ALLIANT ENERGY CORP
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
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6. Investments
NOTE 6. INVESTMENTS
Unconsolidated Equity Investments - Alliant Energy’s unconsolidated investments accounted for under the equity method of accounting are as follows (in millions):
| Ownership Interest at · Carrying Value at December 31, · Equity (Income) / Loss | ||||||
|---|---|---|---|---|---|---|
| December 31, 2023 | 2023 | 2022 | 2023 | 2022 | 2021 | |
| ATC Holdings | 16%, 20% | $386 | $358 | ($49) | ($41) | ($43) |
| Non-utility wind farm in Oklahoma | 50% | 104 | 101 | (7) | (5) | (4) |
| Corporate venture investments | Various | 74 | 62 | (2) | (3) | (13) |
| Other | Various | 21 | 21 | (3) | (2) | (2) |
| $585 | $542 | ($61) | ($51) | ($62) | ||
Summary aggregate financial information from the financial statements of these holdings is as follows (in millions):
| Alliant Energy | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenues | $898 | $813 | $802 |
| Operating income | 384 | 350 | 357 |
| Net income | 370 | 675 | 358 |
| As of December 31: | |||
| Current assets | 221 | 227 | |
| Non-current assets | 9,032 | 8,292 | |
| Current liabilities | 528 | 620 | |
| Non-current liabilities | 3,584 | 3,285 | |
| Noncontrolling interest | 259 | 289 | |
ATC Holdings -As of December 31, 2023, Alliant Energy has a 16% ownership interest in ATC and a 20% ownership interest in ATC Holdco LLC, collectively referred to as ATC Holdings. ATC is an independent, for-profit, transmission-only company. ATC Holdco LLC holds Duke-American Transmission Company, LLC, a joint venture between Duke Energy Corporation and ATC, that owns electric transmission infrastructure in North America. Refer to Note 17(g) for discussion of a reduction in earnings recorded in 2022 related to a court decision, which is currently expected to reduce the base return on equity authorized for MISO transmission owners, including ATC.
Non-utility Wind Farm in Oklahoma -The non-utility wind farm located in Oklahoma provides electricity to a third-party under a long-term PPA, and has both cash and tax equity ownership. Alliant Energy does not maintain or operate the wind farm, and provided a parent guarantee of its subsidiary’s indemnification obligations under the operating agreement and PPA. Refer to Note 17(d) for discussion of the guarantee.
Corporate Venture Investments -Alliant Energy has various minority ownership interests in regional and national venture funds, including a global coalition of energy companies working together to help advance the transition towards a cleaner, more sustainable, and inclusive energy future, by identifying and researching innovative technologies and business models within the emerging energy economy.
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