Rendering

Component: (Network and Table)
Network
2312301 - Disclosure - Benefit Plans (Tables)
(http://www.alliantenergy.com/role/BenefitPlansTables)
TableSchedule of Defined Benefit Plans Disclosures [Table]
Slicers (applies to each fact value in each table cell)
Defined Benefit Plan Disclosure [Line Items]Period [Axis]
2016-01-01 - 2016-12-31
Legal Entity [Axis]
Entity [Domain]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]
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
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate for benefit obligations
4.19%
 
4.47%
 
4.18%
 
3.98%
 
4.30%
 
3.97%
Discount rate for net periodic cost
4.47%
 
4.18%
 
4.97%
 
4.30%
 
3.97%
 
4.59%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.60%
 
6.30%
 
6.20%
 
7.40%
Rate of compensation increase
3.65
%
-
4.50%
 
3.65
%
-
4.50%
 
3.50
%
-
4.50%
 
N/A
 
N/A
 
N/A
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
7.00%
 
7.25%
 
6.75%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
IPL
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate for benefit obligations
4.22%
 
4.50%
 
4.20%
 
3.95%
 
4.28%
 
3.94%
Discount rate for net periodic cost
4.50%
 
4.20%
 
5.05%
 
4.28%
 
3.94%
 
4.55%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.60%
 
6.60%
 
6.60%
 
7.60%
Rate of compensation increase
3.65%
 
3.65%
 
3.50%
 
N/A
 
N/A
 
N/A
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
7.00%
 
7.25%
 
6.75%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
WPL
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate for benefit obligations
4.23%
 
4.51%
 
4.20%
 
3.96%
 
4.28%
 
3.96%
Discount rate for net periodic cost
4.51%
 
4.20%
 
5.05%
 
4.28%
 
3.96%
 
4.56%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.60%
 
4.70%
 
4.60%
 
7.30%
Rate of compensation increase
3.65%
 
3.65%
 
3.50%
 
N/A
 
N/A
 
N/A
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
7.00%
 
7.25%
 
6.75%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
 
Net Periodic Benefit Costs (Credits)
The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans are included in the tables below (in millions). Net periodic benefit costs are primarily included in “Other operation and maintenance” in the income statements.
Alliant Energy
Defined Benefit Pension Plans
 
OPEB Plans
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost

$12.6

 

$15.9

 

$13.1

 

$5.3

 

$5.5

 

$5.2

Interest cost
53.0

 
53.6

 
54.1

 
9.4

 
9.1

 
9.5

Expected return on plan assets (a)
(65.5
)
 
(75.0
)
 
(74.9
)
 
(6.1
)
 
(8.4
)
 
(8.3
)
Amortization of prior service cost (credit) (b)
(0.3
)
 
(0.2
)
 

 
(4.1
)
 
(11.3
)
 
(11.9
)
Amortization of actuarial loss (c)
37.4

 
35.4

 
19.5

 
4.7

 
4.8

 
2.4

Additional benefit costs

 
0.5

 

 

 

 

 

$37.2

 

$30.2

 

$11.8

 

$9.2

 

($0.3
)
 

($3.1
)
IPL
Defined Benefit Pension Plans
 
OPEB Plans
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost

$7.5

 

$8.8

 

$7.2

 

$2.3

 

$2.4

 

$2.4

Interest cost
24.5

 
25.0

 
25.1

 
3.8

 
3.8

 
3.9

Expected return on plan assets (a)
(30.9
)
 
(35.8
)
 
(35.7
)
 
(4.3
)
 
(5.7
)
 
(5.8
)
Amortization of prior service cost (credit) (b)
(0.2
)
 
(0.1
)
 

 
(2.6
)
 
(6.1
)
 
(6.3
)
Amortization of actuarial loss (c)
16.5

 
15.3

 
8.0

 
2.6

 
2.3

 
1.1

 

$17.4

 

$13.2

 

$4.6

 

$1.8

 

($3.3
)
 

($4.7
)
WPL
Defined Benefit Pension Plans
 
OPEB Plans
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost

$4.9

 

$5.8

 

$4.9

 

$2.0

 

$2.1

 

$2.0

Interest cost
22.3

 
22.6

 
22.6

 
3.8

 
3.7

 
3.8

Expected return on plan assets (a)
(28.3
)
 
(32.4
)
 
(32.4
)
 
(0.8
)
 
(1.5
)
 
(1.3
)
Amortization of prior service cost (credit) (b)
0.2

 
0.2

 
0.3

 
(0.9
)
 
(3.5
)
 
(3.9
)
Amortization of actuarial loss (c)
17.6

 
16.8

 
9.2

 
1.8

 
2.2

 
1.3

Additional benefit costs

 
0.5

 

 

 

 

 

$16.7

 

$13.5

 

$4.6

 

$5.9

 

$3.0

 

$1.9


(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 Alliant Energy Cash Balance Pension Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits.

 
 
Estimated Amortization From Regulatory Assets, Regulatory Liabilities And Accumulated Other Comprehensive Loss 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 2017 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

$37.5

 

$3.8

 

$16.1

 

$2.0

 

$18.5

 

$1.6

Prior service cost (credit)
(0.4
)
 
(0.2
)
 
(0.2
)
 

 
0.1

 
(0.2
)
 

$37.1

 

$3.6

 

$15.9

 

$2.0

 

$18.6

 

$1.4

 
 
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
2016
 
2015
 
2016
 
2015
Change in benefit obligation:
 
 
 
 
 
 
 
Net benefit obligation at January 1

$1,206.3

 

$1,301.5

 

$221.4

 

$231.1

Service cost
12.6

 
15.9

 
5.3

 
5.5

Interest cost
53.0

 
53.6

 
9.4

 
9.1

Plan participants’ contributions

 

 
2.4

 
3.1

Plan amendments

 

 

 
(0.3
)
Additional benefit costs

 
0.5

 

 

Actuarial (gain) loss
48.3

 
(70.1
)
 
(0.3
)
 
(9.4
)
Gross benefits paid
(75.9
)
 
(95.1
)
 
(18.1
)
 
(17.7
)
Net benefit obligation at December 31
1,244.3

 
1,206.3

 
220.1

 
221.4

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at January 1
895.0

 
1,018.1

 
106.9

 
121.6

Actual return on plan assets
74.3

 
(30.2
)
 
