Alliant Energy 10-Q 2024-09-30

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Name of Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, Commission File Number, IRS Employer Identification Number

ALLIANT ENERGY CORPORATION

(a Wisconsin Corporation)

4902 N. Biltmore Lane

Madison, Wisconsin 53718

Telephone (608) 458-3311

Commission File Number - 1-9894

IRS Employer Identification Number - 39-1380265

INTERSTATE POWER & LIGHT COMPANY

(an Iowa corporation)

Alliant Energy Tower

Cedar Rapids, Iowa 52401

Telephone (319) 786-4411

Commission File Number - 1-4117

IRS Employer Identification Number - 42-0331370

WISCONSIN POWER & LIGHT COMPANY

(a Wisconsin corporation)

4902 N. Biltmore Lane

Madison, Wisconsin 53718

Telephone (608) 458-3311

Commission File Number - 0-337

IRS Employer Identification Number - 39-0714890

This combined Form 10-Q is separately filed by Alliant Energy Corporation, Interstate Power and Light Company and Wisconsin Power and Light Company. Information contained in the Form 10-Q relating to Interstate Power and Light Company and Wisconsin Power and Light Company is filed by each such registrant on its own behalf. Each of Interstate Power and Light Company and Wisconsin Power and Light Company makes no representation as to information relating to registrants other than itself.

Securities registered pursuant to Section 12(b) of the Act:

Alliant Energy Corporation, Common Stock, $0.01 Par Value, Trading Symbol LNT, Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Alliant Energy Corporation - Yes ☒ No ☐

Interstate Power and Light Company - Yes ☒ No ☐

Wisconsin Power and Light Company - Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Alliant Energy Corporation - Yes ☒ No ☐

Interstate Power and Light Company - Yes ☒ No ☐

Wisconsin Power and Light Company - Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Alliant Energy Corporation - Large Accelerated Filer ☒ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller Reporting Company ☐ Emerging Growth Company ☐

Interstate Power and Light Company - Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☒ Smaller Reporting Company ☐ Emerging Growth Company ☐

Wisconsin Power and Light Company - Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☒ Smaller Reporting Company ☐ Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Alliant Energy Corporation ☐

Interstate Power and Light Company ☐

Wisconsin Power and Light Company ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Alliant Energy Corporation - Yes ☐ No ☒

Interstate Power and Light Company - Yes ☐ No ☒

Wisconsin Power and Light Company - Yes ☐ No ☒

Number of shares outstanding of each class of common stock as of September 30, 2024:

Alliant Energy Corporation, Common Stock, $0.01 par value, 256,599,202 shares outstanding

Interstate Power and Light Company, Common Stock, $2.50 par value, 13,370,788 shares outstanding (all outstanding shares are owned beneficially and of record by Alliant Energy Corporation)

Wisconsin Power and Light Company, Common Stock, $5 par value, 13,236,601 shares outstanding (all outstanding shares are owned beneficially and of record by Alliant Energy Corporation)

Table of Contents

TABLE OF CONTENTS

			Page
Definitions			1
Forward-looking Statements			1
Part I. Financial Information			3
Item 1. Condensed Consolidated Financial Statements (Unaudited)			3
Alliant Energy Corporation			3
Interstate Power and Light Company			6
Wisconsin Power and Light Company			9
Combined Notes to Condensed Consolidated Financial Statements			12
1. Summary of Significant Accounting Policies			12
2. Regulatory Matters			12
3. Property, Plant and Equipment			13
4. Receivables			14
5. Investments			14
6. Common Equity			14
7. Debt			17
8. Revenues			18
9. Income Taxes			19
10. Benefit Plans			19
11. Asset Retirement Obligations			20
12. Derivative Instruments			20
13. Fair Value Measurements			22
14. Commitments and Contingencies			24
15. Segments of Business			25
16. Related Parties			27
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			27
Item 3. Quantitative and Qualitative Disclosures About Market Risk			38
Item 4. Controls and Procedures			39
Part II. Other Information			39
Item 1. Legal Proceedings			39
Item 1A. Risk Factors			39
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			39
Item 5. Other Information			39
Item 6. Exhibits			40
Signatures			40

