February 25, 2014
Alliant Energy Corporation (NYSE: LNT) announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated earnings per share (EPS) from continuing operations for 2013 and 2012.
"2013 was a good year for Alliant Energy, both financially and operationally," said Patricia Kampling, Alliant Energy Chairman, President and CEO. "Financially, non-GAAP weather-normalized earnings increased 7 percent over 2012, at the top end of our projected long-term growth rate of 5 to 7 percent. And operationally, we remain focused on our mission to safely deliver reliable power, and exceptional customer service, even during the extreme weather conditions we have been experiencing."
Utilities and Corporate Services - Alliant Energy's Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $3.24 per share of non-GAAP EPS from continuing operations in 2013, which was $0.37 per share higher than 2012. The primary drivers of higher EPS in 2013 when compared to 2012 were lower capacity charges, higher revenue requirement adjustment related to tax benefits at IPL, higher weather-normalized retail electric and gas sales, and lower energy conservation expenses. These positive EPS drivers were partially offset by higher depreciation expense, higher generation and distribution expenses, and higher transmission expense. The weather impact on electric and gas sales for the year was $0.17 per share and $0.12 per share in 2013 and 2012, respectively.
Non-regulated and Parent - Alliant Energy's non-regulated and parent operations generated $0.07 per share of non-GAAP EPS from continuing operations in 2013, which was $0.11 per share lower than 2012. The primary drivers of non-regulated and parent year-over-year results were the anticipated losses related to the Franklin County wind project and lower sales at the Transportation business.
Earnings Adjustments - 2013 non-GAAP EPS excludes net losses of $0.02 per share from adjustments consisting of charges associated with preferred stock redemptions at IPL and WPL, and a regulatory-related credit at IPL related to its Whispering Willow - East wind project due to a December 2013 Minnesota Public Utilities Commission (MPUC) order. 2012 non-GAAP EPS excludes net losses of $0.12 per share from adjustments consisting of increased tax obligations at the utilities due to state tax apportionment changes as a result of Alliant Energy's sale of the remainder of its RMT, Inc. business and regulatory-related credits. Non-GAAP adjustments, which relate to material charges or income that are not normally associated with ongoing operations, are provided as a supplement to results reported in accordance with GAAP. Refer to page 6 of this document for additional details of the earnings adjustments for 2013 and 2012.
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For more information:
Alliant Energy Corporation
4902 N Biltmore Ln
United States, 53707-1007
Contact person: Scott Reigstad
Tel: (608) 458-3145