8.2

 
(4.9
)
Employer contributions
2.3

 
2.2

 
6.4

 
4.8

Plan participants’ contributions

 

 
2.4

 
3.1

Gross benefits paid
(75.9
)
 
(95.1
)
 
(18.1
)
 
(17.7
)
Fair value of plan assets at December 31
895.7

 
895.0

 
105.8

 
106.9

Under funded status at December 31

($348.6
)
 

($311.3
)
 

($114.3
)
 

($114.5
)

 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
Alliant Energy
2016
 
2015
 
2016
 
2015
Amounts recognized on the balance sheets consist of:
 
 
 
 
 
 
 
Non-current assets

$—

 

$—

 

$3.2

 

$3.0

Other current liabilities
(6.5
)
 
(2.6
)
 
(8.6
)
 
(6.2
)
Pension and other benefit obligations
(342.1
)
 
(308.7
)
 
(108.9
)
 
(111.3
)
Net amounts recognized at December 31

($348.6
)
 

($311.3
)
 

($114.3
)
 

($114.5
)
 
 
 
 
 
 
 
Net actuarial loss

$535.1

 

$533.1

 

$52.6

 

$59.8

Prior service credit
(6.9
)
 
(7.2
)
 
(1.5
)
 
(5.6
)
 

$528.2

 

$525.9

 

$51.1

 

$54.2



 
 
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
2016
 
2015
 
2016
 
2015
Accumulated benefit obligations

$1,201.5

 

$1,166.0

 

$220.1

 

$221.4

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
1,201.5

 
1,166.0

 
220.1

 
221.4

Fair value of plan assets
895.7

 
895.0

 
105.8

 
106.9

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
1,244.3

 
1,206.3

 
N/A

 
N/A

Fair value of plan assets
895.7

 
895.0

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
IPL
2016
 
2015
 
2016
 
2015
Accumulated benefit obligations

$546.7

 

$531.0

 

$90.1

 

$91.3

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
546.7

 
531.0

 
90.1

 
91.3

Fair value of plan assets
422.0

 
422.7

 
68.2

 
69.2

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
570.4

 
556.1

 
N/A

 
N/A

Fair value of plan assets
422.0

 
422.7

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
WPL
2016
 
2015
 
2016
 
2015
Accumulated benefit obligations

$513.2

 

$493.8

 

$88.9

 

$89.7

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
513.2

 
493.8

 
88.9

 
89.7

Fair value of plan assets
389.7

 
386.8

 
18.6

 
18.7

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
529.2

 
505.9

 
N/A

 
N/A

Fair value of plan assets
389.7

 
386.8

 
N/A

 
N/A

 
 
Regulatory Assets
In addition to the amounts recognized in regulatory assets in the above tables for IPL and WPL, regulatory assets 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
 
2016
 
2015
 
2016
 
2015
Regulatory assets

$37.3

 

$38.0

 

$30.0

 

$29.5

 
 
Estimated Future Employer Contributions
Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2017 is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
Defined benefit pension plans (a)

$6.5

 

$0.7

 

$0.1

OPEB plans
8.7

 
2.0

 
6.4


(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
2017
 
2018
 
2019
 
2020
 
2021
 
2022 - 2026
Defined benefit pension benefits

$74.8

 

$73.2

 

$75.5

 

$77.6

 

$79.9

 

$405.9

OPEB
18.6

 
18.5

 
18.2

 
17.8

 
17.6

 
82.6

 

$93.4

 

$91.7

 

$93.7

 

$95.4

 

$97.5

 

$488.5

IPL
2017
 
2018
 
2019
 
2020
 
2021
 
2022 - 2026
Defined benefit pension benefits

$34.0

 

$35.1

 

$35.0

 

$37.2

 

$37.9

 

$192.1

OPEB
7.7

 
7.6

 
7.4

 
7.4

 
7.2

 
34.0

 

$41.7

 

$42.7

 

$42.4

 

$44.6

 

$45.1

 

$226.1

WPL
2017
 
2018
 
2019
 
2020
 
2021
 
2022 - 2026
Defined benefit pension benefits

$30.2

 

$30.9

 

$31.8

 

$32.5

 

$32.4

 

$167.1

OPEB
8.0

 
8.0

 
7.8

 
7.4

 
7.3

 
32.7

 

$38.2

 

$38.9

 

$39.6

 

$39.9

 

$39.7

 

$199.8

 
 
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
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Compensation expense

$18.0

 

$10.7

 

$15.3

 

$9.5

 

$5.7

 

$8.3

 

$7.9

 

$4.7

 

$6.4

Income tax benefits
7.4

 
4.4

 
6.2

 
4.0

 
2.4

 
3.4

 
3.2

 
1.9

 
2.6

 
 
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):
 
2016
 
2015
Carrying value

$10.0

 

$8.5

Fair market value
16.7

 
13.4

 
 
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
 
2016
 
2015
 
2016
 
2015
Carrying value
$19.4
 
$18.3
 
$4.6
 
$5.0
 
 
Legal Entity [Axis]
Entity [Domain]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Pension Plans, Defined Benefit [Member]
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, 2016, 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%
 
3%
Equity securities - domestic
22
%
-
42%
 
30%
Equity securities - international
8
%
-
28%
 
17%
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 plan assets were as follows (in millions):
 
2016
 
2015
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$30.4

 

$5.0

 

$25.4

 

$—

 

$23.1

 

$—

 

$23.1

 

$—

Equity securities - domestic
183.6

 
183.6

 

 

 
116.4

 
116.4

 

 

Equity securities - international
97.4

 
97.4

 

 

 
93.9

 
93.9

 

 

Global asset allocation securities
53.0

 
53.0

 

 

 
52.9

 
52.9

 

 

Fixed income securities
125.4

 
53.6

 
71.8

 

 

 

 

 

Total assets in fair value hierarchy
489.8

 

$392.6

 

$97.2

 

$—

 
286.3

 

$263.2

 

$23.1

 

$—

Assets measured at net asset value
405.9

 
 
 
 
 
 
 
608.5

 
 
 
 
 
 
Accrued investment income
1.1

 
 
 
 
 
 
 
0.2

 
 
 
 
 
 
Due to brokers, net (pending trades with brokers)
(1.1
)
 
 
 
 
 
 
 

 
 
 
 
 
 
Total pension plan assets

$895.7

 
 
 
 