Table of Contents

DEFINITIONS

The following abbreviations or acronyms used in this report are defined below:

Abbreviation or Acronym			Definition			Abbreviation or Acronym			Definition
2023 Form 10-K			Combined Annual Report on Form 10-K filed by Alliant Energy, IPL and WPL for the year ended Dec. 31, 2023			GAAP			U.S. generally accepted accounting principles
AEF			Alliant Energy Finance, LLC			IPL			Interstate Power and Light Company
Alliant Energy			Alliant Energy Corporation			IUC			Iowa Utilities Commission
ARO			Asset retirement obligation			MDA			Management’s Discussion and Analysis of Financial Condition and Results of Operations
ATC			American Transmission Company LLC			MISO			Midcontinent Independent System Operator, Inc.
ATC Holdings			Interest in American Transmission Company LLC and ATC Holdco LLC			MW			Megawatt
CCR			Coal combustion residuals			MWh			Megawatt-hour
Corporate Services			Alliant Energy Corporate Services, Inc.			N/A			Not applicable
Dth			Dekatherm			Note(s)			Combined Notes to Condensed Consolidated Financial Statements
EGU			Electric generating unit			OPEB			Other postretirement benefits
EPA			U.S. Environmental Protection Agency			PSCW			Public Service Commission of Wisconsin
EPS			Earnings per weighted average common share			U.S.			United States of America
Financial Statements			Condensed Consolidated Financial Statements			West Riverside			West Riverside Energy Center and Solar Facility
FTR			Financial transmission right			WPL			Wisconsin Power and Light Company

FORWARD-LOOKING STATEMENTS

Statements contained in this report that are not of historical fact are forward-looking statements intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified as such because the statements include words such as “may,” “believe,” “expect,” “anticipate,” “plan,” “project,” “will,” “projections,” “estimate,” or other words of similar import. Similarly, statements that describe future financial performance or plans or strategies are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Some, but not all, of the risks and uncertainties of Alliant Energy, IPL and WPL that could materially affect actual results include:

• IPL’s and WPL’s ability to obtain adequate and timely rate relief to allow for, among other things, the recovery of and/or the return on costs, including fuel costs, operating costs, transmission costs, capacity costs, deferred expenditures, deferred tax assets, tax expense, interest expense, capital expenditures, marginal costs to service new customers, and remaining costs related to EGUs that have been or may be permanently closed and certain other retired assets, environmental remediation costs, and decreases in sales volumes, as well as earning their authorized rates of return, payments to their parent of expected levels of dividends, and the impact of rate design on current and potential customers and demand for energy in their service territories;

• weather effects on utility sales volumes and operations;

• the impact of IPL’s retail electric base rate moratorium;

• IPL’s and WPL’s ability to obtain rate relief to allow for the return on costs of solar generation projects that exceed initial cost estimates;

• the direct or indirect effects resulting from cybersecurity incidents or attacks on Alliant Energy, IPL, WPL, or their suppliers, contractors and partners, or responses to such incidents;

• the impact of customer- and third party-owned generation, including alternative electric suppliers, in IPL’s and WPL’s service territories on system reliability, operating expenses and customers’ demand for electricity;

• economic conditions and the impact of business or facility closures in IPL’s and WPL’s service territories;

• the impact of energy efficiency, franchise retention and customer disconnects on sales volumes and operating income;

• the impact that price changes may have on IPL’s and WPL’s customers’ demand for electric, gas and steam services and their ability to pay their bills;

• changes in the price of delivered natural gas, transmission, purchased electric energy, purchased electric capacity and delivered coal, particularly during elevated market prices, and any resulting changes to counterparty credit risk, due to shifts in supply and demand caused by market conditions, regulations and MISO’s seasonal resource adequacy process;

