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Investments | 12 Months Ended
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Dec. 31, 2017
Schedule of Equity Method Investments [Line Items] |
Investments | INVESTMENTS (a) Unconsolidated Equity Investments - Unconsolidated investments accounted for under the equity method of accounting are as follows (in millions):
| Ownership Interest at |  | Carrying Value at December 31, |  | Equity (Income) / Loss
| December 31, 2017 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2015
Alliant Energy |  |  |  |  |  |  |  |  |  |  |
ATC Investment (a) | 16%-20% |  |  | $274.2 |  |  |  | $317.6 |  |  |  | ($42.4 | ) |  |  | ($39.1 | ) |  |  | ($34.2 | )
Wind Investment in Oklahoma | 50% |  | 98.3 |  |  | — |  |  | (1.8 | ) |  | — |  |  | — |
Other | Various |  | 8.9 |  |  | 8.4 |  |  | (0.6 | ) |  | (0.5 | ) |  | 0.4 |
|  |  |  | $381.4 |  |  |  | $326.0 |  |  |  | ($44.8 | ) |  |  | ($39.6 | ) |  |  | ($33.8 | )
WPL |  |  |  |  |  |  |  |  |  |  |
ATC | —% |  |  | $— |  |  |  | $— |  |  |  | $— |  |  |  | ($39.1 | ) |  |  | ($34.2 | )
Wisconsin River Power Company | 50% |  | 8.3 |  |  | 7.7 |  |  | (0.7 | ) |  | (0.7 | ) |  | (0.9 | )
|  |  |  | $8.3 |  |  |  | $7.7 |  |  |  | ($0.7 | ) |  |  | ($39.8 | ) |  |  | ($35.1 | )
(a) | As of December 31, 2017, Alliant Energy’s ATC Investment is comprised of a 16% ownership interest in ATC and a 20% ownership interest in ATC Holdco LLC, which are described below. In 2017, Alliant Energy’s investment in ATC decreased due to the impacts of Tax Reform. Refer to Note 11 for further discussion. Alliant Energy currently has the ability to exercise significant influence over ATC’s financial and operating policies through its participation on ATC’s Board of Directors. Refer to Note 18 for information regarding related party transactions with ATC.
Summary aggregate financial information from the financial statements of these investments is as follows (in millions):
| Alliant Energy |  | WPL
| 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015
Operating revenues |  | $741 |  |  |  | $658 |  |  |  | $624 |  |  |  | $8 |  |  |  | $658 |  |  |  | $624 |
Operating income | 374 |  |  | 331 |  |  | 299 |  |  | 4 |  |  | 331 |  |  | 299 |
Net income | 267 |  |  | 232 |  |  | 186 |  |  | 2 |  |  | 234 |  |  | 202 |
As of December 31: |  |  |  |  |  |  |  |  |  |  |
Current assets | 104 |  |  | 82 |  |  |  |  | 7 |  |  | 6 |  |  |
Non-current assets | 5,041 |  |  | 4,340 |  |  |  |  | 20 |  |  | 19 |  |  |
Current liabilities | 770 |  |  | 498 |  |  |  |  | 2 |  |  | 3 |  |  |
Non-current liabilities | 2,038 |  |  | 2,144 |  |  |  |  | 8 |  |  | 7 |  |  |
Minority interest | 255 |  |  | — |  |  |  |  | — |  |  | — |  |  |
Investment in ATC and WPL’s Noncontrolling Interest - Prior to 2014, WPL owned 100% of WPL Transco, which held Alliant Energy’s investment in ATC. In 2014, WPL Transco’s operating agreement was amended to allow ATI, a wholly-owned subsidiary of AEF, to become a member of WPL Transco in addition to WPL. In 2014, ATI began funding capital contributions that WPL Transco made to ATC. WPL Transco’s equity income from ATC and ATC dividends received by WPL Transco were allocated between WPL and ATI based on their respective ownership interests at the time the equity income was generated and at the time of the dividend payments. Prior to the transfer of the investment in ATC to ATI discussed below, WPL consolidated WPL Transco, and ATI’s ownership in WPL Transco was recorded as a noncontrolling interest in total equity on WPL’s balance sheets. On December 31, 2016, pursuant to a June 2016 PSCW order, WPL Transco was liquidated and WPL transferred its investment in ATC to ATI. As a result, WPL no longer records equity income from its prior investment in ATC. In conjunction with the transfer of the investment in ATC, a deferred intercompany tax gain recognized by WPL was assumed by ATI. The impact of WPL’s transfer of the ATC investment, including the assumption of such intercompany tax gain by ATI, was recorded as a net reduction in total equity of $163.6 million on WPL’s balance sheet. WPL’s income statement includes all of the equity earnings from ATC through December 31, 2016, the date of transfer. There were no impacts of this transfer to Alliant Energy’s consolidated financial statements. As of December 31, 2016, ATI owns Alliant Energy’s entire ATC Investment. Investment in ATC Holdco LLC - In 2011, Duke Energy Corporation and ATC announced the creation of DATC, a joint venture that is expected to acquire, build, own and