 
 
 

$895.0

 
 
 
 
 
 

 
 
Legal Entity [Axis]
Entity [Domain]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Other Postretirement Benefits Plans [Member]
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, the fair values of Alliant Energy’s OPEB plan assets were as follows (in millions):
 
2016
 
2015
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$3.5

 

$2.0

 

$1.5

 

$—

 

$3.6

 

$—

 

$3.6

 

$—

Equity securities - domestic
22.5

 
22.5

 

 

 
22.1

 
22.1

 

 

Equity securities - international
13.5

 
13.5

 

 

 
13.4

 
13.4

 

 

Global asset allocation securities
16.5

 
16.5

 

 

 
16.0

 
16.0

 

 

Fixed income securities
46.8

 
46.2

 
0.6

 

 
46.3

 
46.3

 

 

Total assets in fair value hierarchy
102.8

 

$100.7

 

$2.1

 

$—

 
101.4

 

$97.8

 

$3.6

 

$—

Assets measured at net asset value
3.0

 
 
 
 
 
 
 
5.5

 
 
 
 
 
 
Total OPEB plan assets

$105.8

 
 
 
 
 
 
 

$106.9

 
 
 
 
 
 
At December 31, 2016, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million and the WPL 401(h) assets were as follows:
 
Target Range
 
Actual
 
Allocation
 
Allocation
Cash and equivalents
0
%
-
15%
 
3%
Equity securities - domestic
0
%
-
45%
 
22%
Equity securities - international
0
%
-
21%
 
13%
Global asset allocation securities
5
%
-
40%
 
16%
Fixed income securities
10
%
-
70%
 
46%
 
 
Legal Entity [Axis]
Entity [Domain]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
401(k) Savings Plan [Member]
Employees Participate In Defined Contribution Retirement Plans
Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions and include allocated costs associated with Corporate Services employees for IPL and WPL, were as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2016
 
2015
 
2014
 
2016

 
2015

 
2014

 
2016
 
2015
 
2014
401(k) costs

$23.6

 

$24.9

 

$22.5

 

$12.0

 

$12.7

 

$11.1

 

$10.7

 

$11.2

 

$10.5

 
 
Legal Entity [Axis]
Entity [Domain]
Award Type [Axis]
Performance Shares and Performance Units [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]
Schedule Of Equity-based Compensation Plans Activity
A summary of the performance shares and performance units activity, with amounts representing the target number of awards, was as follows:
 
Performance Shares
 
Performance Units
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Nonvested awards, January 1
288,430

 
288,848

 
279,880

 
116,412

 
127,330

 
131,824

Granted
68,585

 
90,806

 
102,442

 
23,918

 
35,674

 
40,844

Vested
(98,186
)
 
(91,224
)
 
(90,470
)
 
(42,760
)
 
(45,690
)
 
(41,502
)
Forfeited
(1,230
)
 

 
(3,004
)
 
(4,250
)
 
(902
)
 
(3,836
)
Nonvested awards, December 31
257,599

 
288,430

 
288,848

 
93,320

 
116,412

 
127,330


Granted Awards - 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. For performance units granted in 2016, the value is based on the closing market price of one share of Alliant Energy’s common stock at the end of the performance period. For performance units granted in 2015 and 2014, each performance unit’s value is based on the closing market price of one share of Alliant Energy’s common stock on the grant date of the award. The actual payout for performance shares and performance units is dependent upon actual performance and may range from zero to 200% of the target number of awards. Compensation expense for performance shares and performance units is recorded ratably over the performance period based on the fair value of the awards at each reporting period.

Vested Awards - Certain performance shares and performance units vested, resulting in payouts (a combination of cash and common stock for the performance shares and cash only for the performance units) as follows:
 
Performance Shares
 
Performance Units
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
2013 Grant
 
2012 Grant
 
2011 Grant
 
2013 Grant
 
2012 Grant
 
2011 Grant
Performance awards vested
98,186
 
91,224
 
90,470
 
42,760
 
45,690
 
41,502
Percentage of target number of performance awards
165.0%
 
167.5%
 
147.5%
 
165.0%
 
167.5%
 
147.5%
Aggregate payout value (in millions)
$5.1
 
$5.1
 
$3.4
 
$1.7
 
$1.6
 
$1.2
Payout - cash (in millions)
$2.9
 
$3.2
 
$2.9
 
$1.7
 
$1.6
 
$1.2
Payout - common stock shares issued
22,408
 
21,950
 
9,620
 
N/A
 
N/A
 
N/A


Fair Value of Awards - Information related to fair values of nonvested performance shares and performance units at December 31, 2016, by year of grant, were as follows:
 
Performance Shares
 
Performance Units
 
2016 Grant
 
2015 Grant
 
2014 Grant
 
2016 Grant
 
2015 Grant
 
2014 Grant
Nonvested awards at target
67,355

 
90,806

 
99,438

 
22,657

 
33,268

 
37,395

Alliant Energy common stock closing price on December 30, 2016

$37.89

 

$37.89

 

$37.89

 

$37.89

 
N/A
 
N/A
Alliant Energy common stock closing price on grant date
N/A
 
N/A
 
N/A
 
N/A
 

$32.55

 

$26.89

Estimated payout percentage based on performance criteria
135
%
 
155
%
 
148
%
 
135
%
 
155
%
 
148
%
Fair values of each nonvested award

$51.15

 

$58.73

 

$56.08

 

$51.15

 

$50.45

 

$39.80

 
 
Legal Entity [Axis]
Entity [Domain]
Award Type [Axis]
Performance-Contingent Restricted Stock [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]
Schedule Of Equity-based Compensation Plans Activity
A summary of the performance-contingent restricted stock activity was as follows:
 
2016
 
2015
 
2014
 
 
 
Weighted Average
 
 
 
Weighted Average
 
 
 
Weighted Average
 
Shares
 
Grant Date Fair Value
 
Shares
 
Grant Date Fair Value
 
Shares
 
Grant Date Fair Value
Nonvested shares, January 1
190,244

 

$29.59

 
197,624

 

$25.35

 
317,844

 

$21.36

Granted

 

 
90,806

 
32.55

 
102,442

 
26.89

Vested (a)

 

 
(98,186
)
 
23.79

 
(181,694
)
 
20.46

Forfeited (b)

 

 

 

 
(40,968
)
 
19.93

Nonvested shares, December 31
190,244

 
29.59

 
190,244

 
29.59

 
197,624

 
25.35



(a)
In 2015, 98,186 performance-contingent restricted shares granted in 2013 vested because the specified performance criteria for such shares were met. In 2014, 91,224 and 90,470 performance-contingent restricted shares granted in 2012 and 2011, respectively, vested because the specified performance criteria for such shares were met.
(b)
The forfeitures during 2014 were primarily caused by retirements and terminations of participants.
 
