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

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Contents

Wisconsin 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	$433	$385	$855	$785
Gas utility	36	29	158	125
Other	—	1	1	1
Total revenues	469	415	1,014	911
Operating expenses:
Electric production fuel and purchased power	110	90	218	186
Electric transmission service	51	49	101	98
Cost of gas sold	13	8	86	62
Other operation and maintenance	72	67	137	128
Depreciation and amortization	90	87	183	178
Taxes other than income taxes	15	14	29	28
Total operating expenses	351	315	754	680
Operating income	118	100	260	231
Other (income) and deductions:
Interest expense	43	41	86	82
Allowance for funds used during construction	(10)	(8)	(19)	(17)
Other	3	—	5	2
Total other (income) and deductions	36	33	72	67
Income before income taxes	82	67	188	164
Income tax expense (benefit)	(5)	3	(10)	8
Net income	$87	$64	$198	$156

Earnings per share data is not disclosed given Alliant Energy Corporation is the sole shareowner of all shares of WPL’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	$10	$51
Accounts receivable, less allowance for expected credit losses	234	220
Production fuel, at weighted average cost	28	24
Gas stored underground, at weighted average cost	20	30
Materials and supplies, at weighted average cost	71	69
Regulatory assets	82	133
Prepaid gross receipts tax	49	51
Other	68	57
Total current assets	562	635
Property, plant and equipment, net	9,032	8,861
Other assets:
Regulatory assets	590	555
Deferred charges and other	52	55
Total other assets	642	610
Total assets	$10,236	$10,106

LIABILITIES AND EQUITY
Current liabilities:
Commercial paper	$292	$183
Accounts payable	158	209
Accrued interest	45	44
Regulatory liabilities	24	15
Other	81	94
Total current liabilities	600	545
Long-term debt, net	3,371	3,370
Other liabilities:
Deferred tax liabilities	818	865
Regulatory liabilities	521	467
Pension and other benefit obligations	88	102
Other	658	656
Total other liabilities	2,085	2,090
Commitments and contingencies (Note 12)
Equity:
Wisconsin Power and Light Company common equity:
Common stock - $5 par value - 18,000,000 shares authorized; 13,236,601 shares outstanding	66	66
Additional paid-in capital	2,533	2,533
Retained earnings	1,581	1,502
Total Wisconsin Power and Light Company common equity	4,180	4,101
Total liabilities and equity	$10,236	$10,106

	For the Six Months
	Ended June 30,
	2025	2024
(in millions)
Cash flows from operating activities:
Net income	$198	$156
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	183	178
Deferred tax benefit and tax credits	(43)	(20)
Other	(4)	(4)
Other changes in assets and liabilities:
Accounts receivable	(33)	10
Regulatory assets	18	44
Accounts payable	(9)	41
Regulatory liabilities	65	5
Other	(38)	(19)
Net cash flows from operating activities	337	391
Cash flows used for investing activities:
Construction and acquisition expenditures	(348)	(370)
Proceeds from sales of partial ownership interests in West Riverside	—	123
Other	(14)	—
Net cash flows used for investing activities	(362)	(247)
Cash flows used for financing activities:
Common stock dividends	(119)	(98)
Capital contributions from parent	—	55
Proceeds from issuance of long-term debt	—	297
Net change in commercial paper	109	(318)
Other	(6)	(7)
Net cash flows used for financing activities	(16)	(71)
Net increase (decrease) in cash, cash equivalents and restricted cash	(41)	73
Cash, cash equivalents and restricted cash at beginning of period	51	7
Cash, cash equivalents and restricted cash at end of period	$10	$80
Supplemental cash flows information:
Cash (paid) received during the period for:
Interest	($88)	($76)
Income taxes, net (a)	$8	($10)
Significant non-cash investing and financing activities:
Accrued capital expenditures	$48	$146

(a)2025 and 2024 include $24 million and $28 million, respectively, of proceeds from renewable tax credits transferred to other corporate taxpayers.

ContentsView on SEC.gov

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