• the ability to obtain regulatory approval for construction projects with acceptable conditions;

• the ability to complete construction of renewable generation and storage projects by planned in-service dates and within the cost targets set by regulators due to cost increases of and access to materials, equipment and commodities, which could result from tariffs, duties or other assessments, such as any additional tariffs resulting from U.S. Department of Commerce investigations into and any decisions made regarding the sourcing of solar project materials and equipment from certain countries, labor issues or supply shortages, the ability to successfully resolve warranty issues or contract disputes;

• the ability to achieve the expected level of tax benefits based on tax guidelines, timely in-service dates, project costs and the level of electricity output generated by qualifying generating facilities, and the ability to efficiently utilize the renewable generation and storage project tax benefits to achieve IPL’s authorized rate of return and for the benefit of IPL’s and WPL’s customers;

• the impacts of changes in the tax code, including tax rates, minimum tax rates, adjustments made to deferred tax assets and liabilities, and changes impacting the availability of and ability to transfer renewable tax credits;

• the ability to utilize tax credits generated to date, and those that may be generated in the future, before they expire, as well as the ability to transfer tax credits that may be generated in the future at adequate pricing;

• the ability to provide sufficient generation and the ability of ITC Midwest LLC and ATC to provide sufficient transmission capacity for potential load growth;

• the ability of potential large load growth customers to timely construct new facilities;

• disruptions to ongoing operations and the supply of materials, services, equipment and commodities needed to construct capital projects, which may result from geopolitical issues, supplier manufacturing constraints, regulatory requirements, labor issues or transportation issues, and thus affect the ability to meet capacity requirements and result in increased capacity expense;

			1

Table of Contents

• inflation and higher interest rates;

• the future development of technologies related to electrification, and the ability to reliably store and manage electricity;

• federal and state regulatory or governmental actions, including the impact of legislation, and regulatory agency orders and changes in public policy, including the potential repeal of the Inflation Reduction Act of 2022;

• employee workforce factors, including the ability to hire and retain employees with specialized skills, impacts from employee retirements, changes in key executives, ability to create desired corporate culture, collective bargaining agreements and negotiations, work stoppages or restructurings;

• disruptions in the supply and delivery of natural gas, purchased electricity and coal;

• changes to the creditworthiness of, or performance of obligations by, counterparties with which Alliant Energy, IPL and WPL have contractual arrangements, including participants in the energy markets and fuel suppliers and transporters;

• the impact of penalties or third-party claims related to, or in connection with, a failure to maintain the security of personally identifiable information, including associated costs to notify affected persons and to mitigate their information security concerns;

• impacts that terrorist attacks may have on Alliant Energy’s, IPL’s and WPL’s operations and recovery of costs associated with restoration activities, or on the operations of Alliant Energy’s investments;

• any material post-closing payments related to any past asset divestitures, including the transfer of renewable tax credits, which could result from, among other things, indemnification agreements, warranties, guarantees or litigation;

• continued access to the capital markets on competitive terms and rates, and the actions of credit rating agencies;

• changes to MISO’s resource adequacy process establishing capacity planning reserve margin and capacity accreditation requirements that may impact how and when new and existing generating facilities, including IPL’s and WPL’s additional solar generation, may be accredited with energy capacity, and may require IPL and WPL to adjust their current resource plans, to add resources to meet the requirements of MISO’s process, or procure capacity in the market whereby such costs might not be recovered in rates;

• issues associated with environmental remediation and environmental compliance, including compliance with all current environmental and emissions laws, regulations and permits and future changes in environmental laws and regulations, including the CCR Rule, Cross-State Air Pollution Rule and federal, state or local regulations for greenhouse gases emissions reductions from new and existing fossil-fueled EGUs under the Clean Air Act, and litigation associated with environmental requirements;

• increased pressure from customers, investors and other stakeholders to more rapidly reduce greenhouse gases emissions;

• the ability to defend against environmental claims brought by state and federal agencies, such as the EPA and state natural resources agencies, or third parties, such as the Sierra Club, and the impact on operating expenses of defending and resolving such claims;