 
Legal Entity [Axis]
Entity [Domain]
Award Type [Axis]
Performance Restricted Stock Unit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]
Schedule Of Equity-based Compensation Plans Activity
A summary of the performance restricted stock units activity, with amounts representing the target number of units, was as follows:
 
2016
 
Units
 
Weighted Average
Grant Date Fair Value
Granted
68,585

 

$33.96

Forfeited
(1,230
)
 
33.90

Nonvested units, December 31
67,355

 
33.96

 
 
Legal Entity [Axis]
Entity [Domain]
Award Type [Axis]
Restricted Stock Units [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]
Schedule Of Equity-based Compensation Plans Activity
A summary of the restricted stock units activity was as follows:
 
2016
Granted
58,790

Forfeited
(1,054
)
Nonvested units, December 31
57,736

 
 
Legal Entity [Axis]
Entity [Domain]
Award Type [Axis]
Performance Contingent Cash Awards [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]
Schedule Of Equity-based Compensation Plans Activity
A summary of the performance-contingent cash awards activity was as follows:
 
2016
 
2015
 
2014
Nonvested awards, January 1
163,752

 
157,860

 
193,954

Granted

 
82,210

 
84,892

Vested (a)

 
(74,664
)
 
(111,034
)
Forfeited
(3,652
)
 
(1,654
)
 
(9,952
)
Nonvested awards, December 31
160,100

 
163,752

 
157,860


(a)
In 2015, 74,664 performance-contingent cash awards granted in 2013 vested, resulting in cash payouts valued at $2.4 million. In 2014, 69,532 and 41,502 performance-contingent cash awards granted in 2012 and 2011 vested, resulting in cash payouts valued at $1.9 million and $1.1 million, respectively.
 
 
Legal Entity [Axis]
IPL [Member]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]
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
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate for benefit obligations
4.19%
 
4.47%
 
4.18%
 
3.98%
 
4.30%
 
3.97%
Discount rate for net periodic cost
4.47%
 
4.18%
 
4.97%
 
4.30%
 
3.97%
 
4.59%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.60%
 
6.30%
 
6.20%
 
7.40%
Rate of compensation increase
3.65
%
-
4.50%
 
3.65
%
-
4.50%
 
3.50
%
-
4.50%
 
N/A
 
N/A
 
N/A
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
7.00%
 
7.25%
 
6.75%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
IPL
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate for benefit obligations
4.22%
 
4.50%
 
4.20%
 
3.95%
 
4.28%
 
3.94%
Discount rate for net periodic cost
4.50%
 
4.20%
 
5.05%
 
4.28%
 
3.94%
 
4.55%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.60%
 
6.60%
 
6.60%
 
7.60%
Rate of compensation increase
3.65%
 
3.65%
 
3.50%
 
N/A
 
N/A
 
N/A
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
7.00%
 
7.25%
 
6.75%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
WPL
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate for benefit obligations
4.23%
 
4.51%
 
4.20%
 
3.96%
 
4.28%
 
3.96%
Discount rate for net periodic cost
4.51%
 
4.20%
 
5.05%
 
4.28%
 
3.96%
 
4.56%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.60%
 
4.70%
 
4.60%
 
7.30%
Rate of compensation increase
3.65%
 
3.65%
 
3.50%
 
N/A
 
N/A
 
N/A
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
7.00%
 
7.25%
 
6.75%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
 
Net Periodic Benefit Costs (Credits)
The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans are included in the tables below (in millions). Net periodic benefit costs are primarily included in “Other operation and maintenance” in the income statements.
Alliant Energy
Defined Benefit Pension Plans
 
OPEB Plans
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost

$12.6

 

$15.9

 

$13.1

 

$5.3

 

$5.5

 

$5.2

Interest cost
53.0

 
53.6

 
54.1

 
9.4

 
9.1

 
9.5

Expected return on plan assets (a)
(65.5
)
 
(75.0
)
 
(74.9
)
 
(6.1
)
 
(8.4
)
 
(8.3
)
Amortization of prior service cost (credit) (b)
(0.3
)
 
(0.2
)
 

 
(4.1
)
 
(11.3
)
 
(11.9
)
Amortization of actuarial loss (c)
37.4

 
35.4

 
19.5

 
4.7

 
4.8

 
2.4

Additional benefit costs

 
0.5

 

 

 

 

 

$37.2

 

$30.2

 

$11.8

 

$9.2

 

($0.3
)
 

($3.1
)
IPL
Defined Benefit Pension Plans
 
OPEB Plans
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost

$7.5

 

$8.8

 

$7.2

 

$2.3

 

$2.4

 

$2.4

Interest cost
24.5

 
25.0

 
25.1

 
3.8

 
3.8

 
3.9

Expected return on plan assets (a)
(30.9
)
 
(35.8
)
 
(35.7
)
 
(4.3
)
 
(5.7
)
 
(5.8
)
Amortization of prior service cost (credit) (b)
(0.2
)
 
(0.1
)
 

 
(2.6
)
 
(6.1
)
 
(6.3
)
Amortization of actuarial loss (c)
16.5

 
15.3

 
8.0

 
2.6

 
2.3

 
1.1

 

$17.4

 

$13.2

 

$4.6

 

$1.8

 

($3.3
)
 

($4.7
)
WPL
Defined Benefit Pension Plans
 
OPEB Plans
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost

$4.9

 

$5.8

 

$4.9

 

$2.0

 

$2.1

 

$2.0

Interest cost
22.3

 
22.6

 
22.6

 
3.8

 
3.7

 
3.8

Expected return on plan assets (a)
(28.3
)
 
(32.4
)
 
(32.4
)
 
(0.8
)
 
(1.5
)
 
(1.3
)
Amortization of prior service cost (credit) (b)
0.2

 
0.2

 
0.3

 
(0.9
)
 
(3.5
)
 
(3.9
)
Amortization of actuarial loss (c)
17.6

 
16.8

 
9.2

 
1.8

 
2.2

 
1.3

Additional benefit costs

 
0.5

 

 

 

 

 

$16.7

 

$13.5

 

$4.6

 

$5.9

 

$3.0

 

$1.9


(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 Alliant Energy Cash Balance Pension Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits.

