ALLIANT ENERGY CORP

For the period ended Sep 30, 2025. Filed Nov 7, 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.

Sep 30, 2025 · Filed Nov 7, 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 Nine Months
	Ended September 30,		Ended September 30,
	2025	2024	2025	2024
(in millions)
Revenues:
Electric utility	$608	$523	$1,455	$1,318
Gas utility	27	27	185	175
Steam and other	12	11	36	34
Total revenues	647	561	1,676	1,527
Operating expenses:
Electric production fuel and purchased power	106	79	213	195
Electric transmission service	115	115	322	317
Cost of gas sold	7	8	89	85
Other operation and maintenance:
Asset valuation charge for IPL’s Lansing Generating Station	—	—	—	60
Other	108	96	275	281
Depreciation and amortization	116	100	346	294
Taxes other than income taxes	15	14	44	45
Total operating expenses	467	412	1,289	1,277
Operating income	180	149	387	250
Other (income) and deductions:
Interest expense	54	44	154	128
Allowance for funds used during construction	(15)	(13)	(37)	(34)
Other	(3)	(4)	(6)	(4)
Total other (income) and deductions	36	27	111	90
Income before income taxes	144	122	276	160
Income tax benefit	(21)	(68)	(98)	(112)
Net income	$165	$190	$374	$272

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 30,2025	December 31,2024
(in millions, except pershare and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$209	$29
Accounts receivable, less allowance for expected credit losses	252	192
Production fuel, at weighted average cost	16	30
Gas stored underground, at weighted average cost	26	25
Materials and supplies, at weighted average cost	111	113
Regulatory assets	68	77
Other	58	43
Total current assets	740	509
Property, plant and equipment, net	10,083	9,336
Other assets:
Regulatory assets	1,564	1,509
Deferred charges and other	46	53
Total other assets	1,610	1,562
Total assets	$12,433	$11,407

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$—	$300
Commercial paper	—	50
Accounts payable	289	263
Accounts payable to associated companies	52	47
Accrued taxes	74	77
Accrued interest	49	48
Regulatory liabilities	39	54
Other	78	89
Total current liabilities	581	928
Long-term debt, net (excluding current portion)	4,679	3,790
Other liabilities:
Deferred tax liabilities	1,235	1,179
Regulatory liabilities	519	492
Pension and other benefit obligations	42	46
Other	527	511
Total other liabilities	2,323	2,228
Commitments and contingencies (Note 13)
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	3,497	3,212
Retained earnings	1,320	1,216
Total Interstate Power and Light Company common equity	4,850	4,461
Total liabilities and equity	$12,433	$11,407

	For the Nine Months
	Ended September 30,
	2025	2024
(in millions)
Cash flows from operating activities:
Net income	$374	$272
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	346	294
Deferred tax benefit and tax credits	(81)	(64)
Asset valuation charge for IPL’s Lansing Generating Station	—	60
Other	(16)	(1)
Other changes in assets and liabilities:
Accounts receivable	(392)	(392)
Regulatory assets	(72)	(36)
Regulatory liabilities	11	(65)
Deferred income taxes (a)	134	166
Other	(15)	(3)
Net cash flows from operating activities	289	231
Cash flows used for investing activities:
Construction and acquisition expenditures	(976)	(702)
Cash receipts on sold receivables	332	399
Other	(16)	(29)
Net cash flows used for investing activities	(660)	(332)
Cash flows from financing activities:
Common stock dividends	(270)	(151)
Capital contributions from parent	285	325
Proceeds from issuance of long-term debt	888	643
Payments to retire long-term debt	(300)	—
Net change in commercial paper	(50)	—
Other	(2)	(13)
Net cash flows from financing activities	551	804
Net increase in cash, cash equivalents and restricted cash	180	703
Cash, cash equivalents and restricted cash at beginning of period	29	53
Cash, cash equivalents and restricted cash at end of period	$209	$756
Supplemental cash flows information:
Cash (paid) received during the period for:
Interest	($153)	($122)
Income taxes, net (a)	$94	$114
Significant non-cash investing and financing activities:
Accrued capital expenditures	$152	$120
Beneficial interest obtained in exchange for securitized accounts receivable	$231	$212

(a)2025 and 2024 include $90 million and $89 million, respectively, of proceeds from renewable tax credits transferred to other corporate taxpayers.

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