Item 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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Item 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ALLIANT ENERGY CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)


	For the Three Months		For the Six Months
	Ended June 30,		Ended June 30,
	2024	2023	2024	2023
	(in millions, except per share amounts)
Revenues:
Electric utility	$789	$799	$1,580	$1,567
Gas utility	69	77	273	353
Other utility	10	13	24	25
Non-utility	26	23	48	45
Total revenues	894	912	1,925	1,990
Operating expenses:
Electric production fuel and purchased power	138	166	301	322
Electric transmission service	147	138	300	284
Cost of gas sold	25	33	139	215
Asset valuation charge for IPL’s Lansing Generating Station	60	—	60	—
Other operation and maintenance	177	163	336	338
Depreciation and amortization	188	167	376	333
Taxes other than income taxes	29	28	61	59
Total operating expenses	764	695	1,573	1,551
Operating income	130	217	352	439
Other (income) and deductions:
Interest expense	108	96	215	190
Equity income from unconsolidated investments, net	(15)	(14)	(31)	(31)
Allowance for funds used during construction	(19)	(24)	(38)	(43)
Other	2	(1)	4	2
Total other (income) and deductions	76	57	150	118
Income before income taxes	54	160	202	321
Income tax benefit	(33)	—	(43)	(2)




Net income attributable to Alliant Energy common shareowners	$87	$160	$245	$323
Weighted average number of common shares outstanding:
Basic	256.4	251.7	256.3	251.4
Diluted	256.7	251.9	256.6	251.6
Earnings per weighted average common share attributable to Alliant Energy common shareowners:
Basic	$0.34	$0.64	$0.96	$1.28
Diluted	$0.34	$0.64	$0.95	$1.28

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.


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ALLIANT ENERGY CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)


	June 30, 2024	December 31, 2023
	(in millions, except per share and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$92	$62
Accounts receivable, less allowance for expected credit losses	409	475

Production fuel, at weighted average cost	65	62
Gas stored underground, at weighted average cost	52	79
Materials and supplies, at weighted average cost	206	202
Regulatory assets	212	232

Other	178	160
Total current assets	1,214	1,272
Property, plant and equipment, net	17,706	17,157
Investments:
ATC Holdings	400	386
Other	223	216
Total investments	623	602
Other assets:
Regulatory assets	2,133	2,029
Deferred charges and other	160	177
Total other assets	2,293	2,206
Total assets	$21,836	$21,237


LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$804	$809
Commercial paper	52	475

Accounts payable	581	611

Regulatory liabilities	110	107
Other	307	302
Total current liabilities	1,854	2,304
Long-term debt, net (excluding current portion)	8,900	8,225
Other liabilities:
Deferred tax liabilities	2,086	2,042
Regulatory liabilities	1,026	1,023
Pension and other benefit obligations	240	249
Other	939	617
Total other liabilities	4,291	3,931
Commitments and contingencies (Note 1 4)
Equity:
Alliant Energy Corporation common equity:
Common stock - $0.01 par value - 480,000,000 shares authorized; 256,499,575 and 256,096,848 shares outstanding	3	3
Additional paid-in capital	3,042	3,030
Retained earnings	3,755	3,756
Accumulated other comprehensive income	3	1
Shares in deferred compensation trust - 352,514 and 379,006 shares at a weighted average cost of $35.38 and $34.48 per share	(12)	(13)
Total Alliant Energy Corporation common equity	6,791	6,777



Total liabilities and equity	$21,836	$21,237

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.


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ALLIANT ENERGY CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)


	For the Six Months
	Ended June 30,
	2024	2023
	(in millions)
Cash flows from operating activities:
Net income	$245	$323
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	376	333
Deferred tax benefit and tax credits	(47)	—


Asset valuation charge for IPL’s Lansing Generating Station	60	—
Other	(4)	(18)
Other changes in assets and liabilities:
Accounts receivable	(242)	(186)

Gas stored underground	27	63
Derivative assets	(17)	86
Regulatory assets	43	(36)
Accounts payable	75	(84)

Regulatory liabilities	(12)	(116)
Deferred income taxes (a)	86	24

Other	(28)	(78)
Net cash flows from operating activities	562	311
Cash flows used for investing activities:
Construction and acquisition expenditures:
Utility business	(870)	(758)
Other	(90)	(62)
Cash receipts on sold receivables	306	272
Proceeds from sales of partial ownership interests in West Riverside	123	120
Other	(2)	(54)
Net cash flows used for investing activities	(533)	(482)
Cash flows from financing activities:
Common stock dividends	(246)	(226)
Proceeds from issuance of common stock, net	12	76
Proceeds from issuance of long-term debt	969	862
Payments to retire long-term debt	(305)	(404)
Net change in commercial paper and other short-term borrowings	(423)	(146)


Other	(6)	(1)
Net cash flows from financing activities	1	161
Net increase (decrease) in cash, cash equivalents and restricted cash	30	(10)
Cash, cash equivalents and restricted cash at beginning of period	63	24
Cash, cash equivalents and restricted cash at end of period	$93	$14
Supplemental cash flows information:
Cash (paid) received during the period for:
Interest	($207)	($179)
Income taxes, net (a)	$89	$3
Significant non-cash investing and financing activities:
Accrued capital expenditures	$272	$300
Beneficial interest obtained in exchange for securitized accounts receivable	$171	$175

(a) 2024 includes $99 million of proceeds from renewable tax credits transferred to other corporate taxpayers

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.


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INTERSTATE POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)


	For the Three Months		For the Six Months
	Ended June 30,		Ended June 30,
	2024	2023	2024	2023
	(in millions)
Revenues:
Electric utility	$404	$431	$795	$819
Gas utility	40	44	148	194
Steam and other	9	12	23	24
Total revenues	453	487	966	1,037
Operating expenses:
Electric production fuel and purchased power	48	66	116	113
Electric transmission service	99	96	202	201
Cost of gas sold	17	20	77	116
Asset valuation charge for IPL’s Lansing Generating Station	60	—	60	—
Other operation and maintenance	102	85	187	181
Depreciation and amortization	97	96	193	191
Taxes other than income taxes	14	14	30	29
Total operating expenses	437	377	865	831
Operating income	16	110	101	206
Other (income) and deductions:
Interest expense	42	37	84	74
Allowance for funds used during construction	(11)	(4)	(21)	(8)
Other	—	1	—	3
Total other (income) and deductions	31	34	63	69
Income (loss) before income taxes	(15)	76	38	137
Income tax benefit	(33)	(13)	(43)	(24)


Net income	$18	$89	$81	$161

Earnings per share data is not disclosed given Alliant Energy Corporation is the sole shareowner of all shares of IPL’s common stock outstanding during the periods presented.

