Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2022shares | |
Entity Information [Line Items] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Mar. 31, 2022 |
Document Transition Report | false |
Entity Registrant Name | ALLIANT ENERGY CORP |
Entity Central Index Key | 0000352541 |
Entity Incorporation, State or Country Code | WI |
Entity Address, Address Line One | 4902 N. Biltmore Lane |
Entity Address, City or Town | Madison |
Entity Address, State or Province | WI |
Entity Address, Postal Zip Code | 53718 |
City Area Code | 608 |
Local Phone Number | 458-3311 |
Entity File Number | 1-9894 |
Entity Tax Identification Number | 39-1380265 |
Title of 12(b) Security | Common Stock, $0.01 Par Value |
Trading Symbol | LNT |
Security Exchange Name | NASDAQ |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 250,813,728 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q1 |
Amendment Flag | false |
IPL [Member] | |
Entity Information [Line Items] | |
Entity Registrant Name | INTERSTATE POWER & LIGHT CO |
Entity Central Index Key | 0000052485 |
Entity Incorporation, State or Country Code | IA |
Entity Address, Address Line One | Alliant Energy Tower |
Entity Address, City or Town | Cedar Rapids |
Entity Address, State or Province | IA |
Entity Address, Postal Zip Code | 52401 |
City Area Code | 319 |
Local Phone Number | 786-4411 |
Entity File Number | 1-4117 |
Entity Tax Identification Number | 42-0331370 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 13,370,788 |
WPL [Member] | |
Entity Information [Line Items] | |
Entity Registrant Name | WISCONSIN POWER & LIGHT CO |
Entity Central Index Key | 0000107832 |
Entity Incorporation, State or Country Code | WI |
Entity Address, Address Line One | 4902 N. Biltmore Lane |
Entity Address, City or Town | Madison |
Entity Address, State or Province | WI |
Entity Address, Postal Zip Code | 53718 |
City Area Code | 608 |
Local Phone Number | 458-3311 |
Entity File Number | 0-337 |
Entity Tax Identification Number | 39-0714890 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 13,236,601 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Revenues: | ||
Electric utility | $ 773 | $ 701 |
Gas utility | 262 | 170 |
Other utility | 11 | 13 |
Non-utility | 22 | 17 |
Total revenues | 1,068 | 901 |
Operating expenses: | ||
Electric production fuel and purchased power | 168 | 133 |
Electric transmission service | 138 | 134 |
Cost of gas sold | 168 | 100 |
Other operation and maintenance | 153 | 146 |
Depreciation and amortization | 166 | 164 |
Taxes other than income taxes | 27 | 26 |
Total operating expenses | 820 | 703 |
Operating income | 248 | 198 |
Other (income) and deductions: | ||
Interest expense | 74 | 69 |
Equity income from unconsolidated investments, net | (15) | (15) |
Allowance for funds used during construction | (11) | (4) |
Other | 0 | 2 |
Total other (income) and deductions | 48 | 52 |
Income before income taxes | 200 | 146 |
Income tax expense (benefit) | 8 | (28) |
Net income | 192 | 174 |
Preferred dividend requirements of Interstate Power and Light Company | 0 | 3 |
Net income attributable to common shareowners | $ 192 | $ 171 |
Weighted average number of common shares outstanding: | ||
Basic (in shares) | 250,600 | 250,000 |
Diluted (in shares) | 250,900 | 250,400 |
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic) (in dollars per share) | $ 0.77 | $ 0.68 |
Earnings per weighted average common share attributable to Alliant Energy common shareowners (diluted) (in dollars per share) | $ 0.77 | $ 0.68 |
IPL [Member] | ||
Revenues: | ||
Electric utility | $ 400 | $ 386 |
Gas utility | 139 | 91 |
Other utility | 11 | 12 |
Total revenues | 550 | 489 |
Operating expenses: | ||
Electric production fuel and purchased power | 67 | 59 |
Electric transmission service | 97 | 92 |
Cost of gas sold | 85 | 50 |
Other operation and maintenance | 83 | 77 |
Depreciation and amortization | 94 | 94 |
Taxes other than income taxes | 14 | 14 |
Total operating expenses | 440 | 386 |
Operating income | 110 | 103 |
Other (income) and deductions: | ||
Interest expense | 37 | 35 |
Allowance for funds used during construction | (3) | (2) |
Total other (income) and deductions | 34 | 33 |
Income before income taxes | 76 | 70 |
Income tax expense (benefit) | (11) | (12) |
Net income | 87 | 82 |
Preferred dividend requirements of Interstate Power and Light Company | 0 | 3 |
Net income attributable to common shareowners | 87 | 79 |
WPL [Member] | ||
Revenues: | ||
Electric utility | 373 | 315 |
Gas utility | 123 | 79 |
Other utility | 0 | 1 |
Total revenues | 496 | 395 |
Operating expenses: | ||
Electric production fuel and purchased power | 101 | 74 |
Electric transmission service | 41 | 42 |
Cost of gas sold | 83 | 50 |
Other operation and maintenance | 58 | 59 |
Depreciation and amortization | 70 | 69 |
Taxes other than income taxes | 12 | 11 |
Total operating expenses | 365 | 305 |
Operating income | 131 | 90 |
Other (income) and deductions: | ||
Interest expense | 27 | 26 |
Allowance for funds used during construction | (9) | (2) |
Other | 0 | 1 |
Total other (income) and deductions | 18 | 25 |
Income before income taxes | 113 | 65 |
Income tax expense (benefit) | 21 | (19) |
Net income | $ 92 | $ 84 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 67 | $ 39 |
Accounts receivable, less allowance for expected credit losses | 481 | 440 |
Production fuel, at weighted average cost | 39 | 51 |
Gas stored underground, at weighted average cost | 27 | 82 |
Materials and supplies, at weighted average cost | 119 | 113 |
Regulatory assets | 88 | 104 |
Other | 271 | 240 |
Total current assets | 1,092 | 1,069 |
Property, plant and equipment, net | 15,192 | 14,987 |
Investments: | ||
ATC Holdings | 346 | 338 |
Other | 187 | 179 |
Total investments | 533 | 517 |
Other assets: | ||
Regulatory assets | 1,831 | 1,836 |
Deferred charges and other | 191 | 144 |
Total other assets | 2,022 | 1,980 |
Total assets | 18,839 | 18,553 |
Current liabilities: | ||
Current maturities of long-term debt | 333 | 633 |
Commercial paper | 276 | 515 |
Accounts payable | 383 | 436 |
Accrued taxes | 66 | 58 |
Regulatory liabilities | 251 | 186 |
Other | 212 | 226 |
Total current liabilities | 1,521 | 2,054 |
Long-term debt, net (excluding current portion) | 7,383 | 6,735 |
Other liabilities: | ||
Deferred tax liabilities | 1,958 | 1,927 |
Regulatory liabilities | 1,121 | 1,085 |
Pension and other benefit obligations | 363 | 374 |
Other | 416 | 388 |
Total other liabilities | 3,858 | 3,774 |
Commitments and contingencies (Note 12) | ||
Common equity: | ||
Common stock | 3 | 3 |
Additional paid-in capital | 2,750 | 2,749 |
Retained earnings | 3,336 | 3,250 |
Shares in deferred compensation trust - 381,397 and 383,532 shares at a weighted average cost of $31.17 and $30.59 per share | (12) | (12) |
Total common equity | 6,077 | 5,990 |
Total liabilities and equity | 18,839 | 18,553 |
IPL [Member] | ||
Current assets: | ||
Cash and cash equivalents | 62 | 34 |
Accounts receivable, less allowance for expected credit losses | 257 | 241 |
Income tax refunds receivable | 25 | 8 |
Production fuel, at weighted average cost | 28 | 29 |
Gas stored underground, at weighted average cost | 11 | 40 |
Materials and supplies, at weighted average cost | 71 | 70 |
Regulatory assets | 60 | 73 |
Other | 85 | 69 |
Total current assets | 599 | 564 |
Property, plant and equipment, net | 7,976 | 7,983 |
Other assets: | ||
Regulatory assets | 1,372 | 1,370 |
Deferred charges and other | 103 | 79 |
Total other assets | 1,475 | 1,449 |
Total assets | 10,050 | 9,996 |
Current liabilities: | ||
Accounts payable | 135 | 173 |
Accounts payable to associated companies | 46 | 39 |
Accrued taxes | 57 | 56 |
Accrued interest | 35 | 36 |
Regulatory liabilities | 122 | 84 |
Other | 62 | 67 |
Total current liabilities | 457 | 455 |
Long-term debt, net (excluding current portion) | 3,644 | 3,643 |
Other liabilities: | ||
Deferred tax liabilities | 1,107 | 1,083 |
Regulatory liabilities | 632 | 607 |
Pension and other benefit obligations | 124 | 127 |
Other | 311 | 312 |
Total other liabilities | 2,174 | 2,129 |
Commitments and contingencies (Note 12) | ||
Common equity: | ||
Common stock | 33 | 33 |
Additional paid-in capital | 2,807 | 2,807 |
Retained earnings | 935 | 929 |
Total common equity | 3,775 | 3,769 |
Total liabilities and equity | 10,050 | 9,996 |
WPL [Member] | ||
Current assets: | ||
Cash and cash equivalents | 4 | 2 |
Accounts receivable, less allowance for expected credit losses | 211 | 188 |
Production fuel, at weighted average cost | 11 | 23 |
Gas stored underground, at weighted average cost | 16 | 42 |
Materials and supplies, at weighted average cost | 45 | 41 |
Regulatory assets | 28 | 31 |
Prepaid gross receipts tax | 30 | 40 |
Other | 102 | 86 |
Total current assets | 447 | 453 |
Property, plant and equipment, net | 6,747 | 6,538 |
Other assets: | ||
Regulatory assets | 459 | 466 |
Deferred charges and other | 90 | 61 |
Total other assets | 549 | 527 |
Total assets | 7,743 | 7,518 |
Current liabilities: | ||
Current maturities of long-term debt | 250 | 250 |
Commercial paper | 157 | 236 |
Accounts payable | 185 | 190 |
Accounts payable to associated companies | 34 | 39 |
Regulatory liabilities | 129 | 102 |
Other | 102 | 73 |
Total current liabilities | 857 | 890 |
Long-term debt, net (excluding current portion) | 2,180 | 2,179 |
Other liabilities: | ||
Deferred tax liabilities | 759 | 753 |
Regulatory liabilities | 489 | 478 |
Pension and other benefit obligations | 154 | 159 |
Other | 253 | 236 |
Total other liabilities | 1,655 | 1,626 |
Commitments and contingencies (Note 12) | ||
Common equity: | ||
Common stock | 66 | 66 |
Additional paid-in capital | 1,884 | 1,704 |
Retained earnings | 1,101 | 1,053 |
Total common equity | 3,051 | 2,823 |
Total liabilities and equity | $ 7,743 | $ 7,518 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 480,000,000 | 480,000,000 |
Common stock, shares outstanding (in shares) | 250,813,728 | 250,474,529 |
Shares in deferred compensation trust (in shares) | 381,397 | 383,532 |
Shares in deferred compensation trust, weighted average cost per share (in dollars per share) | $ 31.17 | $ 30.59 |
IPL [Member] | ||
Common stock, par value (in dollars per share) | $ 2.50 | $ 2.50 |
Common stock, shares authorized (in shares) | 24,000,000 | 24,000,000 |
Common stock, shares outstanding (in shares) | 13,370,788 | 13,370,788 |
WPL [Member] | ||
Common stock, par value (in dollars per share) | $ 5 | $ 5 |
Common stock, shares authorized (in shares) | 18,000,000 | 18,000,000 |
Common stock, shares outstanding (in shares) | 13,236,601 | 13,236,601 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from (used for) operating activities: | ||
Net income | $ 192 | $ 174 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 166 | 164 |
Deferred tax expense (benefit) and tax credits | 18 | (29) |
Other | (6) | 4 |
Other changes in assets and liabilities: | ||
Accounts receivable | (161) | (126) |
Gas stored underground | 55 | 20 |
Derivative assets | (85) | 6 |
Regulatory assets | 19 | (4) |
Accounts payable | (37) | (6) |
Regulatory liabilities | 92 | (60) |
Deferred income taxes | 15 | 58 |
Other | (17) | (56) |
Net cash flows from (used for) operating activities | 251 | 145 |
Cash flows from (used for) investing activities: | ||
Utility business construction and acquisition expenditures | (307) | (214) |
Other construction and acquisition expenditures | (23) | (17) |
Cash receipts on sold receivables | 115 | 209 |
Other | (8) | (16) |
Net cash flows from (used for) investing activities | (223) | (38) |
Cash flows from (used for) financing activities: | ||
Common stock dividends | (107) | (102) |
Proceeds from issuance of long-term debt | 650 | 0 |
Payments to retire long-term debt | (300) | 0 |
Net change in commercial paper | (239) | (53) |
Other | (1) | 10 |
Net cash flows from (used for) financing activities | 3 | (145) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 31 | (38) |
Cash, cash equivalents and restricted cash at beginning of period | 40 | 56 |
Cash, cash equivalents and restricted cash at end of period | 71 | 18 |
Supplemental cash flows information: | ||
Interest | (62) | (59) |
Significant non-cash investing and financing activities: | ||
Accrued capital expenditures | 134 | 64 |
Beneficial interest obtained in exchange for securitized accounts receivable | 227 | 107 |
IPL [Member] | ||
Cash flows from (used for) operating activities: | ||
Net income | 87 | 82 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 94 | 94 |
Deferred tax expense (benefit) and tax credits | 15 | (2) |
Other | (2) | (1) |
Other changes in assets and liabilities: | ||
Accounts receivable | (128) | (133) |
Income tax refunds receivable | (17) | (3) |
Gas stored underground | 29 | 12 |
Derivative assets | (43) | 10 |
Regulatory assets | 9 | (16) |
Regulatory liabilities | 59 | (19) |
Other | (14) | (69) |
Net cash flows from (used for) operating activities | 89 | (45) |
Cash flows from (used for) investing activities: | ||
Utility business construction and acquisition expenditures | (96) | (106) |
Cash receipts on sold receivables | 115 | 209 |
Other | (1) | (5) |
Net cash flows from (used for) investing activities | 18 | 98 |
Cash flows from (used for) financing activities: | ||
Common stock dividends | (81) | (101) |
Other | 2 | 9 |
Net cash flows from (used for) financing activities | (79) | (92) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 28 | (39) |
Cash, cash equivalents and restricted cash at beginning of period | 34 | 50 |
Cash, cash equivalents and restricted cash at end of period | 62 | 11 |
Supplemental cash flows information: | ||
Interest | (37) | (37) |
Income taxes, net | 0 | (7) |
Significant non-cash investing and financing activities: | ||
Accrued capital expenditures | 27 | 31 |
Beneficial interest obtained in exchange for securitized accounts receivable | 227 | 107 |
WPL [Member] | ||
Cash flows from (used for) operating activities: | ||
Net income | 92 | 84 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 70 | 69 |
Deferred tax expense (benefit) and tax credits | (2) | (28) |
Other | (3) | 4 |
Other changes in assets and liabilities: | ||
Accounts receivable | (23) | 9 |
Gas stored underground | 26 | 9 |
Derivative assets | (42) | (4) |
Accounts payable | (24) | (24) |
Regulatory liabilities | 32 | (41) |
Accrued taxes | 21 | 8 |
Deferred income taxes | 8 | 44 |
Other | 12 | 18 |
Net cash flows from (used for) operating activities | 167 | 148 |
Cash flows from (used for) investing activities: | ||
Utility business construction and acquisition expenditures | (212) | (108) |
Other | (5) | (11) |
Net cash flows from (used for) investing activities | (217) | (119) |
Cash flows from (used for) financing activities: | ||
Common stock dividends | (44) | (42) |
Capital contributions from parent | 180 | 125 |
Net change in commercial paper | (79) | (109) |
Other | (5) | (4) |
Net cash flows from (used for) financing activities | 52 | (30) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 2 | (1) |
Cash, cash equivalents and restricted cash at beginning of period | 2 | 3 |
Cash, cash equivalents and restricted cash at end of period | 4 | 2 |
Supplemental cash flows information: | ||
Interest | (23) | (21) |
Significant non-cash investing and financing activities: | ||
Accrued capital expenditures | $ 104 | $ 32 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K . In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the three months ended March 31, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022. A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. NOTE 1(b) Cash, Cash Equivalents and Restricted Cash - At March 31, 2022, Alliant Energy’s and IPL’s cash and cash equivalents included $59 million of money market fund investments, with an interest rate of 0.3%. |
IPL [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K . In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the three months ended March 31, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022. A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. NOTE 1(b) Cash, Cash Equivalents and Restricted Cash - At March 31, 2022, Alliant Energy’s and IPL’s cash and cash equivalents included $59 million of money market fund investments, with an interest rate of 0.3%. |
WPL [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K . In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the three months ended March 31, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022. A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2022 | |
Public Utilities, General Disclosures [Line Items] | |
Regulatory Matters | REGULATORY MATTERS Regulatory Assets and Regulatory Liabilities - Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $949 $934 $896 $884 $53 $50 Pension and OPEB costs 453 462 224 228 229 234 Asset retirement obligations 134 128 94 89 40 39 Assets retired early 88 92 64 66 24 26 IPL’s DAEC PPA amendment 84 90 84 90 — — WPL’s Western Wisconsin gas distribution expansion investments 50 52 — — 50 52 Commodity cost recovery 42 42 2 2 40 40 Other 119 140 68 84 51 56 $1,919 $1,940 $1,432 $1,443 $487 $497 Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $578 $585 $310 $312 $268 $273 Cost of removal obligations 391 384 256 252 135 132 Derivatives 258 166 125 77 133 89 Electric transmission cost recovery 50 51 29 27 21 24 WPL’s West Riverside liquidated damages 35 36 — — 35 36 Other 60 49 34 23 26 26 $1,372 $1,271 $754 $691 $618 $580 |
IPL [Member] | |
Public Utilities, General Disclosures [Line Items] | |
Regulatory Matters | REGULATORY MATTERS Regulatory Assets and Regulatory Liabilities - Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $949 $934 $896 $884 $53 $50 Pension and OPEB costs 453 462 224 228 229 234 Asset retirement obligations 134 128 94 89 40 39 Assets retired early 88 92 64 66 24 26 IPL’s DAEC PPA amendment 84 90 84 90 — — WPL’s Western Wisconsin gas distribution expansion investments 50 52 — — 50 52 Commodity cost recovery 42 42 2 2 40 40 Other 119 140 68 84 51 56 $1,919 $1,940 $1,432 $1,443 $487 $497 Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $578 $585 $310 $312 $268 $273 Cost of removal obligations 391 384 256 252 135 132 Derivatives 258 166 125 77 133 89 Electric transmission cost recovery 50 51 29 27 21 24 WPL’s West Riverside liquidated damages 35 36 — — 35 36 Other 60 49 34 23 26 26 $1,372 $1,271 $754 $691 $618 $580 |
