Leases

12 Months Ended

Dec. 31, 2020

Leases [Line Items]

Operating Leases

LEASES

Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. At December 31, operating lease details are as follows (dollars in millions):

	2020			2019
	Alliant Energy	IPL	WPL	Alliant Energy	IPL	WPL
Property, plant and equipment, net	$15	$9	$6	$16	$10	$6
Other current liabilities	$2	$1	$1	$2	$1	$1
Other liabilities	13	8	5	14	9	5
Total operating lease liabilities	$15	$9	$6	$16	$10	$6
Weighted average remaining lease term	10 years	11 years	9 years	11 years	12 years	10 years
Weighted average discount rate	4%	4%	4%	4%	4%	4%

Finance Lease - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business through 2025, the initial lease term. WPL is responsible for the operation of the EGU and has exclusive rights to its output. This finance lease contains two lease renewal periods, which are not included in the finance lease obligation, as well as an option to purchase the facility at the end of the initial lease term. WPL’s finance lease details are as follows (dollars in millions):

	December 31, 2020	December 31, 2019
Property, plant and equipment, net	$27	$32
Other current liabilities	$9	$9
Finance lease obligations - Sheboygan Falls Energy Facility	42	51
Total finance lease liabilities	$51	$60
Remaining lease term	4 years	5 years
Discount rate	11%	11%
	2020	2019
Depreciation expense	$6	$6
Interest expense	6	7
Total finance lease expense	$12	$13

Expected Maturities - As of December 31, 2020, expected maturities of lease liabilities were as follows (in millions):

	2021	2022	2023	2024	2025	Thereafter	Total	Less: amount representing interest	Present value of minimum lease payments
Operating Leases:
Alliant Energy	$2	$2	$2	$2	$2	$8	$18	$3	$15
IPL	1	1	1	1	1	6	11	2	9
WPL	1	1	1	1	1	2	7	1	6
WPL’s Finance Lease:
Sheboygan Falls Energy Facility	15	15	15	15	5	—	65	14	51

IPL [Member]

Leases [Line Items]

Operating Leases

LEASES

Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. At December 31, operating lease details are as follows (dollars in millions):

	2020			2019
	Alliant Energy	IPL	WPL	Alliant Energy	IPL	WPL
Property, plant and equipment, net	$15	$9	$6	$16	$10	$6
Other current liabilities	$2	$1	$1	$2	$1	$1
Other liabilities	13	8	5	14	9	5
Total operating lease liabilities	$15	$9	$6	$16	$10	$6
Weighted average remaining lease term	10 years	11 years	9 years	11 years	12 years	10 years
Weighted average discount rate	4%	4%	4%	4%	4%	4%

Finance Lease - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business through 2025, the initial lease term. WPL is responsible for the operation of the EGU and has exclusive rights to its output. This finance lease contains two lease renewal periods, which are not included in the finance lease obligation, as well as an option to purchase the facility at the end of the initial lease term. WPL’s finance lease details are as follows (dollars in millions):

	December 31, 2020	December 31, 2019
Property, plant and equipment, net	$27	$32
Other current liabilities	$9	$9
Finance lease obligations - Sheboygan Falls Energy Facility	42	51
Total finance lease liabilities	$51	$60
Remaining lease term	4 years	5 years
Discount rate	11%	11%
	2020	2019
Depreciation expense	$6	$6
Interest expense	6	7
Total finance lease expense	$12	$13

Expected Maturities - As of December 31, 2020, expected maturities of lease liabilities were as follows (in millions):

	2021	2022	2023	2024	2025	Thereafter	Total	Less: amount representing interest	Present value of minimum lease payments
Operating Leases:
Alliant Energy	$2	$2	$2	$2	$2	$8	$18	$3	$15
IPL	1	1	1	1	1	6	11	2	9
WPL	1	1	1	1	1	2	7	1	6
WPL’s Finance Lease:
Sheboygan Falls Energy Facility	15	15	15	15	5	—	65	14	51

