Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2022 shares | |
Entity Information [Line Items] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Sep. 30, 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 | 251,021,830 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q3 |
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 | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenues: | ||||
Electric utility | $ 1,039 | $ 939 | $ 2,624 | $ 2,357 |
Gas utility | 62 | 50 | 418 | 289 |
Other utility | 11 | 13 | 35 | 36 |
Non-utility | 23 | 22 | 70 | 60 |
Total revenues | 1,135 | 1,024 | 3,147 | 2,742 |
Operating expenses: | ||||
Electric production fuel and purchased power | 274 | 207 | 633 | 478 |
Electric transmission service | 157 | 148 | 428 | 403 |
Cost of gas sold | 26 | 18 | 242 | 149 |
Other operation and maintenance | 172 | 171 | 492 | 477 |
Depreciation and amortization | 169 | 165 | 501 | 494 |
Taxes other than income taxes | 28 | 26 | 82 | 78 |
Total operating expenses | 826 | 735 | 2,378 | 2,079 |
Operating income | 309 | 289 | 769 | 663 |
Other (income) and deductions: | ||||
Interest expense | 83 | 68 | 235 | 206 |
Equity income from unconsolidated investments, net | (5) | (13) | (37) | (47) |
Allowance for funds used during construction | (10) | (7) | (34) | (16) |
Other | 0 | 3 | 0 | 7 |
Total other (income) and deductions | 68 | 51 | 164 | 150 |
Income before income taxes | 241 | 238 | 605 | 513 |
Income tax expense (benefit) | 14 | (21) | 26 | (66) |
Net income | 227 | 259 | 579 | 579 |
Preferred dividend requirements of Interstate Power and Light Company | 0 | 3 | 0 | 8 |
Net income attributable to common shareowners | $ 227 | $ 256 | $ 579 | $ 571 |
Weighted average number of common shares outstanding: | ||||
Basic (in shares) | 251,000 | 250,300 | 250,800 | 250,200 |
Diluted (in shares) | 251,300 | 250,800 | 251,100 | 250,600 |
Earnings per weighted average common share attributable to Alliant Energy common shareowners: | ||||
Basic (in dollars per share) | $ 0.90 | $ 1.02 | $ 2.31 | $ 2.28 |
Diluted (in dollars per share) | $ 0.90 | $ 1.02 | $ 2.31 | $ 2.28 |
IPL [Member] | ||||
Revenues: | ||||
Electric utility | $ 596 | $ 555 | $ 1,438 | $ 1,343 |
Gas utility | 33 | 31 | 224 | 165 |
Other utility | 11 | 13 | 34 | 35 |
Total revenues | 640 | 599 | 1,696 | 1,543 |
Operating expenses: | ||||
Electric production fuel and purchased power | 140 | 101 | 290 | 215 |
Electric transmission service | 115 | 103 | 303 | 274 |
Cost of gas sold | 14 | 12 | 126 | 84 |
Other operation and maintenance | 90 | 95 | 260 | 253 |
Depreciation and amortization | 95 | 94 | 285 | 281 |
Taxes other than income taxes | 15 | 14 | 43 | 42 |
Total operating expenses | 469 | 419 | 1,307 | 1,149 |
Operating income | 171 | 180 | 389 | 394 |
Other (income) and deductions: | ||||
Interest expense | 37 | 34 | 111 | 103 |
Allowance for funds used during construction | (3) | (2) | (8) | (7) |
Other | (1) | 0 | (2) | 2 |
Total other (income) and deductions | 33 | 32 | 101 | 98 |
Income before income taxes | 138 | 148 | 288 | 296 |
Income tax expense (benefit) | (16) | (12) | (39) | (34) |
Net income | 154 | 160 | 327 | 330 |
Preferred dividend requirements of Interstate Power and Light Company | 0 | 3 | 0 | 8 |
Net income attributable to common shareowners | 154 | 157 | 327 | 322 |
WPL [Member] | ||||
Revenues: | ||||
Electric utility | 443 | 384 | 1,186 | 1,014 |
Gas utility | 29 | 19 | 194 | 124 |
Other utility | 0 | 0 | 1 | 1 |
Total revenues | 472 | 403 | 1,381 | 1,139 |
Operating expenses: | ||||
Electric production fuel and purchased power | 134 | 105 | 343 | 263 |
Electric transmission service | 42 | 44 | 125 | 128 |
Cost of gas sold | 13 | 6 | 117 | 65 |
Other operation and maintenance | 70 | 66 | 193 | 194 |
Depreciation and amortization | 71 | 70 | 211 | 209 |
Taxes other than income taxes | 11 | 12 | 35 | 35 |
Total operating expenses | 341 | 303 | 1,024 | 894 |
Operating income | 131 | 100 | 357 | 245 |
Other (income) and deductions: | ||||
Interest expense | 31 | 25 | 86 | 77 |
Allowance for funds used during construction | (7) | (5) | (26) | (9) |
Other | 0 | 2 | 0 | 3 |
Total other (income) and deductions | 24 | 22 | 60 | 71 |
Income before income taxes | 107 | 78 | 297 | 174 |
Income tax expense (benefit) | 16 | (15) | 50 | (41) |
Net income | $ 91 | $ 93 | $ 247 | $ 215 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 344 | $ 39 |
Accounts receivable, less allowance for expected credit losses | 509 | 440 |
Production fuel, at weighted average cost | 49 | 51 |
Gas stored underground, at weighted average cost | 124 | 82 |
Materials and supplies, at weighted average cost | 126 | 113 |
Regulatory assets | 177 | 104 |
Other | 364 | 240 |
Total current assets | 1,693 | 1,069 |
Property, plant and equipment, net | 15,858 | 14,987 |
Investments: | ||
ATC Holdings | 351 | 338 |
Other | 200 | 179 |
Total investments | 551 | 517 |
Other assets: | ||
Regulatory assets | 1,864 | 1,836 |
Deferred charges and other | 239 | 144 |
Total other assets | 2,103 | 1,980 |
Total assets | 20,205 | 18,553 |
Current liabilities: | ||
Current maturities of long-term debt | 658 | 633 |
Commercial paper | 383 | 515 |
Accounts payable | 786 | 436 |
Accrued taxes | 86 | 58 |
Regulatory liabilities | 229 | 186 |
Other | 280 | 226 |
Total current liabilities | 2,422 | 2,054 |
Long-term debt, net (excluding current portion) | 7,570 | 6,735 |
Other liabilities: | ||
Deferred tax liabilities | 1,919 | 1,927 |
Regulatory liabilities | 1,158 | 1,085 |
Pension and other benefit obligations | 349 | 374 |
Other | 522 | 388 |
Total other liabilities | 3,948 | 3,774 |
Commitments and contingencies (Note 13) | ||
Common equity: | ||
Common stock | 3 | 3 |
Additional paid-in capital | 2,767 | 2,749 |
Retained earnings | 3,508 | 3,250 |
Shares in deferred compensation trust - 395,224 and 383,532 shares at a weighted average cost of $32.23 and $30.59 per share | (13) | (12) |
Total common equity | 6,265 | 5,990 |
Total liabilities and equity | 20,205 | 18,553 |
IPL [Member] | ||
Current assets: | ||
Cash and cash equivalents | 45 | 34 |
Accounts receivable, less allowance for expected credit losses | 286 | 241 |
Income tax refunds receivable | 1 | 8 |
Production fuel, at weighted average cost | 31 | 29 |
Gas stored underground, at weighted average cost | 66 | 40 |
Materials and supplies, at weighted average cost | 77 | 70 |
Regulatory assets | 108 | 73 |
Other | 134 | 69 |
Total current assets | 748 | 564 |
Property, plant and equipment, net | 8,013 | 7,983 |
Other assets: | ||
Regulatory assets | 1,315 | 1,370 |
Deferred charges and other | 132 | 79 |
Total other assets | 1,447 | 1,449 |
Total assets | 10,208 | 9,996 |
Current liabilities: | ||
Accounts payable | 232 | 173 |
Accounts payable to associated companies | 37 | 39 |
Accrued taxes | 69 | 56 |
Accrued interest | 35 | 36 |
Regulatory liabilities | 105 | 84 |
Other | 112 | 67 |
Total current liabilities | 590 | 455 |
Long-term debt, net (excluding current portion) | 3,645 | 3,643 |
Other liabilities: | ||
Deferred tax liabilities | 1,029 | 1,083 |
Regulatory liabilities | 656 | 607 |
Pension and other benefit obligations | 118 | 127 |
Other | 314 | 312 |
Total other liabilities | 2,117 | 2,129 |
Commitments and contingencies (Note 13) | ||
Common equity: | ||
Common stock | 33 | 33 |
Additional paid-in capital | 2,807 | 2,807 |
Retained earnings | 1,016 | 929 |
Total common equity | 3,856 | 3,769 |
Total liabilities and equity | 10,208 | 9,996 |
WPL [Member] | ||
Current assets: | ||
Cash and cash equivalents | 299 | 2 |
Accounts receivable, less allowance for expected credit losses | 211 | 188 |
Production fuel, at weighted average cost | 18 | 23 |
Gas stored underground, at weighted average cost | 58 | 42 |
Materials and supplies, at weighted average cost | 47 | 41 |
Regulatory assets | 69 | 31 |
Prepaid gross receipts tax | 31 | 40 |
Other | 130 | 86 |
Total current assets | 863 | 453 |
Property, plant and equipment, net | 7,371 | 6,538 |
Other assets: | ||
Regulatory assets | 549 | 466 |
Deferred charges and other | 115 | 61 |
Total other assets | 664 | 527 |
Total assets | 8,898 | 7,518 |
Current liabilities: | ||
Current maturities of long-term debt | 250 | 250 |
Commercial paper | 0 | 236 |
Accounts payable | 470 | 190 |
Accounts payable to associated companies | 51 | 39 |
Regulatory liabilities | 124 | 102 |
Other | 93 | 73 |
Total current liabilities | 988 | 890 |
Long-term debt, net (excluding current portion) | 2,769 | 2,179 |
Other liabilities: | ||
Deferred tax liabilities | 783 | 753 |
Regulatory liabilities | 502 | 478 |
Pension and other benefit obligations | 148 | 159 |
Other | 352 | 236 |
Total other liabilities | 1,785 | 1,626 |
Commitments and contingencies (Note 13) | ||
Common equity: | ||
Common stock | 66 | 66 |
Additional paid-in capital | 2,123 | 1,704 |
Retained earnings | 1,167 | 1,053 |
Total common equity | 3,356 | 2,823 |
Total liabilities and equity | $ 8,898 | $ 7,518 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 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) | 251,021,830 | 250,474,529 |
Shares in deferred compensation trust (in shares) | 395,224 | 383,532 |
Shares in deferred compensation trust, weighted average cost per share (in dollars per share) | $ 32.23 | $ 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 | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 579 | $ 579 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 501 | 494 |
Deferred tax expense (benefit) and tax credits | 8 | (69) |
Other | (8) | 7 |
Other changes in assets and liabilities: | ||
Accounts receivable | (425) | (397) |
Derivative assets | (184) | (202) |
Regulatory assets | (102) | (21) |
Accounts payable | 90 | 0 |
Derivative liabilities | 89 | (21) |
Regulatory liabilities | 89 | 25 |
Deferred income taxes | (15) | 160 |
Pension and other benefit obligations | (25) | (59) |
Other | (112) | (19) |
Net cash flows from operating activities | 485 | 477 |
Cash flows from (used for) investing activities: | ||
Utility business construction and acquisition expenditures | (873) | (772) |
Other construction and acquisition expenditures | (69) | (60) |
Cash receipts on sold receivables | 358 | 423 |
Other | (15) | (43) |
Net cash flows from (used for) investing activities | (599) | (452) |
Cash flows from (used for) financing activities: | ||
Common stock dividends | (322) | (304) |
Proceeds from issuance of long-term debt | 1,238 | 300 |
Payments to retire long-term debt | (379) | (4) |
Net change in commercial paper | (132) | (73) |
Contributions from noncontrolling interest | 29 | 0 |
Distributions to noncontrolling interest | (29) | 0 |
Other | 16 | 24 |
Net cash flows from (used for) financing activities | 421 | (57) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 307 | (32) |
Cash, cash equivalents and restricted cash at beginning of period | 40 | 56 |
Cash, cash equivalents and restricted cash at end of period | 347 | 24 |
Supplemental cash flows information: | ||
Interest | (220) | (197) |
Income taxes, net | (7) | (1) |
Significant non-cash investing and financing activities: | ||
Accrued capital expenditures | 403 | 91 |
Beneficial interest obtained in exchange for securitized accounts receivable | 248 | 164 |
IPL [Member] | ||
Cash flows from operating activities: | ||
Net income | 327 | 330 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 285 | 281 |
Deferred tax expense (benefit) and tax credits | (24) | (13) |
Other | (8) | (1) |
Other changes in assets and liabilities: | ||
Accounts receivable | (397) | (412) |
Derivative assets | (118) | (86) |
Regulatory assets | 18 | (33) |
Accounts payable | 71 | 5 |
Derivative liabilities | 62 | (9) |
Regulatory liabilities | 61 | 30 |
Deferred income taxes | (30) | 56 |
Pension and other benefit obligations | (9) | (25) |
Other | (72) | (28) |
Net cash flows from operating activities | 166 | 95 |
Cash flows from (used for) investing activities: | ||
Utility business construction and acquisition expenditures | (269) | (285) |
Cash receipts on sold receivables | 358 | 423 |
Other | (5) | (16) |
Net cash flows from (used for) investing activities | 84 | 122 |
Cash flows from (used for) financing activities: | ||
Common stock dividends | (240) | (301) |
Capital contributions from parent | 0 | 50 |
Other | 1 | (3) |
Net cash flows from (used for) financing activities | (239) | (254) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 11 | (37) |
Cash, cash equivalents and restricted cash at beginning of period | 34 | 50 |
Cash, cash equivalents and restricted cash at end of period | 45 | 13 |
Supplemental cash flows information: | ||
Interest | (111) | (106) |
Income taxes, net | 33 | 28 |
Significant non-cash investing and financing activities: | ||
Accrued capital expenditures | 43 | 30 |
Beneficial interest obtained in exchange for securitized accounts receivable | 248 | 164 |
WPL [Member] | ||
Cash flows from operating activities: | ||
Net income | 247 | 215 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 211 | 209 |
Deferred tax expense (benefit) and tax credits | 11 | (63) |
Other | (7) | 12 |
Other changes in assets and liabilities: | ||
Derivative assets | (66) | (116) |
Regulatory assets | (120) | 11 |
Deferred income taxes | 20 | 108 |
Other | (17) | (27) |
Net cash flows from operating activities | 279 | 349 |
Cash flows from (used for) investing activities: | ||
Utility business construction and acquisition expenditures | (604) | (487) |
Other | (8) | (23) |
Net cash flows from (used for) investing activities | (612) | (510) |
Cash flows from (used for) financing activities: | ||
Common stock dividends | (133) | (126) |
Capital contributions from parent | 420 | 245 |
Proceeds from issuance of long-term debt | 588 | 300 |
Net change in commercial paper | (236) | (254) |
Contributions from noncontrolling interest | 29 | 0 |
Distributions to noncontrolling interest | (29) | 0 |
Other | (9) | (3) |
Net cash flows from (used for) financing activities | 630 | 162 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 297 | 1 |
Cash, cash equivalents and restricted cash at beginning of period | 2 | 3 |
Cash, cash equivalents and restricted cash at end of period | 299 | 4 |
Supplemental cash flows information: | ||
Interest | (78) | (72) |
Income taxes, net | (51) | (24) |
Significant non-cash investing and financing activities: | ||
Accrued capital expenditures | $ 355 | $ 59 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 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 nine months ended September 30, 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 and Cash Equivalents - At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%. NOTE 1(c) Variable Interest Entities (VIEs) - In 2022, WPL 2022 Solar Holdco, LLC was formed as a joint venture to own and operate project companies responsible for the construction, ownership and operation of various solar generation assets. Members of the joint venture were a WPL subsidiary (the managing member) and a tax equity partner. In the second quarter of 2022, the WPL subsidiary and the tax equity partner contributed $62 million and $29 million, respectively, to WPL 2022 Solar Holdco, LLC in exchange for membership interests, and $88 million of the contributed funds were paid to WPL in exchange for equity interests in the project companies. In the second quarter of 2022, Alliant Energy and WPL consolidated this joint venture as it was a VIE in which WPL held a variable interest, and WPL controlled decisions that were significant to the joint venture’s ongoing operations and economic results (i.e., WPL was the primary beneficiary). In August 2022, the Inflation Reduction Act of 2022 was enacted. Following its enactment, WPL evaluated the provisions of the new legislation and determined that retaining full ownership of the solar projects is expected to result in lower costs for its customers. As a result, in the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership, and WPL returned the $29 million of initial funding to the tax equity partner. Alliant Energy and WPL no longer expect their solar generation project construction costs to be financed with capital from tax equity partners, which would result in higher rate base amounts compared to those previously approved by the PSCW for WPL’s planned approximately 1,100 MW of solar generation. Alliant Energy and WPL concluded that no disallowance of anticipated higher rate base amounts was required as of September 30, 2022 given full ownership of WPL's planned solar generation is expected to result in lower costs for WPL's customers. Refer to Note 6 for discussion of a noncontrolling interest that was initially associated with the joint venture prior to the termination of the tax equity partnership. |
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 nine months ended September 30, 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 and Cash Equivalents - At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 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 nine months ended September 30, 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 and Cash Equivalents - At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%. NOTE 1(c) Variable Interest Entities (VIEs) - In 2022, WPL 2022 Solar Holdco, LLC was formed as a joint venture to own and operate project companies responsible for the construction, ownership and operation of various solar generation assets. Members of the joint venture were a WPL subsidiary (the managing member) and a tax equity partner. In the second quarter of 2022, the WPL subsidiary and the tax equity partner contributed $62 million and $29 million, respectively, to WPL 2022 Solar Holdco, LLC in exchange for membership interests, and $88 million of the contributed funds were paid to WPL in exchange for equity interests in the project companies. In the second quarter of 2022, Alliant Energy and WPL consolidated this joint venture as it was a VIE in which WPL held a variable interest, and WPL controlled decisions that were significant to the joint venture’s ongoing operations and economic results (i.e., WPL was the primary beneficiary). In August 2022, the Inflation Reduction Act of 2022 was enacted. Following its enactment, WPL evaluated the provisions of the new legislation and determined that retaining full ownership of the solar projects is expected to result in lower costs for its customers. As a result, in the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership, and WPL returned the $29 million of initial funding to the tax equity partner. Alliant Energy and WPL no longer expect their solar generation project construction costs to be financed with capital from tax equity partners, which would result in higher rate base amounts compared to those previously approved by the PSCW for WPL’s planned approximately 1,100 MW of solar generation. Alliant Energy and WPL concluded that no disallowance of anticipated higher rate base amounts was required as of September 30, 2022 given full ownership of WPL's planned solar generation is expected to result in lower costs for WPL's customers. Refer to Note 6 for discussion of a noncontrolling interest that was initially associated with the joint venture prior to the termination of the tax equity partnership. |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 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 September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $913 $934 $842 $884 $71 $50 Pension and OPEB costs 436 462 216 228 220 234 Asset retirement obligations 145 128 104 89 41 39 Commodity cost recovery 129 42 2 2 127 40 Derivatives 102 8 67 4 35 4 Assets retired early 75 92 56 66 19 26 IPL’s DAEC PPA amendment 72 90 72 90 — — WPL’s Western Wisconsin gas distribution expansion investments 49 52 — — 49 52 Other 120 132 64 80 56 52 $2,041 $1,940 $1,423 $1,443 $618 $497 Tax-related - Refer to N ote 9 for discussion of Iowa Tax Reform, which resulted in a decrease in Alliant Energy’s and IPL’s tax-related regulatory assets in the third quarter of 2022. Commodity cost recovery - The cost recovery mechanism for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test periods and fuel monitoring ranges determined by the PSCW during each retail electric rate proceeding or in a separate fuel cost plan approval proceeding. During the nine months ended September 30, 2022, WPL’s actual fuel-related costs fell outside these fuel monitoring ranges, resulting in a $83 million deferral of higher than expected fuel-related costs as of September 30, 2022. Derivatives - Refer to Note 11 for discussion of changes in Alliant Energy’s, IPL’s and WPL’s derivative liabilities/assets during the nine months ended September 30, 2022, which result in comparable changes to regulatory assets/liabilities on the balance sheets. Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $582 $585 $304 $312 $278 $273 Cost of removal obligations 398 384 258 252 140 132 Derivatives 312 166 164 77 148 89 WPL’s West Riverside liquidated damages 33 36 — — 33 36 Electric transmission cost recovery 16 51 4 27 12 24 Other 46 49 31 23 15 26 $1,387 $1,271 $761 $691 $626 $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 September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $913 $934 $842 $884 $71 $50 Pension and OPEB costs 436 462 216 228 220 234 Asset retirement obligations 145 128 104 89 41 39 Commodity cost recovery 129 42 2 2 127 40 Derivatives 102 8 67 4 35 4 Assets retired early 75 92 56 66 19 26 IPL’s DAEC PPA amendment 72 90 72 90 — — WPL’s Western Wisconsin gas distribution expansion investments 49 52 — — 49 52 Other 120 132 64 80 56 52 $2,041 $1,940 $1,423 $1,443 $618 $497 Tax-related - Refer to N ote 9 for discussion of Iowa Tax Reform, which resulted in a decrease in Alliant Energy’s and IPL’s tax-related regulatory assets in the third quarter of 2022. Commodity cost recovery - The cost recovery mechanism for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test periods and fuel monitoring ranges determined by the PSCW during each retail electric rate proceeding or in a separate fuel cost plan approval proceeding. During the nine months ended September 30, 2022, WPL’s actual fuel-related costs fell outside these fuel monitoring ranges, resulting in a $83 million deferral of higher than expected fuel-related costs as of September 30, 2022. Derivatives - Refer to Note 11 for discussion of changes in Alliant Energy’s, IPL’s and WPL’s derivative liabilities/assets during the nine months ended September 30, 2022, which result in comparable changes to regulatory assets/liabilities on the balance sheets. Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $582 $585 $304 $312 $278 $273 Cost of removal obligations 398 384 258 252 140 132 Derivatives 312 166 164 77 148 89 WPL’s West Riverside liquidated damages 33 36 — — 33 36 Electric transmission cost recovery 16 51 4 27 12 24 Other 46 49 31 23 15 26 $1,387 $1,271 $761 $691 $626 $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 September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $913 $934 $842 $884 $71 $50 Pension and OPEB costs 436 462 216 228 220 234 Asset retirement obligations 145 128 104 89 41 39 Commodity cost recovery 129 42 2 2 127 40 Derivatives 102 8 67 4 35 4 Assets retired early 75 92 56 66 19 26 IPL’s DAEC PPA amendment 72 90 72 90 — — WPL’s Western Wisconsin gas distribution expansion investments 49 52 — — 49 52 Other 120 132 64 80 56 52 $2,041 $1,940 $1,423 $1,443 $618 $497 Tax-related - Refer to N ote 9 for discussion of Iowa Tax Reform, which resulted in a decrease in Alliant Energy’s and IPL’s tax-related regulatory assets in the third quarter of 2022. Commodity cost recovery - The cost recovery mechanism for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test periods and fuel monitoring ranges determined by the PSCW during each retail electric rate proceeding or in a separate fuel cost plan approval proceeding. During the nine months ended September 30, 2022, WPL’s actual fuel-related costs fell outside these fuel monitoring ranges, resulting in a $83 million deferral of higher than expected fuel-related costs as of September 30, 2022. Derivatives - Refer to Note 11 for discussion of changes in Alliant Energy’s, IPL’s and WPL’s derivative liabilities/assets during the nine months ended September 30, 2022, which result in comparable changes to regulatory assets/liabilities on the balance sheets. Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $582 $585 $304 $312 $278 $273 Cost of removal obligations 398 384 258 252 140 132 Derivatives 312 166 164 77 148 89 WPL’s West Riverside liquidated damages 33 36 — — 33 36 Electric transmission cost recovery 16 51 4 27 12 24 Other 46 49 31 23 15 26 $1,387 $1,271 $761 $691 $626 $580 |