WPL [Member] | |
Public Utilities, General Disclosures [Line Items] | |
Regulatory Matters | REGULATORY MATTERS Regulatory Assets and Regulatory Liabilities - Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $949 $934 $896 $884 $53 $50 Pension and OPEB costs 453 462 224 228 229 234 Asset retirement obligations 134 128 94 89 40 39 Assets retired early 88 92 64 66 24 26 IPL’s DAEC PPA amendment 84 90 84 90 — — WPL’s Western Wisconsin gas distribution expansion investments 50 52 — — 50 52 Commodity cost recovery 42 42 2 2 40 40 Other 119 140 68 84 51 56 $1,919 $1,940 $1,432 $1,443 $487 $497 Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $578 $585 $310 $312 $268 $273 Cost of removal obligations 391 384 256 252 135 132 Derivatives 258 166 125 77 133 89 Electric transmission cost recovery 50 51 29 27 21 24 WPL’s West Riverside liquidated damages 35 36 — — 35 36 Other 60 49 34 23 26 26 $1,372 $1,271 $754 $691 $618 $580 |
Receivables
Receivables | 3 Months Ended |
Mar. 31, 2022 | |
Receivables [Line Items] | |
Receivables | 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. As of March 31, 2022, IPL had $109 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions): 2022 2021 Maximum outstanding aggregate cash proceeds $36 $100 Average outstanding aggregate cash proceeds 4 30 The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): March 31, 2022 December 31, 2021 Customer accounts receivable $142 $125 Unbilled utility revenues 96 104 Receivables sold to third party 238 229 Less: cash proceeds 1 1 Deferred proceeds 237 228 Less: allowance for expected credit losses 10 14 Fair value of deferred proceeds $227 $214 As of March 31, 2022, outstanding receivables past due under the Receivables Agreement were $24 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions): 2022 2021 Collections $561 $529 Write-offs, net of recoveries 2 2 |
IPL [Member] | |
Receivables [Line Items] | |
Receivables | 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. As of March 31, 2022, IPL had $109 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions): 2022 2021 Maximum outstanding aggregate cash proceeds $36 $100 Average outstanding aggregate cash proceeds 4 30 The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): March 31, 2022 December 31, 2021 Customer accounts receivable $142 $125 Unbilled utility revenues 96 104 Receivables sold to third party 238 229 Less: cash proceeds 1 1 Deferred proceeds 237 228 Less: allowance for expected credit losses 10 14 Fair value of deferred proceeds $227 $214 As of March 31, 2022, outstanding receivables past due under the Receivables Agreement were $24 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions): 2022 2021 Collections $561 $529 Write-offs, net of recoveries 2 2 |
Investments
Investments | 3 Months Ended |
Mar. 31, 2022 | |
Schedule of Equity Method Investments [Line Items] | |
Investments | INVESTMENTS Unconsolidated Equity Investments - Alliant Energy’s equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three months ended March 31 was as follows (in millions): 2022 2021 ATC Holdings ($11) ($11) Other (4) (4) ($15) ($15) |
Common Equity
Common Equity | 3 Months Ended |
Mar. 31, 2022 | |
Common Equity [Line Items] | |
Common Equity | COMMON EQUITY Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows: Shares outstanding, January 1, 2022 250,474,529 Shareowner Direct Plan 116,431 Equity-based compensation plans 222,768 Shares outstanding, March 31, 2022 250,813,728 Changes in Shareowners’ Equity - A summary of changes in shareowners’ equity was as follows (in millions): Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Cumulative Additional Other Deferred Preferred Common Paid-In Retained Comprehensive Compensation Stock Total Stock Capital Earnings Loss Trust of IPL Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 192 192 Common stock dividends ($0.4275 per share) (107) (107) Shareowner Direct Plan issuances 7 7 Equity-based compensation plans and other (6) 1 (5) Ending balance, March 31, 2022 $3 $2,750 $3,336 $— ($12) $— $6,077 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 171 171 Common stock dividends ($0.4025 per share) (102) (102) Shareowner Direct Plan issuances 1 7 8 Equity-based compensation plans and other 1 1 Ending balance, March 31, 2021 $3 $2,712 $3,063 ($1) ($11) $200 $5,966 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 87 87 Common stock dividends (81) (81) Ending balance, March 31, 2022 $33 $2,807 $935 $— $3,775 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 79 79 Common stock dividends (101) (101) Ending balance, March 31, 2021 $33 $2,752 $957 $200 $3,942 WPL Additional Total Common Paid-In Retained Common Stock Capital Earnings Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $2,823 Net income 92 92 Common stock dividends (44) (44) Capital contributions from parent 180 180 Ending balance, March 31, 2022 $66 $1,884 $1,101 $3,051 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $2,478 Net income 84 84 Common stock dividends (42) (42) Capital contributions from parent 125 125 Ending balance, March 31, 2021 $66 $1,584 $995 $2,645 |
IPL [Member] | |
Common Equity [Line Items] | |
Common Equity | COMMON EQUITY Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows: Shares outstanding, January 1, 2022 250,474,529 Shareowner Direct Plan 116,431 Equity-based compensation plans 222,768 Shares outstanding, March 31, 2022 250,813,728 Changes in Shareowners’ Equity - A summary of changes in shareowners’ equity was as follows (in millions): Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Cumulative Additional Other Deferred Preferred Common Paid-In Retained Comprehensive Compensation Stock Total Stock Capital Earnings Loss Trust of IPL Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 192 192 Common stock dividends ($0.4275 per share) (107) (107) Shareowner Direct Plan issuances 7 7 Equity-based compensation plans and other (6) 1 (5) Ending balance, March 31, 2022 $3 $2,750 $3,336 $— ($12) $— $6,077 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 171 171 Common stock dividends ($0.4025 per share) (102) (102) Shareowner Direct Plan issuances 1 7 8 Equity-based compensation plans and other 1 1 Ending balance, March 31, 2021 $3 $2,712 $3,063 ($1) ($11) $200 $5,966 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 87 87 Common stock dividends (81) (81) Ending balance, March 31, 2022 $33 $2,807 $935 $— $3,775 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 79 79 Common stock dividends (101) (101) Ending balance, March 31, 2021 $33 $2,752 $957 $200 $3,942 WPL Additional Total Common Paid-In Retained Common Stock Capital Earnings Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $2,823 Net income 92 92 Common stock dividends (44) (44) Capital contributions from parent 180 180 Ending balance, March 31, 2022 $66 $1,884 $1,101 $3,051 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $2,478 Net income 84 84 Common stock dividends (42) (42) Capital contributions from parent 125 125 Ending balance, March 31, 2021 $66 $1,584 $995 $2,645 |
WPL [Member] | |
Common Equity [Line Items] | |
Common Equity | COMMON EQUITY Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows: Shares outstanding, January 1, 2022 250,474,529 Shareowner Direct Plan 116,431 Equity-based compensation plans 222,768 Shares outstanding, March 31, 2022 250,813,728 Changes in Shareowners’ Equity - A summary of changes in shareowners’ equity was as follows (in millions): Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Cumulative Additional Other Deferred Preferred Common Paid-In Retained Comprehensive Compensation Stock Total Stock Capital Earnings Loss Trust of IPL Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 192 192 Common stock dividends ($0.4275 per share) (107) (107) Shareowner Direct Plan issuances 7 7 Equity-based compensation plans and other (6) 1 (5) Ending balance, March 31, 2022 $3 $2,750 $3,336 $— ($12) $— $6,077 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 171 171 Common stock dividends ($0.4025 per share) (102) (102) Shareowner Direct Plan issuances 1 7 8 Equity-based compensation plans and other 1 1 Ending balance, March 31, 2021 $3 $2,712 $3,063 ($1) ($11) $200 $5,966 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 87 87 Common stock dividends (81) (81) Ending balance, March 31, 2022 $33 $2,807 $935 $— $3,775 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 79 79 Common stock dividends (101) (101) Ending balance, March 31, 2021 $33 $2,752 $957 $200 $3,942 WPL Additional Total Common Paid-In Retained Common Stock Capital Earnings Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $2,823 Net income 92 92 Common stock dividends (44) (44) Capital contributions from parent 180 180 Ending balance, March 31, 2022 $66 $1,884 $1,101 $3,051 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $2,478 Net income 84 84 Common stock dividends (42) (42) Capital contributions from parent 125 125 Ending balance, March 31, 2021 $66 $1,584 $995 $2,645 |
Debt
Debt | 3 Months Ended |
Mar. 31, 2022 | |
Debt [Line Items] | |
Debt | DEBT NOTE 6(a) Short-term Debt - Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions): March 31, 2022 Alliant Energy IPL WPL Amount outstanding $276 $— $157 Weighted average interest rates 0.6% N/A 0.5% Available credit facility capacity $724 $250 $143 Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $577 $578 $— $— $252 $275 Average amount outstanding (based on daily outstanding balances) $443 $424 $— $— $205 $189 Weighted average interest rates 0.3% 0.2% —% —% 0.3% 0.2% NOTE 6(b) Long-term Debt - In February 2022, AEF issued $350 million of 3.6% senior notes due 2032. The net proceeds from the issuance were used to reduce Alliant Energy’s outstanding commercial paper and for general corporate purposes. In March 2022, AEF entered into a $300 million variable rate (1% as of March 31, 2022) term loan credit agreement (with Alliant Energy as guarantor), which expires in March 2024, and used the borrowings under this agreement to retire its $300 million variable rate term loan credit agreement that expired in March 2022. |
IPL [Member] | |
Debt [Line Items] | |
Debt | DEBT NOTE 6(a) Short-term Debt - Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions): March 31, 2022 Alliant Energy IPL WPL Amount outstanding $276 $— $157 Weighted average interest rates 0.6% N/A 0.5% Available credit facility capacity $724 $250 $143 Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $577 $578 $— $— $252 $275 Average amount outstanding (based on daily outstanding balances) $443 $424 $— $— $205 $189 Weighted average interest rates 0.3% 0.2% —% —% 0.3% 0.2% |
WPL [Member] | |
Debt [Line Items] | |
Debt | DEBT NOTE 6(a) Short-term Debt - Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions): March 31, 2022 Alliant Energy IPL WPL Amount outstanding $276 $— $157 Weighted average interest rates 0.6% N/A 0.5% Available credit facility capacity $724 $250 $143 Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $577 $578 $— $— $252 $275 Average amount outstanding (based on daily outstanding balances) $443 $424 $— $— $205 $189 Weighted average interest rates 0.3% 0.2% —% —% 0.3% 0.2% |
Revenues
Revenues | 3 Months Ended |
Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | |
Revenues from Contracts with Customers | REVENUES Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions): Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $293 $262 $150 $139 $143 $123 Retail - commercial 188 172 118 110 70 62 Retail - industrial 211 202 111 112 100 90 Wholesale 47 40 15 11 32 29 Bulk power and other 34 25 6 14 28 11 Total Electric Utility 773 701 400 386 373 315 Gas Utility: Retail - residential 158 99 85 52 73 47 Retail - commercial 82 53 40 27 42 26 Retail - industrial 8 5 5 3 3 2 Transportation/other 14 13 9 9 5 4 Total Gas Utility 262 170 139 91 123 79 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 3 — 1 Total Other Utility 11 13 11 12 — 1 Non-Utility and Other: Travero and other 22 17 — — — — Total Non-Utility and Other 22 17 — — — — Total revenues $1,068 $901 $550 $489 $496 $395 |
IPL [Member] | |
Disaggregation of Revenue [Line Items] | |
Revenues from Contracts with Customers | REVENUES Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions): Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $293 $262 $150 $139 $143 $123 Retail - commercial 188 172 118 110 70 62 Retail - industrial 211 202 111 112 100 90 Wholesale 47 40 15 11 32 29 Bulk power and other 34 25 6 14 28 11 Total Electric Utility 773 701 400 386 373 315 Gas Utility: Retail - residential 158 99 85 52 73 47 Retail - commercial 82 53 40 27 42 26 Retail - industrial 8 5 5 3 3 2 Transportation/other 14 13 9 9 5 4 Total Gas Utility 262 170 139 91 123 79 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 3 — 1 Total Other Utility 11 13 11 12 — 1 Non-Utility and Other: Travero and other 22 17 — — — — Total Non-Utility and Other 22 17 — — — — Total revenues $1,068 $901 $550 $489 $496 $395 |
WPL [Member] | |
Disaggregation of Revenue [Line Items] | |
Revenues from Contracts with Customers | REVENUES Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions): Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $293 $262 $150 $139 $143 $123 Retail - commercial 188 172 118 110 70 62 Retail - industrial 211 202 111 112 100 90 Wholesale 47 40 15 11 32 29 Bulk power and other 34 25 6 14 28 11 Total Electric Utility 773 701 400 386 373 315 Gas Utility: Retail - residential 158 99 85 52 73 47 Retail - commercial 82 53 40 27 42 26 Retail - industrial 8 5 5 3 3 2 Transportation/other 14 13 9 9 5 4 Total Gas Utility 262 170 139 91 123 79 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 3 — 1 Total Other Utility 11 13 11 12 — 1 Non-Utility and Other: Travero and other 22 17 — — — — Total Non-Utility and Other 22 17 — — — — Total revenues $1,068 $901 $550 $489 $496 $395 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2022 | |
Income Taxes [Line Items] | |
Income Taxes | INCOME TAXES Income Tax Rates - Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three months ended March 31, 2022 compared to the same period in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Overall income tax rate 4% (19%) (14%) (17%) 19% (29%) Deferred Tax Assets and Liabilities - Carryforwards - At March 31, 2022, carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL Federal net operating losses 2037 $94 $87 $1 State net operating losses 2022-2042 578 13 2 Federal tax credits 2022-2042 589 369 197 Iowa Tax Reform - In March 2022, Iowa tax reform was enacted, which would reduce the current 9.8% Iowa corporate income tax rate beginning in 2023 if certain state income tax revenue triggers are satisfied. Annually, and by each November 1, the Iowa Department of Revenue will establish corporate income tax rates for the next tax year based on net corporate income tax receipts for the prior tax year. Rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%. Alliant Energy is currently unable to predict with certainty the timing or amount of any rate reductions. The majority of any reduction in income tax expense as a result of the lower Iowa corporate income tax rate is currently expected to reduce rates for IPL’s customers. In addition, after the 2023 corporate income tax rate is known in the fourth quarter of 2022, Alliant Energy currently expects to record a charge related to the remeasurement of accumulated deferred income tax assets at its non-utility businesses. |
IPL [Member] | |
Income Taxes [Line Items] | |
Income Taxes | INCOME TAXES Income Tax Rates - Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three months ended March 31, 2022 compared to the same period in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Overall income tax rate 4% (19%) (14%) (17%) 19% (29%) Deferred Tax Assets and Liabilities - Carryforwards - At March 31, 2022, carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL Federal net operating losses 2037 $94 $87 $1 State net operating losses 2022-2042 578 13 2 Federal tax credits 2022-2042 589 369 197 Iowa Tax Reform - In March 2022, Iowa tax reform was enacted, which would reduce the current 9.8% Iowa corporate income tax rate beginning in 2023 if certain state income tax revenue triggers are satisfied. Annually, and by each November 1, the Iowa Department of Revenue will establish corporate income tax rates for the next tax year based on net corporate income tax receipts for the prior tax year. Rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%. Alliant Energy is currently unable to predict with certainty the timing or amount of any rate reductions. The majority of any reduction in income tax expense as a result of the lower Iowa corporate income tax rate is currently expected to reduce rates for IPL’s customers. In addition, after the 2023 corporate income tax rate is known in the fourth quarter of 2022, Alliant Energy currently expects to record a charge related to the remeasurement of accumulated deferred income tax assets at its non-utility businesses. |
WPL [Member] | |
Income Taxes [Line Items] | |
Income Taxes | INCOME TAXES Income Tax Rates - Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three months ended March 31, 2022 compared to the same period in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Overall income tax rate 4% (19%) (14%) (17%) 19% (29%) Deferred Tax Assets and Liabilities - Carryforwards - At March 31, 2022, carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL Federal net operating losses 2037 $94 $87 $1 State net operating losses 2022-2042 578 13 2 Federal tax credits 2022-2042 589 369 197 Iowa Tax Reform - In March 2022, Iowa tax reform was enacted, which would reduce the current 9.8% Iowa corporate income tax rate beginning in 2023 if certain state income tax revenue triggers are satisfied. Annually, and by each November 1, the Iowa Department of Revenue will establish corporate income tax rates for the next tax year based on net corporate income tax receipts for the prior tax year. Rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%. Alliant Energy is currently unable to predict with certainty the timing or amount of any rate reductions. The majority of any reduction in income tax expense as a result of the lower Iowa corporate income tax rate is currently expected to reduce rates for IPL’s customers. In addition, after the 2023 corporate income tax rate is known in the fourth quarter of 2022, Alliant Energy currently expects to record a charge related to the remeasurement of accumulated deferred income tax assets at its non-utility businesses. |