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.


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INTERSTATE POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)


	June 30, 2024	December 31, 2023
	(in millions, except per share and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$9	$53
Accounts receivable, less allowance for expected credit losses	186	242

Production fuel, at weighted average cost	36	27
Gas stored underground, at weighted average cost	18	35
Materials and supplies, at weighted average cost	123	122
Regulatory assets	84	93
Other	68	51
Total current assets	524	623
Property, plant and equipment, net	8,670	8,298
Other assets:
Regulatory assets	1,464	1,484
Deferred charges and other	74	84
Total other assets	1,538	1,568
Total assets	$10,732	$10,489


LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$500	$500

Accounts payable	252	262

Accrued taxes	56	50
Accrued interest	39	40
Regulatory liabilities	62	72
Other	110	101
Total current liabilities	1,019	1,025
Long-term debt, net (excluding current portion)	3,446	3,445
Other liabilities:
Deferred tax liabilities	1,150	1,091
Regulatory liabilities	556	572
Pension and other benefit obligations	48	51
Other	433	331
Total other liabilities	2,187	2,045
Commitments and contingencies (Note 1 4)
Equity:
Interstate Power and Light Company common equity:
Common stock - $2.50 par value - 24,000,000 shares authorized; 13,370,788 shares outstanding	33	33
Additional paid-in capital	3,012	2,887
Retained earnings	1,035	1,054
Total Interstate Power and Light Company common equity	4,080	3,974


Total liabilities and equity	$10,732	$10,489

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.


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INTERSTATE POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)


	For the Six Months
	Ended June 30,
	2024	2023
	(in millions)
Cash flows from operating activities:
Net income	$81	$161
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	193	191

Deferred tax expense (benefit) and tax credits	(35)	5
Asset valuation charge for IPL’s Lansing Generating Station	60	—
Other	7	(3)
Other changes in assets and liabilities:
Accounts receivable	(251)	(216)


Gas stored underground	17	33
Derivative assets	(18)	43

Accounts payable	19	(32)

Regulatory liabilities	(16)	(78)

Deferred income taxes (a)	92	8

Other	(2)	(60)
Net cash flows from operating activities	147	52
Cash flows used for investing activities:
Construction and acquisition expenditures	(500)	(251)
Cash receipts on sold receivables	306	272
Other	(15)	(36)
Net cash flows used for investing activities	(209)	(15)
Cash flows from (used for) financing activities:
Common stock dividends	(100)	(140)
Capital contributions from parent	125	40


Net change in commercial paper	—	55
Other	(7)	2
Net cash flows from (used for) financing activities	18	(43)
Net decrease in cash, cash equivalents and restricted cash	(44)	(6)
Cash, cash equivalents and restricted cash at beginning of period	53	15
Cash, cash equivalents and restricted cash at end of period	$9	$9
Supplemental cash flows information:
Cash (paid) received during the period for:
Interest	($85)	($74)
Income taxes, net (a)	$92	$25
Significant non-cash investing and financing activities:
Accrued capital expenditures	$119	$95
Beneficial interest obtained in exchange for securitized accounts receivable	$171	$175

(a) 2024 includes $71 million of proceeds from renewable tax credits transferred to other corporate taxpayers

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.


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WISCONSIN POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)


	For the Three Months		For the Six Months
	Ended June 30,		Ended June 30,
	2024	2023	2024	2023
	(in millions)
Revenues:
Electric utility	$385	$368	$785	$748
Gas utility	29	33	125	159
Other	1	1	1	1
Total revenues	415	402	911	908
Operating expenses:
Electric production fuel and purchased power	90	99	186	209
Electric transmission service	49	42	98	83
Cost of gas sold	8	13	62	99
Other operation and maintenance	67	67	128	133
Depreciation and amortization	87	69	178	137
Taxes other than income taxes	14	13	28	27
Total operating expenses	315	303	680	688
Operating income	100	99	231	220
Other (income) and deductions:
Interest expense	41	36	82	72

Allowance for funds used during construction	(8)	(19)	(17)	(35)
Other	—	(4)	2	(3)
Total other (income) and deductions	33	13	67	34
Income before income taxes	67	86	164	186
Income tax expense	3	14	8	26
Net income	$64	$72	$156	$160

Earnings per share data is not disclosed given Alliant Energy Corporation is the sole shareowner of all shares of WPL’s common stock outstanding during the periods presented.

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.


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WISCONSIN POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)


	June 30, 2024	December 31, 2023
	(in millions, except per share and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$80	$7
Accounts receivable, less allowance for expected credit losses	209	219
Production fuel, at weighted average cost	30	35
Gas stored underground, at weighted average cost	34	44
Materials and supplies, at weighted average cost	79	77
Regulatory assets	128	139
Prepaid gross receipts tax	49	49
Other	38	43
Total current assets	647	613
Property, plant and equipment, net	8,554	8,415
Other assets:
Regulatory assets	669	545
Deferred charges and other	55	61
Total other assets	724	606
Total assets	$9,925	$9,634


LIABILITIES AND EQUITY
Current liabilities:

Commercial paper	$—	$318

Accounts payable	261	293

Accrued interest	46	40
Regulatory liabilities	48	35
Other	83	89
Total current liabilities	438	775
Long-term debt, net	3,368	3,070
Other liabilities:
Deferred tax liabilities	804	827
Regulatory liabilities	470	451

Pension and other benefit obligations	114	121
Other	721	493
Total other liabilities	2,109	1,892
Commitments and contingencies (Note 1 4)
Equity:
Wisconsin Power and Light Company common equity:
Common stock - $5 par value - 18,000,000 shares authorized; 13,236,601 shares outstanding	66	66
Additional paid-in capital	2,533	2,478
Retained earnings	1,411	1,353
Total Wisconsin Power and Light Company common equity	4,010	3,897


Total liabilities and equity	$9,925	$9,634

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.