operate new electric transmission infrastructure in North America. DATC continues to evaluate new projects and opportunities, and participates in a competitive bidding process on projects it considers to be viable. In October 2017, ATC transferred a portion of its interest in DATC to ATC Holdco LLC, and as a result, Alliant Energy contributed additional equity capital funding based on its ownership interest in ATC Holdco LLC. A portion of proceeds from the transfer was distributed to all ATC Holdco LLC’s owners based on their ATC ownership percentage. Non-utility Wind Investment in Oklahoma - In July 2017, a wholly-owned subsidiary of AEF acquired 50% of a cash equity ownership interest in a 225 MW non-utility wind farm located in Oklahoma, which started commercial operations in December 2016. This wind farm has both cash and tax equity ownership. The wind farm provides electricity to a third-party under a long-term PPA. In 2017, Alliant Energy’s “Other investments” assets increased $98 million from this acquisition. Alliant Energy will not maintain or operate the wind farm, and provided a parent guarantee of its subsidiary’s indemnification obligations under the operating agreement and PPA. Refer to Note 16(d) for discussion of the guarantee. Alliant Energy accounts for this non-utility investment under the equity method of accounting. In conjunction with the acquisition, in July 2017, AEF entered into a $95 million, 364-day variable-rate term loan credit agreement (with Alliant Energy as guarantor). (b) Cash Surrender Value of Life Insurance Policies - Various life insurance policies cover certain current and former employees and directors. In 2016, certain of Alliant Energy’s and IPL’s company-owned life insurance policies were liquidated. The related proceeds of $31 million and $19 million were recorded in investing activities in Alliant Energy’s and IPL’s cash flows statements, respectively, in 2016. At December 31, the cash surrender value of these investments was as follows (in millions):
| Alliant Energy |  | WPL
| 2017 |  | 2016 |  | 2017 |  | 2016
Cash surrender value | $10.4 |  | $10.6 |  | $5.6 |  | $5.8
IPL [Member] |
Schedule of Equity Method Investments [Line Items] |
Investments | INVESTMENTS (b) Cash Surrender Value of Life Insurance Policies - Various life insurance policies cover certain current and former employees and directors. In 2016, certain of Alliant Energy’s and IPL’s company-owned life insurance policies were liquidated. The related proceeds of $31 million and $19 million were recorded in investing activities in Alliant Energy’s and IPL’s cash flows statements, respectively, in 2016. At December 31, the cash surrender value of these investments was as follows (in millions):
| Alliant Energy |  | WPL
| 2017 |  | 2016 |  | 2017 |  | 2016
Cash surrender value | $10.4 |  | $10.6 |  | $5.6 |  | $5.8
WPL [Member] |
Schedule of Equity Method Investments [Line Items] |
Investments | INVESTMENTS (a) Unconsolidated Equity Investments - Unconsolidated investments accounted for under the equity method of accounting are as follows (in millions):
| Ownership Interest at |  | Carrying Value at December 31, |  | Equity (Income) / Loss
| December 31, 2017 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2015
Alliant Energy |  |  |  |  |  |  |  |  |  |  |
ATC Investment (a) | 16%-20% |  |  | $274.2 |  |  |  | $317.6 |  |  |  | ($42.4 | ) |  |  | ($39.1 | ) |  |  | ($34.2 | )
Wind Investment in Oklahoma | 50% |  | 98.3 |  |  | — |  |  | (1.8 | ) |  | — |  |  | — |
Other | Various |  | 8.9 |  |  | 8.4 |  |  | (0.6 | ) |  | (0.5 | ) |  | 0.4 |
|  |  |  | $381.4 |  |  |  | $326.0 |  |  |  | ($44.8 | ) |  |  | ($39.6 | ) |  |  | ($33.8 | )
WPL |  |  |  |  |  |  |  |  |  |  |
ATC | —% |  |  | $— |  |  |  | $— |  |  |  | $— |  |  |  | ($39.1 | ) |  |  | ($34.2 | )
Wisconsin River Power Company | 50% |  | 8.3 |  |  | 7.7 |  |  | (0.7 | ) |  | (0.7 | ) |  | (0.9 | )
|  |  |  | $8.3 |  |  |  | $7.7 |  |  |  | ($0.7 | ) |  |  | ($39.8 | ) |  |  | ($35.1 | )
(a) | As of December 31, 2017, Alliant Energy’s ATC Investment is comprised of a 16% ownership interest in ATC and a 20% ownership interest in ATC Holdco LLC, which are described below. In 2017, Alliant Energy’s investment in ATC decreased due to the impacts of Tax Reform. Refer to Note 11 for further discussion. Alliant Energy currently has the ability to exercise significant influence over ATC’s financial and operating policies through its participation on ATC’s Board of Directors. Refer to Note 18 for information regarding related party transactions with ATC.
