ALLIANT ENERGY CORP

For the period ended Sep 30, 2024. Filed Nov 1, 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.

Sep 30, 2024 · Filed Nov 1, 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 Nine Months
	Ended September 30,		Ended September 30,
	2024	2023	2024	2023
(in millions)
Revenues:
Electric utility	$523	$551	$1,318	$1,370
Gas utility	27	31	175	224
Steam and other	11	12	34	36
Total revenues	561	594	1,527	1,630
Operating expenses:
Electric production fuel and purchased power	79	99	195	213
Electric transmission service	115	115	317	316
Cost of gas sold	8	12	85	127
Other operation and maintenance:
Asset valuation charge for IPL’s Lansing Generating Station	—	—	60	—
Other	96	84	281	264
Depreciation and amortization	100	97	294	288
Taxes other than income taxes	14	14	45	43
Total operating expenses	412	421	1,277	1,251
Operating income	149	173	250	379
Other (income) and deductions:
Interest expense	44	38	128	113
Allowance for funds used during construction	(13)	(6)	(34)	(13)
Other	(4)	2	(4)	3
Total other (income) and deductions	27	34	90	103
Income before income taxes	122	139	160	276
Income tax benefit	(68)	(31)	(112)	(55)
Net income	$190	$170	$272	$331

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.

	September 30,2024	December 31,2023
(in millions, except pershare and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$756	$53
Accounts receivable, less allowance for expected credit losses	234	242
Production fuel, at weighted average cost	34	27
Gas stored underground, at weighted average cost	26	35
Materials and supplies, at weighted average cost	118	122
Regulatory assets	93	93
Other	71	51
Total current assets	1,332	623
Property, plant and equipment, net	8,801	8,298
Other assets:
Regulatory assets	1,475	1,484
Deferred charges and other	72	84
Total other assets	1,547	1,568
Total assets	$11,680	$10,489

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$800	$500
Accounts payable	240	262
Accrued taxes	61	50
Accrued interest	45	40
Regulatory liabilities	34	72
Other	93	101
Total current liabilities	1,273	1,025
Long-term debt, net (excluding current portion)	3,789	3,445
Other liabilities:
Deferred tax liabilities	1,195	1,091
Regulatory liabilities	519	572
Pension and other benefit obligations	47	51
Other	437	331
Total other liabilities	2,198	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	3,212	2,887
Retained earnings	1,175	1,054
Total Interstate Power and Light Company common equity	4,420	3,974
Total liabilities and equity	$11,680	$10,489

	For the Nine Months
	Ended September 30,
	2024	2023
(in millions)
Cash flows from operating activities:
Net income	$272	$331
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	294	288
Deferred tax benefit and tax credits	(64)	(17)
Asset valuation charge for IPL’s Lansing Generating Station	60	—
Other	(1)	(6)
Other changes in assets and liabilities:
Accounts receivable	(392)	(306)
Derivative assets	(1)	53
Regulatory assets	(36)	55
Regulatory liabilities	(65)	(90)
Deferred income taxes (a)	166	(44)
Other	(2)	(73)
Net cash flows from operating activities	231	191
Cash flows used for investing activities:
Construction and acquisition expenditures	(702)	(427)
Cash receipts on sold receivables	399	306
Other	(29)	(56)
Net cash flows used for investing activities	(332)	(177)
Cash flows from financing activities:
Common stock dividends	(151)	(210)
Capital contributions from parent	325	60
Proceeds from issuance of long-term debt	643	296
Other	(13)	13
Net cash flows from financing activities	804	159
Net increase in cash, cash equivalents and restricted cash	703	173
Cash, cash equivalents and restricted cash at beginning of period	53	15
Cash, cash equivalents and restricted cash at end of period	$756	$188
Supplemental cash flows information:
Cash (paid) received during the period for:
Interest	($122)	($107)
Income taxes, net (a)	$114	$36
Significant non-cash investing and financing activities:
Accrued capital expenditures	$120	$108
Beneficial interest obtained in exchange for securitized accounts receivable	$212	$236

(a) 2024 includes $89 million of proceeds from renewable tax credits transferred to other corporate taxpayers

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