Property, Plant and Equipment
Property, Plant and Equipment | 9 Months Ended |
Sep. 30, 2022 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENTIn June 2022, WPL announced revised expected timing for the retirements of its remaining coal-fired EGUs in order to help manage regional capacity and changing generation requirements across the MISO region. WPL currently expects to retire the Edgewater Generating Station (414 MW) by June 1, 2025, and Columbia Units 1 and 2 by June 1, 2026 (595 MW in aggregate). In addition, IPL currently expects to retire the coal-fired Lansing Generating Station (275 MW) in the first half of 2023. Alliant Energy, IPL and WPL are working with MISO, state regulatory commissions and other regulatory agencies, as required, to determine the timing of these actions, which are subject to change depending on operational, regulatory, market and other factors. |
IPL [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENTIn June 2022, WPL announced revised expected timing for the retirements of its remaining coal-fired EGUs in order to help manage regional capacity and changing generation requirements across the MISO region. WPL currently expects to retire the Edgewater Generating Station (414 MW) by June 1, 2025, and Columbia Units 1 and 2 by June 1, 2026 (595 MW in aggregate). In addition, IPL currently expects to retire the coal-fired Lansing Generating Station (275 MW) in the first half of 2023. Alliant Energy, IPL and WPL are working with MISO, state regulatory commissions and other regulatory agencies, as required, to determine the timing of these actions, which are subject to change depending on operational, regulatory, market and other factors. |
WPL [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENTIn June 2022, WPL announced revised expected timing for the retirements of its remaining coal-fired EGUs in order to help manage regional capacity and changing generation requirements across the MISO region. WPL currently expects to retire the Edgewater Generating Station (414 MW) by June 1, 2025, and Columbia Units 1 and 2 by June 1, 2026 (595 MW in aggregate). In addition, IPL currently expects to retire the coal-fired Lansing Generating Station (275 MW) in the first half of 2023. Alliant Energy, IPL and WPL are working with MISO, state regulatory commissions and other regulatory agencies, as required, to determine the timing of these actions, which are subject to change depending on operational, regulatory, market and other factors. |
Receivables
Receivables | 9 Months Ended |
Sep. 30, 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 September 30, 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 and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 Maximum outstanding aggregate cash proceeds $36 $110 $66 $110 Average outstanding aggregate cash proceeds 3 65 8 52 The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): September 30, 2022 December 31, 2021 Customer accounts receivable $169 $125 Unbilled utility revenues 92 104 Receivables sold to third party 261 229 Less: cash proceeds 1 1 Deferred proceeds 260 228 Less: allowance for expected credit losses 12 14 Fair value of deferred proceeds $248 $214 As of September 30, 2022, outstanding receivables past due under the Receivables Agreement were $20 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 Collections $670 $607 $1,731 $1,589 Write-offs, net of recoveries 3 4 6 7 |
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 September 30, 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 and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 Maximum outstanding aggregate cash proceeds $36 $110 $66 $110 Average outstanding aggregate cash proceeds 3 65 8 52 The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): September 30, 2022 December 31, 2021 Customer accounts receivable $169 $125 Unbilled utility revenues 92 104 Receivables sold to third party 261 229 Less: cash proceeds 1 1 Deferred proceeds 260 228 Less: allowance for expected credit losses 12 14 Fair value of deferred proceeds $248 $214 As of September 30, 2022, outstanding receivables past due under the Receivables Agreement were $20 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 Collections $670 $607 $1,731 $1,589 Write-offs, net of recoveries 3 4 6 7 |
Investments
Investments | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30 was as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 ATC Holdings ($7) ($12) ($29) ($34) Other 2 (1) (8) (13) ($5) ($13) ($37) ($47) Refer to N ote 13( e ) for discussion of a reduction in earnings recorded in the third quarter of 2022 related to a court decision, which is currently expected to reduce the base return on equity authorized for MISO transmission owners, including ATC. |
Common Equity
Common Equity | 9 Months Ended |
Sep. 30, 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 324,533 Equity-based compensation plans 222,768 Shares outstanding, September 30, 2022 251,021,830 Noncontrolling Interest - In the second quarter of 2022, WPL and the tax equity partner contributed to a joint venture associated with certain WPL solar generation projects. The tax equity partner's contributions were represented as a noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of June 30, 2022. In the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership and WPL returned the tax equity partner’s initial contributions, resulting in the reversal of the noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of September 30, 2022. Refer to Note 1( c ) for additional information. 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 Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $3 $2,759 $3,387 $— ($12) $29 $6,166 Net income attributable to Alliant Energy common shareowners 227 227 Common stock dividends ($0.4275 per share) (106) (106) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 2 (1) 1 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 September 30, 2021 Beginning balance, June 30, 2021 $3 $2,722 $3,106 ($1) ($11) $200 $6,019 Net income attributable to Alliant Energy common shareowners 256 256 Common stock dividends ($0.4025 per share) (101) (101) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 5 5 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 579 579 Common stock dividends ($1.2825 per share) (322) (322) Shareowner Direct Plan issuances 19 19 Equity-based compensation plans and other (1) 1 (1) (1) Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 571 571 Common stock dividends ($1.2075 per share) (304) (304) Shareowner Direct Plan issuances 1 21 22 Equity-based compensation plans and other 8 8 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $33 $2,807 $942 $— $3,782 Net income available for common stock 154 154 Common stock dividends (80) (80) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $33 $2,802 $944 $200 $3,979 Net income available for common stock 157 157 Common stock dividends (101) (101) Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 327 327 Common stock dividends (240) (240) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 322 322 Common stock dividends (301) (301) Capital contributions from parent 50 50 Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $66 $1,968 $1,120 $29 $3,183 Net income 91 91 Common stock dividends (44) (44) Capital contributions from parent 155 155 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $66 $1,669 $990 $— $2,725 Net income 93 93 Common stock dividends (41) (41) Capital contributions from parent 35 35 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $— $2,823 Net income 247 247 Common stock dividends (133) (133) Capital contributions from parent 420 420 Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Other (1) (1) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $— $2,478 Net income 215 215 Common stock dividends (126) (126) Capital contributions from parent 245 245 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 |
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 324,533 Equity-based compensation plans 222,768 Shares outstanding, September 30, 2022 251,021,830 Noncontrolling Interest - In the second quarter of 2022, WPL and the tax equity partner contributed to a joint venture associated with certain WPL solar generation projects. The tax equity partner's contributions were represented as a noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of June 30, 2022. In the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership and WPL returned the tax equity partner’s initial contributions, resulting in the reversal of the noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of September 30, 2022. Refer to Note 1( c ) for additional information. 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 Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $3 $2,759 $3,387 $— ($12) $29 $6,166 Net income attributable to Alliant Energy common shareowners 227 227 Common stock dividends ($0.4275 per share) (106) (106) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 2 (1) 1 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 September 30, 2021 Beginning balance, June 30, 2021 $3 $2,722 $3,106 ($1) ($11) $200 $6,019 Net income attributable to Alliant Energy common shareowners 256 256 Common stock dividends ($0.4025 per share) (101) (101) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 5 5 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 579 579 Common stock dividends ($1.2825 per share) (322) (322) Shareowner Direct Plan issuances 19 19 Equity-based compensation plans and other (1) 1 (1) (1) Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 571 571 Common stock dividends ($1.2075 per share) (304) (304) Shareowner Direct Plan issuances 1 21 22 Equity-based compensation plans and other 8 8 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $33 $2,807 $942 $— $3,782 Net income available for common stock 154 154 Common stock dividends (80) (80) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $33 $2,802 $944 $200 $3,979 Net income available for common stock 157 157 Common stock dividends (101) (101) Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 327 327 Common stock dividends (240) (240) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 322 322 Common stock dividends (301) (301) Capital contributions from parent 50 50 Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $66 $1,968 $1,120 $29 $3,183 Net income 91 91 Common stock dividends (44) (44) Capital contributions from parent 155 155 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $66 $1,669 $990 $— $2,725 Net income 93 93 Common stock dividends (41) (41) Capital contributions from parent 35 35 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $— $2,823 Net income 247 247 Common stock dividends (133) (133) Capital contributions from parent 420 420 Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Other (1) (1) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $— $2,478 Net income 215 215 Common stock dividends (126) (126) Capital contributions from parent 245 245 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 |
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 324,533 Equity-based compensation plans 222,768 Shares outstanding, September 30, 2022 251,021,830 Noncontrolling Interest - In the second quarter of 2022, WPL and the tax equity partner contributed to a joint venture associated with certain WPL solar generation projects. The tax equity partner's contributions were represented as a noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of June 30, 2022. In the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership and WPL returned the tax equity partner’s initial contributions, resulting in the reversal of the noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of September 30, 2022. Refer to Note 1( c ) for additional information. 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 Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $3 $2,759 $3,387 $— ($12) $29 $6,166 Net income attributable to Alliant Energy common shareowners 227 227 Common stock dividends ($0.4275 per share) (106) (106) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 2 (1) 1 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 September 30, 2021 Beginning balance, June 30, 2021 $3 $2,722 $3,106 ($1) ($11) $200 $6,019 Net income attributable to Alliant Energy common shareowners 256 256 Common stock dividends ($0.4025 per share) (101) (101) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 5 5 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 579 579 Common stock dividends ($1.2825 per share) (322) (322) Shareowner Direct Plan issuances 19 19 Equity-based compensation plans and other (1) 1 (1) (1) Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 571 571 Common stock dividends ($1.2075 per share) (304) (304) Shareowner Direct Plan issuances 1 21 22 Equity-based compensation plans and other 8 8 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $33 $2,807 $942 $— $3,782 Net income available for common stock 154 154 Common stock dividends (80) (80) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $33 $2,802 $944 $200 $3,979 Net income available for common stock 157 157 Common stock dividends (101) (101) Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 327 327 Common stock dividends (240) (240) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 322 322 Common stock dividends (301) (301) Capital contributions from parent 50 50 Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $66 $1,968 $1,120 $29 $3,183 Net income 91 91 Common stock dividends (44) (44) Capital contributions from parent 155 155 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $66 $1,669 $990 $— $2,725 Net income 93 93 Common stock dividends (41) (41) Capital contributions from parent 35 35 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $— $2,823 Net income 247 247 Common stock dividends (133) (133) Capital contributions from parent 420 420 Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Other (1) (1) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $— $2,478 Net income 215 215 Common stock dividends (126) (126) Capital contributions from parent 245 245 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 |
Debt
Debt | 9 Months Ended |
Sep. 30, 2022 | |
Debt [Line Items] | |
Debt | DEBT NOTE 7(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): September 30, 2022 Alliant Energy IPL WPL Amount outstanding $383 $— $— Weighted average interest rates 3.4% N/A N/A Available credit facility capacity $617 $250 $300 Alliant Energy IPL WPL Three Months Ended September 30 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $449 $648 $— $8 $251 $320 Average amount outstanding (based on daily outstanding balances) $353 $560 $— $— $110 $221 Weighted average interest rates 2.4% 0.2% —% 0.2% 2.0% 0.1% Nine Months Ended September 30 Maximum amount outstanding (based on daily outstanding balances) $577 $648 $— $19 $252 $320 Average amount outstanding (based on daily outstanding balances) $377 $479 $— $— $160 $196 Weighted average interest rates 1.2% 0.2% —% 0.2% 0.9% 0.1% In October 2022, Alliant Energy, IPL and WPL reallocated credit facility capacity amounts to $500 million for Alliant Energy at the parent company level, $200 million for IPL and $300 million for WPL, within the $1 billion total commitment. NOTE 7(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 (3% as of September 30, 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. In August 2022, WPL issued $600 million of 3.95% debentures due 2032. The debentures were issued as green bonds, and an amount equal to or in excess of the net proceeds will be disbursed for the development and acquisition of WPL’s solar EGUs. In September 2022, Corporate Services retired its $75 million, 3.45% senior notes due 2022. |
IPL [Member] | |
Debt [Line Items] | |
Debt | DEBT NOTE 7(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): September 30, 2022 Alliant Energy IPL WPL Amount outstanding $383 $— $— Weighted average interest rates 3.4% N/A N/A Available credit facility capacity $617 $250 $300 Alliant Energy IPL WPL Three Months Ended September 30 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $449 $648 $— $8 $251 $320 Average amount outstanding (based on daily outstanding balances) $353 $560 $— $— $110 $221 Weighted average interest rates 2.4% 0.2% —% 0.2% 2.0% 0.1% Nine Months Ended September 30 Maximum amount outstanding (based on daily outstanding balances) $577 $648 $— $19 $252 $320 Average amount outstanding (based on daily outstanding balances) $377 $479 $— $— $160 $196 Weighted average interest rates 1.2% 0.2% —% 0.2% 0.9% 0.1% In October 2022, Alliant Energy, IPL and WPL reallocated credit facility capacity amounts to $500 million for Alliant Energy at the parent company level, $200 million for IPL and $300 million for WPL, within the $1 billion total commitment. |
WPL [Member] | |
Debt [Line Items] | |
Debt | DEBT NOTE 7(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): September 30, 2022 Alliant Energy IPL WPL Amount outstanding $383 $— $— Weighted average interest rates 3.4% N/A N/A Available credit facility capacity $617 $250 $300 Alliant Energy IPL WPL Three Months Ended September 30 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $449 $648 $— $8 $251 $320 Average amount outstanding (based on daily outstanding balances) $353 $560 $— $— $110 $221 Weighted average interest rates 2.4% 0.2% —% 0.2% 2.0% 0.1% Nine Months Ended September 30 Maximum amount outstanding (based on daily outstanding balances) $577 $648 $— $19 $252 $320 Average amount outstanding (based on daily outstanding balances) $377 $479 $— $— $160 $196 Weighted average interest rates 1.2% 0.2% —% 0.2% 0.9% 0.1% In October 2022, Alliant Energy, IPL and WPL reallocated credit facility capacity amounts to $500 million for Alliant Energy at the parent company level, $200 million for IPL and $300 million for WPL, within the $1 billion total commitment. NOTE 7(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 (3% as of September 30, 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. In August 2022, WPL issued $600 million of 3.95% debentures due 2032. The debentures were issued as green bonds, and an amount equal to or in excess of the net proceeds will be disbursed for the development and acquisition of WPL’s solar EGUs. In September 2022, Corporate Services retired its $75 million, 3.45% senior notes due 2022. |
Revenues
Revenues | 9 Months Ended |
Sep. 30, 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 September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $376 $348 $222 $207 $154 $141 Retail - commercial 243 232 165 160 78 72 Retail - industrial 289 265 172 158 117 107 Wholesale 68 55 19 18 49 37 Bulk power and other 63 39 18 12 45 27 Total Electric Utility 1,039 939 596 555 443 384 Gas Utility: Retail - residential 28 24 14 14 14 10 Retail - commercial 18 13 8 8 10 5 Retail - industrial 4 3 3 3 1 — Transportation/other 12 10 8 6 4 4 Total Gas Utility 62 50 33 31 29 19 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 4 — — Total Other Utility 11 13 11 13 — — Non-Utility and Other: Travero and other 23 22 — — — — Total Non-Utility and Other 23 22 — — — — Total revenues $1,135 $1,024 $640 $599 $472 $403 Alliant Energy IPL WPL Nine Months Ended September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $956 $868 $529 $488 $427 $380 Retail - commercial 628 579 411 385 217 194 Retail - industrial 743 677 418 386 325 291 Wholesale 168 142 49 44 119 98 Bulk power and other 129 91 31 40 98 51 Total Electric Utility 2,624 2,357 1,438 1,343 1,186 1,014 Gas Utility: Retail - residential 237 162 127 90 110 72 Retail - commercial 127 85 62 47 65 38 Retail - industrial 15 11 10 8 5 3 Transportation/other 39 31 25 20 14 11 Total Gas Utility 418 289 224 165 194 124 Other Utility: Steam 29 27 29 27 — — Other utility 6 9 5 8 1 1 Total Other Utility 35 36 34 35 1 1 Non-Utility and Other: Travero and other 70 60 — — — — Total Non-Utility and Other 70 60 — — — — Total revenues $3,147 $2,742 $1,696 $1,543 $1,381 $1,139 |
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 September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $376 $348 $222 $207 $154 $141 Retail - commercial 243 232 165 160 78 72 Retail - industrial 289 265 172 158 117 107 Wholesale 68 55 19 18 49 37 Bulk power and other 63 39 18 12 45 27 Total Electric Utility 1,039 939 596 555 443 384 Gas Utility: Retail - residential 28 24 14 14 14 10 Retail - commercial 18 13 8 8 10 5 Retail - industrial 4 3 3 3 1 — Transportation/other 12 10 8 6 4 4 Total Gas Utility 62 50 33 31 29 19 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 4 — — Total Other Utility 11 13 11 13 — — Non-Utility and Other: Travero and other 23 22 — — — — Total Non-Utility and Other 23 22 — — — — Total revenues $1,135 $1,024 $640 $599 $472 $403 Alliant Energy IPL WPL Nine Months Ended September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $956 $868 $529 $488 $427 $380 Retail - commercial 628 579 411 385 217 194 Retail - industrial 743 677 418 386 325 291 Wholesale 168 142 49 44 119 98 Bulk power and other 129 91 31 40 98 51 Total Electric Utility 2,624 2,357 1,438 1,343 1,186 1,014 Gas Utility: Retail - residential 237 162 127 90 110 72 Retail - commercial 127 85 62 47 65 38 Retail - industrial 15 11 10 8 5 3 Transportation/other 39 31 25 20 14 11 Total Gas Utility 418 289 224 165 194 124 Other Utility: Steam 29 27 29 27 — — Other utility 6 9 5 8 1 1 Total Other Utility 35 36 34 35 1 1 Non-Utility and Other: Travero and other 70 60 — — — — Total Non-Utility and Other 70 60 — — — — Total revenues $3,147 $2,742 $1,696 $1,543 $1,381 $1,139 |
