ALLIANT ENERGY CORP
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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Sep 30, 2025 · Filed Nov 7, 2025
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. Receivables
NOTE 4. RECEIVABLES
Sales of Accounts Receivable -IPL maintains a Receivables Purchase and Sale Agreement (Receivables Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. Effective September 2025, the limit on cash proceeds under the Receivables Agreement was changed to $5 million. As of September 30, 2025, IPL had $4 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding aggregate cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program for the three and nine months ended September 30 were as follows (in millions):
| Three Months | Nine Months | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Maximum outstanding aggregate cash proceeds | $110 | $52 | $110 | $110 |
| Average outstanding aggregate cash proceeds | 28 | 7 | 65 | 34 |
The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Customer accounts receivable | $166 | $137 |
| Unbilled utility revenues | 79 | 108 |
| Other receivables | 1 | — |
| Receivables sold to third party | 246 | 245 |
| Less: cash proceeds | 1 | 70 |
| Deferred proceeds | 245 | 175 |
| Less: allowance for expected credit losses | 14 | 12 |
| Fair value of deferred proceeds | $231 | $163 |
As of September 30, 2025, outstanding receivables past due under the Receivables Agreement were $19 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and nine months ended September 30 were as follows (in millions):
| Three Months | Nine Months | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Collections | $681 | $565 | $1,732 | $1,578 |
| Write-offs, net of recoveries | 5 | 4 | 9 | 9 |
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