 
 
Estimated Amortization From Regulatory Assets, Regulatory Liabilities And Accumulated Other Comprehensive Loss 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 2017 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

$37.5

 

$3.8

 

$16.1

 

$2.0

 

$18.5

 

$1.6

Prior service cost (credit)
(0.4
)
 
(0.2
)
 
(0.2
)
 

 
0.1

 
(0.2
)
 

$37.1

 

$3.6

 

$15.9

 

$2.0

 

$18.6

 

$1.4

 
 
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
2016
 
2015
 
2016
 
2015
Change in benefit obligation:
 
 
 
 
 
 
 
Net benefit obligation at January 1

$556.1

 

$603.1

 

$91.3

 

$96.4

Service cost
7.5

 
8.8

 
2.3

 
2.4

Interest cost
24.5

 
25.0

 
3.8

 
3.8

Plan participants’ contributions

 

 
0.9

 
1.0

Plan amendments

 

 

 
(0.1
)
Actuarial (gain) loss
19.1

 
(32.3
)
 
(0.7
)
 
(4.6
)
Gross benefits paid
(36.8
)
 
(48.5
)
 
(7.5
)
 
(7.6
)
Net benefit obligation at December 31
570.4

 
556.1

 
90.1

 
91.3

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at January 1
422.7

 
484.7

 
69.2

 
78.7

Actual return on plan assets
35.3

 
(14.3
)
 
5.3

 
(3.1
)
Employer contributions
0.8

 
0.8

 
0.3

 
0.2

Plan participants’ contributions

 

 
0.9

 
1.0

Gross benefits paid
(36.8
)
 
(48.5
)
 
(7.5
)
 
(7.6
)
Fair value of plan assets at December 31
422.0

 
422.7

 
68.2

 
69.2

Under funded status at December 31

($148.4
)
 

($133.4
)
 

($21.9
)
 

($22.1
)

 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
IPL
2016
 
2015
 
2016
 
2015
Amounts recognized on the balance sheets consist of:
 
 
 
 
 
 
 
Non-current assets

$—

 

$—

 

$0.4

 

$—

Other current liabilities
(0.7
)
 
(0.8
)
 
(1.9
)
 

Pension and other benefit obligations
(147.7
)
 
(132.6
)
 
(20.4
)
 
(22.1
)
Net amounts recognized at December 31

($148.4
)
 

($133.4
)
 

($21.9
)
 

($22.1
)
Amounts recognized in Regulatory Assets consist of (refer to Note 2 for details):
 
 
 
 
 
 
 
Net actuarial loss

$233.6

 

$235.5

 

$25.4

 

$29.8

Prior service credit
(2.3
)
 
(2.5
)
 

 
(2.7
)
 

$231.3

 

$233.0

 

$25.4

 

$27.1

 
 
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
2016
 
2015
 
2016
 
2015
Accumulated benefit obligations

$1,201.5

 

$1,166.0

 

$220.1

 

$221.4

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
1,201.5

 
1,166.0

 
220.1

 
221.4

Fair value of plan assets
895.7

 
895.0

 
105.8

 
106.9

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
1,244.3

 
1,206.3

 
N/A

 
N/A

Fair value of plan assets
895.7

 
895.0

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
IPL
2016
 
2015
 
2016
 
2015
Accumulated benefit obligations

$546.7

 

$531.0

 

$90.1

 

$91.3

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
546.7

 
531.0

 
90.1

 
91.3

Fair value of plan assets
422.0

 
422.7

 
68.2

 
69.2

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
570.4

 
556.1

 
N/A

 
N/A

Fair value of plan assets
422.0

 
422.7

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
WPL
2016
 
2015
 
2016
 
2015
Accumulated benefit obligations

$513.2

 

$493.8

 

$88.9

 

$89.7

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
513.2

 
493.8

 
88.9

 
89.7

Fair value of plan assets
389.7

 
386.8

 
18.6

 
18.7

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
529.2

 
505.9

 
N/A

 
N/A

Fair value of plan assets
389.7

 
386.8

 
N/A

 
N/A

 
 
Regulatory Assets
In addition to the amounts recognized in regulatory assets in the above tables for IPL and WPL, regulatory assets 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
 
2016
 
2015
 
2016
 
2015
Regulatory assets

$37.3

 

$38.0

 

$30.0

 

$29.5

 
 
Estimated Future Employer Contributions
Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2017 is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
Defined benefit pension plans (a)

$6.5

 

$0.7

 

$0.1

OPEB plans
8.7

 
2.0

 
6.4


(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
2017
 
2018
 
2019
 
2020
 
2021
 
2022 - 2026
Defined benefit pension benefits

$74.8

 

$73.2

 

$75.5

 

$77.6

 

$79.9

 

$405.9

OPEB
18.6

 
18.5

 
18.2

 
17.8

 
17.6

 
82.6

 

$93.4

 

$91.7

 

$93.7

 

$95.4

 

$97.5

 

$488.5

IPL
2017
 
2018
 
2019
 
2020
 
2021
 
2022 - 2026
Defined benefit pension benefits

$34.0

 

$35.1

 

$35.0

 

$37.2

 

$37.9

 

$192.1

OPEB
7.7

 
7.6

 
7.4

 
7.4

 
7.2

 
34.0

 

$41.7

 

$42.7

 

$42.4

 

$44.6

 

$45.1

 

$226.1

WPL
2017
 
2018
 
2019
 
2020
 
2021
 
2022 - 2026
Defined benefit pension benefits

$30.2

 

$30.9

 

$31.8

 

$32.5

 

$32.4

 

$167.1

OPEB
8.0

 
8.0

 
7.8

 
7.4

 
7.3

 
32.7

 

$38.2

 

$38.9

 

$39.6

 

$39.9

 

$39.7

 

$199.8

 
 
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
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Compensation expense

$18.0

 

$10.7

 

$15.3

 

$9.5

 

$5.7

 

$8.3

 

$7.9

 

$4.7

 

$6.4

Income tax benefits
7.4

 
4.4

 
6.2

 
4.0

 
2.4

 
3.4

 
3.2

 
1.9

 
2.6

 
 