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WISCONSIN POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)


	For the Six Months
	Ended June 30,
	2024	2023
	(in millions)
Cash flows from operating activities:
Net income	$156	$160
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	178	137


Other	(24)	(30)
Other changes in assets and liabilities:
Accounts receivable	10	33

Gas stored underground	10	31
Derivative assets	3	47
Regulatory assets	44	(35)
Accounts payable	41	(54)

Regulatory liabilities	5	(38)


Other	(32)	17
Net cash flows from operating activities	391	268
Cash flows used for investing activities:
Construction and acquisition expenditures	(370)	(507)
Proceeds from sales of partial ownership interests in West Riverside	123	120
Other	—	(15)
Net cash flows used for investing activities	(247)	(402)
Cash flows from (used for) financing activities:
Common stock dividends	(98)	(92)
Capital contributions from parent	55	180
Proceeds from issuance of long-term debt	297	297

Net change in commercial paper	(318)	(246)


Other	(7)	(7)
Net cash flows from (used for) financing activities	(71)	132
Net increase (decrease) in cash, cash equivalents and restricted cash	73	(2)
Cash, cash equivalents and restricted cash at beginning of period	7	5
Cash, cash equivalents and restricted cash at end of period	$80	$3
Supplemental cash flows information:
Cash paid during the period for:
Interest	($76)	($69)
Income taxes, net (a)	($10)	($42)
Significant non-cash investing and financing activities:
Accrued capital expenditures	$146	$196

(a) 2024 includes $28 million of proceeds from renewable tax credits transferred to other corporate taxpayers

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.


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ALLIANT ENERGY CORPORATION

INTERSTATE POWER AND LIGHT COMPANY

WISCONSIN POWER AND LIGHT COMPANY

COMBINED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 1. 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 2023 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 six months ended June 30, 2024 are not necessarily indicative of results that may be expected for the year ending December 31, 2024.

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 June 30, 2024, Alliant Energy’s and WPL’s cash and cash equivalents included $73 million and $72 million of money market fund investments, respectively, with an interest rate of 5%.

NOTE 2. REGULATORY MATTERS

Regulatory Assets and Regulatory Liabilities -

Regulatory assets were comprised of the following items (in millions):


	Alliant Energy		IPL		WPL
	June 30, 2024	December 31, 2023	June 30, 2024	December 31, 2023	June 30, 2024	December 31, 2023
Tax-related	$958	$934	$848	$831	$110	$103
AROs	408	194	218	160	190	34
Pension and OPEB costs	334	347	165	171	169	176
Assets retired early	197	273	184	259	13	14
Derivatives	95	102	33	34	62	68
Commodity cost recovery	89	120	2	12	87	108
WPL’s Western Wisconsin gas distribution expansion investments	43	44	—	—	43	44
IPL’s Duane Arnold Energy Center PPA amendment	30	42	30	42	—	—


Other	191	205	68	68	123	137
	$2,345	$2,261	$1,548	$1,577	$797	$684

AROs - Refer to Note 11 for discussion of the recognition of additional ARO regulatory assets in the second quarter of 2024, substantially resulting from the enactment of the revised CCR Rule.

Assets retired early - In May 2023, IPL retired the Lansing Generating Station. IPL is currently allowed a full recovery of and a full return on this EGU from both its retail and wholesale customers. IPL’s retail electric rate review for the October 2024 through September 2025 forward-looking Test Period filed with the IUC in October 2023 included a request for continued recovery of and a return on the remaining net book value of Lansing through 2037. In June 2024, IPL reached a partial non-unanimous settlement agreement with certain stakeholders, which is subject to IUC approval. The agreement includes a return of the remaining net book value of Lansing, but does not include a return on the remaining net book value of Lansing. As a result, the return on the remaining net book value is no longer probable of recovery from IPL’s retail electric customers, and in the second quarter of 2024, a pre-tax non-cash charge of $60 million was recorded to “Asset valuation charge for IPL’s Lansing Generating Station” in Alliant Energy’s and IPL’s income statements, with a corresponding decrease in Alliant Energy’s and IPL’s assets retired early regulatory assets. A decision from the IUC on the settlement agreement is currently expected in the third quarter of 2024, with final rates expected to be effective October 1, 2024.

Derivatives - Refer to Note 1 2 for discussion of changes in Alliant Energy’s, IPL’s and WPL’s derivative liabilities/assets during the six months ended June 30, 2024, which resulted in comparable changes to regulatory assets/liabilities on the balance sheets.


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Regulatory liabilities were comprised of the following items (in millions):


	Alliant Energy		IPL		WPL
	June 30, 2024	December 31, 2023	June 30, 2024	December 31, 2023	June 30, 2024	December 31, 2023
Tax-related	$601	$566	$296	$299	$305	$267
Cost of removal obligations	374	366	232	242	142	124
Derivatives	50	65	30	34	20	31
Commodity cost recovery	51	48	16	13	35	35




Other	60	85	44	56	16	29
	$1,136	$1,130	$618	$644	$518	$486

Tax-related - The increase in Alliant Energy’s and WPL’s tax-related regulatory liabilities during the six months ended June 30, 2024 was primarily due to tax benefits resulting from WPL electing investment tax credit treatment for its Cassville solar facility in the second quarter of 2024. A majority of these benefits will be addressed in a future regulatory proceeding, with a portion of the benefits passed on to WPL’s electric customers in 2024 and 2025.

NOTE 3. PROPERTY, PLANT AND EQUIPMENT

WPL currently expects construction costs associated with its approximately 1,100 MW of new solar generation will exceed the construction cost estimates previously approved by the PSCW by approximately $195 million. In February 2024, the PSCW issued an order approving deferral of the incremental solar generation construction costs. The PSCW’s order did not authorize a deferral for the return on such costs. In March 2024, WPL filed for judicial review of the PSCW’s retail electric rate review order (2024/2025 forward-looking Test Period) and solar generation construction cost deferral order related to the recovery and deferral of the return on the incremental solar generation construction costs in 2024 and 2025. Alliant Energy and WPL concluded that there was not a probable disallowance of anticipated higher rate base amounts as of June 30, 2024 given construction costs were reasonably and prudently incurred.

