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$73.46+1.1%Stored close · as of Nov 9, 2026

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Contents

Interstate Power and Light Company

For the Three Months · For the Six Months
	Ended June 30,		Ended June 30,
	2024	2023	2024	2023
(in millions)
Revenues:
Electric utility	$404	$431	$795	$819
Gas utility	40	44	148	194
Steam and other	9	12	23	24
Total revenues	453	487	966	1,037
Operating expenses:
Electric production fuel and purchased power	48	66	116	113
Electric transmission service	99	96	202	201
Cost of gas sold	17	20	77	116
Asset valuation charge for IPL’s Lansing Generating Station	60	—	60	—
Other operation and maintenance	102	85	187	181
Depreciation and amortization	97	96	193	191
Taxes other than income taxes	14	14	30	29
Total operating expenses	437	377	865	831
Operating income	16	110	101	206
Other (income) and deductions:
Interest expense	42	37	84	74
Allowance for funds used during construction	(11)	(4)	(21)	(8)
Other	—	1	—	3
Total other (income) and deductions	31	34	63	69
Income (loss) before income taxes	(15)	76	38	137
Income tax benefit	(33)	(13)	(43)	(24)
Net income	$18	$89	$81	$161

Earnings per share data is not disclosed given Alliant Energy Corporation is the sole shareowner of all shares of IPL’s common stock outstanding during the periods presented.

	June 30,2024	December 31,2023
(in millions, except pershare and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$9	$53
Accounts receivable, less allowance for expected credit losses	186	242
Production fuel, at weighted average cost	36	27
Gas stored underground, at weighted average cost	18	35
Materials and supplies, at weighted average cost	123	122
Regulatory assets	84	93
Other	68	51
Total current assets	524	623
Property, plant and equipment, net	8,670	8,298
Other assets:
Regulatory assets	1,464	1,484
Deferred charges and other	74	84
Total other assets	1,538	1,568
Total assets	$10,732	$10,489

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$500	$500
Accounts payable	252	262
Accrued taxes	56	50
Accrued interest	39	40
Regulatory liabilities	62	72
Other	110	101
Total current liabilities	1,019	1,025
Long-term debt, net (excluding current portion)	3,446	3,445
Other liabilities:
Deferred tax liabilities	1,150	1,091
Regulatory liabilities	556	572
Pension and other benefit obligations	48	51
Other	433	331
Total other liabilities	2,187	2,045
Commitments and contingencies (Note 14)
Equity:
Interstate Power and Light Company common equity:
Common stock - $2.50 par value - 24,000,000 shares authorized; 13,370,788 shares outstanding	33	33
Additional paid-in capital	3,012	2,887
Retained earnings	1,035	1,054
Total Interstate Power and Light Company common equity	4,080	3,974
Total liabilities and equity	$10,732	$10,489

	For the Six Months
	Ended June 30,
	2024	2023
(in millions)
Cash flows from operating activities:
Net income	$81	$161
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	193	191
Deferred tax expense (benefit) and tax credits	(35)	5
Asset valuation charge for IPL’s Lansing Generating Station	60	—
Other	7	(3)
Other changes in assets and liabilities:
Accounts receivable	(251)	(216)
Gas stored underground	17	33
Derivative assets	(18)	43
Accounts payable	19	(32)
Regulatory liabilities	(16)	(78)
Deferred income taxes (a)	92	8
Other	(2)	(60)
Net cash flows from operating activities	147	52
Cash flows used for investing activities:
Construction and acquisition expenditures	(500)	(251)
Cash receipts on sold receivables	306	272
Other	(15)	(36)
Net cash flows used for investing activities	(209)	(15)
Cash flows from (used for) financing activities:
Common stock dividends	(100)	(140)
Capital contributions from parent	125	40
Net change in commercial paper	—	55
Other	(7)	2
Net cash flows from (used for) financing activities	18	(43)
Net decrease in cash, cash equivalents and restricted cash	(44)	(6)
Cash, cash equivalents and restricted cash at beginning of period	53	15
Cash, cash equivalents and restricted cash at end of period	$9	$9
Supplemental cash flows information:
Cash (paid) received during the period for:
Interest	($85)	($74)
Income taxes, net (a)	$92	$25
Significant non-cash investing and financing activities:
Accrued capital expenditures	$119	$95
Beneficial interest obtained in exchange for securitized accounts receivable	$171	$175

(a) 2024 includes $71 million of proceeds from renewable tax credits transferred to other corporate taxpayers

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.