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
 
2016
 
2015
 
2016
 
2015
Carrying value
$19.4
 
$18.3
 
$4.6
 
$5.0
 
 
Legal Entity [Axis]
IPL [Member]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Pension Plans, Defined Benefit [Member]
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, 2016, 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%
 
3%
Equity securities - domestic
22
%
-
42%
 
30%
Equity securities - international
8
%
-
28%
 
17%
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 plan assets were as follows (in millions):
 
2016
 
2015
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$14.4

 

$2.4

 

$12.0

 

$—

 

$10.9

 

$—

 

$10.9

 

$—

Equity securities - domestic
86.5

 
86.5

 

 

 
54.9

 
54.9

 

 

Equity securities - international
45.9

 
45.9

 

 

 
44.4

 
44.4

 

 

Global asset allocation securities
24.9

 
24.9

 

 

 
25.0

 
25.0

 

 

Fixed income securities
59.1

 
25.3

 
33.8

 

 

 

 

 

Total assets in fair value hierarchy
230.8

 

$185.0

 

$45.8

 

$—

 
135.2

 

$124.3

 

$10.9

 

$—

Assets measured at net asset value
191.2

 
 
 
 
 
 
 
287.4

 
 
 
 
 
 
Accrued investment income
0.5

 
 
 
 
 
 
 
0.1

 
 
 
 
 
 
Due to brokers, net (pending trades with brokers)
(0.5
)
 
 
 
 
 
 
 

 
 
 
 
 
 
Total pension plan assets

$422.0

 
 
 
 
 
 
 

$422.7

 
 
 
 
 
 

 
 
Legal Entity [Axis]
IPL [Member]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Other Postretirement Benefits Plans [Member]
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, the fair values of IPL’s OPEB plan assets were as follows (in millions):
 
2016
 
2015
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$0.8

 

$0.8

 

$—

 

$—

 

$0.9

 

$—

 

$0.9

 

$—

Equity securities - domestic
17.0

 
17.0

 

 

 
16.7

 
16.7

 

 

Equity securities - international
11.0

 
11.0

 

 

 
10.8

 
10.8

 

 

Global asset allocation securities
7.0

 
7.0

 

 

 
6.9

 
6.9

 

 

Fixed income securities
32.4

 
32.4

 

 

 
33.3

 
33.3

 

 

Total assets in fair value hierarchy
68.2

 

$68.2

 

$—

 

$—

 
68.6

 

$67.7

 

$0.9

 

$—

Assets measured at net asset value

 
 
 
 
 
 
 
0.6

 
 
 
 
 
 
Total OPEB plan assets

$68.2

 
 
 
 
 
 
 

$69.2

 
 
 
 
 
 
At December 31, 2016, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million and the WPL 401(h) assets were as follows:
 
Target Range
 
Actual
 
Allocation
 
Allocation
Cash and equivalents
0
%
-
15%
 
3%
Equity securities - domestic
0
%
-
45%
 
22%
Equity securities - international
0
%
-
21%
 
13%
Global asset allocation securities
5
%
-
40%
 
16%
Fixed income securities
10
%
-
70%
 
46%
 
 
Legal Entity [Axis]
IPL [Member]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
401(k) Savings Plan [Member]
Employees Participate In Defined Contribution Retirement Plans
Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions and include allocated costs associated with Corporate Services employees for IPL and WPL, were as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2016
 
2015
 
2014
 
2016

 
2015

 
2014

 
2016
 
2015
 
2014
401(k) costs

$23.6

 

$24.9

 

$22.5

 

$12.0

 

$12.7

 

$11.1

 

$10.7

 

$11.2

 

$10.5

 
 
Legal Entity [Axis]
WPL [Member]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]
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
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate for benefit obligations
4.19%
 
4.47%
 
4.18%
 
3.98%
 
4.30%
 
3.97%
Discount rate for net periodic cost
4.47%
 
4.18%
 
4.97%
 
4.30%
 
3.97%
 
4.59%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.60%
 
6.30%
 
6.20%
 
7.40%
Rate of compensation increase
3.65
%
-
4.50%
 
3.65
%
-
4.50%
 
3.50
%
-
4.50%
 
N/A
 
N/A
 
N/A
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
7.00%
 
7.25%
 
6.75%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
IPL
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate for benefit obligations
4.22%
 
4.50%
 
4.20%
 
3.95%
 
4.28%
 
3.94%
Discount rate for net periodic cost
4.50%
 
4.20%
 
5.05%
 
4.28%
 
3.94%
 
4.55%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.60%
 
6.60%
 
6.60%
 
7.60%
Rate of compensation increase
3.65%
 
3.65%
 
3.50%
 
N/A
 
N/A
 
N/A
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
7.00%
 
7.25%
 
6.75%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
Qualified Defined Benefit Pension Plan
 
OPEB Plans
WPL
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Discount rate for benefit obligations
4.23%
 
4.51%
 
4.20%
 
3.96%
 
4.28%
 
3.96%
Discount rate for net periodic cost
4.51%
 
4.20%
 
5.05%
 
4.28%
 
3.96%
 
4.56%
Expected rate of return on plan assets
7.60%
 
7.60%
 
7.60%
 
4.70%
 
4.60%
 
7.30%
Rate of compensation increase
3.65%
 
3.65%
 
3.50%
 
N/A
 
N/A
 
N/A
Medical cost trend on covered charges:
 
 
 
 
 
 
 
 
 
 
 
Initial trend rate (end of year)
N/A
 
N/A
 
N/A
 
7.00%
 
7.25%
 
6.75%
Ultimate trend rate
N/A
 
N/A
 
N/A
 
5.00%
 
5.00%
 
5.00%
 
 
Net Periodic Benefit Costs (Credits)
The components of net periodic benefit costs (credits) for sponsored defined benefit pension and OPEB plans are included in the tables below (in millions). Net periodic benefit costs are primarily included in “Other operation and maintenance” in the income statements.
Alliant Energy
Defined Benefit Pension Plans
 
OPEB Plans
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost

$12.6

 

$15.9

 

$13.1

 

$5.3

 

$5.5

 

$5.2

Interest cost
53.0

 
53.6

 
54.1

 
9.4

 
9.1

 
9.5

Expected return on plan assets (a)
(65.5
)
 