In May 2024, WPL announced updated plans to convert the coal-fired Edgewater Unit 5 to natural gas in 2028, subject to regulatory approvals. WPL previously planned to retire the EGU by June 1, 2025. As a result, as of June 30, 2024, Alliant Energy and WPL concluded Edgewater Unit 5 (net book value of $496 million) no longer meets the criteria to be considered probable of abandonment, and $806 million was reclassified to utility electric generation plant in service from utility electric plant anticipated to be retired early.

WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business. WPL is responsible for the operation of the EGU and has exclusive rights to its output. In May 2024, WPL renewed this financing lease through 2044. There are no lease renewal periods remaining.

In June 2024, WEC Energy Group, Inc. and Madison Gas and Electric Company acquired partial ownership interests in West Riverside. The related proceeds are included in “Proceeds from sales of partial ownership interests in West Riverside” in investing activities in Alliant Energy’s and WPL’s cash flows statements for the six months ended June 30, 2024. As a result of these transactions, WPL’s undivided current ownership interest in West Riverside is 56.6%.

NOTE 4. RECEIVABLES

Sales of Accounts Receivable - IPL maintains a Receivables Purchase and Sale Agreement (Receivables Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. In March 2024, IPL amended and extended through March 2026 the purchase commitment from the third party to which it sells its receivables. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. Effective May 2024, the limit on cash proceeds under the Receivables Agreement was changed to $110 million. As of June 30, 2024, IPL had $65 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding aggregate cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program for the three and six months ended June 30 were as follows (in millions):


	Three Months		Six Months
	2024	2023	2024	2023
Maximum outstanding aggregate cash proceeds	$110	$110	$110	$110
Average outstanding aggregate cash proceeds	73	101	48	79


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The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):


	June 30, 2024	December 31, 2023
Customer accounts receivable	$131	$130
Unbilled utility revenues	94	98
Other receivables	2	1
Receivables sold to third party	227	229
Less: cash proceeds	45	1
Deferred proceeds	182	228
Less: allowance for expected credit losses	11	12
Fair value of deferred proceeds	$171	$216

As of June 30, 2024, outstanding receivables past due under the Receivables Agreement were $16 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and six months ended June 30 were as follows (in millions):


	Three Months		Six Months
	2024	2023	2024	2023
Collections	$456	$514	$1,013	$1,104
Write-offs, net of recoveries	2	2	5	4

Effective July 2024, the limit on cash proceeds under the Receivables Agreement was changed to $60 million.

NOTE 5. 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 six months ended June 30 was as follows (in millions):


	Three Months		Six Months
	2024	2023	2024	2023
ATC Holdings	($13)	($12)	($25)	($25)


Other	(2)	(2)	(6)	(6)
	($15)	($14)	($31)	($31)

NOTE 6. COMMON EQUITY

Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows:


Shares outstanding, January 1, 2024			256,096,848


Shareowner Direct Plan			248,460
Equity-based compensation plans			154,267

Shares outstanding, June 30, 2024			256,499,575


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Changes in Shareowners’ Equity - A summary of changes in shareowners’ equity was as follows (in millions):



Alliant Energy				Accumulated	Shares in
		Additional		Other	Deferred	Total
	Common	Paid-In	Retained	Comprehensive	Compensation	Common
	Stock	Capital	Earnings	Income (Loss)	Trust	Equity
Three Months Ended June 30, 2024
Beginning balance, March 31, 2024	$3	$3,033	$3,791	$2	($12)	$6,817
Net income attributable to Alliant Energy common shareowners			87			87
Common stock dividends ($0.48 per share)			(123)			(123)
Shareowner Direct Plan issuances		6				6
Equity-based compensation plans and other		3				3



Other comprehensive income, net of tax				1		1
Ending balance, June 30, 2024	$3	$3,042	$3,755	$3	($12)	$6,791
Three Months Ended June 30, 2023
Beginning balance, March 31, 2023	$3	$2,780	$3,559	($1)	($13)	$6,328
Net income attributable to Alliant Energy common shareowners			160			160
Common stock dividends ($0.4525 per share)			(113)			(113)
At-the-market offering program and Shareowner Direct Plan issuances		70				70
Equity-based compensation plans and other		4			(1)	3



Other comprehensive income, net of tax				4		4
Ending balance, June 30, 2023	$3	$2,854	$3,606	$3	($14)	$6,452




Alliant Energy				Accumulated	Shares in
		Additional		Other	Deferred	Total
	Common	Paid-In	Retained	Comprehensive	Compensation	Common
	Stock	Capital	Earnings	Income	Trust	Equity
Six Months Ended June 30, 2024
Beginning balance, December 31, 2023	$3	$3,030	$3,756	$1	($13)	$6,777
Net income attributable to Alliant Energy common shareowners			245			245
Common stock dividends ($0.96 per share)			(246)			(246)
Shareowner Direct Plan issuances		12				12
Equity-based compensation plans and other					1	1



Other comprehensive income, net of tax				2		2
Ending balance, June 30, 2024	$3	$3,042	$3,755	$3	($12)	$6,791
Six Months Ended June 30, 2023
Beginning balance, December 31, 2022	$3	$2,777	$3,509	$—	($13)	$6,276
Net income attributable to Alliant Energy common shareowners			323			323
Common stock dividends ($0.905 per share)			(226)			(226)
At-the-market offering program and Shareowner Direct Plan issuances		76				76
Equity-based compensation plans and other		1			(1)	—



Other comprehensive income, net of tax				3		3
Ending balance, June 30, 2023	$3	$2,854	$3,606	$3	($14)	$6,452


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IPL		Additional		Total
	Common	Paid-In	Retained	Common
	Stock	Capital	Earnings	Equity
Three Months Ended June 30, 2024
Beginning balance, March 31, 2024	$33	$2,937	$1,067	$4,037
Net income			18	18
Common stock dividends			(50)	(50)
Capital contributions from parent		75		75
Ending balance, June 30, 2024	$33	$3,012	$1,035	$4,080
Three Months Ended June 30, 2023
Beginning balance, March 31, 2023	$33	$2,807	$970	$3,810
Net income			89	89
Common stock dividends			(70)	(70)
Capital contributions from parent		40		40
Ending balance, June 30, 2023	$33	$2,847	$989	$3,869




