UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2003
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from __________ to ___________
Commission File Number: 1-9894
A. Full title of the plan and address of the plan, if different from
that of the issuer named below:
ALLIANT ENERGY CORPORATION 401(k) SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
ALLIANT ENERGY CORPORATION
4902 North Biltmore Lane
Madison, Wisconsin 53718
REQUIRED INFORMATION
The following financial statements and schedules of the Alliant Energy
Corporation 401(k) Savings Plan, prepared in accordance with the financial
reporting requirements of the Employee Retirement Income Security Act of
1974, as amended, are filed herewith.
Page 1 of 19 pages
Exhibit Index is on page 18
1
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
FINANCIAL STATEMENTS AS OF DECEMBER 31, 2003 AND 2002
AND FOR THE YEAR ENDED DECEMBER 31, 2003,
SUPPLEMENTAL SCHEDULES FOR THE YEAR ENDED DECEMBER 31, 2003, AND
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
2
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
TABLE OF CONTENTS
Page No.
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 4
FINANCIAL STATEMENTS
Statements of Net Assets Available for Plan Benefits
as of December 31, 2003 and 2002 5
Statement of Changes in Net Assets Available for Plan Benefits
for the Year Ended December 31, 2003 6
NOTES TO FINANCIAL STATEMENTS 7-13
SUPPLEMENTAL SCHEDULES
Form 5500, Schedule H, Part IV, line 4i - Schedule of Assets (Held at End of Year)
as of December 31, 2003 14-15
Form 5500, Schedule H, Part IV, line 4j - Schedule of Reportable Transactions
for the Year Ended December 31, 2003 16
SIGNATURES 17
EXHIBIT INDEX 18
Independent Registered Public Accounting Firm Consent 19
3
Report of Independent Registered Public Accounting Firm
To the Plan Administrator of the Alliant Energy Corporation 401(k) Savings Plan:
We have audited the accompanying statements of net assets available for plan
benefits of the Alliant Energy Corporation 401(k) Savings Plan (the "Plan")
as of December 31, 2003 and 2002, and the related statement of changes in net
assets available for plan benefits for the year ended December 31, 2003.
These financial statements are the responsibility of the Plan's management.
Our responsibility is to express an opinion on these financial statements
based on our audits.
We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the net assets available for plan benefits of the Plan as of
December 31, 2003 and 2002, and the changes in net assets available for plan
benefits for the year ended December 31, 2003, in conformity with accounting
principles generally accepted in the United States of America.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules listed in
the Table of Contents are presented for the purpose of additional analysis
and are not a required part of the basic financial statements, but are
supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. These schedules are the responsibility of the Plan's
management. Such schedules have been subjected to the auditing procedures
applied in our audit of the basic 2003 financial statements and, in our
opinion, are fairly stated in all material respects when considered in
relation to the basic financial statements taken as a whole.
/s/ Deloitte & Touche LLP
Milwaukee, Wisconsin
June 14, 2004
4
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31,
2003 2002
--------------------- --------------------
Investment income receivable $6,819,703 $5,310,516
Contributions receivable 424,518 -
--------------------- --------------------
Total receivables 7,244,221 5,310,516
--------------------- --------------------
Investments, other than participant promissory notes (Refer to Note 7) 385,431,715 281,098,340
Participant promissory notes 8,213,703 7,663,518
--------------------- --------------------
Total investments 393,645,418 288,761,858
--------------------- --------------------
Net assets available for plan benefits $400,889,639 $294,072,374
===================== ====================
The accompanying Notes to Financial Statements are an integral part of these statements.
5
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
For the Year Ended December 31, 2003
Net assets available for plan benefits
- beginning of year $294,072,374
Contributions:
Cash contributions from employees 22,933,813
Rollovers from other qualified plans 330,882
Employer contributions:
Cash 719,074
Cash for purchase of Alliant Energy Corporation common stock 6,936,742
Investment activity:
Investment income 7,660,523
Net appreciation in fair value of investments (Refer to Note 7) 79,787,999
Distributions:
Distributions to participants (11,551,768)
-------------------
Net assets available for plan benefits
- end of year $400,889,639
===================
The accompanying Notes to Financial Statements are an integral part of this statement.
6
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2003
Note 1. Description of the Plan
The Alliant Energy Corporation 401(k) Savings Plan (the Plan) is a
qualified defined contribution plan under Section 401(k) of the Internal
Revenue Code (the Code), as amended, and meets the applicable requirements of
the Employee Retirement Income Security Act of 1974, as amended. The
following brief description of the Plan is provided for general information
purposes only. More complete information regarding the Plan is provided in
the summary plan description, which has been made available to all eligible
Plan participants. The Plan is administered by the Employee Total
Compensation Committee (the Committee) and the Plan sponsor is Alliant Energy
Corporate Services, Inc. (a direct subsidiary of Alliant Energy Corporation),
which reserves the right to terminate, amend or modify the Plan if future
conditions warrant such action.