(75.0
)
 
(74.9
)
 
(6.1
)
 
(8.4
)
 
(8.3
)
Amortization of prior service cost (credit) (b)
(0.3
)
 
(0.2
)
 

 
(4.1
)
 
(11.3
)
 
(11.9
)
Amortization of actuarial loss (c)
37.4

 
35.4

 
19.5

 
4.7

 
4.8

 
2.4

Additional benefit costs

 
0.5

 

 

 

 

 

$37.2

 

$30.2

 

$11.8

 

$9.2

 

($0.3
)
 

($3.1
)
IPL
Defined Benefit Pension Plans
 
OPEB Plans
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost

$7.5

 

$8.8

 

$7.2

 

$2.3

 

$2.4

 

$2.4

Interest cost
24.5

 
25.0

 
25.1

 
3.8

 
3.8

 
3.9

Expected return on plan assets (a)
(30.9
)
 
(35.8
)
 
(35.7
)
 
(4.3
)
 
(5.7
)
 
(5.8
)
Amortization of prior service cost (credit) (b)
(0.2
)
 
(0.1
)
 

 
(2.6
)
 
(6.1
)
 
(6.3
)
Amortization of actuarial loss (c)
16.5

 
15.3

 
8.0

 
2.6

 
2.3

 
1.1

 

$17.4

 

$13.2

 

$4.6

 

$1.8

 

($3.3
)
 

($4.7
)
WPL
Defined Benefit Pension Plans
 
OPEB Plans
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Service cost

$4.9

 

$5.8

 

$4.9

 

$2.0

 

$2.1

 

$2.0

Interest cost
22.3

 
22.6

 
22.6

 
3.8

 
3.7

 
3.8

Expected return on plan assets (a)
(28.3
)
 
(32.4
)
 
(32.4
)
 
(0.8
)
 
(1.5
)
 
(1.3
)
Amortization of prior service cost (credit) (b)
0.2

 
0.2

 
0.3

 
(0.9
)
 
(3.5
)
 
(3.9
)
Amortization of actuarial loss (c)
17.6

 
16.8

 
9.2

 
1.8

 
2.2

 
1.3

Additional benefit costs

 
0.5

 

 

 

 

 

$16.7

 

$13.5

 

$4.6

 

$5.9

 

$3.0

 

$1.9


(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 Alliant Energy Cash Balance Pension Plan where gains or losses outside the 10% threshold are amortized over the time period the participants are expected to receive benefits.

 
 
Estimated Amortization From Regulatory Assets, Regulatory Liabilities And Accumulated Other Comprehensive Loss 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 2017 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

$37.5

 

$3.8

 

$16.1

 

$2.0

 

$18.5

 

$1.6

Prior service cost (credit)
(0.4
)
 
(0.2
)
 
(0.2
)
 

 
0.1

 
(0.2
)
 

$37.1

 

$3.6

 

$15.9

 

$2.0

 

$18.6

 

$1.4

 
 
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
2016
 
2015
 
2016
 
2015
Change in benefit obligation:
 
 
 
 
 
 
 
Net benefit obligation at January 1

$505.9

 

$547.6

 

$89.7

 

$94.0

Service cost
4.9

 
5.8

 
2.0

 
2.1

Interest cost
22.3

 
22.6

 
3.8

 
3.7

Plan participants’ contributions

 

 
1.2

 
1.6

Plan amendments

 

 

 
(0.2
)
Additional benefit costs

 
0.5

 

 

Actuarial (gain) loss
25.7

 
(30.0
)
 
0.5

 
(3.5
)
Gross benefits paid
(29.6
)
 
(40.6
)
 
(8.3
)
 
(8.0
)
Net benefit obligation at December 31
529.2

 
505.9

 
88.9

 
89.7

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at January 1
386.8

 
440.3

 
18.7

 
21.8

Actual return on plan assets
32.4

 
(13.0
)
 
1.2

 
(1.1
)
Employer contributions
0.1

 
0.1

 
5.8

 
4.4

Plan participants’ contributions

 

 
1.2

 
1.6

Gross benefits paid
(29.6
)
 
(40.6
)
 
(8.3
)
 
(8.0
)
Fair value of plan assets at December 31
389.7

 
386.8

 
18.6

 
18.7

Under funded status at December 31

($139.5
)
 

($119.1
)
 

($70.3
)
 

($71.0
)

 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
WPL
2016
 
2015
 
2016
 
2015
Amounts recognized on the balance sheets consist of:
 
 
 
 
 
 
 
Non-current assets

$—

 

$—

 

$2.7

 

$3.0

Other current liabilities
(0.1
)
 
(0.1
)
 
(6.4
)
 
(6.0
)
Pension and other benefit obligations
(139.4
)
 
(119.0
)
 
(66.6
)
 
(68.0
)
Net amounts recognized at December 31

($139.5
)
 

($119.1
)
 

($70.3
)
 

($71.0
)
Amounts recognized in Regulatory Assets consist of (refer to Note 2 for details):
 
 
 
 
 
 
 
Net actuarial loss

$236.1

 

$232.1

 

$21.5

 

$23.3

Prior service credit
(1.4
)
 
(1.2
)
 
(1.5
)
 
(2.4
)
 

$234.7

 

$230.9

 

$20.0

 

$20.9

 
 
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
2016
 
2015
 
2016
 
2015
Accumulated benefit obligations

$1,201.5

 

$1,166.0

 

$220.1

 

$221.4

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
1,201.5

 
1,166.0

 
220.1

 
221.4

Fair value of plan assets
895.7

 
895.0

 
105.8

 
106.9

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
1,244.3

 
1,206.3

 
N/A

 
N/A

Fair value of plan assets
895.7

 
895.0

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
IPL
2016
 
2015
 
2016
 
2015
Accumulated benefit obligations

$546.7

 

$531.0

 

$90.1

 

$91.3

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
546.7

 
531.0

 
90.1

 
91.3

Fair value of plan assets
422.0

 
422.7

 
68.2

 
69.2

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
570.4

 
556.1

 
N/A

 
N/A

Fair value of plan assets
422.0

 
422.7

 
N/A

 
N/A


 
Defined Benefit
 
 
 
Pension Plans
 
OPEB Plans
WPL
2016
 
2015
 
2016
 
2015
Accumulated benefit obligations

$513.2

 

$493.8

 

$88.9

 