IPL		Additional		Total
	Common	Paid-In	Retained	Common
	Stock	Capital	Earnings	Equity
Six Months Ended June 30, 2024
Beginning balance, December 31, 2023	$33	$2,887	$1,054	$3,974
Net income			81	81
Common stock dividends			(100)	(100)
Capital contributions from parent		125		125
Ending balance, June 30, 2024	$33	$3,012	$1,035	$4,080
Six Months Ended June 30, 2023
Beginning balance, December 31, 2022	$33	$2,807	$968	$3,808
Net income			161	161
Common stock dividends			(140)	(140)
Capital contributions from parent		40		40
Ending balance, June 30, 2023	$33	$2,847	$989	$3,869



WPL		Additional		Total
	Common	Paid-In	Retained	Common
	Stock	Capital	Earnings	Equity
Three Months Ended June 30, 2024
Beginning balance, March 31, 2024	$66	$2,533	$1,396	$3,995
Net income			64	64
Common stock dividends			(49)	(49)




Ending balance, June 30, 2024	$66	$2,533	$1,411	$4,010
Three Months Ended June 30, 2023
Beginning balance, March 31, 2023	$66	$2,413	$1,234	$3,713
Net income			72	72
Common stock dividends			(46)	(46)




Ending balance, June 30, 2023	$66	$2,413	$1,260	$3,739


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WPL		Additional		Total
	Common	Paid-In	Retained	Common
	Stock	Capital	Earnings	Equity
Six Months Ended June 30, 2024
Beginning balance, December 31, 2023	$66	$2,478	$1,353	$3,897
Net income			156	156
Common stock dividends			(98)	(98)
Capital contributions from parent		55		55



Ending balance, June 30, 2024	$66	$2,533	$1,411	$4,010
Six Months Ended June 30, 2023
Beginning balance, December 31, 2022	$66	$2,233	$1,192	$3,491
Net income			160	160
Common stock dividends			(92)	(92)
Capital contributions from parent		180		180



Ending balance, June 30, 2023	$66	$2,413	$1,260	$3,739

NOTE 7. DEBT

NOTE 7(a) Short-term Debt - In June 2024, Alliant Energy, IPL and WPL reallocated credit facility capacity amounts to $450 million for Alliant Energy at the parent company level, $250 million for IPL and $300 million for WPL, within the $1 billion total commitment. Information regarding commercial paper classified as short-term debt was as follows (dollars in millions):


June 30, 2024	Alliant Energy	IPL	WPL
Amount outstanding	$52	$—	$—
Weighted average interest rates	5.5%	—%	—%
Available credit facility capacity	$948	$250	$300


	Alliant Energy		IPL		WPL
Three Months Ended June 30	2024	2023	2024	2023	2024	2023
Maximum amount outstanding (based on daily outstanding balances)	$435	$391	$19	$70	$57	$91
Average amount outstanding (based on daily outstanding balances)	$275	$88	$2	$6	$8	$18
Weighted average interest rates	5.5%	5.3%	5.5%	5.3%	5.4%	5.2%
Six Months Ended June 30
Maximum amount outstanding (based on daily outstanding balances)	$632	$793	$19	$70	$390	$349
Average amount outstanding (based on daily outstanding balances)	$381	$330	$1	$3	$131	$160
Weighted average interest rates	5.5%	4.8%	5.5%	5.3%	5.5%	4.8%

NOTE 7(b) Long-term Debt - In March 2024, AEF entered into a $300 million variable rate (6% as of June 30, 2024) term loan credit agreement (with Alliant Energy as guarantor), which expires in March 2025. This term loan credit agreement amends and restates the term loan credit agreement that expired in March 2024, and retired the $300 million variable rate term loan set forth therein. AEF’s restated term loan credit agreement includes an option to increase the amount outstanding with one or more additional term loans in an aggregate amount not to exceed $100 million.

In June 2024, AEF issued $375 million of 5.4% senior notes due 2027 (with Alliant Energy as guarantor). The net proceeds from this issuance were used to reduce Alliant Energy’s outstanding commercial paper and for general corporate purposes.

In March 2024, WPL issued $300 million of 5.375% debentures due 2034. WPL’s debentures were issued as green bonds, and an amount equal to or in excess of the net proceeds will be allocated or disbursed for the development and acquisition of WPL’s solar EGUs.

Convertible Senior Notes - As of June 30, 2024, the conditions allowing holders of Alliant Energy’s convertible senior notes due 2026 (the Notes) to convert their Notes were not met, and as a result, the Notes were classified as “Long-term debt, net” on Alliant Energy’s balance sheet. As of June 30, 2024, the net carrying amount of the Notes was $570 million, with unamortized debt issuance costs of $5 million, and the estimated fair value (Level 2) of the Notes was $568 million. As of June 30, 2024, there were no shares of Alliant Energy’s common stock related to the potential conversion of the Notes included in diluted EPS based on Alliant Energy’s average stock prices and the relevant terms of the Notes.


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NOTE 8. 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 June 30	2024	2023	2024	2023	2024	2023
Electric Utility:
Retail - residential	$291	$284	$151	$151	$140	$133
Retail - commercial	191	201	118	129	73	72
Retail - industrial	237	245	118	130	119	115
Wholesale	43	49	13	14	30	35
Bulk power and other	27	20	4	7	23	13
Total Electric Utility	789	799	404	431	385	368
Gas Utility:
Retail - residential	38	42	22	24	16	18
Retail - commercial	19	22	11	12	8	10
Retail - industrial	2	3	1	2	1	1
Transportation/other	10	10	6	6	4	4
Total Gas Utility	69	77	40	44	29	33
Other Utility:
Steam	9	11	9	11	—	—
Other utility	1	2	—	1	1	1
Total Other Utility	10	13	9	12	1	1
Non-Utility and Other:
Travero and other	26	23	—	—	—	—

Total Non-Utility and Other	26	23	—	—	—	—
Total revenues	$894	$912	$453	$487	$415	$402



	Alliant Energy		IPL		WPL
Six Months Ended June 30	2024	2023	2024	2023	2024	2023
Electric Utility:
Retail - residential	$588	$569	$301	$294	$287	$275
Retail - commercial	377	385	232	241	145	144
Retail - industrial	460	460	229	236	231	224
Wholesale	89	95	26	26	63	69
Bulk power and other	66	58	7	22	59	36
Total Electric Utility	1,580	1,567	795	819	785	748
Gas Utility:
Retail - residential	165	210	90	117	75	93
Retail - commercial	80	110	41	56	39	54
Retail - industrial	6	9	4	6	2	3
Transportation/other	22	24	13	15	9	9
Total Gas Utility	273	353	148	194	125	159
Other Utility:
Steam	20	22	20	22	—	—
Other utility	4	3	3	2	1	1
Total Other Utility	24	25	23	24	1	1
Non-Utility and Other:
Travero and other	48	45	—	—	—	—