Any regular employee of Alliant Energy Corporation and its participating
subsidiaries (the Company) age 18 and over may become a participant in the
Plan. Regular full-time employees and regular part-time employees
customarily scheduled to work at least half-time may participate immediately
following 30 days of service. Part-time employees customarily scheduled to
work less than half-time may participate after 12 months of service during
which he or she has earned at least 1,000 paid hours. Wisconsin Power and
Light Company "special temporary" bargaining unit employees are also eligible
under the same rules as "regular" employees.
Effective Jan. 1, 2002, the Company adopted an Employee Stock Ownership
Plan (ESOP) within the Plan. Under the new provisions, Plan participants have
the option to elect to receive cash for any dividends paid on Company common
stock within the Plan or to have the dividends reinvested in additional
shares based on the current market price. Also, the Company is eligible for
the dividend deduction provisions of Section 404(k) of the Code for common
stock held in the ESOP.
The Company provides guaranteed matching contributions for each $1
contributed by participants up to a maximum of the first 6% of the
participants' compensation. Other than the exceptions noted below, Company
match information and employee contribution limits for 2003 were as follows:
Company match for each $1 contributed
up to the maximum $0.50
Eligible employee annual contribution limit as a
percentage of compensation:
Jan. 1 - March 31 19%
April 1 - Dec. 31 50%
Maximum annual contribution limit $12,000
Beginning with the 2003 Plan year, participants who were at least 50
years old by Dec. 31, 2003 were eligible to make catch-up contributions of up
to $2,000 in 2003. These catch-up contributions were not eligible for any
Company match.
The contributions for Alliant Energy Resources, Inc. (Resources)
and Cedar Rapids and Iowa City Railway Company (CRANDIC) employees
are calculated based on a percentage of base pay, without overtime
or incentive pay, and there is a "basic" Company contribution equal to 4%
and 2%, respectively, of base pay.
7
Company contributions for Resources and CRANDIC employees are
invested at the participants' discretion. All other matching contributions
by the Company are invested in the Alliant Energy Corporation Common Stock
Fund.
Resources and CRANDIC employees may be eligible for a discretionary
Company contribution of $0.50 for every $1 contributed up to a maximum of the
first 6% of pay in addition to the "basic" Company contribution. The
discretionary contribution for both Resources and CRANDIC employees is based
on goals established by Resources and is typically determined and paid during
the first quarter of the following year. The discretionary Company
contributions for 2003 and 2002 were $424,518 and $0, respectively.
An additional Company contribution is allocated to the accounts of
active Plan participants, except for Resources and CRANDIC employees, as of
the last day of the Plan year, who had contributed 6% of compensation during
the Plan year and did not receive a Company matching contribution equal to 3%
of compensation. The amount of the additional Company contribution is the
difference between 3% of compensation during the Plan year and the amount of
Company matching contributions previously received during the Plan year.
Participants are immediately vested in their employee and employer
contributions.
Contributions under the Plan are held and invested, until distribution,
in a Trust Fund maintained by American Express Trust Company (the Trustee), a
division of American Express Financial Advisors Inc.
The investment options available to participants at Dec. 31, 2003 were
Stable Capital Fund, PIMCO Total Return Fund, American Express Trust
Short-Term Horizon (25:75) Fund, American Express Trust Long-Term Horizon
(65:35) Fund, Dodge & Cox Stock Fund, American Express Trust Long-Term
Horizon (80:20) Fund, American Express Trust Equity Index Fund III, Evergreen
Small Cap Value Fund, Vanguard Mid-Cap Index Fund, EuroPacific Growth Fund,
The Growth Fund of America, The Brown Capital Management Small Company Fund,
Dreyfus Premier Emerging Markets Fund, American Express Trust Bond Index Fund
II, Self-Managed Brokerage Account, Alliant Energy Corporation Company Stock
Fund, or a combination of the sixteen funds. The investment options
available to participants at Dec. 31, 2002 were Stable Capital Fund, PIMCO
Total Return Fund, American Express Trust Short-Term Horizon (25:75) Fund,
American Express Trust Long-Term Horizon (65:35) Fund, Dodge & Cox Stock
Fund, American Express Trust Long-Term Horizon (80:20) Fund, American Express
Trust Equity Index Fund III, Undiscovered Managers Small Cap Value Fund,
Vanguard Mid-Cap Index Fund, Putnam International Growth Fund, The Growth
Fund of America, The Brown Capital Management Small Company Fund, Alliant
Energy Corporation Company Stock Fund, or a combination of the thirteen
funds. Additionally, participants may subsequently redesignate the
distribution of future contributions or transfer existing balances between
investment funds on a daily basis, subject to the limits set forth in the
Plan. Company matching contributions invested in the Alliant Energy
Corporation Company Stock Fund may not be transferred to any other investment
fund, except for contributions made for CRANDIC and Resources employees as
previously described; however, Company matching contributions may be
transferred by certain participants during the 30-day period immediately
prior to retirement and beginning with the 2003 Plan year, participants age
55 with 10 years of service were eligible to diversify up to 100% of their
ESOP account to one or more of the investment options. A brief description
of the investment options at Dec. 31, 2003 is as follows:
Stable Capital Fund. The Stable Capital Fund is a stable value fund.