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 September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $376 $348 $222 $207 $154 $141 Retail - commercial 243 232 165 160 78 72 Retail - industrial 289 265 172 158 117 107 Wholesale 68 55 19 18 49 37 Bulk power and other 63 39 18 12 45 27 Total Electric Utility 1,039 939 596 555 443 384 Gas Utility: Retail - residential 28 24 14 14 14 10 Retail - commercial 18 13 8 8 10 5 Retail - industrial 4 3 3 3 1 — Transportation/other 12 10 8 6 4 4 Total Gas Utility 62 50 33 31 29 19 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 4 — — Total Other Utility 11 13 11 13 — — Non-Utility and Other: Travero and other 23 22 — — — — Total Non-Utility and Other 23 22 — — — — Total revenues $1,135 $1,024 $640 $599 $472 $403 Alliant Energy IPL WPL Nine Months Ended September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $956 $868 $529 $488 $427 $380 Retail - commercial 628 579 411 385 217 194 Retail - industrial 743 677 418 386 325 291 Wholesale 168 142 49 44 119 98 Bulk power and other 129 91 31 40 98 51 Total Electric Utility 2,624 2,357 1,438 1,343 1,186 1,014 Gas Utility: Retail - residential 237 162 127 90 110 72 Retail - commercial 127 85 62 47 65 38 Retail - industrial 15 11 10 8 5 3 Transportation/other 39 31 25 20 14 11 Total Gas Utility 418 289 224 165 194 124 Other Utility: Steam 29 27 29 27 — — Other utility 6 9 5 8 1 1 Total Other Utility 35 36 34 35 1 1 Non-Utility and Other: Travero and other 70 60 — — — — Total Non-Utility and Other 70 60 — — — — Total revenues $3,147 $2,742 $1,696 $1,543 $1,381 $1,139 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Overall income tax rate 6% (9%) 4% (13%) (12%) (8%) (14%) (11%) 15% (19%) 17% (24%) Deferred Tax Assets and Liabilities - Carryforwards - In the third quarter of 2022, Alliant Energy, IPL and WPL fully utilized their respective federal net operating losses carryforwards. At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL State net operating losses 2022-2042 $500 $9 $2 Federal tax credits 2022-2042 655 437 208 Iowa Tax Reform - In March 2022, Iowa tax reform was enacted. 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, and reduce such rates if certain state income tax revenue triggers are satisfied. These corporate income tax rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%, compared to the current 9.8% Iowa corporate income tax rate. In September 2022, the Iowa Department of Revenue announced an Iowa corporate income tax rate of 8.4%, effective January 1, 2023. Deferred tax assets and liabilities are measured at the enacted tax rate expected to be applied when temporary differences are to be realized or settled. Given the announcement of the new Iowa corporate income tax rate, Alliant Energy’s and IPL’s deferred tax liabilities were remeasured based upon the new rate effective January 1, 2023, which resulted in a $76 million reduction of Alliant Energy’s and IPL’s tax-related regulatory assets and a decrease in their deferred tax liabilities in the third quarter of 2022. The reduction in tax-related regulatory assets is expected to provide cost benefits to IPL’s customers in the future. Alliant Energy parent company’s deferred tax assets were remeasured based upon the new rate effective January 1, 2023, which resulted in a charge of $8 million recorded to income tax expense in Alliant Energy’s income statement and a decrease in deferred income tax assets on Alliant Energy’s balance sheet in the third quarter of 2022. Alliant Energy is currently unable to predict with certainty the timing or amount of any future rate reductions. |
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 and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Overall income tax rate 6% (9%) 4% (13%) (12%) (8%) (14%) (11%) 15% (19%) 17% (24%) Deferred Tax Assets and Liabilities - Carryforwards - In the third quarter of 2022, Alliant Energy, IPL and WPL fully utilized their respective federal net operating losses carryforwards. At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL State net operating losses 2022-2042 $500 $9 $2 Federal tax credits 2022-2042 655 437 208 Iowa Tax Reform - In March 2022, Iowa tax reform was enacted. 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, and reduce such rates if certain state income tax revenue triggers are satisfied. These corporate income tax rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%, compared to the current 9.8% Iowa corporate income tax rate. In September 2022, the Iowa Department of Revenue announced an Iowa corporate income tax rate of 8.4%, effective January 1, 2023. Deferred tax assets and liabilities are measured at the enacted tax rate expected to be applied when temporary differences are to be realized or settled. Given the announcement of the new Iowa corporate income tax rate, Alliant Energy’s and IPL’s deferred tax liabilities were remeasured based upon the new rate effective January 1, 2023, which resulted in a $76 million reduction of Alliant Energy’s and IPL’s tax-related regulatory assets and a decrease in their deferred tax liabilities in the third quarter of 2022. The reduction in tax-related regulatory assets is expected to provide cost benefits to IPL’s customers in the future. Alliant Energy parent company’s deferred tax assets were remeasured based upon the new rate effective January 1, 2023, which resulted in a charge of $8 million recorded to income tax expense in Alliant Energy’s income statement and a decrease in deferred income tax assets on Alliant Energy’s balance sheet in the third quarter of 2022. Alliant Energy is currently unable to predict with certainty the timing or amount of any future rate reductions. |
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 and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Overall income tax rate 6% (9%) 4% (13%) (12%) (8%) (14%) (11%) 15% (19%) 17% (24%) Deferred Tax Assets and Liabilities - Carryforwards - In the third quarter of 2022, Alliant Energy, IPL and WPL fully utilized their respective federal net operating losses carryforwards. At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL State net operating losses 2022-2042 $500 $9 $2 Federal tax credits 2022-2042 655 437 208 Iowa Tax Reform - In March 2022, Iowa tax reform was enacted. 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, and reduce such rates if certain state income tax revenue triggers are satisfied. These corporate income tax rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%, compared to the current 9.8% Iowa corporate income tax rate. In September 2022, the Iowa Department of Revenue announced an Iowa corporate income tax rate of 8.4%, effective January 1, 2023. Deferred tax assets and liabilities are measured at the enacted tax rate expected to be applied when temporary differences are to be realized or settled. Given the announcement of the new Iowa corporate income tax rate, Alliant Energy’s and IPL’s deferred tax liabilities were remeasured based upon the new rate effective January 1, 2023, which resulted in a $76 million reduction of Alliant Energy’s and IPL’s tax-related regulatory assets and a decrease in their deferred tax liabilities in the third quarter of 2022. The reduction in tax-related regulatory assets is expected to provide cost benefits to IPL’s customers in the future. Alliant Energy parent company’s deferred tax assets were remeasured based upon the new rate effective January 1, 2023, which resulted in a charge of $8 million recorded to income tax expense in Alliant Energy’s income statement and a decrease in deferred income tax assets on Alliant Energy’s balance sheet in the third quarter of 2022. Alliant Energy is currently unable to predict with certainty the timing or amount of any future rate reductions. |
Benefit Plans
Benefit Plans | 9 Months Ended |
Sep. 30, 2022 | |
Benefit Plans | BENEFIT PLANS NOTE 10(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 and nine months ended September 30 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 Three Months Nine Months Three Months Nine Months Alliant Energy 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $3 $2 $7 $8 $— $1 $2 $3 Interest cost 9 9 27 26 1 1 4 3 Expected return on plan assets (18) (17) (52) (51) — (1) (3) (3) Amortization of prior service credit — (1) — (1) — — — — Amortization of actuarial loss 8 10 24 29 1 1 2 3 $2 $3 $6 $11 $2 $2 $5 $6 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months IPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $1 $1 $4 $5 $— $— $1 $1 Interest cost 4 4 12 12 1 1 2 2 Expected return on plan assets (7) (8) (23) (24) (1) (1) (3) (3) Amortization of actuarial loss 3 5 10 13 — — — 1 $1 $2 $3 $6 $— $— $— $1 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months WPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $— $1 $2 $3 $— $1 $— $1 Interest cost 4 3 12 11 1 — 2 1 Expected return on plan assets (7) (8) (23) (23) — — — — Amortization of actuarial loss 4 5 12 14 — 1 1 2 $1 $1 $3 $5 $1 $2 $3 $4 NOTE 10(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 and nine months ended September 30 was as follows (in millions): Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Compensation expense $3 $4 $9 $9 $2 $2 $5 $5 $1 $2 $4 $4 Income tax benefits 1 1 3 3 — — 1 1 — — 1 1 As of September 30, 2022, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $8 million, $5 million and $3 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years. For the nine months ended September 30, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees under existing plans 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 74,106 $54.45 Performance restricted stock units 84,670 57.01 Restricted stock units 77,122 56.88 As of September 30, 2022, 285,909 shares were included in the calculation of diluted EPS related to the nonvested equity awards. |
IPL [Member] | |
Benefit Plans | BENEFIT PLANS NOTE 10(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 and nine months ended September 30 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 Three Months Nine Months Three Months Nine Months Alliant Energy 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $3 $2 $7 $8 $— $1 $2 $3 Interest cost 9 9 27 26 1 1 4 3 Expected return on plan assets (18) (17) (52) (51) — (1) (3) (3) Amortization of prior service credit — (1) — (1) — — — — Amortization of actuarial loss 8 10 24 29 1 1 2 3 $2 $3 $6 $11 $2 $2 $5 $6 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months IPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $1 $1 $4 $5 $— $— $1 $1 Interest cost 4 4 12 12 1 1 2 2 Expected return on plan assets (7) (8) (23) (24) (1) (1) (3) (3) Amortization of actuarial loss 3 5 10 13 — — — 1 $1 $2 $3 $6 $— $— $— $1 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months WPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $— $1 $2 $3 $— $1 $— $1 Interest cost 4 3 12 11 1 — 2 1 Expected return on plan assets (7) (8) (23) (23) — — — — Amortization of actuarial loss 4 5 12 14 — 1 1 2 $1 $1 $3 $5 $1 $2 $3 $4 NOTE 10(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 and nine months ended September 30 was as follows (in millions): Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Compensation expense $3 $4 $9 $9 $2 $2 $5 $5 $1 $2 $4 $4 Income tax benefits 1 1 3 3 — — 1 1 — — 1 1 As of September 30, 2022, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $8 million, $5 million and $3 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years. For the nine months ended September 30, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees under existing plans 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 74,106 $54.45 Performance restricted stock units 84,670 57.01 Restricted stock units 77,122 56.88 As of September 30, 2022, 285,909 shares were included in the calculation of diluted EPS related to the nonvested equity awards. |
WPL [Member] | |
Benefit Plans | BENEFIT PLANS NOTE 10(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 and nine months ended September 30 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 Three Months Nine Months Three Months Nine Months Alliant Energy 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $3 $2 $7 $8 $— $1 $2 $3 Interest cost 9 9 27 26 1 1 4 3 Expected return on plan assets (18) (17) (52) (51) — (1) (3) (3) Amortization of prior service credit — (1) — (1) — — — — Amortization of actuarial loss 8 10 24 29 1 1 2 3 $2 $3 $6 $11 $2 $2 $5 $6 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months IPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $1 $1 $4 $5 $— $— $1 $1 Interest cost 4 4 12 12 1 1 2 2 Expected return on plan assets (7) (8) (23) (24) (1) (1) (3) (3) Amortization of actuarial loss 3 5 10 13 — — — 1 $1 $2 $3 $6 $— $— $— $1 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months WPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $— $1 $2 $3 $— $1 $— $1 Interest cost 4 3 12 11 1 — 2 1 Expected return on plan assets (7) (8) (23) (23) — — — — Amortization of actuarial loss 4 5 12 14 — 1 1 2 $1 $1 $3 $5 $1 $2 $3 $4 NOTE 10(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 and nine months ended September 30 was as follows (in millions): Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Compensation expense $3 $4 $9 $9 $2 $2 $5 $5 $1 $2 $4 $4 Income tax benefits 1 1 3 3 — — 1 1 — — 1 1 As of September 30, 2022, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $8 million, $5 million and $3 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years. For the nine months ended September 30, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees under existing plans 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 74,106 $54.45 Performance restricted stock units 84,670 57.01 Restricted stock units 77,122 56.88 As of September 30, 2022, 285,909 shares were included in the calculation of diluted EPS related to the nonvested equity awards. |
Derivative Instruments
Derivative Instruments | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments [Line Items] | |
Derivative Instruments | DERIVATIVE INSTRUMENTS Commodity Derivatives - Notional Amounts - As of September 30, 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): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 1,379 2022-2024 14,454 2022-2023 249,508 2022-2032 1,566 2022-2023 756 2022 IPL 768 2022-2024 6,165 2022-2023 135,193 2022-2030 669 2022-2023 — — WPL 611 2022-2023 8,289 2022-2023 114,315 2022-2032 897 2022-2023 756 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 September 30, December 31, September 30, December 31, September 30, December 31, Current derivative assets $200 $113 $117 $48 $83 $65 Non-current derivative assets 160 63 85 36 75 27 Current derivative liabilities 71 8 54 4 17 4 Non-current derivative liabilities 27 1 12 — 15 1 During the nine months ended September 30, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily due to the annual FTR auction operated by MISO and as a result of higher natural gas prices. Alliant Energy’s, IPL’s and WPL’s derivative liabilities increased primarily due to new natural gas contracts entered into in the second quarter of 2022. Based on IPL’s and WPL’s cost recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/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 up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At September 30, 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, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions): Alliant Energy IPL WPL Gross Gross Gross (as reported) Net (as reported) Net (as reported) Net September 30, 2022 Derivative assets $360 $308 $202 $165 $158 $143 Derivative liabilities 98 46 66 29 32 17 December 31, 2021 Derivative assets 176 171 84 83 92 88 Derivative liabilities 9 4 4 3 5 1 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 September 30, 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): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 1,379 2022-2024 14,454 2022-2023 249,508 2022-2032 1,566 2022-2023 756 2022 IPL 768 2022-2024 6,165 2022-2023 135,193 2022-2030 669 2022-2023 — — WPL 611 2022-2023 8,289 2022-2023 114,315 2022-2032 897 2022-2023 756 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 September 30, December 31, September 30, December 31, September 30, December 31, Current derivative assets $200 $113 $117 $48 $83 $65 Non-current derivative assets 160 63 85 36 75 27 Current derivative liabilities 71 8 54 4 17 4 Non-current derivative liabilities 27 1 12 — 15 1 During the nine months ended September 30, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily due to the annual FTR auction operated by MISO and as a result of higher natural gas prices. Alliant Energy’s, IPL’s and WPL’s derivative liabilities increased primarily due to new natural gas contracts entered into in the second quarter of 2022. Based on IPL’s and WPL’s cost recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/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 up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At September 30, 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, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions): Alliant Energy IPL WPL Gross Gross Gross (as reported) Net (as reported) Net (as reported) Net September 30, 2022 Derivative assets $360 $308 $202 $165 $158 $143 Derivative liabilities 98 46 66 29 32 17 December 31, 2021 Derivative assets 176 171 84 83 92 88 Derivative liabilities 9 4 4 3 5 1 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 September 30, 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): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 1,379 2022-2024 14,454 2022-2023 249,508 2022-2032 1,566 2022-2023 756 2022 IPL 768 2022-2024 6,165 2022-2023 135,193 2022-2030 669 2022-2023 — — WPL 611 2022-2023 8,289 2022-2023 114,315 2022-2032 897 2022-2023 756 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 September 30, December 31, September 30, December 31, September 30, December 31, Current derivative assets $200 $113 $117 $48 $83 $65 Non-current derivative assets 160 63 85 36 75 27 Current derivative liabilities 71 8 54 4 17 4 Non-current derivative liabilities 27 1 12 — 15 1 During the nine months ended September 30, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily due to the annual FTR auction operated by MISO and as a result of higher natural gas prices. Alliant Energy’s, IPL’s and WPL’s derivative liabilities increased primarily due to new natural gas contracts entered into in the second quarter of 2022. Based on IPL’s and WPL’s cost recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/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 up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At September 30, 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, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions): Alliant Energy IPL WPL Gross Gross Gross (as reported) Net (as reported) Net (as reported) Net September 30, 2022 Derivative assets $360 $308 $202 $165 $158 $143 Derivative liabilities 98 46 66 29 32 17 December 31, 2021 Derivative assets 176 171 84 83 92 88 Derivative liabilities 9 4 4 3 5 1 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 | 9 Months Ended |
Sep. 30, 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 September 30, 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 $334 $334 $— $— $334 $32 $32 $— $— $32 Derivatives 360 — 295 65 360 176 — 146 30 176 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 98 — 78 20 98 9 — 8 1 9 Long-term debt (incl. current maturities) 8,228 — 7,473 1 7,474 7,368 — 8,329 1 8,330 IPL September 30, 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 $39 $39 $— $— $39 $32 $32 $— $— $32 Derivatives 202 — 150 52 202 84 — 65 19 84 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 66 — 47 19 66 4 — 3 1 4 Long-term debt 3,645 — 3,228 — 3,228 3,643 — 4,124 — 4,124 WPL September 30, 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 $295 $295 $— $— $295 $— $— $— $— $— Derivatives 158 — 145 13 158 92 — 81 11 92 Liabilities: Derivatives 32 — 31 1 32 5 — 5 — 5 Long-term debt (incl. current maturities) 3,019 — 2,778 — 2,778 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 September 30 2022 2021 2022 2021 Beginning balance, July 1 $72 $39 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (1) 5 — — Transfers out of Level 3 — (8) — — Settlements (a) (26) (7) 4 10 Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($1) $5 $— $— Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net gains (losses) included in changes in net assets (realized/unrealized) (17) 6 — — Transfers out of Level 3 — (8) — — Purchases 79 21 — — Settlements (a) (46) (19) 34 (24) Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($17) $6 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended September 30 2022 2021 2022 2021 Beginning balance, July 1 $58 $30 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (6) 2 — — Transfers out of Level 3 — (8) — — Settlements (a) (19) (5) 4 10 Ending balance, September 30 $33 $19 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($6) $2 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (13) — — — Transfers out of Level 3 — (8) — — Purchases 58 16 — — Settlements (a) (30) (15) 34 (24) Ending balance, September 30 $33 $19 $248 $164 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 September 30 ($14) $— $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended September 30 2022 2021 Beginning balance, July 1 $14 $9 Total net gains included in changes in net assets (realized/unrealized) 5 3 Settlements (7) (2) Ending balance, September 30 $12 $10 The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30 $5 $3 WPL Commodity Contract Derivative Assets and (Liabilities), net Nine Months Ended September 30 2022 2021 Beginning balance, January 1 $11 $3 Total net gains (losses) included in changes in net assets (realized/unrealized) (4) 6 Purchases 21 5 Settlements (16) (4) Ending balance, September 30 $12 $10 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($3) $6 (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 (liabilities) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs September 30, 2022 ($14) $59 ($15) $48 $1 $11 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 September 30, 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 $334 $334 $— $— $334 $32 $32 $— $— $32 Derivatives 360 — 295 65 360 176 — 146 30 176 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 98 — 78 20 98 9 — 8 1 9 Long-term debt (incl. current maturities) 8,228 — 7,473 1 7,474 7,368 — 8,329 1 8,330 IPL September 30, 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 $39 $39 $— $— $39 $32 $32 $— $— $32 Derivatives 202 — 150 52 202 84 — 65 19 84 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 66 — 47 19 66 4 — 3 1 4 Long-term debt 3,645 — 3,228 — 3,228 3,643 — 4,124 — 4,124 WPL September 30, 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 $295 $295 $— $— $295 $— $— $— $— $— Derivatives 158 — 145 13 158 92 — 81 11 92 Liabilities: Derivatives 32 — 31 1 32 5 — 5 — 5 Long-term debt (incl. current maturities) 3,019 — 2,778 — 2,778 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 September 30 2022 2021 2022 2021 Beginning balance, July 1 $72 $39 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (1) 5 — — Transfers out of Level 3 — (8) — — Settlements (a) (26) (7) 4 10 Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($1) $5 $— $— Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net gains (losses) included in changes in net assets (realized/unrealized) (17) 6 — — Transfers out of Level 3 — (8) — — Purchases 79 21 — — Settlements (a) (46) (19) 34 (24) Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($17) $6 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended September 30 2022 2021 2022 2021 Beginning balance, July 1 $58 $30 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (6) 2 — — Transfers out of Level 3 — (8) — — Settlements (a) (19) (5) 4 10 Ending balance, September 30 $33 $19 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($6) $2 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (13) — — — Transfers out of Level 3 — (8) — — Purchases 58 16 — — Settlements (a) (30) (15) 34 (24) Ending balance, September 30 $33 $19 $248 $164 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 September 30 ($14) $— $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended September 30 2022 2021 Beginning balance, July 1 $14 $9 Total net gains included in changes in net assets (realized/unrealized) 5 3 Settlements (7) (2) Ending balance, September 30 $12 $10 The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30 $5 $3 WPL Commodity Contract Derivative Assets and (Liabilities), net Nine Months Ended September 30 2022 2021 Beginning balance, January 1 $11 $3 Total net gains (losses) included in changes in net assets (realized/unrealized) (4) 6 Purchases 21 5 Settlements (16) (4) Ending balance, September 30 $12 $10 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($3) $6 (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 (liabilities) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs September 30, 2022 ($14) $59 ($15) $48 $1 $11 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 September 30, 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 $334 $334 $— $— $334 $32 $32 $— $— $32 Derivatives 360 — 295 65 360 176 — 146 30 176 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 98 — 78 20 98 9 — 8 1 9 Long-term debt (incl. current maturities) 8,228 — 7,473 1 7,474 7,368 — 8,329 1 8,330 IPL September 30, 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 $39 $39 $— $— $39 $32 $32 $— $— $32 Derivatives 202 — 150 52 202 84 — 65 19 84 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 