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

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Contents

Wisconsin Power and Light Company

For the Three Months · For the Nine Months
	Ended September 30,		Ended September 30,
	2025	2024	2025	2024
(in millions)
Revenues:
Electric utility	$516	$476	$1,373	$1,261
Gas utility	24	22	181	147
Other	—	1	1	2
Total revenues	540	499	1,555	1,410
Operating expenses:
Electric production fuel and purchased power	133	112	351	298
Electric transmission service	51	49	152	148
Cost of gas sold	5	5	91	67
Other operation and maintenance	84	72	222	200
Depreciation and amortization	92	91	275	269
Taxes other than income taxes	13	14	42	41
Total operating expenses	378	343	1,133	1,023
Operating income	162	156	422	387
Other (income) and deductions:
Interest expense	43	42	129	124
Allowance for funds used during construction	(9)	(7)	(28)	(24)
Other	4	3	9	4
Total other (income) and deductions	38	38	110	104
Income before income taxes	124	118	312	283
Income tax expense (benefit)	1	4	(9)	13
Net income	$123	$114	$321	$270

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.

	September 30,2025	December 31,2024
(in millions, except pershare and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$11	$51
Accounts receivable, less allowance for expected credit losses	218	220
Production fuel, at weighted average cost	21	24
Gas stored underground, at weighted average cost	29	30
Materials and supplies, at weighted average cost	72	69
Regulatory assets	64	133
Prepaid gross receipts tax	38	51
Other	53	57
Total current assets	506	635
Property, plant and equipment, net	9,166	8,861
Other assets:
Regulatory assets	607	555
Deferred charges and other	52	55
Total other assets	659	610
Total assets	$10,331	$10,106

LIABILITIES AND EQUITY
Current liabilities:
Commercial paper	$192	$183
Accounts payable	189	209
Accrued interest	41	44
Regulatory liabilities	19	15
Other	86	94
Total current liabilities	527	545
Long-term debt, net	3,372	3,370
Other liabilities:
Deferred tax liabilities	786	865
Regulatory liabilities	557	467
Pension and other benefit obligations	85	102
Other	665	656
Total other liabilities	2,093	2,090
Commitments and contingencies (Note 13)
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	2,613	2,533
Retained earnings	1,660	1,502
Total Wisconsin Power and Light Company common equity	4,339	4,101
Total liabilities and equity	$10,331	$10,106

	For the Nine Months
	Ended September 30,
	2025	2024
(in millions)
Cash flows from operating activities:
Net income	$321	$270
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	275	269
Deferred tax benefit and tax credits	(60)	(45)
Other	(2)	(2)
Other changes in assets and liabilities:
Regulatory assets	24	62
Regulatory liabilities	96	(1)
Deferred income taxes (a)	(38)	60
Other	(43)	38
Net cash flows from operating activities	573	651
Cash flows used for investing activities:
Construction and acquisition expenditures	(511)	(578)
Proceeds from sales of partial ownership interests in West Riverside	—	123
Other	(19)	(9)
Net cash flows used for investing activities	(530)	(464)
Cash flows used for financing activities:
Common stock dividends	(163)	(147)
Capital contributions from parent	80	55
Proceeds from issuance of long-term debt	—	297
Net change in commercial paper	9	(318)
Other	(9)	(12)
Net cash flows used for financing activities	(83)	(125)
Net increase (decrease) in cash, cash equivalents and restricted cash	(40)	62
Cash, cash equivalents and restricted cash at beginning of period	51	7
Cash, cash equivalents and restricted cash at end of period	$11	$69
Supplemental cash flows information:
Cash (paid) received during the period for:
Interest	($136)	($123)
Income taxes, net (a)	($7)	$36
Significant non-cash investing and financing activities:
Accrued capital expenditures	$89	$68

(a)2025 and 2024 include $27 million and $83 million, respectively, of proceeds from renewable tax credits transferred to other corporate taxpayers.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.