
 
Allocation
Cash and equivalents
0
%
-
5%
 
5%
Equity securities:
 
 
 
 
 
U.S. large cap core
8
%
-
18%
 
13%
U.S. large cap value
2.5
%
-
12.5%
 
7%
U.S. large cap growth
2.5
%
-
12.5%
 
7%
U.S. small cap value
0
%
-
4%
 
1%
U.S. small cap growth
0
%
-
4%
 
2%
International - developed markets
7
%
-
19%
 
10%
International - emerging markets
0
%
-
10%
 
5%
Global asset allocation securities
5
%
-
15%
 
10%
Risk parity allocation securities
5
%
-
15%
 
10%
Fixed income securities
20
%
-
40%
 
30%
Defined Contribution Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Employees Participate In Defined Contribution Retirement Plans
Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions, were as follows (in millions):
 
Alliant Energy
 
IPL (a)
 
WPL (a)
 
2014
 
2013
 
2012
 
2014

 
2013

 
2012

 
2014
 
2013
 
2012
401(k) costs

$22.5

 

$19.2

 

$18.5

 

$11.1

 

$9.9

 

$9.6

 

$10.5

 

$8.5

 

$8.1


(a)
IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees.
Defined Contribution Plans [Member] | IPL [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Employees Participate In Defined Contribution Retirement Plans
Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions, were as follows (in millions):
 
Alliant Energy
 
IPL (a)
 
WPL (a)
 
2014
 
2013
 
2012
 
2014

 
2013

 
2012

 
2014
 
2013
 
2012
401(k) costs

$22.5

 

$19.2

 

$18.5

 

$11.1

 

$9.9

 

$9.6

 

$10.5

 

$8.5

 

$8.1


(a)
IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees.
Defined Contribution Plans [Member] | WPL [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Employees Participate In Defined Contribution Retirement Plans
Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions, were as follows (in millions):
 
Alliant Energy
 
IPL (a)
 
WPL (a)
 
2014
 
2013
 
2012
 
2014

 
2013

 
2012

 
2014
 
2013
 
2012
401(k) costs

$22.5

 

$19.2

 

$18.5

 

$11.1

 

$9.9

 

$9.6

 

$10.5

 

$8.5

 

$8.1


(a)
IPL’s and WPL’s amounts include allocated costs associated with Corporate Services employees.
Other Postretirement Benefits Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, 2014, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million were as follows:
 
Target Range
 
Actual
 
Allocation
 
Allocation
Cash and equivalents
0
%
-
5%
 
2%
Equity securities:
 
 
 
 
 
Domestic
25
%
-
45%
 
36%
International
10
%
-
20%
 
14%
Global asset allocation securities
20
%
-
40%
 
29%
Fixed income securities
10
%
-
30%
 
19%
At December 31, the fair values of Alliant Energy’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions):
 
2014
 
2013
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$3.7

 

$—

 

$3.7

 

$—

 

$3.9

 

$—

 

$3.9

 

$—

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. blend
35.8

 
35.8

 
—

 
—

 
36.8

 
36.8

 
—

 
—

U.S. large cap core
2.9

 
2.9

 
—

 
—

 
2.9

 
2.9

 
—

 
—

U.S. large cap value
1.5

 
—

 
1.5

 
—

 
1.7

 
—

 
1.7

 
—

U.S. large cap growth
1.6

 
—

 
1.6

 
—

 
1.7

 
—

 
1.7

 
—

U.S. small cap value
0.3

 
—

 
0.3

 
—

 
0.5

 
—

 
0.5

 
—

U.S. small cap growth
0.4

 
0.4

 
—

 
—

 
0.5

 
0.5

 
—

 
—

International - blend
14.2

 
14.2

 
—

 
—

 
15.4

 
15.4

 
—

 
—

International - developed markets
2.2

 
1.1

 
1.1

 
—

 
3.0

 
1.5

 
1.5

 
—

International - emerging markets
1.0

 
1.0

 
—

 
—

 
1.1

 
1.1

 
—

 
—

Global asset allocation securities
30.3

 
29.4

 
0.9

 
—

 
30.4

 
29.5

 
0.9

 
—

Risk parity allocation securities
2.2

 
—

 
2.2

 
—

 
2.1

 
—

 
2.1

 
—

Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
—

 
—

 
—

 
—

 
0.6

 
—

 
0.6

 
—

Government and agency obligations
—

 
—

 
—

 
—

 
1.1

 
—

 
1.1

 
—

Fixed income funds
25.5

 
19.0

 
6.5

 
—

 
23.2

 
18.8

 
4.4

 
—

Total OPEB plan assets

$121.6

 

$103.8

 

$17.8

 

$—

 

$124.9

 

$106.5

 

$18.4

 

$—
Other Postretirement Benefits Plans [Member] | IPL [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, the fair values of IPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions):
 