Total Non-Utility and Other	48	45	—	—	—	—
Total revenues	$1,925	$1,990	$966	$1,037	$911	$908


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NOTE 9. INCOME TAXES

Income Tax Rates - Overall effective income tax rates for the three and six months ended June 30, 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, investment tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. Also impacting Alliant Energy’s and IPL’s effective income tax rates for the three and six months ended June 30, 2024 were the pre-tax non-cash charge of $60 million for IPL’s Lansing Generation Station discussed in Note 2 and the pre-tax non-cash charge of $20 million for the portion of recorded AROs allocated to IPL’s steam business discussed in Note 11.


	Alliant Energy				IPL				WPL
	Three Months		Six Months		Three Months		Six Months		Three Months		Six Months
	2024	2023	2024	2023	2024	2023	2024	2023	2024	2023	2024	2023
Overall income tax rate	(61%)	—%	(21%)	(1%)	220%	(17%)	(113%)	(18%)	4%	16%	5%	14%

Deferred Tax Assets and Liabilities -

Carryforwards - At June 30, 2024, the carryforwards and expiration dates were estimated as follows (in millions):


	Range of Expiration Dates	Alliant Energy	IPL	WPL

State net operating losses	2025-2044	$386	$6	$1
Federal tax credits	2032-2044	631	405	216

NOTE 10. 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 six months ended June 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		Six Months		Three Months		Six Months
Alliant Energy	2024	2023	2024	2023	2024	2023	2024	2023
Service cost	$1	$1	$2	$2	$1	$—	$1	$1
Interest cost	11	12	22	23	2	2	4	4
Expected return on plan assets	(14)	(13)	(27)	(26)	(1)	(1)	(2)	(2)

Amortization of actuarial loss	6	7	12	14	—	1	—	1


	$4	$7	$9	$13	$2	$2	$3	$4


	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Six Months		Three Months		Six Months
IPL	2024	2023	2024	2023	2024	2023	2024	2023
Service cost	$—	$1	$1	$2	$—	$—	$—	$—
Interest cost	5	5	10	10	1	1	2	2
Expected return on plan assets	(6)	(6)	(13)	(13)	(1)	(1)	(2)	(2)

Amortization of actuarial loss	3	3	5	6	—	1	—	1
	$2	$3	$3	$5	$—	$1	$—	$1


	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Six Months		Three Months		Six Months
WPL	2024	2023	2024	2023	2024	2023	2024	2023
Service cost	$1	$1	$1	$1	$—	$—	$—	$—
Interest cost	5	5	10	10	1	1	2	2
Expected return on plan assets	(6)	(6)	(12)	(11)	—	—	—	—

Amortization of actuarial loss	3	4	6	7	—	—	—	—

	$3	$4	$5	$7	$1	$1	$2	$2

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 six months ended June 30 was as follows (in millions):


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	Alliant Energy				IPL				WPL
	Three Months		Six Months		Three Months		Six Months		Three Months		Six Months
	2024	2023	2024	2023	2024	2023	2024	2023	2024	2023	2024	2023
Compensation expense	$3	$3	$7	$6	$2	$2	$4	$3	$1	$1	$3	$2
Income tax benefits	1	1	2	2	—	—	1	1	—	—	1	1

As of June 30, 2024, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $19 million, $9 million and $8 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years.

For the six months ended June 30, 2024, performance shares and restricted stock units were granted to key employees under the equity-based compensation 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 (total shareowner return metric)	127,267	$46.04
Performance shares (net income and diversity metrics) (formerly granted as performance restricted stock units)	145,449	48.49
Restricted stock units	128,620	48.57

As of June 30, 2024, 234,773 shares were included in the calculation of diluted EPS related to the nonvested equity awards.

NOTE 11. ASSET RETIREMENT OBLIGATIONS

A reconciliation of the changes in AROs associated with long-lived assets for the six months ended June 30, 2024 is as follows (in millions):


	Alliant Energy	IPL	WPL
Balance, January 1	$246	$148	$98
Revisions in estimated cash flows	(2)	—	(2)
Liabilities settled	(1)	—	(1)
Liabilities incurred (a)	355	102	253
Accretion expense	5	3	2
Balance, June 30	$603	$253	$350

(a)In the second quarter of 2024, substantially due to the enactment of the revised CCR Rule, which significantly expands the scope of regulation to include coal ash ponds at sites that no longer produce electricity and inactive landfills, including some IPL and WPL facilities, Alliant Energy, IPL and WPL recorded additional AROs, additional ARO regulatory assets for EGUs no longer in operation, additional property, plant and equipment for EGUs still in operation, and a pre-tax non-cash charge of $20 million recorded to “Other operation and maintenance” in Alliant Energy’s and IPL’s income statements for the portion allocated to IPL’s steam business for IPL’s Prairie Creek Generating Station and the retired Sixth Street Generating Station as established in prior rate reviews. The amounts recorded in the second quarter of 2024 are expected to be adjusted in the future as additional information is obtained for the specific site closure plans, including the determination of whether or not individual sites are considered legal obligations and the acceptance and approval of compliance approaches, which could change management assumptions and result in a material change to the recorded amounts.

NOTE 12. DERIVATIVE INSTRUMENTS

Commodity Derivatives -

Notional Amounts - As of June 30, 2024, 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		Diesel Fuel
	MWhs	Years	MWhs	Years	Dths	Years		Gallons	Years
Alliant Energy	1,563	2024-2026	22,363	2024-2025	181,348	2024-2032		3,150	2024-2025
IPL	706	2024-2026	7,387	2024-2025	81,924	2024-2030		—	—
WPL	857	2024-2026	14,976	2024-2025	99,424	2024-2032		3,150	2024-2025


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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
	June 30, 2024	December 31, 2023	June 30, 2024	December 31, 2023	June 30, 2024	December 31, 2023
Current derivative assets	$68	$44	$52	$30	$16	$14
Non-current derivative assets	35	44	20	24	15	20
Current derivative liabilities	42	51	22	22	20	29
Non-current derivative liabilities	49	47	9	8	40	39

During the six months ended June 30, 2024, Alliant Energy’s and IPL’s derivative assets increased primarily due to new FTRs resulting from the annual FTR auction in the second quarter of 2024 operated by MISO. Based on IPL’s and WPL’s cost recovery mechanisms, the majority of changes in the fair value of derivative liabilities/assets result 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 June 30, 2024 and December 31, 2023, 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
June 30, 2024
Derivative assets	$103	$75	$72	$56	$31	$19
Derivative liabilities	91	63	31	15	60	48
December 31, 2023
Derivative assets	88	47	54	32	34	15
Derivative liabilities	98	57	30	8	68	49

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.

