That's the TDP, not it's power consumption. Consumption on idle for the i5 4460 should be around 55-61 watts depending on the chip, and around 156 watts under full load. It being a non-K series CPU means that there will be no overclocking anyway, so that 156W maximum should account for turbo speeds as well.
EDIT: I shall correct myself. The i5 4460 consumes just 44W on average at idle, and 122w at full load running Linpack, as detailed here:
http://www.xbitlabs.com/articles/cpu/display/intel-haswell-refresh_6.html
FURTHER EDIT: Here are the details for the Ivy Bridge counterparts, from tests conducted by the same people as the previous link:
http://www.xbitlabs.com/articles/cpu/display/core-i5-ivy-bridge_9.html