Its objective is to preserve principal while seeking a competitive level of
current income. The Stable Capital Fund is intended to be a lower risk
investment with a higher return than is typically offered by money market
funds, while it maintains liquidity and safety of principal. The fund is
invested primarily in Guaranteed Investment Contracts (GIC's) issued by one
or more insurance companies or other financial institutions. The fund may
also invest in the American Express Trust Income Fund I and the American
Express Trust Money Market Fund I. The carrying value of all GIC investments
was $38,189,962 and $36,564,953 at Dec. 31, 2003 and 2002, respectively. The
approximate fair value of these investments was $46,026,501 and $43,781,042
at Dec. 31, 2003 and 2002, respectively, based on the discounted cash flows
valuation method. Under the terms of the GIC's, the weighted average
crediting interest rate was 4.08% and 5.62% on Dec. 31, 2003 and 2002,
respectively, and is reset quarterly for all contracts. The GIC's earned an
average rate of 5.67% in 2003.
8
PIMCO Total Return Fund. The PIMCO Total Return Fund is an actively
managed, intermediate maturity bond portfolio. Its objective is to maximize
total return, consistent with preservation of capital and prudent investment
management, in order to exceed the returns of the bond market as a whole as
represented by the Lehman Brothers Aggregate Bond Index. It invests in a
portfolio of intermediate maturity bonds, typically with a majority in
treasury and mortgage-backed bonds. The average duration ranges between 3
and 6 years.
American Express Trust Short-Term Horizon (25:75) Fund. The American
Express Trust Short-Term Horizon (25:75) Fund is a lifestyle fund. Its
objective is to seek to create a diversified portfolio with a conservative
risk profile appropriate for individuals with short-term time horizons. It
invests in a predetermined mix of growth, growth/income, income and money
market (cash equivalent) investment funds.
American Express Trust Long-Term Horizon (65:35) Fund. The American
Express Trust Long-Term Horizon (65:35) Fund is a lifestyle fund. Its
objective is to seek to create a diversified portfolio with a conservative
risk profile appropriate for individuals with long-term time horizons. It
invests in a predetermined mix of growth, growth/income and income investment
funds.
Dodge & Cox Stock Fund. The Dodge & Cox Stock Fund is a large cap value
fund. Its primary objective is to seek long-term growth of principal and
income and secondary objective is to achieve a reasonable current income. It
invests primarily in a broadly diversified and carefully selected portfolio
of common stock. The fund typically invests at least 80% of its total assets
in common stock.
American Express Trust Long-Term Horizon (80:20) Fund. The American
Express Trust Long-Term Horizon (80:20) Fund is a lifestyle fund. Its
objective is to seek to create a diversified portfolio with a moderate risk
profile appropriate for individuals with long-term time horizons. It invests
in a predetermined mix of growth, growth/income and income investment funds.
American Express Trust Equity Index Fund III. The American Express
Trust Equity Index Fund III is a growth and income fund. Its objective is to
provide investment results that correspond to the price and yield performance
of publicly traded stocks, in aggregate, as represented by the Standard &
Poor's 500 Composite Stock Price Index (S&P 500). It invests in a portfolio
consisting primarily of common stocks of the S&P 500.
Evergreen Small Cap Value Fund. The Evergreen Small Cap Value Fund,
formerly known as the Undiscovered Managers Small Cap Value Fund, is a small
cap value fund. Its objective is to seek long-term growth of capital by
primarily investing in common stocks of companies with smaller market
capitalizations.
Vanguard Mid-Cap Index Fund. The Vanguard Mid-Cap Index Fund is a mid
cap/core fund. Its objective is to seek long-term capital growth by tracking
the performance of the Standard & Poor's MidCap 400 Index, which comprises a
market-weighted growth of medium-sized United States of America (U.S.)
companies. It invests in these medium-sized U.S. companies.
EuroPacific Growth Fund. Effective Dec. 31, 2003, the EuroPacific
Growth Fund replaced the Putnam International Growth Fund. Participants who
had monies invested in the Putnam International Growth Fund had their current
and future contributions transferred to the EuroPacific Growth Fund. The
EuroPacific Growth Fund is a foreign stock fund. It seeks long-term growth
of capital by investing primarily in stocks of issuers located in Europe and
the Pacific Basin.