Interest Rate Derivative - The interest rate derivative associated with AEF’s interest rate swap maturing in January 2026 was valued based on quoted prices that utilize current market interest rate forecasts. As of June 30, 2024, $3 million of non-current interest rate derivative assets was recorded in “Deferred charges and other” on Alliant Energy’s balance sheet. This interest rate derivative was designated as a cash flow hedge, with changes in fair value recorded as other comprehensive income/loss. As of June 30, 2024, accumulated other comprehensive income included $3 million of income related to the interest rate swap. Reductions to interest expense of $1 million and $2 million for the three and six months ended June 30, 2024, respectively, and $1 million and $1 million for the three and six months ended June 30, 2023, respectively, were recorded in Alliant Energy’s income statement related to the interest rate swap.


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NOTE 13. 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	June 30, 2024					December 31, 2023
		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	$73	$73	$—	$—	$73	$45	$45	$—	$—	$45
Commodity derivatives	103	—	46	57	103	88	—	59	29	88
Interest rate derivatives	3	—	3	—	3	1	—	1	—	1
Deferred proceeds	171	—	—	171	171	216	—	—	216	216
Liabilities:
Commodity derivatives	91	—	85	6	91	98	—	93	5	98

Long-term debt (incl. current maturities)	9,704	—	9,352	—	9,352	9,034	—	8,677	—	8,677


IPL	June 30, 2024					December 31, 2023
		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	$1	$1	$—	$—	$1	$45	$45	$—	$—	$45
Commodity derivatives	72	—	26	46	72	54	—	30	24	54
Deferred proceeds	171	—	—	171	171	216	—	—	216	216
Liabilities:
Commodity derivatives	31	—	25	6	31	30	—	25	5	30
Long-term debt (incl. current maturities)	3,946	—	3,577	—	3,577	3,945	—	3,664	—	3,664


WPL	June 30, 2024					December 31, 2023
		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	$72	$72	$—	$—	$72	$—	$—	$—	$—	$—
Commodity derivatives	31	—	20	11	31	34	—	29	5	34
Liabilities:
Commodity derivatives	60	—	60	—	60	68	—	68	—	68
Long-term debt	3,368	—	3,141	—	3,141	3,070	—	2,933	—	2,933

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 June 30	2024	2023	2024	2023
Beginning balance, April 1	$7	($5)	$184	$153
Total net losses included in changes in net assets (realized/unrealized)	(5)	(7)	—	—


Purchases	59	62	—	—
Sales	(1)	(1)	—	—
Settlements (a)	(9)	5	(13)	22
Ending balance, June 30	$51	$54	$171	$175
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 June 30	($5)	($7)	$—	$—


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Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Six Months Ended June 30	2024	2023	2024	2023
Beginning balance, January 1	$24	$19	$216	$185
Total net losses included in changes in net assets (realized/unrealized)	(8)	(11)	—	—


Purchases	59	62	—	—
Sales	(1)	(1)	—	—
Settlements (a)	(23)	(15)	(45)	(10)
Ending balance, June 30	$51	$54	$171	$175
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 June 30	($8)	($11)	$—	$—


IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended June 30	2024	2023	2024	2023
Beginning balance, April 1	$5	$—	$184	$153
Total net losses included in changes in net assets (realized/unrealized)	(2)	(13)	—	—


Purchases	45	51	—	—
Sales	(1)	(1)	—	—
Settlements (a)	(7)	4	(13)	22
Ending balance, June 30	$40	$41	$171	$175
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 June 30	($2)	($13)	$—	$—



IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Six Months Ended June 30	2024	2023	2024	2023
Beginning balance, January 1	$19	$16	$216	$185
Total net losses included in changes in net assets (realized/unrealized)	(6)	(12)	—	—


Purchases	45	51	—	—
Sales	(1)	(1)	—	—
Settlements (a)	(17)	(13)	(45)	(10)
Ending balance, June 30	$40	$41	$171	$175
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 June 30	($6)	($12)	$—	$—


WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Three Months Ended June 30	2024	2023
Beginning balance, April 1	$2	($5)
Total net gains (losses) included in changes in net assets (realized/unrealized)	(3)	6


Purchases	14	11

Settlements	(2)	1
Ending balance, June 30	$11	$13
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 June 30	($3)	$6


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WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Six Months Ended June 30	2024	2023
Beginning balance, January 1	$5	$3
Total net gains (losses) included in changes in net assets (realized/unrealized)	(2)	1


Purchases	14	11

Settlements	(6)	(2)
Ending balance, June 30	$11	$13
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 June 30	($2)	$1

(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold.

Commodity Contracts - The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):


	Alliant Energy		IPL		WPL
	Excluding FTRs	FTRs	Excluding FTRs	FTRs	Excluding FTRs	FTRs
June 30, 2024	($4)	$55	($4)	$44	$—	$11
December 31, 2023	3	21	3	16	—	5

NOTE 14. COMMITMENTS AND CONTINGENCIES

NOTE 14(a) Capital Purchase Commitments - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects, including WPL’s expansion of battery storage, IPL’s repowering of the existing Franklin County wind farm, and IPL’s expansion of solar generation. At June 30, 2024, Alliant Energy’s, IPL’s and WPL’s minimum future commitments for these projects were $116 million, $38 million and $76 million, respectively.

NOTE 14(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 June 30, 2024, the related minimum future commitments, excluding amounts for purchased power commitments that do not have minimum thresholds but will require payment when electricity is generated by the provider, were as follows (in millions):


	Alliant Energy	IPL	WPL
Natural gas	$773	$316	$457
Coal	155	106	49

Other (a)	118	50	25
	$1,046	$472	$531

(a)Includes individual commitments incurred during the normal course of business that exceeded $1 million at June 30, 2024.

