ALLIANT ENERGY CORP
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 21, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
. Leases
NOTE 9. LEASES
Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. Operating lease details are as follows (dollars in millions):
| December 31, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |
| Property, plant and equipment, net | $22 | $12 | $9 | $23 | $13 | $9 |
| Other current liabilities | $2 | $1 | $1 | $2 | $1 | $1 |
| Other liabilities | 20 | 11 | 8 | 21 | 12 | 8 |
| Total operating lease liabilities | $22 | $12 | $9 | $23 | $13 | $9 |
| Weighted average remaining lease term | 11 years | 11 years | 12 years | 12 years | 12 years | 12 years |
| Weighted average discount rate | 4% | 4% | 4% | 4% | 4% | 4% |
Finance Leases -WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business. WPL is responsible for the operation of the EGU and has exclusive rights to its output. In 2024, WPL renewed this financing lease through 2044. There areno lease renewal periods remaining. For Alliant Energy, the leased Sheboygan Falls Energy Facility is eliminated upon consolidation and therefore is not reflected in Alliant Energy’s amounts below.
Related to their investments in solar generation, IPL and WPL entered into various land lease agreements with unaffiliated parties that have commenced. The leases have various terms with optional renewal periods that are assumed to be extended through the end of the estimated useful lives of the solar generating facilities. The leases do not contain purchase options and are fixed lease payments.
Finance lease details are as follows (dollars in millions):
| December 31, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| Alliant Energy | IPL | WPL | Alliant Energy | IPL | WPL | |
| Property, plant and equipment, net: | ||||||
| Sheboygan Falls Energy Facility | N/A | N/A | $74 | N/A | N/A | $79 |
| Leased land for solar generation | $189 | $53 | 136 | $172 | $33 | 139 |
| $189 | $53 | $210 | $172 | $33 | $218 | |
| Other current liabilities: | ||||||
| Sheboygan Falls Energy Facility | N/A | N/A | $7 | N/A | N/A | $11 |
| Leased land for solar generation | $— | $— | — | $— | $— | — |
| — | — | 7 | — | — | 11 | |
| Other liabilities: | ||||||
| Sheboygan Falls Energy Facility | N/A | N/A | 71 | N/A | N/A | 78 |
| Leased land for solar generation | 189 | 53 | 136 | 172 | 33 | 139 |
| 189 | 53 | 207 | 172 | 33 | 217 | |
| Total finance lease liabilities | $189 | $53 | $214 | $172 | $33 | $228 |
| Weighted average remaining lease term | 31 years | 28 years | 28 years | 33 years | 29 years | 27 years |
| Weighted average discount rate | 5% | 5% | 5% | 5% | 5% | 5% |
| Alliant Energy | IPL | WPL | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | 2024 | 2023 | 2022 | 2024 | 2023 | 2022 | |
| Depreciation and amortization expenses | $— | $1 | $— | $— | $— | $— | $4 | $6 | $6 |
| Interest expense | 8 | 6 | 3 | 2 | 1 | — | 10 | 8 | 7 |
| Total finance lease expense | $8 | $7 | $3 | $2 | $1 | $— | $14 | $14 | $13 |
Finance lease liabilities arising from obtaining leased assets, which represent non-cash financing activities, were as follows (in millions):
| Alliant Energy | IPL | WPL | ||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
| Finance lease liabilities arising from obtaining leased assets | $20 | $34 | $20 | $33 | $— | $71 |
Expected Maturities -As of December 31, 2024, expected maturities of lease liabilities were as follows (in millions):
| 2025 | 2026 | 2027 | 2028 | 2029 | Thereafter | Total | Less: amount representing interest | Present value of minimum lease payments | |
|---|---|---|---|---|---|---|---|---|---|
| Operating Leases: | |||||||||
| Alliant Energy | $3 | $3 | $3 | $3 | $2 | $14 | $28 | $6 | $22 |
| IPL | 2 | 2 | 1 | 1 | 1 | 8 | 15 | 3 | 12 |
| WPL | 1 | 1 | 1 | 1 | 1 | 7 | 12 | 3 | 9 |
| Finance Leases: | |||||||||
| Alliant Energy | 9 | 9 | 9 | 10 | 10 | 337 | 384 | 195 | 189 |
| IPL | 3 | 3 | 3 | 3 | 3 | 92 | 107 | 54 | 53 |
| WPL | 17 | 13 | 13 | 13 | 13 | 324 | 393 | 179 | 214 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.