66 — 47 19 66 4 — 3 1 4 Long-term debt 3,645 — 3,228 — 3,228 3,643 — 4,124 — 4,124 WPL September 30, 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 $295 $295 $— $— $295 $— $— $— $— $— Derivatives 158 — 145 13 158 92 — 81 11 92 Liabilities: Derivatives 32 — 31 1 32 5 — 5 — 5 Long-term debt (incl. current maturities) 3,019 — 2,778 — 2,778 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 September 30 2022 2021 2022 2021 Beginning balance, July 1 $72 $39 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (1) 5 — — Transfers out of Level 3 — (8) — — Settlements (a) (26) (7) 4 10 Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($1) $5 $— $— Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net gains (losses) included in changes in net assets (realized/unrealized) (17) 6 — — Transfers out of Level 3 — (8) — — Purchases 79 21 — — Settlements (a) (46) (19) 34 (24) Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($17) $6 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended September 30 2022 2021 2022 2021 Beginning balance, July 1 $58 $30 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (6) 2 — — Transfers out of Level 3 — (8) — — Settlements (a) (19) (5) 4 10 Ending balance, September 30 $33 $19 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($6) $2 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (13) — — — Transfers out of Level 3 — (8) — — Purchases 58 16 — — Settlements (a) (30) (15) 34 (24) Ending balance, September 30 $33 $19 $248 $164 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 September 30 ($14) $— $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended September 30 2022 2021 Beginning balance, July 1 $14 $9 Total net gains included in changes in net assets (realized/unrealized) 5 3 Settlements (7) (2) Ending balance, September 30 $12 $10 The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30 $5 $3 WPL Commodity Contract Derivative Assets and (Liabilities), net Nine Months Ended September 30 2022 2021 Beginning balance, January 1 $11 $3 Total net gains (losses) included in changes in net assets (realized/unrealized) (4) 6 Purchases 21 5 Settlements (16) (4) Ending balance, September 30 $12 $10 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($3) $6 (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 (liabilities) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs September 30, 2022 ($14) $59 ($15) $48 $1 $11 December 31, 2021 9 20 8 10 1 10 |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure | COMMITMENTS AND CONTINGENCIES NOTE 13(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 September 30, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $208 million and $206 million, respectively. NOTE 13(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 September 30, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $1,608 $742 $866 Coal 197 95 102 Other (a) 126 57 28 $1,931 $894 $996 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022. NOTE 13(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 September 30, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $58 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 $58 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 September 30, 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. Whiting Petroleum completed a business combination with Oasis Petroleum Inc. in July 2022. The combined operations are now known as Chord Energy Corporation. The business combination is not expected to affect the scope of the Whiting Petroleum affiliate’s obligations to Alliant Energy or Alliant Energy’s related 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 $59 million as of September 30, 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 September 30, 2022 and December 31, 2021. NOTE 13(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 September 30, 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 September 30, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $9 - $25 $6 - $19 Current and non-current environmental liabilities $12 $8 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 13(e) MISO Transmission Owner Return on Equity Complaints - A group of stakeholders, including MISO cooperative and municipal utilities, previously filed complaints with FERC requesting a reduction to the base return on equity authorized for MISO transmission owners, including ITC Midwest LLC and ATC. In 2019, FERC issued an order on the previously filed complaints and reduced the base return on equity authorized for the MISO transmission owners to 9.88% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In 2020, FERC issued orders in response to various rehearing requests and increased the base return on equity authorized for the MISO transmission owners from 9.88% to 10.02% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit vacated FERC’s prior orders that established the base return on equity authorized for the MISO transmission owners and remanded the cases to FERC for further proceedings, which may result in additional changes to the base return on equity authorized for the MISO transmission owners. As a result of the August 2022 court decision, Alliant Energy recorded a $5 million reduction in “Equity income from unconsolidated investments” in its income statement for the three and nine months ended September 30, 2022 to reflect the anticipated reduction in the base return on equity authorized for the MISO transmission owners. Any further changes in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future earnings and customer costs. |
IPL [Member] | |
Commitments and Contingencies Disclosure | COMMITMENTS AND CONTINGENCIES NOTE 13(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 September 30, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $208 million and $206 million, respectively. NOTE 13(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 September 30, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $1,608 $742 $866 Coal 197 95 102 Other (a) 126 57 28 $1,931 $894 $996 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022. NOTE 13(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 September 30, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $58 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 $58 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 September 30, 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. Whiting Petroleum completed a business combination with Oasis Petroleum Inc. in July 2022. The combined operations are now known as Chord Energy Corporation. The business combination is not expected to affect the scope of the Whiting Petroleum affiliate’s obligations to Alliant Energy or Alliant Energy’s related 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 $59 million as of September 30, 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 September 30, 2022 and December 31, 2021. NOTE 13(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 September 30, 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 September 30, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $9 - $25 $6 - $19 Current and non-current environmental liabilities $12 $8 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 13(e) MISO Transmission Owner Return on Equity Complaints - A group of stakeholders, including MISO cooperative and municipal utilities, previously filed complaints with FERC requesting a reduction to the base return on equity authorized for MISO transmission owners, including ITC Midwest LLC and ATC. In 2019, FERC issued an order on the previously filed complaints and reduced the base return on equity authorized for the MISO transmission owners to 9.88% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In 2020, FERC issued orders in response to various rehearing requests and increased the base return on equity authorized for the MISO transmission owners from 9.88% to 10.02% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit vacated FERC’s prior orders that established the base return on equity authorized for the MISO transmission owners and remanded the cases to FERC for further proceedings, which may result in additional changes to the base return on equity authorized for the MISO transmission owners. As a result of the August 2022 court decision, Alliant Energy recorded a $5 million reduction in “Equity income from unconsolidated investments” in its income statement for the three and nine months ended September 30, 2022 to reflect the anticipated reduction in the base return on equity authorized for the MISO transmission owners. Any further changes in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future earnings and customer costs. |
WPL [Member] | |
Commitments and Contingencies Disclosure | COMMITMENTS AND CONTINGENCIES NOTE 13(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 September 30, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $208 million and $206 million, respectively. NOTE 13(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 September 30, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $1,608 $742 $866 Coal 197 95 102 Other (a) 126 57 28 $1,931 $894 $996 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022. NOTE 13(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 September 30, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $58 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 $58 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 September 30, 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. Whiting Petroleum completed a business combination with Oasis Petroleum Inc. in July 2022. The combined operations are now known as Chord Energy Corporation. The business combination is not expected to affect the scope of the Whiting Petroleum affiliate’s obligations to Alliant Energy or Alliant Energy’s related 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 $59 million as of September 30, 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 September 30, 2022 and December 31, 2021. NOTE 13(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 September 30, 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 September 30, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $9 - $25 $6 - $19 Current and non-current environmental liabilities $12 $8 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 13(e) MISO Transmission Owner Return on Equity Complaints - A group of stakeholders, including MISO cooperative and municipal utilities, previously filed complaints with FERC requesting a reduction to the base return on equity authorized for MISO transmission owners, including ITC Midwest LLC and ATC. In 2019, FERC issued an order on the previously filed complaints and reduced the base return on equity authorized for the MISO transmission owners to 9.88% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In 2020, FERC issued orders in response to various rehearing requests and increased the base return on equity authorized for the MISO transmission owners from 9.88% to 10.02% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit vacated FERC’s prior orders that established the base return on equity authorized for the MISO transmission owners and remanded the cases to FERC for further proceedings, which may result in additional changes to the base return on equity authorized for the MISO transmission owners. As a result of the August 2022 court decision, Alliant Energy recorded a $5 million reduction in “Equity income from unconsolidated investments” in its income statement for the three and nine months ended September 30, 2022 to reflect the anticipated reduction in the base return on equity authorized for the MISO transmission owners. Any further changes in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future earnings and customer costs. |
Segments Of Business
Segments Of Business | 9 Months Ended |
Sep. 30, 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 September 30, 2022 Revenues $1,039 $62 $11 $1,112 $23 $1,135 Operating income (loss) 304 (3) 1 302 7 309 Net income (loss) attributable to Alliant Energy common shareowners 245 (18) 227 Three Months Ended September 30, 2021 Revenues $939 $50 $13 $1,002 $22 $1,024 Operating income (loss) 290 (5) (5) 280 9 289 Net income attributable to Alliant Energy common shareowners 250 6 256 Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Nine Months Ended September 30, 2022 Revenues $2,624 $418 $35 $3,077 $70 $3,147 Operating income 680 62 4 746 23 769 Net income attributable to Alliant Energy common shareowners 574 5 579 Nine Months Ended September 30, 2021 Revenues $2,357 $289 $36 $2,682 $60 $2,742 Operating income (loss) 601 42 (4) 639 24 663 Net income attributable to Alliant Energy common shareowners 537 34 571 IPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $596 $33 $11 $640 Operating income (loss) 174 (3) — 171 Net income available for common stock 154 Three Months Ended September 30, 2021 Revenues $555 $31 $13 $599 Operating income (loss) 186 (3) (3) 180 Net income available for common stock 157 Nine Months Ended September 30, 2022 Revenues $1,438 $224 $34 $1,696 Operating income 353 33 3 389 Net income available for common stock 327 Nine Months Ended September 30, 2021 Revenues $1,343 $165 $35 $1,543 Operating income (loss) 365 30 (1) 394 Net income available for common stock 322 WPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $443 $29 $— $472 Operating income 130 — 1 131 Net income 91 Three Months Ended September 30, 2021 Revenues $384 $19 $— $403 Operating income (loss) 104 (2) (2) 100 Net income 93 Nine Months Ended September 30, 2022 Revenues $1,186 $194 $1 $1,381 Operating income 327 29 1 357 Net income 247 Nine Months Ended September 30, 2021 Revenues $1,014 $124 $1 $1,139 Operating income (loss) 236 12 (3) 245 Net income 215 |
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 September 30, 2022 Revenues $1,039 $62 $11 $1,112 $23 $1,135 Operating income (loss) 304 (3) 1 302 7 309 Net income (loss) attributable to Alliant Energy common shareowners 245 (18) 227 Three Months Ended September 30, 2021 Revenues $939 $50 $13 $1,002 $22 $1,024 Operating income (loss) 290 (5) (5) 280 9 289 Net income attributable to Alliant Energy common shareowners 250 6 256 Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Nine Months Ended September 30, 2022 Revenues $2,624 $418 $35 $3,077 $70 $3,147 Operating income 680 62 4 746 23 769 Net income attributable to Alliant Energy common shareowners 574 5 579 Nine Months Ended September 30, 2021 Revenues $2,357 $289 $36 $2,682 $60 $2,742 Operating income (loss) 601 42 (4) 639 24 663 Net income attributable to Alliant Energy common shareowners 537 34 571 IPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $596 $33 $11 $640 Operating income (loss) 174 (3) — 171 Net income available for common stock 154 Three Months Ended September 30, 2021 Revenues $555 $31 $13 $599 Operating income (loss) 186 (3) (3) 180 Net income available for common stock 157 Nine Months Ended September 30, 2022 Revenues $1,438 $224 $34 $1,696 Operating income 353 33 3 389 Net income available for common stock 327 Nine Months Ended September 30, 2021 Revenues $1,343 $165 $35 $1,543 Operating income (loss) 365 30 (1) 394 Net income available for common stock 322 WPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $443 $29 $— $472 Operating income 130 — 1 131 Net income 91 Three Months Ended September 30, 2021 Revenues $384 $19 $— $403 Operating income (loss) 104 (2) (2) 100 Net income 93 Nine Months Ended September 30, 2022 Revenues $1,186 $194 $1 $1,381 Operating income 327 29 1 357 Net income 247 Nine Months Ended September 30, 2021 Revenues $1,014 $124 $1 $1,139 Operating income (loss) 236 12 (3) 245 Net income 215 |
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 September 30, 2022 Revenues $1,039 $62 $11 $1,112 $23 $1,135 Operating income (loss) 304 (3) 1 302 7 309 Net income (loss) attributable to Alliant Energy common shareowners 245 (18) 227 Three Months Ended September 30, 2021 Revenues $939 $50 $13 $1,002 $22 $1,024 Operating income (loss) 290 (5) (5) 280 9 289 Net income attributable to Alliant Energy common shareowners 250 6 256 Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Nine Months Ended September 30, 2022 Revenues $2,624 $418 $35 $3,077 $70 $3,147 Operating income 680 62 4 746 23 769 Net income attributable to Alliant Energy common shareowners 574 5 579 Nine Months Ended September 30, 2021 Revenues $2,357 $289 $36 $2,682 $60 $2,742 Operating income (loss) 601 42 (4) 639 24 663 Net income attributable to Alliant Energy common shareowners 537 34 571 IPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $596 $33 $11 $640 Operating income (loss) 174 (3) — 171 Net income available for common stock 154 Three Months Ended September 30, 2021 Revenues $555 $31 $13 $599 Operating income (loss) 186 (3) (3) 180 Net income available for common stock 157 Nine Months Ended September 30, 2022 Revenues $1,438 $224 $34 $1,696 Operating income 353 33 3 389 Net income available for common stock 327 Nine Months Ended September 30, 2021 Revenues $1,343 $165 $35 $1,543 Operating income (loss) 365 30 (1) 394 Net income available for common stock 322 WPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $443 $29 $— $472 Operating income 130 — 1 131 Net income 91 Three Months Ended September 30, 2021 Revenues $384 $19 $— $403 Operating income (loss) 104 (2) (2) 100 Net income 93 Nine Months Ended September 30, 2022 Revenues $1,186 $194 $1 $1,381 Operating income 327 29 1 357 Net income 247 Nine Months Ended September 30, 2021 Revenues $1,014 $124 $1 $1,139 Operating income (loss) 236 12 (3) 245 Net income 215 |
Related Parties
Related Parties | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30 were as follows (in millions): IPL WPL Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 Corporate Services billings $45 $50 $136 $138 $39 $37 $117 $113 Sales credited 11 4 11 9 31 16 62 23 Purchases billed 119 105 342 347 42 24 103 71 Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Net payables to Corporate Services $113 $110 $88 $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 and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 ATC billings to WPL $38 $29 $107 $91 WPL billings to ATC 6 4 14 13 WPL owed ATC net amounts of $9 million as of September 30, 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 and nine months ended September 30 were as follows (in millions): IPL WPL Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 Corporate Services billings $45 $50 $136 $138 $39 $37 $117 $113 Sales credited 11 4 11 9 31 16 62 23 Purchases billed 119 105 342 347 42 24 103 71 Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Net payables to Corporate Services $113 $110 $88 $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 and nine months ended September 30 were as follows (in millions): IPL WPL Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 Corporate Services billings $45 $50 $136 $138 $39 $37 $117 $113 Sales credited 11 4 11 9 31 16 62 23 Purchases billed 119 105 342 347 42 24 103 71 Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Net payables to Corporate Services $113 $110 $88 $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 and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 ATC billings to WPL $38 $29 $107 $91 WPL billings to ATC 6 4 14 13 WPL owed ATC net amounts of $9 million as of September 30, 2022 and $10 million as of December 31, 2021. |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 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 and Cash Equivalents | At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%. |
Variable Interest Entities | In 2022, WPL 2022 Solar Holdco, LLC was formed as a joint venture to own and operate project companies responsible for the construction, ownership and operation of various solar generation assets. Members of the joint venture were a WPL subsidiary (the managing member) and a tax equity partner. In the second quarter of 2022, the WPL subsidiary and the tax equity partner contributed $62 million and $29 million, respectively, to WPL 2022 Solar Holdco, LLC in exchange for membership interests, and $88 million of the contributed funds were paid to WPL in exchange for equity interests in the project companies. In the second quarter of 2022, Alliant Energy and WPL consolidated this joint venture as it was a VIE in which WPL held a variable interest, and WPL controlled decisions that were significant to the joint venture’s ongoing operations and economic results (i.e., WPL was the primary beneficiary). In August 2022, the Inflation Reduction Act of 2022 was enacted. Following its enactment, WPL evaluated the provisions of the new legislation and determined that retaining full ownership of the solar projects is expected to result in lower costs for its customers. As a result, in the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership, and WPL returned the $29 million of initial funding to the tax equity partner. Alliant Energy and WPL no longer expect their solar generation project construction costs to be financed with capital from tax equity partners, which would result in higher rate base amounts compared to those previously approved by the PSCW for WPL’s planned approximately 1,100 MW of solar generation. Alliant Energy and WPL concluded that no disallowance of anticipated higher rate base amounts was required as of September 30, 2022 given full ownership of WPL's planned solar generation is expected to result in lower costs for WPL's customers. Refer to Note 6 for discussion of a noncontrolling interest that was initially associated with the joint venture prior to the termination of the tax equity partnership. |
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 and Cash Equivalents | At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 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. |
Cash and Cash Equivalents | At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%. |
Variable Interest Entities | In 2022, WPL 2022 Solar Holdco, LLC was formed as a joint venture to own and operate project companies responsible for the construction, ownership and operation of various solar generation assets. Members of the joint venture were a WPL subsidiary (the managing member) and a tax equity partner. In the second quarter of 2022, the WPL subsidiary and the tax equity partner contributed $62 million and $29 million, respectively, to WPL 2022 Solar Holdco, LLC in exchange for membership interests, and $88 million of the contributed funds were paid to WPL in exchange for equity interests in the project companies. In the second quarter of 2022, Alliant Energy and WPL consolidated this joint venture as it was a VIE in which WPL held a variable interest, and WPL controlled decisions that were significant to the joint venture’s ongoing operations and economic results (i.e., WPL was the primary beneficiary). In August 2022, the Inflation Reduction Act of 2022 was enacted. Following its enactment, WPL evaluated the provisions of the new legislation and determined that retaining full ownership of the solar projects is expected to result in lower costs for its customers. As a result, in the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership, and WPL returned the $29 million of initial funding to the tax equity partner. Alliant Energy and WPL no longer expect their solar generation project construction costs to be financed with capital from tax equity partners, which would result in higher rate base amounts compared to those previously approved by the PSCW for WPL’s planned approximately 1,100 MW of solar generation. Alliant Energy and WPL concluded that no disallowance of anticipated higher rate base amounts was required as of September 30, 2022 given full ownership of WPL's planned solar generation is expected to result in lower costs for WPL's customers. Refer to Note 6 for discussion of a noncontrolling interest that was initially associated with the joint venture prior to the termination of the tax equity partnership. |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Regulatory Assets [Line Items] | |