The Growth Fund of America. The Growth Fund of America is a large cap
growth fund. It seeks to achieve long-term growth of capital. It invests
primarily in common stocks of companies that appear to offer superior
opportunities for growth of capital.
9
The Brown Capital Management Small Company Fund. The Brown Capital
Management Small Company Fund is a small cap growth fund. It seeks capital
appreciation by investing primarily in equities issued by companies with
total operating revenues of $250 million or less.
Dreyfus Premier Emerging Markets Fund. The Dreyfus Premier Emerging
Markets Fund is a growth fund. Its objective is to achieve long-term capital
appreciation by investing at least 80% of its assets in the stocks of
companies organized, or with a majority of assets or business, in emerging
market countries.
American Express Trust Bond Index Fund II. The American Express Trust
Bond Index Fund II is an income fund. Its objective is to approximate as
closely as possible the total return of the Lehman Brothers Aggregate Bond
Index, an unmanaged index. It invests in the Pyramid Broad Market Fixed
Income Index Fund which invests primarily in high-quality corporate bonds and
U.S. government securities.
Self-Managed Brokerage Account. The Self-Managed Brokerage Account
allows participants to invest in a wide range of mutual funds outside of the
core investment options available in the Plan. At Dec. 31, 2003, the
Self-Managed Brokerage Account consisted of the Primary Reserve Fund.
Alliant Energy Corporation Company Stock Fund. This fund is invested
primarily in common stock of the Company. A portion of the fund (1-2% of
total fund assets) may also be invested in the American Express Trust Money
Market Fund I to help provide liquidity for transfers out of the fund.
Purchases and sales of common stock are made by the Trustee on the open
market. Under the ESOP, Plan participants have the option to elect to
receive cash for any dividends paid on Company common stock within this fund
or to have the dividends reinvested in additional shares based on the current
market price.
Participant Loans. The Plan has provisions under which participants may
take loans up to the lesser of $50,000 or 50% of their total account balance
(a $1,000 minimum loan amount and a maximum of three loans for each
participant also apply). The Committee determines the loan interest rate
pursuant to the Plan. Interest rates on participant loans ranged from 5.0%
to 10.5% at Dec. 31, 2003 and 5.25% to 10.5% at Dec. 31, 2002.
Note 2. Summary of Significant Accounting Policies
(a) Basis of Accounting - The financial statements have been prepared in
accordance with accounting principles generally accepted in the U.S.
(b) Valuation of Investments and Income Recognition - All GIC's held by the
Plan are fully benefit responsive and are valued at contract value, which
represents contributions made under the contract, plus interest at the
contract rate (less funds used to pay plan benefits). Participant loans are
carried at unpaid principal balances due. All other Plan investments are
carried at fair value as determined by quoted market prices. Interest income
is accrued when earned. Dividend income is recorded on the ex-dividend
date. Investment transactions are recorded on the trade date.
(c) Net Appreciation in Fair Value of Investments - Net realized and
unrealized appreciation is recorded in the accompanying statement of changes
in net assets available for plan benefits as "Net appreciation in fair value
of investments."
(d) Payment of Benefits - Benefit payments to participants are recorded when
paid.
(e) Expenses - Investment management fees are paid from investment earnings
prior to crediting earnings to the individual participant account balances.
Most other Plan administrative expenses are absorbed by the Company.
(f) Use of Estimates - The preparation of financial statements in conformity
with accounting principles generally accepted in the U.S. requires the Plan
administrator to make estimates and assumptions that affect the reported
10
amounts of net assets available for plan benefits at the date of the
financial statements and the reported amounts of changes in net assets
available for plan benefits during the reporting period. Actual results
could differ from those estimates.
(g) Risk and Uncertainties - The Plan invests in various investments,
including common investment funds, mutual funds, common stock of the Company
and investment contracts. Investments, in general, are exposed to various
risks, such as interest rate, credit, and overall market volatility. Due to
the level of risk associated with certain investments, it is reasonably
possible that changes in the values of certain investments will occur in the
near term and that such changes could materially affect the amounts reported
in the financial statements.
Note 3. Tax Status
The Internal Revenue Service has determined and informed the Company by
a letter dated Aug. 25, 2003, that the Plan and related trust are designed in
accordance with the applicable sections of the Code. It is the intention of
the Company to adopt any amendments necessary to maintain the qualified
status of the Plan.
Note 4. Plan Termination Provisions
Upon termination of the Plan in its entirety, each participant is
entitled to receive, in accordance with the terms of the Plan, the entire
balance in the participant account. The Company has no intention to
terminate the Plan.