• the direct or indirect effects resulting from breakdown or failure of equipment in the operation of electric and gas distribution systems, such as mechanical problems, disruptions in telecommunications, technological problems, and explosions or fires, and compliance with electric and gas transmission and distribution safety regulations, including regulations promulgated by the Pipeline and Hazardous Materials Safety Administration;

• issues related to the availability and operations of EGUs, including start-up risks, breakdown or failure of equipment, availability of warranty coverage and successful resolution of warranty issues or contract disputes for equipment breakdowns or failures, performance below expected or contracted levels of output or efficiency, operator error, employee safety, transmission constraints, compliance with mandatory reliability standards and risks related to recovery of resulting incremental operating, fuel-related and capital costs through rates;

• impacts that excessive heat, excessive cold, storms, wildfires, or natural disasters may have on Alliant Energy’s, IPL’s and WPL’s operations and construction activities, and recovery of costs associated with restoration activities, or on the operations of Alliant Energy’s investments;

• Alliant Energy’s ability to sustain its dividend payout ratio goal;

• changes to costs of providing benefits and related funding requirements of pension and OPEB plans due to the market value of the assets that fund the plans, economic conditions, financial market performance, interest rates, timing and form of benefits payments, life expectancies and demographics;

• material changes in employee-related benefit and compensation costs, including settlement losses related to pension plans;

• risks associated with operation and ownership of non-utility holdings;

• changes in technology that alter the channels through which customers buy or utilize Alliant Energy’s, IPL’s or WPL’s products and services;

• impacts on equity income from unconsolidated investments from changes in valuations of the assets held, as well as potential changes to ATC’s authorized return on equity;

• impacts of IPL’s future tax benefits from Iowa rate-making practices, including deductions for repairs expenditures, allocation of mixed service costs and state depreciation, and recoverability of the associated regulatory assets from customers, when the differences reverse in future periods;

• current or future litigation, regulatory investigations, proceedings or inquiries;

• reputational damage from negative publicity, protests, fines, penalties and other negative consequences resulting in regulatory and/or legal actions;

• the direct or indirect effects resulting from pandemics;

• the effect of accounting standards issued periodically by standard-setting bodies;

• the ability to successfully complete tax audits and changes in tax accounting methods with no material impact on earnings and cash flows; and

• other factors listed in MDA and Risk Factors in Item 1A in the 2023 Form 10-K.

Alliant Energy, IPL and WPL each assume no obligation, and disclaim any duty, to update the forward-looking statements in this report, except as required by law.

Available Information. Alliant Energy routinely posts important information on its website and considers the Investors section of its website, www.alliantenergy.com/investors, a channel of distribution for material information. Information contained on Alliant Energy’s website is not incorporated herein by reference.

			2

Table of Contents

PART I. FINANCIAL INFORMATION

ALLIANT ENERGY CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

			For the Three Months												For the Nine Months
			Ended September 30,												Ended September 30,
			2024						2023						2024						2023
			(in millions, except per share amounts)
Revenues:
Electric utility			$999						$995						$2,579						$2,562
Gas utility			49						47						322						400
Other utility			12						13						36						38
Non-utility			21						22						68						66
Total revenues			1,081						1,077						3,005						3,066
Operating expenses:
Electric production fuel and purchased power			192						231						493						553
Electric transmission service			165						154						464						438
Cost of gas sold			13						12						152						226
Other operation and maintenance:
Asset valuation charge for IPL’s Lansing Generating Station			—						—						60						—
Other			174						160						510						499
Depreciation and amortization			195						170						571						503
Taxes other than income taxes			29						28						90						87
Total operating expenses			768						755						2,340						2,306
Operating income			313						322						665						760
Other (income) and deductions:
Interest expense			114						99						329						289
Equity income from unconsolidated investments, net			(14)						(14)						(44)						(45)
Allowance for funds used during construction			(20)						(28)						(58)						(71)
Other			—						1						2						2
Total other (income) and deductions			80						58						229						175
Income before income taxes			233						264						436						585
Income tax expense (benefit)			(62)						5						(104)						3
Net income attributable to Alliant Energy common shareowners			$295						$259						$540						$582
Weighted average number of common shares outstanding:
Basic			256.6						253.5						256.4						252.1
Diluted			256.9						253.8						256.7						252.4
Earnings per weighted average common share attributable to Alliant Energy common shareowners:
Basic			$1.15						$1.02						$2.11						$2.31
Diluted			$1.15						$1.02						$2.10						$2.31