2014
 
2013
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$1.4

 

$—

 

$1.4

 

$—

 

$1.5

 

$—

 

$1.5

 

$—

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. blend
27.2

 
27.2

 
—

 
—

 
27.8

 
27.8

 
—

 
—

U.S. large cap core
0.5

 
0.5

 
—

 
—

 
0.7

 
0.7

 
—

 
—

U.S. large cap value
0.3

 
—

 
0.3

 
—

 
0.4

 
—

 
0.4

 
—

U.S. large cap growth
0.3

 
—

 
0.3

 
—

 
0.4

 
—

 
0.4

 
—

U.S. small cap value
0.1

 
—

 
0.1

 
—

 
0.1

 
—

 
0.1

 
—

U.S. small cap growth
0.1

 
0.1

 
—

 
—

 
0.1

 
0.1

 
—

 
—

International - blend
10.7

 
10.7

 
—

 
—

 
11.6

 
11.6

 
—

 
—

International - developed markets
0.4

 
0.2

 
0.2

 
—

 
0.8

 
0.4

 
0.4

 
—

International - emerging markets
0.2

 
0.2

 
—

 
—

 
0.3

 
0.3

 
—

 
—

Global asset allocation securities
21.6

 
21.5

 
0.1

 
—

 
21.6

 
21.4

 
0.2

 
—

Risk parity allocation securities
0.4

 
—

 
0.4

 
—

 
0.5

 
—

 
0.5

 
—

Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
—

 
—

 
—

 
—

 
0.1

 
—

 
0.1

 
—

Government and agency obligations
—

 
—

 
—

 
—

 
0.3

 
—

 
0.3

 
—

Fixed income funds
15.5

 
14.3

 
1.2

 
—

 
15.0

 
13.9

 
1.1

 
—

Total OPEB plan assets

$78.7

 

$74.7

 

$4.0

 

$—

 

$81.2

 

$76.2

 

$5.0

 

$—

At December 31, 2014, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million were as follows:
 
Target Range
 
Actual
 
Allocation
 
Allocation
Cash and equivalents
0
%
-
5%
 
2%
Equity securities:
 
 
 
 
 
Domestic
25
%
-
45%
 
36%
International
10
%
-
20%
 
14%
Global asset allocation securities
20
%
-
40%
 
29%
Fixed income securities
10
%
-
30%
 
19%
Other Postretirement Benefits Plans [Member] | WPL [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, the fair values of WPL’s OPEB plans assets by asset category and fair value hierarchy level were as follows (in millions):
 
2014
 
2013
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$1.4

 

$—

 

$1.4

 

$—

 

$1.4

 

$—

 

$1.4

 

$—

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. blend
3.6

 
3.6

 
—

 
—

 
3.6

 
3.6

 
—

 
—

U.S. large cap core
1.6

 
1.6

 
—

 
—

 
1.5

 
1.5

 
—

 
—

U.S. large cap value
0.8

 
—

 
0.8

 
—

 
0.8

 
—

 
0.8

 
—

U.S. large cap growth
0.8

 
—

 
0.8

 
—

 
0.8

 
—

 
0.8

 
—

U.S. small cap value
0.2

 
—

 
0.2

 
—

 
0.2

 
—

 
0.2

 
—

U.S. small cap growth
0.2

 
0.2

 
—

 
—

 
0.2

 
0.2

 
—

 
—

International - blend
1.4

 
1.4

 
—

 
—

 
1.5

 
1.5

 
—

 
—

International - developed markets
1.2

 
0.6

 
0.6

 
—

 
1.5

 
0.7

 
0.8

 
—

International - emerging markets
0.5

 
0.5

 
—

 
—

 
0.5

 
0.5

 
—

 
—

Global asset allocation securities
3.8

 
3.3

 
0.5

 
—

 
3.8

 
3.3

 
0.5

 
—

Risk parity allocation securities
1.1

 
—

 
1.1

 
—

 
1.1

 
—

 
1.1

 
—

Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
—

 
—

 
—

 
—

 
0.3

 
—

 
0.3

 
—

Government and agency obligations
—

 
—

 
—

 
—

 
0.5

 
—

 
0.5

 
—

Fixed income funds
5.2

 
1.8

 
3.4

 
—

 
4.0

 
1.8

 
2.2

 
—

Total OPEB plan assets

$21.8

 

$13.0

 

$8.8

 

$—

 

$21.7

 

$13.1

 

$8.6

 

$—



At December 31, 2014, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million were as follows:
 
Target Range
 
Actual
 
Allocation
 
Allocation
Cash and equivalents
0
%
-
5%
 
2%
Equity securities:
 
 
 
 
 