Note 5. Withdrawals and Distributions
Withdrawals from participants' account balances will be made to
participants while they are employed due to an election made by certain
participants, reaching age 59-1/2 for certain participants or 70-1/2, or
requests due to special "hardship" circumstances. Distributions from the
Plan will be made upon termination of employment (by retirement, death,
disability or otherwise) if the participant's account balance is less than
$5,000. If the participant's account balance exceeds $5,000, the participant
may elect to defer payment until he or she is age 70-1/2. Distributions can
be either in the form of a lump sum or substantially equal annual
installments. The unpaid portion of all loans made to the participant,
including accrued interest, will be deducted from the amount of the
participant account to be distributed. Distributions payable to participants
at Dec. 31, 2003 and 2002 were $0 and $222,154, respectively. Distributions
payable are not recorded in the accompanying financial statements, however,
they are recorded in the Plan's Form 5500 (refer to Note 11).
Note 6. Derivative Financial Instruments
The Plan did not invest in any material derivative financial instruments
during the years ended Dec. 31, 2003 and 2002.
Note 7. Other Investment Information
Investments held which were greater than 5% of the Plan's net assets
available for plan benefits as of Dec. 31 were as follows:
2003 2002
---------------- --------------
Alliant Energy Corporation Common Stock* $89,235,309 $52,468,184
(non-participant directed: $48,442,726 and $26,213,052, respectively)
(participant directed: $40,792,583 and $26,255,132, respectively)
American Express Trust Equity Index Fund III* 72,695,049 56,853,595
The Growth Fund of America 61,585,565 42,640,545
American Express Trust Long-Term Horizon (65:35) Fund* 31,904,378 27,051,550
The Brown Capital Management Small Company Fund 26,633,723 16,565,951
PIMCO Total Return Fund 20,219,670 21,384,606
* Represents party known to be a party-in-interest to the Plan.
11
During 2003, the Plan's investments, including gains and losses on
investments acquired and disposed of, as well as held during the year,
appreciated in value as follows:
Alliant Energy Corporation Common Stock $28,689,853
American Express Trust Equity Index Fund III 16,225,289
The Growth Fund of America 14,786,100
The Brown Capital Management Small Company Fund 7,302,216
American Express Trust Long-Term Horizon (65:35) Fund 5,501,045
Putnam International Growth Fund 2,816,496
Dodge & Cox Stock Fund 2,776,239
Vanguard Mid-Cap Index Fund 468,548
Dreyfus Premier Emerging Markets Fund 382,638
Evergreen Small Cap Value Fund 304,187
American Express Trust Income Fund I 278,177
American Express Trust Long-Term Horizon (80:20) Fund 117,482
PIMCO Total Return Fund 83,657
American Express Trust Short-Term Horizon (25:75) Fund 49,056
American Express Trust Bond Index Fund II 7,016
----------------------
Net appreciation in fair value of investments $79,787,999
======================
Note 8. Non-Participant Directed Investments
Information about the net assets and the significant components of the
changes in net assets relating to the non-participant directed investments
was as follows:
As of Dec. 31,
Net Assets: 2003 2002
---------------------- ----------------------
Alliant Energy Corporation Common Stock $48,442,726 $26,213,052
American Express Trust Money Market Fund I 605,615 464,894
Contributions receivable 424,518 --
Investment income receivable 441 558
---------------------- ----------------------
$49,473,300 $26,678,504
====================== ======================
For the Year Ended
Changes in Net Assets: Dec. 31, 2003
-----------------------
Employer contributions $6,936,742
Results of investment activity:
Investment income 1,777,793
Net appreciation in fair value of investments 15,186,682
Transfers to participant directed investments (298,306)
Distributions to participants (808,115)
-----------------------
$22,794,796
=======================
Note 9. Related Party Transactions
Certain Plan investments are shares of mutual funds and common trust
funds managed by an affiliate of the Trustee and shares of common stock of
the Company. As of Dec. 31, 2003 and 2002, the Plan held 3,583,747 and
3,170,283 shares of Alliant Energy Corporation common stock, respectively.
These transactions qualify as party-in-interest.
12
Note 10. Amendments and Changes to the Plan
On April 1, 2003, the Plan was amended to allow Alliant Energy Neenah,
LLC (a subsidiary of Resources) employees who were actively employed on Jan.
31, 2003 to participate in the Plan.
Note 11. Reconciliation to Form 5500
Distributions payable to participants are not included in the
accompanying financial statements, however, they are recorded in the Plan's
Form 5500. The following table reconciles net assets available for plan
benefits per the financial statements to the Form 5500 as filed by the
Company for the year ended Dec. 31, 2003 and 2002:
2003 2002
-------------------------- --------------------------
Net assets available for plan benefits
per financial statements $400,889,639 $294,072,374
Adjustments:
Benefits requested not yet paid -- (222,154)
-------------------------- ---------------------------
Amounts reported per Form 5500 $400,889,639 $293,850,220
========================== ===========================
The following table reconciles changes in net assets available for plan
benefits per the financial statements to the Form 5500 as filed by the
Company for the year ended Dec. 31, 2003:
Distributions to
Participants
---------------------------
Amounts reported per financial statements ($11,551,768)
Adjustments:
Changes in benefits requested not yet paid 222,154
---------------------------
Amounts reported per Form 5500 ($11,329,614)
===========================
Note 12. Subsequent Events
Effective March 1, 2004, the Plan replaced the Vanguard Mid-Cap Index
Fund with the State Street Global Advisors Mid-Cap Index Fund.