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

			3

Table of Contents

ALLIANT ENERGY CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

			September 30, 2024						December 31, 2023
			(in millions, except per share and share amounts)
ASSETS
Current assets:
Cash and cash equivalents			$827						$62
Accounts receivable, less allowance for expected credit losses			463						475
Production fuel, at weighted average cost			60						62
Gas stored underground, at weighted average cost			60						79
Materials and supplies, at weighted average cost			200						202
Regulatory assets			214						232
Other			144						160
Total current assets			1,968						1,272
Property, plant and equipment, net			17,936						17,157
Investments:
ATC Holdings			407						386
Other			226						216
Total investments			633						602
Other assets:
Regulatory assets			2,136						2,029
Deferred charges and other			156						177
Total other assets			2,292						2,206
Total assets			$22,829						$21,237

| | | | | | | | | | | | | | --- | --- | --- | --- |

Showing the first 8K of 167K characters. Open the full section

This MDA includes information relating to Alliant Energy, and IPL and WPL (collectively, the Utilities), as well as ATC Holdings, AEF and Corporate Services. Where appropriate, information relating to a specific entity has been segregated and labeled as such. The following discussion and analysis should be read in conjunction with the Financial Statements and the Notes included in this report, as well as the financial statements, notes and MDA included in the 2023 Form 10-K. Unless otherwise noted, all “per share” references in MDA refer to earnings per diluted share.

			27

Table of Contents

2024 HIGHLIGHTS

Key highlights since the filing of the 2023 Form 10-K include the following:

Customer Investments:

• In March 2024, IPL completed construction of the first phase of the Duane Arnold solar facility (50 MW in Linn County, Iowa).

• In April 2024, the PSCW issued orders authorizing WPL to construct improvements at the natural gas-fired Neenah Energy Facility and Sheboygan Falls Energy Facility, which would increase the capacity and efficiency of the EGUs.

• In April 2024 and June 2024, IPL and WPL entered into agreements to transfer a portion of the renewable tax credits generated in 2024 and 2025 from certain wind, solar and battery storage facilities to other corporate taxpayers in exchange for cash.

• In May 2024, WPL completed construction of the Grant County solar facility (200 MW in Grant County, Wisconsin).

• 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.

• In July 2024, the U.S. Department of Energy Office of Clean Energy Demonstrations awarded WPL’s Columbia Energy Storage Project, a 20 MW carbon dioxide-based long-duration energy storage system at the Columbia Energy Center site, up to approximately $30 million in grant funding during construction of the project. In August 2024, WPL filed a certificate of authority application with the PSCW for construction approval of the energy storage system. A decision from the PSCW is currently expected in 2025.

• In July 2024, WPL filed a certificate of authority application with the PSCW for approval to refurbish the Bent Tree wind farm, which would be eligible for production tax credits under the Inflation Reduction Act of 2022. A decision from the PSCW is currently expected in 2025.

• In October 2024, IPL completed construction of the Creston solar facility (50 MW in Union County, Iowa).

• In October 2024, the U.S. Department of Energy Office of Grid Deployment selected WPL’s Smart Power Automation for Rural Communities program application to move into the final stage of award negotiations for up to $50 million in grant funding under the Grid Resilience and Innovation Partnerships Program. WPL currently expects to submit project plans to the PSCW in 2025 when award negotiations are nearing completion. Any grant proceeds would reduce the cost of the project for WPL’s customers.

