MADISON, Wis. - February 14, 2013 - Alliant Energy Corporation (NYSE: LNT) today announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings from continuing operations for 2012 and 2011 as follows:
Adjusted (non-GAAP) EPS from Continuing Operations
GAAP EPS from Continuing Operations
Utility and Corporate Services
Non-regulated and Parent
Alliant Energy Consolidated
“In 2012, we delivered solid financial results,” said Patricia Kampling, Alliant Energy Chairman, President and CEO. “Consistent with our long-term earnings growth goal, our non-GAAP weather adjusted earnings increased by 5% over calendar year 2011.”
Utility and Corporate Services - Alliant Energy’s Utility and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $2.87 per share of non-GAAP earnings per share (EPS) from continuing operations in 2012, which was $0.10 per share higher than 2011. Income tax impacts at IPL due to Iowa rate-making practices, lower generation operation and maintenance expenses, higher WPL retail fuel cost recovery, and higher AFUDC related to emission control projects led to higher EPS in 2012 when compared to 2011. These positive EPS drivers were partially offset by higher depreciation expense, higher capacity charges for nuclear purchased power agreements, and record warm weather in the first quarter of 2012, negatively impacting electric and gas sales. The weather impact on electric and gas sales was $0.12 per share and $0.16 per share in 2012 and 2011, respectively.
Non-regulated and Parent - Alliant Energy’s non-regulated and parent operations generated $0.18 per share of non-GAAP EPS from continuing operations in 2012, which was the same as 2011.
Earnings Adjustments - 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 due to the RMT sale and regulatory-related credits. 2011 non-GAAP EPS excludes net losses of $0.03 per share from adjustments consisting of impairment charges, regulatory-related charges and credits, charges related to an amendment to Alliant Energy’s Cash Balance Pension Plan, charges for emission allowance contracts and the reversal of deferred tax valuation allowances. 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 5 of this document for additional details of the earnings adjustments for 2012 and 2011.
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The following information was filed by Alliant Energy Corp (LNT) on Thursday, February 14, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: LNT CIK: 352541 Form Type:10-K Annual Report Accession Number: 0000352541-13-000007 Submitted to the SEC: Tue Feb 26 2013 5:15:59 PM EST Accepted by the SEC: Tue Feb 26 2013 Period: Monday, December 31, 2012 Industry: Electric And Other Services Combined