13
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AS OF DECEMBER 31, 2003
Identity of issue, borrower, Description of investment including maturity date, Current
lessor, or similar party rate of interest, collateral, par or maturity value Cost Value
--------------------------------- --------------------------------------------------------------------- ----------- ------------
Interest Bearing Cash American Express Trust Money Market Fund I*, 4,132,841 shares $4,132,841 $4,132,841
Primary Reserve Fund, 39,889 shares 39,889 39,889
Registered Investment Companies Evergreen Small Cap Value Fund, 83,689 shares 1,486,127 1,785,913
The Growth Fund of America, 2,509,599 shares 47,359,686 61,585,565
PIMCO Total Return Fund, 1,887,924 shares 20,367,334 20,219,670
Dodge & Cox Stock Fund, 127,389 shares 11,773,840 14,494,303
The Brown Capital Management Small Company Fund, 895,853 shares 19,831,451 26,633,723
Vanguard Mid-Cap Index Fund, 222,295 shares 2,482,046 2,918,734
American Express Trust Short-Term Horizon (25:75) Fund*, 35,410 shares 628,083 678,847
American Express Trust Long-Term Horizon (65:35) Fund*,
2,729,903 shares 26,815,786 31,904,378
American Express Trust Long-Term Horizon (80:20) Fund*, 39,158 shares 814,593 924,476
Dreyfus Premier Emerging Markets Fund, 200,486 shares 3,086,897 3,370,171
EuroPacific Growth Fund, 438,319 shares 10,767,440 13,118,882
Common/Collective Trusts American Express Trust Equity Index Fund III*, 2,449,624 shares 70,511,230 72,695,049
American Express Trust Income Fund I*, 83,217 shares 4,611,795 5,299,028
American Express Trust Investment Grade Bond Fund*, 305,535 shares 4,470,587 4,788,649
American Express Trust Bond Index Fund II*, 18,086 shares 245,445 247,548
Corporate Stocks: Common Alliant Energy Corporation common stock*, 3,583,747 shares 87,615,743 89,235,309
Corporate Bonds Americredit 2002-B A3, 3.78%, 2/12/07 198,268 200,488
AMCAR 2002-C AR, 3.55%, 2/12/08 99,982 101,797
CWL 2003-5 AF5, 3.61%, 4/25/30 149,997 151,055
COAFT 2002-B A4A, 3.32%, 4/15/09 101,969 101,837
COMET 2003-A4 A4, 3.65%, 7/15/11 100,449 100,000
FSPC T-17 A4 ABS HEL, 6.93%, 1/25/26 665,902 689,105
HART 2003-A A3, 2.33%, 11/15/07 149,998 150,539
LB-UBS 2002-A2, 4.90%, 6/15/26 200,995 210,643
LB-UBS 2002-C4 A2, 4.02%, 9/15/26 151,423 152,705
LBUBS 2003-C3 A1, 2.60%, 5/15/27 189,526 186,357
LBUBS 2003-C7 A2, 4.06%, 9/15/27 150,747 150,778
LBUBS 2003-C8 A2, 4.21%, 11/15/27 150,744 152,130
MBNA 2003-A11, 3.65%, 3/15/11 199,643 200,156
MSC 2003-IQ4 A1, 3.27%, 5/15/40 68,501 65,821
RALI SER 2003-QS4 ABS, 5.50%, 9/25/33 295,082 293,467
RALI 2003-QR19 CB2, 5.75%, 10/25/33 258,477 257,031
RASC 2003-KS9 A13, 3.25%, 12/25/28 149,979 150,094
RASC 2003-KS10 A13, 3.25%, 5/25/29 149,997 149,977
WAMU 2003 AR12 A6, 3.96%, 2/25/34 99,997 99,531
WESTO 2002-2 A4, 4.50%, 2/20/10 155,865 155,254
WESTO 2003-4 A3, 2.39%, 1/22/08 149,994 150,375
WBCMT 2003-C8 A2, 3.89%, 11/15/35 150,745 150,670
Government and Agency Obligations FHLMC Gold #E91326, 6.50%, 9/1/17 132,821 132,836
FHLMC Gold #E96180, 4.50%, 5/1/13 186,128 182,611
FHLMC Gold #E96579, 4.50%, 6/1/13 195,118 191,490
FHLMC MTN, 3.525%, 12/20/07 370,000 375,967
FHLMC, 3.00%, 10/27/06 300,000 301,390
FHLMC Gold #C66932, 6.00%, 5/1/32 114,852 118,476
FHLMC Gold #B10258, 5.00%, 10/1/18 328,009 328,702
FHLMC Gold #B10776, 5.00%, 11/1/13 153,008 153,586
FHLB, 2.88%, 9/15/06 202,463 201,934
FHLMC 2393-A CMO, 5.50%, 4/15/30 70,253 70,571
FHLMC, 2.38%, 4/15/06 452,800 451,775
FHLMC, 2.75%, 8/15/06 607,129 605,505
FHLMC, 3.63%, 9/15/08 251,973 251,298
FNMA Benchmark, 4.25%, 7/15/07 184,523 182,515