Regulatory Assets | Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $913 $934 $842 $884 $71 $50 Pension and OPEB costs 436 462 216 228 220 234 Asset retirement obligations 145 128 104 89 41 39 Commodity cost recovery 129 42 2 2 127 40 Derivatives 102 8 67 4 35 4 Assets retired early 75 92 56 66 19 26 IPL’s DAEC PPA amendment 72 90 72 90 — — WPL’s Western Wisconsin gas distribution expansion investments 49 52 — — 49 52 Other 120 132 64 80 56 52 $2,041 $1,940 $1,423 $1,443 $618 $497 |
Regulatory Liabilities | Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $582 $585 $304 $312 $278 $273 Cost of removal obligations 398 384 258 252 140 132 Derivatives 312 166 164 77 148 89 WPL’s West Riverside liquidated damages 33 36 — — 33 36 Electric transmission cost recovery 16 51 4 27 12 24 Other 46 49 31 23 15 26 $1,387 $1,271 $761 $691 $626 $580 |
IPL [Member] | |
Regulatory Assets [Line Items] | |
Regulatory Assets | Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $913 $934 $842 $884 $71 $50 Pension and OPEB costs 436 462 216 228 220 234 Asset retirement obligations 145 128 104 89 41 39 Commodity cost recovery 129 42 2 2 127 40 Derivatives 102 8 67 4 35 4 Assets retired early 75 92 56 66 19 26 IPL’s DAEC PPA amendment 72 90 72 90 — — WPL’s Western Wisconsin gas distribution expansion investments 49 52 — — 49 52 Other 120 132 64 80 56 52 $2,041 $1,940 $1,423 $1,443 $618 $497 |
Regulatory Liabilities | Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $582 $585 $304 $312 $278 $273 Cost of removal obligations 398 384 258 252 140 132 Derivatives 312 166 164 77 148 89 WPL’s West Riverside liquidated damages 33 36 — — 33 36 Electric transmission cost recovery 16 51 4 27 12 24 Other 46 49 31 23 15 26 $1,387 $1,271 $761 $691 $626 $580 |
WPL [Member] | |
Regulatory Assets [Line Items] | |
Regulatory Assets | Regulatory assets were comprised of the following items (in millions): Alliant Energy IPL WPL September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $913 $934 $842 $884 $71 $50 Pension and OPEB costs 436 462 216 228 220 234 Asset retirement obligations 145 128 104 89 41 39 Commodity cost recovery 129 42 2 2 127 40 Derivatives 102 8 67 4 35 4 Assets retired early 75 92 56 66 19 26 IPL’s DAEC PPA amendment 72 90 72 90 — — WPL’s Western Wisconsin gas distribution expansion investments 49 52 — — 49 52 Other 120 132 64 80 56 52 $2,041 $1,940 $1,423 $1,443 $618 $497 |
Regulatory Liabilities | Regulatory liabilities were comprised of the following items (in millions): Alliant Energy IPL WPL September 30, December 31, September 30, December 31, September 30, December 31, Tax-related $582 $585 $304 $312 $278 $273 Cost of removal obligations 398 384 258 252 140 132 Derivatives 312 166 164 77 148 89 WPL’s West Riverside liquidated damages 33 36 — — 33 36 Electric transmission cost recovery 16 51 4 27 12 24 Other 46 49 31 23 15 26 $1,387 $1,271 $761 $691 $626 $580 |
Receivables (Tables)
Receivables (Tables) | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 Maximum outstanding aggregate cash proceeds $36 $110 $66 $110 Average outstanding aggregate cash proceeds 3 65 8 52 |
Attributes of Receivables Sold Under the Receivables Agreement | The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): September 30, 2022 December 31, 2021 Customer accounts receivable $169 $125 Unbilled utility revenues 92 104 Receivables sold to third party 261 229 Less: cash proceeds 1 1 Deferred proceeds 260 228 Less: allowance for expected credit losses 12 14 Fair value of deferred proceeds $248 $214 |
Additional Attributes Of Receivables Sold Under The Receivables Agreement | Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 Collections $670 $607 $1,731 $1,589 Write-offs, net of recoveries 3 4 6 7 |
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 and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 Maximum outstanding aggregate cash proceeds $36 $110 $66 $110 Average outstanding aggregate cash proceeds 3 65 8 52 |
Attributes of Receivables Sold Under the Receivables Agreement | The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions): September 30, 2022 December 31, 2021 Customer accounts receivable $169 $125 Unbilled utility revenues 92 104 Receivables sold to third party 261 229 Less: cash proceeds 1 1 Deferred proceeds 260 228 Less: allowance for expected credit losses 12 14 Fair value of deferred proceeds $248 $214 |
Additional Attributes Of Receivables Sold Under The Receivables Agreement | Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 Collections $670 $607 $1,731 $1,589 Write-offs, net of recoveries 3 4 6 7 |
Investments (Tables)
Investments (Tables) | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30 was as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 ATC Holdings ($7) ($12) ($29) ($34) Other 2 (1) (8) (13) ($5) ($13) ($37) ($47) |
Common Equity (Tables)
Common Equity (Tables) | 9 Months Ended |
Sep. 30, 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 324,533 Equity-based compensation plans 222,768 Shares outstanding, September 30, 2022 251,021,830 |
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 Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $3 $2,759 $3,387 $— ($12) $29 $6,166 Net income attributable to Alliant Energy common shareowners 227 227 Common stock dividends ($0.4275 per share) (106) (106) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 2 (1) 1 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 September 30, 2021 Beginning balance, June 30, 2021 $3 $2,722 $3,106 ($1) ($11) $200 $6,019 Net income attributable to Alliant Energy common shareowners 256 256 Common stock dividends ($0.4025 per share) (101) (101) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 5 5 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 579 579 Common stock dividends ($1.2825 per share) (322) (322) Shareowner Direct Plan issuances 19 19 Equity-based compensation plans and other (1) 1 (1) (1) Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 571 571 Common stock dividends ($1.2075 per share) (304) (304) Shareowner Direct Plan issuances 1 21 22 Equity-based compensation plans and other 8 8 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $33 $2,807 $942 $— $3,782 Net income available for common stock 154 154 Common stock dividends (80) (80) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $33 $2,802 $944 $200 $3,979 Net income available for common stock 157 157 Common stock dividends (101) (101) Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 327 327 Common stock dividends (240) (240) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 322 322 Common stock dividends (301) (301) Capital contributions from parent 50 50 Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $66 $1,968 $1,120 $29 $3,183 Net income 91 91 Common stock dividends (44) (44) Capital contributions from parent 155 155 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $66 $1,669 $990 $— $2,725 Net income 93 93 Common stock dividends (41) (41) Capital contributions from parent 35 35 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $— $2,823 Net income 247 247 Common stock dividends (133) (133) Capital contributions from parent 420 420 Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Other (1) (1) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $— $2,478 Net income 215 215 Common stock dividends (126) (126) Capital contributions from parent 245 245 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 |
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 Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $3 $2,759 $3,387 $— ($12) $29 $6,166 Net income attributable to Alliant Energy common shareowners 227 227 Common stock dividends ($0.4275 per share) (106) (106) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 2 (1) 1 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 September 30, 2021 Beginning balance, June 30, 2021 $3 $2,722 $3,106 ($1) ($11) $200 $6,019 Net income attributable to Alliant Energy common shareowners 256 256 Common stock dividends ($0.4025 per share) (101) (101) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 5 5 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 579 579 Common stock dividends ($1.2825 per share) (322) (322) Shareowner Direct Plan issuances 19 19 Equity-based compensation plans and other (1) 1 (1) (1) Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 571 571 Common stock dividends ($1.2075 per share) (304) (304) Shareowner Direct Plan issuances 1 21 22 Equity-based compensation plans and other 8 8 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $33 $2,807 $942 $— $3,782 Net income available for common stock 154 154 Common stock dividends (80) (80) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $33 $2,802 $944 $200 $3,979 Net income available for common stock 157 157 Common stock dividends (101) (101) Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 327 327 Common stock dividends (240) (240) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 322 322 Common stock dividends (301) (301) Capital contributions from parent 50 50 Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $66 $1,968 $1,120 $29 $3,183 Net income 91 91 Common stock dividends (44) (44) Capital contributions from parent 155 155 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $66 $1,669 $990 $— $2,725 Net income 93 93 Common stock dividends (41) (41) Capital contributions from parent 35 35 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $— $2,823 Net income 247 247 Common stock dividends (133) (133) Capital contributions from parent 420 420 Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Other (1) (1) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $— $2,478 Net income 215 215 Common stock dividends (126) (126) Capital contributions from parent 245 245 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 |
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 Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $3 $2,759 $3,387 $— ($12) $29 $6,166 Net income attributable to Alliant Energy common shareowners 227 227 Common stock dividends ($0.4275 per share) (106) (106) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 2 (1) 1 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 September 30, 2021 Beginning balance, June 30, 2021 $3 $2,722 $3,106 ($1) ($11) $200 $6,019 Net income attributable to Alliant Energy common shareowners 256 256 Common stock dividends ($0.4025 per share) (101) (101) Shareowner Direct Plan issuances 6 6 Equity-based compensation plans and other 5 5 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 Alliant Energy Total Alliant Energy Common Equity Accumulated Shares in Additional Other Deferred Common Paid-In Retained Comprehensive Compensation Noncontrolling Total Stock Capital Earnings Loss Trust Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $3 $2,749 $3,250 $— ($12) $— $5,990 Net income attributable to Alliant Energy common shareowners 579 579 Common stock dividends ($1.2825 per share) (322) (322) Shareowner Direct Plan issuances 19 19 Equity-based compensation plans and other (1) 1 (1) (1) Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $3 $2,767 $3,508 $— ($13) $— $6,265 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 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $2 $2,704 $2,994 ($1) ($11) $200 $5,888 Net income attributable to Alliant Energy common shareowners 571 571 Common stock dividends ($1.2075 per share) (304) (304) Shareowner Direct Plan issuances 1 21 22 Equity-based compensation plans and other 8 8 Ending balance, September 30, 2021 $3 $2,733 $3,261 ($1) ($11) $200 $6,185 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $33 $2,807 $942 $— $3,782 Net income available for common stock 154 154 Common stock dividends (80) (80) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $33 $2,802 $944 $200 $3,979 Net income available for common stock 157 157 Common stock dividends (101) (101) Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 IPL Total IPL Common Equity Additional Cumulative Common Paid-In Retained Preferred Total Stock Capital Earnings Stock Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $33 $2,807 $929 $— $3,769 Net income available for common stock 327 327 Common stock dividends (240) (240) Ending balance, September 30, 2022 $33 $2,807 $1,016 $— $3,856 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $33 $2,752 $979 $200 $3,964 Net income available for common stock 322 322 Common stock dividends (301) (301) Capital contributions from parent 50 50 Ending balance, September 30, 2021 $33 $2,802 $1,000 $200 $4,035 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Three Months Ended September 30, 2022 Beginning balance, June 30, 2022 $66 $1,968 $1,120 $29 $3,183 Net income 91 91 Common stock dividends (44) (44) Capital contributions from parent 155 155 Distributions to noncontrolling interest (29) (29) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Three Months Ended September 30, 2021 Beginning balance, June 30, 2021 $66 $1,669 $990 $— $2,725 Net income 93 93 Common stock dividends (41) (41) Capital contributions from parent 35 35 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 WPL Total WPL Common Equity Additional Common Paid-In Retained Noncontrolling Total Stock Capital Earnings Interest Equity Nine Months Ended September 30, 2022 Beginning balance, December 31, 2021 $66 $1,704 $1,053 $— $2,823 Net income 247 247 Common stock dividends (133) (133) Capital contributions from parent 420 420 Contributions from noncontrolling interest 29 29 Distributions to noncontrolling interest (29) (29) Other (1) (1) Ending balance, September 30, 2022 $66 $2,123 $1,167 $— $3,356 Nine Months Ended September 30, 2021 Beginning balance, December 31, 2020 $66 $1,459 $953 $— $2,478 Net income 215 215 Common stock dividends (126) (126) Capital contributions from parent 245 245 Ending balance, September 30, 2021 $66 $1,704 $1,042 $— $2,812 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 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): September 30, 2022 Alliant Energy IPL WPL Amount outstanding $383 $— $— Weighted average interest rates 3.4% N/A N/A Available credit facility capacity $617 $250 $300 Alliant Energy IPL WPL Three Months Ended September 30 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $449 $648 $— $8 $251 $320 Average amount outstanding (based on daily outstanding balances) $353 $560 $— $— $110 $221 Weighted average interest rates 2.4% 0.2% —% 0.2% 2.0% 0.1% Nine Months Ended September 30 Maximum amount outstanding (based on daily outstanding balances) $577 $648 $— $19 $252 $320 Average amount outstanding (based on daily outstanding balances) $377 $479 $— $— $160 $196 Weighted average interest rates 1.2% 0.2% —% 0.2% 0.9% 0.1% |
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): September 30, 2022 Alliant Energy IPL WPL Amount outstanding $383 $— $— Weighted average interest rates 3.4% N/A N/A Available credit facility capacity $617 $250 $300 Alliant Energy IPL WPL Three Months Ended September 30 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $449 $648 $— $8 $251 $320 Average amount outstanding (based on daily outstanding balances) $353 $560 $— $— $110 $221 Weighted average interest rates 2.4% 0.2% —% 0.2% 2.0% 0.1% Nine Months Ended September 30 Maximum amount outstanding (based on daily outstanding balances) $577 $648 $— $19 $252 $320 Average amount outstanding (based on daily outstanding balances) $377 $479 $— $— $160 $196 Weighted average interest rates 1.2% 0.2% —% 0.2% 0.9% 0.1% |
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): September 30, 2022 Alliant Energy IPL WPL Amount outstanding $383 $— $— Weighted average interest rates 3.4% N/A N/A Available credit facility capacity $617 $250 $300 Alliant Energy IPL WPL Three Months Ended September 30 2022 2021 2022 2021 2022 2021 Maximum amount outstanding (based on daily outstanding balances) $449 $648 $— $8 $251 $320 Average amount outstanding (based on daily outstanding balances) $353 $560 $— $— $110 $221 Weighted average interest rates 2.4% 0.2% —% 0.2% 2.0% 0.1% Nine Months Ended September 30 Maximum amount outstanding (based on daily outstanding balances) $577 $648 $— $19 $252 $320 Average amount outstanding (based on daily outstanding balances) $377 $479 $— $— $160 $196 Weighted average interest rates 1.2% 0.2% —% 0.2% 0.9% 0.1% |
Revenues (Tables)
Revenues (Tables) | 9 Months Ended |
Sep. 30, 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 September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $376 $348 $222 $207 $154 $141 Retail - commercial 243 232 165 160 78 72 Retail - industrial 289 265 172 158 117 107 Wholesale 68 55 19 18 49 37 Bulk power and other 63 39 18 12 45 27 Total Electric Utility 1,039 939 596 555 443 384 Gas Utility: Retail - residential 28 24 14 14 14 10 Retail - commercial 18 13 8 8 10 5 Retail - industrial 4 3 3 3 1 — Transportation/other 12 10 8 6 4 4 Total Gas Utility 62 50 33 31 29 19 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 4 — — Total Other Utility 11 13 11 13 — — Non-Utility and Other: Travero and other 23 22 — — — — Total Non-Utility and Other 23 22 — — — — Total revenues $1,135 $1,024 $640 $599 $472 $403 Alliant Energy IPL WPL Nine Months Ended September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $956 $868 $529 $488 $427 $380 Retail - commercial 628 579 411 385 217 194 Retail - industrial 743 677 418 386 325 291 Wholesale 168 142 49 44 119 98 Bulk power and other 129 91 31 40 98 51 Total Electric Utility 2,624 2,357 1,438 1,343 1,186 1,014 Gas Utility: Retail - residential 237 162 127 90 110 72 Retail - commercial 127 85 62 47 65 38 Retail - industrial 15 11 10 8 5 3 Transportation/other 39 31 25 20 14 11 Total Gas Utility 418 289 224 165 194 124 Other Utility: Steam 29 27 29 27 — — Other utility 6 9 5 8 1 1 Total Other Utility 35 36 34 35 1 1 Non-Utility and Other: Travero and other 70 60 — — — — Total Non-Utility and Other 70 60 — — — — Total revenues $3,147 $2,742 $1,696 $1,543 $1,381 $1,139 |
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 September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $376 $348 $222 $207 $154 $141 Retail - commercial 243 232 165 160 78 72 Retail - industrial 289 265 172 158 117 107 Wholesale 68 55 19 18 49 37 Bulk power and other 63 39 18 12 45 27 Total Electric Utility 1,039 939 596 555 443 384 Gas Utility: Retail - residential 28 24 14 14 14 10 Retail - commercial 18 13 8 8 10 5 Retail - industrial 4 3 3 3 1 — Transportation/other 12 10 8 6 4 4 Total Gas Utility 62 50 33 31 29 19 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 4 — — Total Other Utility 11 13 11 13 — — Non-Utility and Other: Travero and other 23 22 — — — — Total Non-Utility and Other 23 22 — — — — Total revenues $1,135 $1,024 $640 $599 $472 $403 Alliant Energy IPL WPL Nine Months Ended September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $956 $868 $529 $488 $427 $380 Retail - commercial 628 579 411 385 217 194 Retail - industrial 743 677 418 386 325 291 Wholesale 168 142 49 44 119 98 Bulk power and other 129 91 31 40 98 51 Total Electric Utility 2,624 2,357 1,438 1,343 1,186 1,014 Gas Utility: Retail - residential 237 162 127 90 110 72 Retail - commercial 127 85 62 47 65 38 Retail - industrial 15 11 10 8 5 3 Transportation/other 39 31 25 20 14 11 Total Gas Utility 418 289 224 165 194 124 Other Utility: Steam 29 27 29 27 — — Other utility 6 9 5 8 1 1 Total Other Utility 35 36 34 35 1 1 Non-Utility and Other: Travero and other 70 60 — — — — Total Non-Utility and Other 70 60 — — — — Total revenues $3,147 $2,742 $1,696 $1,543 $1,381 $1,139 |
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 September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $376 $348 $222 $207 $154 $141 Retail - commercial 243 232 165 160 78 72 Retail - industrial 289 265 172 158 117 107 Wholesale 68 55 19 18 49 37 Bulk power and other 63 39 18 12 45 27 Total Electric Utility 1,039 939 596 555 443 384 Gas Utility: Retail - residential 28 24 14 14 14 10 Retail - commercial 18 13 8 8 10 5 Retail - industrial 4 3 3 3 1 — Transportation/other 12 10 8 6 4 4 Total Gas Utility 62 50 33 31 29 19 Other Utility: Steam 9 9 9 9 — — Other utility 2 4 2 4 — — Total Other Utility 11 13 11 13 — — Non-Utility and Other: Travero and other 23 22 — — — — Total Non-Utility and Other 23 22 — — — — Total revenues $1,135 $1,024 $640 $599 $472 $403 Alliant Energy IPL WPL Nine Months Ended September 30 2022 2021 2022 2021 2022 2021 Electric Utility: Retail - residential $956 $868 $529 $488 $427 $380 Retail - commercial 628 579 411 385 217 194 Retail - industrial 743 677 418 386 325 291 Wholesale 168 142 49 44 119 98 Bulk power and other 129 91 31 40 98 51 Total Electric Utility 2,624 2,357 1,438 1,343 1,186 1,014 Gas Utility: Retail - residential 237 162 127 90 110 72 Retail - commercial 127 85 62 47 65 38 Retail - industrial 15 11 10 8 5 3 Transportation/other 39 31 25 20 14 11 Total Gas Utility 418 289 224 165 194 124 Other Utility: Steam 29 27 29 27 — — Other utility 6 9 5 8 1 1 Total Other Utility 35 36 34 35 1 1 Non-Utility and Other: Travero and other 70 60 — — — — Total Non-Utility and Other 70 60 — — — — Total revenues $3,147 $2,742 $1,696 $1,543 $1,381 $1,139 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Overall income tax rate 6% (9%) 4% (13%) (12%) (8%) (14%) (11%) 15% (19%) 17% (24%) |
Summary Of Tax Credit Carryforwards | At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL State net operating losses 2022-2042 $500 $9 $2 Federal tax credits 2022-2042 655 437 208 |
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 and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Overall income tax rate 6% (9%) 4% (13%) (12%) (8%) (14%) (11%) 15% (19%) 17% (24%) |
Summary Of Tax Credit Carryforwards | At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL State net operating losses 2022-2042 $500 $9 $2 Federal tax credits 2022-2042 655 437 208 |
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 and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL. Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Overall income tax rate 6% (9%) 4% (13%) (12%) (8%) (14%) (11%) 15% (19%) 17% (24%) |
Summary Of Tax Credit Carryforwards | At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions): Range of Expiration Dates Alliant Energy IPL WPL State net operating losses 2022-2042 $500 $9 $2 Federal tax credits 2022-2042 655 437 208 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30 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 Three Months Nine Months Three Months Nine Months Alliant Energy 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $3 $2 $7 $8 $— $1 $2 $3 Interest cost 9 9 27 26 1 1 4 3 Expected return on plan assets (18) (17) (52) (51) — (1) (3) (3) Amortization of prior service credit — (1) — (1) — — — — Amortization of actuarial loss 8 10 24 29 1 1 2 3 $2 $3 $6 $11 $2 $2 $5 $6 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months IPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $1 $1 $4 $5 $— $— $1 $1 Interest cost 4 4 12 12 1 1 2 2 Expected return on plan assets (7) (8) (23) (24) (1) (1) (3) (3) Amortization of actuarial loss 3 5 10 13 — — — 1 $1 $2 $3 $6 $— $— $— $1 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months WPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $— $1 $2 $3 $— $1 $— $1 Interest cost 4 3 12 11 1 — 2 1 Expected return on plan assets (7) (8) (23) (23) — — — — Amortization of actuarial loss 4 5 12 14 — 1 1 2 $1 $1 $3 $5 $1 $2 $3 $4 |
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 and nine months ended September 30 was as follows (in millions): Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Compensation expense $3 $4 $9 $9 $2 $2 $5 $5 $1 $2 $4 $4 Income tax benefits 1 1 3 3 — — 1 1 — — 1 1 |
Schedule Of Equity-based Compensation Plans Activity | For the nine months ended September 30, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees under existing plans 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 74,106 $54.45 Performance restricted stock units 84,670 57.01 Restricted stock units 77,122 56.88 |