Benefit Plans
Benefit Plans | 3 Months Ended |
Mar. 31, 2022 | |
Benefit Plans | BENEFIT PLANS NOTE 9(a) Pension and OPEB Plans - Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included below (in millions). For IPL and WPL, amounts are for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2022 2021 2022 2021 Service cost $2 $3 $1 $1 Interest cost 9 8 1 1 Expected return on plan assets (17) (17) (1) (1) Amortization of actuarial loss 8 10 1 1 $2 $4 $2 $2 Defined Benefit Pension Plans OPEB Plans IPL 2022 2021 2022 2021 Service cost $2 $2 $— $— Interest cost 4 4 1 1 Expected return on plan assets (8) (8) (1) (1) Amortization of actuarial loss 3 4 — — $1 $2 $— $— Defined Benefit Pension Plans OPEB Plans WPL 2022 2021 2022 2021 Service cost $1 $1 $— $— Interest cost 4 4 1 — Expected return on plan assets (8) (8) — — Amortization of actuarial loss 4 5 — 1 $1 $2 $1 $1 NOTE 9(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Compensation expense $4 $3 $2 $1 $2 $1 Income tax benefits 1 1 1 — — — As of March 31, 2022, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $15 million, $8 million and $6 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years. For the three months ended March 31, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards. Weighted Average Grants Grant Date Fair Value Performance shares 70,240 $54.45 Performance restricted stock units 80,252 56.62 Restricted stock units 74,360 56.62 As of March 31, 2022, 322,288 shares were included in the calculation of diluted EPS related to the nonvested equity awards. |
IPL [Member] | |
Benefit Plans | BENEFIT PLANS NOTE 9(a) Pension and OPEB Plans - Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included below (in millions). For IPL and WPL, amounts are for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2022 2021 2022 2021 Service cost $2 $3 $1 $1 Interest cost 9 8 1 1 Expected return on plan assets (17) (17) (1) (1) Amortization of actuarial loss 8 10 1 1 $2 $4 $2 $2 Defined Benefit Pension Plans OPEB Plans IPL 2022 2021 2022 2021 Service cost $2 $2 $— $— Interest cost 4 4 1 1 Expected return on plan assets (8) (8) (1) (1) Amortization of actuarial loss 3 4 — — $1 $2 $— $— Defined Benefit Pension Plans OPEB Plans WPL 2022 2021 2022 2021 Service cost $1 $1 $— $— Interest cost 4 4 1 — Expected return on plan assets (8) (8) — — Amortization of actuarial loss 4 5 — 1 $1 $2 $1 $1 NOTE 9(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Compensation expense $4 $3 $2 $1 $2 $1 Income tax benefits 1 1 1 — — — As of March 31, 2022, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $15 million, $8 million and $6 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years. For the three months ended March 31, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards. Weighted Average Grants Grant Date Fair Value Performance shares 70,240 $54.45 Performance restricted stock units 80,252 56.62 Restricted stock units 74,360 56.62 As of March 31, 2022, 322,288 shares were included in the calculation of diluted EPS related to the nonvested equity awards. |
WPL [Member] | |
Benefit Plans | BENEFIT PLANS NOTE 9(a) Pension and OPEB Plans - Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included below (in millions). For IPL and WPL, amounts are for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2022 2021 2022 2021 Service cost $2 $3 $1 $1 Interest cost 9 8 1 1 Expected return on plan assets (17) (17) (1) (1) Amortization of actuarial loss 8 10 1 1 $2 $4 $2 $2 Defined Benefit Pension Plans OPEB Plans IPL 2022 2021 2022 2021 Service cost $2 $2 $— $— Interest cost 4 4 1 1 Expected return on plan assets (8) (8) (1) (1) Amortization of actuarial loss 3 4 — — $1 $2 $— $— Defined Benefit Pension Plans OPEB Plans WPL 2022 2021 2022 2021 Service cost $1 $1 $— $— Interest cost 4 4 1 — Expected return on plan assets (8) (8) — — Amortization of actuarial loss 4 5 — 1 $1 $2 $1 $1 NOTE 9(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Compensation expense $4 $3 $2 $1 $2 $1 Income tax benefits 1 1 1 — — — As of March 31, 2022, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $15 million, $8 million and $6 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years. For the three months ended March 31, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards. Weighted Average Grants Grant Date Fair Value Performance shares 70,240 $54.45 Performance restricted stock units 80,252 56.62 Restricted stock units 74,360 56.62 As of March 31, 2022, 322,288 shares were included in the calculation of diluted EPS related to the nonvested equity awards. |
Derivative Instruments
Derivative Instruments | 3 Months Ended |
Mar. 31, 2022 | |
Derivative Instruments [Line Items] | |
Derivative Instruments | DERIVATIVE INSTRUMENTS Commodity Derivatives - Notional Amounts - As of March 31, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands): FTRs Natural Gas Coal Diesel Fuel MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 3,304 2022 175,658 2022-2030 2,653 2022-2023 2,268 2022 IPL 784 2022 94,175 2022-2030 1,053 2022-2023 — — WPL 2,520 2022 81,483 2022-2030 1,600 2022-2023 2,268 2022 Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $151 $113 $68 $48 $83 $65 Non-current derivative assets 110 63 59 36 51 27 Current derivative liabilities 6 8 3 4 3 4 Non-current derivative liabilities 1 1 1 — — 1 During the three months ended March 31, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily as a result of higher natural gas prices. Based on IPL’s and WPL’s natural gas cost recovery mechanisms, this resulted in corresponding increases in derivative regulatory liabilities on the balance sheets. Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At March 31, 2022 and December 31, 2021, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered. Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, amounts would not be materially different from gross amounts of derivative assets and derivative liabilities at March 31, 2022 and December 31, 2021. Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. |
IPL [Member] | |
Derivative Instruments [Line Items] | |
Derivative Instruments | DERIVATIVE INSTRUMENTS Commodity Derivatives - Notional Amounts - As of March 31, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands): FTRs Natural Gas Coal Diesel Fuel MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 3,304 2022 175,658 2022-2030 2,653 2022-2023 2,268 2022 IPL 784 2022 94,175 2022-2030 1,053 2022-2023 — — WPL 2,520 2022 81,483 2022-2030 1,600 2022-2023 2,268 2022 Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $151 $113 $68 $48 $83 $65 Non-current derivative assets 110 63 59 36 51 27 Current derivative liabilities 6 8 3 4 3 4 Non-current derivative liabilities 1 1 1 — — 1 During the three months ended March 31, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily as a result of higher natural gas prices. Based on IPL’s and WPL’s natural gas cost recovery mechanisms, this resulted in corresponding increases in derivative regulatory liabilities on the balance sheets. Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At March 31, 2022 and December 31, 2021, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered. Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, amounts would not be materially different from gross amounts of derivative assets and derivative liabilities at March 31, 2022 and December 31, 2021. Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. |
WPL [Member] | |
Derivative Instruments [Line Items] | |
Derivative Instruments | DERIVATIVE INSTRUMENTS Commodity Derivatives - Notional Amounts - As of March 31, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands): FTRs Natural Gas Coal Diesel Fuel MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 3,304 2022 175,658 2022-2030 2,653 2022-2023 2,268 2022 IPL 784 2022 94,175 2022-2030 1,053 2022-2023 — — WPL 2,520 2022 81,483 2022-2030 1,600 2022-2023 2,268 2022 Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $151 $113 $68 $48 $83 $65 Non-current derivative assets 110 63 59 36 51 27 Current derivative liabilities 6 8 3 4 3 4 Non-current derivative liabilities 1 1 1 — — 1 During the three months ended March 31, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily as a result of higher natural gas prices. Based on IPL’s and WPL’s natural gas cost recovery mechanisms, this resulted in corresponding increases in derivative regulatory liabilities on the balance sheets. Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided in the form of letters of credit or cash collateral up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At March 31, 2022 and December 31, 2021, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered. Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, amounts would not be materially different from gross amounts of derivative assets and derivative liabilities at March 31, 2022 and December 31, 2021. Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 261 — 251 10 261 176 — 146 30 176 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 7 — 7 — 7 9 — 8 1 9 Long-term debt (incl. current maturities) 7,716 — 7,971 1 7,972 7,368 — 8,329 1 8,330 IPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 127 — 120 7 127 84 — 65 19 84 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 4 — 4 — 4 4 — 3 1 4 Long-term debt 3,644 — 3,738 — 3,738 3,643 — 4,124 — 4,124 WPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $134 $— $131 $3 $134 $92 $— $81 $11 $92 Liabilities: Derivatives 3 — 3 — 3 5 — 5 — 5 Long-term debt (incl. current maturities) 2,430 — 2,592 — 2,592 2,429 — 2,862 — 2,862 Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (6) (6) — — Settlements (a) (13) (7) 13 (81) Ending balance, March 31 $10 $16 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($5) ($6) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (4) (5) — — Settlements (a) (7) (6) 13 (81) Ending balance, March 31 $7 $15 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($4) ($6) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2022 2021 Beginning balance, January 1 $11 $3 Total net losses included in changes in net assets (realized/unrealized) (2) (1) Settlements (6) (1) Ending balance, March 31 $3 $1 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($1) $— (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold. Commodity Contracts - The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2022 $3 $7 $3 $4 $— $3 December 31, 2021 9 20 8 10 1 10 |
IPL [Member] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 261 — 251 10 261 176 — 146 30 176 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 7 — 7 — 7 9 — 8 1 9 Long-term debt (incl. current maturities) 7,716 — 7,971 1 7,972 7,368 — 8,329 1 8,330 IPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 127 — 120 7 127 84 — 65 19 84 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 4 — 4 — 4 4 — 3 1 4 Long-term debt 3,644 — 3,738 — 3,738 3,643 — 4,124 — 4,124 WPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $134 $— $131 $3 $134 $92 $— $81 $11 $92 Liabilities: Derivatives 3 — 3 — 3 5 — 5 — 5 Long-term debt (incl. current maturities) 2,430 — 2,592 — 2,592 2,429 — 2,862 — 2,862 Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (6) (6) — — Settlements (a) (13) (7) 13 (81) Ending balance, March 31 $10 $16 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($5) ($6) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (4) (5) — — Settlements (a) (7) (6) 13 (81) Ending balance, March 31 $7 $15 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($4) ($6) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2022 2021 Beginning balance, January 1 $11 $3 Total net losses included in changes in net assets (realized/unrealized) (2) (1) Settlements (6) (1) Ending balance, March 31 $3 $1 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($1) $— (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold. Commodity Contracts - The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2022 $3 $7 $3 $4 $— $3 December 31, 2021 9 20 8 10 1 10 |
WPL [Member] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 261 — 251 10 261 176 — 146 30 176 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 7 — 7 — 7 9 — 8 1 9 Long-term debt (incl. current maturities) 7,716 — 7,971 1 7,972 7,368 — 8,329 1 8,330 IPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 127 — 120 7 127 84 — 65 19 84 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 4 — 4 — 4 4 — 3 1 4 Long-term debt 3,644 — 3,738 — 3,738 3,643 — 4,124 — 4,124 WPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $134 $— $131 $3 $134 $92 $— $81 $11 $92 Liabilities: Derivatives 3 — 3 — 3 5 — 5 — 5 Long-term debt (incl. current maturities) 2,430 — 2,592 — 2,592 2,429 — 2,862 — 2,862 Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (6) (6) — — Settlements (a) (13) (7) 13 (81) Ending balance, March 31 $10 $16 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($5) ($6) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (4) (5) — — Settlements (a) (7) (6) 13 (81) Ending balance, March 31 $7 $15 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($4) ($6) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2022 2021 Beginning balance, January 1 $11 $3 Total net losses included in changes in net assets (realized/unrealized) (2) (1) Settlements (6) (1) Ending balance, March 31 $3 $1 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($1) $— (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold. Commodity Contracts - The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2022 $3 $7 $3 $4 $— $3 December 31, 2021 9 20 8 10 1 10 |
Commitments And Contingencies
Commitments And Contingencies | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure | COMMITMENTS AND CONTINGENCIES NOTE 12(a) Capital Purchase Commitments - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects, including WPL’s expansion of solar generation. At March 31, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $214 million and $213 million, respectively. NOTE 12(b) Other Purchase Commitments - Various commodity supply, transportation and storage contracts help meet obligations to provide electricity and natural gas to utility customers. In addition, there are various purchase commitments associated with other goods and services. At March 31, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $939 $472 $467 Coal 127 72 55 Other (a) 135 66 36 $1,201 $610 $558 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2022. NOTE 12(c) Guarantees and Indemnifications - Whiting Petroleum - Whiting Petroleum is an independent oil and gas company. In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Alliant Energy Resources, LLC, as the successor to a predecessor entity that owned Whiting Petroleum, and a wholly-owned subsidiary of AEF, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under multiple general partnership agreements in the oil and gas industry. The guarantees do not include a maximum limit. Based on information made available to Alliant Energy by Whiting Petroleum, the Whiting Petroleum affiliate holds an approximate 6% share in the partnerships, and currently known obligations include costs associated with the future abandonment of certain facilities owned by the partnerships. The general partnerships were formed under California law, and Alliant Energy Resources, LLC may need to perform under the guarantees if the affiliate of Whiting Petroleum is unable to meet its partnership obligations. As of March 31, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $60 million, which represents Alliant Energy’s currently estimated maximum exposure under the guarantees. Alliant Energy estimates its expected loss to be a portion of the $60 million of known partnership abandonment obligations of the Whiting Petroleum affiliate and the other partners. Alliant Energy is not aware of any material liabilities related to these guarantees that it is probable that it will be obligated to pay; however, as of both March 31, 2022 and December 31, 2021, a liability of $5 million is recorded in “Other liabilities” on Alliant Energy’s balance sheets for expected credit losses related to the contingent obligations that are in the scope of these guarantees. Non-utility Wind Farm in Oklahoma - In 2017, a wholly-owned subsidiary of AEF acquired a cash equity ownership interest in a non-utility wind farm located in Oklahoma. The wind farm provides electricity to a third party under a long-term PPA. Alliant Energy provided a parent guarantee of its subsidiary’s indemnification obligations under the related operating agreement and PPA. Alliant Energy’s obligations under the operating agreement were $67 million as of March 31, 2022 and will reduce annually until expiring in July 2047. Alliant Energy’s obligations under the PPA are subject to a maximum limit of $17 million and expire in December 2031, subject to potential extension. Alliant Energy is not aware of any material liabilities related to this guarantee that it is probable that it will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of March 31, 2022 and December 31, 2021. NOTE 12(d) Environmental Matters - Manufactured Gas Plant (MGP) Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. At March 31, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At March 31, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $10 - $26 $7 - $20 Current and non-current environmental liabilities $12 $9 IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential Clean Air Act issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include fuel switching or retiring Prairie Creek Units 1 and 3 by December 31, 2025. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to compliance with the terms of the Consent Decree from IPL’s electric customers. Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however, future capital investments and/or modifications to EGUs and electric and gas distribution systems to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters include, among others: Effluent Limitation Guidelines, Coal Combustion Residuals Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including the Clean Air Act. NOTE 12(e) Collective Bargaining Agreements - At March 31, 2022, employees covered by collective bargaining agreements represented 55%, 70% and 83% of total employees of Alliant Energy, IPL and WPL, respectively. In May 2022, WPL’s collective bargaining agreement with International Brotherhood of Electrical Workers Local 965 expires, representing 26% and 83% of total employees of Alliant Energy and WPL, respectively. While the process to renew the agreement is underway and a tentative agreement has been reached, Alliant Energy and WPL are currently unable to predict the outcome. |