FNMA, 2.25%, 5/15/06 399,188 399,998
FNMA, 3.88%, 11/17/08 349,202 351,246
Fannie Mae, 3.75%, 1/23/08 250,000 250,410
FNMA #251887, 7.00%, 5/1/28 49,835 50,369
FNMA 15yr #252260, 6.00%, 3/1/10 726,201 767,179
FNMA #254187, 5.00%, 12/1/08 587,104 605,166
FNMA #254291, 7.00%, 4/1/17 200,081 200,755
FNMA #254757, 5.00%, 3/31/13 179,436 176,908
FNMA #545701, 7.00%, 7/1/12 286,865 285,574
FNMA #545864, 5.50%, 8/1/17 288,640 296,070
FNMA #555655, 4.46%, 7/1/33 295,251 295,149
FNMA #555740, 4.50%, 9/1/18 285,169 291,946
FNMA #640996, 7.50%, 5/1/32 116,511 116,361
FNMA #648349, 6.00%, 6/1/17 136,634 137,181
FNMA #679357, 5.50%, 1/1/18 1,126,296 1,118,843
14
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AS OF DECEMBER 31, 2003 (Continued)
Identity of issue, borrower, Description of investment including maturity date, Current
lessor, or similar party rate of interest, collateral, par or maturity value Cost Value
--------------------------------- -------------------------------------------------------------- ------------- ---------
FNMA 2002-W3 A3, 6.00%, 7/25/24 275,741 287,459
FNMA 2002-W5 A6, 6.00%, 8/25/32 251,758 259,010
FNMA 2002-W4 A3, 5.30%, 5/25/42 401,000 416,409
FNMA 2002-W9 A3, 5.00%, 8/25/42 201,141 208,018
FNMA CMO 03-W2-2A6, 5.50%, 7/25/42 310,313 309,108
FHLMC 2492-B, 5.50%, 5/15/13 378,127 374,814
FNMA #200394, 5.50%, 7/25/23 313,172 315,651
FHLMC SF1 A3, 2.00%, 12/15/08 150,082 149,912
FHLMC 2617 HD, 7.00%, 6/15/16 153,394 152,163
FNMA 2003-112 AB, 4.00%, 6/25/16 147,179 148,955
FNMA 2003-109 CX, 4.00%, 7/25/16 150,791 149,682
FNMA 2003-106 B, 4.50%, 10/25/19 204,063 201,235
FNMA 2003-W16 AF3, 2.91%, 1/25/29 149,997 148,711
FNMA 2003-133 GB, 8.00%, 12/25/26 109,578 109,688
FHLMC 2657 NT, 5.00%, 1/15/16 156,117 157,298
FHLMC 2663 BA, 4.00%, 8/15/16 95,524 97,295
FHLMC 2672 NT, 5.00%, 2/15/16 208,289 209,745
FHLMC 2662 DB, 5.00%, 2/15/16 156,047 157,301
FHLMC 2685 MX, 4.00%, 7/15/16 151,242 149,945
FHLMC 2681 PJ, 5.00%, 10/15/15 313,734 312,459
FHLMC 2688 DE, 4.50%, 2/15/20 151,359 150,633
FHLMC 2716 UA, 4.50%, 7/15/20 299,250 302,260
FNMA #685433, 6.50%, 3/1/33 256,982 255,515
FNMA ARM #704534, 3.75%, 6/1/33 142,551 145,740
FNMA #705304, 4.91%, 6/1/33 197,193 198,645
FNMA ARM #722781, 4.29%, 9/1/33 492,890 498,361
FNMA #725090, 4.82%, 11/1/33 149,203 150,891
FNMA ARM #726155, 3.62%, 8/1/33 143,267 146,262
GNMA 2003-109 B, 3.22%, 9/16/21 149,334 148,875
GNMA 2003-36A, 2.93%, 10/16/20 97,742 97,499
GNMA 2003-22 A CMO, 2.75%, 6/16/21 77,165 77,938
RASC SER 2002-KS1, 5.86%, 11/25/29 319,781 309,402
VENDEE 2003-2 C, 5.00%, 7/15/20 103,406 103,791
U.S. Treasury Note, 5.63%, 2/15/06 438,250 431,078
U.S. Treasury Note, 5.75%, 11/15/05 385,820 375,785
U.S. Treasury Note, 1.75%, 12/31/04 251,201 251,260
U.S. Treasury Note, 1.25%, 5/31/05 2,207,913 2,214,095
U.S. Treasury Note, 2.63%, 11/15/06 3,612,833 3,622,701
U.S. Treasury Bond, 3.38%, 12/15/08 510,581 513,504
Investment Contracts Monumental Life Insurance Company, 3.71%, 12/31/50
Synthetic Guaranteed Investment Contract Wrapper - (49,656)
Bank of America NA, 5.72%, 12/31/50
Synthetic Guaranteed Investment Contract Wrapper - (168,294)
Rabobank International, 4.91%, 12/31/50
Synthetic Guaranteed Investment Contract Wrapper - (28,373)
CDC Financial Products Inc., 2.95%, 12/31/50
Synthetic Guaranteed Investment Contract Wrapper - (34,837)
JP Morgan Chase & Co., 3.75%, 12/31/50
Synthetic Guaranteed Investment Contract Wrapper - (39,533)
UBS Warburg, 3.60%, 12/31/50
Synthetic Guaranteed Investment Contract Wrapper - (55,322)
State Street Bank and Trust Company, 3.09%, 12/31/50
Synthetic Guaranteed Investment Contract Wrapper - (10,126)