Rate Matters:

• In October 2023, IPL filed a retail electric and gas rate review with the IUC for the October 2024 through September 2025 forward-looking Test Period. In June 2024, IPL reached a partial, non-unanimous settlement agreement with certain stakeholders, which was approved by the IUC in September 2024. Rate changes were effective October 1, 2024, and are currently subject to procedural reviews by the IUC. The IUC’s order reflects the following:

• Annual retail electric base rate increase of $185 million, with customers receiving partially offsetting credits for the first 12 months through a tax benefit rider, a subsequent retail electric base rate moratorium through September 2029, and an average retail electric rate base of $7,279 million;

• During the moratorium, IPL may request updated rates if its actual return on common equity is 100 or more basis points below the authorized return on common equity for a single calendar year or 50 or more basis points below the authorized return on common equity for two consecutive years, and/or if a material change in laws or regulations causes the moratorium to become unsustainable;

• Annual retail gas base rate increase of $10 million, and an average retail gas rate base of $630 million;

• Return on common equity of 9.65% (for all assets that to do not have advance ratemaking principles) and a 51% common equity component of its regulatory capital structure;

• Key drivers include revenue requirement impacts of increasing electric and gas rate base, including investments in solar generation, as well as updated depreciation rates and certain incremental costs and benefits incurred resulting from the 2020 derecho windstorm;

• Electric earnings sharing mechanism beginning in calendar year 2025, where IPL would apply excess earnings to the remaining net book value of IPL’s highest earning asset with advance ratemaking principles (currently the Emery Generation Station) based on its authorized return on common equity as follows;

Threshold Above Authorized
Return on Common Equity						Sharing
First 50 basis points						75% customers, 25% IPL
>50 to 100 basis points						50% customers, 50% IPL
>100 to 150 basis points						25% customers, 75% IPL
>150 basis points						100% customers

• Investment tax credits resulting from renewable generation and battery storage projects may be utilized to offset any revenue deficiency on an annual basis up to IPL’s return on common equity threshold. Any remaining investment tax credits, net of the cost of transferability, that are not used to offset any revenue deficiency, will be deferred by IPL and carried forward to offset any revenue deficiency in future years.

• Creation of an individual customer rate tariff, which would allow IPL to attract new load growth to its service territory;

			28

Table of Contents

• Electric distribution system investment cap not to exceed $900 million in aggregate or $325 million in any given year from 2026 through 2029, with certain exceptions;

• IPL to retain renewable tax benefits from new generation resources and the repowering of existing wind farms, including the Franklin County wind farm, as well as retain energy margins for new generation resources and battery storage;

• Discontinuation of the renewable energy rider; and

• A return of the remaining net book value of the Lansing Generating Station; however, the agreement does not include a return on the remaining net book value of Lansing, resulting in Alliant Energy and IPL recording a pre-tax non-cash charge of $60 million to “Asset valuation charge for IPL’s Lansing Generating Station” in their income statements for the nine months ended September 30, 2024.

• In August 2024, the PSCW issued an order authorizing WPL to refund $34 million, plus interest, to its retail electric customers in the fourth quarter of 2024 for fuel-related costs incurred

Showing the first 8K of 80K characters. Open the full section

Quantitative and Qualitative Disclosures About Market Risk are reported in the 2023 Form 10-K and have not changed materially.

			38

Table of Contents

Alliant Energy’s, IPL’s and WPL’s management evaluated, with the participation of each of Alliant Energy’s, IPL’s and WPL’s Chief Executive Officer, Chief Financial Officer and Disclosure Committee, the effectiveness of the design and operation of Alliant Energy’s, IPL’s and WPL’s disclosure controls and procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934, as amended) as of September 30, 2024 pursuant to the requirements of the Securities Exchange Act of 1934, as amended. Based on their evaluation, the Chief Executive Officer and the Chief Financial Officer concluded that Alliant Energy’s, IPL’s and WPL’s disclosure controls and procedures were effective as of the quarter ended September 30, 2024.