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 and nine months ended September 30 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 Three Months Nine Months Three Months Nine Months Alliant Energy 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $3 $2 $7 $8 $— $1 $2 $3 Interest cost 9 9 27 26 1 1 4 3 Expected return on plan assets (18) (17) (52) (51) — (1) (3) (3) Amortization of prior service credit — (1) — (1) — — — — Amortization of actuarial loss 8 10 24 29 1 1 2 3 $2 $3 $6 $11 $2 $2 $5 $6 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months IPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $1 $1 $4 $5 $— $— $1 $1 Interest cost 4 4 12 12 1 1 2 2 Expected return on plan assets (7) (8) (23) (24) (1) (1) (3) (3) Amortization of actuarial loss 3 5 10 13 — — — 1 $1 $2 $3 $6 $— $— $— $1 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months WPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $— $1 $2 $3 $— $1 $— $1 Interest cost 4 3 12 11 1 — 2 1 Expected return on plan assets (7) (8) (23) (23) — — — — Amortization of actuarial loss 4 5 12 14 — 1 1 2 $1 $1 $3 $5 $1 $2 $3 $4 |
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 and nine months ended September 30 was as follows (in millions): Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Compensation expense $3 $4 $9 $9 $2 $2 $5 $5 $1 $2 $4 $4 Income tax benefits 1 1 3 3 — — 1 1 — — 1 1 |
Schedule Of Equity-based Compensation Plans Activity | For the nine months ended September 30, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees under existing plans 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 74,106 $54.45 Performance restricted stock units 84,670 57.01 Restricted stock units 77,122 56.88 |
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 and nine months ended September 30 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 Three Months Nine Months Three Months Nine Months Alliant Energy 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $3 $2 $7 $8 $— $1 $2 $3 Interest cost 9 9 27 26 1 1 4 3 Expected return on plan assets (18) (17) (52) (51) — (1) (3) (3) Amortization of prior service credit — (1) — (1) — — — — Amortization of actuarial loss 8 10 24 29 1 1 2 3 $2 $3 $6 $11 $2 $2 $5 $6 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months IPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $1 $1 $4 $5 $— $— $1 $1 Interest cost 4 4 12 12 1 1 2 2 Expected return on plan assets (7) (8) (23) (24) (1) (1) (3) (3) Amortization of actuarial loss 3 5 10 13 — — — 1 $1 $2 $3 $6 $— $— $— $1 Defined Benefit Pension Plans OPEB Plans Three Months Nine Months Three Months Nine Months WPL 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $— $1 $2 $3 $— $1 $— $1 Interest cost 4 3 12 11 1 — 2 1 Expected return on plan assets (7) (8) (23) (23) — — — — Amortization of actuarial loss 4 5 12 14 — 1 1 2 $1 $1 $3 $5 $1 $2 $3 $4 |
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 and nine months ended September 30 was as follows (in millions): Alliant Energy IPL WPL Three Months Nine Months Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Compensation expense $3 $4 $9 $9 $2 $2 $5 $5 $1 $2 $4 $4 Income tax benefits 1 1 3 3 — — 1 1 — — 1 1 |
Schedule Of Equity-based Compensation Plans Activity | For the nine months ended September 30, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees under existing plans 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 74,106 $54.45 Performance restricted stock units 84,670 57.01 Restricted stock units 77,122 56.88 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments [Line Items] | |
Notional Amounts Of Derivative Instruments | As of September 30, 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): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 1,379 2022-2024 14,454 2022-2023 249,508 2022-2032 1,566 2022-2023 756 2022 IPL 768 2022-2024 6,165 2022-2023 135,193 2022-2030 669 2022-2023 — — WPL 611 2022-2023 8,289 2022-2023 114,315 2022-2032 897 2022-2023 756 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 September 30, December 31, September 30, December 31, September 30, December 31, Current derivative assets $200 $113 $117 $48 $83 $65 Non-current derivative assets 160 63 85 36 75 27 Current derivative liabilities 71 8 54 4 17 4 Non-current derivative liabilities 27 1 12 — 15 1 |
Balance Sheet Offsetting | However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions): Alliant Energy IPL WPL Gross Gross Gross (as reported) Net (as reported) Net (as reported) Net September 30, 2022 Derivative assets $360 $308 $202 $165 $158 $143 Derivative liabilities 98 46 66 29 32 17 December 31, 2021 Derivative assets 176 171 84 83 92 88 Derivative liabilities 9 4 4 3 5 1 |
IPL [Member] | |
Derivative Instruments [Line Items] | |
Notional Amounts Of Derivative Instruments | As of September 30, 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): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 1,379 2022-2024 14,454 2022-2023 249,508 2022-2032 1,566 2022-2023 756 2022 IPL 768 2022-2024 6,165 2022-2023 135,193 2022-2030 669 2022-2023 — — WPL 611 2022-2023 8,289 2022-2023 114,315 2022-2032 897 2022-2023 756 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 September 30, December 31, September 30, December 31, September 30, December 31, Current derivative assets $200 $113 $117 $48 $83 $65 Non-current derivative assets 160 63 85 36 75 27 Current derivative liabilities 71 8 54 4 17 4 Non-current derivative liabilities 27 1 12 — 15 1 |
Balance Sheet Offsetting | However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions): Alliant Energy IPL WPL Gross Gross Gross (as reported) Net (as reported) Net (as reported) Net September 30, 2022 Derivative assets $360 $308 $202 $165 $158 $143 Derivative liabilities 98 46 66 29 32 17 December 31, 2021 Derivative assets 176 171 84 83 92 88 Derivative liabilities 9 4 4 3 5 1 |
WPL [Member] | |
Derivative Instruments [Line Items] | |
Notional Amounts Of Derivative Instruments | As of September 30, 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): Electricity FTRs Natural Gas Coal Diesel Fuel MWhs Years MWhs Years Dths Years Tons Years Gallons Years Alliant Energy 1,379 2022-2024 14,454 2022-2023 249,508 2022-2032 1,566 2022-2023 756 2022 IPL 768 2022-2024 6,165 2022-2023 135,193 2022-2030 669 2022-2023 — — WPL 611 2022-2023 8,289 2022-2023 114,315 2022-2032 897 2022-2023 756 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 September 30, December 31, September 30, December 31, September 30, December 31, Current derivative assets $200 $113 $117 $48 $83 $65 Non-current derivative assets 160 63 85 36 75 27 Current derivative liabilities 71 8 54 4 17 4 Non-current derivative liabilities 27 1 12 — 15 1 |
Balance Sheet Offsetting | However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions): Alliant Energy IPL WPL Gross Gross Gross (as reported) Net (as reported) Net (as reported) Net September 30, 2022 Derivative assets $360 $308 $202 $165 $158 $143 Derivative liabilities 98 46 66 29 32 17 December 31, 2021 Derivative assets 176 171 84 83 92 88 Derivative liabilities 9 4 4 3 5 1 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 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 $334 $334 $— $— $334 $32 $32 $— $— $32 Derivatives 360 — 295 65 360 176 — 146 30 176 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 98 — 78 20 98 9 — 8 1 9 Long-term debt (incl. current maturities) 8,228 — 7,473 1 7,474 7,368 — 8,329 1 8,330 IPL September 30, 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 $39 $39 $— $— $39 $32 $32 $— $— $32 Derivatives 202 — 150 52 202 84 — 65 19 84 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 66 — 47 19 66 4 — 3 1 4 Long-term debt 3,645 — 3,228 — 3,228 3,643 — 4,124 — 4,124 WPL September 30, 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 $295 $295 $— $— $295 $— $— $— $— $— Derivatives 158 — 145 13 158 92 — 81 11 92 Liabilities: Derivatives 32 — 31 1 32 5 — 5 — 5 Long-term debt (incl. current maturities) 3,019 — 2,778 — 2,778 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 September 30 2022 2021 2022 2021 Beginning balance, July 1 $72 $39 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (1) 5 — — Transfers out of Level 3 — (8) — — Settlements (a) (26) (7) 4 10 Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($1) $5 $— $— Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net gains (losses) included in changes in net assets (realized/unrealized) (17) 6 — — Transfers out of Level 3 — (8) — — Purchases 79 21 — — Settlements (a) (46) (19) 34 (24) Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($17) $6 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended September 30 2022 2021 2022 2021 Beginning balance, July 1 $58 $30 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (6) 2 — — Transfers out of Level 3 — (8) — — Settlements (a) (19) (5) 4 10 Ending balance, September 30 $33 $19 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($6) $2 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (13) — — — Transfers out of Level 3 — (8) — — Purchases 58 16 — — Settlements (a) (30) (15) 34 (24) Ending balance, September 30 $33 $19 $248 $164 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 September 30 ($14) $— $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended September 30 2022 2021 Beginning balance, July 1 $14 $9 Total net gains included in changes in net assets (realized/unrealized) 5 3 Settlements (7) (2) Ending balance, September 30 $12 $10 The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30 $5 $3 WPL Commodity Contract Derivative Assets and (Liabilities), net Nine Months Ended September 30 2022 2021 Beginning balance, January 1 $11 $3 Total net gains (losses) included in changes in net assets (realized/unrealized) (4) 6 Purchases 21 5 Settlements (16) (4) Ending balance, September 30 $12 $10 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($3) $6 (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 (Liabilities) | The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs September 30, 2022 ($14) $59 ($15) $48 $1 $11 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 September 30, 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 $334 $334 $— $— $334 $32 $32 $— $— $32 Derivatives 360 — 295 65 360 176 — 146 30 176 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 98 — 78 20 98 9 — 8 1 9 Long-term debt (incl. current maturities) 8,228 — 7,473 1 7,474 7,368 — 8,329 1 8,330 IPL September 30, 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 $39 $39 $— $— $39 $32 $32 $— $— $32 Derivatives 202 — 150 52 202 84 — 65 19 84 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 66 — 47 19 66 4 — 3 1 4 Long-term debt 3,645 — 3,228 — 3,228 3,643 — 4,124 — 4,124 WPL September 30, 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 $295 $295 $— $— $295 $— $— $— $— $— Derivatives 158 — 145 13 158 92 — 81 11 92 Liabilities: Derivatives 32 — 31 1 32 5 — 5 — 5 Long-term debt (incl. current maturities) 3,019 — 2,778 — 2,778 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 September 30 2022 2021 2022 2021 Beginning balance, July 1 $72 $39 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (1) 5 — — Transfers out of Level 3 — (8) — — Settlements (a) (26) (7) 4 10 Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($1) $5 $— $— Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net gains (losses) included in changes in net assets (realized/unrealized) (17) 6 — — Transfers out of Level 3 — (8) — — Purchases 79 21 — — Settlements (a) (46) (19) 34 (24) Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($17) $6 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended September 30 2022 2021 2022 2021 Beginning balance, July 1 $58 $30 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (6) 2 — — Transfers out of Level 3 — (8) — — Settlements (a) (19) (5) 4 10 Ending balance, September 30 $33 $19 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($6) $2 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (13) — — — Transfers out of Level 3 — (8) — — Purchases 58 16 — — Settlements (a) (30) (15) 34 (24) Ending balance, September 30 $33 $19 $248 $164 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 September 30 ($14) $— $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended September 30 2022 2021 Beginning balance, July 1 $14 $9 Total net gains included in changes in net assets (realized/unrealized) 5 3 Settlements (7) (2) Ending balance, September 30 $12 $10 The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30 $5 $3 WPL Commodity Contract Derivative Assets and (Liabilities), net Nine Months Ended September 30 2022 2021 Beginning balance, January 1 $11 $3 Total net gains (losses) included in changes in net assets (realized/unrealized) (4) 6 Purchases 21 5 Settlements (16) (4) Ending balance, September 30 $12 $10 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($3) $6 (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 (Liabilities) | The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs September 30, 2022 ($14) $59 ($15) $48 $1 $11 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 September 30, 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 $334 $334 $— $— $334 $32 $32 $— $— $32 Derivatives 360 — 295 65 360 176 — 146 30 176 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 98 — 78 20 98 9 — 8 1 9 Long-term debt (incl. current maturities) 8,228 — 7,473 1 7,474 7,368 — 8,329 1 8,330 IPL September 30, 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 $39 $39 $— $— $39 $32 $32 $— $— $32 Derivatives 202 — 150 52 202 84 — 65 19 84 Deferred proceeds 248 — — 248 248 214 — — 214 214 Liabilities: Derivatives 66 — 47 19 66 4 — 3 1 4 Long-term debt 3,645 — 3,228 — 3,228 3,643 — 4,124 — 4,124 WPL September 30, 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 $295 $295 $— $— $295 $— $— $— $— $— Derivatives 158 — 145 13 158 92 — 81 11 92 Liabilities: Derivatives 32 — 31 1 32 5 — 5 — 5 Long-term debt (incl. current maturities) 3,019 — 2,778 — 2,778 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 September 30 2022 2021 2022 2021 Beginning balance, July 1 $72 $39 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (1) 5 — — Transfers out of Level 3 — (8) — — Settlements (a) (26) (7) 4 10 Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($1) $5 $— $— Alliant Energy Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $29 $29 $214 $188 Total net gains (losses) included in changes in net assets (realized/unrealized) (17) 6 — — Transfers out of Level 3 — (8) — — Purchases 79 21 — — Settlements (a) (46) (19) 34 (24) Ending balance, September 30 $45 $29 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($17) $6 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Three Months Ended September 30 2022 2021 2022 2021 Beginning balance, July 1 $58 $30 $244 $154 Total net gains (losses) included in changes in net assets (realized/unrealized) (6) 2 — — Transfers out of Level 3 — (8) — — Settlements (a) (19) (5) 4 10 Ending balance, September 30 $33 $19 $248 $164 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($6) $2 $— $— IPL Commodity Contract Derivative Assets and (Liabilities), net Deferred Proceeds Nine Months Ended September 30 2022 2021 2022 2021 Beginning balance, January 1 $18 $26 $214 $188 Total net losses included in changes in net assets (realized/unrealized) (13) — — — Transfers out of Level 3 — (8) — — Purchases 58 16 — — Settlements (a) (30) (15) 34 (24) Ending balance, September 30 $33 $19 $248 $164 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 September 30 ($14) $— $— $— WPL Commodity Contract Derivative Assets and (Liabilities), net Three Months Ended September 30 2022 2021 Beginning balance, July 1 $14 $9 Total net gains included in changes in net assets (realized/unrealized) 5 3 Settlements (7) (2) Ending balance, September 30 $12 $10 The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30 $5 $3 WPL Commodity Contract Derivative Assets and (Liabilities), net Nine Months Ended September 30 2022 2021 Beginning balance, January 1 $11 $3 Total net gains (losses) included in changes in net assets (realized/unrealized) (4) 6 Purchases 21 5 Settlements (16) (4) Ending balance, September 30 $12 $10 The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 ($3) $6 (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 (Liabilities) | The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions): Alliant Energy IPL WPL Excluding FTRs FTRs Excluding FTRs FTRs Excluding FTRs FTRs September 30, 2022 ($14) $59 ($15) $48 $1 $11 December 31, 2021 9 20 8 10 1 10 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies [Line Items] | |
Other Purchase Commitments | At September 30, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $1,608 $742 $866 Coal 197 95 102 Other (a) 126 57 28 $1,931 $894 $996 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022. |
MGP Site Estimated Future Costs And Recorded Liabilities | At September 30, 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 September 30, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $9 - $25 $6 - $19 Current and non-current environmental liabilities $12 $8 |
IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Other Purchase Commitments | At September 30, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $1,608 $742 $866 Coal 197 95 102 Other (a) 126 57 28 $1,931 $894 $996 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022. |
MGP Site Estimated Future Costs And Recorded Liabilities | At September 30, 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 September 30, 2022, such amounts for WPL were not material. Alliant Energy IPL Range of estimated future costs $9 - $25 $6 - $19 Current and non-current environmental liabilities $12 $8 |
WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Other Purchase Commitments | At September 30, 2022, related minimum future commitments were as follows (in millions): Alliant Energy IPL WPL Natural gas $1,608 $742 $866 Coal 197 95 102 Other (a) 126 57 28 $1,931 $894 $996 (a) Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022. |
Segments Of Business (Tables)
Segments Of Business (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2022 Revenues $1,039 $62 $11 $1,112 $23 $1,135 Operating income (loss) 304 (3) 1 302 7 309 Net income (loss) attributable to Alliant Energy common shareowners 245 (18) 227 Three Months Ended September 30, 2021 Revenues $939 $50 $13 $1,002 $22 $1,024 Operating income (loss) 290 (5) (5) 280 9 289 Net income attributable to Alliant Energy common shareowners 250 6 256 Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Nine Months Ended September 30, 2022 Revenues $2,624 $418 $35 $3,077 $70 $3,147 Operating income 680 62 4 746 23 769 Net income attributable to Alliant Energy common shareowners 574 5 579 Nine Months Ended September 30, 2021 Revenues $2,357 $289 $36 $2,682 $60 $2,742 Operating income (loss) 601 42 (4) 639 24 663 Net income attributable to Alliant Energy common shareowners 537 34 571 IPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $596 $33 $11 $640 Operating income (loss) 174 (3) — 171 Net income available for common stock 154 Three Months Ended September 30, 2021 Revenues $555 $31 $13 $599 Operating income (loss) 186 (3) (3) 180 Net income available for common stock 157 Nine Months Ended September 30, 2022 Revenues $1,438 $224 $34 $1,696 Operating income 353 33 3 389 Net income available for common stock 327 Nine Months Ended September 30, 2021 Revenues $1,343 $165 $35 $1,543 Operating income (loss) 365 30 (1) 394 Net income available for common stock 322 WPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $443 $29 $— $472 Operating income 130 — 1 131 Net income 91 Three Months Ended September 30, 2021 Revenues $384 $19 $— $403 Operating income (loss) 104 (2) (2) 100 Net income 93 Nine Months Ended September 30, 2022 Revenues $1,186 $194 $1 $1,381 Operating income 327 29 1 357 Net income 247 Nine Months Ended September 30, 2021 Revenues $1,014 $124 $1 $1,139 Operating income (loss) 236 12 (3) 245 Net income 215 |
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 September 30, 2022 Revenues $1,039 $62 $11 $1,112 $23 $1,135 Operating income (loss) 304 (3) 1 302 7 309 Net income (loss) attributable to Alliant Energy common shareowners 245 (18) 227 Three Months Ended September 30, 2021 Revenues $939 $50 $13 $1,002 $22 $1,024 Operating income (loss) 290 (5) (5) 280 9 289 Net income attributable to Alliant Energy common shareowners 250 6 256 Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Nine Months Ended September 30, 2022 Revenues $2,624 $418 $35 $3,077 $70 $3,147 Operating income 680 62 4 746 23 769 Net income attributable to Alliant Energy common shareowners 574 5 579 Nine Months Ended September 30, 2021 Revenues $2,357 $289 $36 $2,682 $60 $2,742 Operating income (loss) 601 42 (4) 639 24 663 Net income attributable to Alliant Energy common shareowners 537 34 571 IPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $596 $33 $11 $640 Operating income (loss) 174 (3) — 171 Net income available for common stock 154 Three Months Ended September 30, 2021 Revenues $555 $31 $13 $599 Operating income (loss) 186 (3) (3) 180 Net income available for common stock 157 Nine Months Ended September 30, 2022 Revenues $1,438 $224 $34 $1,696 Operating income 353 33 3 389 Net income available for common stock 327 Nine Months Ended September 30, 2021 Revenues $1,343 $165 $35 $1,543 Operating income (loss) 365 30 (1) 394 Net income available for common stock 322 WPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $443 $29 $— $472 Operating income 130 — 1 131 Net income 91 Three Months Ended September 30, 2021 Revenues $384 $19 $— $403 Operating income (loss) 104 (2) (2) 100 Net income 93 Nine Months Ended September 30, 2022 Revenues $1,186 $194 $1 $1,381 Operating income 327 29 1 357 Net income 247 Nine Months Ended September 30, 2021 Revenues $1,014 $124 $1 $1,139 Operating income (loss) 236 12 (3) 245 Net income 215 |
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 September 30, 2022 Revenues $1,039 $62 $11 $1,112 $23 $1,135 Operating income (loss) 304 (3) 1 302 7 309 Net income (loss) attributable to Alliant Energy common shareowners 245 (18) 227 Three Months Ended September 30, 2021 Revenues $939 $50 $13 $1,002 $22 $1,024 Operating income (loss) 290 (5) (5) 280 9 289 Net income attributable to Alliant Energy common shareowners 250 6 256 Alliant Energy ATC Holdings, Alliant Utility Non-Utility, Energy Electric Gas Other Total Parent and Other Consolidated (in millions) Nine Months Ended September 30, 2022 Revenues $2,624 $418 $35 $3,077 $70 $3,147 Operating income 680 62 4 746 23 769 Net income attributable to Alliant Energy common shareowners 574 5 579 Nine Months Ended September 30, 2021 Revenues $2,357 $289 $36 $2,682 $60 $2,742 Operating income (loss) 601 42 (4) 639 24 663 Net income attributable to Alliant Energy common shareowners 537 34 571 IPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $596 $33 $11 $640 Operating income (loss) 174 (3) — 171 Net income available for common stock 154 Three Months Ended September 30, 2021 Revenues $555 $31 $13 $599 Operating income (loss) 186 (3) (3) 180 Net income available for common stock 157 Nine Months Ended September 30, 2022 Revenues $1,438 $224 $34 $1,696 Operating income 353 33 3 389 Net income available for common stock 327 Nine Months Ended September 30, 2021 Revenues $1,343 $165 $35 $1,543 Operating income (loss) 365 30 (1) 394 Net income available for common stock 322 WPL Electric Gas Other Total (in millions) Three Months Ended September 30, 2022 Revenues $443 $29 $— $472 Operating income 130 — 1 131 Net income 91 Three Months Ended September 30, 2021 Revenues $384 $19 $— $403 Operating income (loss) 104 (2) (2) 100 Net income 93 Nine Months Ended September 30, 2022 Revenues $1,186 $194 $1 $1,381 Operating income 327 29 1 357 Net income 247 Nine Months Ended September 30, 2021 Revenues $1,014 $124 $1 $1,139 Operating income (loss) 236 12 (3) 245 Net income 215 |
