ALLIANT ENERGY CORP

For the period ended Jun 30, 2025. Filed Aug 8, 2025.

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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, 2025 · Filed Aug 8, 2025

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,
	2025	2024	2025	2024
(in millions)
Revenues:
Electric utility	$418	$404	$848	$795
Gas utility	40	40	158	148
Steam and other	11	9	24	23
Total revenues	469	453	1,030	966
Operating expenses:
Electric production fuel and purchased power	40	48	107	116
Electric transmission service	100	99	207	202
Cost of gas sold	17	17	81	77
Other operation and maintenance:
Asset valuation charge for IPL’s Lansing Generating Station	—	60	—	60
Other	84	102	169	187
Depreciation and amortization	115	97	230	193
Taxes other than income taxes	15	14	29	30
Total operating expenses	371	437	823	865
Operating income	98	16	207	101
Other (income) and deductions:
Interest expense	52	42	99	84
Allowance for funds used during construction	(13)	(11)	(22)	(21)
Other	(2)	—	(2)	—
Total other (income) and deductions	37	31	75	63
Income (loss) before income taxes	61	(15)	132	38
Income tax benefit	(37)	(33)	(77)	(43)
Net income	$98	$18	$209	$81

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 30,2025	December 31,2024
(in millions, except pershare and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$204	$29
Accounts receivable, less allowance for expected credit losses	270	192
Production fuel, at weighted average cost	24	30
Gas stored underground, at weighted average cost	11	25
Materials and supplies, at weighted average cost	117	113
Regulatory assets	82	77
Other	72	43
Total current assets	780	509
Property, plant and equipment, net	9,821	9,336
Other assets:
Regulatory assets	1,533	1,509
Deferred charges and other	46	53
Total other assets	1,579	1,562
Total assets	$12,180	$11,407

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$300	$300
Commercial paper	—	50
Accounts payable	290	263
Accounts payable to associated companies	48	47
Accrued taxes	54	77
Accrued interest	50	48
Regulatory liabilities	47	54
Other	77	89
Total current liabilities	866	928
Long-term debt, net (excluding current portion)	4,384	3,790
Other liabilities:
Deferred tax liabilities	1,230	1,179
Regulatory liabilities	496	492
Pension and other benefit obligations	43	46
Other	526	511
Total other liabilities	2,295	2,228
Commitments and contingencies (Note 12)
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	3,357	3,212
Retained earnings	1,245	1,216
Total Interstate Power and Light Company common equity	4,635	4,461
Total liabilities and equity	$12,180	$11,407

	For the Six Months
	Ended June 30,
	2025	2024
(in millions)
Cash flows from operating activities:
Net income	$209	$81
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	230	193
Deferred tax benefit and tax credits	(59)	(35)
Asset valuation charge for IPL’s Lansing Generating Station	—	60
Other	(14)	7
Other changes in assets and liabilities:
Accounts receivable	(273)	(251)
Regulatory assets	(47)	(1)
Deferred income taxes (a)	98	92
Other	(36)	1
Net cash flows from operating activities	108	147
Cash flows used for investing activities:
Construction and acquisition expenditures	(628)	(500)
Cash receipts on sold receivables	198	306
Other	(11)	(15)
Net cash flows used for investing activities	(441)	(209)
Cash flows from financing activities:
Common stock dividends	(180)	(100)
Capital contributions from parent	145	125
Proceeds from issuance of long-term debt	594	—
Net change in commercial paper	(50)	—
Other	(1)	(7)
Net cash flows from financing activities	508	18
Net increase (decrease) in cash, cash equivalents and restricted cash	175	(44)
Cash, cash equivalents and restricted cash at beginning of period	29	53
Cash, cash equivalents and restricted cash at end of period	$204	$9
Supplemental cash flows information:
Cash (paid) received during the period for:
Interest	($97)	($85)
Income taxes, net (a)	$68	$92
Significant non-cash investing and financing activities:
Accrued capital expenditures	$149	$119
Beneficial interest obtained in exchange for securitized accounts receivable	$235	$171

(a)2025 and 2024 include $73 million and $71 million, respectively, of proceeds from renewable tax credits transferred to other corporate taxpayers.

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