Summary aggregate financial information from the financial statements of these investments is as follows (in millions):
| Alliant Energy |  | WPL
| 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015
Operating revenues |  | $741 |  |  |  | $658 |  |  |  | $624 |  |  |  | $8 |  |  |  | $658 |  |  |  | $624 |
Operating income | 374 |  |  | 331 |  |  | 299 |  |  | 4 |  |  | 331 |  |  | 299 |
Net income | 267 |  |  | 232 |  |  | 186 |  |  | 2 |  |  | 234 |  |  | 202 |
As of December 31: |  |  |  |  |  |  |  |  |  |  |
Current assets | 104 |  |  | 82 |  |  |  |  | 7 |  |  | 6 |  |  |
Non-current assets | 5,041 |  |  | 4,340 |  |  |  |  | 20 |  |  | 19 |  |  |
Current liabilities | 770 |  |  | 498 |  |  |  |  | 2 |  |  | 3 |  |  |
Non-current liabilities | 2,038 |  |  | 2,144 |  |  |  |  | 8 |  |  | 7 |  |  |
Minority interest | 255 |  |  | — |  |  |  |  | — |  |  | — |  |  |
Investment in ATC and WPL’s Noncontrolling Interest - Prior to 2014, WPL owned 100% of WPL Transco, which held Alliant Energy’s investment in ATC. In 2014, WPL Transco’s operating agreement was amended to allow ATI, a wholly-owned subsidiary of AEF, to become a member of WPL Transco in addition to WPL. In 2014, ATI began funding capital contributions that WPL Transco made to ATC. WPL Transco’s equity income from ATC and ATC dividends received by WPL Transco were allocated between WPL and ATI based on their respective ownership interests at the time the equity income was generated and at the time of the dividend payments. Prior to the transfer of the investment in ATC to ATI discussed below, WPL consolidated WPL Transco, and ATI’s ownership in WPL Transco was recorded as a noncontrolling interest in total equity on WPL’s balance sheets. On December 31, 2016, pursuant to a June 2016 PSCW order, WPL Transco was liquidated and WPL transferred its investment in ATC to ATI. As a result, WPL no longer records equity income from its prior investment in ATC. In conjunction with the transfer of the investment in ATC, a deferred intercompany tax gain recognized by WPL was assumed by ATI. The impact of WPL’s transfer of the ATC investment, including the assumption of such intercompany tax gain by ATI, was recorded as a net reduction in total equity of $163.6 million on WPL’s balance sheet. WPL’s income statement includes all of the equity earnings from ATC through December 31, 2016, the date of transfer. There were no impacts of this transfer to Alliant Energy’s consolidated financial statements. As of December 31, 2016, ATI owns Alliant Energy’s entire ATC Investment. Investment in ATC Holdco LLC - In 2011, Duke Energy Corporation and ATC announced the creation of DATC, a joint venture that is expected to acquire, build, own and operate new electric transmission infrastructure in North America. DATC continues to evaluate new projects and opportunities, and participates in a competitive bidding process on projects it considers to be viable. In October 2017, ATC transferred a portion of its interest in DATC to ATC Holdco LLC, and as a result, Alliant Energy contributed additional equity capital funding based on its ownership interest in ATC Holdco LLC. A portion of proceeds from the transfer was distributed to all ATC Holdco LLC’s owners based on their ATC ownership percentage. (b) Cash Surrender Value of Life Insurance Policies - Various life insurance policies cover certain current and former employees and directors. In 2016, certain of Alliant Energy’s and IPL’s company-owned life insurance policies were liquidated. The related proceeds of $31 million and $19 million were recorded in investing activities in Alliant Energy’s and IPL’s cash flows statements, respectively, in 2016. At December 31, the cash surrender value of these investments was as follows (in millions):
| Alliant Energy |  | WPL
| 2017 |  | 2016 |  | 2017 |  | 2016
Cash surrender value | $10.4 |  | $10.6 |  | $5.6 |  | $5.8

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