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Alliant Energy Corporation
4902 North Biltmore Lane
Madison, WI 53718-2148
|FOR IMMEDIATE RELEASE||Media Contact:||Scott Reigstad (608) 458-3145|
|Investor Relations:||Susan Gille (608) 458-3956|
ALLIANT ENERGY ANNOUNCES 2011 RESULTS
MADISON, Wis. February 10, 2012 Alliant Energy Corporation (NYSE: LNT) today announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings from continuing operations for 2011 and 2010 as follows:
EPS from Continuing
|GAAP EPS from
Non-regulated and Parent
Alliant Energy Consolidated
2011 utility and transportation results were in line with our expectations, however RMT results disappointed, said Bill Harvey, Alliant Energy Chairman and CEO. Our utility, transportation and non-regulated generation businesses continue to produce solid financial results. In 2012, we will continue to provide safe, reliable service to our customers and will remain focused on delivering earnings growth by successfully executing our strategic plan, including continued implementation of operating modifications and efficiencies throughout the business to control costs.
Utilities - Alliant Energys utility operations generated $2.77 per share of non-GAAP EPS from continuing operations in 2011, which was $0.12 per share higher than in 2010. Earnings for Alliant Energys utility business were positively impacted by the implementation of new electric base rates in its three retail jurisdictions, lower capacity payments, production tax credits generated by Wisconsin Power and Light Companys (WPLs) Bent Tree wind project in 2011 and positive weather impacts on electric sales. The positive EPS drivers were partially offset by depreciation and operating expenses for WPLs Bent Tree wind project, higher electric transmission expenses net of recoveries, income tax impacts at Interstate Power and Light Company (IPL) due to Iowa rate making practices, allowance for funds used during construction on WPLs Bent Tree wind project in 2010 and higher depreciation expense.
Non-regulated and Parent - Alliant Energys non-regulated and parent operations generated a loss of $0.01 per share of non-GAAP EPS from continuing operations in 2011, which was $0.11 per share lower than in 2010. Earnings for Alliant Energys non-regulated business were negatively impacted by losses at RMT, Inc. (RMT) due to solar subcontractor performance and erosion of margins on wind projects. This negative EPS driver was partially offset by higher earnings generated by Alliant Energys Transportation business.
Earnings Adjustments - 2011 non-GAAP EPS excludes net losses of $0.03 per share from adjustments consisting of restructuring and impairment charges, regulatory-related charges and credits, charges related to an amendment to Alliant Energys Cash Balance Pension Plan, charges for emission allowance contracts and the reversal of deferred tax valuation allowances. 2010 non-GAAP EPS excludes net losses of $0.13 per share from adjustments consisting of regulatory-related charges and credits, healthcare legislation charges, restructuring and impairment charges, gains related to completion of federal income tax audits and a depreciation adjustment. These adjustments, which relate to significant charges or gains that are not normally
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The following information was filed by Alliant Energy Corp (LNT) on Friday, February 10, 2012 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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