ALLIANT ENERGY CORP

For the period ended Jun 30, 2024. Filed Aug 2, 2024.

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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.

Jun 30, 2024 · Filed Aug 2, 2024

LNT$73.24-0.3%Stored close · as of Nov 10, 2026

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Contents

Alliant Energy Corporation

For the Three Months · For the Six Months
	Ended June 30,		Ended June 30,
	2024	2023	2024	2023
(in millions, except per share amounts)
Revenues:
Electric utility	$789	$799	$1,580	$1,567
Gas utility	69	77	273	353
Other utility	10	13	24	25
Non-utility	26	23	48	45
Total revenues	894	912	1,925	1,990
Operating expenses:
Electric production fuel and purchased power	138	166	301	322
Electric transmission service	147	138	300	284
Cost of gas sold	25	33	139	215
Asset valuation charge for IPL’s Lansing Generating Station	60	—	60	—
Other operation and maintenance	177	163	336	338
Depreciation and amortization	188	167	376	333
Taxes other than income taxes	29	28	61	59
Total operating expenses	764	695	1,573	1,551
Operating income	130	217	352	439
Other (income) and deductions:
Interest expense	108	96	215	190
Equity income from unconsolidated investments, net	(15)	(14)	(31)	(31)
Allowance for funds used during construction	(19)	(24)	(38)	(43)
Other	2	(1)	4	2
Total other (income) and deductions	76	57	150	118
Income before income taxes	54	160	202	321
Income tax benefit	(33)	—	(43)	(2)
Net income attributable to Alliant Energy common shareowners	$87	$160	$245	$323
Weighted average number of common shares outstanding:
Basic	256.4	251.7	256.3	251.4
Diluted	256.7	251.9	256.6	251.6
Earnings per weighted average common share attributable to Alliant Energy common shareowners:
Basic	$0.34	$0.64	$0.96	$1.28
Diluted	$0.34	$0.64	$0.95	$1.28

	June 30,2024	December 31,2023
(in millions, except pershare and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$92	$62
Accounts receivable, less allowance for expected credit losses	409	475
Production fuel, at weighted average cost	65	62
Gas stored underground, at weighted average cost	52	79
Materials and supplies, at weighted average cost	206	202
Regulatory assets	212	232
Other	178	160
Total current assets	1,214	1,272
Property, plant and equipment, net	17,706	17,157
Investments:
ATC Holdings	400	386
Other	223	216
Total investments	623	602
Other assets:
Regulatory assets	2,133	2,029
Deferred charges and other	160	177
Total other assets	2,293	2,206
Total assets	$21,836	$21,237

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$804	$809
Commercial paper	52	475
Accounts payable	581	611
Regulatory liabilities	110	107
Other	307	302
Total current liabilities	1,854	2,304
Long-term debt, net (excluding current portion)	8,900	8,225
Other liabilities:
Deferred tax liabilities	2,086	2,042
Regulatory liabilities	1,026	1,023
Pension and other benefit obligations	240	249
Other	939	617
Total other liabilities	4,291	3,931
Commitments and contingencies (Note 14)
Equity:
Alliant Energy Corporation common equity:
Common stock - $0.01 par value - 480,000,000 shares authorized; 256,499,575 and 256,096,848 shares outstanding	3	3
Additional paid-in capital	3,042	3,030
Retained earnings	3,755	3,756
Accumulated other comprehensive income	3	1
Shares in deferred compensation trust - 352,514 and 379,006 shares at a weighted average cost of $35.38 and $34.48 per share	(12)	(13)
Total Alliant Energy Corporation common equity	6,791	6,777
Total liabilities and equity	$21,836	$21,237

	For the Six Months
	Ended June 30,
	2024	2023
(in millions)
Cash flows from operating activities:
Net income	$245	$323
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	376	333
Deferred tax benefit and tax credits	(47)	—
Asset valuation charge for IPL’s Lansing Generating Station	60	—
Other	(4)	(18)
Other changes in assets and liabilities:
Accounts receivable	(242)	(186)
Gas stored underground	27	63
Derivative assets	(17)	86
Regulatory assets	43	(36)
Accounts payable	75	(84)
Regulatory liabilities	(12)	(116)
Deferred income taxes (a)	86	24
Other	(28)	(78)
Net cash flows from operating activities	562	311
Cash flows used for investing activities:
Construction and acquisition expenditures:
Utility business	(870)	(758)
Other	(90)	(62)
Cash receipts on sold receivables	306	272
Proceeds from sales of partial ownership interests in West Riverside	123	120
Other	(2)	(54)
Net cash flows used for investing activities	(533)	(482)
Cash flows from financing activities:
Common stock dividends	(246)	(226)
Proceeds from issuance of common stock, net	12	76
Proceeds from issuance of long-term debt	969	862
Payments to retire long-term debt	(305)	(404)
Net change in commercial paper and other short-term borrowings	(423)	(146)
Other	(6)	(1)
Net cash flows from financing activities	1	161
Net increase (decrease) in cash, cash equivalents and restricted cash	30	(10)
Cash, cash equivalents and restricted cash at beginning of period	63	24
Cash, cash equivalents and restricted cash at end of period	$93	$14
Supplemental cash flows information:
Cash (paid) received during the period for:
Interest	($207)	($179)
Income taxes, net (a)	$89	$3
Significant non-cash investing and financing activities:
Accrued capital expenditures	$272	$300
Beneficial interest obtained in exchange for securitized accounts receivable	$171	$175

(a) 2024 includes $99 million of proceeds from renewable tax credits transferred to other corporate taxpayers

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