MADISON, Wis. - February 23, 2015 - Alliant Energy Corporation (NYSE: LNT) today announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated earnings per share (EPS) from continuing operations for 2014 and 2013 as follows:
Adjusted (non-GAAP) EPS from Continuing Operations
GAAP EPS from Continuing Operations
Utilities and Corporate Services
Non-regulated and Parent
Alliant Energy Consolidated
“In 2014, we once again delivered solid financial and operational results,” said Patricia Kampling, Alliant Energy Chairman, President and CEO. “I am proud of our ability to grow earnings while minimizing increases for customers. We also successfully completed two major emission controls projects on time and below budget.”
Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $3.37 per share of non-GAAP EPS from continuing operations in 2014, which was $0.13 per share higher than 2013. The primary drivers of higher EPS in 2014 when compared to 2013 were lower capacity charges related to the Interstate Power and Light Company (IPL) Duane Arnold Energy Center (DAEC) and Wisconsin Power and Light Company (WPL) Kewaunee Nuclear Power Plant (Kewaunee) purchased power agreements. These positive earnings drivers were partially offset by retail electric customer billing credits at IPL; higher energy efficiency cost recovery amortizations at WPL; higher generation, distribution and customer service operation and maintenance expenses; lower year-over-year electric and gas sales attributed to weather; and higher depreciation expense at both IPL and WPL.
Non-regulated and Parent - Alliant Energy’s Non-regulated and Parent operations generated $0.11 per share of non-GAAP EPS from continuing operations in 2014, which was $0.04 per share higher than 2013.
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. 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 2013.
The following information was filed by Alliant Energy Corp (LNT) on Tuesday, February 24, 2015 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: 0000352541-15-000005 Submitted to the SEC: Tue Feb 24 2015 8:52:50 PM EST Accepted by the SEC: Wed Feb 25 2015 Period: Wednesday, December 31, 2014 Industry: Electric And Other Services Combined