IPL [Member] | |
Commitments and Contingencies Disclosure | COMMITMENTS AND CONTINGENCIES NOTE 12(a) Capital Purchase Commitments - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects, including WPL’s expansion of solar generation. At March 31, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $214 million and $213 million, respectively. NOTE 12(b) Other Purchase Commitments - Various commodity supply, transportation and storage contracts help meet obligations to provide electricity and natural gas to utility customers. In addition, there are various purchase commitments associated with other goods and services. At March 31, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $939 $472 $467 Coal 127 72 55 Other (a) 135 66 36 $1,201 $610 $558 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2022. NOTE 12(c) Guarantees and Indemnifications - Whiting Petroleum - Whiting Petroleum is an independent oil and gas company. In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Alliant Energy Resources, LLC, as the successor to a predecessor entity that owned Whiting Petroleum, and a wholly-owned subsidiary of AEF, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under multiple general partnership agreements in the oil and gas industry. The guarantees do not include a maximum limit. Based on information made available to Alliant Energy by Whiting Petroleum, the Whiting Petroleum affiliate holds an approximate 6% share in the partnerships, and currently known obligations include costs associated with the future abandonment of certain facilities owned by the partnerships. The general partnerships were formed under California law, and Alliant Energy Resources, LLC may need to perform under the guarantees if the affiliate of Whiting Petroleum is unable to meet its partnership obligations. As of March 31, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $60 million, which represents Alliant Energy’s currently estimated maximum exposure under the guarantees. Alliant Energy estimates its expected loss to be a portion of the $60 million of known partnership abandonment obligations of the Whiting Petroleum affiliate and the other partners. Alliant Energy is not aware of any material liabilities related to these guarantees that it is probable that it will be obligated to pay; however, as of both March 31, 2022 and December 31, 2021, a liability of $5 million is recorded in “Other liabilities” on Alliant Energy’s balance sheets for expected credit losses related to the contingent obligations that are in the scope of these guarantees. Non-utility Wind Farm in Oklahoma - In 2017, a wholly-owned subsidiary of AEF acquired a cash equity ownership interest in a non-utility wind farm located in Oklahoma. The wind farm provides electricity to a third party under a long-term PPA. Alliant Energy provided a parent guarantee of its subsidiary’s indemnification obligations under the related operating agreement and PPA. Alliant Energy’s obligations under the operating agreement were $67 million as of March 31, 2022 and will reduce annually until expiring in July 2047. Alliant Energy’s obligations under the PPA are subject to a maximum limit of $17 million and expire in December 2031, subject to potential extension. Alliant Energy is not aware of any material liabilities related to this guarantee that it is probable that it will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of March 31, 2022 and December 31, 2021. NOTE 12(d) Environmental Matters - Manufactured Gas Plant (MGP) Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. At March 31, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At March 31, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $10 - $26 $7 - $20 Current and non-current environmental liabilities $12 $9 IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential Clean Air Act issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include fuel switching or retiring Prairie Creek Units 1 and 3 by December 31, 2025. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to compliance with the terms of the Consent Decree from IPL’s electric customers. Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however, future capital investments and/or modifications to EGUs and electric and gas distribution systems to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters include, among others: Effluent Limitation Guidelines, Coal Combustion Residuals Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including the Clean Air Act. NOTE 12(e) Collective Bargaining Agreements - At March 31, 2022, employees covered by collective bargaining agreements represented 55%, 70% and 83% of total employees of Alliant Energy, IPL and WPL, respectively. In May 2022, WPL’s collective bargaining agreement with International Brotherhood of Electrical Workers Local 965 expires, representing 26% and 83% of total employees of Alliant Energy and WPL, respectively. While the process to renew the agreement is underway and a tentative agreement has been reached, Alliant Energy and WPL are currently unable to predict the outcome. |
WPL [Member] | |
Commitments and Contingencies Disclosure | COMMITMENTS AND CONTINGENCIES NOTE 12(a) Capital Purchase Commitments - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects, including WPL’s expansion of solar generation. At March 31, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $214 million and $213 million, respectively. NOTE 12(b) Other Purchase Commitments - Various commodity supply, transportation and storage contracts help meet obligations to provide electricity and natural gas to utility customers. In addition, there are various purchase commitments associated with other goods and services. At March 31, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $939 $472 $467 Coal 127 72 55 Other (a) 135 66 36 $1,201 $610 $558 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2022. NOTE 12(c) Guarantees and Indemnifications - Whiting Petroleum - Whiting Petroleum is an independent oil and gas company. In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Alliant Energy Resources, LLC, as the successor to a predecessor entity that owned Whiting Petroleum, and a wholly-owned subsidiary of AEF, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under multiple general partnership agreements in the oil and gas industry. The guarantees do not include a maximum limit. Based on information made available to Alliant Energy by Whiting Petroleum, the Whiting Petroleum affiliate holds an approximate 6% share in the partnerships, and currently known obligations include costs associated with the future abandonment of certain facilities owned by the partnerships. The general partnerships were formed under California law, and Alliant Energy Resources, LLC may need to perform under the guarantees if the affiliate of Whiting Petroleum is unable to meet its partnership obligations. As of March 31, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $60 million, which represents Alliant Energy’s currently estimated maximum exposure under the guarantees. Alliant Energy estimates its expected loss to be a portion of the $60 million of known partnership abandonment obligations of the Whiting Petroleum affiliate and the other partners. Alliant Energy is not aware of any material liabilities related to these guarantees that it is probable that it will be obligated to pay; however, as of both March 31, 2022 and December 31, 2021, a liability of $5 million is recorded in “Other liabilities” on Alliant Energy’s balance sheets for expected credit losses related to the contingent obligations that are in the scope of these guarantees. Non-utility Wind Farm in Oklahoma - In 2017, a wholly-owned subsidiary of AEF acquired a cash equity ownership interest in a non-utility wind farm located in Oklahoma. The wind farm provides electricity to a third party under a long-term PPA. Alliant Energy provided a parent guarantee of its subsidiary’s indemnification obligations under the related operating agreement and PPA. Alliant Energy’s obligations under the operating agreement were $67 million as of March 31, 2022 and will reduce annually until expiring in July 2047. Alliant Energy’s obligations under the PPA are subject to a maximum limit of $17 million and expire in December 2031, subject to potential extension. Alliant Energy is not aware of any material liabilities related to this guarantee that it is probable that it will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of March 31, 2022 and December 31, 2021. NOTE 12(d) Environmental Matters - Manufactured Gas Plant (MGP) Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. At March 31, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At March 31, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $10 - $26 $7 - $20 Current and non-current environmental liabilities $12 $9 IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential Clean Air Act issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include fuel switching or retiring Prairie Creek Units 1 and 3 by December 31, 2025. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to compliance with the terms of the Consent Decree from IPL’s electric customers. Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however, future capital investments and/or modifications to EGUs and electric and gas distribution systems to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters include, among others: Effluent Limitation Guidelines, Coal Combustion Residuals Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including the Clean Air Act. NOTE 12(e) Collective Bargaining Agreements - At March 31, 2022, employees covered by collective bargaining agreements represented 55%, 70% and 83% of total employees of Alliant Energy, IPL and WPL, respectively. In May 2022, WPL’s collective bargaining agreement with International Brotherhood of Electrical Workers Local 965 expires, representing 26% and 83% of total employees of Alliant Energy and WPL, respectively. While the process to renew the agreement is underway and a tentative agreement has been reached, Alliant Energy and WPL are currently unable to predict the outcome. |
Segments Of Business
Segments Of Business | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting Information [Line Items] | |
Segments Of Business | SEGMENTS OF BUSINESS Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations. Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2022 Revenues $773 $262 $11 $1,046 $22 $1,068 Operating income 181 57 3 241 7 248 Net income attributable to Alliant Energy common shareowners 179 13 192 Three Months Ended March 31, 2021 Revenues $701 $170 $13 $884 $17 $901 Operating income 147 44 2 193 5 198 Net income attributable to Alliant Energy common shareowners 163 8 171 IPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $400 $139 $11 $550 Operating income 75 32 3 110 Net income available for common stock 87 Three Months Ended March 31, 2021 Revenues $386 $91 $12 $489 Operating income 72 30 1 103 Net income available for common stock 79 WPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $373 $123 $— $496 Operating income 106 25 — 131 Net income 92 Three Months Ended March 31, 2021 Revenues $315 $79 $1 $395 Operating income 75 14 1 90 Net income 84 |
IPL [Member] | |
Segment Reporting Information [Line Items] | |
Segments Of Business | SEGMENTS OF BUSINESS Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations. Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2022 Revenues $773 $262 $11 $1,046 $22 $1,068 Operating income 181 57 3 241 7 248 Net income attributable to Alliant Energy common shareowners 179 13 192 Three Months Ended March 31, 2021 Revenues $701 $170 $13 $884 $17 $901 Operating income 147 44 2 193 5 198 Net income attributable to Alliant Energy common shareowners 163 8 171 IPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $400 $139 $11 $550 Operating income 75 32 3 110 Net income available for common stock 87 Three Months Ended March 31, 2021 Revenues $386 $91 $12 $489 Operating income 72 30 1 103 Net income available for common stock 79 WPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $373 $123 $— $496 Operating income 106 25 — 131 Net income 92 Three Months Ended March 31, 2021 Revenues $315 $79 $1 $395 Operating income 75 14 1 90 Net income 84 |
WPL [Member] | |
Segment Reporting Information [Line Items] | |
Segments Of Business | SEGMENTS OF BUSINESS Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations. Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2022 Revenues $773 $262 $11 $1,046 $22 $1,068 Operating income 181 57 3 241 7 248 Net income attributable to Alliant Energy common shareowners 179 13 192 Three Months Ended March 31, 2021 Revenues $701 $170 $13 $884 $17 $901 Operating income 147 44 2 193 5 198 Net income attributable to Alliant Energy common shareowners 163 8 171 IPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $400 $139 $11 $550 Operating income 75 32 3 110 Net income available for common stock 87 Three Months Ended March 31, 2021 Revenues $386 $91 $12 $489 Operating income 72 30 1 103 Net income available for common stock 79 WPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $373 $123 $— $496 Operating income 106 25 — 131 Net income 92 Three Months Ended March 31, 2021 Revenues $315 $79 $1 $395 Operating income 75 14 1 90 Net income 84 |
Related Parties
Related Parties | 3 Months Ended |
Mar. 31, 2022 | |
Related Party Transactions [Line Items] | |
Related Parties | RELATED PARTIES Service Agreements - Pursuant to service agreements, IPL and WPL receive various administrative and general services from an affiliate, Corporate Services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services, depreciation and amortization of property, plant and equipment, and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2022 2021 2022 2021 Corporate Services billings $40 $40 $36 $35 Sales credited — 1 18 1 Purchases billed 94 143 22 26 Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Net payables to Corporate Services $120 $110 $76 $83 ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties for the three months ended March 31 were as follows (in millions): 2022 2021 ATC billings to WPL $34 $32 WPL billings to ATC 3 3 WPL owed ATC net amounts of $9 million as of March 31, 2022 and $10 million as of December 31, 2021. |
IPL [Member] | |
Related Party Transactions [Line Items] | |
Related Parties | RELATED PARTIES Service Agreements - Pursuant to service agreements, IPL and WPL receive various administrative and general services from an affiliate, Corporate Services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services, depreciation and amortization of property, plant and equipment, and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2022 2021 2022 2021 Corporate Services billings $40 $40 $36 $35 Sales credited — 1 18 1 Purchases billed 94 143 22 26 Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Net payables to Corporate Services $120 $110 $76 $83 |
WPL [Member] | |
Related Party Transactions [Line Items] | |
Related Parties | RELATED PARTIES Service Agreements - Pursuant to service agreements, IPL and WPL receive various administrative and general services from an affiliate, Corporate Services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services, depreciation and amortization of property, plant and equipment, and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2022 2021 2022 2021 Corporate Services billings $40 $40 $36 $35 Sales credited — 1 18 1 Purchases billed 94 143 22 26 Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Net payables to Corporate Services $120 $110 $76 $83 ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties for the three months ended March 31 were as follows (in millions): 2022 2021 ATC billings to WPL $34 $32 WPL billings to ATC 3 3 WPL owed ATC net amounts of $9 million as of March 31, 2022 and $10 million as of December 31, 2021. |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2022 | |
General, Basis of Accounting | The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K . |
General, Use of Estimates | A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. |
General, Reclassification | Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. |
Cash, Cash Equivalents and Restricted Cash | At March 31, 2022, Alliant Energy’s and IPL’s cash and cash equivalents included $59 million of money market fund investments, with an interest rate of 0.3%. |
IPL [Member] | |
General, Basis of Accounting | The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K . |
General, Use of Estimates | A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. |
General, Reclassification | Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. |