Related Parties (Tables)
Related Parties (Tables) | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30 were as follows (in millions): IPL WPL Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 Corporate Services billings $45 $50 $136 $138 $39 $37 $117 $113 Sales credited 11 4 11 9 31 16 62 23 Purchases billed 119 105 342 347 42 24 103 71 |
Net Intercompany Payables | Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Net payables to Corporate Services $113 $110 $88 $83 |
Related Amounts Billed Between Parties | The related amounts billed between the parties for the three and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 ATC billings to WPL $38 $29 $107 $91 WPL billings to ATC 6 4 14 13 |
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 and nine months ended September 30 were as follows (in millions): IPL WPL Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 Corporate Services billings $45 $50 $136 $138 $39 $37 $117 $113 Sales credited 11 4 11 9 31 16 62 23 Purchases billed 119 105 342 347 42 24 103 71 |
Net Intercompany Payables | Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Net payables to Corporate Services $113 $110 $88 $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 and nine months ended September 30 were as follows (in millions): IPL WPL Three Months Nine Months Three Months Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 Corporate Services billings $45 $50 $136 $138 $39 $37 $117 $113 Sales credited 11 4 11 9 31 16 62 23 Purchases billed 119 105 342 347 42 24 103 71 |
Net Intercompany Payables | Net intercompany payables to Corporate Services were as follows (in millions): IPL WPL September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Net payables to Corporate Services $113 $110 $88 $83 |
Related Amounts Billed Between Parties | The related amounts billed between the parties for the three and nine months ended September 30 were as follows (in millions): Three Months Nine Months 2022 2021 2022 2021 ATC billings to WPL $38 $29 $107 $91 WPL billings to ATC 6 4 14 13 |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Narrative) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2024 MW | Dec. 31, 2021 USD ($) | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Money market fund investments | $ 334 | $ 334 | $ 32 | |||
Money market fund investments interest rate, percentage | 3% | 3% | ||||
Distributions to noncontrolling interest | $ 29 | $ 0 | ||||
IPL [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Money market fund investments | $ 39 | $ 39 | 32 | |||
Money market fund investments interest rate, percentage | 3% | 3% | ||||
WPL [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Money market fund investments | $ 295 | $ 295 | $ 0 | |||
Money market fund investments interest rate, percentage | 3% | 3% | ||||
WPL's cash contribution | $ 62 | |||||
Tax equity partner's cash contribution | 29 | |||||
Contributed funds paid to WPL for equity interests | $ 88 | |||||
Distributions to noncontrolling interest | $ 29 | $ 29 | $ 0 | |||
WPL [Member] | Solar [Member] | Forecast [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Nameplate capacity (in MW) | MW | 1,100 |
Regulatory Matters (Narrative)
Regulatory Matters (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Regulatory Matters [Line Items] | ||
Regulatory assets | $ 2,041 | $ 1,940 |
IPL [Member] | ||
Regulatory Matters [Line Items] | ||
Regulatory assets | 1,423 | 1,443 |
WPL [Member] | ||
Regulatory Matters [Line Items] | ||
Regulatory assets | 618 | $ 497 |
Deferred Fuel Costs | WPL [Member] | ||
Regulatory Matters [Line Items] | ||
Regulatory assets | $ 83 |
Regulatory Matters (Regulatory
Regulatory Matters (Regulatory Assets) (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 2,041 | $ 1,940 |
Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 913 | 934 |
Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 436 | 462 |
Asset retirement obligations [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 145 | 128 |
Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 129 | 42 |
Derivatives [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 102 | 8 |
Assets retired early [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 75 | 92 |
IPL's DAEC PPA amendment [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 72 | 90 |
WPL's Western Wisconsin gas distribution expansion investments [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 49 | 52 |
Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 120 | 132 |
IPL [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 1,423 | 1,443 |
IPL [Member] | Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 842 | 884 |
IPL [Member] | Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 216 | 228 |
IPL [Member] | Asset retirement obligations [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 104 | 89 |
IPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 2 | 2 |
IPL [Member] | Derivatives [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 67 | 4 |
IPL [Member] | Assets retired early [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 56 | 66 |
IPL [Member] | IPL's DAEC PPA amendment [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 72 | 90 |
IPL [Member] | Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 64 | 80 |
WPL [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 618 | 497 |
WPL [Member] | Tax-related [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 71 | 50 |
WPL [Member] | Pension and OPEB costs [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 220 | 234 |
WPL [Member] | Asset retirement obligations [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 41 | 39 |
WPL [Member] | Commodity cost recovery [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 127 | 40 |
WPL [Member] | Derivatives [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 35 | 4 |
WPL [Member] | Assets retired early [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 19 | 26 |
WPL [Member] | WPL's Western Wisconsin gas distribution expansion investments [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | 49 | 52 |
WPL [Member] | Other [Member] | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 56 | $ 52 |
Regulatory Matters (Regulator_2
Regulatory Matters (Regulatory Liabilities) (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 1,387 | $ 1,271 |
Tax-related [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 582 | 585 |
Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 398 | 384 |
Derivatives [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 312 | 166 |
WPL's West Riverside liquidated damages [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 33 | 36 |
Electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 16 | 51 |
Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 46 | 49 |
IPL [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 761 | 691 |
IPL [Member] | Tax-related [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 304 | 312 |
IPL [Member] | Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 258 | 252 |
IPL [Member] | Derivatives [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 164 | 77 |
IPL [Member] | Electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 4 | 27 |
IPL [Member] | Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 31 | 23 |
WPL [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 626 | 580 |
WPL [Member] | Tax-related [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 278 | 273 |
WPL [Member] | Cost of removal obligations [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 140 | 132 |
WPL [Member] | Derivatives [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 148 | 89 |
WPL [Member] | WPL's West Riverside liquidated damages [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 33 | 36 |
WPL [Member] | Electric transmission cost recovery [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | 12 | 24 |
WPL [Member] | Other [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liabilities | $ 15 | $ 26 |
Property, Plant and Equipment (
Property, Plant and Equipment (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2022 MW | |
Edgewater Generating Station | WPL [Member] | |
Property, Plant and Equipment [Line Items] | |
Nameplate capacity (in MW) | 414 |
Columbia Energy Center | WPL [Member] | |
Property, Plant and Equipment [Line Items] | |
Nameplate capacity (in MW) | 595 |
Lansing Generating Station | IPL [Member] | |
Property, Plant and Equipment [Line Items] | |
Nameplate capacity (in MW) | 275 |
Receivables (Narrative) (Detail
Receivables (Narrative) (Details) - Receivables Sold [Member] - IPL [Member] $ in Millions | Sep. 30, 2022 USD ($) |
Receivables [Line Items] | |
Available capacity | $ 109 |
Financial Asset, Past Due [Member] | |
Receivables [Line Items] | |
Outstanding receivables past due | $ 20 |
Receivables (Maximum And Averag
Receivables (Maximum And Average Outstanding Cash Proceeds) (Details) - IPL [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Maximum [Member] | ||||
Receivables [Line Items] | ||||
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances) | $ 36 | $ 110 | $ 66 | $ 110 |
Average [Member] | ||||
Receivables [Line Items] | ||||
Average outstanding aggregate cash proceeds (based on daily outstanding balances) | $ 3 | $ 65 | $ 8 | $ 52 |
Receivables (Receivables Sold U
Receivables (Receivables Sold Under The Agreement) (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Receivables [Line Items] | ||
Fair value of deferred proceeds | $ 248 | $ 214 |
IPL [Member] | ||
Receivables [Line Items] | ||
Fair value of deferred proceeds | 248 | 214 |
Receivables Sold [Member] | IPL [Member] | ||
Receivables [Line Items] | ||
Customer accounts receivable | 169 | 125 |
Unbilled utility revenues | 92 | 104 |
Receivables sold to third party | 261 | 229 |
Less: cash proceeds | 1 | 1 |
Deferred proceeds | 260 | 228 |
Less: allowance for expected credit losses | 12 | 14 |
Fair value of deferred proceeds | $ 248 | $ 214 |
Receivables (Additional Attribu
Receivables (Additional Attributes Of Receivables Sold Under The Agreement) (Details) - IPL [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Receivables [Line Items] | ||||
Collections | $ 670 | $ 607 | $ 1,731 | $ 1,589 |
Write-offs, net of recoveries | $ 3 | $ 4 | $ 6 | $ 7 |
Investments (Unconsolidated Equ
Investments (Unconsolidated Equity Investments) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Equity Method Investments [Line Items] | ||||
Equity (income) loss from unconsolidated investments, net | $ (5) | $ (13) | $ (37) | $ (47) |
ATC Holdings [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity (income) loss from unconsolidated investments, net | (7) | (12) | (29) | (34) |
Other [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity (income) loss from unconsolidated investments, net | 2 | (1) | (8) | (13) |
Total [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity (income) loss from unconsolidated investments, net | $ (5) | $ (13) | $ (37) | $ (47) |
Common Equity (Common Share Act
Common Equity (Common Share Activity) (Details) | 9 Months Ended |
Sep. 30, 2022 shares | |
Common Stock Oustanding [Roll Forward] | |
Shares outstanding, January 1, 2022 (in shares) | 250,474,529 |
Shareowner Direct Plan (in shares) | 324,533 |
Equity-based compensation plans (in shares) | 222,768 |
Shares outstanding, September 30, 2022 (in shares) | 251,021,830 |
Common Equity (Changes in Share
Common Equity (Changes in Shareowners' Equity) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | $ 5,990 | |||
Beginning balance | $ 6,166 | $ 6,019 | 5,990 | $ 5,888 |
Net income attributable to common shareowners | 227 | 256 | 579 | 571 |
Net income | 227 | 259 | 579 | 579 |
Common stock dividends | (106) | (101) | (322) | (304) |
Shareowner Direct Plan issuances | 6 | 6 | 19 | 22 |
Equity-based compensation plans and other | 1 | 5 | (1) | 8 |
Contributions from noncontrolling interest | 29 | |||
Distributions to noncontrolling interest | (29) | (29) | ||
Ending balance | 6,265 | 6,265 | ||
Ending balance | $ 6,265 | $ 6,185 | $ 6,265 | $ 6,185 |
Common stock dividends (in dollars per share) | $ 0.4275 | $ 0.4025 | $ 1.2825 | $ 1.2075 |
Common Stock [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | $ 3 | $ 3 | $ 3 | $ 2 |
Shareowner Direct Plan issuances | 1 | |||
Ending balance | 3 | 3 | 3 | 3 |
Additional Paid-in Capital [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 2,759 | 2,722 | 2,749 | 2,704 |
Shareowner Direct Plan issuances | 6 | 6 | 19 | 21 |
Equity-based compensation plans and other | 2 | 5 | (1) | 8 |
Ending balance | 2,767 | 2,733 | 2,767 | 2,733 |
Retained Earnings [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 3,387 | 3,106 | 3,250 | 2,994 |
Net income attributable to common shareowners | 227 | 256 | 579 | 571 |
Common stock dividends | (106) | (101) | (322) | (304) |
Equity-based compensation plans and other | 1 | |||
Ending balance | 3,508 | 3,261 | 3,508 | 3,261 |
Accumulated Other Comprehensive Loss [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 0 | (1) | 0 | (1) |
Ending balance | 0 | (1) | 0 | (1) |
Shares in Deferred Compensation Trust [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | (12) | (11) | (12) | (11) |
Equity-based compensation plans and other | (1) | (1) | ||
Ending balance | (13) | (11) | (13) | (11) |
Noncontrolling Interest [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 29 | 0 | ||
Contributions from noncontrolling interest | 29 | |||
Distributions to noncontrolling interest | (29) | (29) | ||
Ending balance | 0 | 0 | ||
Cumulative Preferred Stock [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 200 | 200 | ||
Ending balance | 200 | 200 | ||
IPL [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 3,769 | |||
Beginning balance | 3,782 | 3,979 | 3,769 | 3,964 |
Net income attributable to common shareowners | 154 | 157 | 327 | 322 |
Net income | 154 | 160 | 327 | 330 |
Common stock dividends | (80) | (101) | (240) | (301) |
Capital contributions from parent | 0 | 50 | ||
Ending balance | 3,856 | 3,856 | ||
Ending balance | 3,856 | 4,035 | 3,856 | 4,035 |
IPL [Member] | Common Stock [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 33 | 33 | 33 | 33 |
Ending balance | 33 | 33 | 33 | 33 |
IPL [Member] | Additional Paid-in Capital [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 2,807 | 2,802 | 2,807 | 2,752 |
Capital contributions from parent | 50 | |||
Ending balance | 2,807 | 2,802 | 2,807 | 2,802 |
IPL [Member] | Retained Earnings [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 942 | 944 | 929 | 979 |
Net income attributable to common shareowners | 154 | 157 | 327 | 322 |
Common stock dividends | (80) | (101) | (240) | (301) |
Ending balance | 1,016 | 1,000 | 1,016 | 1,000 |
IPL [Member] | Cumulative Preferred Stock [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 0 | 200 | 0 | 200 |
Ending balance | 0 | 200 | 0 | 200 |
WPL [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 2,823 | |||
Beginning balance | 3,183 | 2,725 | 2,823 | 2,478 |
Net income | 91 | 93 | 247 | 215 |
Common stock dividends | (44) | (41) | (133) | (126) |
Equity-based compensation plans and other | (1) | |||
Capital contributions from parent | 155 | 35 | 420 | 245 |
Contributions from noncontrolling interest | 29 | |||
Distributions to noncontrolling interest | (29) | (29) | ||
Ending balance | 3,356 | 3,356 | ||
Ending balance | 3,356 | 2,812 | 3,356 | 2,812 |
WPL [Member] | Common Stock [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 66 | 66 | 66 | 66 |
Ending balance | 66 | 66 | 66 | 66 |
WPL [Member] | Additional Paid-in Capital [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 1,968 | 1,669 | 1,704 | 1,459 |
Equity-based compensation plans and other | (1) | |||
Capital contributions from parent | 155 | 35 | 420 | 245 |
Ending balance | 2,123 | 1,704 | 2,123 | 1,704 |
WPL [Member] | Retained Earnings [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 1,120 | 990 | 1,053 | 953 |
Net income | 91 | 93 | 247 | 215 |
Common stock dividends | (44) | (41) | (133) | (126) |
Ending balance | 1,167 | 1,042 | 1,167 | 1,042 |
WPL [Member] | Noncontrolling Interest [Member] | ||||
Changes in Shareowners' Equity Roll Forward [Line Items] | ||||
Beginning balance | 29 | 0 | 0 | 0 |
Contributions from noncontrolling interest | 29 | |||
Distributions to noncontrolling interest | (29) | (29) | ||
Ending balance | $ 0 | $ 0 | $ 0 | $ 0 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) $ in Millions | Oct. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Subsequent Event [Member] | |||
Debt [Line Items] | |||
Line of credit facility, current borrowing capacity | $ 1,000 | ||
Parent Company [Member] | Subsequent Event [Member] | |||
Debt [Line Items] | |||
Line of credit facility, current borrowing capacity | 500 | ||
IPL [Member] | Subsequent Event [Member] | |||
Debt [Line Items] | |||
Line of credit facility, current borrowing capacity | 200 | ||
WPL [Member] | Subsequent Event [Member] | |||
Debt [Line Items] | |||
Line of credit facility, current borrowing capacity | $ 300 | ||
Senior Notes [Member] | 3.6% senior notes, due 2032 [Member] | |||
Debt [Line Items] | |||
Long-term debt | $ 350 | ||
Interest rate, percent | 3.60% | ||
Senior Notes [Member] | 3.45% senior notes, due 2022 [Member] | Corporate Services [Member] | |||
Debt [Line Items] | |||
Long-term debt | $ 75 | ||
Interest rate, percent | 3.45% | ||
Term Loan Credit Agreement [Member] | Term loan credit agreement through March 2024 [Member] | |||
Debt [Line Items] | |||
Long-term debt | $ 300 | ||
Interest rate, percent | 3% | ||
Term Loan Credit Agreement [Member] | Term loan credit agreement through March 2022 [Member] | |||
Debt [Line Items] | |||
Long-term debt | $ 300 | ||
Debentures [Member] | 3.95% debenture, due 2032 [Member] | WPL [Member] | |||
Debt [Line Items] | |||
Long-term debt | $ 600 | ||
Interest rate, percent | 3.95% |
Debt (Credit Facilities) (Detai
Debt (Credit Facilities) (Details) $ in Millions | Sep. 30, 2022 USD ($) |
Debt [Line Items] | |
Amount outstanding | $ 383 |
Weighted average interest rates | 3.40% |
Available credit facility capacity | $ 617 |
IPL [Member] | |
Debt [Line Items] | |
Amount outstanding | 0 |
Available credit facility capacity | 250 |
WPL [Member] | |
Debt [Line Items] | |
Amount outstanding | 0 |
Available credit facility capacity | $ 300 |
Debt (Other Short-Term Borrowin
Debt (Other Short-Term Borrowings) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Debt [Line Items] | ||||
Maximum amount outstanding (based on daily outstanding balances) | $ 449 | $ 648 | $ 577 | $ 648 |
Average amount outstanding (based on daily outstanding balances) | $ 353 | $ 560 | $ 377 | $ 479 |
Weighted average interest rates | 2.40% | 0.20% | 1.20% | 0.20% |
IPL [Member] | ||||
Debt [Line Items] | ||||
Maximum amount outstanding (based on daily outstanding balances) | $ 0 | $ 8 | $ 0 | $ 19 |
Average amount outstanding (based on daily outstanding balances) | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average interest rates | 0% | 0.20% | 0% | 0.20% |
WPL [Member] | ||||
Debt [Line Items] | ||||
Maximum amount outstanding (based on daily outstanding balances) | $ 251 | $ 320 | $ 252 | $ 320 |
Average amount outstanding (based on daily outstanding balances) | $ 110 | $ 221 | $ 160 | $ 196 |
Weighted average interest rates | 2% | 0.10% | 0.90% | 0.10% |
Revenue (Disaggregation of Reve
Revenue (Disaggregation of Revenues) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | $ 1,135 | $ 1,024 | $ 3,147 | $ 2,742 |
Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,039 | 939 | 2,624 | 2,357 |
Electric [Member] | Retail - residential [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 376 | 348 | 956 | 868 |
Electric [Member] | Retail - commercial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 243 | 232 | 628 | 579 |
Electric [Member] | Retail - industrial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 289 | 265 | 743 | 677 |
Electric [Member] | Wholesale [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 68 | 55 | 168 | 142 |
Electric [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 63 | 39 | 129 | 91 |
Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 62 | 50 | 418 | 289 |
Gas [Member] | Retail - residential [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 28 | 24 | 237 | 162 |
Gas [Member] | Retail - commercial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 18 | 13 | 127 | 85 |
Gas [Member] | Retail - industrial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4 | 3 | 15 | 11 |
Gas [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 12 | 10 | 39 | 31 |
Other Utility [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 11 | 13 | 35 | 36 |
Other Utility [Member] | Steam [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 9 | 9 | 29 | 27 |
Other Utility [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2 | 4 | 6 | 9 |
Non-utility and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 23 | 22 | 70 | 60 |
Non-utility and Other [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 23 | 22 | 70 | 60 |
IPL [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 640 | 599 | 1,696 | 1,543 |
IPL [Member] | Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 596 | 555 | 1,438 | 1,343 |
IPL [Member] | Electric [Member] | Retail - residential [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 222 | 207 | 529 | 488 |
IPL [Member] | Electric [Member] | Retail - commercial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 165 | 160 | 411 | 385 |
IPL [Member] | Electric [Member] | Retail - industrial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 172 | 158 | 418 | 386 |
IPL [Member] | Electric [Member] | Wholesale [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 19 | 18 | 49 | 44 |
IPL [Member] | Electric [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 18 | 12 | 31 | 40 |
IPL [Member] | Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 33 | 31 | 224 | 165 |
IPL [Member] | Gas [Member] | Retail - residential [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 14 | 14 | 127 | 90 |
IPL [Member] | Gas [Member] | Retail - commercial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 8 | 8 | 62 | 47 |
IPL [Member] | Gas [Member] | Retail - industrial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 3 | 3 | 10 | 8 |
IPL [Member] | Gas [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 8 | 6 | 25 | 20 |
IPL [Member] | Other Utility [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 11 | 13 | 34 | 35 |
IPL [Member] | Other Utility [Member] | Steam [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 9 | 9 | 29 | 27 |
IPL [Member] | Other Utility [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2 | 4 | 5 | 8 |
WPL [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 472 | 403 | 1,381 | 1,139 |
WPL [Member] | Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 443 | 384 | 1,186 | 1,014 |
WPL [Member] | Electric [Member] | Retail - residential [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 154 | 141 | 427 | 380 |
WPL [Member] | Electric [Member] | Retail - commercial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 78 | 72 | 217 | 194 |
WPL [Member] | Electric [Member] | Retail - industrial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 117 | 107 | 325 | 291 |
WPL [Member] | Electric [Member] | Wholesale [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 49 | 37 | 119 | 98 |
WPL [Member] | Electric [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 45 | 27 | 98 | 51 |
WPL [Member] | Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 29 | 19 | 194 | 124 |
WPL [Member] | Gas [Member] | Retail - residential [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 14 | 10 | 110 | 72 |
WPL [Member] | Gas [Member] | Retail - commercial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 10 | 5 | 65 | 38 |