There was no change in Alliant Energy’s, IPL’s and WPL’s internal control over financial reporting that occurred during the quarter ended September 30, 2024 that has materially affected, or is reasonably likely to materially affect, Alliant Energy’s, IPL’s or WPL’s internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None. Securities and Exchange Commission (SEC) regulations require Alliant Energy, IPL and WPL to disclose information about certain proceedings arising under federal, state or local environmental provisions when a governmental authority is a party to the proceedings and such proceedings involve potential monetary sanctions that Alliant Energy, IPL and WPL reasonably believe will exceed a specified threshold. Pursuant to the SEC regulations, Alliant Energy, IPL and WPL use a threshold of $1 million for purposes of determining whether disclosure of any such proceedings is required. Applying this threshold, there are no environmental matters to disclose for this period.

The risk factors described in Item 1A in the 2023 Form 10-K have not changed materially.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

A summary of Alliant Energy common stock repurchases for the quarter ended September 30, 2024 was as follows:

						Total Number						Average Price						Total Number of Shares						Maximum Number (or Approximate
						of Shares						Paid Per						Purchased as Part of						Dollar Value) of Shares That May
Period						Purchased (a)						Share						Publicly Announced Plan						Yet Be Purchased Under the Plan (a)
July 1 through July 31						7,186						$53.87						—						N/A
August 1 through August 31						3,082						56.95						—						N/A
September 1 through September 30						32						60.19						—						N/A
						10,300						54.81						—

(a)All shares were purchased on the open market and held in a rabbi trust under the Alliant Energy Deferred Compensation Plan. There is no limit on the number of shares of Alliant Energy common stock that may be held under the Deferred Compensation Plan, which currently does not have an expiration date.

(c)During the quarter ended September 30, 2024, no director or officer of Alliant Energy, IPL or WPL adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as each term is defined in Item 408(a) of Regulation S-K.

			39

Table of Contents

The following Exhibits are filed herewith or incorporated herein by reference.

Exhibit Number			Description
4.1			Officer’s Certificate, dated as of September 6, 2024, creating IPL’s 4.950% Senior Debentures due September 30, 2034 and IPL’s 5.450% Senior Debentures due September 30, 2054 (incorporated by reference to Exhibit 4.1 to IPL’s Form 8-K, filed September 6, 2024 (File No. 1-4117))
31.1			Certification of the Chief Executive Officer for Alliant Energy
31.2			Certification of the Chief Financial Officer for Alliant Energy
31.3			Certification of the Chief Executive Officer for IPL
31.4			Certification of the Chief Financial Officer for IPL
31.5			Certification of the Chief Executive Officer for WPL
31.6			Certification of the Chief Financial Officer for WPL
32.1			Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for Alliant Energy
32.2			Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for IPL
32.3			Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for WPL
101.INS			Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
101.SCH			Inline XBRL Taxonomy Extension Schema Document
101.CAL			Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB			Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE			Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF			Inline XBRL Taxonomy Extension Definition Linkbase Document
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, Alliant Energy Corporation, Interstate Power and Light Company and Wisconsin Power and Light Company have each duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the 1st day of November 2024.

ALLIANT ENERGY CORPORATION
Registrant
By: /s/ Benjamin M. Bilitz			Chief Accounting Officer and Controller
Benjamin M. Bilitz			(Principal Accounting Officer and Authorized Signatory)

INTERSTATE POWER AND LIGHT COMPANY
Registrant
By: /s/ Benjamin M. Bilitz			Chief Accounting Officer and Controller
Benjamin M. Bilitz			(Principal Accounting Officer and Authorized Signatory)

WISCONSIN POWER AND LIGHT COMPANY
Registrant
By: /s/ Benjamin M. Bilitz			Chief Accounting Officer and Controller
Benjamin M. Bilitz			(Principal Accounting Officer and Authorized Signatory)

			40