Cash, Cash Equivalents and Restricted Cash | At March 31, 2022, Alliant Energy’s and IPL’s cash and cash equivalents included $59 million of money market fund investments, with an interest rate of 0.3%. |
WPL [Member] | |
General, Basis of Accounting | The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K . |
General, Use of Estimates | A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. |
General, Reclassification | Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes. |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Regulatory Assets [Line Items] | |
Regulatory Assets | Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $949 $934 $896 $884 $53 $50 Pension and OPEB costs 453 462 224 228 229 234 Asset retirement obligations 134 128 94 89 40 39 Assets retired early 88 92 64 66 24 26 IPL’s DAEC PPA amendment 84 90 84 90 — — WPL’s Western Wisconsin gas distribution expansion investments 50 52 — — 50 52 Commodity cost recovery 42 42 2 2 40 40 Other 119 140 68 84 51 56 $1,919 $1,940 $1,432 $1,443 $487 $497 |
Regulatory Liabilities | Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $578 $585 $310 $312 $268 $273 Cost of removal obligations 391 384 256 252 135 132 Derivatives 258 166 125 77 133 89 Electric transmission cost recovery 50 51 29 27 21 24 WPL’s West Riverside liquidated damages 35 36 — — 35 36 Other 60 49 34 23 26 26 $1,372 $1,271 $754 $691 $618 $580 |
IPL [Member] | |
Regulatory Assets [Line Items] | |
Regulatory Assets | Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $949 $934 $896 $884 $53 $50 Pension and OPEB costs 453 462 224 228 229 234 Asset retirement obligations 134 128 94 89 40 39 Assets retired early 88 92 64 66 24 26 IPL’s DAEC PPA amendment 84 90 84 90 — — WPL’s Western Wisconsin gas distribution expansion investments 50 52 — — 50 52 Commodity cost recovery 42 42 2 2 40 40 Other 119 140 68 84 51 56 $1,919 $1,940 $1,432 $1,443 $487 $497 |
Regulatory Liabilities | Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $578 $585 $310 $312 $268 $273 Cost of removal obligations 391 384 256 252 135 132 Derivatives 258 166 125 77 133 89 Electric transmission cost recovery 50 51 29 27 21 24 WPL’s West Riverside liquidated damages 35 36 — — 35 36 Other 60 49 34 23 26 26 $1,372 $1,271 $754 $691 $618 $580 |
WPL [Member] | |
Regulatory Assets [Line Items] | |
Regulatory Assets | Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $949 $934 $896 $884 $53 $50 Pension and OPEB costs 453 462 224 228 229 234 Asset retirement obligations 134 128 94 89 40 39 Assets retired early 88 92 64 66 24 26 IPL’s DAEC PPA amendment 84 90 84 90 — — WPL’s Western Wisconsin gas distribution expansion investments 50 52 — — 50 52 Commodity cost recovery 42 42 2 2 40 40 Other 119 140 68 84 51 56 $1,919 $1,940 $1,432 $1,443 $487 $497 |
Regulatory Liabilities | Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Tax-related $578 $585 $310 $312 $268 $273 Cost of removal obligations 391 384 256 252 135 132 Derivatives 258 166 125 77 133 89 Electric transmission cost recovery 50 51 29 27 21 24 WPL’s West Riverside liquidated damages 35 36 — — 35 36 Other 60 49 34 23 26 26 $1,372 $1,271 $754 $691 $618 $580 |
Receivables (Tables)
Receivables (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Receivables [Line Items] | |
Maximum And Average Outstanding Cash Proceeds | IPL’s maximum and average outstanding cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions): 2022 2021 Maximum outstanding aggregate cash proceeds $36 $100 Average outstanding aggregate cash proceeds 4 30 |
Attributes of Receivables Sold Under the Receivables Agreement | The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): March 31, 2022 December 31, 2021 Customer accounts receivable $142 $125 Unbilled utility revenues 96 104 Receivables sold to third party 238 229 Less: cash proceeds 1 1 Deferred proceeds 237 228 Less: allowance for expected credit losses 10 14 Fair value of deferred proceeds $227 $214 |
Additional Attributes Of Receivables Sold Under The Receivables Agreement | Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions): 2022 2021 Collections $561 $529 Write-offs, net of recoveries 2 2 |
IPL [Member] | |
Receivables [Line Items] | |
Maximum And Average Outstanding Cash Proceeds | IPL’s maximum and average outstanding cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program for the three months ended March 31 were as follows (in millions): 2022 2021 Maximum outstanding aggregate cash proceeds $36 $100 Average outstanding aggregate cash proceeds 4 30 |
Attributes of Receivables Sold Under the Receivables Agreement | The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): March 31, 2022 December 31, 2021 Customer accounts receivable $142 $125 Unbilled utility revenues 96 104 Receivables sold to third party 238 229 Less: cash proceeds 1 1 Deferred proceeds 237 228 Less: allowance for expected credit losses 10 14 Fair value of deferred proceeds $227 $214 |
Additional Attributes Of Receivables Sold Under The Receivables Agreement | Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions): 2022 2021 Collections $561 $529 Write-offs, net of recoveries 2 2 |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Schedule of Equity Method Investments [Line Items] | |
Unconsolidated Equity Investments | Alliant Energy’s equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three months ended March 31 was as follows (in millions): 2022 2021 ATC Holdings ($11) ($11) Other (4) (4) ($15) ($15) |
Common Equity (Tables)
Common Equity (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Schedule of Capitalization, Equity [Line Items] | |
Common Share Activity | A summary of Alliant Energy’s common stock activity was as follows: Shares outstanding, January 1, 2022 250,474,529 Shareowner Direct Plan 116,431 Equity-based compensation plans 222,768 Shares outstanding, March 31, 2022 250,813,728 |
Changes in Shareowners' Equity | A summary of changes in shareowners’ equity was as follows (in millions): Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Cumulative Additional Other Deferred Preferred Common Paid-In Retained Comprehensive Compensation Stock Total Stock Capital Earnings Loss Trust of IPL Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 192 192 Common stock dividends ($0.4275 per share) (107) (107) Shareowner Direct Plan issuances 7 7 Equity-based compensation plans and other (6) 1 (5) Ending balance, March 31, 2022 $3 $2,750 $3,336 $— ($12) $— $6,077 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 171 171 Common stock dividends ($0.4025 per share) (102) (102) Shareowner Direct Plan issuances 1 7 8 Equity-based compensation plans and other 1 1 Ending balance, March 31, 2021 $3 $2,712 $3,063 ($1) ($11) $200 $5,966 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 87 87 Common stock dividends (81) (81) Ending balance, March 31, 2022 $33 $2,807 $935 $— $3,775 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 79 79 Common stock dividends (101) (101) Ending balance, March 31, 2021 $33 $2,752 $957 $200 $3,942 WPL Additional Total Common Paid-In Retained Common Stock Capital Earnings Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $2,823 Net income 92 92 Common stock dividends (44) (44) Capital contributions from parent 180 180 Ending balance, March 31, 2022 $66 $1,884 $1,101 $3,051 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $2,478 Net income 84 84 Common stock dividends (42) (42) Capital contributions from parent 125 125 Ending balance, March 31, 2021 $66 $1,584 $995 $2,645 |
IPL [Member] | |
Schedule of Capitalization, Equity [Line Items] | |
Changes in Shareowners' Equity | A summary of changes in shareowners’ equity was as follows (in millions): Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Cumulative Additional Other Deferred Preferred Common Paid-In Retained Comprehensive Compensation Stock Total Stock Capital Earnings Loss Trust of IPL Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 192 192 Common stock dividends ($0.4275 per share) (107) (107) Shareowner Direct Plan issuances 7 7 Equity-based compensation plans and other (6) 1 (5) Ending balance, March 31, 2022 $3 $2,750 $3,336 $— ($12) $— $6,077 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 171 171 Common stock dividends ($0.4025 per share) (102) (102) Shareowner Direct Plan issuances 1 7 8 Equity-based compensation plans and other 1 1 Ending balance, March 31, 2021 $3 $2,712 $3,063 ($1) ($11) $200 $5,966 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 87 87 Common stock dividends (81) (81) Ending balance, March 31, 2022 $33 $2,807 $935 $— $3,775 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 79 79 Common stock dividends (101) (101) Ending balance, March 31, 2021 $33 $2,752 $957 $200 $3,942 WPL Additional Total Common Paid-In Retained Common Stock Capital Earnings Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $2,823 Net income 92 92 Common stock dividends (44) (44) Capital contributions from parent 180 180 Ending balance, March 31, 2022 $66 $1,884 $1,101 $3,051 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $2,478 Net income 84 84 Common stock dividends (42) (42) Capital contributions from parent 125 125 Ending balance, March 31, 2021 $66 $1,584 $995 $2,645 |
WPL [Member] | |
Schedule of Capitalization, Equity [Line Items] | |
Changes in Shareowners' Equity | A summary of changes in shareowners’ equity was as follows (in millions): Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Cumulative Additional Other Deferred Preferred Common Paid-In Retained Comprehensive Compensation Stock Total Stock Capital Earnings Loss Trust of IPL Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 192 192 Common stock dividends ($0.4275 per share) (107) (107) Shareowner Direct Plan issuances 7 7 Equity-based compensation plans and other (6) 1 (5) Ending balance, March 31, 2022 $3 $2,750 $3,336 $— ($12) $— $6,077 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 171 171 Common stock dividends ($0.4025 per share) (102) (102) Shareowner Direct Plan issuances 1 7 8 Equity-based compensation plans and other 1 1 Ending balance, March 31, 2021 $3 $2,712 $3,063 ($1) ($11) $200 $5,966 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 87 87 Common stock dividends (81) (81) Ending balance, March 31, 2022 $33 $2,807 $935 $— $3,775 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 79 79 Common stock dividends (101) (101) Ending balance, March 31, 2021 $33 $2,752 $957 $200 $3,942 WPL Additional Total Common Paid-In Retained Common Stock Capital Earnings Equity Three Months Ended March 31, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $2,823 Net income 92 92 Common stock dividends (44) (44) Capital contributions from parent 180 180 Ending balance, March 31, 2022 $66 $1,884 $1,101 $3,051 Three Months Ended March 31, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $2,478 Net income 84 84 Common stock dividends (42) (42) Capital contributions from parent 125 125 Ending balance, March 31, 2021 $66 $1,584 $995 $2,645 |
Debt (Tables)
Debt (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Short-term Debt [Line Items] | |
Other Short-Term Borrowings | Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions): March 31, 2022 Alliant Energy IPL WPL Amount outstanding $276 $— $157 Weighted average interest rates 0.6% N/A 0.5% Available credit facility capacity $724 $250 $143 Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $577 $578 $— $— $252 $275 Average amount outstanding (based on daily outstanding balances) $443 $424 $— $— $205 $189 Weighted average interest rates 0.3% 0.2% —% —% 0.3% 0.2% |
IPL [Member] | |
Short-term Debt [Line Items] | |
Other Short-Term Borrowings | Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions): March 31, 2022 Alliant Energy IPL WPL Amount outstanding $276 $— $157 Weighted average interest rates 0.6% N/A 0.5% Available credit facility capacity $724 $250 $143 Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $577 $578 $— $— $252 $275 Average amount outstanding (based on daily outstanding balances) $443 $424 $— $— $205 $189 Weighted average interest rates 0.3% 0.2% —% —% 0.3% 0.2% |
WPL [Member] | |
Short-term Debt [Line Items] | |
Other Short-Term Borrowings | Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions): March 31, 2022 Alliant Energy IPL WPL Amount outstanding $276 $— $157 Weighted average interest rates 0.6% N/A 0.5% Available credit facility capacity $724 $250 $143 Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $577 $578 $— $— $252 $275 Average amount outstanding (based on daily outstanding balances) $443 $424 $— $— $205 $189 Weighted average interest rates 0.3% 0.2% —% —% 0.3% 0.2% |
Revenues (Tables)
Revenues (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions): Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $293 $262 $150 $139 $143 $123 Retail - commercial 188 172 118 110 70 62 Retail - industrial 211 202 111 112 100 90 Wholesale 47 40 15 11 32 29 Bulk power and other 34 25 6 14 28 11 Total Electric Utility 773 701 400 386 373 315 Gas Utility: Retail - residential 158 99 85 52 73 47 Retail - commercial 82 53 40 27 42 26 Retail - industrial 8 5 5 3 3 2 Transportation/other 14 13 9 9 5 4 Total Gas Utility 262 170 139 91 123 79 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 3 — 1 Total Other Utility 11 13 11 12 — 1 Non-Utility and Other: Travero and other 22 17 — — — — Total Non-Utility and Other 22 17 — — — — Total revenues $1,068 $901 $550 $489 $496 $395 |
IPL [Member] | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions): Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $293 $262 $150 $139 $143 $123 Retail - commercial 188 172 118 110 70 62 Retail - industrial 211 202 111 112 100 90 Wholesale 47 40 15 11 32 29 Bulk power and other 34 25 6 14 28 11 Total Electric Utility 773 701 400 386 373 315 Gas Utility: Retail - residential 158 99 85 52 73 47 Retail - commercial 82 53 40 27 42 26 Retail - industrial 8 5 5 3 3 2 Transportation/other 14 13 9 9 5 4 Total Gas Utility 262 170 139 91 123 79 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 3 — 1 Total Other Utility 11 13 11 12 — 1 Non-Utility and Other: Travero and other 22 17 — — — — Total Non-Utility and Other 22 17 — — — — Total revenues $1,068 $901 $550 $489 $496 $395 |
WPL [Member] | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions): Alliant Energy IPL WPL Three Months Ended March 31 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $293 $262 $150 $139 $143 $123 Retail - commercial 188 172 118 110 70 62 Retail - industrial 211 202 111 112 100 90 Wholesale 47 40 15 11 32 29 Bulk power and other 34 25 6 14 28 11 Total Electric Utility 773 701 400 386 373 315 Gas Utility: Retail - residential 158 99 85 52 73 47 Retail - commercial 82 53 40 27 42 26 Retail - industrial 8 5 5 3 3 2 Transportation/other 14 13 9 9 5 4 Total Gas Utility 262 170 139 91 123 79 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 3 — 1 Total Other Utility 11 13 11 12 — 1 Non-Utility and Other: Travero and other 22 17 — — — — Total Non-Utility and Other 22 17 — — — — Total revenues $1,068 $901 $550 $489 $496 $395 |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Income Taxes [Line Items] | |
Schedule Of Effective Income Tax Rates | Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three months ended March 31, 2022 compared to the same period in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Overall income tax rate 4% (19%) (14%) (17%) 19% (29%) |
Summary Of Tax Credit Carryforwards | At March 31, 2022, carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL Federal net operating losses 2037 $94 $87 $1 State net operating losses 2022-2042 578 13 2 Federal tax credits 2022-2042 589 369 197 |
IPL [Member] | |
Income Taxes [Line Items] | |
Schedule Of Effective Income Tax Rates | Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three months ended March 31, 2022 compared to the same period in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Overall income tax rate 4% (19%) (14%) (17%) 19% (29%) |
Summary Of Tax Credit Carryforwards | At March 31, 2022, carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL Federal net operating losses 2037 $94 $87 $1 State net operating losses 2022-2042 578 13 2 Federal tax credits 2022-2042 589 369 197 |
WPL [Member] | |
Income Taxes [Line Items] | |
Schedule Of Effective Income Tax Rates | Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three months ended March 31, 2022 compared to the same period in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Overall income tax rate 4% (19%) (14%) (17%) 19% (29%) |
Summary Of Tax Credit Carryforwards | At March 31, 2022, carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL Federal net operating losses 2037 $94 $87 $1 State net operating losses 2022-2042 578 13 2 Federal tax credits 2022-2042 589 369 197 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | |
Net Periodic Benefit Costs | The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included below (in millions). For IPL and WPL, amounts are for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2022 2021 2022 2021 Service cost $2 $3 $1 $1 Interest cost 9 8 1 1 Expected return on plan assets (17) (17) (1) (1) Amortization of actuarial loss 8 10 1 1 $2 $4 $2 $2 Defined Benefit Pension Plans OPEB Plans IPL 2022 2021 2022 2021 Service cost $2 $2 $— $— Interest cost 4 4 1 1 Expected return on plan assets (8) (8) (1) (1) Amortization of actuarial loss 3 4 — — $1 $2 $— $— Defined Benefit Pension Plans OPEB Plans WPL 2022 2021 2022 2021 Service cost $1 $1 $— $— Interest cost 4 4 1 — Expected return on plan assets (8) (8) — — Amortization of actuarial loss 4 5 — 1 $1 $2 $1 $1 |
Recognized Compensation Expense And Income Tax Benefits | A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Compensation expense $4 $3 $2 $1 $2 $1 Income tax benefits 1 1 1 — — — |
Schedule Of Equity-based Compensation Plans Activity | For the three months ended March 31, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards. Weighted Average Grants Grant Date Fair Value Performance shares 70,240 $54.45 Performance restricted stock units 80,252 56.62 Restricted stock units 74,360 56.62 |
IPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Net Periodic Benefit Costs | The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included below (in millions). For IPL and WPL, amounts are for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2022 2021 2022 2021 Service cost $2 $3 $1 $1 Interest cost 9 8 1 1 Expected return on plan assets (17) (17) (1) (1) Amortization of actuarial loss 8 10 1 1 $2 $4 $2 $2 Defined Benefit Pension Plans OPEB Plans IPL 2022 2021 2022 2021 Service cost $2 $2 $— $— Interest cost 4 4 1 1 Expected return on plan assets (8) (8) (1) (1) Amortization of actuarial loss 3 4 — — $1 $2 $— $— Defined Benefit Pension Plans OPEB Plans WPL 2022 2021 2022 2021 Service cost $1 $1 $— $— Interest cost 4 4 1 — Expected return on plan assets (8) (8) — — Amortization of actuarial loss 4 5 — 1 $1 $2 $1 $1 |
Recognized Compensation Expense And Income Tax Benefits | A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Compensation expense $4 $3 $2 $1 $2 $1 Income tax benefits 1 1 1 — — — |
Schedule Of Equity-based Compensation Plans Activity | For the three months ended March 31, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards. Weighted Average Grants Grant Date Fair Value Performance shares 70,240 $54.45 Performance restricted stock units 80,252 56.62 Restricted stock units 74,360 56.62 |
WPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Net Periodic Benefit Costs | The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three months ended March 31 are included below (in millions). For IPL and WPL, amounts are for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans. Defined Benefit Pension Plans OPEB Plans Alliant Energy 2022 2021 2022 2021 Service cost $2 $3 $1 $1 Interest cost 9 8 1 1 Expected return on plan assets (17) (17) (1) (1) Amortization of actuarial loss 8 10 1 1 $2 $4 $2 $2 Defined Benefit Pension Plans OPEB Plans IPL 2022 2021 2022 2021 Service cost $2 $2 $— $— Interest cost 4 4 1 1 Expected return on plan assets (8) (8) (1) (1) Amortization of actuarial loss 3 4 — — $1 $2 $— $— Defined Benefit Pension Plans OPEB Plans WPL 2022 2021 2022 2021 Service cost $1 $1 $— $— Interest cost 4 4 1 — Expected return on plan assets (8) (8) — — Amortization of actuarial loss 4 5 — 1 $1 $2 $1 $1 |
Recognized Compensation Expense And Income Tax Benefits | A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three months ended March 31 was as follows (in millions): Alliant Energy IPL WPL 2022 2021 2022 2021 2022 2021 Compensation expense $4 $3 $2 $1 $2 $1 Income tax benefits 1 1 1 — — — |
Schedule Of Equity-based Compensation Plans Activity | For the three months ended March 31, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards. Weighted Average Grants Grant Date Fair Value Performance shares 70,240 $54.45 Performance restricted stock units 80,252 56.62 Restricted stock units 74,360 56.62 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Derivative Instruments [Line Items] | |
Notional Amounts Of Derivative Instruments | As of March 31, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands): FTRs Natural Gas Coal Diesel Fuel MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 3,304 2022 175,658 2022-2030 2,653 2022-2023 2,268 2022 IPL 784 2022 94,175 2022-2030 1,053 2022-2023 — — WPL 2,520 2022 81,483 2022-2030 1,600 2022-2023 2,268 2022 |
Fair Value Of Financial Instruments | Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $151 $113 $68 $48 $83 $65 Non-current derivative assets 110 63 59 36 51 27 Current derivative liabilities 6 8 3 4 3 4 Non-current derivative liabilities 1 1 1 — — 1 |
IPL [Member] | |
Derivative Instruments [Line Items] | |
Notional Amounts Of Derivative Instruments | As of March 31, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands): FTRs Natural Gas Coal Diesel Fuel MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 3,304 2022 175,658 2022-2030 2,653 2022-2023 2,268 2022 IPL 784 2022 94,175 2022-2030 1,053 2022-2023 — — WPL 2,520 2022 81,483 2022-2030 1,600 2022-2023 2,268 2022 |
Fair Value Of Financial Instruments | Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $151 $113 $68 $48 $83 $65 Non-current derivative assets 110 63 59 36 51 27 Current derivative liabilities 6 8 3 4 3 4 Non-current derivative liabilities 1 1 1 — — 1 |
WPL [Member] | |
Derivative Instruments [Line Items] | |
Notional Amounts Of Derivative Instruments | As of March 31, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands): FTRs Natural Gas Coal Diesel Fuel MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 3,304 2022 175,658 2022-2030 2,653 2022-2023 2,268 2022 IPL 784 2022 94,175 2022-2030 1,053 2022-2023 — — WPL 2,520 2022 81,483 2022-2030 1,600 2022-2023 2,268 2022 |
Fair Value Of Financial Instruments | Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions): Alliant Energy IPL WPL March 31, December 31, March 31, December 31, March 31, December 31, Current derivative assets $151 $113 $68 $48 $83 $65 Non-current derivative assets 110 63 59 36 51 27 Current derivative liabilities 6 8 3 4 3 4 Non-current derivative liabilities 1 1 1 — — 1 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Statement [Line Items] | |
Fair Value Measurements | Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 261 — 251 10 261 176 — 146 30 176 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 7 — 7 — 7 9 — 8 1 9 Long-term debt (incl. current maturities) 7,716 — 7,971 1 7,972 7,368 — 8,329 1 8,330 IPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 127 — 120 7 127 84 — 65 19 84 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 4 — 4 — 4 4 — 3 1 4 Long-term debt 3,644 — 3,738 — 3,738 3,643 — 4,124 — 4,124 WPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $134 $— $131 $3 $134 $92 $— $81 $11 $92 Liabilities: Derivatives 3 — 3 — 3 5 — 5 — 5 Long-term debt (incl. current maturities) 2,430 — 2,592 — 2,592 2,429 — 2,862 — 2,862 |
Fair Value Measurements Using Significant Unobservable Inputs | Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (6) (6) — — Settlements (a) (13) (7) 13 (81) Ending balance, March 31 $10 $16 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($5) ($6) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (4) (5) — — Settlements (a) (7) (6) 13 (81) Ending balance, March 31 $7 $15 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($4) ($6) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2022 2021 Beginning balance, January 1 $11 $3 Total net losses included in changes in net assets (realized/unrealized) (2) (1) Settlements (6) (1) Ending balance, March 31 $3 $1 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($1) $— (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold. |
Fair Value Of Net Derivative Assets | The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2022 $3 $7 $3 $4 $— $3 December 31, 2021 9 20 8 10 1 10 |
IPL [Member] | |
Statement [Line Items] | |
Fair Value Measurements | Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 261 — 251 10 261 176 — 146 30 176 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 7 — 7 — 7 9 — 8 1 9 Long-term debt (incl. current maturities) 7,716 — 7,971 1 7,972 7,368 — 8,329 1 8,330 IPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 127 — 120 7 127 84 — 65 19 84 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 4 — 4 — 4 4 — 3 1 4 Long-term debt 3,644 — 3,738 — 3,738 3,643 — 4,124 — 4,124 WPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $134 $— $131 $3 $134 $92 $— $81 $11 $92 Liabilities: Derivatives 3 — 3 — 3 5 — 5 — 5 Long-term debt (incl. current maturities) 2,430 — 2,592 — 2,592 2,429 — 2,862 — 2,862 |
Fair Value Measurements Using Significant Unobservable Inputs | Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (6) (6) — — Settlements (a) (13) (7) 13 (81) Ending balance, March 31 $10 $16 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($5) ($6) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (4) (5) — — Settlements (a) (7) (6) 13 (81) Ending balance, March 31 $7 $15 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($4) ($6) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2022 2021 Beginning balance, January 1 $11 $3 Total net losses included in changes in net assets (realized/unrealized) (2) (1) Settlements (6) (1) Ending balance, March 31 $3 $1 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($1) $— (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold. |
Fair Value Of Net Derivative Assets | The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2022 $3 $7 $3 $4 $— $3 December 31, 2021 9 20 8 10 1 10 |
WPL [Member] | |
Statement [Line Items] | |
Fair Value Measurements | Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions): Alliant Energy March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 261 — 251 10 261 176 — 146 30 176 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 7 — 7 — 7 9 — 8 1 9 Long-term debt (incl. current maturities) 7,716 — 7,971 1 7,972 7,368 — 8,329 1 8,330 IPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Money market fund investments $59 $59 $— $— $59 $32 $32 $— $— $32 Derivatives 127 — 120 7 127 84 — 65 19 84 Deferred proceeds 227 — — 227 227 214 — — 214 214 Liabilities: Derivatives 4 — 4 — 4 4 — 3 1 4 Long-term debt 3,644 — 3,738 — 3,738 3,643 — 4,124 — 4,124 WPL March 31, 2022 December 31, 2021 Fair Value Fair Value Carrying Level Level Level Carrying Level Level Level Amount 1 2 3 Total Amount 1 2 3 Total Assets: Derivatives $134 $— $131 $3 $134 $92 $— $81 $11 $92 Liabilities: Derivatives 3 — 3 — 3 5 — 5 — 5 Long-term debt (incl. current maturities) 2,430 — 2,592 — 2,592 2,429 — 2,862 — 2,862 |
Fair Value Measurements Using Significant Unobservable Inputs | Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions): Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (6) (6) — — Settlements (a) (13) (7) 13 (81) Ending balance, March 31 $10 $16 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($5) ($6) $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended March 31 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (4) (5) — — Settlements (a) (7) (6) 13 (81) Ending balance, March 31 $7 $15 $227 $107 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($4) ($6) $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended March 31 2022 2021 Beginning balance, January 1 $11 $3 Total net losses included in changes in net assets (realized/unrealized) (2) (1) Settlements (6) (1) Ending balance, March 31 $3 $1 The amount of total net losses for the period included in changes in net liabilities attributable to the change in unrealized losses relating to liabilities held at March 31 ($1) $— (a) Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold. |
Fair Value Of Net Derivative Assets | The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs March 31, 2022 $3 $7 $3 $4 $— $3 December 31, 2021 9 20 8 10 1 10 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies [Line Items] | |
Other Purchase Commitments | At March 31, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $939 $472 $467 Coal 127 72 55 Other (a) 135 66 36 $1,201 $610 $558 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2022. |
MGP Site Estimated Future Costs And Recorded Liabilities | At March 31, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At March 31, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $10 - $26 $7 - $20 Current and non-current environmental liabilities $12 $9 |
IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Other Purchase Commitments | At March 31, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $939 $472 $467 Coal 127 72 55 Other (a) 135 66 36 $1,201 $610 $558 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2022. |
MGP Site Estimated Future Costs And Recorded Liabilities | At March 31, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At March 31, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $10 - $26 $7 - $20 Current and non-current environmental liabilities $12 $9 |
WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Other Purchase Commitments | At March 31, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $939 $472 $467 Coal 127 72 55 Other (a) 135 66 36 $1,201 $610 $558 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at March 31, 2022. |
Segments Of Business (Tables)
Segments Of Business (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting Information [Line Items] | |
Schedule Of Segments Of Business | Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations. Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2022 Revenues $773 $262 $11 $1,046 $22 $1,068 Operating income 181 57 3 241 7 248 Net income attributable to Alliant Energy common shareowners 179 13 192 Three Months Ended March 31, 2021 Revenues $701 $170 $13 $884 $17 $901 Operating income 147 44 2 193 5 198 Net income attributable to Alliant Energy common shareowners 163 8 171 IPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $400 $139 $11 $550 Operating income 75 32 3 110 Net income available for common stock 87 Three Months Ended March 31, 2021 Revenues $386 $91 $12 $489 Operating income 72 30 1 103 Net income available for common stock 79 WPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $373 $123 $— $496 Operating income 106 25 — 131 Net income 92 Three Months Ended March 31, 2021 Revenues $315 $79 $1 $395 Operating income 75 14 1 90 Net income 84 |
IPL [Member] | |
Segment Reporting Information [Line Items] | |
Schedule Of Segments Of Business | Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations. Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2022 Revenues $773 $262 $11 $1,046 $22 $1,068 Operating income 181 57 3 241 7 248 Net income attributable to Alliant Energy common shareowners 179 13 192 Three Months Ended March 31, 2021 Revenues $701 $170 $13 $884 $17 $901 Operating income 147 44 2 193 5 198 Net income attributable to Alliant Energy common shareowners 163 8 171 IPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $400 $139 $11 $550 Operating income 75 32 3 110 Net income available for common stock 87 Three Months Ended March 31, 2021 Revenues $386 $91 $12 $489 Operating income 72 30 1 103 Net income available for common stock 79 WPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $373 $123 $— $496 Operating income 106 25 — 131 Net income 92 Three Months Ended March 31, 2021 Revenues $315 $79 $1 $395 Operating income 75 14 1 90 Net income 84 |
WPL [Member] | |
Segment Reporting Information [Line Items] | |
Schedule Of Segments Of Business | Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations. Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Three Months Ended March 31, 2022 Revenues $773 $262 $11 $1,046 $22 $1,068 Operating income 181 57 3 241 7 248 Net income attributable to Alliant Energy common shareowners 179 13 192 Three Months Ended March 31, 2021 Revenues $701 $170 $13 $884 $17 $901 Operating income 147 44 2 193 5 198 Net income attributable to Alliant Energy common shareowners 163 8 171 IPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $400 $139 $11 $550 Operating income 75 32 3 110 Net income available for common stock 87 Three Months Ended March 31, 2021 Revenues $386 $91 $12 $489 Operating income 72 30 1 103 Net income available for common stock 79 WPL Electric Gas Other Total (in millions) Three Months Ended March 31, 2022 Revenues $373 $123 $— $496 Operating income 106 25 — 131 Net income 92 Three Months Ended March 31, 2021 Revenues $315 $79 $1 $395 Operating income 75 14 1 90 Net income 84 |
Related Parties (Tables)
Related Parties (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Related Party Transactions [Line Items] | |
Services Provided, Sales Credited And Purchases | The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2022 2021 2022 2021 Corporate Services billings $40 $40 $36 $35 Sales credited — 1 18 1 Purchases billed 94 143 22 26 |
Net Intercompany Payables | Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Net payables to Corporate Services $120 $110 $76 $83 |
Related Amounts Billed Between Parties | The related amounts billed between the parties for the three months ended March 31 were as follows (in millions): 2022 2021 ATC billings to WPL $34 $32 WPL billings to ATC 3 3 |
IPL [Member] | |
Related Party Transactions [Line Items] | |
Services Provided, Sales Credited And Purchases | The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2022 2021 2022 2021 Corporate Services billings $40 $40 $36 $35 Sales credited — 1 18 1 Purchases billed 94 143 22 26 |
Net Intercompany Payables | Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Net payables to Corporate Services $120 $110 $76 $83 |
WPL [Member] | |
Related Party Transactions [Line Items] | |
Services Provided, Sales Credited And Purchases | The amounts billed for services provided, sales credited and purchases for the three months ended March 31 were as follows (in millions): IPL WPL 2022 2021 2022 2021 Corporate Services billings $40 $40 $36 $35 Sales credited — 1 18 1 Purchases billed 94 143 22 26 |
Net Intercompany Payables | Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Net payables to Corporate Services $120 $110 $76 $83 |
Related Amounts Billed Between Parties | The related amounts billed between the parties for the three months ended March 31 were as follows (in millions): 2022 2021 ATC billings to WPL $34 $32 WPL billings to ATC 3 3 |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Money market fund investments | $ 59 | $ 32 |
Money market fund investments interest rate, percentage | 0.30% | |
IPL [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Money market fund investments | $ 59 | $ 32 |
Money market fund investments interest rate, percentage | 0.30% |
Regulatory Matters (Regulatory
Regulatory Matters (Regulatory Assets) (Details) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 1,919 | $ 1,940 |
Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 949 | 934 |
Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 453 | 462 |
Asset retirement obligations [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 134 | 128 |
Assets retired early [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 88 | 92 |
IPL's DAEC PPA amendment [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 84 | 90 |
WPL's Western Wisconsin gas distribution expansion investments [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 50 | 52 |
Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 42 | 42 |
Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 119 | 140 |
IPL [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 1,432 | 1,443 |
IPL [Member] | Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 896 | 884 |
IPL [Member] | Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 224 | 228 |
IPL [Member] | Asset retirement obligations [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 94 | 89 |
IPL [Member] | Assets retired early [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 64 | 66 |
IPL [Member] | IPL's DAEC PPA amendment [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 84 | 90 |
IPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 2 | 2 |
IPL [Member] | Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 68 | 84 |
WPL [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 487 | 497 |
WPL [Member] | Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 53 | 50 |
WPL [Member] | Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 229 | 234 |
WPL [Member] | Asset retirement obligations [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 40 | 39 |
WPL [Member] | Assets retired early [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 24 | 26 |
WPL [Member] | WPL's Western Wisconsin gas distribution expansion investments [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 50 | 52 |
WPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 40 | 40 |
WPL [Member] | Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 51 | $ 56 |
Regulatory Matters (Regulator_2
Regulatory Matters (Regulatory Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 1,372 | $ 1,271 |
Tax-related [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 578 | 585 |
Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 391 | 384 |
Derivatives [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 258 | 166 |
Electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 50 | 51 |
WPL's West Riverside liquidated damages [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 35 | 36 |
Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 60 | 49 |
IPL [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 754 | 691 |
IPL [Member] | Tax-related [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 310 | 312 |
IPL [Member] | Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 256 | 252 |
IPL [Member] | Derivatives [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 125 | 77 |
IPL [Member] | Electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 29 | 27 |
IPL [Member] | Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 34 | 23 |
WPL [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 618 | 580 |
WPL [Member] | Tax-related [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 268 | 273 |
WPL [Member] | Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 135 | 132 |
WPL [Member] | Derivatives [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 133 | 89 |
WPL [Member] | Electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 21 | 24 |
WPL [Member] | WPL's West Riverside liquidated damages [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 35 | 36 |
WPL [Member] | Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 26 | $ 26 |
Receivables (Narrative) (Detail
Receivables (Narrative) (Details) - Receivables Sold [Member] - IPL [Member] $ in Millions | Mar. 31, 2022USD ($) |
Receivables [Line Items] | |
Available capacity | $ 109 |
Financial Asset, Past Due [Member] | |
Receivables [Line Items] | |
Outstanding receivables past due | $ 24 |
Receivables (Maximum And Averag
Receivables (Maximum And Average Outstanding Cash Proceeds) (Details) - IPL [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Maximum [Member] | ||
Receivables [Line Items] | ||
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) | $ 36 | $ 100 |
Average [Member] | ||
Receivables [Line Items] | ||
Average outstanding aggregate cash proceeds (based on daily outstanding balances) | $ 4 | $ 30 |
Receivables (Receivables Sold U
Receivables (Receivables Sold Under The Agreement) (Details) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Receivables [Line Items] | ||
Fair value of deferred proceeds | $ 227 | $ 214 |
IPL [Member] | ||
Receivables [Line Items] | ||
Fair value of deferred proceeds | 227 | 214 |
Receivables Sold [Member] | IPL [Member] | ||
Receivables [Line Items] | ||
Customer accounts receivable | 142 | 125 |
Unbilled utility revenues | 96 | 104 |
Receivables sold to third party | 238 | 229 |
Less: cash proceeds | 1 | 1 |
Deferred proceeds | 237 | 228 |
Less: allowance for expected credit losses | 10 | 14 |
Fair value of deferred proceeds | $ 227 | $ 214 |
Receivables (Additional Attribu
Receivables (Additional Attributes Of Receivables Sold Under The Agreement) (Details) - IPL [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Receivables [Line Items] | ||
Collections | $ 561 | $ 529 |
Write-offs, net of recoveries | $ 2 | $ 2 |
Investments (Unconsolidated Equ
Investments (Unconsolidated Equity Investments) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Schedule of Equity Method Investments [Line Items] | ||
Equity income from unconsolidated investments, net | $ (15) | $ (15) |
ATC Holdings [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity income from unconsolidated investments, net | (11) | (11) |
Other [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity income from unconsolidated investments, net | (4) | (4) |
Totals [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity income from unconsolidated investments, net | $ (15) | $ (15) |
Common Equity (Common Share Act
Common Equity (Common Share Activity) (Details) | 3 Months Ended |
Mar. 31, 2022shares | |
Common Stock Oustanding [Roll Forward] | |
Shares outstanding, January 1, 2022 (in shares) | 250,474,529 |
Shareowner Direct Plan (in shares) | 116,431 |
Equity-based compensation plans (in shares) | 222,768 |
Shares outstanding, March 31, 2022 (in shares) | 250,813,728 |
Common Equity (Changes in Share
Common Equity (Changes in Shareowners' Equity) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | $ 5,990 | |
Beginning balance | 5,990 | $ 5,888 |
Net income attributable to common shareowners | 192 | 171 |
Net income | 192 | 174 |
Common stock dividends | (107) | (102) |
Shareowner Direct Plan issuances | 7 | 8 |
Equity-based compensation plans and other | (5) | 1 |
Ending balance | 6,077 | |
Ending balance | $ 6,077 | $ 5,966 |
Common stock dividends (in dollars per share) | $ 0.4275 | $ 0.4025 |
Common Stock [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | $ 3 | $ 2 |
Shareowner Direct Plan issuances | 1 | |
Ending balance | 3 | 3 |
Additional Paid-in Capital [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 2,749 | 2,704 |
Shareowner Direct Plan issuances | 7 | 7 |
Equity-based compensation plans and other | (6) | 1 |
Ending balance | 2,750 | 2,712 |
Retained Earnings [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 3,250 | 2,994 |
Net income attributable to common shareowners | 192 | 171 |
Common stock dividends | (107) | (102) |
Equity-based compensation plans and other | 1 | |
Ending balance | 3,336 | 3,063 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 0 | (1) |
Ending balance | 0 | (1) |
Shares in Deferred Compensation Trust [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | (12) | (11) |
Ending balance | (12) | (11) |
Cumulative Preferred Stock [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 0 | 200 |
Ending balance | 0 | 200 |
IPL [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 3,769 | |
Beginning balance | 3,769 | 3,964 |
Net income attributable to common shareowners | 87 | 79 |
Net income | 87 | 82 |
Common stock dividends | (81) | (101) |
Ending balance | 3,775 | |
Ending balance | 3,775 | 3,942 |
IPL [Member] | Common Stock [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 33 | 33 |
Ending balance | 33 | 33 |
IPL [Member] | Additional Paid-in Capital [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 2,807 | 2,752 |
Ending balance | 2,807 | 2,752 |
IPL [Member] | Retained Earnings [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 929 | 979 |
Net income attributable to common shareowners | 87 | 79 |
Common stock dividends | (81) | (101) |
Ending balance | 935 | 957 |
IPL [Member] | Cumulative Preferred Stock [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 0 | 200 |
Ending balance | 0 | 200 |
WPL [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 2,823 | |
Beginning balance | 2,823 | 2,478 |
Net income | 92 | 84 |
Common stock dividends | (44) | (42) |
Capital contributions from parent | 180 | 125 |
Ending balance | 3,051 | |
Ending balance | 3,051 | 2,645 |
WPL [Member] | Common Stock [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 66 | 66 |
Ending balance | 66 | 66 |
WPL [Member] | Additional Paid-in Capital [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 1,704 | 1,459 |
Capital contributions from parent | 180 | 125 |
Ending balance | 1,884 | 1,584 |
WPL [Member] | Retained Earnings [Member] | ||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||
Beginning balance | 1,053 | 953 |
Net income | 92 | 84 |
Common stock dividends | (44) | (42) |
Ending balance | $ 1,101 | $ 995 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Senior Notes [Member] | 3.6% senior notes, due 2032 [Member] | ||
Debt [Line Items] | ||
Long-term debt | $ 350 | |
Interest rate, percent | 3.60% | |
Term Loan Credit Agreement [Member] | Term loan credit agreement through March 2024 | ||
Debt [Line Items] | ||
Long-term debt | $ 300 | |
Interest rate, percent | 1.00% | |
Term Loan Credit Agreement [Member] | Term loan credit agreement through March 2022 | ||
Debt [Line Items] | ||
Long-term debt | $ 300 |
Debt (Credit Facilities) (Detai
Debt (Credit Facilities) (Details) $ in Millions | Mar. 31, 2022USD ($) |
Debt [Line Items] | |
Amount outstanding | $ 276 |
Weighted average interest rates | 0.60% |
Available credit facility capacity | $ 724 |
IPL [Member] | |
Debt [Line Items] | |
Amount outstanding | 0 |
Available credit facility capacity | 250 |
WPL [Member] | |
Debt [Line Items] | |
Amount outstanding | $ 157 |
Weighted average interest rates | 0.50% |
Available credit facility capacity | $ 143 |
Debt (Other Short-Term Borrowin
Debt (Other Short-Term Borrowings) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Debt [Line Items] | ||
Maximum amount outstanding (based on daily outstanding balances) | $ 577 | $ 578 |
Average amount outstanding (based on daily outstanding balances) | $ 443 | $ 424 |
Weighted average interest rates | 0.30% | 0.20% |
IPL [Member] | ||
Debt [Line Items] | ||
Maximum amount outstanding (based on daily outstanding balances) | $ 0 | $ 0 |
Average amount outstanding (based on daily outstanding balances) | $ 0 | $ 0 |
Weighted average interest rates | 0.00% | 0.00% |
WPL [Member] | ||
Debt [Line Items] | ||
Maximum amount outstanding (based on daily outstanding balances) | $ 252 | $ 275 |
Average amount outstanding (based on daily outstanding balances) | $ 205 | $ 189 |
Weighted average interest rates | 0.30% | 0.20% |
Revenue (Disaggregation of Reve
Revenue (Disaggregation of Revenues) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | $ 1,068 | $ 901 |
Electric [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 773 | 701 |
Electric [Member] | Retail - residential [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 293 | 262 |
Electric [Member] | Retail - commercial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 188 | 172 |
Electric [Member] | Retail - industrial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 211 | 202 |
Electric [Member] | Wholesale [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 47 | 40 |
Electric [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 34 | 25 |
Gas [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 262 | 170 |
Gas [Member] | Retail - residential [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 158 | 99 |
Gas [Member] | Retail - commercial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 82 | 53 |
Gas [Member] | Retail - industrial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 8 | 5 |
Gas [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 14 | 13 |
Other Utility [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 11 | 13 |
Other Utility [Member] | Steam [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 9 | 9 |
Other Utility [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 2 | 4 |
Non-utility and Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 22 | 17 |
Non-utility and Other [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 22 | 17 |
IPL [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 550 | 489 |
IPL [Member] | Electric [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 400 | 386 |
IPL [Member] | Electric [Member] | Retail - residential [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 150 | 139 |
IPL [Member] | Electric [Member] | Retail - commercial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 118 | 110 |
IPL [Member] | Electric [Member] | Retail - industrial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 111 | 112 |
IPL [Member] | Electric [Member] | Wholesale [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 15 | 11 |
IPL [Member] | Electric [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 6 | 14 |
IPL [Member] | Gas [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 139 | 91 |
IPL [Member] | Gas [Member] | Retail - residential [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 85 | 52 |
IPL [Member] | Gas [Member] | Retail - commercial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 40 | 27 |
IPL [Member] | Gas [Member] | Retail - industrial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5 | 3 |
IPL [Member] | Gas [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 9 | 9 |
IPL [Member] | Other Utility [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 11 | 12 |
IPL [Member] | Other Utility [Member] | Steam [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 9 | 9 |
IPL [Member] | Other Utility [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 2 | 3 |
WPL [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 496 | 395 |
WPL [Member] | Electric [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 373 | 315 |
WPL [Member] | Electric [Member] | Retail - residential [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 143 | 123 |
WPL [Member] | Electric [Member] | Retail - commercial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 70 | 62 |
WPL [Member] | Electric [Member] | Retail - industrial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 100 | 90 |
WPL [Member] | Electric [Member] | Wholesale [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 32 | 29 |
WPL [Member] | Electric [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 28 | 11 |
WPL [Member] | Gas [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 123 | 79 |
WPL [Member] | Gas [Member] | Retail - residential [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 73 | 47 |
WPL [Member] | Gas [Member] | Retail - commercial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 42 | 26 |
WPL [Member] | Gas [Member] | Retail - industrial [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 3 | 2 |
WPL [Member] | Gas [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5 | 4 |
WPL [Member] | Other Utility [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 0 | 1 |
WPL [Member] | Other Utility [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | $ 0 | $ 1 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2023 | |
Income Taxes [Line Items] | ||
State income tax rate, percent | 9.80% | |
Forecast [Member] | ||
Income Taxes [Line Items] | ||
State income tax rate, percent | 5.50% |
Income Taxes (Schedule Of Effec
Income Taxes (Schedule Of Effective Income Tax Rates) (Details) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Effective Tax Rate [Line Items] | ||
Overall income tax rate | 4.00% | (19.00%) |
IPL [Member] | ||
Effective Tax Rate [Line Items] | ||
Overall income tax rate | (14.00%) | (17.00%) |
WPL [Member] | ||
Effective Tax Rate [Line Items] | ||
Overall income tax rate | 19.00% | (29.00%) |
Income Taxes (Summary Of Tax Cr
Income Taxes (Summary Of Tax Credit Carryforwards) (Details) $ in Millions | Mar. 31, 2022USD ($) |
Federal [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | $ 94 |
Tax credits, carryforward amount | 589 |
State [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 578 |
IPL [Member] | Federal [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 87 |
Tax credits, carryforward amount | 369 |
IPL [Member] | State [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 13 |
WPL [Member] | Federal [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 1 |
Tax credits, carryforward amount | 197 |
WPL [Member] | State [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | $ 2 |
Benefit Plans (Narrative) (Deta
Benefit Plans (Narrative) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2022USD ($)shares | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost | $ 15 |
Minimum [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost recognized over a weighted average period | 1 year |
Maximum [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost recognized over a weighted average period | 2 years |
IPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost | $ 8 |
WPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost | $ 6 |
Omnibus Incentive Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Shares included in diluted earnings per share (in shares) | shares | 322,288 |
Benefit Plans (Defined Benefit
Benefit Plans (Defined Benefit Pension And Other Postretirement Benefits Plans) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Defined benefit pension plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 2 | $ 3 |
Interest cost | 9 | 8 |
Expected return on plan assets | (17) | (17) |
Amortization of actuarial loss | 8 | 10 |
Total | 2 | 4 |