WPL [Member] | Gas [Member] | Retail - industrial [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1 | 0 | 5 | 3 |
WPL [Member] | Gas [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4 | 4 | 14 | 11 |
WPL [Member] | Other Utility [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 0 | 0 | 1 | 1 |
WPL [Member] | Other Utility [Member] | Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | $ 0 | $ 0 | $ 1 | $ 1 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2024 | Dec. 31, 2023 | |
Income Taxes [Line Items] | ||||||
State income tax rate, percent | 9.80% | |||||
Regulatory assets | $ (102) | $ (21) | ||||
Income tax expense (benefit) | $ 14 | $ (21) | 26 | (66) | ||
Tax-related [Member] | ||||||
Income Taxes [Line Items] | ||||||
Regulatory assets | 76 | |||||
Income tax expense (benefit) | 8 | |||||
Forecast [Member] | ||||||
Income Taxes [Line Items] | ||||||
State income tax rate, percent | 5.50% | 8.40% | ||||
IPL [Member] | ||||||
Income Taxes [Line Items] | ||||||
Regulatory assets | 18 | (33) | ||||
Income tax expense (benefit) | (16) | (12) | (39) | (34) | ||
IPL [Member] | Tax-related [Member] | ||||||
Income Taxes [Line Items] | ||||||
Regulatory assets | 76 | |||||
WPL [Member] | ||||||
Income Taxes [Line Items] | ||||||
Regulatory assets | (120) | 11 | ||||
Income tax expense (benefit) | $ 16 | $ (15) | $ 50 | $ (41) |
Income Taxes (Schedule Of Effec
Income Taxes (Schedule Of Effective Income Tax Rates) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Effective Tax Rate [Line Items] | ||||
Overall income tax rate | 6% | (9.00%) | 4% | (13.00%) |
IPL [Member] | ||||
Effective Tax Rate [Line Items] | ||||
Overall income tax rate | (12.00%) | (8.00%) | (14.00%) | (11.00%) |
WPL [Member] | ||||
Effective Tax Rate [Line Items] | ||||
Overall income tax rate | 15% | (19.00%) | 17% | (24.00%) |
Income Taxes (Summary Of Tax Cr
Income Taxes (Summary Of Tax Credit Carryforwards) (Details) $ in Millions | Sep. 30, 2022 USD ($) |
State [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | $ 500 |
Federal [Member] | |
Carryforwards [Line Items] | |
Tax credits, carryforward amount | 655 |
IPL [Member] | State [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 9 |
IPL [Member] | Federal [Member] | |
Carryforwards [Line Items] | |
Tax credits, carryforward amount | 437 |
WPL [Member] | State [Member] | |
Carryforwards [Line Items] | |
Net operating losses, carryforward amount | 2 |
WPL [Member] | Federal [Member] | |
Carryforwards [Line Items] | |
Tax credits, carryforward amount | $ 208 |
Benefit Plans (Narrative) (Deta
Benefit Plans (Narrative) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2022 USD ($) shares | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost | $ 8 |
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 | $ 5 |
WPL [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Unrecognized compensation cost | $ 3 |
Omnibus Incentive Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Shares included in diluted earnings per share (in shares) | shares | 285,909 |
Benefit Plans (Defined Benefit
Benefit Plans (Defined Benefit Pension And Other Postretirement Benefits Plans) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Defined benefit pension plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 3 | $ 2 | $ 7 | $ 8 |
Interest cost | 9 | 9 | 27 | 26 |
Expected return on plan assets | (18) | (17) | (52) | (51) |
Amortization of prior service credit | 0 | (1) | 0 | (1) |
Amortization of actuarial loss | 8 | 10 | 24 | 29 |
Total | 2 | 3 | 6 | 11 |
OPEB Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0 | 1 | 2 | 3 |
Interest cost | 1 | 1 | 4 | 3 |
Expected return on plan assets | 0 | (1) | (3) | (3) |
Amortization of prior service credit | 0 | 0 | 0 | 0 |
Amortization of actuarial loss | 1 | 1 | 2 | 3 |
Total | 2 | 2 | 5 | 6 |
IPL [Member] | Defined benefit pension plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | 1 | 4 | 5 |
Interest cost | 4 | 4 | 12 | 12 |
Expected return on plan assets | (7) | (8) | (23) | (24) |
Amortization of actuarial loss | 3 | 5 | 10 | 13 |
Total | 1 | 2 | 3 | 6 |
IPL [Member] | OPEB Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0 | 0 | 1 | 1 |
Interest cost | 1 | 1 | 2 | 2 |
Expected return on plan assets | (1) | (1) | (3) | (3) |
Amortization of actuarial loss | 0 | 0 | 0 | 1 |
Total | 0 | 0 | 0 | 1 |
WPL [Member] | Defined benefit pension plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0 | 1 | 2 | 3 |
Interest cost | 4 | 3 | 12 | 11 |
Expected return on plan assets | (7) | (8) | (23) | (23) |
Amortization of actuarial loss | 4 | 5 | 12 | 14 |
Total | 1 | 1 | 3 | 5 |
WPL [Member] | OPEB Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0 | 1 | 0 | 1 |
Interest cost | 1 | 0 | 2 | 1 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of actuarial loss | 0 | 1 | 1 | 2 |
Total | $ 1 | $ 2 | $ 3 | $ 4 |
Benefit Plans (Recognized Compe
Benefit Plans (Recognized Compensation Expense And Income Tax Benefits) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Compensation expense | $ 3 | $ 4 | $ 9 | $ 9 |
Income tax benefits | 1 | 1 | 3 | 3 |
IPL [Member] | ||||
Compensation expense | 2 | 2 | 5 | 5 |
Income tax benefits | 0 | 0 | 1 | 1 |
WPL [Member] | ||||
Compensation expense | 1 | 2 | 4 | 4 |
Income tax benefits | $ 0 | $ 0 | $ 1 | $ 1 |
Benefit Plans (Summary Of Equit
Benefit Plans (Summary Of Equity-based Compensation Plans Grants) (Details) | 9 Months Ended |
Sep. 30, 2022 $ / shares shares | |
Performance Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grants (in shares/units) | shares | 74,106 |
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 | 84,670 |
Weighted average grant date fair value (in dollars per share/unit) | $ / shares | $ 57.01 |
Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grants (in shares/units) | shares | 77,122 |
Weighted average grant date fair value (in dollars per share/unit) | $ / shares | $ 56.88 |
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 | 9 Months Ended |
Sep. 30, 2022 Dekatherms MWh T gal | |
Electricity (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 1,379 |
Electricity (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 768 |
Electricity (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 611 |
FTRs (MWhs) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 14,454 |
FTRs (MWhs) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 6,165 |
FTRs (MWhs) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in MWhs) | 8,289 |
Natural Gas (Dths) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Dths) | Dekatherms | 249,508 |
Natural Gas (Dths) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Dths) | Dekatherms | 135,193 |
Natural Gas (Dths) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Dths) | Dekatherms | 114,315 |
Coal (Tons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Tons) | T | 1,566 |
Coal (Tons) [Member] | IPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Tons) | T | 669 |
Coal (Tons) [Member] | WPL [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Tons) | T | 897 |
Diesel Fuel (Gallons) [Member] | |
Notional Amount of Derivatives [Line Items] | |
Notional unit amount of derivatives (in Gallons) | gal | 756 |
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 | 756 |
Derivative Instruments (Fair Va
Derivative Instruments (Fair Value Of Financial Instruments) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | $ 200 | $ 113 |
Non-current derivative assets | 160 | 63 |
Current derivative liabilities | 71 | 8 |
Non-current derivative liabilities | 27 | 1 |
IPL [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | 117 | 48 |
Non-current derivative assets | 85 | 36 |
Current derivative liabilities | 54 | 4 |
Non-current derivative liabilities | 12 | 0 |
WPL [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Current derivative assets | 83 | 65 |
Non-current derivative assets | 75 | 27 |
Current derivative liabilities | 17 | 4 |
Non-current derivative liabilities | $ 15 | $ 1 |
Derivative Instruments (Balance
Derivative Instruments (Balance Sheet Offsetting) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Derivative Instruments [Line Items] | ||
Derivative assets, Gross (as reported) | $ 360 | $ 176 |
Derivative assets, Net | 308 | 171 |
Derivative liabilities, Gross (as reported) | 98 | 9 |
Derivative liabilities, Net | 46 | 4 |
IPL [Member] | ||
Derivative Instruments [Line Items] | ||
Derivative assets, Gross (as reported) | 202 | 84 |
Derivative assets, Net | 165 | 83 |
Derivative liabilities, Gross (as reported) | 66 | 4 |
Derivative liabilities, Net | 29 | 3 |
WPL [Member] | ||
Derivative Instruments [Line Items] | ||
Derivative assets, Gross (as reported) | 158 | 92 |
Derivative assets, Net | 143 | 88 |
Derivative liabilities, Gross (as reported) | 32 | 5 |
Derivative liabilities, Net | $ 17 | $ 1 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurements) (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Assets: | ||
Money market fund investments | $ 334 | $ 32 |
Deferred proceeds | 248 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 7,474 | 8,330 |
IPL [Member] | ||
Assets: | ||
Money market fund investments | 39 | 32 |
Deferred proceeds | 248 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 3,228 | 4,124 |
WPL [Member] | ||
Assets: | ||
Money market fund investments | 295 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 2,778 | 2,862 |
Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 360 | 176 |
Liabilities: | ||
Derivatives | 98 | 9 |
Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 202 | 84 |
Liabilities: | ||
Derivatives | 66 | 4 |
Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 158 | 92 |
Liabilities: | ||
Derivatives | 32 | 5 |
Level 1 [Member] | ||
Assets: | ||
Money market fund investments | 334 | 32 |
Deferred proceeds | 0 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 0 | 0 |
Level 1 [Member] | IPL [Member] | ||
Assets: | ||
Money market fund investments | 39 | 32 |
Deferred proceeds | 0 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 0 | 0 |
Level 1 [Member] | WPL [Member] | ||
Assets: | ||
Money market fund investments | 295 | 0 |
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) | 7,473 | 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) | 3,228 | 4,124 |
Level 2 [Member] | WPL [Member] | ||
Assets: | ||
Money market fund investments | 0 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 2,778 | 2,862 |
Level 2 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 295 | 146 |
Liabilities: | ||
Derivatives | 78 | 8 |
Level 2 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 150 | 65 |
Liabilities: | ||
Derivatives | 47 | 3 |
Level 2 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 145 | 81 |
Liabilities: | ||
Derivatives | 31 | 5 |
Level 3 [Member] | ||
Assets: | ||
Money market fund investments | 0 | 0 |
Deferred proceeds | 248 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 1 | 1 |
Level 3 [Member] | IPL [Member] | ||
Assets: | ||
Money market fund investments | 0 | 0 |
Deferred proceeds | 248 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 0 | 0 |
Level 3 [Member] | WPL [Member] | ||
Assets: | ||
Money market fund investments | 0 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 0 | 0 |
Level 3 [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 65 | 30 |
Liabilities: | ||
Derivatives | 20 | 1 |
Level 3 [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 52 | 19 |
Liabilities: | ||
Derivatives | 19 | 1 |
Level 3 [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 13 | 11 |
Liabilities: | ||
Derivatives | 1 | 0 |
Carrying Amount [Member] | ||
Assets: | ||
Money market fund investments | 334 | 32 |
Deferred proceeds | 248 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 8,228 | 7,368 |
Carrying Amount [Member] | IPL [Member] | ||
Assets: | ||
Money market fund investments | 39 | 32 |
Deferred proceeds | 248 | 214 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 3,645 | 3,643 |
Carrying Amount [Member] | WPL [Member] | ||
Assets: | ||
Money market fund investments | 295 | 0 |
Liabilities: | ||
Long-term debt (incl. current maturities) | 3,019 | 2,429 |
Carrying Amount [Member] | Commodity Contracts [Member] | ||
Assets: | ||
Derivatives | 360 | 176 |
Liabilities: | ||
Derivatives | 98 | 9 |
Carrying Amount [Member] | Commodity Contracts [Member] | IPL [Member] | ||
Assets: | ||
Derivatives | 202 | 84 |
Liabilities: | ||
Derivatives | 66 | 4 |
Carrying Amount [Member] | Commodity Contracts [Member] | WPL [Member] | ||
Assets: | ||
Derivatives | 158 | 92 |
Liabilities: | ||
Derivatives | $ 32 | $ 5 |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value Measurements Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Commodity Contracts [Member] | ||||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ 72 | $ 39 | $ 29 | $ 29 |
Total net gains (losses) included in changes in net assets (realized/unrealized) | (1) | 5 | (17) | 6 |
Transfers out of Level 3 | 0 | (8) | 0 | (8) |
Purchases | 79 | 21 | ||
Settlements | (26) | (7) | (46) | (19) |
Ending balance | 45 | 29 | 45 | 29 |
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 | (1) | 5 | (17) | 6 |
Commodity Contracts [Member] | IPL [Member] | ||||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 58 | 30 | 18 | 26 |
Total net gains (losses) included in changes in net assets (realized/unrealized) | (6) | 2 | (13) | 0 |
Transfers out of Level 3 | 0 | (8) | 0 | (8) |
Purchases | 58 | 16 | ||
Settlements | (19) | (5) | (30) | (15) |
Ending balance | 33 | 19 | 33 | 19 |
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 | (6) | 2 | (14) | 0 |
Commodity Contracts [Member] | WPL [Member] | ||||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 14 | 9 | 11 | 3 |
Total net gains (losses) included in changes in net assets (realized/unrealized) | 5 | 3 | (4) | 6 |
Purchases | 21 | 5 | ||
Settlements | (7) | (2) | (16) | (4) |
Ending balance | 12 | 10 | 12 | 10 |
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 | 5 | 3 | (3) | 6 |
Deferred Proceeds [Member] | ||||
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 244 | 154 | 214 | 188 |
Total net gains (losses) included in changes in net assets (realized/unrealized) | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | ||
Settlements | 4 | 10 | 34 | (24) |
Ending balance | 248 | 164 | 248 | 164 |
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 | 0 | 0 | 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 | 244 | 154 | 214 | 188 |
Total net gains (losses) included in changes in net assets (realized/unrealized) | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | ||
Settlements | 4 | 10 | 34 | (24) |
Ending balance | 248 | 164 | 248 | 164 |
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30 | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Measurements (Fair_3
Fair Value Measurements (Fair Value Of Net Derivative Assets (Liabilities)) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair value, net derivative assets | $ 45 | $ 72 | $ 29 | $ 29 | $ 39 | $ 29 |
Excluding Financial Transmission Rights [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair value, net derivative liabilities | (14) | |||||
Fair value, net derivative assets | 9 | |||||
Financial Transmission Rights [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair value, net derivative assets | 59 | 20 | ||||
IPL [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair value, net derivative assets | 33 | 58 | 18 | 19 | 30 | 26 |
IPL [Member] | Excluding Financial Transmission Rights [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair value, net derivative liabilities | (15) | |||||
Fair value, net derivative assets | 8 | |||||
IPL [Member] | Financial Transmission Rights [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair value, net derivative assets | 48 | 10 | ||||
WPL [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair value, net derivative assets | 12 | $ 14 | 11 | $ 10 | $ 9 | $ 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 | 1 | 1 | ||||
WPL [Member] | Financial Transmission Rights [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair value, net derivative assets | $ 11 | $ 10 |
Commitments And Contingencies_2
Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Commitments and Contingencies [Line Items] | ||||||
Minimum future commitments | $ 1,931 | |||||
Equity (income) loss from unconsolidated investments, net | $ 5 | $ 13 | 37 | $ 47 | ||
IPL [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Minimum future commitments | 894 | |||||
WPL [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Minimum future commitments | 996 | |||||
Capital Purchase Commitment [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Minimum future commitments | 208 | |||||
Capital Purchase Commitment [Member] | WPL [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Minimum future commitments | 206 | |||||
Indemnification Agreement [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Obligations, maximum | 59 | 59 | ||||
Indemnification Agreement [Member] | Purchased Power [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Obligations, maximum | 17 | $ 17 | ||||
Whiting Petroleum Affiliate [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Partnership share, percent | 6% | |||||
Obligations, maximum | 58 | $ 58 | ||||
Credit loss liability | 5 | 5 | ||||
Federal Energy Regulatory Commission [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
MISO base return on equity, percentage | 10.02% | 9.88% | ||||
Equity (income) loss from unconsolidated investments, net | $ 5 | $ 5 |
Commitments And Contingencies_3
Commitments And Contingencies (Other Purchase Commitments) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2022 USD ($) | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | $ 1,931 |
Individual commitments incurred | 1 |
IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 894 |
Individual commitments incurred | 1 |
WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 996 |
Individual commitments incurred | 1 |
Natural gas [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 1,608 |
Natural gas [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 742 |
Natural gas [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 866 |
Coal [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 197 |
Coal [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 95 |
Coal [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 102 |
Other [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 126 |
Other [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | 57 |
Other [Member] | WPL [Member] | |
Commitments and Contingencies [Line Items] | |
Minimum future commitments | $ 28 |
Commitments And Contingencies_4
Commitments And Contingencies (MPG Site Estimated Future Costs And Recorded Liabilities) (Details) - Natural Gas Processing Plant [Member] $ in Millions | 9 Months Ended |
Sep. 30, 2022 USD ($) | |
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 | 8 |
Minimum [Member] | |
Commitments and Contingencies [Line Items] | |
Range of estimated future costs | 9 |
Minimum [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Range of estimated future costs | 6 |
Maximum [Member] | |
Commitments and Contingencies [Line Items] | |
Range of estimated future costs | 25 |
Maximum [Member] | IPL [Member] | |
Commitments and Contingencies [Line Items] | |
Range of estimated future costs | $ 19 |
Segments Of Business (Schedule
Segments Of Business (Schedule Of Segments Of Business) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segment Reporting Information [Line Items] | ||||
Revenues | $ 1,135 | $ 1,024 | $ 3,147 | $ 2,742 |
Operating income (loss) | 309 | 289 | 769 | 663 |
Net income (loss) attributable to common shareowners | 227 | 256 | 579 | 571 |
Net income | 227 | 259 | 579 | 579 |
IPL [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 640 | 599 | 1,696 | 1,543 |
Operating income (loss) | 171 | 180 | 389 | 394 |
Net income (loss) attributable to common shareowners | 154 | 157 | 327 | 322 |
Net income | 154 | 160 | 327 | 330 |
WPL [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 472 | 403 | 1,381 | 1,139 |
Operating income (loss) | 131 | 100 | 357 | 245 |
Net income | 91 | 93 | 247 | 215 |
Electric [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,039 | 939 | 2,624 | 2,357 |
Operating income (loss) | 304 | 290 | 680 | 601 |
Electric [Member] | IPL [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 596 | 555 | 1,438 | 1,343 |
Operating income (loss) | 174 | 186 | 353 | 365 |
Electric [Member] | WPL [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 443 | 384 | 1,186 | 1,014 |
Operating income (loss) | 130 | 104 | 327 | 236 |
Gas [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 62 | 50 | 418 | 289 |
Operating income (loss) | (3) | (5) | 62 | 42 |
Gas [Member] | IPL [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 33 | 31 | 224 | 165 |
Operating income (loss) | (3) | (3) | 33 | 30 |
Gas [Member] | WPL [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 29 | 19 | 194 | 124 |
Operating income (loss) | 0 | (2) | 29 | 12 |
Other Utility [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 11 | 13 | 35 | 36 |
Operating income (loss) | 1 | (5) | 4 | (4) |
Other Utility [Member] | IPL [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 11 | 13 | 34 | 35 |
Operating income (loss) | 0 | (3) | 3 | (1) |
Other Utility [Member] | WPL [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | 1 | 1 |
Operating income (loss) | 1 | (2) | 1 | (3) |
Utility Business [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,112 | 1,002 | 3,077 | 2,682 |
Operating income (loss) | 302 | 280 | 746 | 639 |
Net income (loss) attributable to common shareowners | 245 | 250 | 574 | 537 |
ATC Holdings, Non-Utility, Parent and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 23 | 22 | 70 | 60 |
Operating income (loss) | 7 | 9 | 23 | 24 |
Net income (loss) attributable to common shareowners | $ (18) | $ 6 | $ 5 | $ 34 |
Related Parties (Narrative) (De
Related Parties (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
WPL [Member] | WPL Owed ATC LLC [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 | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Corporate Services Billings [Member] | IPL [Member] | ||||
Related Party Transactions [Line Items] | ||||
Amounts billed between related parties | $ 45 | $ 50 | $ 136 | $ 138 |
Corporate Services Billings [Member] | WPL [Member] | ||||
Related Party Transactions [Line Items] | ||||
Amounts billed between related parties | 39 | 37 | 117 | 113 |
Sales Credited [Member] | IPL [Member] | ||||
Related Party Transactions [Line Items] | ||||
Amounts billed between related parties | 11 | 4 | 11 | 9 |
Sales Credited [Member] | WPL [Member] | ||||
Related Party Transactions [Line Items] | ||||
Amounts billed between related parties | 31 | 16 | 62 | 23 |
Purchases Billed [Member] | IPL [Member] | ||||
Related Party Transactions [Line Items] | ||||
Amounts billed between related parties | 119 | 105 | 342 | 347 |
Purchases Billed [Member] | WPL [Member] | ||||
Related Party Transactions [Line Items] | ||||
Amounts billed between related parties | $ 42 | $ 24 | $ 103 | $ 71 |
Related Parties (Net Intercompa
Related Parties (Net Intercompany Payables) (Details) - Subsidiary of Common Parent [Member] - Corporate Services [Member] - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
IPL [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts owed | $ 113 | $ 110 |
WPL [Member] | ||
Related Party Transactions [Line Items] | ||
Net amounts owed | $ 88 | $ 83 |
Related Parties (Amounts Billed
Related Parties (Amounts Billed Between Parties) (Details) - ATC LLC [Member] - WPL [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
ATC Billings To WPL [Member] | ||||
Related Party Transactions [Line Items] | ||||
Amounts billed between related parties | $ 38 | $ 29 | $ 107 | $ 91 |
WPL Billings To ATC [Member] | ||||
Related Party Transactions [Line Items] | ||||
Amounts billed between related parties | $ 6 | $ 4 | $ 14 | $ 13 |