WPL [Member]

Leases [Line Items]

Operating Leases

LEASES

Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. At December 31, operating lease details are as follows (dollars in millions):

	2020			2019
	Alliant Energy	IPL	WPL	Alliant Energy	IPL	WPL
Property, plant and equipment, net	$15	$9	$6	$16	$10	$6
Other current liabilities	$2	$1	$1	$2	$1	$1
Other liabilities	13	8	5	14	9	5
Total operating lease liabilities	$15	$9	$6	$16	$10	$6
Weighted average remaining lease term	10 years	11 years	9 years	11 years	12 years	10 years
Weighted average discount rate	4%	4%	4%	4%	4%	4%

Finance Lease - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business through 2025, the initial lease term. WPL is responsible for the operation of the EGU and has exclusive rights to its output. This finance lease contains two lease renewal periods, which are not included in the finance lease obligation, as well as an option to purchase the facility at the end of the initial lease term. WPL’s finance lease details are as follows (dollars in millions):

	December 31, 2020	December 31, 2019
Property, plant and equipment, net	$27	$32
Other current liabilities	$9	$9
Finance lease obligations - Sheboygan Falls Energy Facility	42	51
Total finance lease liabilities	$51	$60
Remaining lease term	4 years	5 years
Discount rate	11%	11%
	2020	2019
Depreciation expense	$6	$6
Interest expense	6	7
Total finance lease expense	$12	$13

Expected Maturities - As of December 31, 2020, expected maturities of lease liabilities were as follows (in millions):

	2021	2022	2023	2024	2025	Thereafter	Total	Less: amount representing interest	Present value of minimum lease payments
Operating Leases:
Alliant Energy	$2	$2	$2	$2	$2	$8	$18	$3	$15
IPL	1	1	1	1	1	6	11	2	9
WPL	1	1	1	1	1	2	7	1	6
WPL’s Finance Lease:
Sheboygan Falls Energy Facility	15	15	15	15	5	—	65	14	51

Finance Leases

LEASES

Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. At December 31, operating lease details are as follows (dollars in millions):

	2020			2019
	Alliant Energy	IPL	WPL	Alliant Energy	IPL	WPL
Property, plant and equipment, net	$15	$9	$6	$16	$10	$6
Other current liabilities	$2	$1	$1	$2	$1	$1
Other liabilities	13	8	5	14	9	5
Total operating lease liabilities	$15	$9	$6	$16	$10	$6
Weighted average remaining lease term	10 years	11 years	9 years	11 years	12 years	10 years
Weighted average discount rate	4%	4%	4%	4%	4%	4%

Finance Lease - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business through 2025, the initial lease term. WPL is responsible for the operation of the EGU and has exclusive rights to its output. This finance lease contains two lease renewal periods, which are not included in the finance lease obligation, as well as an option to purchase the facility at the end of the initial lease term. WPL’s finance lease details are as follows (dollars in millions):

	December 31, 2020	December 31, 2019
Property, plant and equipment, net	$27	$32
Other current liabilities	$9	$9
Finance lease obligations - Sheboygan Falls Energy Facility	42	51
Total finance lease liabilities	$51	$60
Remaining lease term	4 years	5 years
Discount rate	11%	11%
	2020	2019
Depreciation expense	$6	$6
Interest expense	6	7
Total finance lease expense	$12	$13

Expected Maturities - As of December 31, 2020, expected maturities of lease liabilities were as follows (in millions):

	2021	2022	2023	2024	2025	Thereafter	Total	Less: amount representing interest	Present value of minimum lease payments
Operating Leases:
Alliant Energy	$2	$2	$2	$2	$2	$8	$18	$3	$15
IPL	1	1	1	1	1	6	11	2	9
WPL	1	1	1	1	1	2	7	1	6
WPL’s Finance Lease:
Sheboygan Falls Energy Facility	15	15	15	15	5	—	65	14	51