OPEB Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1 | 1 |
Interest cost | 1 | 1 |
Expected return on plan assets | (1) | (1) |
Amortization of actuarial loss | 1 | 1 |
Total | 2 | 2 |
IPL [Member] | Defined benefit pension plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 2 | 2 |
Interest cost | 4 | 4 |
Expected return on plan assets | (8) | (8) |
Amortization of actuarial loss | 3 | 4 |
Total | 1 | 2 |
IPL [Member] | OPEB Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 0 | 0 |
Interest cost | 1 | 1 |
Expected return on plan assets | (1) | (1) |
Amortization of actuarial loss | 0 | 0 |
Total | 0 | 0 |
WPL [Member] | Defined benefit pension plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1 | 1 |
Interest cost | 4 | 4 |
Expected return on plan assets | (8) | (8) |
Amortization of actuarial loss | 4 | 5 |
Total | 1 | 2 |
WPL [Member] | OPEB Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 0 | 0 |
Interest cost | 1 | 0 |
Expected return on plan assets | 0 | 0 |
Amortization of actuarial loss | 0 | 1 |
Total | $ 1 | $ 1 |
Benefit Plans (Recognized Compe
Benefit Plans (Recognized Compensation Expense And Income Tax Benefits) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Compensation expense | $ 4 | $ 3 |
Income tax benefits | 1 | 1 |
IPL [Member] | ||
Compensation expense | 2 | 1 |
Income tax benefits | 1 | 0 |
WPL [Member] | ||
Compensation expense | 2 | 1 |
Income tax benefits | $ 0 | $ 0 |
Benefit Plans (Summary Of Equit
Benefit Plans (Summary Of Equity-based Compensation Plans Grants) (Details) | 3 Months Ended |
Mar. 31, 2022$ / sharesshares | |
Performance Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grants (in shares/units) | shares | 70,240 |
Weighted average grant date fair value (in dollars per share/unit) | $ / shares | $ 54.45 |
Performance Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grants (in shares/units) | shares | 80,252 |
Weighted average grant date fair value (in dollars per share/unit) | $ / shares | $ 56.62 |
Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grants (in shares/units) | shares | 74,360 |
Weighted average grant date fair value (in dollars per share/unit) | $ / shares | $ 56.62 |
Derivative Instruments (Notiona
Derivative Instruments (Notional Amounts Of Derivative Instruments) (Details) - Commodity [Member] gal in Thousands, T in Thousands, MWh in Thousands, Dekatherms in Thousands | 3 Months Ended |
Mar. 31, 2022DekathermsMWhTgal | |
FTRs (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | MWh | 3,304 |
FTRs (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | MWh | 784 |
FTRs (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | MWh | 2,520 |
Natural Gas (Dths) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Dths) | Dekatherms | 175,658 |
Natural Gas (Dths) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Dths) | Dekatherms | 94,175 |
Natural Gas (Dths) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Dths) | Dekatherms | 81,483 |
Coal (Tons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Tons) | T | 2,653 |
Coal (Tons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Tons) | T | 1,053 |
Coal (Tons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Tons) | T | 1,600 |
Diesel Fuel (Gallons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Gallons) | gal | 2,268 |
Diesel Fuel (Gallons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Gallons) | gal | 0 |
Diesel Fuel (Gallons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Gallons) | gal | 2,268 |
Derivative Instruments (Fair Va
Derivative Instruments (Fair Value Of Financial Instruments) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | $ 151 | $ 113 |
Non-current derivative assets | 110 | 63 |
Current derivative liabilities | 6 | 8 |
Non-current derivative liabilities | 1 | 1 |
IPL [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | 68 | 48 |
Non-current derivative assets | 59 | 36 |
Current derivative liabilities | 3 | 4 |
Non-current derivative liabilities | 1 | 0 |
WPL [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | 83 | 65 |
Non-current derivative assets | 51 | 27 |
Current derivative liabilities | 3 | 4 |
Non-current derivative liabilities | $ 0 | $ 1 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurements) (Details) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Assets: | ||
Money market fund investments | $ 59 | $ 32 |
Deferred proceeds | 227 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 7,972 | 8,330 |
IPL [Member] | ||
Assets: | ||
Money market fund investments | 59 | 32 |
Deferred proceeds | 227 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 3,738 | 4,124 |
WPL [Member] | ||
Liabilities: | ||
Long-term debt (incl. current maturities) | 2,592 | 2,862 |
Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 261 | 176 |
Liabilities: | ||
Derivatives | 7 | 9 |
Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 127 | 84 |
Liabilities: | ||
Derivatives | 4 | 4 |
Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 134 | 92 |
Liabilities: | ||
Derivatives | 3 | 5 |
Level 1 [Member] | ||
Assets: | ||
Money market fund investments | 59 | 32 |
Deferred proceeds | 0 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 0 | 0 |
Level 1 [Member] | IPL [Member] | ||
Assets: | ||
Money market fund investments | 59 | 32 |
Deferred proceeds | 0 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 0 | 0 |
Level 1 [Member] | WPL [Member] | ||
Liabilities: | ||
Long-term debt (incl. current maturities) | 0 | 0 |
Level 1 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 0 | 0 |
Liabilities: | ||
Derivatives | 0 | 0 |
Level 1 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 0 | 0 |
Liabilities: | ||
Derivatives | 0 | 0 |
Level 1 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 0 | 0 |
Liabilities: | ||
Derivatives | 0 | 0 |
Level 2 [Member] | ||
Assets: | ||
Money market fund investments | 0 | 0 |
Deferred proceeds | 0 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 7,971 | 8,329 |
Level 2 [Member] | IPL [Member] | ||
Assets: | ||
Money market fund investments | 0 | 0 |
Deferred proceeds | 0 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 3,738 | 4,124 |
Level 2 [Member] | WPL [Member] | ||
Liabilities: | ||
Long-term debt (incl. current maturities) | 2,592 | 2,862 |
Level 2 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 251 | 146 |
Liabilities: | ||
Derivatives | 7 | 8 |
Level 2 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 120 | 65 |
Liabilities: | ||
Derivatives | 4 | 3 |
Level 2 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 131 | 81 |
Liabilities: | ||
Derivatives | 3 | 5 |
Level 3 [Member] | ||
Assets: | ||
Money market fund investments | 0 | 0 |
Deferred proceeds | 227 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 1 | 1 |
Level 3 [Member] | IPL [Member] | ||
Assets: | ||
Money market fund investments | 0 | 0 |
Deferred proceeds | 227 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 0 | 0 |
Level 3 [Member] | WPL [Member] | ||
Liabilities: | ||
Long-term debt (incl. current maturities) | 0 | 0 |
Level 3 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 10 | 30 |
Liabilities: | ||
Derivatives | 0 | 1 |
Level 3 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 7 | 19 |
Liabilities: | ||
Derivatives | 0 | 1 |
Level 3 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 3 | 11 |
Liabilities: | ||
Derivatives | 0 | 0 |
Carrying Amount [Member] | ||
Assets: | ||
Money market fund investments | 59 | 32 |
Deferred proceeds | 227 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 7,716 | 7,368 |
Carrying Amount [Member] | IPL [Member] | ||
Assets: | ||
Money market fund investments | 59 | 32 |
Deferred proceeds | 227 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 3,644 | 3,643 |
Carrying Amount [Member] | WPL [Member] | ||
Liabilities: | ||
Long-term debt (incl. current maturities) | 2,430 | 2,429 |
Carrying Amount [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 261 | 176 |
Liabilities: | ||
Derivatives | 7 | 9 |
Carrying Amount [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 127 | 84 |
Liabilities: | ||
Derivatives | 4 | 4 |
Carrying Amount [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 134 | 92 |
Liabilities: | ||
Derivatives | $ 3 | $ 5 |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value Measurements Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Commodity Contracts [Member] | ||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 29 | $ 29 |
Total net losses included in changes in net assets (realized/unrealized) | (6) | (6) |
Settlements | (13) | (7) |
Ending balance | 10 | 16 |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | (5) | (6) |
Commodity Contracts [Member] | IPL [Member] | ||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 18 | 26 |
Total net losses included in changes in net assets (realized/unrealized) | (4) | (5) |
Settlements | (7) | (6) |
Ending balance | 7 | 15 |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | (4) | (6) |
Commodity Contracts [Member] | WPL [Member] | ||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 11 | 3 |
Total net losses included in changes in net assets (realized/unrealized) | (2) | (1) |
Settlements | (6) | (1) |
Ending balance | 3 | 1 |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | (1) | 0 |
Deferred Proceeds [Member] | ||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 214 | 188 |
Total net losses included in changes in net assets (realized/unrealized) | 0 | 0 |
Settlements | 13 | (81) |
Ending balance | 227 | 107 |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | 0 | 0 |
Deferred Proceeds [Member] | IPL [Member] | ||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 214 | 188 |
Total net losses included in changes in net assets (realized/unrealized) | 0 | 0 |
Settlements | 13 | (81) |
Ending balance | 227 | 107 |
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at March 31 | $ 0 | $ 0 |
Fair Value Measurements (Fair_3
Fair Value Measurements (Fair Value Of Net Derivative Assets (Liabilities)) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | $ 10 | $ 29 | $ 16 | $ 29 |
Excluding Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | 3 | 9 | ||
Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | 7 | 20 | ||
IPL [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | 7 | 18 | 15 | 26 |
IPL [Member] | Excluding Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | 3 | 8 | ||
IPL [Member] | Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | 4 | 10 | ||
WPL [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | 3 | 11 | $ 1 | $ 3 |
WPL [Member] | Excluding Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | 0 | 1 | ||
WPL [Member] | Financial Transmission Rights [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair value, net derivative assets | $ 3 | $ 10 |
Commitments And Contingencies_2
Commitments And Contingencies (Narrative) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | $ 1,201 |
IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 610 |
WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 558 |
Capital Purchase Commitment [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 214 |
Capital Purchase Commitment [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 213 |
Indemnification Agreement [Member] | |
Commitments and Contingencies [Line Items] | |
Obligations, maximum | 67 |
Indemnification Agreement [Member] | Purchased Power [Member] | |
Commitments and Contingencies [Line Items] | |
Obligations, maximum | $ 17 |
Workforce Subject to Collective Bargaining Arrangements [Member] | |
Commitments and Contingencies [Line Items] | |
Employees covered by collective bargaining agreements | 55.00% |
Workforce Subject to Collective Bargaining Arrangements [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Employees covered by collective bargaining agreements | 70.00% |
Workforce Subject to Collective Bargaining Arrangements [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Employees covered by collective bargaining agreements | 83.00% |
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year [Member] | |
Commitments and Contingencies [Line Items] | |
Employees covered by collective bargaining agreements | 26.00% |
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Employees covered by collective bargaining agreements | 83.00% |
Whiting Petroleum Affiliate [Member] | |
Commitments and Contingencies [Line Items] | |
Partnership share, percent | 6.00% |
Obligations, maximum | $ 60 |
Credit loss liability | $ 5 |
Commitments And Contingencies_3
Commitments And Contingencies (Other Purchase Commitments) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | $ 1,201 |
Individual commitments incurred | 1 |
IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 610 |
Individual commitments incurred | 1 |
WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 558 |
Individual commitments incurred | 1 |
Natural gas [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 939 |
Natural gas [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 472 |
Natural gas [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 467 |
Coal [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 127 |
Coal [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 72 |
Coal [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 55 |
Other [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 135 |
Other [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 66 |
Other [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | $ 36 |
Commitments And Contingencies_4
Commitments And Contingencies (MPG Site Estimated Future Costs And Recorded Liabilities) (Details) - Natural Gas Processing Plant [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Commitments and Contingencies [Line Items] | |
Current and non-current environmental liabilities | $ 12 |
IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Current and non-current environmental liabilities | 9 |
Minimum [Member] | |
Commitments and Contingencies [Line Items] | |
Range of estimated future costs | 10 |
Minimum [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Range of estimated future costs | 7 |
Maximum [Member] | |
Commitments and Contingencies [Line Items] | |
Range of estimated future costs | 26 |
Maximum [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Range of estimated future costs | $ 20 |
Segments Of Business (Schedule
Segments Of Business (Schedule Of Segments Of Business) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 1,068 | $ 901 |
Operating income (loss) | 248 | 198 |
Net income attributable to common shareowners | 192 | 171 |
Net income | 192 | 174 |
IPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 550 | 489 |
Operating income (loss) | 110 | 103 |
Net income attributable to common shareowners | 87 | 79 |
Net income | 87 | 82 |
WPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 496 | 395 |
Operating income (loss) | 131 | 90 |
Net income | 92 | 84 |
Electric [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 773 | 701 |
Operating income (loss) | 181 | 147 |
Electric [Member] | IPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 400 | 386 |
Operating income (loss) | 75 | 72 |
Electric [Member] | WPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 373 | 315 |
Operating income (loss) | 106 | 75 |
Gas [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 262 | 170 |
Operating income (loss) | 57 | 44 |
Gas [Member] | IPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 139 | 91 |
Operating income (loss) | 32 | 30 |
Gas [Member] | WPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 123 | 79 |
Operating income (loss) | 25 | 14 |
Other Utility [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 11 | 13 |
Operating income (loss) | 3 | 2 |
Other Utility [Member] | IPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 11 | 12 |
Operating income (loss) | 3 | 1 |
Other Utility [Member] | WPL [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 0 | 1 |
Operating income (loss) | 0 | 1 |
Utility Business [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 1,046 | 884 |
Operating income (loss) | 241 | 193 |
Net income attributable to common shareowners | 179 | 163 |
ATC Holdings, Non-Utility, Parent and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 22 | 17 |
Operating income (loss) | 7 | 5 |
Net income attributable to common shareowners | $ 13 | $ 8 |
Related Parties (Narrative) (De
Related Parties (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
WPL [Member] | ATC LLC [Member] | WPL Owed ATC LLC [Member] | Equity Method Investee [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts owed | $ 9 | $ 10 |
Related Parties (Service Agreem
Related Parties (Service Agreements) (Details) - Corporate Services [Member] - Subsidiary of Common Parent [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Corporate Services Billings [Member] | IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | $ 40 | $ 40 |
Corporate Services Billings [Member] | WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | 36 | 35 |
Sales Credited [Member] | IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | 0 | 1 |
Sales Credited [Member] | WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | 18 | 1 |
Purchases Billed [Member] | IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | 94 | 143 |
Purchases Billed [Member] | WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | $ 22 | $ 26 |
Related Parties (Net Intercompa
Related Parties (Net Intercompany Payables) (Details) - Subsidiary of Common Parent [Member] - Corporate Services [Member] - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts owed | $ 120 | $ 110 |
WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts owed | $ 76 | $ 83 |
Related Parties (Amounts Billed
Related Parties (Amounts Billed Between Parties) (Details) - ATC LLC [Member] - Equity Method Investee [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
ATC Billings To WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | $ 34 | $ 32 |
WPL Billings To ATC [Member] | ||
Related Party Transactions [Line Items] | ||
Amounts billed between related parties | $ 3 | $ 3 |