AIG Financial Products Corp., 3.07%, 12/31/50
Synthetic Guaranteed Investment Contract Wrapper - (121,985)
United of Omaha, 1.30%, 5/20/05 2,002,242 2,002,242
John Hancock Life Insurance Company, 7.69%, 3/31/05 2,115,241 2,115,241
New York Life Insurance Company, 7.41%, 8/15/05 2,055,942 2,055,942
Hartford, 5.21%, 11/15/06 2,012,842 2,012,842
Protective Life Insurance Company, 6.12%, 6/15/06 2,065,677 2,065,677
United of Omaha, 5.45%, 9/9/04 1,016,874 1,016,874
Participant Promissory Notes Maximum loan -- $50,000
Various interest rates -- 5.0% to 10.5%
Primarily maturing within 5 years 8,213,703 8,213,703
-------------- ----------------
$363,601,114 $400,268,084 (1)
============== ================
(1) The difference between the total current value on this Schedule H, Part IV, Line 4i and the total investments on the Statements
of Net Assets Available for Plan Benefits is equal to accrued interest on the GIC's.
* Represents party known to be a party-in-interest to the Plan.
15
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4j - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 2003
Identity
of Party Involved and Total Number Total Value Total Number Net Selling Adjusted Cost Net
Description of Assets of Purchases of Purchases (1) of Sales Price (1) of Assets Sold Gain (Loss)
--------------------- ------------ ---------------- -------- ----------- -------------- -----------
------------------------------------------------------------------------------------------------------------------------------------
Single Transaction Exceeds 5% of Value:
None.
------------------------------------------------------------------------------------------------------------------------------------
Series of Transactions With Same Broker Exceeds 5% of Value:
None.
------------------------------------------------------------------------------------------------------------------------------------
Series of Transactions In Same Security Exceeds 5% of Value:
American Express Trust Money Market Fund I (2) 259 $49,941,833 412 $47,335,578 $47,335,578 $ -
------------------------------------------------------------------------------------------------------------------------------------
Single Transaction With One Broker Exceeds 5% of Value:
None.
------------------------------------------------------------------------------------------------------------------------------------
(1) The purchase/selling price was equal to the fair value on the date of purchase/sale.
(2) The Plan invests in two separate American Express Trust Money Market Fund I accounts. The total number of purchases above
reflects the number of purchases from one of the accounts. The Trustee is unable to provide the number of purchases for
the second account which is one of the underlying assets of the Synthetic GIC's.
16
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Employee Total Compensation Committee, which administers the Plan, has duly
caused this Annual Report to be signed on its behalf by the undersigned,
thereunto duly authorized, on this 25th day of June, 2004.
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
/s/ Jonathan C. Day
--------------------
Jonathan C. Day
The foregoing person is the Director - Total
Compensation of Alliant Energy Corporation and
the Chairman of the Alliant Energy
Corporation Employee Total Compensation
Committee.
17
EXHIBIT INDEX
ALLIANT ENERGY CORPORATION
401(k) SAVINGS PLAN
FORM 11-K
Page Number in
Sequentially Numbered
Exhibit No. Exhibit Form 11-K
----------- ------- ---------
23 Independent Registered Public Accounting Firm Consent 19
18