ALLIANT ENERGY CORP
For the period ended Mar 31, 2024. Filed May 3, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
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. Fair Value Measurements
NOTE 12. FAIR VALUE MEASUREMENTS
Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions):
| Alliant Energy · March 31, 2024 · December 31, 2023 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fair Value · Fair Value | ||||||||||||||||
| Carrying · Level · Level · Level · Carrying · Level · Level · Level | ||||||||||||||||
| Amount | 1 | 2 | 3 | Total | Amount | 1 | 2 | 3 | Total | |||||||
| Assets: | ||||||||||||||||
| Money market fund investments | $10 | $10 | $— | $— | $10 | $45 | $45 | $— | $— | $45 | ||||||
| Commodity derivatives | 56 | — | 46 | 10 | 56 | 88 | — | 59 | 29 | 88 | ||||||
| Interest rate derivatives | 3 | — | 3 | — | 3 | 1 | — | 1 | — | 1 | ||||||
| Deferred proceeds | 184 | — | — | 184 | 184 | 216 | — | — | 216 | 216 | ||||||
| Liabilities: | ||||||||||||||||
| Commodity derivatives | 94 | — | 91 | 3 | 94 | 98 | — | 93 | 5 | 98 | ||||||
| Long-term debt (incl. current maturities) | 9,333 | — | 9,051 | — | 9,051 | 9,034 | — | 8,677 | — | 8,677 | ||||||
| IPL · March 31, 2024 · December 31, 2023 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fair Value · Fair Value | ||||||||||||||||
| Carrying · Level · Level · Level · Carrying · Level · Level · Level | ||||||||||||||||
| Amount | 1 | 2 | 3 | Total | Amount | 1 | 2 | 3 | Total | |||||||
| Assets: | ||||||||||||||||
| Money market fund investments | $6 | $6 | $— | $— | $6 | $45 | $45 | $— | $— | $45 | ||||||
| Commodity derivatives | 34 | — | 26 | 8 | 34 | 54 | — | 30 | 24 | 54 | ||||||
| Deferred proceeds | 184 | — | — | 184 | 184 | 216 | — | — | 216 | 216 | ||||||
| Liabilities: | ||||||||||||||||
| Commodity derivatives | 30 | — | 27 | 3 | 30 | 30 | — | 25 | 5 | 30 | ||||||
| Long-term debt (incl. current maturities) | 3,945 | — | 3,607 | — | 3,607 | 3,945 | — | 3,664 | — | 3,664 | ||||||
| WPL · March 31, 2024 · December 31, 2023 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fair Value · Fair Value | ||||||||||||||||
| Carrying · Level · Level · Level · Carrying · Level · Level · Level | ||||||||||||||||
| Amount | 1 | 2 | 3 | Total | Amount | 1 | 2 | 3 | Total | |||||||
| Assets: | ||||||||||||||||
| Commodity derivatives | $22 | $— | $20 | $2 | $22 | $34 | $— | $29 | $5 | $34 | ||||||
| Liabilities: | ||||||||||||||||
| Commodity derivatives | 64 | — | 64 | — | 64 | 68 | — | 68 | — | 68 | ||||||
| Long-term debt | 3,367 | — | 3,176 | — | 3,176 | 3,070 | — | 2,933 | — | 2,933 | ||||||
Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):
| Alliant Energy | Commodity Contract Derivative | |||
|---|---|---|---|---|
| Assets and (Liabilities), net | Deferred Proceeds | |||
| Three Months Ended March 31 | 2024 | 2023 | 2024 | 2023 |
| Beginning balance, January 1 | $24 | $19 | $216 | $185 |
| Total net losses included in changes in net assets (realized/unrealized) | (3) | (4) | — | — |
| Settlements (a) | (14) | (20) | (32) | (32) |
| Ending balance, March 31 | $7 | ($5) | $184 | $153 |
| The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | ($3) | ($4) | $— | $— |
| IPL | Commodity Contract Derivative | |||
|---|---|---|---|---|
| Assets and (Liabilities), net | Deferred Proceeds | |||
| Three Months Ended March 31 | 2024 | 2023 | 2024 | 2023 |
| Beginning balance, January 1 | $19 | $16 | $216 | $185 |
| Total net gains (losses) included in changes in net assets (realized/unrealized) | (4) | 1 | — | — |
| Settlements (a) | (10) | (17) | (32) | (32) |
| Ending balance, March 31 | $5 | $— | $184 | $153 |
| The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at March 31 | ($4) | $1 | $— | $— |
| WPL | Commodity Contract Derivative | |
|---|---|---|
| Assets and (Liabilities), net | ||
| Three Months Ended March 31 | 2024 | 2023 |
| Beginning balance, January 1 | $5 | $3 |
| Total net gains (losses) included in changes in net assets (realized/unrealized) | 1 | (5) |
| Settlements | (4) | (3) |
| Ending balance, March 31 | $2 | ($5) |
| The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at March 31 | $1 | ($5) |
(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold.
Commodity Contracts -The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):
| Alliant Energy | IPL | WPL | ||||
|---|---|---|---|---|---|---|
| Excluding FTRs | FTRs | Excluding FTRs | FTRs | Excluding FTRs | FTRs | |
| March 31, 2024 | ($1) | $8 | ($1) | $6 | $— | $2 |
| December 31, 2023 | 3 | 21 | 3 | 16 | — | 5 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.