NOTE 14(c) Guarantees and Indemnifications -

Whiting Petroleum Corporation (Whiting Petroleum) - In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum, an independent oil and gas company. 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.

In 2022, Whiting Petroleum completed a business combination with Oasis Petroleum Inc., resulting in Chord Energy Corporation. In May 2024, Chord Energy Corporation completed a business combination with Enerplus Corporation. These business combinations are not expected to affect the scope of the Whiting Petroleum affiliate’s partnership obligations or Alliant Energy’s related guarantees; however, such business combinations substantially reduce the likelihood that Alliant Energy will be obligated to make any payments under these guarantees.


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As of June 30, 2024, the currently known partnership obligations for the abandonment obligations are estimated at $49 million, which represents Alliant Energy’s currently estimated maximum exposure under the guarantees. Alliant Energy is not currently aware of, nor does it currently expect to incur in the future, any material liabilities related to these guarantees and therefore has not recognized any material liabilities related to these guarantees as of June 30, 2024 and December 31, 2023.

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 $51 million as of June 30, 2024 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 June 30, 2024 and December 31, 2023.

Transfers of Renewable Tax Credits - In 2023 and 2024, IPL and WPL entered into agreements to transfer renewable tax credits from certain wind, solar and battery storage facilities to other corporate taxpayers in exchange for cash. As of June 30, 2024, IPL and WPL provided indemnifications associated with $147 million and $50 million, respectively, of proceeds for renewable tax credits transferred to other corporate taxpayers in the event of an adverse interpretation of tax law, including whether the related tax credits meet the qualification requirements. Alliant Energy, IPL and WPL believe the likelihood of having to make any material cash payments under these indemnifications is remote.

NOTE 14(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 June 30, 2024, 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):


	Alliant Energy			IPL			WPL
Range of estimated future costs	$8	-	$29	$6	-	$18	$2	-	$11
Current and non-current environmental liabilities	$13			$8			$5

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: Cross-State Air Pollution Rule, Effluent Limitation Guidelines, CCR Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including the Clean Air Act.

NOTE 14(e) MISO Transmission Owner Return on Equity Complaints - A group of stakeholders, including MISO cooperative and municipal utilities, previously filed complaints with the Federal Energy Regulatory Commission (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 2022, the U.S. Court of Appeals for the District of Columbia 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. Any further changes in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future earnings and customer costs.


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NOTE 14(f) Collective Bargaining Agreements - At June 30, 2024, employees covered by collective bargaining agreements represented 53%, 70% and 83% of total employees of Alliant Energy, IPL and WPL, respectively. In August 2024, IPL’s collective bargaining agreement with International Brotherhood of Electrical Workers Local 204 (Cedar Rapids) expires, representing 18% and 54% of total employees of Alliant Energy and IPL, respectively. While the process to renew the agreement is underway and a tentative agreement has been reached, Alliant Energy and IPL are currently unable to predict the outcome.

NOTE 15. 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. Refer to Note 2 for discussion of asset valuation charges recorded in the second quarter of 2024 related to IPL’s Lansing Generating Station, which decreased the assets for “Utility - Electric,” and N ote 11 for discussion of additional AROs recorded in the second quarter of 2024 substantially due to the enactment of the revised CCR Rule, which primarily increased the assets for “Utility - Electric.”


Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Three Months Ended June 30, 2024
Revenues	$789	$69	$10	$868	$26	$894
Operating income (loss)	131	1	(16)	116	14	130
Net income attributable to Alliant Energy common shareowners				82	5	87
Three Months Ended June 30, 2023
Revenues	$799	$77	$13	$889	$23	$912
Operating income	200	2	7	209	8	217
Net income (loss) attributable to Alliant Energy common shareowners				161	(1)	160



Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Six Months Ended June 30, 2024
Revenues	$1,580	$273	$24	$1,877	$48	$1,925
Operating income (loss)	295	48	(11)	332	20	352
Net income attributable to Alliant Energy common shareowners				237	8	245
Six Months Ended June 30, 2023
Revenues	$1,567	$353	$25	$1,945	$45	$1,990
Operating income	363	52	11	426	13	439
Net income attributable to Alliant Energy common shareowners				321	2	323


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IPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended June 30, 2024
Revenues	$404	$40	$9	$453
Operating income (loss)	34	(1)	(17)	16
Net income				18
Three Months Ended June 30, 2023
Revenues	$431	$44	$12	$487
Operating income	105	—	5	110
Net income				89
Six Months Ended June 30, 2024
Revenues	$795	$148	$23	$966
Operating income (loss)	91	21	(11)	101
Net income				81
Six Months Ended June 30, 2023
Revenues	$819	$194	$24	$1,037
Operating income	171	27	8	206
Net income				161


WPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended June 30, 2024
Revenues	$385	$29	$1	$415
Operating income	97	2	1	100
Net income				64
Three Months Ended June 30, 2023
Revenues	$368	$33	$1	$402
Operating income	95	2	2	99
Net income				72
Six Months Ended June 30, 2024
Revenues	$785	$125	$1	$911
Operating income	204	27	—	231
Net income				156
Six Months Ended June 30, 2023
Revenues	$748	$159	$1	$908
Operating income	192	25	3	220
Net income				160

NOTE 16. 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 six months ended June 30 were as follows (in millions):


	IPL				WPL
	Three Months		Six Months		Three Months		Six Months
	2024	2023	2024	2023	2024	2023	2024	2023
Corporate Services billings	$49	$48	$92	$88	$46	$43	$86	$80
Sales credited	—	1	—	8	14	10	36	22
Purchases billed	105	94	201	187	16	2	23	17


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Net intercompany payables to Corporate Services were as follows (in millions):


	IPL		WPL
	June 30, 2024	December 31, 2023	June 30, 2024	December 31, 2023
Net payables to Corporate Services	$138	$129	$67	$72

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 six months ended June 30 were as follows (in millions):


	Three Months		Six Months
	2024	2023	2024	2023
ATC billings to WPL	$39	$44	$76	$78
WPL billings to ATC	4	5	7	11

WPL owed ATC net amounts of $11 million as of June 30, 2024 and $10 million as of December 31, 2023.

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