$89.7

Plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Accumulated benefit obligations
513.2

 
493.8

 
88.9

 
89.7

Fair value of plan assets
389.7

 
386.8

 
18.6

 
18.7

Plans with projected benefit obligations in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligations
529.2

 
505.9

 
N/A

 
N/A

Fair value of plan assets
389.7

 
386.8

 
N/A

 
N/A

 
 
Regulatory Assets
In addition to the amounts recognized in regulatory assets in the above tables for IPL and WPL, regulatory assets 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
 
2016
 
2015
 
2016
 
2015
Regulatory assets

$37.3

 

$38.0

 

$30.0

 

$29.5

 
 
Estimated Future Employer Contributions
Estimated funding for the qualified and non-qualified defined benefit pension and OPEB plans for 2017 is as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
Defined benefit pension plans (a)

$6.5

 

$0.7

 

$0.1

OPEB plans
8.7

 
2.0

 
6.4


(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
2017
 
2018
 
2019
 
2020
 
2021
 
2022 - 2026
Defined benefit pension benefits

$74.8

 

$73.2

 

$75.5

 

$77.6

 

$79.9

 

$405.9

OPEB
18.6

 
18.5

 
18.2

 
17.8

 
17.6

 
82.6

 

$93.4

 

$91.7

 

$93.7

 

$95.4

 

$97.5

 

$488.5

IPL
2017
 
2018
 
2019
 
2020
 
2021
 
2022 - 2026
Defined benefit pension benefits

$34.0

 

$35.1

 

$35.0

 

$37.2

 

$37.9

 

$192.1

OPEB
7.7

 
7.6

 
7.4

 
7.4

 
7.2

 
34.0

 

$41.7

 

$42.7

 

$42.4

 

$44.6

 

$45.1

 

$226.1

WPL
2017
 
2018
 
2019
 
2020
 
2021
 
2022 - 2026
Defined benefit pension benefits

$30.2

 

$30.9

 

$31.8

 

$32.5

 

$32.4

 

$167.1

OPEB
8.0

 
8.0

 
7.8

 
7.4

 
7.3

 
32.7

 

$38.2

 

$38.9

 

$39.6

 

$39.9

 

$39.7

 

$199.8

 
 
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
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Compensation expense

$18.0

 

$10.7

 

$15.3

 

$9.5

 

$5.7

 

$8.3

 

$7.9

 

$4.7

 

$6.4

Income tax benefits
7.4

 
4.4

 
6.2

 
4.0

 
2.4

 
3.4

 
3.2

 
1.9

 
2.6

 
 
Legal Entity [Axis]
WPL [Member]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Pension Plans, Defined Benefit [Member]
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 plan assets were as follows (in millions):
 
2016
 
2015
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$13.3

 

$2.2

 

$11.1

 

$—

 

$10.0

 

$—

 

$10.0

 

$—

Equity securities - domestic
79.9

 
79.9

 

 

 
50.3

 
50.3

 

 

Equity securities - international
42.4

 
42.4

 

 

 
40.6

 
40.6

 

 

Global asset allocation securities
23.0

 
23.0

 

 

 
22.8

 
22.8

 

 

Fixed income securities
54.5

 
23.3

 
31.2

 

 

 

 

 

Total assets in fair value hierarchy
213.1

 

$170.8

 

$42.3

 

$—

 
123.7

 

$113.7

 

$10.0

 

$—

Assets measured at net asset value
176.6

 
 
 
 
 
 
 
263.0

 
 
 
 
 
 
Accrued investment income
0.5

 
 
 
 
 
 
 
0.1

 
 
 
 
 
 
Due to brokers, net (pending trades with brokers)
(0.5
)
 
 
 
 
 
 
 

 
 
 
 
 
 
Total pension plan assets

$389.7

 
 
 
 
 
 
 

$386.8

 
 
 
 
 
 

At December 31, 2016, 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%
 
3%
Equity securities - domestic
22
%
-
42%
 
30%
Equity securities - international
8
%
-
28%
 
17%
Global asset allocation securities
5
%
-
15%
 
10%
Risk parity allocation securities
5
%
-
15%
 
10%
Fixed income securities
20
%
-
40%
 
30%


 
 
Legal Entity [Axis]
WPL [Member]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
Other Postretirement Benefits Plans [Member]
Fair Value Of Plan Assets By Asset Category, Fair Value Hierarchy Level and Allocations
At December 31, the fair values of WPL’s OPEB plan assets were as follows (in millions):
 
2016
 
2015
 
Fair
 
Level
 
Level
 
Level
 
Fair
 
Level
 
Level
 
Level
 
Value
 
1
 
2
 
3
 
Value
 
1
 
2
 
3
Cash and equivalents

$2.0

 

$0.7

 

$1.3

 

$—

 

$2.3

 

$—

 

$2.3

 

$—

Global asset allocation securities
5.5

 
5.5

 

 

 
5.4

 
5.4

 

 

Fixed income securities
11.1

 
11.1

 

 

 
11.0

 
11.0

 

 

Total OPEB plan assets

$18.6

 

$17.3

 

$1.3

 

$—

 

$18.7

 

$16.4

 

$2.3

 

$—



At December 31, 2016, the current target ranges and actual allocations for VEBA trusts with assets greater than $5 million and the WPL 401(h) assets were as follows:
 
Target Range
 
Actual
 
Allocation
 
Allocation
Cash and equivalents
0
%
-
15%
 
3%
Equity securities - domestic
0
%
-
45%
 
22%
Equity securities - international
0
%
-
21%
 
13%
Global asset allocation securities
5
%
-
40%
 
16%
Fixed income securities
10
%
-
70%
 
46%
 
 
Legal Entity [Axis]
WPL [Member]
Award Type [Axis]
Award Type [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]
401(k) Savings Plan [Member]
Employees Participate In Defined Contribution Retirement Plans
Costs related to the 401(k) savings plans, which are partially based on the participants’ contributions and include allocated costs associated with Corporate Services employees for IPL and WPL, were as follows (in millions):
 
Alliant Energy
 
IPL
 
WPL
 
2016
 
2015
 
2014
 
2016

 
2015

 
2014

 
2016
 
2015
 
2014
401(k) costs

$23.6

 

$24.9

 

$22.5

 

$12.0

 

$12.7

 

$11.1

 

$10.7

 

$11.2

 

$10.5