Domestic
25
%
-
45%
 
36%
International
10
%
-
20%
 
14%
Global asset allocation securities
20
%
-
40%
 
29%
Fixed income securities
10
%
-
30%
 
19%
Company Stock Accounts [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Carrying Value And Fair Market Value Of The Deferred Compensation Obligations
At December 31, the carrying value of the deferred compensation obligation for the company stock accounts and the shares in the deferred compensation trust based on the historical value of the shares of Alliant Energy common stock contributed to the rabbi trust, and the fair market value of the shares held in the rabbi trust were as follows (in millions):
 
2014
 
2013
Carrying value

$8.9

 

$8.0

Fair market value
15.9

 
11.7
Performance Shares [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Equity-based Compensation Plans Activity
A summary of the performance shares activity was as follows:
 
2014
 
2013
 
2012
 
Shares (a)
 
Shares (a)
 
Shares (a)
Nonvested shares, January 1
139,940

 
145,277

 
236,979

Granted
51,221

 
49,093

 
45,612

Vested
(45,235
)
 
(54,430
)
 
(111,980
)
Forfeited (b)
(1,502
)
 
—

 
(25,334
)
Nonvested shares, December 31
144,424

 
139,940

 
145,277


(a)
Share amounts represent the target number of performance shares. Each performance share’s value is based on the closing market 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)
Forfeitures were primarily caused by retirements and voluntary terminations of participants.

Certain performance shares vested, resulting in payouts (a combination of cash and common stock) as follows:
 
2014
 
2013
 
2012
 
2011 Grant
 
2010 Grant
 
2009 Grant
Performance shares vested
45,235

 
54,430

 
111,980

Percentage of target number of performance shares
147.5
%
 
197.5
%
 
162.5
%
Aggregate payout value (in millions)

$3.4

 

$4.8

 

$8.0

Payout - cash (in millions)

$2.9

 

$4.4

 

$7.8

Payout - common stock shares issued
4,810

 
4,177

 
6,399
Performance Units [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Equity-based Compensation Plans Activity
A summary of the performance unit activity was as follows:
 
2014
 
2013
 
2012
 
Units (a)
 
Units (a)
 
Units (a)
Nonvested units, January 1
65,912

 
64,969

 
42,996

Granted
20,422

 
22,201

 
24,686

Vested
(20,751
)
 
(19,760
)
 
—

Forfeited
(1,918
)
 
(1,498
)
 
(2,713
)
Nonvested units, December 31
63,665

 
65,912

 
64,969


(a)
Unit amounts represent the target number of performance units. Each performance unit’s value is based on the average 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.

Certain performance units vested, resulting in cash payouts as follows:
 
2014
 
2013
 
2011 Grant
 
2010 Grant
Performance units vested
20,751

 
19,760

Percentage of target number of performance units
147.5
%
 
197.5
%
Payout value (in millions)

$1.2

 

$1.3
Performance-Contingent Restricted Stock [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Equity-based Compensation Plans Activity
A summary of the performance-contingent restricted stock activity was as follows:
 
2014
 
2013
 
2012
 
Shares
 
Weighted
Average
Fair Value
 
Shares
 
Weighted
Average
Fair Value
 
Shares
 
Weighted
Average
Fair Value
Nonvested shares, January 1
158,922

 

$42.71

 
211,651

 

$32.42

 
301,738

 

$32.60

Granted
51,221

 
53.77

 
49,093

 
47.58

 
45,612

 
43.05

Vested (a)
(90,847
)
 
40.91

 
—

 
—

 
(65,172
)
 
32.56

Forfeited (b)
(20,484
)
 
39.85

 
(101,822
)
 
23.67

 
(70,527
)
 
39.93

Nonvested shares, December 31
98,812

 
50.69

 
158,922

 
42.71

 
211,651

 
32.42



(a)
In 2014, 45,612 and 45,235 performance contingent restricted shares granted in 2012 and 2011, respectively, vested because the specified performance criteria for such shares were met. 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 2014 and 2012 were primarily caused by retirements and terminations of participants.
Performance Contingent Cash Awards [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Equity-based Compensation Plans Activity
A summary of the performance contingent cash awards activity was as follows:
 
2014
 
2013
 
2012
 
Awards
 
Awards
 
Awards
Nonvested awards, January 1
96,977

 
59,639

 
46,676

Granted
42,446

 
39,530

 
36,936

Vested (a)
(55,517
)
 
—

 
(21,605
)
Forfeited
(4,976
)
 
(2,192
)
 
(2,368
)
Nonvested awards, December 31
78,930

 
96,977

 
59,639


(a)
In 2014, 34,766 and 20,751 performance contingent cash awards granted in 2012 and 2011 vested, resulting in cash payouts valued at $1.9 million and $1.1 million, respectively. In 2012, 21,605 performance contingent cash awards granted in 2010 vested, resulting in cash payouts valued at $0.9 million.